Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 09, 2016 | Jun. 30, 2015 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | MIDDLEFIELD BANC CORP | ||
Trading Symbol | mbcn | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 1,877,379 | ||
Entity Public Float | $ 67,500,000 | ||
Amendment Flag | false | ||
Entity Central Index Key | 836,147 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from banks | $ 22,421,000 | $ 20,846,000 |
Federal funds sold | 1,329,000 | 4,793,000 |
Cash and cash equivalents | 23,750,000 | 25,639,000 |
Investment securities available for sale, at fair value | 146,520,000 | 154,334,000 |
Loans held for sale | 1,107,000 | 438,000 |
Loans | 533,710,000 | 470,584,000 |
Less allowance for loan and lease losses | 6,385,000 | 6,846,000 |
Net loans | 527,325,000 | 463,738,000 |
Premises and equipment, net | 9,772,000 | 9,980,000 |
Goodwill | 4,559,000 | 4,559,000 |
Core deposit intangibles | 76,000 | 116,000 |
Bank-owned life insurance | 13,141,000 | 9,092,000 |
Other real estate owned | 1,412,000 | 2,590,000 |
Accrued interest and other assets | 7,477,000 | 7,045,000 |
TOTAL ASSETS | 735,139,000 | 677,531,000 |
Deposits: | ||
Noninterest-bearing demand | 116,498,000 | 105,512,000 |
Interest-bearing demand | 57,219,000 | 56,377,000 |
Money market | 78,856,000 | 75,895,000 |
Savings | 180,653,000 | 178,470,000 |
Time | 191,221,000 | 169,858,000 |
Total deposits | 624,447,000 | 586,112,000 |
Short-term borrowings | 35,825,000 | 14,808,000 |
Other borrowings | 9,939,000 | 10,624,000 |
Accrued interest and other liabilities | 2,624,000 | 2,120,000 |
TOTAL LIABILITIES | 672,835,000 | 613,664,000 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value; 10,000,000 shares authorized, 2,263,403 and 2,242,025 shares issued; 1,877,238 and 2,052,495 shares outstanding | 36,191,000 | 35,529,000 |
Retained earnings | 37,236,000 | 32,524,000 |
Accumulated other comprehensive income | 2,395,000 | 2,548,000 |
Treasury stock, at cost; 386,165 and 189,530 shares | (13,518,000) | (6,734,000) |
TOTAL STOCKHOLDERS' EQUITY | 62,304,000 | 63,867,000 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 735,139,000 | $ 677,531,000 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parentheticals) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 2,263,403 | 2,242,025 |
Common stock, no par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, shares outstanding | 1,877,238 | 2,052,495 |
Treasury stock, shares | 386,165 | 189,530 |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
INTEREST INCOME | |||
Interest and fees on loans | $ 23,824,000 | $ 22,726,000 | $ 22,496,000 |
Interest-bearing deposits in other institutions | 33,000 | 24,000 | 30,000 |
Federal funds sold | 13,000 | 14,000 | 15,000 |
Investment securities: | |||
Taxable interest | 1,467,000 | 1,896,000 | 2,514,000 |
Tax-exempt interest | 3,160,000 | 3,127,000 | 3,044,000 |
Dividends on stock | 98,000 | 87,000 | 79,000 |
Total interest income | 28,595,000 | 27,874,000 | 28,178,000 |
INTEREST EXPENSE | |||
Deposits | 3,426,000 | 3,633,000 | 4,709,000 |
Short-term borrowings | 194,000 | 148,000 | 178,000 |
Federal funds purchased | 7,000 | ||
Other borrowings | 83,000 | 118,000 | 166,000 |
Trust preferred securities | 117,000 | 171,000 | 190,000 |
Total interest expense | 3,820,000 | 4,070,000 | 5,250,000 |
NET INTEREST INCOME | 24,775,000 | 23,804,000 | 22,928,000 |
Provision for loan losses | 315,000 | 370,000 | 196,000 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 24,460,000 | 23,434,000 | 22,732,000 |
NONINTEREST INCOME | |||
Service charges on deposit accounts | 1,874,000 | 1,876,000 | 1,956,000 |
Investment securities gains, net | 323,000 | 248,000 | 11,000 |
Earnings on bank-owned life insurance | 624,000 | 276,000 | 280,000 |
Gains on sale of loans | 329,000 | 237,000 | |
Other income | 894,000 | 951,000 | 898,000 |
Total noninterest income | 4,044,000 | 3,588,000 | 3,145,000 |
NONINTEREST EXPENSE | |||
Salaries and employee benefits | 9,751,000 | 8,817,000 | 7,913,000 |
Occupancy expense | 1,253,000 | 1,108,000 | 1,231,000 |
Equipment expense | 944,000 | 963,000 | 950,000 |
Data processing costs | 1,071,000 | 917,000 | 854,000 |
Ohio state franchise tax | 300,000 | 342,000 | 618,000 |
Federal deposit insurance expense | 472,000 | 449,000 | 516,000 |
Professional fees | 1,247,000 | 1,086,000 | 1,174,000 |
(Gain) loss on other real estate owned | (48,000) | 183,000 | 18,000 |
Advertising expenses | 721,000 | 488,000 | 445,000 |
Other real estate expenses | 611,000 | 387,000 | 410,000 |
Directors fees | 451,000 | 403,000 | 403,000 |
Other expense | 3,264,000 | 2,667,000 | 2,298,000 |
Total noninterest expense | 20,077,000 | 17,850,000 | 16,870,000 |
Income before income taxes | 8,427,000 | 9,172,000 | 9,007,000 |
Income taxes | 1,562,000 | 1,992,000 | 1,979,000 |
NET INCOME | $ 6,865,000 | $ 7,180,000 | $ 7,028,000 |
EARNINGS PER SHARE | |||
Basic (in Dollars per share) | $ 3.41 | $ 3.52 | $ 3.48 |
Diluted (in Dollars per share) | 3.39 | 3.50 | 3.47 |
DIVIDENDS DECLARED PER SHARE (in Dollars per share) | $ 1.07 | $ 1.04 | $ 1.04 |
Core Deposits [Member] | |||
NONINTEREST EXPENSE | |||
Core deposit intangible amortization | $ 40,000 | $ 40,000 | $ 40,000 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net income | $ 6,865 | $ 7,180 | $ 7,028 |
Other comprehensive income (loss): | |||
Net unrealized holding gain (loss) on available-for-sale investment securities | 91 | 7,498 | (11,545) |
Tax effect | (31) | (2,549) | 3,925 |
Reclassification adjustment for investment securities gains included in net income | (323) | (248) | (11) |
Tax effect | 110 | 84 | 3 |
Total other comprehensive (loss) income | (153) | 4,785 | (7,628) |
Comprehensive income (loss) | $ 6,712 | $ 11,965 | $ (600) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance, December 31 at Dec. 31, 2012 | $ 34,295 | $ 22,485 | $ 5,391 | $ (6,734) | $ 55,437 |
Balance, December 31 (in Shares) at Dec. 31, 2012 | 2,181,763 | ||||
Net income | 7,028 | 7,028 | |||
Comprehensive income (loss) | (7,628) | (7,628) | |||
Common stock issuance, net of issuance cost ($139) | $ 74 | 74 | |||
Common stock issuance, net of issuance cost ($139) (in Shares) | 13,320 | ||||
Dividend reinvestment and purchase plan, amount | $ 736 | 736 | |||
Dividend reinvestment and purchase plan, shares (in Shares) | 25,751 | ||||
Stock options exercised | $ (126) | 49 | (77) | ||
Stock options exercised (in Shares) | 1,000 | ||||
Cash dividends | (2,097) | (2,097) | |||
Balance, December 31 at Dec. 31, 2013 | $ 34,979 | 27,465 | (2,237) | (6,734) | 53,473 |
Balance, December 31 (in Shares) at Dec. 31, 2013 | 2,221,834 | ||||
Net income | 7,180 | 7,180 | |||
Comprehensive income (loss) | 4,785 | 4,785 | |||
Dividend reinvestment and purchase plan, amount | $ 590 | 590 | |||
Dividend reinvestment and purchase plan, shares (in Shares) | 19,791 | ||||
Stock options exercised | $ (50) | $ (50) | |||
Stock options exercised (in Shares) | 11,223 | ||||
Stock-based compensation | $ 10 | $ 10 | |||
Stock-based compensation (in Shares) | 400 | ||||
Cash dividends | (2,121) | (2,121) | |||
Balance, December 31 at Dec. 31, 2014 | $ 35,529 | 32,524 | 2,548 | (6,734) | $ 63,867 |
Balance, December 31 (in Shares) at Dec. 31, 2014 | 2,242,025 | 2,052,495 | |||
Net income | 6,865 | $ 6,865 | |||
Comprehensive income (loss) | (153) | (153) | |||
Purchase of treasury stock (196,635 shares) | (6,784) | (6,784) | |||
Dividend reinvestment and purchase plan, amount | $ 651 | 651 | |||
Dividend reinvestment and purchase plan, shares (in Shares) | 20,393 | ||||
Stock options exercised | $ (7) | $ (7) | |||
Stock options exercised (in Shares) | 400 | 2,175 | |||
Stock-based compensation | $ 18 | $ 18 | |||
Stock-based compensation (in Shares) | 585 | ||||
Cash dividends | (2,153) | (2,153) | |||
Balance, December 31 at Dec. 31, 2015 | $ 36,191 | $ 37,236 | $ 2,395 | $ (13,518) | $ 62,304 |
Balance, December 31 (in Shares) at Dec. 31, 2015 | 2,263,403 | 1,877,238 |
Consolidated Statement of Chan7
Consolidated Statement of Changes in Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Common stock, issuance cost (in Dollars) | $ 139 | ||
Cash dividends per share | $ 1.07 | $ 1.04 | $ 1.04 |
Common Stock [Member] | |||
Cash dividends per share | $ 1.07 | $ 1.04 | $ 1.04 |
Treasury Stock [Member] | |||
Purchase of treasury stock (in Shares) | (196,635) |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | |||
Net income | $ 6,865,000 | $ 7,180,000 | $ 7,028,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 315,000 | 370,000 | 196,000 |
Investment securities gains, net | (323,000) | (248,000) | (11,000) |
Depreciation and amortization | 1,013,000 | 1,049,000 | 891,000 |
Amortization of premium and discount on investment securities | 669,000 | 737,000 | 1,100,000 |
Accretion of deferred loan fees, net | (603,000) | (237,000) | (245,000) |
Origination of loans held for sale | (17,889,000) | (6,223,000) | |
Proceeds from sale of loans held for sale | 17,549,000 | 6,022,000 | |
Gains on sale of loans | (329,000) | (237,000) | |
Earnings on bank-owned life insurance | (624,000) | (276,000) | (280,000) |
Deferred income taxes | 558,000 | (154,000) | 423,000 |
Stock-based compensation expense | 18,000 | 10,000 | |
(Gain) loss on other real estate owned | (48,000) | 183,000 | 18,000 |
Other real estate owned writedowns | 102,000 | 123,000 | 101,000 |
(Increase) decrease in accrued interest receivable | (292,000) | 40,000 | 28,000 |
Increase (decrease) in accrued interest payable | 80,000 | (49,000) | (128,000) |
Decrease in prepaid federal deposit insurance | 513,000 | ||
Other, net | 121,000 | (831,000) | 263,000 |
Net cash provided by operating activities | 7,182,000 | 7,459,000 | 9,897,000 |
Investment securities available for sale: | |||
Proceeds from repayments and maturities | 13,497,000 | 13,474,000 | 25,411,000 |
Proceeds from sale of securities | 15,686,000 | 8,383,000 | 25,088,000 |
Purchases | (21,946,000) | (12,287,000) | (25,815,000) |
Increase in loans, net | (63,937,000) | (36,222,000) | (29,829,000) |
Proceeds from the sale of other real estate owned | 1,762,000 | 832,000 | 882,000 |
Purchase of bank-owned life insurance | (4,000,000) | ||
Purchase of premises and equipment | (507,000) | (902,000) | (1,834,000) |
Net cash used for investing activities | (59,445,000) | (26,722,000) | (6,097,000) |
FINANCING ACTIVITIES | |||
Net increase (decrease) in deposits | 38,335,000 | 17,276,000 | (24,499,000) |
Increase in short-term borrowings, net | 21,017,000 | 3,999,000 | 4,271,000 |
Repayment of other borrowings | (685,000) | (985,000) | (1,361,000) |
Common stock issued | 74,000 | ||
Stock options exercised | (7,000) | (50,000) | (77,000) |
Proceeds from dividend reinvestment and purchase plan | 651,000 | 590,000 | 736,000 |
Purchase of treasury stock | (6,784,000) | ||
Cash dividends | (2,153,000) | (2,121,000) | (2,097,000) |
Net cash provided by (used for) financing activities | 50,374,000 | 18,709,000 | (22,953,000) |
Decrease in cash and cash equivalents | (1,889,000) | (554,000) | (19,153,000) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 25,639,000 | 26,193,000 | 45,346,000 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 23,750,000 | 25,639,000 | 26,193,000 |
Cash paid during the year for: | |||
Interest on deposits and borrowings | 3,740,000 | 4,119,000 | 5,378,000 |
Income taxes | 800,000 | 2,260,000 | 1,620,000 |
Non-cash investing transactions: | |||
Transfers from loans to other real estate owned | 638,000 | $ 1,030,000 | 2,113,000 |
Loans to facilitate the sale of other real estate owned | $ (260,000) | ||
Death benefit proceeds not yet received from insurance company | $ 575,000 |
Note 1 -Summary of Significant
Note 1 -Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of the significant accounting and reporting policies applied in the presentation of the accompanying financial statements follows: Nature of Operations and Basis of Presentation Middlefield Banc Corp. (the “Company”) is an Ohio corporation organized to become the holding company of The Middlefield Banking Company (“MBC”). MBC is a state-chartered bank located in Ohio. On April 19, 2007, Middlefield Banc Corp. acquired Emerald Bank (“EB”), an Ohio-chartered commercial bank headquartered in Dublin, Ohio. EB merged into MBC on January 20, 2014. On October 23, 2009, the Company established an asset resolution subsidiary named EMORECO, Inc. The Company and its subsidiaries derive substantially all of their income from banking and bank-related services, which includes interest earnings on residential real estate, commercial mortgage, commercial and consumer financings as well as interest earnings on investment securities and deposit services to its customers through ten locations. The Company is supervised by the Board of Governors of the Federal Reserve System, while MBC is subject to regulation and supervision by the Federal Deposit Insurance Corporation and the Ohio Division of Financial Institutions. The consolidated financial statements of the Company include its wholly owned subsidiaries, MBC and EMORECO, Inc. Significant intercompany items have been eliminated in preparing the consolidated financial statements. The financial statements have been prepared in conformity with U.S. Generally Accepted Accounting Principles. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ from those estimates. Investment Securities Investment securities are classified at the time of purchase, based on management’s intention and ability, as securities held to maturity or securities available for sale. Debt securities acquired with the intent and ability to hold to maturity are stated at cost adjusted for amortization of premium and accretion of discount, which are computed using a level yield method and recognized as adjustments of interest income. Certain other debt securities have been classified as available for sale to serve principally as a source of liquidity. Unrealized holding gains and losses for available-for-sale securities are reported as a separate component of stockholders’ equity, net of tax, until realized. Realized security gains and losses are computed using the specific identification method. Interest and dividends on investment securities are recognized as income when earned. Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis (the difference defined as the credit loss), the magnitude and duration of the decline, the reasons underlying the decline and the Bank’s intent to sell the security or whether it is more likely than not that the Bank would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Bank does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost (the difference defined as the non-credit portion) is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between fair value and amortized cost is charged to earnings. For equity securities where the fair value has been significantly below cost for one year, the Bank’s policy is to recognize an impairment loss unless sufficient evidence is available that the decline is not other than temporary and a recovery period can be predicted. Restricted Stock Common stock of the Federal Home Loan Bank (“FHLB”) represents ownership in an institution that is wholly owned by other financial institutions. This equity security is accounted for at cost and classified with other assets. The FHLB of Cincinnati has reported profits for 2015 and 2014, remains in compliance with regulatory capital and liquidity requirements, and continues to pay dividends on the stock and make redemptions at the par value. With consideration given to these factors, management concluded that the stock was not impaired at December 31, 2015 or 2014. Mortgage Banking Activities Mortgage servicing rights will be periodically evaluated for impairment, beginning in 2016. Impairment represents the excess of amortized cost over its estimated fair value. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate and original time to maturity. Any impairment is reported as a valuation allowance for an individual tranche. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance will be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Late fees and ancillary fees related to loan servicing are not material. The Company is exposed to interest rate risk on loans held for sale and rate-lock loan commitments (“IRLCs”). As market interest rates increase or decrease, the fair value of loans held for sale and rate-lock commitments will decrease or increase. The Company enters into derivative transactions principally to protect against the risk of adverse interest movements affecting the value of the Company’s committed loan sales pipeline. In order to mitigate the risk that a change in interest rates will result in a decrease in value of the Company’s IRLCs in the committed mortgage pipeline or its loans held for sale, the Company enters into mandatory forward loan sales contracts with secondary market participants. Mandatory forward sales contracts and committed loans intended to be held for sale are considered free-standing derivative instruments and changes in fair value are recorded in current period earnings. For committed loans, fair value is measured using current market rates for the associated mortgage loans. For mandatory forward sales contracts, fair value is measured using secondary market pricing. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff generally are reported at their outstanding unpaid principal balances net of the allowance for loan and lease losses. Interest income is recognized as income when earned on the accrual method. The accrual of interest is discontinued on a loan when management believes, after considering economic and business conditions, the borrower’s financial condition is such that collection of interest is doubtful. Interest received on nonaccrual loans is recorded as income or applied against principal according to management’s judgment as to the collectability of such principal. Loan origination fees and certain direct loan origination costs are being deferred and the net amount amortized as an adjustment of the related loan’s yield. Management is amortizing these amounts over the contractual life of the related loans. Allowance for Loan and Lease Losses The allowance for loan and lease losses represents the amount which management estimates is adequate to provide for probable loan losses inherent in the loan portfolio. The allowance method is used in providing for loan losses. Accordingly, all loan losses are charged to the allowance, and all recoveries are credited to it. The allowance for loan and lease losses is established through a provision for loan losses which is charged to operations. The provision is based on management’s periodic evaluation of the adequacy of the allowance for loan and lease losses, which encompasses the overall risk characteristics of the various portfolio segments, past experience with losses, the impact of economic conditions on borrowers, and other relevant factors. The estimates used in determining the adequacy of the allowance for loan and lease losses, including the amounts and timing of future cash flows expected on impaired loans, are particularly susceptible to significant change in the near term. A loan is considered impaired when it is probable the borrower will not repay the loan according to the original contractual terms of the loan agreement. Management has determined that first mortgage loans on one-to-four family properties and all consumer loans represent large groups of smaller-balance homogeneous loans that are to be collectively evaluated. Loans that experience insignificant payment delays, which are defined as 90 days or less, generally are not classified as impaired. A loan is not impaired during a period of delay in payment if the Company expects to collect all amounts due, including interest accrued, at the contractual interest rate for the period of delay. All loans identified as impaired are evaluated independently by management. The Company estimates credit losses on impaired loans based on the present value of expected cash flows or the fair value of the underlying collateral if the loan repayment is expected to come from the sale or operation of such collateral. Impaired loans, or portions thereof, are charged off when it is determined a realized loss has occurred. Until such time, an allowance for loan and lease losses is maintained for estimated losses. Cash receipts on impaired loans are applied first to accrued interest receivable unless otherwise required by the loan terms, except when an impaired loan is also a nonaccrual loan, in which case the portion of the payment related to interest is recognized as income. Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost net of accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets, which range from 3 to 20 years for furniture, fixtures, and equipment and 3 to 40 years for buildings and leasehold improvements. Expenditures for maintenance and repairs are charged against income as incurred. Costs of major additions and improvements are capitalized. Goodwill The Company accounts for goodwill using a three-step process for testing the impairment of goodwill on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts. No impairment of goodwill was recognized in any of the periods presented. Intangible Assets Intangible assets include core deposit intangibles, which are a measure of the value of consumer demand and savings deposits acquired in business combinations accounted for as purchases. The core deposit intangibles are being amortized to expense over a 10 year life on a straight-line basis. The recoverability of the carrying value of intangible assets is evaluated on an ongoing basis, and permanent declines in value, if any, are charged to expense. Bank-Owned Life Insurance (“BOLI”) The Company owns insurance on the lives of a certain group of key employees. The policies were purchased to help offset the increase in the costs of various fringe benefit plans including healthcare. The cash surrender value of these policies is included as an asset on the Consolidated Balance Sheet and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statement of Income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. Other Real Estate Owned Real estate properties acquired through foreclosure are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. After foreclosure, management periodically performs valuations and the real estate is carried at the lower of cost or fair value less estimated cost to sell. Revenue and expenses from operations of the properties, gains or losses on sales and additions to the valuation allowance are included in operating results. Income Taxes The Company and its subsidiaries file a consolidated federal income tax return. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. Earnings Per Share The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share are calculated utilizing net income as reported in the numerator and average shares outstanding in the denominator. The computation of diluted earnings per share differs in that the dilutive effects of any stock options, warrants, and convertible securities are adjusted in the denominator. Stock-Based Compensation The Company accounts for stock compensation based on the grant date fair value of all share-based payment awards that are expected to vest, including employee share options to be recognized as employee compensation expense over the requisite service period. For each of the years ended December 31, 2015, 2014, and 2013, the Company recorded no compensation cost related to vested stock options. As of December 31, 2015, there was no unrecognized compensation cost related to unvested stock options. At year ended December 31, 2015, 585 shares of restricted stock were awarded and immediately vested. There were no shares of restricted stock issued in 2014 or 2013. For the years ended December 31, 2015 and 2014, 2,175 and 11,223 options were exercised resulting in net proceeds to the participant of $7,000 and $50,000, respectively. Cash Flow Information The Company has defined cash and cash equivalents as those amounts included in the Consolidated Balance Sheet captions as “Cash and due from banks” and “Federal funds sold” with original maturities of less than 90 days. Advertising Costs Advertising costs are expensed as incurred. Reclassification of Comparative Amounts Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not affect net income or retained earnings. Recent Accounting Pronouncements: In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. . In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued ASU 2014-12, Compensation – Stock Compensation ( Topic 718 ): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in me asuring and recognizing the compensation cost. This Update is not expected to have a significant impact on the Company’s financial statements. In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) In May 2015, the FASB issued ASU 2015-08 , Business Combinations – Pushdown Accounting – Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements In August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers Topic 606 In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 2. EARNINGS PER SHARE There are no convertible securities that would affect the numerator in calculating basic and diluted earnings per share; therefore, net income as presented on the Consolidated Statement of Income will be used as the numerator. The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation for the year ended December 31. 2015 2014 2013 Weighted-average common shares outstanding 2,251,365 2,231,165 2,206,392 Average treasury stock shares (236,399 ) (189,530 ) (189,530 ) Weighted-average common shares and 2,014,966 2,041,635 2,016,862 Additional common stock equivalents 9,154 7,871 7,178 Weighted-average common shares and 2,024,120 2,049,506 2,024,040 Options to purchase 31,949 shares of common stock at prices ranging from $17.55 to $40.24 were outstanding during the year ended December 31, 2015. Of those options, 27,250 were considered dilutive based on the average market price exceeding the strike price for the year ended December 31, 2015. The remaining options had no dilutive effect on the earnings per share. Options to purchase 46,451 shares of common stock at prices ranging from $17.55 to $40.24 were outstanding during the year ended December 31, 2014. Of those options, 28,282 were considered dilutive based on the average market price exceeding the strike price for the year ended December 31, 2014. The remaining options had no dilutive effect on the earnings per share. Options to purchase 58,581 shares of common stock at prices ranging from $17.55 to $40.24 were outstanding during the year ended December 31, 2013. Of those options, 39,808 were considered dilutive based on the average market price exceeding the strike price for the year ended December 31, 2013. The remaining options had no dilutive effect on the earnings per share. |
Note 3 - Investment Securities
Note 3 - Investment Securities Available for Sale | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3. INVESTMENT SECURITIES AVAILABLE FOR SALE The amortized cost and fair values of securities available for sale are as follows: December 31, 2015 (Dollar amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government agency securities $ 21,655 $ 245 $ (271 ) $ 21,629 Obligations of states and political subdivisions: Taxable 1,989 134 - 2,123 Tax-exempt 91,940 3,402 (175 ) 95,167 Mortgage-backed securities in government-sponsored entities 24,480 316 (272 ) 24,524 Private-label mortgage-backed securities 2,079 184 - 2,263 Total debt securities 142,143 4,281 (718 ) 145,706 Equity securities in financial institutions 750 64 - 814 Total $ 142,893 $ 4,345 $ (718 ) $ 146,520 December 31, 2014 (Dollar amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government agency securities $ 23,035 $ 311 $ (450 ) $ 22,896 Obligations of states and political subdivisions: Taxable 2,953 226 - 3,179 Tax-exempt 91,916 3,803 (553 ) 95,166 Mortgage-backed securities in government-sponsored entities 29,150 475 (234 ) 29,391 Private-label mortgage-backed securities 2,672 247 - 2,919 Total debt securities 149,726 5,062 (1,237 ) 153,551 Equity securities in financial institutions 750 33 - 783 Total $ 150,476 $ 5,095 $ (1,237 ) $ 154,334 The amortized cost and fair value of debt securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollar amounts in thousands) Amortized Cost Fair Value Due in one year or less $ 1,139 $ 1,153 Due after one year through five years 10,790 10,890 Due after five years through ten years 19,172 19,830 Due after ten years 111,042 113,833 Total $ 142,143 $ 145,706 Investment securities with an approximate carrying value of $68.8 million and $61.9 million at December 31, 2015 and 2014, respectively, were pledged to secure deposits and other purposes as required by law. Proceeds from the sales of securities available for sale and the gross realized gains and losses for the years ended December, 31 are as follows (in thousands): 2015 2014 2013 Proceeds from sales $ 15,686 $ 8,383 $ 25,088 Gross realized gains 440 306 186 Gross realized losses (117 ) (58 ) (175 ) The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position. December 31, 2015 Less than Twelve Months Twelve Months or Greater Total (Dollar amounts in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government agency securities $ 3,818 $ (57 ) $ 10,872 $ (214 ) $ 14,690 $ (271 ) Obligations of states and political subdivisions Tax-exempt 1,268 (9 ) 9,394 (166 ) 10,662 (175 ) Mortgage-backed securities in government-sponsored entities 8,725 (86 ) 6,685 (186 ) 15,410 (272 ) Total $ 13,811 $ (152 ) $ 26,951 $ (566 ) $ 40,762 $ (718 ) December 31, 2014 Less than Twelve Months Twelve Months or Greater Total (Dollar amounts in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government agency securities $ - $ - $ 15,734 $ (450 ) $ 15,734 $ (450 ) Obligations of states and political subdivisions Tax-exempt 2,406 (10 ) 18,232 (543 ) 20,638 (553 ) Mortgage-backed securities in government-sponsored entities - - 16,774 (234 ) 16,774 (234 ) Total $ 2,406 $ (10 ) $ 50,740 $ (1,227 ) $ 53,146 $ (1,237 ) There were 46 se curities that were considered temporarily impaired at December 31, 2015. On a quarterly basis, the Company performs an assessment to determine whether there have been any events or economic circumstances indicating that a security with an unrealized loss has suffered other-than-temporary impairment (“OTTI”). A debt security is considered impaired if the fair value is less than its amortized cost basis at the reporting date. The accounting literature requires the Company to assess whether the unrealized loss is other than temporary. For equity securities where the fair value has been significantly below cost for one year, the Company’s policy is to recognize an impairment loss unless sufficient evidence is available that the decline is not other than temporary and a recovery period can be predicted. The Company has asserted that at December 31, 2015 and 2014, the declines outlined in the above table represent temporary declines and the Company does not intend to sell and does not believe it will be required to sell these securities before recovery of their cost basis, which may be at maturity. The Company has concluded that any impairment of its investment securities portfolio outlined in the above table is not other than temporary and is the result of interest rate changes, sector credit rating changes, or company-specific rating changes that are not expected to result in the non-collection of principal and interest during the period. Debt securities issued by U.S. government agencies, U.S. government-sponsored enterprises, and state and political subdivisions accounted for more than 97.9% of the total available-for-sale portfolio as of December 31, 2015, and no credit losses are expected, given the explicit and implicit guarantees provided by the U.S. federal government and the lack of significant unrealized loss positions within the obligations of state and political subdivisions security portfolio. The Company evaluates credit losses on a quarterly basis. The Company considered the following factors in determining whether a credit loss exists and the period over which the debt security is expected to recover: ● The length of time and the extent to which the fair value has been less than the amortized cost basis. ● Changes in the near term prospects of the underlying collateral of a security such as changes in default rates, loss severity given default and significant changes in prepayment assumptions. ● The level of cash flows generated from the underlying collateral supporting the principal and interest payments of the debt securities. ● Any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the overall financial condition of the issuer, credit ratings, recent legislation, and government actions affecting the issuer’s industry and actions taken by the issuer to deal with the present economic climate. |
