Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 25, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | Stock Yards Bancorp, Inc. | |
Entity Central Index Key | 0000835324 | |
Trading Symbol | sybt | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 22,822,822 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 44,014 | $ 51,892 |
Federal funds sold and interest bearing due from banks | 67,326 | 147,047 |
Cash and cash equivalents | 111,340 | 198,939 |
Mortgage loans held for sale | 2,981 | 1,675 |
Securities available for sale | 507,131 | 436,995 |
Federal Home Loan Bank stock | 9,779 | 10,370 |
Loans | 2,525,709 | 2,548,171 |
Allowance for loan and lease losses | 26,464 | 25,534 |
Net loans and leases | 2,499,245 | 2,522,637 |
Premises and equipment, net | 45,718 | 44,764 |
Bank owned life insurance | 32,447 | 32,273 |
Accrued interest receivable | 8,710 | 8,360 |
Other assets | 63,665 | 46,911 |
Total assets | 3,281,016 | 3,302,924 |
Liabilities | ||
Non-interest bearing demand deposits | 698,783 | 711,023 |
Interest bearing | 2,053,757 | 2,083,333 |
Total deposits | 2,752,540 | 2,794,356 |
Securities sold under agreements to repurchase | 34,633 | 36,094 |
Federal funds purchased | 12,218 | 10,247 |
Federal Home Loan Bank advances | 47,853 | 48,177 |
Accrued interest payable | 709 | 762 |
Other liabilities | 55,069 | 46,788 |
Total liabilities | 2,903,022 | 2,936,424 |
Commitments and contingent liabilities (note 15) | ||
Stockholders’ equity: | ||
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outstanding | ||
Common stock, no par value. Authorized 40,000,000 shares; issued and outstanding 22,822,822 and 22,749,139 shares in 2019 and 2018, respectively | 36,934 | 36,689 |
Additional paid-in capital | 39,914 | 36,797 |
Retained earnings | 303,659 | 298,156 |
Accumulated other comprehensive loss | (2,513) | (5,142) |
Total stockholders’ equity | 377,994 | 366,500 |
Total liabilities and stockholders’ equity | $ 3,281,016 | $ 3,302,924 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares issued (in shares) | 22,822,822 | 22,749,139 |
Common stock, shares outstanding (in shares) | 22,749,139 | 22,749,139 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Interest income | |||
Loans and leases | $ 31,544 | $ 27,062 | |
Federal funds sold and interest bearing due from banks | 733 | 268 | |
Mortgage loans held for sale | 37 | 35 | |
Securities available for sale | |||
Taxable | 2,568 | 2,138 | |
Tax-exempt | 147 | 241 | |
Total interest income | 35,029 | 29,744 | |
Interest expense | |||
Deposits | 5,066 | 2,077 | |
Securities sold under agreements to repurchase | 25 | 33 | |
Federal funds purchased and other short-term borrowing | 60 | 90 | |
Federal Home Loan Bank advances | 221 | 235 | |
Total interest expense | 5,372 | 2,435 | |
Net interest income | 29,657 | 27,309 | |
Provision for loan and lease losses | 600 | 735 | |
Net interest income after provision | 29,057 | 26,574 | |
Non-interest income: | |||
Non-interest income | 5,439 | 5,500 | |
Mortgage banking income | [1] | 482 | 576 |
Bank owned life insurance | [1] | 178 | 187 |
Total non-interest income | 11,062 | 10,909 | |
Non-interest expenses | |||
Compensation | 11,801 | 10,970 | |
Employee benefits | 2,642 | 2,633 | |
Net occupancy and equipment | 1,858 | 1,818 | |
Technology and communication | 1,773 | 1,630 | |
Debit and credit card processing | 587 | 566 | |
Marketing and business development | 625 | 646 | |
Postage, printing, and supplies | 406 | 391 | |
Legal and professional | 534 | 493 | |
FDIC insurance | 238 | 242 | |
Amortization/impairment of investments in tax credit partnerships | 52 | ||
Capital and deposit based taxes | 904 | 852 | |
Other | 1,219 | 786 | |
Total non-interest expenses | 22,639 | 21,027 | |
Income before income taxes | 17,480 | 16,456 | |
Income tax expense | 1,839 | 3,052 | |
Net income | $ 15,641 | $ 13,404 | |
Net income per share, basic (in dollars per share) | $ 0.69 | $ 0.59 | |
Net income per share, diluted (in dollars per share) | $ 0.68 | $ 0.58 | |
Average common shares: | |||
Basic (in shares) | 22,661 | 22,577 | |
Diluted (in shares) | 22,946 | 22,931 | |
Fiduciary and Trust [Member] | |||
Non-interest income: | |||
Non-interest income | $ 5,439 | $ 5,500 | |
Deposit Account [Member] | |||
Non-interest income: | |||
Non-interest income | 1,247 | 1,411 | |
Credit and Debit Card [Member] | |||
Non-interest income: | |||
Non-interest income | 1,744 | 1,508 | |
Treasury Management [Member] | |||
Non-interest income: | |||
Non-interest income | 1,157 | 1,047 | |
Investment Advisory, Management and Administrative Service [Member] | |||
Non-interest income: | |||
Non-interest income | 356 | 404 | |
Product and Service, Other [Member] | |||
Non-interest income: | |||
Non-interest income | $ 459 | $ 276 | |
[1] | Outside of scope of ASC 606 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net income | $ 15,641 | $ 13,404 |
Other comprehensive income | ||
Change in unrealized gain (loss) on available for sale debt securities | 3,425 | (4,707) |
Change in fair value of derivatives used in cash flow hedges | (208) | 392 |
Total other comprehensive income (loss), before income tax | 3,217 | (4,315) |
Tax effect | 588 | (907) |
Other comprehensive income (loss), net of tax | 2,629 | (3,408) |
Comprehensive income | $ 18,270 | $ 9,996 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 22,679 | ||||
Balance, January 1, 2018 at Dec. 31, 2017 | $ 36,457 | $ 31,924 | $ 267,193 | $ (1,930) | $ 333,644 |
Net income | 13,404 | 13,404 | |||
Net change in accumulated other comprehensive loss | (3,408) | (3,408) | |||
Reclassification adjustment under Accounting Standards Update 2018-02 | 506 | (506) | |||
Stock compensation expense | 823 | 823 | |||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 52 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 174 | 205 | (1,914) | (1,535) | |
Cash dividends declared | (5,226) | (5,226) | |||
Shares cancelled (in shares) | (1) | ||||
Shares cancelled | $ (4) | (35) | 39 | ||
Balance (in shares) at Mar. 31, 2018 | 22,730 | ||||
Balance, March 31, 2018 at Mar. 31, 2018 | $ 36,627 | 32,917 | 274,002 | (5,844) | 337,702 |
Balance (in shares) at Dec. 31, 2018 | 22,749 | ||||
Balance, January 1, 2018 at Dec. 31, 2018 | $ 36,689 | 36,797 | 298,156 | (5,142) | 366,500 |
Net income | 15,641 | 15,641 | |||
Net change in accumulated other comprehensive loss | 2,629 | 2,629 | |||
Stock compensation expense | 863 | 863 | |||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 74 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 245 | 2,254 | (4,452) | (1,953) | |
Cash dividends declared | (5,686) | (5,686) | |||
Balance (in shares) at Mar. 31, 2019 | 22,823 | ||||
Balance, March 31, 2018 at Mar. 31, 2019 | $ 36,934 | $ 39,914 | $ 303,659 | $ (2,513) | $ 377,994 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Retained Earnings [Member] | ||
Cash dividends declared (in dollars per share) | $ 0.25 | $ 0.23 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Operating activities: | |||
Net income | $ 15,641 | $ 13,404 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan and lease losses | 600 | 735 | |
Depreciation, amortization and accretion, net | 783 | 1,326 | |
Deferred income tax (benefit) expense | (1,028) | 488 | |
Gain on sales of mortgage loans held for sale | (238) | (314) | |
Origination of mortgage loans held for sale | (13,346) | (18,245) | |
Proceeds from sale of mortgage loans held for sale | 12,278 | 17,284 | |
Bank owned life insurance income | [1] | (178) | (187) |
Loss (gain) on the disposal of premises and equipment | 4 | (6) | |
Gain on the sale of other real estate | (22) | (109) | |
Operating lease payments | (354) | ||
Stock compensation expense | 863 | 823 | |
Excess tax benefits from share-based compensation arrangements | (311) | (316) | |
Net change in accrued interest receivable and other assets | (1,237) | 112 | |
Net change in accrued interest payable and other liabilities | (2,400) | (3,716) | |
Net cash provided by operating activities | 11,055 | 11,279 | |
Investing activities: | |||
Purchases of securities available for sale | (174,490) | (199,946) | |
Proceeds from maturities and paydowns of securities available for sale | 108,124 | 171,308 | |
Purchases of Federal Home Loan Bank stock | (1,230) | ||
Proceeds from sales of Federal Home Loan Bank stock | 590 | ||
Net change in loans | 17,800 | (104,505) | |
Purchases of premises and equipment | (1,999) | (1,111) | |
Proceeds from disposal of premises and equipment | 40 | 215 | |
Proceeds from mortality benefit of bank owned life insurance | 908 | ||
Other investment activities | (824) | (349) | |
Proceeds from sale of other real estate | 512 | 2,658 | |
Net cash used in investing activities | (49,339) | (132,960) | |
Financing activities: | |||
Net decrease in deposits | (41,816) | (4,931) | |
Net increase in securities sold under agreements to repurchase and federal funds purchased | 510 | 51,300 | |
Proceeds from Federal Home Loan Bank advances | 30,000 | 30,000 | |
Repayments of Federal Home Loan Bank advances | (30,324) | (30,318) | |
Issuance of common stock for stock appreciation rights and performance stock units | (210) | (156) | |
Common stock repurchases of restricted shares surrendered for taxes | (1,743) | (1,379) | |
Cash dividends paid | (5,732) | (5,207) | |
Net cash provided by (used in) financing activities | (49,315) | 39,309 | |
Net change in cash and cash equivalents | (87,599) | (82,372) | |
Cash and cash equivalents at beginning of period | 198,939 | 139,248 | |
Cash and cash equivalents at end of period | 111,340 | 56,876 | |
Supplemental cash flow information: | |||
Income tax payments | |||
Cash paid for interest | 5,425 | 2,383 | |
Supplemental non-cash activity: | |||
Initial recognition of right-of-use lease assets | 16,747 | ||
Initial recognition of operating lease liabilities | 18,067 | ||
Transfers from loans to other real estate owned | $ 270 | ||
[1] | Outside of scope of ASC 606 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The Bank, chartered in 1904, 38 As of March 31, 2019, two Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses through commercial lending, retail lending, deposit services, treasury management services, private banking, online banking, mobile banking, merchant services, workplace banking, international banking, correspondent banking and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third WM&T, with approximately $3 The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not three March 31, 2019 not may December 31, 2019. 10 December 31, 2018. Significant Accounting Policies 10 December 31, 2018. Critical Accounting Policies may not may The allowance methodology is driven by risk ratings, historical losses, and qualitative factors. The level of the March 31, 2019 32 36 not $2.0 first three 2019. 10K. Accounting Standards Updates (“ASUs”) The following ASU was issued prior to March 31, 2019 not not In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments December 15, 2019. one January 1, 2020. December 2018 three As a result of this ASU, Bancorp could experience an increase in its allowance. Bancorp has formed a committee to oversee its transition to the CECL methodology. Bancorp has devoted internal resources and purchased a third Recently adopted accounting standards Bancorp adopted ASU 2016 02, Leases January 1, 2019 $17 $18 March 31, 2019. not one not The adoption of this ASU did not not |
Note 2 - Pending Acquisition
Note 2 - Pending Acquisition | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 2 Pending Acquisition Effective December 19, 2018, five three two 60 Under the terms of the Agreement, Bancorp will acquire all of King’s outstanding common stock in an all-cash transaction, resulting in a total cash payment to King’s existing shareholders of approximately $28 The acquisition is scheduled to close as of end of business April 30, 2019, March 31, 2019, $193 $167 $125 $16 |
Note 3 - Securities
Note 3 - Securities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 3 Securities All of Bancorp’s securities are classified as available for sale. Amortized cost, unrealized gains and losses, and fair value of securities follow: (In thousands) Amortized Unrealized March 31, 2019 cost Gains Losses Fair value Government sponsored enterprise obligations $ 344,590 $ 139 $ (1,863 ) $ 342,866 Mortgage backed securities - government agencies 138,768 570 (2,207 ) 137,131 Obligations of states and political subdivisions 27,095 97 (58 ) 27,134 Total securities available for sale $ 510,453 $ 806 $ (4,128 ) $ 507,131 December 31, 2018 Government sponsored enterprise obligations 264,234 156 (3,351 ) 261,039 Mortgage backed securities - government agencies 149,748 282 (3,753 ) 146,277 Obligations of states and political subdivisions 29,760 107 (188 ) 29,679 Total securities available for sale $ 443,742 $ 545 $ (7,292 ) $ 436,995 At March 31, 2019 December 31, 2018, no one 10% Bancorp did not three March 31, 2019 2018. A summary of securities available for sale by maturity follows: (In thousands) Amortized Cost Fair Value Due within 1 year $ 205,633 $ 205,367 Due after 1 year but within 5 years 60,622 60,113 Due after 5 years but within 10 years 7,171 7,091 Due after 10 years 98,259 97,429 Mortgage backed securities - government agencies 138,768 137,131 Total securities available for sale $ 510,453 $ 507,131 Actual maturities may may Securities with a carrying value of $355.6 $355.1 March 31, 2019 December 31, 2018, Securities with unrealized losses at March 31, 2019 December 31, 2018 (In thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2019 value losses value losses value losses Government sponsored enterprise obligations $ 183,279 $ (151 ) $ 133,375 $ (1,712 ) $ 316,654 $ (1,863 ) Mortgage-backed securities - government agencies — — 109,690 (2,207 ) 109,690 (2,207 ) Obligations of states and political subdivisions — — 15,490 (58 ) 15,490 (58 ) Total temporarily impaired securities $ 183,279 $ (151 ) $ 258,555 $ (3,977 ) $ 441,834 $ (4,128 ) December 31, 2018 Government sponsored enterprise obligations 96,740 (38 ) 149,320 (3,313 ) 246,060 (3,351 ) Mortgage-backed securities - government agencies 3,108 (5 ) 120,848 (3,748 ) 123,956 (3,753 ) Obligations of states and political subdivisions 814 (1 ) 17,639 (187 ) 18,453 (188 ) Total temporarily impaired securities $ 100,662 $ (44 ) $ 287,807 $ (7,248 ) $ 388,469 $ (7,292 ) Applicable dates for determining when securities are in an unrealized loss position are March 31, 2019 December 31, 2018. twelve not 12 Unrealized losses on Bancorp’s investment securities portfolio have not 105 117 March 31, 2019 December 31, 2018, not not may not March 31, 2019. Federal Home Loan Bank of Cincinnati (“FHLB”) stock is an investment held by Bancorp which is not fourth |
Note 4 - Loans and Leases
Note 4 - Loans and Leases | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 4 Loans and leases Composition of loans, net of deferred fees and costs, by loan portfolio class follows: (In thousands) March 31, 2019 December 31, 2018 Commercial and industrial $ 827,747 $ 833,524 Construction and development, excluding undeveloped land (1) 216,115 225,050 Undeveloped land 28,433 30,092 Real estate mortgage Commercial investment 586,648 588,610 Owner occupied commercial 428,163 426,373 1-4 family residential 277,847 276,017 Home equity - first lien 48,656 49,500 Home equity - junior lien 66,837 70,947 Subtotal: Real estate mortgage 1,408,151 1,411,447 Consumer 45,263 48,058 Total loans $ 2,525,709 $ 2,548,171 ( 1 no Loans to directors and their associates, including loans to companies for which directors are principal owners and executive officers totaled $52.8 $52.7 March 31, 2019 December 31, 2018, Consistent with regulatory guidance, Bancorp categorizes loans into credit risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends. Pass-rated loans included all risk-rated loans other than those classified as other assets especially mentioned, substandard, and doubtful, which are defined below: ● Other assets especially mentioned (“OAEM”): Loans classified as OAEM have potential weaknesses that deserve management's close attention. These potential weaknesses may ● Substandard: Loans classified as substandard are inadequately protected by the paying capacity of the obligor or of collateral pledged, if any. Loans so classified have well-defined weaknesses that jeopardize ultimate repayment of the debt. Default is a distinct possibility if the deficiencies are not ● Substandard non-performing: Loans classified as substandard non-performing have all the characteristics of substandard loans and have been placed on non-accrual status or have been accounted for as troubled debt restructurings. Loans are placed on non-accrual status when prospects for recovering both principal and accrued interest are considered doubtful or when a default of principal or interest has existed for 90 ● Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Internally assigned risk grades of loans by loan portfolio class classification category follows: (In thousands) Substandard Total March 31, 2019 Pass OAEM Substandard non-performing Doubtful loans Commercial and industrial $ 791,469 $ 18,453 $ 17,607 $ 218 $ — $ 827,747 Construction and development, excluding undeveloped land 216,115 — — — — 216,115 Undeveloped land 28,433 — — — — 28,433 Real estate mortgage: Commercial investment 580,591 1,145 4,224 688 — 586,648 Owner occupied commercial 408,777 13,628 4,292 1,466 — 428,163 1-4 family residential 275,293 1,522 161 871 — 277,847 Home equity - first lien 48,587 — — 69 — 48,656 Home equity - junior lien 66,129 235 19 454 — 66,837 Subtotal: Real estate mortgage 1,379,377 16,530 8,696 3,548 — 1,408,151 Consumer 45,263 — — — — 45,263 Total $ 2,460,657 $ 34,983 $ 26,303 $ 3,766 $ — $ 2,525,709 December 31, 2018 Commercial and industrial $ 803,073 $ 11,516 $ 18,703 $ 232 $ — $ 833,524 Construction and development, excluding undeveloped land 220,532 4,200 — 318 — 225,050 Undeveloped land 29,618 — — 474 — 30,092 Real estate mortgage: Commercial investment 586,543 1,815 15 237 — 588,610 Owner occupied commercial 411,722 9,030 4,500 1,121 — 426,373 1-4 family residential 273,537 1,544 162 774 — 276,017 Home equity - first lien 49,500 — — — — 49,500 Home equity - junior lien 70,437 249 19 242 — 70,947 Subtotal: Real estate mortgage 1,391,739 12,638 4,696 2,374 — 1,411,447 Consumer 48,058 — — — — 48,058 Total $ 2,493,020 $ 28,354 $ 23,399 $ 3,398 $ — $ 2,548,171 The following table presents the activity in the allowance by loan portfolio class: Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate (In thousands) industrial land land mortgage Consumer Total Balance, January 1, 2019 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Provision (credit) (302 ) (79 ) (90 ) 1,300 (229 ) 600 Charge-offs (3 ) — — — (96 ) (99 ) Recoveries 102 203 — 20 104 429 Balance, March 31, 2019 $ 11,762 $ 1,884 $ 662 $ 12,001 $ 155 $ 26,464 Construction and development Commercial excluding and undeveloped Undeveloped Real estate (In thousands) industrial land land mortgage Consumer Total Balance, January 1, 2018 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Provision (credit) 761 296 (39 ) (309 ) 26 735 Charge-offs (1,409 ) — — — (119 ) (1,528 ) Recoveries 10 — — 4 97 111 Balance, March 31, 2018 $ 10,638 $ 2,020 $ 482 $ 10,707 $ 356 $ 24,203 The considerations by Bancorp in computing its allowance are determined based on the various risk characteristics of each loan segment. Relevant risk characteristics are as follows: ● Commercial and industrial: Loans in this category are made to businesses. Generally these loans are secured by assets of the business and repayment is expected from cash flows of the business. A decline in the strength of the business or a weakened economy and resultant decreased consumer and/or business spending may ● Construction and development, excluding undeveloped land: Loans in this category primarily include owner-occupied and investment construction loans and commercial development projects. In most cases, construction loans require only interest to be paid during construction. Upon completion or stabilization, the construction loans generally convert to permanent financing in the real estate mortgage segment, requiring principal amortization. Repayment of development loans is derived from sale of lots or units. Credit risk is affected by construction delays, cost overruns, market conditions and availability of permanent financing; to the extent such permanent financing is not ● Undeveloped land: Loans in this category are secured by land acquired for development by the borrower, but for which no not ● Real estate mortgage: Loans in this category are made to and secured by owner-occupied residential real estate, owner-occupied real estate used for business purposes, and income-producing investment properties. For owner occupied residential and owner-occupied commercial real estate, repayment is dependent on financial strength of the borrower. For income-producing investment properties, repayment is dependent on financial strength of tenants, and to a lesser extent the borrowers’ financial strength, once the project is stabilized. Underlying properties are generally located in Bancorp's primary market area. Cash flows of income producing investment properties may ● Consumer: Loans in this category may Impaired loans include non-accrual loans and accruing loans accounted for as troubled debt restructurings (“TDRs”), which continue to accrue interest. Non-performing loans include the balance of impaired loans plus any loans over 90 $454 90 March 31, 2019, $745 December 31, 2018, none March 31, 2018. The following table presents the recorded investment in non-accrual loans: (In thousands) March 31, 2019 December 31, 2018 Commercial and industrial $ 193 $ 192 Construction and development, excluding undeveloped land — 318 Undeveloped land — 474 Real estate mortgage Commercial investment 317 138 Owner occupied commercial 1,466 586 1-4 family residential 843 760 Home equity - first lien — — Home equity - junior lien 454 143 Subtotal: Real estate mortgage 3,080 1,627 Consumer — — Total loans $ 3,273 $ 2,611 In the course of working with borrowers, Bancorp may not At March 31, 2019 December 31, 2018, $39 $42 not three March 31, 2019 March 31, 2018, No twelve March 31, 2019 three March 31, 2019. may At March 31, 2019 December 31, 2018, not As of March 31, 2019 $795 $528 December 31, 2018. The following tables present the balance in the recorded investment in loans and allowance for loans by portfolio loan class and based on impairment evaluation method: (In thousands) Loans Allowance March 31, 2019 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 218 $ 827,529 $ - $ 827,747 $ 25 $ 11,737 $ - $ 11,762 Construction and development, excluding undeveloped land - 216,115 - 216,115 - 1,884 - 1,884 Undeveloped land - 28,433 - 28,433 - 662 - 662 Real estate mortgage 3,094 1,405,057 - 1,408,151 14 11,987 - 12,001 Consumer - 45,263 - 45,263 - 155 - 155 Total $ 3,312 $ 2,522,397 $ - $ 2,525,709 $ 39 $ 26,425 $ - $ 26,464 (In thousands) Loans Allowance December 31, 2018 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 220 $ 833,304 $ - $ 833,524 $ 28 $ 11,937 $ - $ 11,965 Construction and development, excluding undeveloped land 318 224,732 - 225,050 - 1,760 - 1,760 Undeveloped land 474 29,618 - 30,092 - 752 - 752 Real estate mortgage 1,641 1,409,806 - 1,411,447 14 10,667 - 10,681 Consumer - 48,058 - 48,058 - 376 - 376 Total $ 2,653 $ 2,545,518 $ - $ 2,548,171 $ 42 $ 25,492 $ - $ 25,534 The following tables present loans individually evaluated for impairment by loan portfolio class: As of Three months ended March 31, 2019 March 31, 2019 Unpaid Average Interest Recorded principal Related recorded income (In thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 193 $ 710 $ - $ 192 $ - Construction and development, excluding undeveloped land - - - 159 - Undeveloped land - - - 237 - Real estate mortgage Commercial investment 317 317 - 227 - Owner occupied commercial 1,466 1,904 - 1,026 - 1-4 family residential 843 843 - 801 - Home equity - first lien - - - - - Home equity - junior lien 454 454 - 299 - Subtotal: Real estate mortgage 3,080 3,518 - 2,353 - Consumer - - - - - Subtotal $ 3,273 $ 4,228 $ - $ 2,941 $ - Impaired loans with an allowance: Commercial and industrial $ 25 $ 25 $ 25 $ 27 $ 1 Construction and development, excluding undeveloped land - - - - - Undeveloped land - - - - - Real estate mortgage Commercial investment - - - - - Owner occupied commercial - - - - - 1-4 family residential 14 14 14 14 - Home equity - first lien - - - - - Home equity - junior lien - - - - - Subtotal: Real estate mortgage 14 14 14 14 - Consumer - - - - - Subtotal $ 39 $ 39 $ 39 $ 41 $ 1 Total: Commercial and industrial $ 218 $ 735 $ 25 $ 219 $ 1 Construction and development, excluding undeveloped land - - - 159 - Undeveloped land - - - 237 - Real estate mortgage Commercial investment 317 317 - 227 - Owner occupied commercial 1,466 1,904 - 1,026 - 1-4 family residential 857 857 14 815 - Home equity - first lien - - - - - Home equity - junior lien 454 454 - 299 - Subtotal: Real estate mortgage 3,094 3,532 14 2,367 - Consumer - - - - - Total impaired loans $ 3,312 $ 4,267 $ 39 $ 2,982 $ 1 As of Three months ended December 31, 2018 March 31, 2018 Unpaid Average Interest Recorded principal Related recorded income (In thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 192 $ 707 $ - $ 161 $ - Construction and development, excluding undeveloped land 318 489 - 437 - Undeveloped land 474 506 - 474 - Real estate mortgage Commercial investment 138 138 - 35 - Owner occupied commercial 586 1,023 - 1,503 - 1-4 family residential 760 760 - 1,242 - Home equity - first lien - - - - - Home equity - junior lien 143 143 - 73 - Subtotal: Real estate mortgage 1,627 2,064 - 2,853 - Consumer - - - 23 - Subtotal $ 2,611 $ 3,766 $ - $ 3,948 $ - Impaired loans with an allowance: Commercial and industrial $ 28 $ 28 $ 28 $ 1,851 $ - Construction and development, excluding undeveloped land - - - - - Undeveloped land - - - 24 - Real estate mortgage Commercial investment - - - - - Owner occupied commercial - - - 897 - 1-4 family residential 14 14 14 14 - Home equity - first lien - - - - - Home equity - junior lien - - - - - Subtotal: Real estate mortgage 14 14 14 911 - Consumer - - - - - Subtotal $ 42 $ 42 $ 42 $ 2,786 $ - Total: Commercial and industrial $ 220 $ 735 $ 28 $ 2,012 $ - Construction and development, excluding undeveloped land 318 489 - 437 - Undeveloped land 474 506 - 498 - Real estate mortgage - - - - - Commercial investment 138 138 - 35 - Owner occupied commercial 586 1,023 - 2,400 - 1-4 family residential 774 774 14 1,256 - Home equity - first lien - - - - - Home equity - junior lien 143 143 - 73 - Subtotal: Real estate mortgage 1,641 2,078 14 3,764 - Consumer - - - 23 - Total impaired loans $ 2,653 $ 3,808 $ 42 $ 6,734 $ - Differences between recorded investment amounts and unpaid principal balance amounts less related allowance are due to partial charge-offs which have occurred over the lives of certain loans. The following table presents the aging of the recorded investment in loans by portfolio class: Recorded (In thousands) 90 or more investment days past due > 90 days 30-59 days 60-89 days (includes all Total Total and March 31, 2019 Current past due past due non-accrual) past due loans accruing Commercial and industrial $ 827,165 $ 366 $ 23 $ 193 $ 582 $ 827,747 $ - Construction and development, excluding undeveloped land 216,115 - - - - 216,115 - Undeveloped land 28,433 - - - - 28,433 - Real estate mortgage: Commercial investment 585,673 232 56 687 975 586,648 370 Owner occupied commercial 426,347 350 - 1,466 1,816 428,163 - 1-4 family residential 276,143 594 252 858 1,704 277,847 15 Home equity - first lien 48,498 49 40 69 158 48,656 69 Home equity - junior lien 66,188 171 24 454 649 66,837 - Subtotal: Real estate mortgage 1,402,849 1,396 372 3,534 5,302 1,408,151 454 Consumer 45,239 24 - - 24 45,263 - Total $ 2,519,801 $ 1,786 $ 395 $ 3,727 $ 5,908 $ 2,525,709 $ 454 December 31, 2018 Commercial and industrial $ 832,923 $ 197 $ 200 $ 204 $ 601 $ 833,524 $ 12 Construction and development, excluding undeveloped land 224,732 - - 318 318 225,050 - Undeveloped land 29,552 66 - 474 540 30,092 - Real estate mortgage: Commercial investment 586,884 1,382 107 237 1,726 588,610 99 Owner occupied commercial 421,143 2,732 1,377 1,121 5,230 426,373 535 1-4 family residential 274,547 374 336 760 1,470 276,017 - Home equity - first lien 49,321 179 - - 179 49,500 - Home equity - junior lien 70,467 182 56 242 480 70,947 99 Subtotal: Real estate mortgage 1,402,362 4,849 1,876 2,360 9,085 1,411,447 733 Consumer 48,058 - - - - 48,058 - Total $ 2,537,627 $ 5,112 $ 2,076 $ 3,356 $ 10,544 $ 2,548,171 $ 745 |
Note 5 - Goodwill and Intangibl
Note 5 - Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | ( 5 Goodwill and Intangible Assets US GAAP requires that goodwill and intangible assets with indefinite useful lives not $682 1996 No Bancorp recorded a gross core deposit intangible totaling $2.5 2013 March 31, 2019, December 31, 2018, $1.0 $1.1 Mortgage servicing rights (“MSRs”), a component of other assets, are initially recognized at fair value when mortgage loans are sold with servicing retained. The MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions. MSRs are evaluated quarterly for impairment by comparing carrying value to fair value. Estimated fair values of MSRs at March 31, 2019 December 31, 2018 $3.2 $3.6 $324.9 $327.9 March 31, 2019, December 31, 2018, Changes in the net carrying amount of MSRs follows: Three months ended March 31, (In thousands) 2019 2018 Balance at beginning of period $ 1,022 $ 875 Additions for mortgage loans sold 80 21 Amortization (32 ) (35 ) Balance at end of period $ 1,070 $ 861 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 6 Income Taxes In March 2019, HB354 2021. 1.1% $2.5 two 5% first 2019, $1.3 $0.06 first 2019. $200 2021. Three months ended March 31, (In thousands) 2019 2018 Current income tax expense: Federal $ 2,726 $ 2,436 State 141 128 Total current income tax expense 2,867 2,564 Deferred income tax expense (benefit) : Federal 565 467 State (1,613 ) 21 Total deferred income tax expense (1,048 ) 488 Change in valuation allowance 20 - Total income tax expense $ 1,839 $ 3,052 An analysis of the difference between statutory and effective income tax rates follows: Three months ended March 31, 2019 2018 U.S. federal statutory income tax rate 21.0 % 21.0 % Kentucky state income tax enactment (7.3 ) - Excess tax benefits from share-based compensation arrangements (1.7 ) (1.9 ) Increase in cash surrender value of life insurance (1.2 ) (0.4 ) Tax credits (0.7 ) (0.4 ) Tax exempt interest income (0.3 ) (0.5 ) State income taxes, net of federal benefit 0.7 0.7 Other, net - - Effective income tax rate 10.5 % 18.5 % State income tax expense represents tax owed in Indiana. Kentucky and Ohio state bank taxes are based on capital levels, and are recorded as other non-interest expense. See comment above regarding recent changes in Kentucky tax law. US GAAP provides guidance on financial statement recognition and measurement of tax positions taken, or expected to be taken, in tax returns. If recognized, tax benefits would reduce tax expense and accordingly, increase net income. The amount of unrecognized tax benefits may March 31, 2019 December 31, 2018, 2014. |
Note 7 - Deposits
Note 7 - Deposits | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 7 Deposits The composition of the Bank’s deposits follows: (In thousands) March 31, 2019 December 31, 2018 Non-interest bearing demand deposits $ 698,783 $ 711,023 Interest bearing deposits: Interest bearing demand 847,240 892,867 Savings 160,988 155,007 Money market 689,085 688,744 Time deposits of $250 or more 54,479 55,182 Other time deposits (1) 301,965 291,533 Total time deposits 356,444 346,715 Total interest bearing deposits 2,053,757 2,083,333 Total deposits $ 2,752,540 $ 2,794,356 ( 1 Includes $ 29.8 March 31, 2019 December 31, 2018. Maturities of time deposits of $250,000 March 31, 2019, (In thousands) Amount 3 months or less $ 8,750 Over 3 months through 6 months 6,320 Over 6 months through 12 months 9,862 Over 1 year through 3 years 28,054 Over 3 years 1,493 Total time deposits of $250 or more $ 54,479 |
Note 8 - Securities Sold Under
Note 8 - Securities Sold Under Agreements to Repurchase | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | ( 8 Securities Sold Under Agreements to Repurchase SSUAR represent a funding source of Bancorp and are primarily used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one March 31, 2019, Information concerning SSR follows: (Dollars in thousands) March 31, 2019 December 31, 2018 Outstanding balance at end of period $ 34,633 $ 36,094 Weighted average interest rate at end of period 0.30 % 0.24 % Three months ended March 31, (Dollars in thousands) 2019 2018 Average outstanding balance during the period $ 37,528 $ 71,276 Average interest rate during the period 0.27 % 0.19 % Maximum outstanding at any month end during the period $ 38,445 $ 74,725 |
Note 9 - Federal Home Loan Bank
Note 9 - Federal Home Loan Bank Advances | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 9 Federal Home Loan Bank Advances Bancorp had outstanding borrowings totaling $47.9 $48.2 March 31, 2019 December 31, 2018, 14 March 31, 2019, two $30 The following is a summary of the contractual maturities and average effective rates of outstanding advances: (In thousands) March 31, 2019 December 31, 2018 Year Advance Weighted average Fixed Rate Advance Weighted average Fixed Rate 2019 $ 30,000 2.61 % $ 30,000 2.54 % 2020 1,678 2.23 1,691 2.23 2021 196 2.12 215 2.12 2024 2,186 2.36 2,240 2.36 2025 4,494 2.42 4,626 2.42 2026 8,089 1.99 8,185 1.99 2028 1,210 1.49 1,220 1.49 Total $ 47,853 2.43 % $ 48,177 2.39 % FHLB advances are collateralized by certain commercial and residential real estate mortgage loans under a blanket mortgage collateral pledge agreement and FHLB stock. Bancorp views these advances to be an effective alternative to brokered deposits to fund loan growth. At March 31, 2019, December 31, 2018, $523.7 $537.0 $105 March 31, 2019, December 31, 2018. |
Note 10 - Other Comprehensive I
Note 10 - Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 10 Other Comprehensive Income (Loss) The following table illustrates activity within the balances in accumulated other comprehensive income (“AOCI”) by component, and is shown for the three March 31, 2019 2018. Net unrealized Net unrealized Minimum gains (losses) gains (losses) pension on securities on cash liability (In thousands) available for sale flow hedges adjustment Total Balance, January 1, 2018 $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Net current period other comprehensive income (loss) (3,718 ) 310 - (3,408 ) Reclassification adjustment for adoption of ASU 2018-02 (496 ) 41 (51 ) (506 ) Balance, March 31, 2018 $ (5,995 ) $ 544 $ (393 ) $ (5,844 ) Balance, January 1, 2019 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) Net current period other comprehensive income (loss) 2,794 (174 ) 9 2,629 Balance, March 31, 2019 $ (2,536 ) $ 234 $ (211 ) $ (2,513 ) |
Note 11 - Preferred Stock
Note 11 - Preferred Stock | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | ( 11 Preferred Stock Bancorp has a class of preferred stock ( no 1,000,000 None |
Note 12 - Net Income Per Share
Note 12 - Net Income Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 12 Net Income Per Share The following table reflects, for the three March 31, 2019 2018, Three months ended (In thousands, except per share data) March 31, 2019 2018 Net income $ 15,641 $ 13,404 Weighted average shares outstanding - basic 22,661 22,577 Dilutive securities 285 354 Weighted average shares outstanding- diluted 22,946 22,931 Net income per share, basic $ 0.69 $ 0.59 Net income per share, diluted $ 0.68 $ 0.58 SARs of 188 $33.08 $40.00 March 31, 2019, not |
Note 13 - Defined Benefit Plan
Note 13 - Defined Benefit Plan | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ( 13 Defined Benefit Plan Bancorp sponsors an unfunded, non-qualified, defined benefit retirement plan for three one two no 25 |
Note 14 - Stock-based Compensat