Note 4 - Loans and Related Allo
Note 4 - Loans and Related Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. LOANS AND RELATED ALL OWANCE FOR LOAN LOSSES Major classifications of loans at December 31 are summarized as follows (in thousands): 2015 2014 Commercial and industrial $ 42,536 $ 34,928 Real estate - construction 22,137 30,296 Real estate - mortgage: Residential 232,478 210,096 Commercial 231,701 190,685 Consumer installment 4,858 4,579 533,710 470,584 Less allowance for loan and lease losses (6,385 ) (6,846 ) Net loans $ 527,325 $ 463,738 The Company’s primary business activity is with customers located within its local trade area, eastern Geauga County, and contiguous counties to the north, east, and south. The Company also serves the central Ohio market with offices in Dublin and Westerville, Ohio. Commercial, residential, consumer, and agricultural loans are granted. Although the Company has a diversified loan portfolio at December 31, 2015 and 2014, loans outstanding to individuals and businesses are dependent upon the local economic conditions in its immediate trade area. The following tables summarize the primary segments of the loan portfolio and the allowance for loan and lease losses as of December 31, 2015 and 2014 (in thousands): Real Estate- Mortgage December 31, 2015 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,808 $ 1,787 $ 3,881 $ 6,199 $ 6 $ 13,681 Collectively evaluated for impairment 40,728 20,350 228,597 225,502 4,852 520,029 Total loans $ 42,536 $ 22,137 $ 232,478 $ 231,701 $ 4,858 $ 533,710 Real estate- Mortgage December 31, 2014 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,393 $ 3,296 $ 5,183 $ 4,490 $ 6 $ 14,368 Collectively evaluated for impairment 33,535 27,000 204,913 186,195 4,573 456,216 Total loans $ 34,928 $ 30,296 $ 210,096 $ 190,685 $ 4,579 $ 470,584 Real Estate- Mortgage December 31, 2015 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Allowance for loan and lease losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 388 $ 130 $ 276 $ 39 $ - $ 833 Collectively evaluated for impairment 479 146 2,863 2,039 25 5,552 Total ending allowance balance $ 867 $ 276 $ 3,139 $ 2,078 $ 25 $ 6,385 Real Estate- Mortgage December 31, 2014 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Allowance for loan and lease losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 83 $ 589 $ 892 $ 30 $ 2 $ 1,596 Collectively evaluated for impairment 559 279 2,811 1,546 55 5,250 Total ending allowance balance $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 The Company’s loan portfolio is segmented to a level that allows management to monitor risk and performance. The portfolio is segmented into Commercial and Industrial (“C&I”), Real Estate Construction, Real Estate - Mortgage which is further segmented into Residential and Commercial real estate, and Consumer Installment Loans. The C&I loan segment consists of loans made for the purpose of financing the activities of commercial customers. The residential mortgage loan segment consists of loans made for the purpose of financing the activities of residential homeowners. The commercial mortgage loan segment consists of loans made for the purpose of financing the activities of commercial real estate owners and operators. The consumer loan segment consists primarily of installment loans and overdraft lines of credit connected with customer deposit accounts. Management evaluates individual loans in all of the commercial segments for possible impairment if the loan is greater than $150,000 and if the loan either is in nonaccrual status, or is risk rated Substandard or Doubtful and is greater than 90 days past due. Loans are considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company does not separately evaluate individual consumer and residential mortgage loans for impairment, unless such loans are part of a larger relationship that is impaired. Once the determination has been made that a loan is impaired, the determination of whether a specific allocation of the allowance is necessary is measured by comparing the recorded investment in the loan to the fair value of the loan using one of three methods: (a) the present value of expected future cash flows discounted at the loan’s effective interest rate; (b) the loan’s observable market price; or (c) the fair value of the collateral less selling costs. The method is selected on a loan-by-loan basis, with management primarily utilizing the fair value of collateral method. The evaluation of the need and amount of a specific allocation of the allowance and whether a loan can be removed from impairment status is made on a quarterly basis. The Company’s policy for recognizing interest income on impaired loans does not differ from its overall policy for interest recognition. The following tables present impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary (in thousands): December 31, 2015 Impaired Loans Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial and industrial $ 1,027 $ 1,025 $ - Real estate - construction 1,657 1,651 - Real estate - mortgage: Residential 2,445 2,443 - Commercial 2,337 2,335 - Total $ 7,466 $ 7,454 $ - With an allowance recorded: Commercial and industrial $ 781 $ 781 $ 388 Real estate - construction 130 130 130 Real estate - mortgage: Residential 1,436 1,436 276 Commercial 3,862 3,846 39 Consumer installment 6 6 - Total $ 6,215 $ 6,199 $ 833 Total: Commercial and industrial $ 1,808 $ 1,806 $ 388 Real estate - construction 1,787 1,781 130 Real estate - mortgage: Residential 3,881 3,879 276 Commercial 6,199 6,181 39 Consumer installment 6 6 - Total $ 13,681 $ 13,653 $ 833 December 31, 2014 Impaired Loans Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial and industrial $ 1,146 $ 1,145 $ - Real estate - construction 2,707 2,705 - Real estate - mortgage: Residential 2,202 2,197 - Commercial 4,064 4,060 - Total $ 10,119 $ 10,107 $ - With an allowance recorded: Commercial and industrial $ 247 $ 247 $ 83 Real estate - construction 589 589 589 Real estate - mortgage: Residential 2,981 2,978 892 Commercial 426 426 30 Consumer installment 6 6 2 Total $ 4,249 $ 4,246 $ 1,596 Total: Commercial and industrial $ 1,393 $ 1,392 $ 83 Real estate - construction 3,296 3,294 589 Real estate - mortgage: Residential 5,183 5,175 892 Commercial 4,490 4,486 30 Consumer installment 6 6 2 Total $ 14,368 $ 14,353 $ 1,596 The tables above include troubled debt restructuring totaling $3.1 million and $2.9 million as of December 31, 2015 and 2014, respectively. The following table presents interest income by class, recognized on impaired loans (in thousands): As of December 31, 2015 As of December 31, 2014 As of December 31, 2013 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial and industrial $ 1,468 $ 100 $ 1,989 $ 85 $ 2,187 $ 119 Real estate - construction 2,407 115 3,631 154 3,743 183 Real estate - mortgage: Residential 4,356 160 5,331 171 5,380 293 Commercial 5,203 350 5,998 229 6,500 493 Consumer installment 6 - 11 1 13 1 Total $ 13,440 $ 725 $ 16,960 $ 640 $ 17,824 $ 1,090 Troubled Debt Restructuring (TDR) describes loans on which the bank has granted concessions for reasons related to the customer’s financial difficulties. Such concessions may include one or more of the following: ● reduction in the interest rate to below market rates ● extension of repayment requirements beyond normal terms ● reduction of the principal amount owed ● reduction of accrued interest due ● acceptance of other assets in full or partial payment of a debt In each case the concession is made due to deterioration in the borrower’s financial condition, and the new terms are less stringent than those required on a new loan with similar risk. The following tables present the number of loan modifications by class, the corresponding recorded investment, and the subsequently defaulted modifications (in thousands): December 31, 2015 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 6 - 6 $ 434 $ 434 Real estate construction 1 - 1 181 181 Residential real estate 5 1 6 515 535 Commercial real estate 1 - 1 270 270 December 31, 2015 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 2 $ 14 Real estate construction 1 130 December 31, 2014 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Residential real estate 3 - 3 $ 140 $ 140 Commercial real estate 1 - 1 48 48 Consumer 1 - 1 6 6 December 31, 2014 Troubled Debt Restructurings Number of Contracts Recorded Investment Residential real estate 1 $ 15 December 31, 2013 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 6 1 7 $ 1,264 $ 1,264 Residential real estate 7 - 7 784 784 Commercial real estate 2 - 2 834 834 December 31, 2013 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 5 $ 574 Commercial real estate 1 190 Management uses a nine-point internal risk-rating system to monitor the credit quality of the overall loan portfolio. The first five categories are considered not criticized and are aggregated as Pass-rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. All loans greater than 90 days past due are considered Substandard. Any portion of a loan that has been charged off is placed in the Loss category. To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan-rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as bankruptcy, repossession, or death, occurs to raise awareness of a possible credit event. The Company’s Commercial Loan Officers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis with the Chief Credit Officer ultimately responsible for accurate and timely risk ratings. The Credit Department performs an annual review of all commercial relationships $1,000,000 or greater. Confirmation of the appropriate risk grade is included in the review on an ongoing basis. The Company engages an external consultant to conduct loan reviews on a semiannual basis. Generally, the external consultant reviews commercial relationships greater than $250,000 and/or criticized relationships greater than $125,000. Detailed reviews, including plans for resolution, are performed on loans classified as Substandard on a quarterly basis. Loans in the Special Mention and Substandard categories that are collectively evaluated for impairment are given separate consideration in the determination of the allowance. The following tables present the classes of the loan portfolio summarized by the aggregate Pass rating and the criticized categories of Special Mention, Substandard, and Doubtful within the internal risk rating system as of December 31, 2015 and 2014 (in thousands): Pass Special Mention Substandard Doubtful Total Loans December 31, 2015 Commercial and industrial $ 40,560 $ 242 $ 1,734 $ - $ 42,536 Real estate - construction 22,007 - - 130 22,137 Real estate - mortgage: Residential 225,945 728 5,805 - 232,478 Commercial 219,331 4,327 8,043 - 231,701 Consumer installment 4,854 - 4 - 4,858 Total $ 512,697 $ 5,297 $ 15,586 $ 130 $ 533,710 Pass Special Mention Substandard Doubtful Total Loans December 31, 2014 Commercial and industrial $ 33,160 $ - $ 1,730 $ 38 $ 34,928 Real estate - construction 29,212 495 - 589 30,296 Real estate - mortgage: Residential 200,928 584 8,584 - 210,096 Commercial 180,899 3,908 5,878 - 190,685 Consumer installment 4,572 - 7 - 4,579 Total $ 448,759 $ 4,987 $ 16,211 $ 627 $ 470,584 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of loans and nonaccrual loans as of December 31, 2015 and 2014 (in thousands): Current 30-59 Days Past Due 60-89 Days Past Due 90 Days+ Past Due Total Past Due Total Loans December 31, 2015 Commercial and industrial $ 41,544 $ 225 $ 26 $ 741 $ 992 $ 42,536 Real estate - construction 22,137 - - - - 22,137 Real estate - mortgage: Residential 229,725 1,482 92 1,179 2,753 232,478 Commercial 230,903 189 - 609 798 231,701 Consumer installment 4,837 16 3 2 21 4,858 Total $ 529,146 $ 1,912 $ 121 $ 2,531 $ 4,564 $ 533,710 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days+ Past Due Total Past Due Total Loans December 31, 2014 Commercial and industrial $ 34,480 $ 349 $ 68 $ 31 $ 448 $ 34,928 Real estate - construction 30,296 - - - - 30,296 Real estate - mortgage: Residential 205,753 2,065 363 1,915 4,343 210,096 Commercial 190,088 30 - 567 597 190,685 Consumer installment 4,547 27 3 2 32 4,579 Total $ 465,164 $ 2,471 $ 434 $ 2,515 $ 5,420 $ 470,584 The following tables present the classes of the loan portfolio summarized by nonaccrual loans and loans 90 days or more past due and still accruing as of December 31, 2015 and 2014 (in thousands): Nonaccrual 90+ Days Past Due and Accruing December 31, 2015 Commercial and industrial $ 1,450 $ - Real estate - construction 130 - Real estate - mortgage: Residential 4,122 - Commercial 1,842 - Consumer installment 1 2 Total $ 7,545 $ 2 Nonaccrual 90+ Days Past Due and Accruing December 31, 2014 Commercial and industrial $ 365 $ - Real estate - construction 587 - Real estate - mortgage: Residential 5,310 165 Commercial 1,083 - Consumer installment 2 - Total $ 7,347 $ 165 Interest income that would have been recorded had these loans not been placed on nonaccrual status was $259,000 in 2015, $207,000 in 2014, and $439,000 in 2013 . An allowance for loan and lease losses (“ALLL”) is maintained to absorb losses from the loan portfolio. The ALLL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated loss experience, and the amount of nonperforming loans. The Company’s methodology for determining the ALLL is based on the requirements of ASC Section 310-10-35 for loans individually evaluated for impairment (discussed above) and ASC Subtopic 450-20 for loans collectively evaluated for impairment, as well as the Interagency Policy Statement on the Allowance for Loan and Lease Losses and other bank regulatory guidance. The total of the two components represents the Company’s ALLL. Loans that are collectively evaluated for impairment are analyzed, with general allowances being made as appropriate. For general allowances, historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are modified by other qualitative factors. The classes described above, which are based on the purpose code assigned to each loan, provide the starting point for the ALLL analysis. Management tracks the historical net charge-off activity at the purpose code level. A historical charge-off factor is calculated utilizing the last twelve consecutive quarters. Management has identified a number of additional qualitative factors which it uses to supplement the historical charge-off factor, because these factors are likely to cause estimated credit losses associated with the existing loan pools to differ from historical loss experience. The additional factors that are evaluated quarterly and updated using information obtained from internal, regulatory, and governmental sources are: national and local economic trends and conditions; levels of and trends in delinquency rates and nonaccrual loans; trends in volumes and terms of loans; effects of changes in lending policies; experience, ability, and depth of lending staff; value of underlying collateral; and concentrations of credit from a loan type, industry, and/or geographic standpoint. Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALLL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALLL. The following tables summarize the primary segments of the loan portfolio (in thousands): Commercial and industrial Real estate- construction Real estate- residential mortgage Real estate- commercial mortgage Consumer installment Total ALLL balance at December 31, 2014 $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Charge-offs (280 ) (385 ) (425 ) (92 ) (15 ) (1,197 ) Recoveries 207 - 186 5 23 421 Provision 298 (207 ) (325 ) 589 (40 ) 315 ALLL balance at December 31, 2015 $ 867 $ 276 $ 3,139 $ 2,078 $ 25 $ 6,385 Commercial and industrial Real estate- construction Real estate- residential mortgage Real estate- commercial mortgage Consumer installment Total ALLL balance at December 31, 2013 $ 614 $ 576 $ 3,664 $ 2,170 $ 22 $ 7,046 Charge-offs (237 ) - (671 ) (260 ) (44 ) (1,212 ) Recoveries 121 60 267 40 154 642 Provision 144 232 443 (374 ) (75 ) 370 ALLL balance at December 31, 2014 $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Commercial and industrial Real estate- construction Real estate- residential mortgage Real estate- commercial mortgage Consumer installment Total ALLL balance at December 31, 2012 $ 1,732 $ 1,123 $ 2,872 $ 1,991 $ 61 $ 7,779 Charge-offs (419 ) (191 ) (675 ) - (45 ) (1,330 ) Recoveries 191 33 107 46 24 401 Provision (890 ) (389 ) 1,360 133 (18 ) 196 ALLL balance at December 31, 2013 $ 614 $ 576 $ 3,664 $ 2,170 $ 22 $ 7,046 The decrease in the ALLL balance for real estate construction was largely due to a $0.4 million charge off. The decrease in the ALLL balance for residential real estate was largely due to aggregate charge offs of $0.3 million of loans secured by first liens. The increase in the ALLL balance for commercial real estate is mostly due to the 21.5% growth in the portfolio. |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned ("OREO") | 12 Months Ended |
Dec. 31, 2015 | |
Other Real Estate Owned OREO [Abstract] | |
Other Real Estate Owned OREO [Text Block] | 5. OTHER REAL ESTATE OWNED (“OREO”) OREO comprises foreclosed assets acquired in settlement of loans and is carried at fair value less estimated cost to sell and is included in other assets on the Consolidated Balance Sheet. As of December 31, 2015 and December 31, 2014, there were $1.4 million and $2.6 million, respectively, of OREO. As of December 31, 2015, the Company has initiated formal foreclosure proceedings on $1.1 million of real estate. |
Note 6 - Premises and Equipment
Note 6 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | 6. PREMISES AND EQUIPMENT Major classifications of premises and equipment at December 31: 2015 2014 Land and land improvements $ 1,943 $ 1,943 Building and leasehold improvements 11,414 11,133 Furniture, fixtures, and equipment 4,853 4,637 18,210 17,713 Less accumulated depreciation and amortization 8,438 7,733 Total $ 9,772 $ 9,980 Depreciation and amortization charged to operations was $715,000 in 2015, $750,000 in 2014, and $676,000 in 2013 . |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. GOODWILL AND INTANGIBLE ASSETS Goodwill totaled $4,559,000 at the years ended December 31, 2015, and 2014. Core deposit intangible carrying amount was $76,000 and $116,000 for the years ended December 31, 2015, and 2014. Core deposit accumulated amortization was $320,000 and $280,000 for the years ended December 31, 2015, and 2014. Core deposit intangible assets are amortized on a straight-line basis over their estimated lives of ten years. Amortization expense totaled $40,000 in 2015, 2014, and 2013, respectively. The estimated aggregate future amortization expense for core deposit intangible assets as of December 31, 2015, is $40,000 in 2017 and $36,000 in 2018. |
Note 8 - Other Assets
Note 8 - Other Assets | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Other Assets Disclosure [Text Block] | 8. OTHER ASSETS The components of other assets at the years ended December 3: (Dollar amounts in thousands) 2015 2014 FHLB stock $ 1,887 $ 1,887 Accrued interest on investment securities 1,010 1,005 Accrued interest on loans 1,377 1,090 Deferred tax asset, net 959 1,484 Other 2,244 1,579 Total $ 7,477 $ 7,045 |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 9. DEPOSITS Time deposits at December 31, 2015, mature $92.9 million, $30.2 million, $11.0 million, $9.0 million, and $48.2 million during 2016, 2017, 2018, 2019, and 2020, respectively. The aggregate of all time deposit accounts of $250,000 or more amounted to $29.0 million and $54.6 million at December 31, 2015 and 2014, respectively. |
Note 10 - Short-term Borrowings
Note 10 - Short-term Borrowings | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Short-term Debt [Text Block] | 10. SHORT-TERM BORROWINGS The year ended December 31 outstanding balances and related information of short-term borrowings, which includes securities sold under agreements to repurchase and short-term borrowings from other banks, are summarized as follows: 2015 2014 Balance at year-end $ 35,825 $ 14,808 Average balance outstanding 11,768 8,379 Maximum month-end balance 35,825 19,970 Weighted-average rate at year-end 1.37 % 0.98 % Weighted-average rate during the year 1.65 % 1.77 % Average balances outstanding during the year represent daily average balances, and average interest rates represent interest expense divided by the related average balance. The Company maintains a $4.0 million line of credit at an adjustable rate, currently 3.92%, a $3.0 million line of credit at an adjustable rate, currently at 4.00%, and a $2.5 million line of credit at an adjustable rate, currently 3.75%. At December 31, 2015, 2014, and 2013, outstanding borrowings under these lines were $9.5 million, $3.1 million, and $3.9 million, respectively. The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) Accounted for as Secured Borrowings Overnight and Continuous December 31, 2015 December 31, 2014 Repurchase agreements: U.S. Government agency securities $ 1,052 $ 1,090 Mortgage-backed securities in government-sponsored entities 1,877 2,091 $ 2,929 $ 3,181 |
Note 11 - Other Borrowings
Note 11 - Other Borrowings | 12 Months Ended |
Dec. 31, 2015 | |
Other Borrowings [Abstract] | |
Other Borrowings [Text Block] | 11. OTHER BORROWINGS Other borrowings consist of advances from the FHLB and subordinated debt as follows: (Dollar amounts in thousands) Maturity range Weighted- average Stated interest rate range from to interest rate from to 2015 2014 Fixed-rate amortizing 07/01/17 10/01/28 4.02 % 2.99 % 4.47 % $ 1,691 $ 2,376 Junior subordinated debt 12/21/37 12/21/37 1.95 % 1.90 1.99 8,248 8,248 Total $ 9,939 $ 10,624 The scheduled maturities of other borrowings are as follows: (Dollar amounts in thousands) Year Ending December 31, Amount Weighted- Average Rate 2016 502 4.00 % 2017 373 4.00 % 2018 252 4.02 % 2019 155 4.04 % 2020 116 4.04 % Beyond 2020 8,542 1.51 % Total $ 9,939 1.84 % Fixed-rate amortizing advances from the FHLB require monthly principal and interest payments and an annual 20 percent paydown of outstanding principal. Monthly principal and interest payments are adjusted after each 20 percent paydown. Under the terms of a blanket agreement, FHLB borrowings are secured by certain qualifying assets of the Company which consist principally of first mortgage loans or mortgage-backed securities. Under this credit arrangement, the Company has a remaining borrowing capacity of approximately $80.0 million at December 31, 2015. The Company formed a special purpose entity (“Entity”) to issue $8,000,000 of floating rate, obligated mandatorily redeemable securities, and $248,000 in common securities as part of a pooled offering. The rate adjusts quarterly, equal to LIBOR plus 1.67%. The Entity may redeem them, in whole or in part, at face value. The Company borrowed the proceeds of the issuance from the Entity in December 2006 in the form of an $8,248,000 note payable, which is included in the other borrowings on the Company’s Consolidated Balance Sheet. |
Note 12 - Other Liabilities
Note 12 - Other Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | |
Other Liabilities Disclosure [Text Block] | 12. OTHER LIABILITIES The components of other liabilities are as follows: 2015 2014 (Dollar amounts in thousands) Accrued interest payable $ 395 $ 315 Supplemental Executive Retirement Plan 1,091 828 Accrued salary expense 689 609 Other 449 368 Total $ 2,624 $ 2,120 |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 13. INCOME TAXES The provision for federal income taxes consists of: 2015 2014 2013 Current payable $ 1,004 $ 2,146 $ 1,556 Deferred 558 (154 ) 423 Total provision $ 1,562 $ 1,992 $ 1,979 The tax effects of deductible and taxable temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: (Dollar amounts in thousands) 2015 2014 Deferred tax assets: Allowance for loan and lease losses $ 2,171 $ 2,328 Supplemental retirement plan 371 282 Investment security basis adjustment 66 66 Nonaccrual interest income 415 444 Deferred origination fees, net 12 295 OREO adjustments 92 94 Accrued compensation 234 207 Other 23 14 Gross deferred tax assets 3,384 3,730 Deferred tax liabilities: Premises and equipment 514 385 Net unrealized gain on securities 1,233 1,311 FHLB stock dividends 225 225 Intangibles 401 353 Mortgage servicing rights 68 - Other 44 77 Gross deferred tax liabilities 2,485 2,351 Net deferred tax assets $ 899 $ 1,379 No valuation allowance was established at December 31, 2015 and 2014, in view of the Company’s ability to carry back to taxes paid in previous years and certain tax strategies, coupled with the anticipated future taxable income as evidenced by the Company's earnings potential. The reconciliation between the federal statutory rate and the Company’s effective consolidated income tax rate is as follows: (Dollar amounts in thousands) 2015 2014 2013 Amount % of Pretax Income Amount % of Pretax Income Amount % of Pretax Income Provision at statutory rate $ 2,866 34.0 % $ 3,119 34.0 % $ 3,062 34.0 % Tax-free income (1,347 ) (15.9 ) (1,187 ) (12.9 ) (1,138 ) (12.6 ) Nondeductible interest expense 34 0.4 37 0.4 45 0.5 Other 9 0.0 23 0.2 10 0.1 Actual tax expense and effective rate $ 1,562 18.5 % $ 1,992 21.7 % $ 1,979 22.0 % ASC 740 ‐ 10 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more ‐ likely ‐ than ‐ not recognition threshold is measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more ‐ likely ‐ than ‐ not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more ‐ likely ‐ than ‐ not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. At December 31, 2015 and December 31, 2014, the Company had no unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase within the next 12 months. The Company recognizes interest and penalties on unrecognized tax benefits as a component of income tax expense. The Company and the Bank are subject to U.S. federal income tax as well as an income tax in the state of Ohio, and the Bank is subject to a capital ‐ based franchise tax in the state of Ohio. The Company and the Bank are no longer subject to examination by taxing authorities for years before December 31, 2012. |
Note 14 - Employee Benefits
Note 14 - Employee Benefits | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | 14. EMPLOYEE BENEFITS Retirement Plan The Bank maintains section 401(k) employee savings and investment plans for all full-time employees and officers of the Bank with more than one year of service. The Bank’s contributions to the plans are based on 50 percent matching of voluntary contributions up to 6 percent of compensation. An eligible employee can contribute up to 100 percen t of salary. Employee contributions are vested at all times, and MBC contributions are fully vested after six years beginning at the second year in 20 percent increments. Contributions for 2015, 2014, and 2013 to these plans amounted to $156,000, $143,000, and $155,000, respectively. Supplemental Retirement Plan Until 2001, MBC maintained a Directors’ Retirement Plan to provide postretirement payments over a ten-year period to members of the Board of Directors who had completed five or more years of service. The plan required payment of 25 percent of the final average annual board fees paid to a director in the three years preceding the director’s retirement. The following table illustrates the components of the projected payments for the Directors’ Retirement Plan for the years ended: Projected Payments 2016 $ 29,000 2017 23,000 2018 18,000 2019 12,000 2020 10,000 2021 2,000 Total $ 94,000 The retirement plan is available solely for nonemployee directors of The Middlefield Banking Company, but the Bank has not entered into any additional retirement arrangements for nonemployee directors since 2001. All director participants have retired. Executive Deferred Compensation Plan The Company maintains an Executive Deferred Compensation Plan (the “Plan”) to provide post-retirement payments to members of senior management. The Plan agreements are noncontributory, defined contribution arrangements that provide supplemental retirement income benefits to several officers, with contributions made solely by the Bank. During 2015, 2014, and 2013, the Company contributed $65,000, $115,000, and $120,000, respectively, to the Plan. Stock Option and Restricted Stock Plan The Company maintains a stock option and restricted stock plan (“the Plan”) for granting incentive stock options, nonqualified stock options, and restricted stock to key officers and employees and nonemployee directors of the Company. A total of 160,000 s hares of authorized and unissued or issued common stock were reserved for issuance under the Plan, which expires ten years from the date of stockholder ratification. The per share exercise price of an option granted will not be less than the fair value of a share of common stock on the date the option is granted. The following table presents share data related to the outstanding options: 2015 Weighted- average Exercise Price 2014 Weighted- average Exercise Price $ 46,451 $ 27.90 $ 58,581 $ 28.38 Expired (10,802 ) 36.93 - - Exercised (2,175 ) 21.31 (11,223 ) 30.45 Forfeited (1,525 ) 33.53 (907 ) 27.35 Outstanding, December 31 $ 31,949 $ 25.03 $ 46,451 $ 27.90 Exercisable, December 31 $ 31,949 $ 25.03 $ 46,451 $ 27.90 The following table summarizes the characteristics of stock options at December 31, 2015: Outstanding Exercisable Grant Date Exercise Price Shares Contractual Average Life Average Exercise Price Shares Average Exercise Price December 10, 2006 40.24 2,625 0.94 40.24 2,625 40.24 May 16, 2007 37.48 1,337 1.37 37.48 1,337 37.48 December 10, 2007 37.00 1,950 1.94 37.00 1,950 37.00 January 2, 2008 36.25 1,337 2.00 36.25 1,337 36.25 November 10, 2008 23.00 16,500 2.86 23.00 16,500 23.00 May 9, 2011 17.55 8,200 5.35 17.55 8,200 17.55 31,949 31,949 No options were granted for the years ended December 31, 2015 and 2014. The Company recognizes compensation expense in the amount of fair value of the common stock at the grant date and as an addition to stockholders’ equity. |
Note 15 - Commitments