Note 14 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 14 Stock-Based Compensation The fair value of all stock-based awards granted, net of estimated forfeitures, is recognized as compensation expense over the respective service period. At Bancorp's 2015 2015 2005 2015 2018 500 March 31, 2019, 506 S tock O ptions – no March 31, 2019 December 31, 2018. Stock appreciation rights (“SARs”) – 20% ten Fair values of SARs are estimated at the date of grant using the Black-Scholes option pricing model, a leading formula for calculating such value. This model requires the input of assumptions, changes to which can materially affect the fair value estimate. The following assumptions were used in SAR valuations at the grant date in each year: Dividend yield and expected volatility are based on historical information for Bancorp corresponding to the expected life of SARs granted. Expected volatility is the volatility of the underlying shares for the expected term on a monthly basis. The risk free interest rate is the implied yield currently available on U.S. Treasury issues with a remaining term equal to the expected life of the awards. The expected life of SARs is based on past experience of similar-life SARs. Bancorp evaluates historical exercise and post-vesting termination behavior when determining the expected life. 2019 2018 Dividend yield 2.52 % 2.56 % Expected volatility 20.40 % 20.17 % Risk free interest rate 2.55 % 2.96 % Expected life of SARs (in years) 7.2 7.0 Restricted stock awards (“RSAs”) five 2015, 2015 Grants of performance stock units (“PSUs”) three January 1 first not one 4.1%, 4.3% 5.1% 2019, 2018, 2017, Grants of restricted stock units (“RSUs”) 12 Bancorp utilized cash of $210 first three 2019 $156 first three 2018 Bancorp has recognized stock-based compensation expense SARs, RSAs, and PSUs within compensation expense, and RSUs for directors within other non-interest expense, as follows: Three months ended March 31, 2019 (In thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 84 $ 293 $ 81 $ 405 $ 863 Deferred tax benefit (18 ) (61 ) (17 ) (85 ) (181 ) Total net expense $ 66 $ 232 $ 64 $ 320 $ 682 Three months ended March 31, 2018 (In thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 73 $ 276 $ 63 $ 411 $ 823 Deferred tax benefit (15 ) (58 ) (13 ) (87 ) (173 ) Total net expense $ 58 $ 218 $ 50 $ 324 $ 650 As of March 31, 2019, $7.6 (In thousands) Stock Year ended Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Remainder of 2019 $ 253 $ 900 $ 248 $ 1,215 $ 2,616 2020 293 1,053 2 947 2,295 2021 235 833 - 466 1,534 2022 181 561 - - 742 2023 105 310 - - 415 2024 7 25 - - 32 Total estimated expense $ 1,074 $ 3,682 $ 250 $ 2,628 $ 7,634 The following table summarizes SARs activity and related information: Weighted Weighted Weighted average average Aggregate average remaining Exercise exercise intrinsic fair contractual (In thousands, except per share data) SARs price price value(1) value life (in years) Outstanding, January 1, 2018 704 $14.02 - $40.00 $ 19.51 $ 12,923 $ 3.47 5.1 Granted 100 35.90 - 39.32 37.75 - 6.07 Exercised (73 ) 14.02 - 19.37 15.32 1,654 3.43 Forfeited - - - - - Outstanding, December 31, 2018 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.82 5.2 Outstanding, January 1, 2019 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.82 Granted 40 36.65 - 36.65 36.65 - 6.61 Exercised (26 ) 14.02 - 19.37 14.71 529 3.55 Forfeited - - - - - Outstanding, March 31, 2019 745 $14.02 - $40.00 $ 23.45 $ 8,639 $ 3.98 5.4 Vested and exercisable 535 $14.02 - $40.00 $ 19.01 $ 8,169 $ 3.35 4.1 Unvested 210 19.44 - 40.00 34.78 470 5.60 8.6 Outstanding, March 31, 2019 745 $14.02 - $40.00 $ 23.45 $ 8,639 $ 3.98 5.4 Vested at March 31, 2019 69 $19.37 - $40.00 $ 26.77 $ 574 $ 4.44 ( 1 In trinsic value for SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price. The following table summarizes activity for RSAs granted to officers: (In thousands, except per share data) RSAs Grant date weighted average cost Unvested at January 1, 2018 119 $ 27.62 Shares awarded 40 35.89 Restrictions lapsed and shares released (44 ) 23.62 Shares forfeited (5 ) 31.35 Unvested at December 31, 2018 110 $ 32.09 Unvested at January 1, 2019 110 $ 32.09 Shares awarded 39 34.88 Restrictions lapsed and shares released (39 ) 28.66 Shares forfeited - - Unvested at March 31, 2019 110 $ 34.31 Expected shares to be awarded for PSUs granted to executive officers of Bancorp, the three January 1 Vesting Expected Grant period Fair shares to year in years value be awarded 2017 3 $ 35.66 61,893 2018 3 31.54 50,352 2019 3 32.03 43,602 In the first 2019, 9,834 $330 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 15 Commitments and Contingent Liabilities As of March 31, 2019 December 31, 2018, not (In thousands) March 31, 2019 December 31, 2018 Commercial and Industrial $ 354,903 $ 309,920 Construction - Commercial 201,465 163,314 Construction - Residential 14,785 16,050 Home Equity 149,584 147,907 Credit Cards 19,912 20,003 Overdrafts 21,558 21,751 Letters of credit 20,374 20,891 Other 33,748 33,369 Future loan commitments 213,087 101,399 Total off balance sheet commitments to extend credit $ 1,029,416 $ 834,604 Commitments to extend credit are an agreement to lend to a customer as long as collateral is available as agreed upon and there is no not may March 31, 2019 December 31, 2018, $350 Standby letters of credit and financial guarantees written are conditional commitments issued by Bancorp to guarantee the performance of a customer to a first one two As of March 31, 2019, not |
Note 16 - Assets and Liabilitie
Note 16 - Assets and Liabilities Measured and Reported at Fair Value | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | ( 16 Assets and Liabilities Measured and Reported at Fair Value Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three may ● Level 1: ● Level 2: not ● Level 3: not Authoritative guidance requires maximization of use of observable inputs and minimization of use of unobservable inputs in fair value measurements. Where there exists limited or no may not At March 31, 2019 December 31, 2018, All available for sale securities are priced using standard industry models or matrices with various assumptions such as yield curves, volatility, prepayment speeds, default rates, time value, credit rating and market prices for similar instruments. These assumptions are observable in the market place and can be derived from or supported by observable data. These measurements are classified as Level 2. Fair value measurements for interest rate swaps are based on benchmark forward yield curves and other relevant observable market data. For purposes of potential valuation adjustments to derivative positions, Bancorp evaluates the credit risk of its counterparties as well as its own credit risk. To date, Bancorp has not not 2 Mortgage servicing rights, impaired loans and OREO are recorded at fair value on a non-recurring basis, generally in the application of lower of cost or market adjustments or write-downs of specific assets. Carrying values of assets measured at fair value on a recurring basis follows: (In thousands) Fair value at March 31, 2019 Assets Total Level 1 Level 2 Level 3 Securities available for sale Government sponsored enterprise obligations $ 342,866 $ - $ 342,866 $ - Mortgage backed securities - government agencies 137,131 - 137,131 - Obligations of states and political subdivisions 27,134 - 27,134 - Total Securities available for sale 507,131 - 507,131 - Interest rate swaps 524 - 524 - Total assets $ 507,655 $ - $ 507,655 $ - Liabilities Interest rate swaps $ 240 $ - $ 240 $ - (In thousands) Fair value at December 31, 2018 Assets Total Level 1 Level 2 Level 3 Securities available for sale Government sponsored enterprise obligations 261,039 - 261,039 - Mortgage backed securities - government agencies 146,277 - 146,277 - Obligations of states and political subdivisions 29,679 - 29,679 - Total Securities available for sale 436,995 - 436,995 - Interest rate swaps 1,035 - 1,035 - Total assets $ 438,030 $ - $ 438,030 $ - Liabilities Interest rate swaps $ 543 $ - $ 543 $ - For the securities portfolio, Bancorp monitors the valuation technique used by pricing agencies to ascertain when transfers between levels have occurred. The nature of other assets and liabilities measured at fair value is such that transfers in and out of any level are expected to be rare. For the three March 31, 2019, no 1, 2, 3. Bancorp had no 3 March 31, 2019 December 31, 2018. Discussion of assets measured at fair value on a non-recurring basis follows: Mortgage Servicing Rights 3. March 31, 2019 December 31, 2018, no not March 31, 2019 December 31, 2018. Impaired loans 3 may may may third March 31, 2019, $408 $39 $369 $967 $42 $925 December 31, 2018. Other real estate owned (“OREO”) may not 3. March 31, 2019 December 31, 2018, $878 $1.0 Below are the carrying values of assets measured at fair value on a non-recurring (In thousands) Fair value at March 31, 2019 Losses recorded: Three months ended Total Level 1 Level 2 Level 3 March 31, 2019 Impaired loans $ 369 $ - $ - $ 369 $ (3 ) Other real estate owned 239 - - 239 - Total $ 608 $ - $ - $ 608 $ (3 ) (In thousands) Fair value at December 31, 2018 Losses recorded: Three months ended Total Level 1 Level 2 Level 3 March 31, 2018 Impaired loans $ 925 $ - $ - $ 925 $ (1,711 ) Other real estate owned 239 - - 239 - Total $ 1,164 $ - $ - $ 1,164 $ (1,711 ) For Level 3 March 31, 2019, Range Fair Valuation Unobservable (weighted (Dollars in thousands) value technique inputs average) Impaired loans - collateral dependent $ 369 Appraisal Appraisal discounts 9.8 % Other real estate owned 239 Appraisal Appraisal discounts 22.0 |
Note 17 - Disclosure of Financi
Note 17 - Disclosure of Financial Instruments Not Reported at Fair Value | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 17 Disclosure of Financial Instruments Not US GAAP requires disclosure of the fair value of financial assets and liabilities, including those financial assets and financial liabilities that are not (In thousands) Carrying March 31, 2019 amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 111,340 $ 111,340 $ 111,340 $ - $ - Mortgage loans held for sale 2,981 3,089 - 3,089 - Federal Home Loan Bank stock 9,779 9,779 9,779 Loans, net 2,499,245 2,486,416 - - 2,486,416 Accrued interest receivable 8,710 8,710 8,710 - - Liabilities Non-interest bearing deposits 698,783 698,783 698,783 - - Transaction deposits 1,697,313 1,697,313 - 1,697,313 - Time deposits 356,444 355,947 - 355,947 - Securities sold under agreement to repurchase 34,633 34,633 - 34,633 - Federal funds purchased 12,218 12,218 - 12,218 - FHLB advances 47,853 47,295 - 47,295 - Accrued interest payable 709 709 709 - - (In thousands) Carrying December 31, 2018 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 198,939 $ 198,939 $ 198,939 $ - $ - Mortgage loans held for sale 1,675 1,743 - 1,743 - Federal Home Loan Bank stock 10,370 10,370 10,370 Loans, net 2,522,637 2,508,587 - - 2,508,587 Accrued interest receivable 8,360 8,360 8,360 - - Financial liabilities Non-interest bearing deposits 711,023 711,023 711,023 - - Transaction deposits 1,736,618 - - 1,736,618 - Time deposits 346,715 - - 345,273 - Securities sold under agreement to repurchase 36,094 36,094 - 36,094 - Federal funds purchased 10,247 10,247 - 10,247 - FHLB advances 48,177 47,227 - 47,227 - Accrued interest payable 762 762 762 - - Limitations Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no may not |
Note 18 - Derivative Financial
Note 18 - Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ( 18 Derivative Financial Instruments Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. These are undesignated derivative instruments and are recognized on the balance sheet at fair value. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Exchanges of cash flows related to undesignated interest rate swap agreements for the first three 2019 no Interest rate swap agreements derive their value from underlying interest rates. These transactions involve both credit and market risk. Notional amounts are amounts on which calculations, payments, and the value of the derivative are based. Notional amounts do not not At March 31, 2019 December 31, 2018, (Dollars in thousands) Receiving Paying March 31, December 31, March 31, December 31, 2019 2018 2019 2018 Notional amount $ 54,286 $ 55,505 $ 54,286 $ 55,505 Weighted average maturity (years) 7.7 8.0 7.7 8.0 Fair value $ 217 $ 519 $ 240 $ 543 In 2016, $10 three December 6, 2016 December 6, 2021. 2015, $20 three December 9, 2015 December 6, 2020. The following table details Bancorp’s derivative position designated as a cash flow hedge, and the fair values as of March 31, 2019 December 31, 2018. (Dollars in thousands) Fair value Notional Maturity Receive (variable) Pay fixed assets (liabilities) amount date index swap rate March 31, 2019 December 31, 2018 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ 106 $ 193 20,000 12/6/2020 US 3 Month LIBOR 1.79 % 201 323 $ 30,000 1.82 % $ 307 $ 516 |
Note 19 - Regulatory Matters
Note 19 - Regulatory Matters | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 19 Regulatory Matters Bancorp and the Bank are subject to capital regulations in accordance with Basel III, as administered by banking regulators. Regulatory agencies measure capital adequacy within a framework that makes capital requirements, in part, dependent on the individual risk profiles of financial institutions. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Bancorp’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Holding Company and the Bank must meet specific capital guidelines that involve quantitative measures of Bancorp’s assets, liabilities and certain off-balance sheet items, as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators regarding components, risk weightings and other factors. Banking regulators have categorized the Bank as well-capitalized. For prompt corrective action, the regulations in accordance with Basel III define “well capitalized” as a 6.5% 1 8.0% 1 10.0% 5.0% 1 1 2016 2019 0.625% January 1, 2016; 1.25% January 1, 2017; 1.875% January 1, 2018; 2.5% January 1, 2019. Bancorp continues to exceed the regulatory requirements for Total Risk Based Capital, Common Equity Tier I Risk Based, Tier I Risk Based Capital and Tier I Leverage Capital. Bancorp and the Bank intend to maintain a capital position that meets or exceeds the “well-capitalized” requirements as defined by the FRB and the FDIC, in addition to the Capital Conservation Buffer. The following table sets forth consolidated Bancorp’s and the Bank’s risk based capital amounts and ratios: (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized March 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 405,845 14.04 % $ 231,221 8.00 % NA NA Bank 396,707 13.74 230,901 8.00 $ 288,626 10.00 % Common equity tier 1 risk-based capital Consolidated 379,031 13.11 130,062 4.50 NA NA Bank 369,893 12.82 129,882 4.50 187,607 6.50 Tier 1 risk-based capital (1) Consolidated 379,031 13.11 173,416 6.00 NA NA Bank 369,893 12.82 173,176 6.00 230,901 8.00 Leverage (2) Consolidated 379,031 11.57 130,989 4.00 NA NA Bank 369,893 11.31 130,837 4.00 163,546 5.00 (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 396,019 13.91 % $ 227,714 8.00 % NA NA Bank 385,637 13.56 227,462 8.00 $ 284,327 10.00 % Common equity tier 1 risk-based capital Consolidated 370,135 13.00 128,089 4.50 NA NA Bank 359,753 12.65 127,947 4.50 184,813 6.50 Tier 1 risk-based capital (1) Consolidated 370,135 13.00 170,785 6.00 NA NA Bank 359,753 12.65 170,596 6.00 227,462 8.00 Leverage (2) Consolidated 370,135 11.33 130,698 4.00 NA NA Bank 359,753 11.02 130,569 4.00 163,211 5.00 ( 1 Ratio is computed in relation to risk-weighted assets. ( 2 Ratio is computed in relation to average assets. NA Not not |
Note 20 - Segments
Note 20 - Segments | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 20 Segments Bancorp’s principal activities include commercial banking and WM&T. Commercial banking provides a full range of loan and deposit products to individual consumers and businesses. Commercial banking also includes Bancorp’s mortgage origination and investment products sales activity. WM&T provides financial management services including investment management, trust and estate administration, and retirement plan services. Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax exempt activity. All tax exempt activity and provision for loan losses have been allocated to the commercial banking segment. Measurement of performance of business segments is based on the management structure of Bancorp and is not not Principally, all of the net assets of Bancorp are involved in the commercial banking segment. Goodwill of $682,000 1996 Selected financial information by business segment for the three March 31, 2019 2018 Wealth Commercial management (In thousands) banking and trust Total Three months ended March 31, 2019 Net interest income $ 29,581 $ 76 $ 29,657 Provision 600 - 600 Wealth management and trust services - 5,439 5,439 All other non-interest income 5,623 - 5,623 Non-interest expenses 19,606 3,033 22,639 Income before income tax expense 14,998 2,482 17,480 Income tax expense 1,300 539 1,839 Net income $ 13,698 $ 1,943 $ 15,641 Segment assets $ 3,279,248 $ 1,768 $ 3,281,016 Three months ended March 31, 2018 Net interest income $ 27,238 $ 71 $ 27,309 Provision 735 - 735 Wealth management and trust services - 5,500 5,500 All other non-interest income 5,409 - 5,409 Non-interest expenses 17,829 3,198 21,027 Income before income tax expense 14,083 2,373 16,456 Income tax expense 2,537 515 3,052 Net income $ 11,546 $ 1,858 $ 13,404 Segment assets $ 3,283,539 $ 1,941 $ 3,285,480 |
Note 21 - Revenue From Contract
Note 21 - Revenue From Contracts With Customers | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 21 Revenue from Contracts with Customers All of Bancorp’s revenue from contracts with customers in the scope of ASC 606 606 Three months ended March 31, 2019 (Dollars in thousands) Commercial WM&T Consolidated Wealth management and trust services $ - $ 5,439 $ 5,439 Deposit service charges 1,247 1,247 Debit and credit card income 1,744 1,744 Treasury management fees 1,157 1,157 Mortgage banking income (1) 482 482 Net investment product sales commissions and fees 356 356 Bank owned life insurance (1) 178 178 Other (2) 459 459 Total non-interest income $ 5,623 $ 5,439 $ 11,062 Three months ended March 31, 2018 (Dollars in thousands) Commercial WM&T Consolidated Wealth management and trust services $ - $ 5,500 $ 5,500 Deposit service charges 1,411 1,411 Debit and credit card income 1,508 1,508 Treasury management fees 1,047 1,047 Mortgage banking income (1) 576 576 Net investment product sales commissions and fees 404 404 Bank owned life insurance (1) 187 187 Other (2) 276 276 Total non-interest income $ 5,409 $ 5,500 $ 10,909 ( 1 606 ( 2 606 Revenue sources within the scope of ASC 606 Bancorp earns fees from its deposit customers for transactions-based, account management, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payments fees, and ACH fees, are recognized at the time the transaction is executed as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided. Overdraft fees are recognized at the point in time that the overdraft occurs. Deposit service charges are withdrawn from customer’s account balances. Treasury management transaction fees are recognized at the time the transaction is executed as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided. Treasury management fees are withdrawn from customer’s account balances. WM&T provides customers fiduciary and investment management services as agreed upon in asset management contracts. The contracts require WM&T to provide a series of distinct services for which fees are earned over time. The contracts are cancellable upon demand with fees typically based upon the asset value of investments. Revenue is accrued and recognized monthly based upon month-end asset values and collected from the customer predominately in the following month except for a small percentage of fees collected quarterly. Incentive compensation related to WM&T activities is considered a cost of obtaining the contract. Contracts between WM&T and clients do not none March 31, 2019 $2.0 $1.9 December 31, 2018. Investment products sales commissions and fees represent the Bank’s share of transaction fees and wrap fees resulting from investment services and programs provided through an agent relationship with a third third not $1 $1 $133 $137 three March 31, 2019, 2018 Debit and credit card revenue primarily consists of debit and credit card interchange income. Interchange income represents fees assessed within the payment card system for acceptance of card based transactions. Interchange fees are assessed as the performance obligation is satisfied, which is at the point in time the card transaction is authorized. Revenue is collected and recognized daily through the payment network settlement process. Bancorp did not 606, nor first 2019. Bancorp’s revenue on the consolidated statement of income is categorized by product type, which effectively depicts how the nature, timing, and extent of cash flows are affected by economic factors. |