Note 15 - Commitments | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 15. COMMITMENTS In the normal course of business, there are various outstanding commitments and certain contingent liabilities which are not reflected in the accompanying consolidated financial statements. These commitments and contingent liabilities represent financial instruments with off-balance sheet risk. The contract or notional amounts of those instruments reflect the extent of involvement in particular types of financial instruments which were composed of the following: 2015 2014 Commitments to extend credit $ 112,134 $ 97,947 Standby letters of credit 4,404 4,514 Total $ 116,538 $ 102,461 These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheet. The Company’s exposure to credit loss, in the event of nonperformance by the other parties to the financial instruments, is represented by the contractual amounts as disclosed. The Company minimizes its exposure to credit loss under these commitments by subjecting them to credit approval and review procedures and collateral requirements as deemed necessary. Commitments generally have fixed expiration dates within one year of their origination. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Performance letters of credit represent conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These instruments are issued primarily to support bid or performance-related contracts. The coverage period for these instruments is typically a one-year period with an annual renewal option subject to prior approval by management. Fees earned from the issuance of these letters are recognized over the coverage period. For secured letters of credit, the collateral is typically bank deposit instruments or customer business assets. Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward contracts for the future delivery of these mortgage loans are considered derivatives. It is the Company’s practice to enter into the forward contracts for the future purchase of mortgage-backed securities when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. These mortgage banking derivatives are not formally designated as hedge relationships. The derivative assets and liabilities are considered immaterial as of December 31, 2015. Associated income and expense is reported in gains on sale of loans. Leasing Arrangements The Company leases certain of its banking facilities under operating leases which contain certain renewal options. As of December 31, 2015, approximate future minimum rental payments, including the renewal options under these leases, are as follows (in thousands): 2016 $ 285 2017 293 2018 294 2019 289 2020 301 Thereafter 2,055 $ 3,517 The above amounts represent minimum rentals not adjusted for possible future increases due to escalation provisions and assume that all renewal option periods will be exercised by the Company. Rent expense approximated $288,000, $269,000, and $301,000 for the years ended December 31, 2015, 2014, and 2013, respectively. |
Note 16 - Regulatory Restrictio
Note 16 - Regulatory Restrictions | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Banking and Thrift Disclosure [Text Block] | 16. REGULATORY RESTRICTIONS The Company is subject to the regulatory requirements of the Federal Reserve System as a bank holding company. The bank is subject to regulations of the Federal Deposit Insurance Corporation (“FDIC”) and the State of Ohio, Division of Financial Institutions. Since the establishment in the fourth quarter of 2009 of Middlefield Banc Corp.’s nonbank-asset resolution subsidiary, EMORECO, Inc., the Bank has sold $5.8 million of nonperforming assets to this subsidiary. Cash Requirements The Cleveland district Federal Reserve Bank requires the Company to maintain certain average reserve balances. As of December 31, 2015 and 2014, the Bank had required reserves of $6.9 million and $6.8 million comprising vault cash and a depository amount held with the Federal Reserve Bank. Loans Federal law prevents the Company from borrowing from the Bank unless the loans are secured by specific obligations. Further, such secured loans are limited in amount of 10 percent of the Bank’s common stock and capital surplus. Dividends MBC is subject to dividend restrictions that generally limit the amount of dividends that can be paid by an Ohio state-chartered bank. Under the Ohio Banking Code, cash dividends may not exceed net profits as defined for that year combined with retained net profits for the two preceding years less any required transfers to surplus. Under this formula the amount available for payment of dividends for 2015 approximates $8.5 million plus 2016 profits retained up to the date of the dividend declaration. As a condition to the ODFI's approval of the merger of Emerald Bank into MBC, until the third anniversary of the merger, that is until January 20, 2017, MBC will have to obtain the ODFI's advance approval for dividend payments to the Company. |
Note 17 - Regulatory Capital
Note 17 - Regulatory Capital | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 17. REGULATORY CAPITAL The Bank and Company are subject to regulatory capital requirements administered by banking agencies. Capital adequacy guidelines and prompt corrective-action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements. Management believes as of December 31, 2015, the Bank and Company have met all capital adequacy requirements to which it is subject. The prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, under-capitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and plans for capital restoration are required. The Basel III Capital Rules became effective for the Bank on January 1, 2015 and certain provisions are subject to a phase-in period. The implementation of the capital conservation buffer will begin on January 1, 2016 at the 0.625% level and be phased in over a four -year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). The Basel III Capital Rules also provide for a “countercyclical capital buffer” that is applicable to only certain covered institutions and does not have any current applicability to the Bank. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 capital to risk-weighted assets above the minimum but below the conservation buffer (or below the combined capital conservation buffer and countercyclical capital buffer, when the latter is applied) will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. The following tables present actual and required capital ratios as of December 31, 2015 under the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. As of December 31, 2015 Leverage Tier 1 Risk Based Common Equity Tier 1 Total Risk Based The Middlefield Banking Company 9.23 % 12.52 % 12.52 % 13.73 % Middlefield Banc Corp. 8.69 % 12.00 % 12.00 % 13.20 % Adequately capitalized ratio 4.00 % 6.00 % 4.50 % 8.00 % Adequately capitalized ratio plus capital conservation buffer 4.00 % 8.50 % 7.00 % 10.50 % Well-capitalized ratio (Bank only) 5.00 % 8.00 % 6.50 % 10.00 % See Note 15 for additional information concerning regulatory capital requirements The Company’s and its subsidiary’s actual capital ratios are presented in the following table that shows that all regulatory capital requirements were met as of December 31, 2014. As of December 31, 2014 Leverage Tier 1 Risk Based Total Risk Based The Middlefield Banking Company 9.25 % 12.95 % 14.19 % Middlefield Banc Corp. 9.60 % 13.38 % 14.64 % Adequately capitalized ratio 4.00 % 4.00 % 8.00 % Well-capitalized ratio (Bank only) 5.00 % 6.00 % 10.00 % |
Note 18 - Fair Value Measuremen
Note 18 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 18. FAIR VALUE DISCLOSURE MEASUREMENTS The following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. The three broad levels defined by U.S. generally accepted accounting principles are as follows: Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. This hierarchy requires the use of observable market data when available. The following tables present the assets measured on a recurring basis on the Consolidated Balance Sheet at their fair value as of December 31, 2015 and 2014, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. December 31, 2015 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 21,629 $ - $ 21,629 Obligations of states and political subdivisions - 97,290 - 97,290 Mortgage-backed securities in government-sponsored entities - 24,524 - 24,524 Private-label mortgage-backed securities - 2,263 - 2,263 Total debt securities - 145,706 - 145,706 Equity securities in financial institutions - 814 - 814 Total $ - $ 146,520 $ - $ 146,520 December 31, 2014 Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 22,896 $ - $ 22,896 Obligations of states and political subdivisions - 98,345 - 98,345 Mortgage-backed securities in government-sponsored entities - 29,391 - 29,391 Private-label mortgage-backed securities - 2,919 - 2,919 Total debt securities - 153,551 - 153,551 Equity securities in financial institutions - 783 - 783 Total $ - $ 154,334 $ - $ 154,334 Financial instruments are considered Level III when their values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. In addition to these unobservable inputs, the valuation models for Level III financial instruments typically also rely on a number of inputs that are readily observable either directly or indirectly. Level III financial instruments also include those for which the determination of fair value requires significant management judgment or estimation. The following tables present the assets measured on a non-recurring basis on the Consolidated Balance Sheet at their fair value by level within the fair value hierarchy. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loan include quoted market prices for identical assets classified as Level I inputs and observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. December 31, 2015 Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 12,848 $ 12,848 Other real estate owned - - 1,412 1,412 December 31, 2014 Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 12,772 $ 12,772 Other real estate owned - - 2,590 2,590 The following tables present additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company uses Level III inputs to determine fair value: Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2015 Impaired loans $ 6,867 Discounted cash flow Discount rate 3.1% to 7.9% (5.0%) 5,981 Appraisal of collateral (1) Appraisal adjustments (2) 0.0% to 87.1% (23.3%) Other real estate owned $ 1,412 Appraisal of collateral (1) Appraisal 0.0% to 10.0% (7.3%) Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2014 Impaired loans $ 12,772 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 84.6% (25.5%) Other real estate owned $ 2,590 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 10.0% (7.5%) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. The estimated fair value of the Company’s financial instruments is as follows: December 31, 2015 Carrying Value Level I Level II Level III Total Fair Value (in thousands) Financial assets: Cash and cash equivalents $ 23,750 $ 23,750 $ - $ - $ 23,750 Investment securities available for sale 146,520 - 146,520 - 146,520 Loans held for sale 1,107 - 1,107 - 1,107 Net loans 527,325 - - 534,021 534,021 Bank-owned life insurance 13,141 13,141 - - 13,141 Federal Home Loan Bank stock 1,887 1,887 - - 1,887 Accrued interest receivable 2,387 2,387 - - 2,387 Financial liabilities: Deposits $ 624,447 $ 433,226 $ - $ 191,747 $ 624,973 Short-term borrowings 35,825 35,825 - - 35,825 Other borrowings 9,939 - 10,063 10,063 Accrued interest payable 395 395 - - 395 December 31, 2014 Carrying Value Level I Level II Level III Total Fair Value (in thousands) Financial assets: Cash and cash equivalents $ 25,639 $ 25,639 $ - $ - $ 25,639 Investment securities available for sale 154,334 - 154,334 - 154,334 Loans held for sale 438 - 438 - 438 Net loans 463,738 - - 475,019 475,019 Bank-owned life insurance 9,092 9,092 - - 9,092 Federal Home Loan Bank stock 1,887 1,887 - - 1,887 Accrued interest receivable 2,095 2,095 - - 2,095 Financial liabilities: Deposits $ 586,112 $ 416,254 $ - $ 170,542 $ 586,796 Short-term borrowings 14,808 14,808 - - 14,808 Other borrowings 10,624 - 10,822 10,822 Accrued interest payable 315 315 - - 315 Financial instruments are defined as cash, evidence of ownership interest in an entity, or a contract which creates an obligation or right to receive or deliver cash or another financial instrument from/to a second entity on potentially favorable or unfavorable terms. Fair value is defined as the amount at which a financial instrument could be exchanged in a current transaction between willing parties other than in a forced liquidation sale. If a quoted market price is available for a financial instrument, the estimated fair value would be calculated based upon the market price per trading unit of the instrument. If no readily available market exists, the fair value estimates for financial instruments should be based upon management’s judgment regarding current economic conditions, interest rate risk, expected cash flows, future estimated losses, and other factors as determined through various option pricing formulas or simulation modeling. Since many of these assumptions result from judgments made by management based upon estimates which are inherently uncertain, the resulting estimated fair values may not be indicative of the amount realizable in the sale of a particular financial instrument. In addition, changes in assumptions on which the estimated fair values are based may have a significant impact on the resulting estimated fair values. As certain assets such as deferred tax assets and premises and equipment are not considered financial instruments, the estimated fair value of financial instruments would not represent the full value of the Company. The Company employed simulation modeling in determining the estimated fair value of financial instruments for which quoted market prices were not available based upon the following assumptions. Cash and Cash Equivalents, Federal Home Loan Bank Stock, Accrued Interest Receivable, Accrued Interest Payable, and Short-Term Borrowings The fair value is equal to the current carrying value. Bank-Owned Life Insurance The fair value is equal to the cash surrender value of the life insurance policies. Investment Securities Available for Sale The fair value of investment securities is equal to the available quoted market price. If no quoted market price is available, fair value is estimated using the quoted market price for similar securities. Loans The fair value is estimated by discounting future cash flows using current market inputs at which loans with similar terms and qualities would be made to borrowers of similar credit quality. Where quoted market prices were available, primarily for certain residential mortgage loans, such market rates were utilized as estimates for fair value. Mortgage loans held for sale Mortgage loans held for sale are carried at their fair value. Mortgage loans held for sale are estimated using security prices for similar product types and, therefore, are classified in Level II. Deposits and Other Borrowed Funds The fair values of certificates of deposit and other borrowed funds are based on the discounted value of contractual cash flows. The discount rates are estimated using rates currently offered for similar instruments with similar remaining maturities. Demand, savings, and money market deposits are valued at the amount payable on demand as of year-end. Commitments to Extend Credit These financial instruments are generally not subject to sale, and estimated fair values are not readily available. The carrying value, represented by the net deferred fee arising from the unrecognized commitment or letter of credit, and the fair value, determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, are not considered material for disclosure. The contractual amounts of unfunded commitments and letters of credit are presented in Note 14. |
Note 19 - Accumulated Other Com
Note 19 - Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | 19. ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the changes in accumulated other comprehensive income (loss) by component net of tax: (Dollars in thousands) Unrealized gains on available-for-sale securities (a) Balance as of December 31, 2014 $ 2,548 Other comprehensive income before reclassification 60 Amount reclassified from accumulated other comprehensive income (213 ) Period change (153 ) Balance at December 31, 2015 $ 2,395 (Dollars in thousands) Unrealized gains on available for sale securities (a) Balance as of December 31, 2013 $ (2,237 ) Other comprehensive income before reclassification 4,949 Amount reclassified from accumulated other comprehensive income (164 ) Period change 4,785 Balance at December 31, 2014 $ 2,548 (a) All amounts are net of tax. Amounts in parentheses indicate debits. The following tables present significant amounts reclassified out of each component of accumulated other comprehensive income (loss): Amount Reclassified from Accumulated Other Affected Line Item in the Statement Where (Dollars in thousands) Comprehensive Income (a) Net Income is Details about other comprehensive income December 31, 2015 Presented Unrealized gains on available-for-sale securities $ 323 Investment securities gains, net (110 ) Income taxes $ 213 Net of tax Amount Reclassified from Accumulated Other Affected Line Item in the Statement Where (Dollars in thousands) Comprehensive Income (a) Net Income is Details about other comprehensive income December 31, 2014 Presented Unrealized gains on available-for-sale securities $ 248 Investment securities gains, net (84 ) Income taxes $ 164 Net of tax (a) Amounts in parentheses indicate debits to net income |
Note 20 - Parent Company
Note 20 - Parent Company | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 20. PARENT COMPANY Following are condensed financial statements for the Company. CONDENSED BALANCE SHEET (Dollar amounts in thousands) December 31, 2015 2014 ASSETS Cash and due from banks $ 1,329 $ 466 Investment securities available for sale 814 783 Investment in nonbank subsidiary 2,418 2,534 Investment in subsidiary bank 73,061 69,514 Other assets 2,475 1,981 TOTAL ASSETS $ 80,097 $ 75,278 LIABILITIES Trust preferred securities $ 8,248 $ 8,248 Short-term borrowings 9,499 3,136 Other liabilities 43 27 TOTAL LIABILITIES 17,790 11,411 STOCKHOLDERS' EQUITY 62,307 63,867 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 80,097 $ 75,278 CONDENSED STATEMENT OF INCOME AND COMPREHENSIVE INCOME Year Ended December 31, (Dollar amounts in thousands) 2015 2014 2013 INCOME Dividends from subsidiary bank $ 4,023 $ 3,142 $ 2,198 Other 19 8 5 Total income 4,042 3,150 2,203 EXPENSES Interest expense 290 304 361 Other 860 816 475 Total expenses 1,150 1,120 836 Income before income tax benefit 2,892 2,030 1,367 Income tax benefit (386 ) (378 ) (283 ) Income before equity in undistributed net income of subsidiaries 3,278 2,408 1,650 Equity in undistributed net income of subsidiaries 3,587 4,772 5,378 NET INCOME $ 6,865 $ 7,180 $ 7,028 Comprehensive Income (Loss) $ 6,712 $ 11,965 $ (600 ) CONDENSED STATEMENT OF CASH FLOWS Year Ended December 31, (Dollar amounts in thousands) 2015 2014 2013 OPERATING ACTIVITIES Net income $ 6,865 $ 7,180 $ 7,028 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of Middlefield Banking Company (3,703 ) (4,798 ) (4,884 ) Equity in undistributed net income of Emerald Bank - - (598 ) Equity in undistributed net loss of EMORECO 116 26 104 Stock-based compensation expense 18 10 - Other (503 ) (409 ) (253 ) Net cash provided by operating activities 2,793 2,009 1,397 FINANCING ACTIVITIES Net increase (decrease) in short-term borrowings 6,363 (759 ) (976 ) Purchase of treasury stock (6,784 ) - - Common stock issued - - 74 Stock options exercised (7 ) (50 ) (77 ) Proceeds from dividend reinvestment plan 651 590 736 Cash dividends (2,153 ) (2,121 ) (2,097 ) Net cash used for financing activities (1,930 ) (2,340 ) (2,340 ) Increase (decrease) in cash 863 (331 ) (943 ) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 466 797 1,740 CASH AND CASH EQUIVALENTS $ 1,329 $ 466 $ 797 |
Note 21 - Selected Quarterly Fi
Note 21 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | 21. SELECTED QUARTERLY FINANCIAL DATA (Unaudited) (Dollar amounts in thousands) Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Total interest income $ 7,035 $ 7,066 $ 7,151 $ 7,343 Total interest expense 883 990 959 988 Net interest income 6,152 6,076 6,192 6,355 Provision for loan losses 105 - 105 105 Net interest income after provision for loan losses 6,047 6,076 6,087 6,250 Total noninterest income 796 962 1,108 1,178 Total noninterest expense 4,811 5,217 4,669 5,380 Income before income taxes 2,032 1,821 2,526 2,048 Income taxes 404 316 544 298 Net income $ 1,628 $ 1,505 $ 1,982 $ 1,750 Per share data: Net income Basic $ 0.79 $ 0.73 $ 0.96 $ 0.93 Diluted 0.78 0.73 0.96 0.92 Average shares outstanding: Basic 2,053,660 2,058,986 2,064,054 1,884,484 Diluted 2,062,867 2,068,313 2,072,639 1,893,345 (Dollar amounts in thousands) Three Months Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Total interest income $ 6,989 $ 6,919 $ 6,911 $ 7,055 Total interest expense 1,033 1,033 999 1,005 Net interest income 5,956 5,886 5,912 6,050 Provision for loan losses 180 120 70 - Net interest income after provision for loan losses 5,776 5,766 5,842 6,050 Total noninterest income 715 857 990 1,026 Total noninterest expense 4,229 4,598 4,385 4,638 Income before income taxes 2,262 2,025 2,447 2,438 Income taxes 499 414 529 550 Net income $ 1,763 $ 1,611 $ 1,918 $ 1,888 Per share data: Net income Basic $ 0.87 $ 0.79 $ 0.94 $ 0.92 Diluted 0.86 0.79 0.93 0.92 Average shares outstanding: Basic 2,033,480 2,038,026 2,044,124 2,049,536 Diluted 2,039,515 2,044,564 2,052,012 2,059,561 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Nature of Operations and Basis of Presentation Middlefield Banc Corp. (the “Company”) is an Ohio corporation organized to become the holding company of The Middlefield Banking Company (“MBC”). MBC is a state-chartered bank located in Ohio. On April 19, 2007, Middlefield Banc Corp. acquired Emerald Bank (“EB”), an Ohio-chartered commercial bank headquartered in Dublin, Ohio. EB merged into MBC on January 20, 2014. On October 23, 2009, the Company established an asset resolution subsidiary named EMORECO, Inc. The Company and its subsidiaries derive substantially all of their income from banking and bank-related services, which includes interest earnings on residential real estate, commercial mortgage, commercial and consumer financings as well as interest earnings on investment securities and deposit services to its customers through ten locations. The Company is supervised by the Board of Governors of the Federal Reserve System, while MBC is subject to regulation and supervision by the Federal Deposit Insurance Corporation and the Ohio Division of Financial Institutions. The consolidated financial statements of the Company include its wholly owned subsidiaries, MBC and EMORECO, Inc. Significant intercompany items have been eliminated in preparing the consolidated financial statements. The financial statements have been prepared in conformity with U.S. Generally Accepted Accounting Principles. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ from those estimates. |
Marketable Securities, Policy [Policy Text Block] | Investment Securities Investment securities are classified at the time of purchase, based on management’s intention and ability, as securities held to maturity or securities available for sale. Debt securities acquired with the intent and ability to hold to maturity are stated at cost adjusted for amortization of premium and accretion of discount, which are computed using a level yield method and recognized as adjustments of interest income. Certain other debt securities have been classified as available for sale to serve principally as a source of liquidity. Unrealized holding gains and losses for available-for-sale securities are reported as a separate component of stockholders’ equity, net of tax, until realized. Realized security gains and losses are computed using the specific identification method. Interest and dividends on investment securities are recognized as income when earned. Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis (the difference defined as the credit loss), the magnitude and duration of the decline, the reasons underlying the decline and the Bank’s intent to sell the security or whether it is more likely than not that the Bank would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Bank does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost (the difference defined as the non-credit portion) is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between fair value and amortized cost is charged to earnings. For equity securities where the fair value has been significantly below cost for one year, the Bank’s policy is to recognize an impairment loss unless sufficient evidence is available that the decline is not other than temporary and a recovery period can be predicted. |
Cost Method Investments, Policy [Policy Text Block] | Restricted Stock Common stock of the Federal Home Loan Bank (“FHLB”) represents ownership in an institution that is wholly owned by other financial institutions. This equity security is accounted for at cost and classified with other assets. The FHLB of Cincinnati has reported profits for 2015 and 2014, remains in compliance with regulatory capital and liquidity requirements, and continues to pay dividends on the stock and make redemptions at the par value. With consideration given to these factors, management concluded that the stock was not impaired at December 31, 2015 or 2014. |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Banking Activities Mortgage servicing rights will be periodically evaluated for impairment, beginning in 2016. Impairment represents the excess of amortized cost over its estimated fair value. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate and original time to maturity. Any impairment is reported as a valuation allowance for an individual tranche. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance will be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of outstanding principal and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Late fees and ancillary fees related to loan servicing are not material. The Company is exposed to interest rate risk on loans held for sale and rate-lock loan commitments (“IRLCs”). As market interest rates increase or decrease, the fair value of loans held for sale and rate-lock commitments will decrease or increase. The Company enters into derivative transactions principally to protect against the risk of adverse interest movements affecting the value of the Company’s committed loan sales pipeline. In order to mitigate the risk that a change in interest rates will result in a decrease in value of the Company’s IRLCs in the committed mortgage pipeline or its loans held for sale, the Company enters into mandatory forward loan sales contracts with secondary market participants. Mandatory forward sales contracts and committed loans intended to be held for sale are considered free-standing derivative instruments and changes in fair value are recorded in current period earnings. For committed loans, fair value is measured using current market rates for the associated mortgage loans. For mandatory forward sales contracts, fair value is measured using secondary market pricing. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff generally are reported at their outstanding unpaid principal balances net of the allowance for loan and lease losses. Interest income is recognized as income when earned on the accrual method. The accrual of interest is discontinued on a loan when management believes, after considering economic and business conditions, the borrower’s financial condition is such that collection of interest is doubtful. Interest received on nonaccrual loans is recorded as income or applied against principal according to management’s judgment as to the collectability of such principal. Loan origination fees and certain direct loan origination costs are being deferred and the net amount amortized as an adjustment of the related loan’s yield. Management is amortizing these amounts over the contractual life of the related loans. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan and Lease Losses The allowance for loan and lease losses represents the amount which management estimates is adequate to provide for probable loan losses inherent in the loan portfolio. The allowance method is used in providing for loan losses. Accordingly, all loan losses are charged to the allowance, and all recoveries are credited to it. The allowance for loan and lease losses is established through a provision for loan losses which is charged to operations. The provision is based on management’s periodic evaluation of the adequacy of the allowance for loan and lease losses, which encompasses the overall risk characteristics of the various portfolio segments, past experience with losses, the impact of economic conditions on borrowers, and other relevant factors. The estimates used in determining the adequacy of the allowance for loan and lease losses, including the amounts and timing of future cash flows expected on impaired loans, are particularly susceptible to significant change in the near term. A loan is considered impaired when it is probable the borrower will not repay the loan according to the original contractual terms of the loan agreement. Management has determined that first mortgage loans on one-to-four family properties and all consumer loans represent large groups of smaller-balance homogeneous loans that are to be collectively evaluated. Loans that experience insignificant payment delays, which are defined as 90 days or less, generally are not classified as impaired. A loan is not impaired during a period of delay in payment if the Company expects to collect all amounts due, including interest accrued, at the contractual interest rate for the period of delay. All loans identified as impaired are evaluated independently by management. The Company estimates credit losses on impaired loans based on the present value of expected cash flows or the fair value of the underlying collateral if the loan repayment is expected to come from the sale or operation of such collateral. Impaired loans, or portions thereof, are charged off when it is determined a realized loss has occurred. Until such time, an allowance for loan and lease losses is maintained for estimated losses. Cash receipts on impaired loans are applied first to accrued interest receivable unless otherwise required by the loan terms, except when an impaired loan is also a nonaccrual loan, in which case the portion of the payment related to interest is recognized as income. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost net of accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets, which range from 3 to 20 years for furniture, fixtures, and equipment and 3 to 40 years for buildings and leasehold improvements. Expenditures for maintenance and repairs are charged against income as incurred. Costs of major additions and improvements are capitalized. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill The Company accounts for goodwill using a three-step process for testing the impairment of goodwill on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts. No impairment of goodwill was recognized in any of the periods presented. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets include core deposit intangibles, which are a measure of the value of consumer demand and savings deposits acquired in business combinations accounted for as purchases. The core deposit intangibles are being amortized to expense over a 10 year life on a straight-line basis. The recoverability of the carrying value of intangible assets is evaluated on an ongoing basis, and permanent declines in value, if any, are charged to expense. |