Note 22 - Leases
Note 22 - Leases | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 22 Leases Bancorp has operating leases for various branch locations with terms remaining from three 14 five 12 not Balance sheet, income statement, and cash flow detail regarding operating leases follows: (In thousands) As of and for the three months ended Balance Sheet March 31, 2019 Operating lease right-of-use assets $ 16,392 included in other assets Operating lease liabilities 17,713 included in other liabilities Weighted average remaining lease term (years) 12.28 Weighted average discount rate 3.61 % Maturities of lease liabilities: Year 1 $ 1,953 Year 2 1,940 Year 3 1,918 Year 4 1,942 Year 5 1,974 Thereafter 12,323 Total lease payments $ 22,050 Less imputed interest 4,337 Total $ 17,713 (In thousands) Three months ended Income Statement March 31, 2019 Components of lease expense Operating lease cost $ 508 Variable lease cost 39 Less sublease income 14 Total lease cost $ 533 (In thousands) Three months ended Cash flow Statement March 31, 2019 Supplemental cash flow information: Operating cash flows from operating leases $ 354 As of March 31, 2019 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The Bank, chartered in 1904, 38 As of March 31, 2019, two Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses through commercial lending, retail lending, deposit services, treasury management services, private banking, online banking, mobile banking, merchant services, workplace banking, international banking, correspondent banking and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third WM&T, with approximately $3 The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not three March 31, 2019 not may December 31, 2019. 10 December 31, 2018. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Updates (“ASUs”) The following ASU was issued prior to March 31, 2019 not not In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments December 15, 2019. one January 1, 2020. December 2018 three As a result of this ASU, Bancorp could experience an increase in its allowance. Bancorp has formed a committee to oversee its transition to the CECL methodology. Bancorp has devoted internal resources and purchased a third Recently adopted accounting standards Bancorp adopted ASU 2016 02, Leases January 1, 2019 $17 $18 March 31, 2019. not one not The adoption of this ASU did not not |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (In thousands) Amortized Unrealized March 31, 2019 cost Gains Losses Fair value Government sponsored enterprise obligations $ 344,590 $ 139 $ (1,863 ) $ 342,866 Mortgage backed securities - government agencies 138,768 570 (2,207 ) 137,131 Obligations of states and political subdivisions 27,095 97 (58 ) 27,134 Total securities available for sale $ 510,453 $ 806 $ (4,128 ) $ 507,131 December 31, 2018 Government sponsored enterprise obligations 264,234 156 (3,351 ) 261,039 Mortgage backed securities - government agencies 149,748 282 (3,753 ) 146,277 Obligations of states and political subdivisions 29,760 107 (188 ) 29,679 Total securities available for sale $ 443,742 $ 545 $ (7,292 ) $ 436,995 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (In thousands) Amortized Cost Fair Value Due within 1 year $ 205,633 $ 205,367 Due after 1 year but within 5 years 60,622 60,113 Due after 5 years but within 10 years 7,171 7,091 Due after 10 years 98,259 97,429 Mortgage backed securities - government agencies 138,768 137,131 Total securities available for sale $ 510,453 $ 507,131 |
Schedule of Unrealized Loss on Investments [Table Text Block] | (In thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2019 value losses value losses value losses Government sponsored enterprise obligations $ 183,279 $ (151 ) $ 133,375 $ (1,712 ) $ 316,654 $ (1,863 ) Mortgage-backed securities - government agencies — — 109,690 (2,207 ) 109,690 (2,207 ) Obligations of states and political subdivisions — — 15,490 (58 ) 15,490 (58 ) Total temporarily impaired securities $ 183,279 $ (151 ) $ 258,555 $ (3,977 ) $ 441,834 $ (4,128 ) December 31, 2018 Government sponsored enterprise obligations 96,740 (38 ) 149,320 (3,313 ) 246,060 (3,351 ) Mortgage-backed securities - government agencies 3,108 (5 ) 120,848 (3,748 ) 123,956 (3,753 ) Obligations of states and political subdivisions 814 (1 ) 17,639 (187 ) 18,453 (188 ) Total temporarily impaired securities $ 100,662 $ (44 ) $ 287,807 $ (7,248 ) $ 388,469 $ (7,292 ) |
Note 4 - Loans and Leases (Tabl
Note 4 - Loans and Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Commercial and industrial $ 827,747 $ 833,524 Construction and development, excluding undeveloped land (1) 216,115 225,050 Undeveloped land 28,433 30,092 Real estate mortgage Commercial investment 586,648 588,610 Owner occupied commercial 428,163 426,373 1-4 family residential 277,847 276,017 Home equity - first lien 48,656 49,500 Home equity - junior lien 66,837 70,947 Subtotal: Real estate mortgage 1,408,151 1,411,447 Consumer 45,263 48,058 Total loans $ 2,525,709 $ 2,548,171 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Substandard Total March 31, 2019 Pass OAEM Substandard non-performing Doubtful loans Commercial and industrial $ 791,469 $ 18,453 $ 17,607 $ 218 $ — $ 827,747 Construction and development, excluding undeveloped land 216,115 — — — — 216,115 Undeveloped land 28,433 — — — — 28,433 Real estate mortgage: Commercial investment 580,591 1,145 4,224 688 — 586,648 Owner occupied commercial 408,777 13,628 4,292 1,466 — 428,163 1-4 family residential 275,293 1,522 161 871 — 277,847 Home equity - first lien 48,587 — — 69 — 48,656 Home equity - junior lien 66,129 235 19 454 — 66,837 Subtotal: Real estate mortgage 1,379,377 16,530 8,696 3,548 — 1,408,151 Consumer 45,263 — — — — 45,263 Total $ 2,460,657 $ 34,983 $ 26,303 $ 3,766 $ — $ 2,525,709 December 31, 2018 Commercial and industrial $ 803,073 $ 11,516 $ 18,703 $ 232 $ — $ 833,524 Construction and development, excluding undeveloped land 220,532 4,200 — 318 — 225,050 Undeveloped land 29,618 — — 474 — 30,092 Real estate mortgage: Commercial investment 586,543 1,815 15 237 — 588,610 Owner occupied commercial 411,722 9,030 4,500 1,121 — 426,373 1-4 family residential 273,537 1,544 162 774 — 276,017 Home equity - first lien 49,500 — — — — 49,500 Home equity - junior lien 70,437 249 19 242 — 70,947 Subtotal: Real estate mortgage 1,391,739 12,638 4,696 2,374 — 1,411,447 Consumer 48,058 — — — — 48,058 Total $ 2,493,020 $ 28,354 $ 23,399 $ 3,398 $ — $ 2,548,171 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate (In thousands) industrial land land mortgage Consumer Total Balance, January 1, 2019 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Provision (credit) (302 ) (79 ) (90 ) 1,300 (229 ) 600 Charge-offs (3 ) — — — (96 ) (99 ) Recoveries 102 203 — 20 104 429 Balance, March 31, 2019 $ 11,762 $ 1,884 $ 662 $ 12,001 $ 155 $ 26,464 Construction and development Commercial excluding and undeveloped Undeveloped Real estate (In thousands) industrial land land mortgage Consumer Total Balance, January 1, 2018 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Provision (credit) 761 296 (39 ) (309 ) 26 735 Charge-offs (1,409 ) — — — (119 ) (1,528 ) Recoveries 10 — — 4 97 111 Balance, March 31, 2018 $ 10,638 $ 2,020 $ 482 $ 10,707 $ 356 $ 24,203 (In thousands) Loans Allowance March 31, 2019 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 218 $ 827,529 $ - $ 827,747 $ 25 $ 11,737 $ - $ 11,762 Construction and development, excluding undeveloped land - 216,115 - 216,115 - 1,884 - 1,884 Undeveloped land - 28,433 - 28,433 - 662 - 662 Real estate mortgage 3,094 1,405,057 - 1,408,151 14 11,987 - 12,001 Consumer - 45,263 - 45,263 - 155 - 155 Total $ 3,312 $ 2,522,397 $ - $ 2,525,709 $ 39 $ 26,425 $ - $ 26,464 (In thousands) Loans Allowance December 31, 2018 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 220 $ 833,304 $ - $ 833,524 $ 28 $ 11,937 $ - $ 11,965 Construction and development, excluding undeveloped land 318 224,732 - 225,050 - 1,760 - 1,760 Undeveloped land 474 29,618 - 30,092 - 752 - 752 Real estate mortgage 1,641 1,409,806 - 1,411,447 14 10,667 - 10,681 Consumer - 48,058 - 48,058 - 376 - 376 Total $ 2,653 $ 2,545,518 $ - $ 2,548,171 $ 42 $ 25,492 $ - $ 25,534 |
Financing Receivable, Nonaccrual [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Commercial and industrial $ 193 $ 192 Construction and development, excluding undeveloped land — 318 Undeveloped land — 474 Real estate mortgage Commercial investment 317 138 Owner occupied commercial 1,466 586 1-4 family residential 843 760 Home equity - first lien — — Home equity - junior lien 454 143 Subtotal: Real estate mortgage 3,080 1,627 Consumer — — Total loans $ 3,273 $ 2,611 |
Impaired Financing Receivables [Table Text Block] | As of Three months ended March 31, 2019 March 31, 2019 Unpaid Average Interest Recorded principal Related recorded income (In thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 193 $ 710 $ - $ 192 $ - Construction and development, excluding undeveloped land - - - 159 - Undeveloped land - - - 237 - Real estate mortgage Commercial investment 317 317 - 227 - Owner occupied commercial 1,466 1,904 - 1,026 - 1-4 family residential 843 843 - 801 - Home equity - first lien - - - - - Home equity - junior lien 454 454 - 299 - Subtotal: Real estate mortgage 3,080 3,518 - 2,353 - Consumer - - - - - Subtotal $ 3,273 $ 4,228 $ - $ 2,941 $ - Impaired loans with an allowance: Commercial and industrial $ 25 $ 25 $ 25 $ 27 $ 1 Construction and development, excluding undeveloped land - - - - - Undeveloped land - - - - - Real estate mortgage Commercial investment - - - - - Owner occupied commercial - - - - - 1-4 family residential 14 14 14 14 - Home equity - first lien - - - - - Home equity - junior lien - - - - - Subtotal: Real estate mortgage 14 14 14 14 - Consumer - - - - - Subtotal $ 39 $ 39 $ 39 $ 41 $ 1 Total: Commercial and industrial $ 218 $ 735 $ 25 $ 219 $ 1 Construction and development, excluding undeveloped land - - - 159 - Undeveloped land - - - 237 - Real estate mortgage Commercial investment 317 317 - 227 - Owner occupied commercial 1,466 1,904 - 1,026 - 1-4 family residential 857 857 14 815 - Home equity - first lien - - - - - Home equity - junior lien 454 454 - 299 - Subtotal: Real estate mortgage 3,094 3,532 14 2,367 - Consumer - - - - - Total impaired loans $ 3,312 $ 4,267 $ 39 $ 2,982 $ 1 As of Three months ended December 31, 2018 March 31, 2018 Unpaid Average Interest Recorded principal Related recorded income (In thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 192 $ 707 $ - $ 161 $ - Construction and development, excluding undeveloped land 318 489 - 437 - Undeveloped land 474 506 - 474 - Real estate mortgage Commercial investment 138 138 - 35 - Owner occupied commercial 586 1,023 - 1,503 - 1-4 family residential 760 760 - 1,242 - Home equity - first lien - - - - - Home equity - junior lien 143 143 - 73 - Subtotal: Real estate mortgage 1,627 2,064 - 2,853 - Consumer - - - 23 - Subtotal $ 2,611 $ 3,766 $ - $ 3,948 $ - Impaired loans with an allowance: Commercial and industrial $ 28 $ 28 $ 28 $ 1,851 $ - Construction and development, excluding undeveloped land - - - - - Undeveloped land - - - 24 - Real estate mortgage Commercial investment - - - - - Owner occupied commercial - - - 897 - 1-4 family residential 14 14 14 14 - Home equity - first lien - - - - - Home equity - junior lien - - - - - Subtotal: Real estate mortgage 14 14 14 911 - Consumer - - - - - Subtotal $ 42 $ 42 $ 42 $ 2,786 $ - Total: Commercial and industrial $ 220 $ 735 $ 28 $ 2,012 $ - Construction and development, excluding undeveloped land 318 489 - 437 - Undeveloped land 474 506 - 498 - Real estate mortgage - - - - - Commercial investment 138 138 - 35 - Owner occupied commercial 586 1,023 - 2,400 - 1-4 family residential 774 774 14 1,256 - Home equity - first lien - - - - - Home equity - junior lien 143 143 - 73 - Subtotal: Real estate mortgage 1,641 2,078 14 3,764 - Consumer - - - 23 - Total impaired loans $ 2,653 $ 3,808 $ 42 $ 6,734 $ - |
Financing Receivable, Past Due [Table Text Block] | Recorded (In thousands) 90 or more investment days past due > 90 days 30-59 days 60-89 days (includes all Total Total and March 31, 2019 Current past due past due non-accrual) past due loans accruing Commercial and industrial $ 827,165 $ 366 $ 23 $ 193 $ 582 $ 827,747 $ - Construction and development, excluding undeveloped land 216,115 - - - - 216,115 - Undeveloped land 28,433 - - - - 28,433 - Real estate mortgage: Commercial investment 585,673 232 56 687 975 586,648 370 Owner occupied commercial 426,347 350 - 1,466 1,816 428,163 - 1-4 family residential 276,143 594 252 858 1,704 277,847 15 Home equity - first lien 48,498 49 40 69 158 48,656 69 Home equity - junior lien 66,188 171 24 454 649 66,837 - Subtotal: Real estate mortgage 1,402,849 1,396 372 3,534 5,302 1,408,151 454 Consumer 45,239 24 - - 24 45,263 - Total $ 2,519,801 $ 1,786 $ 395 $ 3,727 $ 5,908 $ 2,525,709 $ 454 December 31, 2018 Commercial and industrial $ 832,923 $ 197 $ 200 $ 204 $ 601 $ 833,524 $ 12 Construction and development, excluding undeveloped land 224,732 - - 318 318 225,050 - Undeveloped land 29,552 66 - 474 540 30,092 - Real estate mortgage: Commercial investment 586,884 1,382 107 237 1,726 588,610 99 Owner occupied commercial 421,143 2,732 1,377 1,121 5,230 426,373 535 1-4 family residential 274,547 374 336 760 1,470 276,017 - Home equity - first lien 49,321 179 - - 179 49,500 - Home equity - junior lien 70,467 182 56 242 480 70,947 99 Subtotal: Real estate mortgage 1,402,362 4,849 1,876 2,360 9,085 1,411,447 733 Consumer 48,058 - - - - 48,058 - Total $ 2,537,627 $ 5,112 $ 2,076 $ 3,356 $ 10,544 $ 2,548,171 $ 745 |
Note 5 - Goodwill and Intangi_2
Note 5 - Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | Three months ended March 31, (In thousands) 2019 2018 Balance at beginning of period $ 1,022 $ 875 Additions for mortgage loans sold 80 21 Amortization (32 ) (35 ) Balance at end of period $ 1,070 $ 861 |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three months ended March 31, (In thousands) 2019 2018 Current income tax expense: Federal $ 2,726 $ 2,436 State 141 128 Total current income tax expense 2,867 2,564 Deferred income tax expense (benefit) : Federal 565 467 State (1,613 ) 21 Total deferred income tax expense (1,048 ) 488 Change in valuation allowance 20 - Total income tax expense $ 1,839 $ 3,052 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three months ended March 31, 2019 2018 U.S. federal statutory income tax rate 21.0 % 21.0 % Kentucky state income tax enactment (7.3 ) - Excess tax benefits from share-based compensation arrangements (1.7 ) (1.9 ) Increase in cash surrender value of life insurance (1.2 ) (0.4 ) Tax credits (0.7 ) (0.4 ) Tax exempt interest income (0.3 ) (0.5 ) State income taxes, net of federal benefit 0.7 0.7 Other, net - - Effective income tax rate 10.5 % 18.5 % |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Non-interest bearing demand deposits $ 698,783 $ 711,023 Interest bearing deposits: Interest bearing demand 847,240 892,867 Savings 160,988 155,007 Money market 689,085 688,744 Time deposits of $250 or more 54,479 55,182 Other time deposits (1) 301,965 291,533 Total time deposits 356,444 346,715 Total interest bearing deposits 2,053,757 2,083,333 Total deposits $ 2,752,540 $ 2,794,356 |
Time Deposit Maturities [Table Text Block] | (In thousands) Amount 3 months or less $ 8,750 Over 3 months through 6 months 6,320 Over 6 months through 12 months 9,862 Over 1 year through 3 years 28,054 Over 3 years 1,493 Total time deposits of $250 or more $ 54,479 |
Note 8 - Securities Sold Unde_2
Note 8 - Securities Sold Under Agreements to Repurchase (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | (Dollars in thousands) March 31, 2019 December 31, 2018 Outstanding balance at end of period $ 34,633 $ 36,094 Weighted average interest rate at end of period 0.30 % 0.24 % Three months ended March 31, (Dollars in thousands) 2019 2018 Average outstanding balance during the period $ 37,528 $ 71,276 Average interest rate during the period 0.27 % 0.19 % Maximum outstanding at any month end during the period $ 38,445 $ 74,725 |
Note 9 - Federal Home Loan Ba_2
Note 9 - Federal Home Loan Bank Advances (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Year Advance Weighted average Fixed Rate Advance Weighted average Fixed Rate 2019 $ 30,000 2.61 % $ 30,000 2.54 % 2020 1,678 2.23 1,691 2.23 2021 196 2.12 215 2.12 2024 2,186 2.36 2,240 2.36 2025 4,494 2.42 4,626 2.42 2026 8,089 1.99 8,185 1.99 2028 1,210 1.49 1,220 1.49 Total $ 47,853 2.43 % $ 48,177 2.39 % |
Note 10 - Other Comprehensive_2
Note 10 - Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net unrealized Net unrealized Minimum gains (losses) gains (losses) pension on securities on cash liability (In thousands) available for sale flow hedges adjustment Total Balance, January 1, 2018 $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Net current period other comprehensive income (loss) (3,718 ) 310 - (3,408 ) Reclassification adjustment for adoption of ASU 2018-02 (496 ) 41 (51 ) (506 ) Balance, March 31, 2018 $ (5,995 ) $ 544 $ (393 ) $ (5,844 ) Balance, January 1, 2019 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) Net current period other comprehensive income (loss) 2,794 (174 ) 9 2,629 Balance, March 31, 2019 $ (2,536 ) $ 234 $ (211 ) $ (2,513 ) |
Note 12 - Net Income Per Share
Note 12 - Net Income Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended (In thousands, except per share data) March 31, 2019 2018 Net income $ 15,641 $ 13,404 Weighted average shares outstanding - basic 22,661 22,577 Dilutive securities 285 354 Weighted average shares outstanding- diluted 22,946 22,931 Net income per share, basic $ 0.69 $ 0.59 Net income per share, diluted $ 0.68 $ 0.58 |
Note 14 - Stock-based Compens_2
Note 14 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block] | 2019 2018 Dividend yield 2.52 % 2.56 % Expected volatility 20.40 % 20.17 % Risk free interest rate 2.55 % 2.96 % Expected life of SARs (in years) 7.2 7.0 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended March 31, 2019 (In thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 84 $ 293 $ 81 $ 405 $ 863 Deferred tax benefit (18 ) (61 ) (17 ) (85 ) (181 ) Total net expense $ 66 $ 232 $ 64 $ 320 $ 682 Three months ended March 31, 2018 (In thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 73 $ 276 $ 63 $ 411 $ 823 Deferred tax benefit (15 ) (58 ) (13 ) (87 ) (173 ) Total net expense $ 58 $ 218 $ 50 $ 324 $ 650 |
Share-based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | (In thousands) Stock Year ended Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Remainder of 2019 $ 253 $ 900 $ 248 $ 1,215 $ 2,616 2020 293 1,053 2 947 2,295 2021 235 833 - 466 1,534 2022 181 561 - - 742 2023 105 310 - - 415 2024 7 25 - - 32 Total estimated expense $ 1,074 $ 3,682 $ 250 $ 2,628 $ 7,634 |
Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block] | Weighted Weighted Weighted average average Aggregate average remaining Exercise exercise intrinsic fair contractual (In thousands, except per share data) SARs price price value(1) value life (in years) Outstanding, January 1, 2018 704 $14.02 - $40.00 $ 19.51 $ 12,923 $ 3.47 5.1 Granted 100 35.90 - 39.32 37.75 - 6.07 Exercised (73 ) 14.02 - 19.37 15.32 1,654 3.43 Forfeited - - - - - Outstanding, December 31, 2018 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.82 5.2 Outstanding, January 1, 2019 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.82 Granted 40 36.65 - 36.65 36.65 - 6.61 Exercised (26 ) 14.02 - 19.37 14.71 529 3.55 Forfeited - - - - - Outstanding, March 31, 2019 745 $14.02 - $40.00 $ 23.45 $ 8,639 $ 3.98 5.4 Vested and exercisable 535 $14.02 - $40.00 $ 19.01 $ 8,169 $ 3.35 4.1 Unvested 210 19.44 - 40.00 34.78 470 5.60 8.6 Outstanding, March 31, 2019 745 $14.02 - $40.00 $ 23.45 $ 8,639 $ 3.98 5.4 Vested at March 31, 2019 69 $19.37 - $40.00 $ 26.77 $ 574 $ 4.44 |
Schedule of Nonvested Share Activity [Table Text Block] | (In thousands, except per share data) RSAs Grant date weighted average cost Unvested at January 1, 2018 119 $ 27.62 Shares awarded 40 35.89 Restrictions lapsed and shares released (44 ) 23.62 Shares forfeited (5 ) 31.35 Unvested at December 31, 2018 110 $ 32.09 Unvested at January 1, 2019 110 $ 32.09 Shares awarded 39 34.88 Restrictions lapsed and shares released (39 ) 28.66 Shares forfeited - - Unvested at March 31, 2019 110 $ 34.31 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Vesting Expected Grant period Fair shares to year in years value be awarded 2017 3 $ 35.66 61,893 2018 3 31.54 50,352 2019 3 32.03 43,602 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Off Balance Sheet Commitments to Extend Credit [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Commercial and Industrial $ 354,903 $ 309,920 Construction - Commercial 201,465 163,314 Construction - Residential 14,785 16,050 Home Equity 149,584 147,907 Credit Cards 19,912 20,003 Overdrafts 21,558 21,751 Letters of credit 20,374 20,891 Other 33,748 33,369 Future loan commitments 213,087 101,399 Total off balance sheet commitments to extend credit $ 1,029,416 $ 834,604 |
Note 16 - Assets and Liabilit_2
Note 16 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (In thousands) Fair value at March 31, 2019 Assets Total Level 1 Level 2 Level 3 Securities available for sale Government sponsored enterprise obligations $ 342,866 $ - $ 342,866 $ - Mortgage backed securities - government agencies 137,131 - 137,131 - Obligations of states and political subdivisions 27,134 - 27,134 - Total Securities available for sale 507,131 - 507,131 - Interest rate swaps 524 - 524 - Total assets $ 507,655 $ - $ 507,655 $ - Liabilities Interest rate swaps $ 240 $ - $ 240 $ - (In thousands) Fair value at December 31, 2018 Assets Total Level 1 Level 2 Level 3 Securities available for sale Government sponsored enterprise obligations 261,039 - 261,039 - Mortgage backed securities - government agencies 146,277 - 146,277 - Obligations of states and political subdivisions 29,679 - 29,679 - Total Securities available for sale 436,995 - 436,995 - Interest rate swaps 1,035 - 1,035 - Total assets $ 438,030 $ - $ 438,030 $ - Liabilities Interest rate swaps $ 543 $ - $ 543 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | (In thousands) Fair value at March 31, 2019 Losses recorded: Three months ended Total Level 1 Level 2 Level 3 March 31, 2019 Impaired loans $ 369 $ - $ - $ 369 $ (3 ) Other real estate owned 239 - - 239 - Total $ 608 $ - $ - $ 608 $ (3 ) (In thousands) Fair value at December 31, 2018 Losses recorded: Three months ended Total Level 1 Level 2 Level 3 March 31, 2018 Impaired loans $ 925 $ - $ - $ 925 $ (1,711 ) Other real estate owned 239 - - 239 - Total $ 1,164 $ - $ - $ 1,164 $ (1,711 ) |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Range Fair Valuation Unobservable (weighted (Dollars in thousands) value technique inputs average) Impaired loans - collateral dependent $ 369 Appraisal Appraisal discounts 9.8 % Other real estate owned 239 Appraisal Appraisal discounts 22.0 |
Note 17 - Disclosure of Finan_2
Note 17 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) Carrying March 31, 2019 amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 111,340 $ 111,340 $ 111,340 $ - $ - Mortgage loans held for sale 2,981 3,089 - 3,089 - Federal Home Loan Bank stock 9,779 9,779 9,779 Loans, net 2,499,245 2,486,416 - - 2,486,416 Accrued interest receivable 8,710 8,710 8,710 - - Liabilities Non-interest bearing deposits 698,783 698,783 698,783 - - Transaction deposits 1,697,313 1,697,313 - 1,697,313 - Time deposits 356,444 355,947 - 355,947 - Securities sold under agreement to repurchase 34,633 34,633 - 34,633 - Federal funds purchased 12,218 12,218 - 12,218 - FHLB advances 47,853 47,295 - 47,295 - Accrued interest payable 709 709 709 - - (In thousands) Carrying December 31, 2018 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 198,939 $ 198,939 $ 198,939 $ - $ - Mortgage loans held for sale 1,675 1,743 - 1,743 - Federal Home Loan Bank stock 10,370 10,370 10,370 Loans, net 2,522,637 2,508,587 - - 2,508,587 Accrued interest receivable 8,360 8,360 8,360 - - Financial liabilities Non-interest bearing deposits 711,023 711,023 711,023 - - Transaction deposits 1,736,618 - - 1,736,618 - Time deposits 346,715 - - 345,273 - Securities sold under agreement to repurchase 36,094 36,094 - 36,094 - Federal funds purchased 10,247 10,247 - 10,247 - FHLB advances 48,177 47,227 - 47,227 - Accrued interest payable 762 762 762 - - |
Note 18 - Derivative Financia_2
Note 18 - Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | (Dollars in thousands) Fair value Notional Maturity Receive (variable) Pay fixed assets (liabilities) amount date index swap rate March 31, 2019 December 31, 2018 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ 106 $ 193 20,000 12/6/2020 US 3 Month LIBOR 1.79 % 201 323 $ 30,000 1.82 % $ 307 $ 516 |
Not Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | (Dollars in thousands) Receiving Paying March 31, December 31, March 31, December 31, 2019 2018 2019 2018 Notional amount $ 54,286 $ 55,505 $ 54,286 $ 55,505 Weighted average maturity (years) 7.7 8.0 7.7 8.0 Fair value $ 217 $ 519 $ 240 $ 543 |
Note 19 - Regulatory Matters (T
Note 19 - Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized March 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 405,845 14.04 % $ 231,221 8.00 % NA NA Bank 396,707 13.74 230,901 8.00 $ 288,626 10.00 % Common equity tier 1 risk-based capital Consolidated 379,031 13.11 130,062 4.50 NA NA Bank 369,893 12.82 129,882 4.50 187,607 6.50 Tier 1 risk-based capital (1) Consolidated 379,031 13.11 173,416 6.00 NA NA Bank 369,893 12.82 173,176 6.00 230,901 8.00 Leverage (2) Consolidated 379,031 11.57 130,989 4.00 NA NA Bank 369,893 11.31 130,837 4.00 163,546 5.00 (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 396,019 13.91 % $ 227,714 8.00 % NA NA Bank 385,637 13.56 227,462 8.00 $ 284,327 10.00 % Common equity tier 1 risk-based capital Consolidated 370,135 13.00 128,089 4.50 NA NA Bank 359,753 12.65 127,947 4.50 184,813 6.50 Tier 1 risk-based capital (1) Consolidated 370,135 13.00 170,785 6.00 NA NA Bank 359,753 12.65 170,596 6.00 227,462 8.00 Leverage (2) Consolidated 370,135 11.33 130,698 4.00 NA NA Bank 359,753 11.02 130,569 4.00 163,211 5.00 |
Note 20 - Segments (Tables)
Note 20 - Segments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Wealth Commercial management (In thousands) banking and trust Total Three months ended March 31, 2019 Net interest income $ 29,581 $ 76 $ 29,657 Provision 600 - 600 Wealth management and trust services - 5,439 5,439 All other non-interest income 5,623 - 5,623 Non-interest expenses 19,606 3,033 22,639 Income before income tax expense 14,998 2,482 17,480 Income tax expense 1,300 539 1,839 Net income $ 13,698 $ 1,943 $ 15,641 Segment assets $ 3,279,248 $ 1,768 $ 3,281,016 Three months ended March 31, 2018 Net interest income $ 27,238 $ 71 $ 27,309 Provision 735 - 735 Wealth management and trust services - 5,500 5,500 All other non-interest income 5,409 - 5,409 Non-interest expenses 17,829 3,198 21,027 Income before income tax expense 14,083 2,373 16,456 Income tax expense 2,537 515 3,052 Net income $ 11,546 $ 1,858 $ 13,404 Segment assets $ 3,283,539 $ 1,941 $ 3,285,480 |
Note 21 - Revenue From Contra_2
Note 21 - Revenue From Contracts With Customers (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended March 31, 2019 (Dollars in thousands) Commercial WM&T Consolidated Wealth management and trust services $ - $ 5,439 $ 5,439 Deposit service charges 1,247 1,247 Debit and credit card income 1,744 1,744 Treasury management fees 1,157 1,157 Mortgage banking income (1) 482 482 Net investment product sales commissions and fees 356 356 Bank owned life insurance (1) 178 178 Other (2) 459 459 Total non-interest income $ 5,623 $ 5,439 $ 11,062 Three months ended March 31, 2018 (Dollars in thousands) Commercial WM&T Consolidated Wealth management and trust services $ - $ 5,500 $ 5,500 Deposit service charges 1,411 1,411 Debit and credit card income 1,508 1,508 Treasury management fees 1,047 1,047 Mortgage banking income (1) 576 576 Net investment product sales commissions and fees 404 404 Bank owned life insurance (1) 187 187 Other (2) 276 276 Total non-interest income $ 5,409 $ 5,500 $ 10,909 |
Note 22 - Leases (Tables)
Note 22 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Detail Regarding Operating Leases of Lessee [Table Text Block] | (In thousands) As of and for the three months ended Balance Sheet March 31, 2019 Operating lease right-of-use assets $ 16,392 included in other assets Operating lease liabilities 17,713 included in other liabilities Weighted average remaining lease term (years) 12.28 Weighted average discount rate 3.61 % Maturities of lease liabilities: Year 1 $ 1,953 Year 2 1,940 Year 3 1,918 Year 4 1,942 Year 5 1,974 Thereafter 12,323 Total lease payments $ 22,050 Less imputed interest 4,337 Total $ 17,713 (In thousands) Three months ended Income Statement March 31, 2019 Components of lease expense Operating lease cost $ 508 Variable lease cost 39 Less sublease income 14 Total lease cost $ 533 (In thousands) Three months ended Cash flow Statement March 31, 2019 Supplemental cash flow information: Operating cash flows from operating leases $ 354 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 31, 2018USD ($) | |
Number of Operating Segments | 2 | |||
Assets, Total | $ 3,281,016 | $ 3,302,924 | $ 3,285,480 | |
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | 2,000 | |||
Operating Lease, Right-of-Use Asset | 16,392 | $ 17,000 | ||
Operating Lease, Liability, Total | 17,713 | $ 18,000 | ||
WM&T [Member] | ||||
Assets, Total | $ 3,000,000 |
Note 2 - Pending Acquisition (D
Note 2 - Pending Acquisition (Details Textual) - King Bancorp Inc. [Member] $ in Millions | Dec. 19, 2018USD ($) |
Payments to Acquire Businesses, Gross | $ 28 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 193 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 167 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 125 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Common Equity Assumed | $ 16 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019USD ($) | Mar. 31, 2018 | Dec. 31, 2018USD ($) | |
Number of Securities Sold | 0 | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 105 | 117 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | $ 0 | ||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount | 0 | ||
Collateral Pledged [Member] | |||
Debt Securities, Available-for-sale, Restricted | $ 355,600 | $ 355,100 |
Note 3 - Securities - Available
Note 3 - Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Securities available-for-sale, amortized cost | $ 510,453 | $ 443,742 |
Securities available-for-sale, unrealized gains | 806 | 545 |
Securities available-for-sale, unrealized losses | (4,128) | (7,292) |
Securities available-for-sale, fair value | 507,131 | 436,995 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 344,590 | 264,234 |
Securities available-for-sale, unrealized gains | 139 | 156 |
Securities available-for-sale, unrealized losses | (1,863) | (3,351) |
Securities available-for-sale, fair value | 342,866 | 261,039 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, amortized cost | 138,768 | 149,748 |
Securities available-for-sale, unrealized gains | 570 | 282 |
Securities available-for-sale, unrealized losses | (2,207) | (3,753) |
Securities available-for-sale, fair value | 137,131 | 146,277 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 27,095 | 29,760 |
Securities available-for-sale, unrealized gains | 97 | 107 |
Securities available-for-sale, unrealized losses | (58) | (188) |
Securities available-for-sale, fair value | $ 27,134 | $ 29,679 |
Note 3 - Securities - Availab_2
Note 3 - Securities - Available-for-sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Due within 1 year, amortized cost | $ 205,633 | |
Due within 1 year, fair value | 205,367 | |
Due after 1 but within 5 years, amortized cost | 60,622 | |
Due after 1 but within 5 years, fair value | 60,113 | |
Due after 5 but within 10 years, amortized cost | 7,171 | |
Due after 5 but within 10 years, fair value | 7,091 | |
Due after 10 years, amortized cost | 98,259 | |
Due after 10 years, fair value | 97,429 | |
Mortgage-backed securities – government agencies, amortized cost | 138,768 | |
Mortgage-backed securities – government agencies, fair value | 137,131 | |
Total securities available-for-sale, amortized cost | 510,453 | $ 443,742 |
Total securities available-for-sale, fair value | $ 507,131 | $ 436,995 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Securities available-for-sale, less than 12 months, fair value | $ 183,279 | $ 100,662 |
Securities available-for-sale, less than 12 months, unrealized losses | (151) | (44) |
Securities available-for-sale, 12 months or more, fair value | 258,555 | 287,807 |
Securities available-for-sale, 12 months or more, unrealized losses | (3,977) | (7,248) |
Securities available-for-sale, fair value | 441,834 | 388,469 |
Securities available-for-sale, unrealized losses | (4,128) | (7,292) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 183,279 | 96,740 |
Securities available-for-sale, less than 12 months, unrealized losses | (151) | (38) |
Securities available-for-sale, 12 months or more, fair value | 133,375 | 149,320 |
Securities available-for-sale, 12 months or more, unrealized losses | (1,712) | (3,313) |
Securities available-for-sale, fair value | 316,654 | 246,060 |
Securities available-for-sale, unrealized losses | (1,863) | (3,351) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 3,108 | |
Securities available-for-sale, less than 12 months, unrealized losses | (5) | |
Securities available-for-sale, 12 months or more, fair value | 109,690 | 120,848 |
Securities available-for-sale, 12 months or more, unrealized losses | (2,207) | (3,748) |
Securities available-for-sale, fair value | 109,690 | 123,956 |
Securities available-for-sale, unrealized losses | (2,207) | (3,753) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 814 | |
Securities available-for-sale, less than 12 months, unrealized losses | (1) | |
Securities available-for-sale, 12 months or more, fair value | 15,490 | 17,639 |
Securities available-for-sale, 12 months or more, unrealized losses | (58) | (187) |
Securities available-for-sale, fair value | 15,490 | 18,453 |
Securities available-for-sale, unrealized losses | $ (58) | $ (188) |
Note 4 - Loans and Leases (Deta
Note 4 - Loans and Leases (Details Textual) xbrli-pure in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | |
Loans and Leases Receivable, Related Parties, Ending Balance | $ 52,800 | $ 52,700 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 454 | $ 0 | 745 |
Financing Receivable, Troubled Debt Restructuring | $ 39 | 42 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | 0 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 795 | $ 528 |
Note 4 - Loans and Leases - Loa
Note 4 - Loans and Leases - Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Loans | $ 2,525,709 | $ 2,548,171 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 827,747 | 833,524 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | [1] | 216,115 | 225,050 |
Undevelopment Land Portfolio Segment [Member] | |||
Loans | 28,433 | 30,092 | |
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,408,151 | 1,411,447 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 586,648 | 588,610 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 428,163 | 426,373 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 277,847 | 276,017 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 48,656 | 49,500 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 66,837 | 70,947 | |
Consumer Portfolio Segment [Member] | |||
Loans | $ 45,263 | $ 48,058 | |
[1] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 4 - Loans and Leases - Int
Note 4 - Loans and Leases - Internally Assigned Risk Grades of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Loans | $ 2,525,709 | $ 2,548,171 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 827,747 | 833,524 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | [1] | 216,115 | 225,050 |
Undevelopment Land Portfolio Segment [Member] | |||
Loans | 28,433 | 30,092 | |
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,408,151 | 1,411,447 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 586,648 | 588,610 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 428,163 | 426,373 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 277,847 | 276,017 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 48,656 | 49,500 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 66,837 | 70,947 | |
Consumer Portfolio Segment [Member] | |||
Loans | 45,263 | 48,058 | |
Pass [Member] | |||
Loans | 2,460,657 | 2,493,020 | |
Pass [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 791,469 | 803,073 | |
Pass [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 216,115 | 220,532 | |
Pass [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | 28,433 | 29,618 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,379,377 | 1,391,739 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 580,591 | 586,543 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 408,777 | 411,722 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 275,293 | 273,537 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 48,587 | 49,500 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 66,129 | 70,437 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 45,263 | 48,058 | |
Special Mention [Member] | |||
Loans | 34,983 | 28,354 | |
Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 18,453 | 11,516 | |
Special Mention [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 4,200 | ||
Special Mention [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | |||
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 16,530 | 12,638 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 1,145 | 1,815 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 13,628 | 9,030 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 1,522 | 1,544 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | |||
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 235 | 249 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | |||
Loans | |||
Substandard [Member] | Performing Financial Instruments [Member] | |||
Loans | 26,303 | 23,399 | |
Substandard [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 3,766 | 3,398 | |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 17,607 | 18,703 | |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 218 | 232 | |
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | |||
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 318 | ||
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | |||
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 474 | ||
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 8,696 | 4,696 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Commercial Investment [Member] | |||
Loans | 4,224 | 15 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Loans | 4,292 | 4,500 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | One to Four Family Residential [Member] | |||
Loans | 161 | 162 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity First Lien [Member] | |||
Loans | |||
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity Junior Lien [Member] | |||
Loans | 19 | 19 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 3,548 | 2,374 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial Investment [Member] | |||
Loans | 688 | 237 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Loans | 1,466 | 1,121 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | One to Four Family Residential [Member] | |||
Loans | 871 | 774 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity First Lien [Member] | |||
Loans | 69 | ||
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Junior Lien [Member] | |||
Loans | 454 | 242 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | |||
Substandard [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | |||
Doubtful [Member] | |||
Loans | |||
Doubtful [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | |||
Doubtful [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | |||
Doubtful [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | |||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | |||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | |||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | |||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | |||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | |||
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | |||
Doubtful [Member] | Consumer Portfolio Segment [Member] | |||
Loans | |||
[1] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 4 - Loans and Leases - All
Note 4 - Loans and Leases - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Evaluation Method (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | ||
Balance | $ 25,534 | $ 24,885 | |||
Provision for loan and lease losses | 600 | 735 | |||
Charge-offs | (99) | (1,528) | |||
Recoveries | 429 | 111 | |||
Balance | 26,464 | 24,203 | |||
Loans individually evaluated for impairment | $ 3,312 | $ 2,653 | |||
Loans collectively evaluated for impairment | 2,522,397 | 2,545,518 | |||
Loans | 2,525,709 | 2,548,171 | |||
Allowance for loans individually evaluated for impairment | 39 | 42 | |||
Allowance for loans collectively evaluated for impairment | 26,425 | 25,492 | |||
Allowance for loan losses | 26,464 | 24,885 | 26,464 | 25,534 | |
Financial Asset Acquired with Credit Deterioration [Member] | |||||
Balance | |||||
Balance | |||||
Loans | |||||
Allowance for loan losses | |||||
Commercial and Industrial Portfolio Segment [Member] | |||||
Balance | 11,965 | 11,276 | |||
Provision for loan and lease losses | (302) | 761 | |||
Charge-offs | (3) | (1,409) | |||
Recoveries | 102 | 10 | |||
Balance | 11,762 | 10,638 | |||
Loans individually evaluated for impairment | 218 | 220 | |||
Loans collectively evaluated for impairment | 827,529 | 833,304 | |||
Loans | 827,747 | 833,524 | |||
Allowance for loans individually evaluated for impairment | 25 | 28 | |||
Allowance for loans collectively evaluated for impairment | 11,737 | 11,937 | |||
Allowance for loan losses | 11,965 | 11,276 | 11,762 | 11,965 | |
Commercial and Industrial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||
Balance | |||||
Balance | |||||
Loans | |||||
Allowance for loan losses | |||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||||
Balance | 1,760 | 1,724 | |||
Provision for loan and lease losses | (79) | 296 | |||
Charge-offs | |||||
Recoveries | 203 | ||||
Balance | 1,884 | 2,020 | |||
Loans individually evaluated for impairment | 318 | ||||
Loans collectively evaluated for impairment | 216,115 | 224,732 | |||
Loans | [1] | 216,115 | 225,050 | ||
Allowance for loans individually evaluated for impairment | |||||
Allowance for loans collectively evaluated for impairment | 1,884 | 1,760 | |||
Allowance for loan losses | 1,760 | 1,724 | 1,884 | 1,760 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||
Balance | |||||
Balance | |||||
Loans | |||||
Allowance for loan losses | |||||
Undevelopment Land Portfolio Segment [Member] | |||||
Balance | 752 | 521 | |||
Provision for loan and lease losses | (90) | (39) | |||
Charge-offs | |||||
Recoveries | |||||
Balance | 662 | 482 | |||
Loans individually evaluated for impairment | 474 | ||||
Loans collectively evaluated for impairment | 28,433 | 29,618 | |||
Loans | 28,433 | 30,092 | |||
Allowance for loans individually evaluated for impairment | |||||
Allowance for loans collectively evaluated for impairment | 662 | 752 | |||
Allowance for loan losses | 752 | 521 | 662 | 752 | |
Undevelopment Land Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||
Balance | |||||
Balance | |||||
Loans | |||||
Allowance for loan losses | |||||
Real Estate Mortgage Portfolio Segment [Member] | |||||
Balance | 10,681 | 11,012 | |||
Provision for loan and lease losses | 1,300 | (309) | |||
Charge-offs | |||||
Recoveries | 20 | 4 | |||
Balance | 12,001 | 10,707 | |||
Loans individually evaluated for impairment | 3,094 | 1,641 | |||
Loans collectively evaluated for impairment | 1,405,057 | 1,409,806 | |||
Loans | 1,408,151 | 1,411,447 | |||
Allowance for loans individually evaluated for impairment | 14 | 14 | |||
Allowance for loans collectively evaluated for impairment | 11,987 | 10,667 | |||
Allowance for loan losses | 10,681 | 11,012 | 12,001 | 10,681 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||
Balance | |||||
Balance | |||||
Loans | |||||
Allowance for loan losses | |||||
Consumer Portfolio Segment [Member] | |||||
Balance | 376 | 352 | |||
Provision for loan and lease losses | (229) | 26 | |||
Charge-offs | (96) | (119) | |||
Recoveries | 104 | 97 | |||
Balance | 155 | 356 | |||
Loans individually evaluated for impairment | |||||
Loans collectively evaluated for impairment | 45,263 | 48,058 | |||
Loans | 45,263 | 48,058 | |||
Allowance for loans individually evaluated for impairment | |||||
Allowance for loans collectively evaluated for impairment | 155 | 376 | |||
Allowance for loan losses | 376 | $ 352 | 155 | 376 | |
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||
Balance | |||||
Balance | |||||
Loans | |||||
Allowance for loan losses | |||||
[1] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 4 - Loans and Leases - Non
Note 4 - Loans and Leases - Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Non-accrual loans | $ 3,273 | $ 2,611 |
Commercial and Industrial Portfolio Segment [Member] | ||
Non-accrual loans | 193 | 192 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Non-accrual loans | 318 | |
Undevelopment Land Portfolio Segment [Member] | ||
Non-accrual loans | 474 | |
Real Estate Mortgage Portfolio Segment [Member] | ||
Non-accrual loans | 3,080 | 1,627 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Non-accrual loans | 317 | 138 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Non-accrual loans | 1,466 | 586 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Non-accrual loans | 843 | 760 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Non-accrual loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Non-accrual loans | 454 | 143 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans |
Note 4 - Loans and Leases - L_2
Note 4 - Loans and Leases - Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Loans with no related allowance recorded, recorded investment | $ 3,273 | $ 2,611 | |
Loans with no related allowance recorded, unpaid principal balance | 4,228 | 3,766 | |
Loans with no related allowance recorded, average recorded investment | 2,941 | $ 3,948 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | 39 | 42 | |
Loans with an allowance recorded, unpaid principal balance | 39 | 42 | |
Related allowance | 39 | 42 | |
Loans with an allowance recorded, average recorded investment | 41 | 2,786 | |
Loans with an allowance recorded, interest income recognized | 1 | ||
Recorded investment | 3,312 | 2,653 | |
Unpaid principal balance | 4,267 | 3,808 | |
Average recorded investment | 2,982 | 6,734 | |
Interest income recognized | 1 | ||
Commercial and Industrial Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 193 | 192 | |
Loans with no related allowance recorded, unpaid principal balance | 710 | 707 | |
Loans with no related allowance recorded, average recorded investment | 192 | 161 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | 25 | 28 | |
Loans with an allowance recorded, unpaid principal balance | 25 | 28 | |
Related allowance | 25 | 28 | |
Loans with an allowance recorded, average recorded investment | 27 | 1,851 | |
Loans with an allowance recorded, interest income recognized | 1 | ||
Recorded investment | 218 | 220 | |
Unpaid principal balance | 735 | 735 | |
Average recorded investment | 219 | 2,012 | |
Interest income recognized | 1 | ||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 318 | ||
Loans with no related allowance recorded, unpaid principal balance | 489 | ||
Loans with no related allowance recorded, average recorded investment | 159 | 437 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | |||
Loans with an allowance recorded, unpaid principal balance | |||
Related allowance | |||
Loans with an allowance recorded, average recorded investment | |||
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | 318 | ||
Unpaid principal balance | 489 | ||
Average recorded investment | 159 | 437 | |
Interest income recognized | |||
Undevelopment Land Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 474 | ||
Loans with no related allowance recorded, unpaid principal balance | 506 | ||
Loans with no related allowance recorded, average recorded investment | 237 | 474 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | |||
Loans with an allowance recorded, unpaid principal balance | |||
Related allowance | |||
Loans with an allowance recorded, average recorded investment | 24 | ||
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | 474 | ||
Unpaid principal balance | 506 | ||
Average recorded investment | 237 | 498 | |
Interest income recognized | |||
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 3,080 | 1,627 | |
Loans with no related allowance recorded, unpaid principal balance | 3,518 | 2,064 | |
Loans with no related allowance recorded, average recorded investment | 2,353 | 2,853 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | 14 | 14 | |
Loans with an allowance recorded, unpaid principal balance | 14 | 14 | |
Related allowance | 14 | 14 | |
Loans with an allowance recorded, average recorded investment | 14 | 911 | |
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | 3,094 | 1,641 | |
Unpaid principal balance | 3,532 | 2,078 | |
Average recorded investment | 2,367 | 3,764 | |
Interest income recognized | |||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans with no related allowance recorded, recorded investment | 317 | 138 | |
Loans with no related allowance recorded, unpaid principal balance | 317 | 138 | |
Loans with no related allowance recorded, average recorded investment | 227 | 35 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | |||
Loans with an allowance recorded, unpaid principal balance | |||
Related allowance | |||
Loans with an allowance recorded, average recorded investment | |||
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | 317 | 138 | |
Unpaid principal balance | 317 | 138 | |
Average recorded investment | 227 | 35 | |
Interest income recognized | |||
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans with no related allowance recorded, recorded investment | 1,466 | 586 | |
Loans with no related allowance recorded, unpaid principal balance | 1,904 | 1,023 | |
Loans with no related allowance recorded, average recorded investment | 1,026 | 1,503 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | |||
Loans with an allowance recorded, unpaid principal balance | |||
Related allowance | |||
Loans with an allowance recorded, average recorded investment | 897 | ||
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | 1,466 | 586 | |
Unpaid principal balance | 1,904 | 1,023 | |
Average recorded investment | 1,026 | 2,400 | |
Interest income recognized | |||
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans with no related allowance recorded, recorded investment | 843 | 760 | |
Loans with no related allowance recorded, unpaid principal balance | 843 | 760 | |
Loans with no related allowance recorded, average recorded investment | 801 | 1,242 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | 14 | 14 | |
Loans with an allowance recorded, unpaid principal balance | 14 | 14 | |
Related allowance | 14 | 14 | |
Loans with an allowance recorded, average recorded investment | 14 | 14 | |
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | 857 | 774 | |
Unpaid principal balance | 857 | 774 | |
Average recorded investment | 815 | 1,256 | |
Interest income recognized | |||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans with no related allowance recorded, recorded investment | |||
Loans with no related allowance recorded, unpaid principal balance | |||
Loans with no related allowance recorded, average recorded investment | |||
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | |||
Loans with an allowance recorded, unpaid principal balance | |||
Related allowance | |||
Loans with an allowance recorded, average recorded investment | |||
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | |||
Unpaid principal balance | |||
Average recorded investment | |||
Interest income recognized | |||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans with no related allowance recorded, recorded investment | 454 | 143 | |
Loans with no related allowance recorded, unpaid principal balance | 454 | 143 | |
Loans with no related allowance recorded, average recorded investment | 299 | 73 | |
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | |||
Loans with an allowance recorded, unpaid principal balance | |||
Related allowance | |||
Loans with an allowance recorded, average recorded investment | |||
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | 454 | 143 | |
Unpaid principal balance | 454 | 143 | |
Average recorded investment | 299 | 73 | |
Interest income recognized | |||
Consumer Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | |||
Loans with no related allowance recorded, unpaid principal balance | |||
Loans with no related allowance recorded, average recorded investment | 23 | ||
Loans with no related allowance recorded, interest income recognized | |||
Loans with an allowance recorded, recorded investment | |||
Loans with an allowance recorded, unpaid principal balance | |||
Related allowance | |||
Loans with an allowance recorded, average recorded investment | |||
Loans with an allowance recorded, interest income recognized | |||
Recorded investment | |||
Unpaid principal balance | |||
Average recorded investment | 23 | ||
Interest income recognized |
Note 4 - Loans and Leases - Agi
Note 4 - Loans and Leases - Aging of the Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Current | $ 2,519,801 | $ 2,537,627 | ||
Past due | 5,908 | 10,544 | ||
Loans | 2,525,709 | 2,548,171 | ||
Recorded investment greater than 90 days and accruing | 454 | 745 | $ 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Past due | 1,786 | 5,112 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Past due | 395 | 2,076 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Past due | 3,727 | 3,356 | ||
Commercial and Industrial Portfolio Segment [Member] | ||||
Current | 827,165 | 832,923 | ||
Past due | 582 | 601 | ||
Loans | 827,747 | 833,524 | ||
Recorded investment greater than 90 days and accruing | 12 | |||
Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Past due | 366 | 197 | ||
Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Past due | 23 | 200 | ||
Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Past due | 193 | 204 | ||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||||
Current | 216,115 | 224,732 | ||
Past due | 318 | |||
Loans | [1] | 216,115 | 225,050 | |
Recorded investment greater than 90 days and accruing | ||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Past due | ||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Past due | ||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Past due | 318 | |||
Undevelopment Land Portfolio Segment [Member] | ||||
Current | 28,433 | 29,552 | ||
Past due | 540 | |||
Loans | 28,433 | 30,092 | ||
Recorded investment greater than 90 days and accruing | ||||
Undevelopment Land Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Past due | 66 | |||
Undevelopment Land Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Past due | ||||
Undevelopment Land Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Past due | 474 | |||
Real Estate Mortgage Portfolio Segment [Member] | ||||
Current | 1,402,849 | 1,402,362 | ||
Past due | 5,302 | 9,085 | ||
Loans | 1,408,151 | 1,411,447 | ||
Recorded investment greater than 90 days and accruing | 454 | 733 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||||
Current | 585,673 | 586,884 | ||
Past due | 975 | 1,726 | ||
Loans | 586,648 | 588,610 | ||
Recorded investment greater than 90 days and accruing | 370 | 99 | ||
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||||
Current | 426,347 | 421,143 | ||
Past due | 1,816 | 5,230 | ||
Loans | 428,163 | 426,373 | ||
Recorded investment greater than 90 days and accruing | 535 | |||
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||||
Current | 276,143 | 274,547 | ||
Past due | 1,704 | 1,470 | ||
Loans | 277,847 | 276,017 | ||
Recorded investment greater than 90 days and accruing | 15 | |||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||||
Current | 48,498 | 49,321 | ||
Past due | 158 | 179 | ||
Loans | 48,656 | 49,500 | ||
Recorded investment greater than 90 days and accruing | 69 | |||
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||||
Current | 66,188 | 70,467 | ||
Past due | 649 | 480 | ||
Loans | 66,837 | 70,947 | ||
Recorded investment greater than 90 days and accruing | 99 | |||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Past due | 1,396 | 4,849 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Investment [Member] | ||||
Past due | 232 | 1,382 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||||