Life Insurance Corporate or Bank Owned [Policy Text Block] | Bank-Owned Life Insurance (“BOLI”) The Company owns insurance on the lives of a certain group of key employees. The policies were purchased to help offset the increase in the costs of various fringe benefit plans including healthcare. The cash surrender value of these policies is included as an asset on the Consolidated Balance Sheet and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statement of Income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. |
Real Estate, Policy [Policy Text Block] | Other Real Estate Owned Real estate properties acquired through foreclosure are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. After foreclosure, management periodically performs valuations and the real estate is carried at the lower of cost or fair value less estimated cost to sell. Revenue and expenses from operations of the properties, gains or losses on sales and additions to the valuation allowance are included in operating results. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company and its subsidiaries file a consolidated federal income tax return. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share are calculated utilizing net income as reported in the numerator and average shares outstanding in the denominator. The computation of diluted earnings per share differs in that the dilutive effects of any stock options, warrants, and convertible securities are adjusted in the denominator. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company accounts for stock compensation based on the grant date fair value of all share-based payment awards that are expected to vest, including employee share options to be recognized as employee compensation expense over the requisite service period. For each of the years ended December 31, 2015, 2014, and 2013, the Company recorded no compensation cost related to vested stock options. As of December 31, 2015, there was no unrecognized compensation cost related to unvested stock options. At year ended December 31, 2015, 585 shares of restricted stock were awarded and immediately vested. There were no shares of restricted stock issued in 2014 or 2013. For the years ended December 31, 2015 and 2014, 2,175 and 11,223 options were exercised resulting in net proceeds to the participant of $7,000 and $50,000, respectively. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flow Information The Company has defined cash and cash equivalents as those amounts included in the Consolidated Balance Sheet captions as “Cash and due from banks” and “Federal funds sold” with original maturities of less than 90 days. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs Advertising costs are expensed as incurred. |
Reclassification, Policy [Policy Text Block] | Reclassification of Comparative Amounts Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not affect net income or retained earnings. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements: In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. . In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued ASU 2014-12, Compensation – Stock Compensation ( Topic 718 ): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in me asuring and recognizing the compensation cost. This Update is not expected to have a significant impact on the Company’s financial statements. In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) In May 2015, the FASB issued ASU 2015-08 , Business Combinations – Pushdown Accounting – Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements In August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers Topic 606 In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities |
Note 2 - Earnings Per Share (Ta
Note 2 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Weighted Average Number of Shares [Table Text Block] | 2015 2014 2013 Weighted-average common shares outstanding 2,251,365 2,231,165 2,206,392 Average treasury stock shares (236,399 ) (189,530 ) (189,530 ) Weighted-average common shares and 2,014,966 2,041,635 2,016,862 Additional common stock equivalents 9,154 7,871 7,178 Weighted-average common shares and 2,024,120 2,049,506 2,024,040 |
Note 3 - Investment Securitie32
Note 3 - Investment Securities Available for Sale (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2015 (Dollar amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government agency securities $ 21,655 $ 245 $ (271 ) $ 21,629 Obligations of states and political subdivisions: Taxable 1,989 134 - 2,123 Tax-exempt 91,940 3,402 (175 ) 95,167 Mortgage-backed securities in government-sponsored entities 24,480 316 (272 ) 24,524 Private-label mortgage-backed securities 2,079 184 - 2,263 Total debt securities 142,143 4,281 (718 ) 145,706 Equity securities in financial institutions 750 64 - 814 Total $ 142,893 $ 4,345 $ (718 ) $ 146,520 December 31, 2014 (Dollar amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government agency securities $ 23,035 $ 311 $ (450 ) $ 22,896 Obligations of states and political subdivisions: Taxable 2,953 226 - 3,179 Tax-exempt 91,916 3,803 (553 ) 95,166 Mortgage-backed securities in government-sponsored entities 29,150 475 (234 ) 29,391 Private-label mortgage-backed securities 2,672 247 - 2,919 Total debt securities 149,726 5,062 (1,237 ) 153,551 Equity securities in financial institutions 750 33 - 783 Total $ 150,476 $ 5,095 $ (1,237 ) $ 154,334 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollar amounts in thousands) Amortized Cost Fair Value Due in one year or less $ 1,139 $ 1,153 Due after one year through five years 10,790 10,890 Due after five years through ten years 19,172 19,830 Due after ten years 111,042 113,833 Total $ 142,143 $ 145,706 |
Realized Gain (Loss) on Investments [Table Text Block] | 2015 2014 2013 Proceeds from sales $ 15,686 $ 8,383 $ 25,088 Gross realized gains 440 306 186 Gross realized losses (117 ) (58 ) (175 ) |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 2015 Less than Twelve Months Twelve Months or Greater Total (Dollar amounts in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government agency securities $ 3,818 $ (57 ) $ 10,872 $ (214 ) $ 14,690 $ (271 ) Obligations of states and political subdivisions Tax-exempt 1,268 (9 ) 9,394 (166 ) 10,662 (175 ) Mortgage-backed securities in government-sponsored entities 8,725 (86 ) 6,685 (186 ) 15,410 (272 ) Total $ 13,811 $ (152 ) $ 26,951 $ (566 ) $ 40,762 $ (718 ) December 31, 2014 Less than Twelve Months Twelve Months or Greater Total (Dollar amounts in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government agency securities $ - $ - $ 15,734 $ (450 ) $ 15,734 $ (450 ) Obligations of states and political subdivisions Tax-exempt 2,406 (10 ) 18,232 (543 ) 20,638 (553 ) Mortgage-backed securities in government-sponsored entities - - 16,774 (234 ) 16,774 (234 ) Total $ 2,406 $ (10 ) $ 50,740 $ (1,227 ) $ 53,146 $ (1,237 ) |
Note 4 - Loans and Related Al33
Note 4 - Loans and Related Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Note 4 - Loans and Related Allowance for Loan Losses (Tables) [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2015 2014 Commercial and industrial $ 42,536 $ 34,928 Real estate - construction 22,137 30,296 Real estate - mortgage: Residential 232,478 210,096 Commercial 231,701 190,685 Consumer installment 4,858 4,579 533,710 470,584 Less allowance for loan and lease losses (6,385 ) (6,846 ) Net loans $ 527,325 $ 463,738 |
Schedule of Financing Receivable by Segment [Table Text Block] | Real Estate- Mortgage December 31, 2015 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,808 $ 1,787 $ 3,881 $ 6,199 $ 6 $ 13,681 Collectively evaluated for impairment 40,728 20,350 228,597 225,502 4,852 520,029 Total loans $ 42,536 $ 22,137 $ 232,478 $ 231,701 $ 4,858 $ 533,710 Real estate- Mortgage December 31, 2014 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,393 $ 3,296 $ 5,183 $ 4,490 $ 6 $ 14,368 Collectively evaluated for impairment 33,535 27,000 204,913 186,195 4,573 456,216 Total loans $ 34,928 $ 30,296 $ 210,096 $ 190,685 $ 4,579 $ 470,584 |
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | Real Estate- Mortgage December 31, 2015 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Allowance for loan and lease losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 388 $ 130 $ 276 $ 39 $ - $ 833 Collectively evaluated for impairment 479 146 2,863 2,039 25 5,552 Total ending allowance balance $ 867 $ 276 $ 3,139 $ 2,078 $ 25 $ 6,385 Real Estate- Mortgage December 31, 2014 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Allowance for loan and lease losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 83 $ 589 $ 892 $ 30 $ 2 $ 1,596 Collectively evaluated for impairment 559 279 2,811 1,546 55 5,250 Total ending allowance balance $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Commercial and industrial Real estate- construction Real estate- residential mortgage Real estate- commercial mortgage Consumer installment Total ALLL balance at December 31, 2014 $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Charge-offs (280 ) (385 ) (425 ) (92 ) (15 ) (1,197 ) Recoveries 207 - 186 5 23 421 Provision 298 (207 ) (325 ) 589 (40 ) 315 ALLL balance at December 31, 2015 $ 867 $ 276 $ 3,139 $ 2,078 $ 25 $ 6,385 Commercial and industrial Real estate- construction Real estate- residential mortgage Real estate- commercial mortgage Consumer installment Total ALLL balance at December 31, 2013 $ 614 $ 576 $ 3,664 $ 2,170 $ 22 $ 7,046 Charge-offs (237 ) - (671 ) (260 ) (44 ) (1,212 ) Recoveries 121 60 267 40 154 642 Provision 144 232 443 (374 ) (75 ) 370 ALLL balance at December 31, 2014 $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Commercial and industrial Real estate- construction Real estate- residential mortgage Real estate- commercial mortgage Consumer installment Total ALLL balance at December 31, 2012 $ 1,732 $ 1,123 $ 2,872 $ 1,991 $ 61 $ 7,779 Charge-offs (419 ) (191 ) (675 ) - (45 ) (1,330 ) Recoveries 191 33 107 46 24 401 Provision (890 ) (389 ) 1,360 133 (18 ) 196 ALLL balance at December 31, 2013 $ 614 $ 576 $ 3,664 $ 2,170 $ 22 $ 7,046 |
Impaired Financing Receivables [Table Text Block] | December 31, 2015 Impaired Loans Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial and industrial $ 1,027 $ 1,025 $ - Real estate - construction 1,657 1,651 - Real estate - mortgage: Residential 2,445 2,443 - Commercial 2,337 2,335 - Total $ 7,466 $ 7,454 $ - With an allowance recorded: Commercial and industrial $ 781 $ 781 $ 388 Real estate - construction 130 130 130 Real estate - mortgage: Residential 1,436 1,436 276 Commercial 3,862 3,846 39 Consumer installment 6 6 - Total $ 6,215 $ 6,199 $ 833 Total: Commercial and industrial $ 1,808 $ 1,806 $ 388 Real estate - construction 1,787 1,781 130 Real estate - mortgage: Residential 3,881 3,879 276 Commercial 6,199 6,181 39 Consumer installment 6 6 - Total $ 13,681 $ 13,653 $ 833 December 31, 2014 Impaired Loans Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial and industrial $ 1,146 $ 1,145 $ - Real estate - construction 2,707 2,705 - Real estate - mortgage: Residential 2,202 2,197 - Commercial 4,064 4,060 - Total $ 10,119 $ 10,107 $ - With an allowance recorded: Commercial and industrial $ 247 $ 247 $ 83 Real estate - construction 589 589 589 Real estate - mortgage: Residential 2,981 2,978 892 Commercial 426 426 30 Consumer installment 6 6 2 Total $ 4,249 $ 4,246 $ 1,596 Total: Commercial and industrial $ 1,393 $ 1,392 $ 83 Real estate - construction 3,296 3,294 589 Real estate - mortgage: Residential 5,183 5,175 892 Commercial 4,490 4,486 30 Consumer installment 6 6 2 Total $ 14,368 $ 14,353 $ 1,596 |
Schedule of Additional Information Related to Impaired Loans [Table Text Block] | As of December 31, 2015 As of December 31, 2014 As of December 31, 2013 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial and industrial $ 1,468 $ 100 $ 1,989 $ 85 $ 2,187 $ 119 Real estate - construction 2,407 115 3,631 154 3,743 183 Real estate - mortgage: Residential 4,356 160 5,331 171 5,380 293 Commercial 5,203 350 5,998 229 6,500 493 Consumer installment 6 - 11 1 13 1 Total $ 13,440 $ 725 $ 16,960 $ 640 $ 17,824 $ 1,090 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | December 31, 2015 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 6 - 6 $ 434 $ 434 Real estate construction 1 - 1 181 181 Residential real estate 5 1 6 515 535 Commercial real estate 1 - 1 270 270 December 31, 2014 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Residential real estate 3 - 3 $ 140 $ 140 Commercial real estate 1 - 1 48 48 Consumer 1 - 1 6 6 December 31, 2013 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 6 1 7 $ 1,264 $ 1,264 Residential real estate 7 - 7 784 784 Commercial real estate 2 - 2 834 834 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Special Mention Substandard Doubtful Total Loans December 31, 2015 Commercial and industrial $ 40,560 $ 242 $ 1,734 $ - $ 42,536 Real estate - construction 22,007 - - 130 22,137 Real estate - mortgage: Residential 225,945 728 5,805 - 232,478 Commercial 219,331 4,327 8,043 - 231,701 Consumer installment 4,854 - 4 - 4,858 Total $ 512,697 $ 5,297 $ 15,586 $ 130 $ 533,710 Pass Special Mention Substandard Doubtful Total Loans December 31, 2014 Commercial and industrial $ 33,160 $ - $ 1,730 $ 38 $ 34,928 Real estate - construction 29,212 495 - 589 30,296 Real estate - mortgage: Residential 200,928 584 8,584 - 210,096 Commercial 180,899 3,908 5,878 - 190,685 Consumer installment 4,572 - 7 - 4,579 Total $ 448,759 $ 4,987 $ 16,211 $ 627 $ 470,584 |
Past Due Financing Receivables [Table Text Block] | Current 30-59 Days Past Due 60-89 Days Past Due 90 Days+ Past Due Total Past Due Total Loans December 31, 2015 Commercial and industrial $ 41,544 $ 225 $ 26 $ 741 $ 992 $ 42,536 Real estate - construction 22,137 - - - - 22,137 Real estate - mortgage: Residential 229,725 1,482 92 1,179 2,753 232,478 Commercial 230,903 189 - 609 798 231,701 Consumer installment 4,837 16 3 2 21 4,858 Total $ 529,146 $ 1,912 $ 121 $ 2,531 $ 4,564 $ 533,710 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days+ Past Due Total Past Due Total Loans December 31, 2014 Commercial and industrial $ 34,480 $ 349 $ 68 $ 31 $ 448 $ 34,928 Real estate - construction 30,296 - - - - 30,296 Real estate - mortgage: Residential 205,753 2,065 363 1,915 4,343 210,096 Commercial 190,088 30 - 567 597 190,685 Consumer installment 4,547 27 3 2 32 4,579 Total $ 465,164 $ 2,471 $ 434 $ 2,515 $ 5,420 $ 470,584 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | Nonaccrual 90+ Days Past Due and Accruing December 31, 2015 Commercial and industrial $ 1,450 $ - Real estate - construction 130 - Real estate - mortgage: Residential 4,122 - Commercial 1,842 - Consumer installment 1 2 Total $ 7,545 $ 2 Nonaccrual 90+ Days Past Due and Accruing December 31, 2014 Commercial and industrial $ 365 $ - Real estate - construction 587 - Real estate - mortgage: Residential 5,310 165 Commercial 1,083 - Consumer installment 2 - Total $ 7,347 $ 165 |
Subsequently Defaulted [Member] | |
Note 4 - Loans and Related Allowance for Loan Losses (Tables) [Line Items] | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | December 31, 2015 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 2 $ 14 Real estate construction 1 130 December 31, 2014 Troubled Debt Restructurings Number of Contracts Recorded Investment Residential real estate 1 $ 15 December 31, 2013 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 5 $ 574 Commercial real estate 1 190 |
Note 6 - Premises and Equipme34
Note 6 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | 2015 2014 Land and land improvements $ 1,943 $ 1,943 Building and leasehold improvements 11,414 11,133 Furniture, fixtures, and equipment 4,853 4,637 18,210 17,713 Less accumulated depreciation and amortization 8,438 7,733 Total $ 9,772 $ 9,980 |
Note 8 - Other Assets (Tables)