Past due | 350 | 2,732 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family Residential [Member] | ||||
Past due | 594 | 374 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity First Lien [Member] | ||||
Past due | 49 | 179 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Junior Lien [Member] | ||||
Past due | 171 | 182 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Past due | 372 | 1,876 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Investment [Member] | ||||
Past due | 56 | 107 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||||
Past due | 1,377 | |||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family Residential [Member] | ||||
Past due | 252 | 336 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity First Lien [Member] | ||||
Past due | 40 | |||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Junior Lien [Member] | ||||
Past due | 24 | 56 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Past due | 3,534 | 2,360 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Investment [Member] | ||||
Past due | 687 | 237 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||||
Past due | 1,466 | 1,121 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family Residential [Member] | ||||
Past due | 858 | 760 | ||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity First Lien [Member] | ||||
Past due | 69 | |||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity Junior Lien [Member] | ||||
Past due | 454 | 242 | ||
Consumer Portfolio Segment [Member] | ||||
Current | 45,239 | 48,058 | ||
Past due | 24 | |||
Loans | 45,263 | 48,058 | ||
Recorded investment greater than 90 days and accruing | ||||
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Past due | 24 | |||
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Past due | ||||
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Past due | ||||
[1] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 5 - Goodwill and Intangi_3
Note 5 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2013 | |
Goodwill, Impairment Loss | $ 0 | ||
Finite-lived Intangible Assets, Fair Value Disclosure | 3,200 | $ 3,600 | |
Loans Serviced for Others Outstanding Principal Balance | 324,900 | 327,900 | |
Core Deposits [Member] | |||
Finite-Lived Intangible Assets, Net, Ending Balance | 1,000 | $ 1,100 | |
Indiana Bank [Member] | Commercial Banking [Member] | |||
Goodwill, Ending Balance | $ 682 | ||
THE BANCorp [Member] | Core Deposits [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,500 |
Note 5 - Goodwill and Intangi_4
Note 5 - Goodwill and Intangible Assets - Mortgage Servicing Rights (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Balance at beginning of period | $ 1,022 | $ 875 |
Additions for mortgage loans sold | 80 | 21 |
Amortization | (32) | (35) |
Balance at end of period | $ 1,070 | $ 861 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2019 | Jan. 01, 2021 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ (1.3) | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment to Per Diluted Share | $ 0.06 | ||
Open Tax Year | 2014 2015 2016 2017 2018 2019 | ||
Forecast [Member] | |||
Unrecognized Deferred Tax Asset that Would Impact Income Tax Expense (Benefit) | $ 0.2 | ||
State and Local Jurisdiction [Member] | Kentucky Department of Revenue [Member] | |||
Franchise Tax as Percent of Net Capital | 1.10% | ||
Average Franchise Tax Over Two Year-end Periods | $ 2.5 | ||
State Corporate Income Tax as Percent of Earnings Before Income Tax Expense | 5.00% |
Note 6 - Income Taxes - Compone
Note 6 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Current income tax expense: | ||
Federal | $ 2,726 | $ 2,436 |
State | 141 | 128 |
Total current income tax expense | 2,867 | 2,564 |
Deferred income tax expense (benefit) : | ||
Federal | 565 | 467 |
State | (1,613) | 21 |
Total deferred income tax expense | (1,048) | 488 |
Change in valuation allowance | 20 | |
Total income tax expense | $ 1,839 | $ 3,052 |
Note 6 - Income Taxes - Differe
Note 6 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
U.S. federal statutory income tax rate | 21.00% | 21.00% |
Kentucky state income tax enactment | (7.30%) | |
Excess tax benefits from share-based compensation arrangements | (1.70%) | (1.90%) |
Increase in cash surrender value of life insurance | (1.20%) | (0.40%) |
Tax credits | (0.70%) | (0.40%) |
Tax exempt interest income | (0.30%) | (0.50%) |
State income taxes, net of federal benefit | 0.70% | 0.70% |
Other, net | ||
Effective income tax rate | 10.50% | 18.50% |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Interest-bearing Domestic Deposit, Brokered | $ 29.8 | $ 29.8 |
Note 7 - Deposits - Composition
Note 7 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Non-interest bearing demand deposits | $ 698,783 | $ 711,023 | |
Interest bearing demand | 847,240 | 892,867 | |
Savings | 160,988 | 155,007 | |
Money market | 689,085 | 688,744 | |
Time deposits of $250 or more | 54,479 | 55,182 | |
Other time deposits (1) | [1] | 301,965 | 291,533 |
Total time deposits | 356,444 | 346,715 | |
Total interest bearing deposits | 2,053,757 | 2,083,333 | |
Total deposits | $ 2,752,540 | $ 2,794,356 | |
[1] | Includes $29.8 million in brokered deposits as of both March 31, 2019 and December 31, 2018. |
Note 7 - Deposits - Maturities
Note 7 - Deposits - Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
3 months or less | $ 8,750 | |
Over 3 months through 6 months | 6,320 | |
Over 6 months through 12 months | 9,862 | |
Over 1 year through 3 years | 28,054 | |
Over 3 years | 1,493 | |
Total time deposits of $250 or more | $ 54,479 | $ 55,182 |
Note 8 - Securities Sold Unde_3
Note 8 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Outstanding balance at end of period | $ 34,633 | $ 36,094 | |
Weighted average interest rate at end of period | 0.30% | 0.24% | |
Average outstanding balance during the period | $ 37,528,000 | $ 71,276,000 | |
Average interest rate during the period | 0.27% | 0.19% | |
Maximum outstanding at any month end during the period | $ 38,445,000 | $ 74,725,000 |
Note 9 - Federal Home Loan Ba_3
Note 9 - Federal Home Loan Bank Advances (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Advances from Federal Home Loan Banks, Total | $ 47,853 | $ 48,177 |
Federal Home Loan Bank, Number of Separate Advances | 14 | 14 |
Federal Home Loan Bank, Number of Separate Advances Principal Due at Maturity | 2 | |
Advances From Federal Home Loan Banks, Principal Due at Maturity | $ 30,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 523,700 | $ 537,000 |
Correspondent Banks [Member] | ||
Federal Funds Corresponding Banks Maximum Amount Available | $ 105,000 | $ 105,000 |
Note 9 - Federal Home Loan Ba_4
Note 9 - Federal Home Loan Bank Advances - Contractual Maturities and Average Effective Rates of Outstanding Advances (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Advances from Federal Home Loan Banks, Total | $ 47,853 | $ 48,177 |
Advance | 47,853 | 48,177 |
Federal Home Loan Bank Advances Outstanding [Member] | ||
Advance, 2019 | $ 30,000 | |
Fixed rate, 2019 | 2.61% | |
Advance, 2019 | $ 1,678 | $ 30,000 |
Fixed rate, 2019 | 2.23% | 2.54% |
Advance, 2020 | $ 1,678 | $ 30,000 |
Fixed rate, 2020 | 2.23% | 2.54% |
Advance, 2020 | $ 196 | $ 1,691 |
Fixed rate, 2020 | 2.12% | 2.23% |
Advance, 2021 | $ 196 | $ 1,691 |
Fixed rate, 2021 | 2.12% | 2.23% |
Advance, 2021 | $ 215 | |
Fixed rate, 2021 | 2.12% | |
Advance, 2024 | $ 2,186 | |
Fixed rate, 2024 | 2.36% | |
Advance, 2024 | $ 4,494 | $ 2,240 |
Fixed rate, 2024 | 2.42% | 2.36% |
Advance, 2025 | $ 4,494 | $ 2,240 |
Fixed rate, 2025 | 2.42% | 2.36% |
Advance, 2025 | $ 8,089 | $ 4,626 |
Fixed rate, 2025 | 1.99% | 2.42% |
Advance, 2026 | $ 8,089 | $ 4,626 |
Fixed rate, 2026 | 1.99% | 2.42% |
Advance, 2026 | $ 8,185 | |
Fixed rate, 2026 | 1.99% | |
Advance, 2028 | $ 1,210 | |
Fixed rate, 2028 | 1.49% | |
Advance, 2028 | $ 1,220 | |
Fixed rate, 2028 | 1.49% | |
Advances from Federal Home Loan Banks, Total | $ 47,853 | $ 48,177 |
Fixed rate | 2.43% | 2.39% |
Advance | $ 47,853 | $ 48,177 |
Fixed rate | 2.43% | 2.39% |
Note 10 - Other Comprehensive_3
Note 10 - Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Balance, January 1, 2018 | $ 366,500 | $ 333,644 |
Net current period other comprehensive income gain (loss) | 2,629 | (3,408) |
Reclassification adjustment for adoption of ASU 2018-02 | ||
Balance, March 31, 2018 | 377,994 | 337,702 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||
Balance, January 1, 2018 | (5,330) | (1,781) |
Net current period other comprehensive income gain (loss) | 2,794 | (3,718) |
Reclassification adjustment for adoption of ASU 2018-02 | (496) | |
Balance, March 31, 2018 | (2,536) | (5,995) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance, January 1, 2018 | 408 | 193 |
Net current period other comprehensive income gain (loss) | (174) | 310 |
Reclassification adjustment for adoption of ASU 2018-02 | 41 | |
Balance, March 31, 2018 | 234 | 544 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance, January 1, 2018 | (220) | (342) |
Net current period other comprehensive income gain (loss) | 9 | |
Reclassification adjustment for adoption of ASU 2018-02 | (51) | |
Balance, March 31, 2018 | (211) | (393) |
AOCI Attributable to Parent [Member] | ||
Balance, January 1, 2018 | (5,142) | (1,930) |
Net current period other comprehensive income gain (loss) | 2,629 | (3,408) |
Reclassification adjustment for adoption of ASU 2018-02 | (506) | |
Balance, March 31, 2018 | $ (2,513) | $ (5,844) |
Note 11 - Preferred Stock (Deta
Note 11 - Preferred Stock (Details Textual) - $ / shares $ / shares in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued, Total | 0 | 0 |
Note 12 - Net Income Per Shar_2
Note 12 - Net Income Per Share (Details Textual) - Stock Appreciation Rights (SARs) [Member] shares in Thousands | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 188 |
Minimum [Member] | |
Share Price | $ 33.08 |
Maximum [Member] | |
Share Price | $ 40 |
Note 12 - Net Income Per Shar_3
Note 12 - Net Income Per Share and Common Stock Dividends - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net income | $ 15,641 | $ 13,404 |
Weighted average shares outstanding - basic (in shares) | 22,661 | 22,577 |
Dilutive securities (in shares) | 285 | 354 |
Weighted average shares outstanding- diluted (in shares) | 22,946 | 22,931 |
Net income per share, basic (in dollars per share) | $ 0.69 | $ 0.59 |
Net income per share, diluted (in dollars per share) | $ 0.68 | $ 0.58 |
Note 13 - Defined Benefit Plan
Note 13 - Defined Benefit Plan (Details Textual) | 3 Months Ended |
Mar. 31, 2019 | |
Defined Benefit Plan, Number of Employees Covered | 3 |
Defined Benefit Plan, Number of Present Employees Covered | 1 |
Defined Benefit Plan, Number of Retired Employees Covered | 2 |
Deferred Compensation Arrangement with Individual, Requisite Service Period | 25 years |
Note 14 - Stock-based Compens_3
Note 14 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 500,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 506,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | ||
Proceeds (Used for) and Received from Settlement of Stock Awards | $ (210) | $ (156) | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 7,634 | |||
Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,074 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 40,000 | 100,000 | ||
Stock Appreciation Rights (SARs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3,682 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 39,000 | 40,000 | ||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Sharebased Compensation Arrangement by Share-based Payment Award Post Vesting Holding Period | 1 year | |||
Share-based Compensation Arrangement by Share-based Payment Award Liquidity Discount | 4.10% | 4.30% | 5.10% | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 2,628 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 250 | |||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,834 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ 330 |
Note 14 - Stock-based Compens_4
Note 14 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) [Member] | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Dividend yield | 2.52% | 2.56% |
Expected volatility | 20.40% | 20.17% |
Risk free interest rate | 2.55% | 2.96% |
Expected life of SARs (Year) | 7 years 73 days | 7 years |
Note 14 - Stock-based Compens_5
Note 14 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Expense | $ 863 | $ 823 |
Deferred tax benefit | (181) | (173) |
Total net expense | 682 | 650 |
Stock Appreciation Rights (SARs) [Member] | ||
Expense | 84 | 73 |
Deferred tax benefit | (18) | (15) |
Total net expense | 66 | 58 |
Restricted Stock [Member] | ||
Expense | 293 | 276 |
Deferred tax benefit | (61) | (58) |
Total net expense | 232 | 218 |
Restricted Stock Units (RSUs) [Member] | ||
Expense | 81 | 63 |
Deferred tax benefit | (17) | (13) |
Total net expense | 64 | 50 |
Performance Shares [Member] | ||
Expense | 405 | 411 |
Deferred tax benefit | (85) | (87) |
Total net expense | $ 320 | $ 324 |
Note 14 - Stock-based Compens_6
Note 14 - Stock-based Compensation - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Remainder of 2019 | $ 2,616 |
2020 | 2,295 |
2021 | 1,534 |
2022 | 742 |
2023 | 415 |
2024 | 32 |
Total estimated expense | 7,634 |
Stock Appreciation Rights (SARs) [Member] | |
Remainder of 2019 | 253 |
2020 | 293 |
2021 | 235 |
2022 | 181 |
2023 | 105 |
2024 | 7 |
Total estimated expense | 1,074 |
Restricted Stock [Member] | |
Remainder of 2019 | 900 |
2020 | 1,053 |
2021 | 833 |
2022 | 561 |
2023 | 310 |
2024 | 25 |
Total estimated expense | 3,682 |
Restricted Stock Units (RSUs) [Member] | |
Remainder of 2019 | 248 |
2020 | 2 |
2021 | |
2022 | |
2023 | |
2024 | |
Total estimated expense | 250 |
Performance Shares [Member] | |
Remainder of 2019 | 1,215 |
2020 | 947 |
2021 | 466 |
2022 | |
2023 | |
2024 | |
Total estimated expense | $ 2,628 |
Note 14 - Stock-based Compens_7
Note 14 - Stock-based Compensation - SARs Activity (Details) - Stock Appreciation Rights (SARs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unvested (in shares) | 731 | 704 | |
Outstanding, aggregate intrinsic value | $ 8,639 | $ 8,422 | $ 12,923 |
Outstanding, weighted average fair value (in dollars per share) | $ 3.98 | $ 3.82 | $ 3.47 |
Outstanding, weighted average remaining contractual life (Year) | 5 years 146 days | 5 years 73 days | 5 years 36 days |
Awarded (in shares) | 40 | 100 | |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 6.61 | $ 6.07 | |
Exercised (in shares) | (26) | (73) | |
Exercised, aggregate intrinsic value | $ 529 | $ 1,654 | |
Exercised, weighted average fair value (in dollars per share) | $ 3.55 | $ 3.43 | |
Forfeited (in shares) | |||
Unvested (in shares) | 745 | 731 | 704 |
Vested and exercisable (in shares) | 535 | ||
Vested and exercisable, aggregate intrinsic value | $ 8,169 | ||
Vested and exercisable, weighted average fair value (in dollars per share) | $ 3.35 | ||
Vested and exercisable, weighted average remaining contractual life (Year) | 4 years 36 days | ||
Unvested (in shares) | 210 | ||
Unvested, aggregate intrinsic value | $ 470 | ||
Unvested, weighted average fair value (in dollars per share) | $ 5.60 | ||
Unvested, weighted average remaining contractual life (Year) | 8 years 219 days | ||
Vested (in shares) | 69 | ||
Vested, aggregate intrinsic value | $ 574 | ||
Vested, weighted average fair value (in dollars per share) | $ 4.44 | ||
Minimum [Member] | |||
Outstanding, exercise price (in dollars per share) | 14.02 | $ 14.02 | |
Granted, exercise price (in dollars per share) | 36.65 | 35.90 | |
Exercised, exercise price (in dollars per share) | 14.02 | 14.02 | |
Outstanding, exercise price (in dollars per share) | 14.02 | 14.02 | $ 14.02 |
Vested and exercisable, exercise price (in dollars per share) | 14.02 | ||
Unvested, exercise price (in dollars per share) | 19.44 | ||
Vested, exercise price (in dollars per share) | 19.37 | ||
Maximum [Member] | |||
Outstanding, exercise price (in dollars per share) | 40 | 40 | |
Granted, exercise price (in dollars per share) | 36.65 | 39.32 | |
Exercised, exercise price (in dollars per share) | 19.37 | 19.37 | |
Outstanding, exercise price (in dollars per share) | 40 | 40 | 40 |
Vested and exercisable, exercise price (in dollars per share) | 40 | ||
Unvested, exercise price (in dollars per share) | 40 | ||
Vested, exercise price (in dollars per share) | 40 | ||
Weighted Average [Member] | |||
Outstanding, exercise price (in dollars per share) | 22.42 | 19.51 | |
Granted, exercise price (in dollars per share) | 36.65 | 37.75 | |
Exercised, exercise price (in dollars per share) | 14.71 | 15.32 | |
Outstanding, exercise price (in dollars per share) | 23.45 | $ 22.42 | $ 19.51 |
Vested and exercisable, exercise price (in dollars per share) | 19.01 | ||
Unvested, exercise price (in dollars per share) | 34.78 | ||
Vested, exercise price (in dollars per share) | $ 26.77 |
Note 14 - Stock-based Compens_8
Note 14 - Stock-based Compensation - Restricted Stock (Details) - Restricted Stock [Member] - $ / shares shares in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Unvested (in shares) | 110 | 119 |
Unvested, grant date weighted average cost (in dollars per share) | $ 32.09 | $ 27.62 |
Awarded (in shares) | 39 | 40 |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 34.88 | $ 35.89 |
Restrictions lapsed and shares released (in shares) | (39) | (44) |
Restrictions lapsed and shares released, grant date weighted average cost (in dollars per share) | $ 28.66 | $ 23.62 |
Forfeited (in shares) | (5) | |
Shares forfeited, grant date weighted average cost (in dollars per share) | $ 31.35 | |
Unvested (in shares) | 110 | 110 |
Unvested, grant date weighted average cost (in dollars per share) | $ 34.31 | $ 32.09 |
Note 14 - Stock-based Compens_9
Note 14 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expected shares to be awarded (in shares) | 506,000 | ||
Performance Shares [Member] | |||
Vesting period (Year) | 3 years | ||
Performance Shares [Member] | Executive Officer [Member] | |||
Vesting period (Year) | 3 years | 3 years | 3 years |
Shares awarded, grant date weighted average cost (in dollars per share) | $ 32.03 | $ 31.54 | $ 35.66 |
Expected shares to be awarded (in shares) | 43,602 | 50,352 | 61,893 |
Note 15 - Commitments and Con_3
Note 15 - Commitments and Contingent Liabilities (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Loss Contingency Accrual, Ending Balance | $ 350 |
Standby Letters of Credit [Member] | Minimum [Member] | |
Guarantee Obligations, Agreement Term | 30 days |
Standby Letters of Credit [Member] | Maximum [Member] | |
Guarantee Obligations, Agreement Term | 2 years |
Note 15 - Commitments and Con_4
Note 15 - Commitments and Contingent Liabilities - Off Balance Sheet Commitments to Extend Credit (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Off balance sheet commitments to extend credit | $ 1,029,416 | $ 834,604 |
Commercial and Industrial Loans [Member] | ||
Off balance sheet commitments to extend credit | 354,903 | 309,920 |
Commerical Construcition Loans [Member] | ||
Off balance sheet commitments to extend credit | 201,465 | 163,314 |
Residential Construction Loans [Member] | ||
Off balance sheet commitments to extend credit | 14,785 | 16,050 |
Home Equity Loans [Member] | ||
Off balance sheet commitments to extend credit | 149,584 | 147,907 |
Credit Cards [Member] | ||
Off balance sheet commitments to extend credit | 19,912 | 20,003 |
Overdrafts [Member] | ||
Off balance sheet commitments to extend credit | 21,558 | 21,751 |
Letters of Credit [Member] | ||
Off balance sheet commitments to extend credit | 20,374 | 20,891 |
Other Off Balance Sheet Commitments [Member] | ||
Off balance sheet commitments to extend credit | 33,748 | 33,369 |
Future Loan Commitments [Member] | ||
Off balance sheet commitments to extend credit | $ 213,087 | $ 101,399 |
Note 16 - Assets and Liabilit_3
Note 16 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Impaired Financing Receivable, Related Allowance | $ 39 | $ 42 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 39 | 42 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | 878 | 1,000 |
Impaired Loans [Member] | Appraisal Discount Method [Member] | ||
Assets, Fair Value Disclosure | 369 | 925 |
Impaired Financing Receivable, Related Allowance | 39 | 42 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 408 | 967 |
Mortgage Servicing Rights [Member] | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 |
Fair Value, Recurring [Member] | ||
Assets, Fair Value Disclosure | 507,655 | 438,030 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 16 - Assets and Liabilit_4
Note 16 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Securities available for sale | $ 507,131 | $ 436,995 |
Fair Value, Recurring [Member] | ||
Securities available for sale | 507,131 | 436,995 |
Interest rate swaps | 524 | 1,035 |
Total assets | 507,655 | 438,030 |
Interest rate swaps | 240 | 543 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Interest rate swaps | ||
Total assets | ||
Interest rate swaps | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 507,131 | 436,995 |
Interest rate swaps | 524 | 1,035 |
Total assets | 507,655 | 438,030 |
Interest rate swaps | 240 | 543 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Interest rate swaps | ||
Total assets | 0 | 0 |
Interest rate swaps | ||
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available for sale | 342,866 | 261,039 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 342,866 | 261,039 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 342,866 | 261,039 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | 137,131 | 146,277 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 137,131 | 146,277 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 137,131 | 146,277 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 27,134 | 29,679 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 27,134 | 29,679 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 27,134 | 29,679 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale |
Note 16 - Assets and Liabilit_5
Note 16 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Other real estate owned | $ 22 | $ 109 | |
Fair Value, Nonrecurring [Member] | |||
Impaired loans | 369 | $ 925 | |
Impaired loans | (3) | (1,711) | |
Other real estate owned | 239 | 239 | |
Other real estate owned | |||
Assets, Fair Value Disclosure | 608 | 1,164 | |
Total | (3) | $ (1,711) | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Impaired loans | |||
Other real estate owned | |||
Assets, Fair Value Disclosure | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Impaired loans | |||
Other real estate owned | |||
Assets, Fair Value Disclosure | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Impaired loans | 369 | 925 | |
Other real estate owned | 239 | 239 | |
Assets, Fair Value Disclosure | $ 608 | $ 1,164 |
Note 16 - Assets and Liabilit_6
Note 16 - Assets and Liabilities Measured and Reported at Fair Value - Significant Unobservable Inputs (Details) - Impaired Loans [Member] - Fair Value, Inputs, Level 3 [Member] - Appraisal Discount Method [Member] $ in Thousands | Mar. 31, 2019USD ($) |
Impaired loans - collateral dependent, fair value | $ 369 |
Other real estate owned | $ 239 |
Weighted Average [Member] | |
Impaired loans - collateral dependent, weighted average of input | 9.8 |
Other real estate owned - collateral dependent, weighted average of input | 22 |
Note 17 - Disclosure of Finan_3
Note 17 - Disclosure of Financial Instruments Not Reported at Fair Value - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 111,340 | $ 198,939 |
Accrued interest receivable | 8,710 | 8,360 |
Non-interest bearing deposits | 698,783 | 711,023 |
Time deposits | 356,444 | 346,715 |
Accrued interest payable | 709 | 762 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 111,340 | 198,939 |
Mortgage loans held for sale | 2,981 | 1,675 |
Federal Home Loan Bank stock | 9,779 | 10,370 |
Loans, net | 2,499,245 | 2,522,637 |
Accrued interest receivable | 8,710 | 8,360 |
Non-interest bearing deposits | 698,783 | 711,023 |
Transaction deposits | 1,697,313 | 1,736,618 |
Time deposits | 356,444 | 346,715 |
Securities sold under agreement to repurchase | 34,633 | 36,094 |
Federal funds purchased | 12,218 | 10,247 |
FHLB advances | 47,853 | 48,177 |
Accrued interest payable | 709 | 762 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 111,340 | 198,939 |
Mortgage loans held for sale | 3,089 | 1,743 |
Federal Home Loan Bank stock | 9,779 | 10,370 |
Loans, net | 2,486,416 | 2,508,587 |
Accrued interest receivable | 8,710 | 8,360 |
Non-interest bearing deposits | 698,783 | 711,023 |
Transaction deposits | 1,697,313 | |
Time deposits | 355,947 | |
Securities sold under agreement to repurchase | 34,633 | 36,094 |
Federal funds purchased | 12,218 | 10,247 |
FHLB advances | 47,295 | 47,227 |
Accrued interest payable | 709 | 762 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 111,340 | 198,939 |
Mortgage loans held for sale | ||
Federal Home Loan Bank stock | ||
Loans, net | ||
Accrued interest receivable | 8,710 | 8,360 |
Non-interest bearing deposits | 698,783 | 711,023 |
Transaction deposits | ||
Time deposits | ||
Securities sold under agreement to repurchase | ||
Federal funds purchased | ||
FHLB advances | ||
Accrued interest payable | 709 | 762 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Mortgage loans held for sale | 3,089 | 1,743 |
Federal Home Loan Bank stock | 9,779 | 10,370 |
Loans, net | ||
Accrued interest receivable | ||
Non-interest bearing deposits | ||
Transaction deposits | 1,697,313 | 1,736,618 |
Time deposits | 355,947 | 345,273 |
Securities sold under agreement to repurchase | 34,633 | 36,094 |
Federal funds purchased | 12,218 | 10,247 |
FHLB advances | 47,295 | 47,227 |
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Mortgage loans held for sale | ||
Federal Home Loan Bank stock | ||
Loans, net | 2,486,416 | 2,508,587 |
Accrued interest receivable | ||
Non-interest bearing deposits | ||
Transaction deposits | ||
Time deposits | ||
Securities sold under agreement to repurchase | ||
Federal funds purchased | ||
FHLB advances | ||
Accrued interest payable |
Note 18 - Derivative Financia_3
Note 18 - Derivative Financial Instruments (Details Textual) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative, Notional Amount | $ 30,000 | ||
Interest Rate Swap, Maturing December 6, 2021 [Member] | |||
Derivative, Notional Amount | 10,000 | $ 10,000 | |
Interest Rate Swap, Maturing December 6, 2020 [Member] | |||
Derivative, Notional Amount | $ 20,000 | $ 20,000 |
Note 18 - Derivative Financia_4
Note 18 - Derivative Financial Instruments - Outstanding Undesignated Interest Rate Swap Contracts (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Receiving [Member] | ||
Notional amount | $ 54,286 | $ 55,505 |
Weighted average maturity (Year) | 7 years 255 days | 8 years |
Fair value | $ 217 | $ 519 |
Paying [Member] | ||
Notional amount | $ 54,286 | $ 55,505 |
Weighted average maturity (Year) | 7 years 255 days | 8 years |
Fair value | $ 240 | $ 543 |
Note 18 - Derivative Financia_5
Note 18 - Derivative Financial Instruments - Derivative Position Designated As a Cash Flow Hedge (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2015 | |
Notional amount | $ 30,000 | |||
Pay fixed swap rate | 1.82% | |||
Fair value | $ 307 | $ 516 | ||
Interest Rate Swap, Maturing December 6, 2021 [Member] | ||||
Notional amount | $ 10,000 | $ 10,000 | ||
Receive (variable index) | US 3 Month LIBOR | |||
Pay fixed swap rate | 1.89% | |||
Fair value | $ 106 | 193 | ||
Interest Rate Swap, Maturing December 6, 2020 [Member] | ||||
Notional amount | $ 20,000 | $ 20,000 | ||
Receive (variable index) | US 3 Month LIBOR | |||
Pay fixed swap rate | 1.79% | |||
Fair value | $ 201 | $ 323 |
Note 19 - Regulatory Matters (D
Note 19 - Regulatory Matters (Details Textual) | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Jan. 01, 2017 | Jan. 01, 2016 | |
Common Equity Tier One Risk Based Capital, Required to Be Well Capitalized to Risk Weighted Assets | [1] | ||||||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | [1],[2] | ||||||
Capital Required to be Well Capitalized to Risk Weighted Assets | [1],[2] | ||||||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | [1],[3] | ||||||
Capital Conservation Buffer | 2.50% | 1.875% | 1.25% | 0.625% | |||
Subsidiaries [Member] | |||||||
Common Equity Tier One Risk Based Capital, Required to Be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% | |||||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | [2] | 8.00% | 8.00% | ||||
Capital Required to be Well Capitalized to Risk Weighted Assets | [2] | 10.00% | 10.00% | ||||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | [3] | 5.00% | 5.00% | ||||
[1] | Not applicable. Regulatory framework does not define well capitalized for holding companies. | ||||||
[2] | Ratio is computed in relation to risk-weighted assets. | ||||||
[3] | Ratio is computed in relation to average assets. |
Note 19 - Regulatory Matters -
Note 19 - Regulatory Matters - Risk Based Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Total risk-based capital | |||
Total risk-based capital, actual amount | [1] | $ 405,845 | $ 396,019 |
Total risk-based capital, actual ratio | [1] | 14.04% | 13.91% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 231,221 | $ 227,714 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital, minimum for well capitalized amount | [1],[2] | ||
Total risk-based capital, minimum for well capitalized ratio | [1],[2] | ||
Common equity tier 1 risk-based capital | |||
Common Equity Tier 1 risk-based capital, actual amount | $ 379,031 | $ 370,135 | |
Common Equity Tier 1 risk-based capital, actual ratio | 13.11% | 13.00% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 130,062 | $ 128,089 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 4.50% | 4.50% | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | [2] | ||
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | [2] | ||
Tier 1 risk-based capital | |||
Tier 1 risk-based capital, actual amount | [1] | $ 379,031 | $ 370,135 |
Tier 1 risk-based capital, actual ratio | [1] | 13.11% | 13.00% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 173,416 | $ 170,785 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital, minimum for well capitalized amount | [1],[2] | ||
Tier 1 risk-based capital, minimum for well capitalized ratio | [1],[2] | ||
Leverage | |||
Leverage, actual amount | [3] | $ 379,031 | $ 370,135 |
Leverage, actual ratio | [3] | 11.57% | 11.33% |
Leverage, minimum for adequately capitalized amount | [3] | $ 130,989 | $ 130,698 |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 4.00% |
Leverage, minimum for well capitalized amount | [2],[3] | ||
Leverage, minimum for well capitalized ratio | [2],[3] | ||
Subsidiaries [Member] | |||
Total risk-based capital | |||
Total risk-based capital, actual amount | [1] | $ 396,707 | $ 385,637 |
Total risk-based capital, actual ratio | [1] | 13.74% | 13.56% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 230,901 | $ 227,462 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital, minimum for well capitalized amount | [1] | $ 288,626 | $ 284,327 |
Total risk-based capital, minimum for well capitalized ratio | [1] | 10.00% | 10.00% |
Common equity tier 1 risk-based capital | |||
Common Equity Tier 1 risk-based capital, actual amount | $ 369,893 | $ 359,753 | |
Common Equity Tier 1 risk-based capital, actual ratio | 12.82% | 12.65% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 129,882 | $ 127,947 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 4.50% | 4.50% | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | $ 187,607 | $ 184,813 | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | 6.50% | 6.50% | |
Tier 1 risk-based capital | |||
Tier 1 risk-based capital, actual amount | [1] | $ 369,893 | $ 359,753 |
Tier 1 risk-based capital, actual ratio | [1] | 12.82% | 12.65% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 173,176 | $ 170,596 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital, minimum for well capitalized amount | [1] | $ 230,901 | $ 227,462 |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 8.00% | 8.00% |
Leverage | |||
Leverage, actual amount | [3] | $ 369,893 | $ 359,753 |
Leverage, actual ratio | [3] | 11.31% | 11.02% |
Leverage, minimum for adequately capitalized amount | [3] | $ 130,837 | $ 130,569 |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 4.00% |
Leverage, minimum for well capitalized amount | [3] | $ 163,546 | $ 163,211 |
Leverage, minimum for well capitalized ratio | [3] | 5.00% | 5.00% |
[1] | Ratio is computed in relation to risk-weighted assets. | ||
[2] | Not applicable. Regulatory framework does not define well capitalized for holding companies. | ||
[3] | Ratio is computed in relation to average assets. |
Note 20 - Segments (Details Tex
Note 20 - Segments (Details Textual) | Mar. 31, 2019USD ($) |
Commercial Banking [Member] | Operating Segments [Member] | |
Goodwill, Ending Balance | $ 682,000 |
Note 20 - Segments - Financial
Note 20 - Segments - Financial Information by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Net interest income | $ 29,657 | $ 27,309 | |
Provision | 600 | 735 | |
Non-interest income | 5,439 | 5,500 | |
All other non-interest income | 5,623 | 5,409 | |
Non-interest expenses | 22,639 | 21,027 | |
Income before income tax expense | 17,480 | 16,456 | |
Income tax expense | 1,839 | 3,052 | |
Net income | 15,641 | 13,404 | |
Segment assets | 3,281,016 | 3,285,480 | $ 3,302,924 |
Commercial Banking [Member] | |||
Net interest income | 29,581 | 27,238 | |
Provision | 600 | 735 | |
Non-interest income | |||
All other non-interest income | 5,623 | 5,409 | |
Non-interest expenses | 19,606 | 17,829 | |
Income before income tax expense | 14,998 | 14,083 | |
Income tax expense | 1,300 | 2,537 | |
Net income | 13,698 | 11,546 | |
Segment assets | 3,279,248 | 3,283,539 | |
Investment Management and Trust [Member] | |||
Net interest income | 76 | 71 | |
Provision | |||
Non-interest income | 5,439 | 5,500 | |
All other non-interest income | |||
Non-interest expenses | 3,033 | 3,198 | |
Income before income tax expense | 2,482 | 2,373 | |
Income tax expense | 539 | 515 | |
Net income | 1,943 | 1,858 | |
Segment assets | $ 1,768 | $ 1,941 |
Note 21 - Revenue From Contra_3
Note 21 - Revenue From Contracts With Customers (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Noninterest Expense Related to Performance Fees | $ 1 | $ 1 | |
Trading Activity Charges Reducing Product Sales Commissions and Fees | 133 | $ 137 | |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 0 | ||
Contract with Customer, Liability, Total | 0 | ||
Contract with Customer, Liability, Revenue Recognized | 0 | ||
Fiduciary and Trust [Member] | |||
Accrued Fees and Other Revenue Receivable | $ 2,000 | $ 1,900 |
Note 21 - Revenue From Contra_4
Note 21 - Revenue From Contracts With Customers - Revenue by Operating Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Non-interest income | $ 5,439 | $ 5,500 | |
Mortgage banking income | [1] | 482 | 576 |
Bank owned life insurance | [1] | 178 | 187 |
Other | [2] | 459 | 276 |
Non-interest income | 11,062 | 10,909 | |
Commercial Banking [Member] | |||
Non-interest income | |||
Mortgage banking income | [1] | 482 | 576 |
Bank owned life insurance | [1] | 178 | 187 |
Other | [2] | 459 | 276 |
Non-interest income | 5,623 | 5,409 | |
WM&T [Member] | |||
Mortgage banking income | [1] | ||
Bank owned life insurance | [1] | ||
Other | [2] | ||
Non-interest income | 5,439 | 5,500 | |
Fiduciary and Trust [Member] | |||
Non-interest income | 5,439 | 5,500 | |
Fiduciary and Trust [Member] | Commercial Banking [Member] | |||
Non-interest income | |||
Fiduciary and Trust [Member] | WM&T [Member] | |||
Non-interest income | 5,439 | 5,500 | |
Deposit Account [Member] | |||
Non-interest income | 1,247 | 1,411 | |
Deposit Account [Member] | Commercial Banking [Member] | |||
Non-interest income | 1,247 | 1,411 | |
Deposit Account [Member] | WM&T [Member] | |||
Non-interest income | |||
Credit and Debit Card [Member] | |||
Non-interest income | 1,744 | 1,508 | |
Credit and Debit Card [Member] | Commercial Banking [Member] | |||
Non-interest income | 1,744 | 1,508 | |
Credit and Debit Card [Member] | WM&T [Member] | |||
Non-interest income | |||
Treasury Management [Member] | |||
Non-interest income | 1,157 | 1,047 | |
Treasury Management [Member] | Commercial Banking [Member] | |||
Non-interest income | 1,157 | 1,047 | |
Treasury Management [Member] | WM&T [Member] | |||
Non-interest income | |||
Product Sales Commissions and Fees [Member] | |||
Non-interest income | 356 | 404 | |
Product Sales Commissions and Fees [Member] | Commercial Banking [Member] | |||
Non-interest income | 356 | 404 | |
Product Sales Commissions and Fees [Member] | WM&T [Member] | |||
Non-interest income | |||
[1] | Outside of scope of ASC 606 | ||
[2] | Outside of scope of ASC 606 with the exception of safe deposit fee which were nominal. |
Note 22 - Leases (Details Textu
Note 22 - Leases (Details Textual) | 3 Months Ended |
Mar. 31, 2019 | |
Lessee, Operating Lease, Renewal Term | 5 years |
Minimum [Member] | |
Operating Lease, Remaining Lease Term | 90 days |
Maximum [Member] | |
Operating Lease, Remaining Lease Term | 14 years |
Note 22 - Leases - Balance Shee
Note 22 - Leases - Balance Sheet, Income Statement, and Cash Flow Detail Regarding Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Jan. 01, 2019 | |
Operating lease right-of-use assets | $ 16,392 | $ 17,000 | |
Operating lease liabilities | $ 17,713 | 18,000 | |
Weighted average remaining lease term (years) (Year) | 12 years 102 days | ||
Weighted average discount rate | 3.61% | ||
Maturities of lease liabilities: | |||
Year 1 | $ 1,953 | ||
Year 2 | 1,940 | ||
Year 3 | 1,918 | ||
Year 4 | 1,942 | ||
Year 5 | 1,974 | ||
Thereafter | 12,323 | ||
Total lease payments | 22,050 | ||
Less imputed interest | 4,337 | ||
Operating lease liabilities | 17,713 | $ 18,000 | |
Components of lease expense | |||
Operating lease cost | 508 | ||
Variable lease cost | 39 | ||
Less sublease income | 14 | ||
Total lease cost | 533 | ||
Supplemental cash flow information: | |||
Operating cash flows from operating leases | $ 354 |