Note 8 - Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Other Assets [Table Text Block] | (Dollar amounts in thousands) 2015 2014 FHLB stock $ 1,887 $ 1,887 Accrued interest on investment securities 1,010 1,005 Accrued interest on loans 1,377 1,090 Deferred tax asset, net 959 1,484 Other 2,244 1,579 Total $ 7,477 $ 7,045 |
Note 10 - Short-term Borrowin36
Note 10 - Short-term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Short-term Debt [Table Text Block] | 2015 2014 Balance at year-end $ 35,825 $ 14,808 Average balance outstanding 11,768 8,379 Maximum month-end balance 35,825 19,970 Weighted-average rate at year-end 1.37 % 0.98 % Weighted-average rate during the year 1.65 % 1.77 % |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) Accounted for as Secured Borrowings Overnight and Continuous December 31, 2015 December 31, 2014 Repurchase agreements: U.S. Government agency securities $ 1,052 $ 1,090 Mortgage-backed securities in government-sponsored entities 1,877 2,091 $ 2,929 $ 3,181 |
Note 11 - Other Borrowings (Tab
Note 11 - Other Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Borrowings [Abstract] | |
Schedule of Debt [Table Text Block] | (Dollar amounts in thousands) Maturity range Weighted- average Stated interest rate range from to interest rate from to 2015 2014 Fixed-rate amortizing 07/01/17 10/01/28 4.02 % 2.99 % 4.47 % $ 1,691 $ 2,376 Junior subordinated debt 12/21/37 12/21/37 1.95 % 1.90 1.99 8,248 8,248 Total $ 9,939 $ 10,624 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (Dollar amounts in thousands) Year Ending December 31, Amount Weighted- Average Rate 2016 502 4.00 % 2017 373 4.00 % 2018 252 4.02 % 2019 155 4.04 % 2020 116 4.04 % Beyond 2020 8,542 1.51 % Total $ 9,939 1.84 % |
Note 12 - Other Liabilities (Ta
Note 12 - Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | |
Other Liabilities [Table Text Block] | 2015 2014 (Dollar amounts in thousands) Accrued interest payable $ 395 $ 315 Supplemental Executive Retirement Plan 1,091 828 Accrued salary expense 689 609 Other 449 368 Total $ 2,624 $ 2,120 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2015 2014 2013 Current payable $ 1,004 $ 2,146 $ 1,556 Deferred 558 (154 ) 423 Total provision $ 1,562 $ 1,992 $ 1,979 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (Dollar amounts in thousands) 2015 2014 Deferred tax assets: Allowance for loan and lease losses $ 2,171 $ 2,328 Supplemental retirement plan 371 282 Investment security basis adjustment 66 66 Nonaccrual interest income 415 444 Deferred origination fees, net 12 295 OREO adjustments 92 94 Accrued compensation 234 207 Other 23 14 Gross deferred tax assets 3,384 3,730 Deferred tax liabilities: Premises and equipment 514 385 Net unrealized gain on securities 1,233 1,311 FHLB stock dividends 225 225 Intangibles 401 353 Mortgage servicing rights 68 - Other 44 77 Gross deferred tax liabilities 2,485 2,351 Net deferred tax assets $ 899 $ 1,379 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (Dollar amounts in thousands) 2015 2014 2013 Amount % of Pretax Income Amount % of Pretax Income Amount % of Pretax Income Provision at statutory rate $ 2,866 34.0 % $ 3,119 34.0 % $ 3,062 34.0 % Tax-free income (1,347 ) (15.9 ) (1,187 ) (12.9 ) (1,138 ) (12.6 ) Nondeductible interest expense 34 0.4 37 0.4 45 0.5 Other 9 0.0 23 0.2 10 0.1 Actual tax expense and effective rate $ 1,562 18.5 % $ 1,992 21.7 % $ 1,979 22.0 % |
Note 14 - Employee Benefits (Ta
Note 14 - Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | Projected Payments 2016 $ 29,000 2017 23,000 2018 18,000 2019 12,000 2020 10,000 2021 2,000 Total $ 94,000 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 2015 Weighted- average Exercise Price 2014 Weighted- average Exercise Price $ 46,451 $ 27.90 $ 58,581 $ 28.38 Expired (10,802 ) 36.93 - - Exercised (2,175 ) 21.31 (11,223 ) 30.45 Forfeited (1,525 ) 33.53 (907 ) 27.35 Outstanding, December 31 $ 31,949 $ 25.03 $ 46,451 $ 27.90 Exercisable, December 31 $ 31,949 $ 25.03 $ 46,451 $ 27.90 |
Schedule of Other Share-based Compensation, Activity [Table Text Block] | Outstanding Exercisable Grant Date Exercise Price Shares Contractual Average Life Average Exercise Price Shares Average Exercise Price December 10, 2006 40.24 2,625 0.94 40.24 2,625 40.24 May 16, 2007 37.48 1,337 1.37 37.48 1,337 37.48 December 10, 2007 37.00 1,950 1.94 37.00 1,950 37.00 January 2, 2008 36.25 1,337 2.00 36.25 1,337 36.25 November 10, 2008 23.00 16,500 2.86 23.00 16,500 23.00 May 9, 2011 17.55 8,200 5.35 17.55 8,200 17.55 31,949 31,949 |
Note 15 - Commitments (Tables)
Note 15 - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Commitments [Table Text Block] | 2015 2014 Commitments to extend credit $ 112,134 $ 97,947 Standby letters of credit 4,404 4,514 Total $ 116,538 $ 102,461 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2016 $ 285 2017 293 2018 294 2019 289 2020 301 Thereafter 2,055 $ 3,517 |
Note 17 - Regulatory Capital (T
Note 17 - Regulatory Capital (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | As of December 31, 2015 Leverage Tier 1 Risk Based Common Equity Tier 1 Total Risk Based The Middlefield Banking Company 9.23 % 12.52 % 12.52 % 13.73 % Middlefield Banc Corp. 8.69 % 12.00 % 12.00 % 13.20 % Adequately capitalized ratio 4.00 % 6.00 % 4.50 % 8.00 % Adequately capitalized ratio plus capital conservation buffer 4.00 % 8.50 % 7.00 % 10.50 % Well-capitalized ratio (Bank only) 5.00 % 8.00 % 6.50 % 10.00 % As of December 31, 2014 Leverage Tier 1 Risk Based Total Risk Based The Middlefield Banking Company 9.25 % 12.95 % 14.19 % Middlefield Banc Corp. 9.60 % 13.38 % 14.64 % Adequately capitalized ratio 4.00 % 4.00 % 8.00 % Well-capitalized ratio (Bank only) 5.00 % 6.00 % 10.00 % |
Note 18 - Fair Value Measurem43
Note 18 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2015 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 21,629 $ - $ 21,629 Obligations of states and political subdivisions - 97,290 - 97,290 Mortgage-backed securities in government-sponsored entities - 24,524 - 24,524 Private-label mortgage-backed securities - 2,263 - 2,263 Total debt securities - 145,706 - 145,706 Equity securities in financial institutions - 814 - 814 Total $ - $ 146,520 $ - $ 146,520 December 31, 2014 Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 22,896 $ - $ 22,896 Obligations of states and political subdivisions - 98,345 - 98,345 Mortgage-backed securities in government-sponsored entities - 29,391 - 29,391 Private-label mortgage-backed securities - 2,919 - 2,919 Total debt securities - 153,551 - 153,551 Equity securities in financial institutions - 783 - 783 Total $ - $ 154,334 $ - $ 154,334 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | December 31, 2015 Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 12,848 $ 12,848 Other real estate owned - - 1,412 1,412 December 31, 2014 Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 12,772 $ 12,772 Other real estate owned - - 2,590 2,590 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2015 Impaired loans $ 6,867 Discounted cash flow Discount rate 3.1% to 7.9% (5.0%) 5,981 Appraisal of collateral (1) Appraisal adjustments (2) 0.0% to 87.1% (23.3%) Other real estate owned $ 1,412 Appraisal of collateral (1) Appraisal 0.0% to 10.0% (7.3%) Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2014 Impaired loans $ 12,772 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 84.6% (25.5%) Other real estate owned $ 2,590 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 10.0% (7.5%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2015 Carrying Value Level I Level II Level III Total Fair Value (in thousands) Financial assets: Cash and cash equivalents $ 23,750 $ 23,750 $ - $ - $ 23,750 Investment securities available for sale 146,520 - 146,520 - 146,520 Loans held for sale 1,107 - 1,107 - 1,107 Net loans 527,325 - - 534,021 534,021 Bank-owned life insurance 13,141 13,141 - - 13,141 Federal Home Loan Bank stock 1,887 1,887 - - 1,887 Accrued interest receivable 2,387 2,387 - - 2,387 Financial liabilities: Deposits $ 624,447 $ 433,226 $ - $ 191,747 $ 624,973 Short-term borrowings 35,825 35,825 - - 35,825 Other borrowings 9,939 - 10,063 10,063 Accrued interest payable 395 395 - - 395 December 31, 2014 Carrying Value Level I Level II Level III Total Fair Value (in thousands) Financial assets: Cash and cash equivalents $ 25,639 $ 25,639 $ - $ - $ 25,639 Investment securities available for sale 154,334 - 154,334 - 154,334 Loans held for sale 438 - 438 - 438 Net loans 463,738 - - 475,019 475,019 Bank-owned life insurance 9,092 9,092 - - 9,092 Federal Home Loan Bank stock 1,887 1,887 - - 1,887 Accrued interest receivable 2,095 2,095 - - 2,095 Financial liabilities: Deposits $ 586,112 $ 416,254 $ - $ 170,542 $ 586,796 Short-term borrowings 14,808 14,808 - - 14,808 Other borrowings 10,624 - 10,822 10,822 Accrued interest payable 315 315 - - 315 |
Note 19 - Accumulated Other C44
Note 19 - Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Unrealized gains on available-for-sale securities (a) Balance as of December 31, 2014 $ 2,548 Other comprehensive income before reclassification 60 Amount reclassified from accumulated other comprehensive income (213 ) Period change (153 ) Balance at December 31, 2015 $ 2,395 (Dollars in thousands) Unrealized gains on available for sale securities (a) Balance as of December 31, 2013 $ (2,237 ) Other comprehensive income before reclassification 4,949 Amount reclassified from accumulated other comprehensive income (164 ) Period change 4,785 Balance at December 31, 2014 $ 2,548 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | Amount Reclassified from Accumulated Other Affected Line Item in the Statement Where (Dollars in thousands) Comprehensive Income (a) Net Income is Details about other comprehensive income December 31, 2015 Presented Unrealized gains on available-for-sale securities $ 323 Investment securities gains, net (110 ) Income taxes $ 213 Net of tax Amount Reclassified from Accumulated Other Affected Line Item in the Statement Where (Dollars in thousands) Comprehensive Income (a) Net Income is Details about other comprehensive income December 31, 2014 Presented Unrealized gains on available-for-sale securities $ 248 Investment securities gains, net (84 ) Income taxes $ 164 Net of tax |
Note 20 - Parent Company (Table
Note 20 - Parent Company (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | (Dollar amounts in thousands) December 31, 2015 2014 ASSETS Cash and due from banks $ 1,329 $ 466 Investment securities available for sale 814 783 Investment in nonbank subsidiary 2,418 2,534 Investment in subsidiary bank 73,061 69,514 Other assets 2,475 1,981 TOTAL ASSETS $ 80,097 $ 75,278 LIABILITIES Trust preferred securities $ 8,248 $ 8,248 Short-term borrowings 9,499 3,136 Other liabilities 43 27 TOTAL LIABILITIES 17,790 11,411 STOCKHOLDERS' EQUITY 62,307 63,867 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 80,097 $ 75,278 |
Condensed Income Statement [Table Text Block] | Year Ended December 31, (Dollar amounts in thousands) 2015 2014 2013 INCOME Dividends from subsidiary bank $ 4,023 $ 3,142 $ 2,198 Other 19 8 5 Total income 4,042 3,150 2,203 EXPENSES Interest expense 290 304 361 Other 860 816 475 Total expenses 1,150 1,120 836 Income before income tax benefit 2,892 2,030 1,367 Income tax benefit (386 ) (378 ) (283 ) Income before equity in undistributed net income of subsidiaries 3,278 2,408 1,650 Equity in undistributed net income of subsidiaries 3,587 4,772 5,378 NET INCOME $ 6,865 $ 7,180 $ 7,028 Comprehensive Income (Loss) $ 6,712 $ 11,965 $ (600 ) |
Condensed Cash Flow Statement [Table Text Block] | Year Ended December 31, (Dollar amounts in thousands) 2015 2014 2013 OPERATING ACTIVITIES Net income $ 6,865 $ 7,180 $ 7,028 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of Middlefield Banking Company (3,703 ) (4,798 ) (4,884 ) Equity in undistributed net income of Emerald Bank - - (598 ) Equity in undistributed net loss of EMORECO 116 26 104 Stock-based compensation expense 18 10 - Other (503 ) (409 ) (253 ) Net cash provided by operating activities 2,793 2,009 1,397 FINANCING ACTIVITIES Net increase (decrease) in short-term borrowings 6,363 (759 ) (976 ) Purchase of treasury stock (6,784 ) - - Common stock issued - - 74 Stock options exercised (7 ) (50 ) (77 ) Proceeds from dividend reinvestment plan 651 590 736 Cash dividends (2,153 ) (2,121 ) (2,097 ) Net cash used for financing activities (1,930 ) (2,340 ) (2,340 ) Increase (decrease) in cash 863 (331 ) (943 ) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 466 797 1,740 CASH AND CASH EQUIVALENTS $ 1,329 $ 466 $ 797 |
Note 21 - Selected Quarterly 46
Note 21 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | (Dollar amounts in thousands) Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Total interest income $ 7,035 $ 7,066 $ 7,151 $ 7,343 Total interest expense 883 990 959 988 Net interest income 6,152 6,076 6,192 6,355 Provision for loan losses 105 - 105 105 Net interest income after provision for loan losses 6,047 6,076 6,087 6,250 Total noninterest income 796 962 1,108 1,178 Total noninterest expense 4,811 5,217 4,669 5,380 Income before income taxes 2,032 1,821 2,526 2,048 Income taxes 404 316 544 298 Net income $ 1,628 $ 1,505 $ 1,982 $ 1,750 Per share data: Net income Basic $ 0.79 $ 0.73 $ 0.96 $ 0.93 Diluted 0.78 0.73 0.96 0.92 Average shares outstanding: Basic 2,053,660 2,058,986 2,064,054 1,884,484 Diluted 2,062,867 2,068,313 2,072,639 1,893,345 (Dollar amounts in thousands) Three Months Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Total interest income $ 6,989 $ 6,919 $ 6,911 $ 7,055 Total interest expense 1,033 1,033 999 1,005 Net interest income 5,956 5,886 5,912 6,050 Provision for loan losses 180 120 70 - Net interest income after provision for loan losses 5,776 5,766 5,842 6,050 Total noninterest income 715 857 990 1,026 Total noninterest expense 4,229 4,598 4,385 4,638 Income before income taxes 2,262 2,025 2,447 2,438 Income taxes 499 414 529 550 Net income $ 1,763 $ 1,611 $ 1,918 $ 1,888 Per share data: Net income Basic $ 0.87 $ 0.79 $ 0.94 $ 0.92 Diluted 0.86 0.79 0.93 0.92 Average shares outstanding: Basic 2,033,480 2,038,026 2,044,124 2,049,536 Diluted 2,039,515 2,044,564 2,052,012 2,059,561 |
Note 1 -Summary of Significan47
Note 1 -Summary of Significant Accounting Policies (Details) | 12 Months Ended | ||
Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($)shares | |
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Number of Branches | 10 | ||
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | shares | 2,175 | 11,223 | |
Payments for Stock Options Exercised | $ 7,000 | $ 50,000 | 77,000 |
Employee Stock Option [Member] | |||
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Allocated Share-based Compensation Expense | $ 0 | $ 0 | $ 0 |
Restricted Stock [Member] | |||
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in Shares) | shares | 585 | 0 | 0 |
Core Deposits [Member] | |||
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Minimum [Member] | Furniture, Fixtures, and Equipment [Member] | |||
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Minimum [Member] | Building and Building Improvements [Member] | |||
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Maximum [Member] | Furniture, Fixtures, and Equipment [Member] | |||
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 20 years | ||
Maximum [Member] | Building and Building Improvements [Member] | |||
Note 1 -Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 40 years |
Note 2 - Earnings Per Share (De
Note 2 - Earnings Per Share (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 2 - Earnings Per Share (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 31,949 | 46,451 | 58,581 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 17.55 | $ 17.55 | $ 17.55 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 40.24 | $ 40.24 | $ 40.24 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 9,154 | 7,871 | 7,178 |
Employee Stock Option [Member] | |||
Note 2 - Earnings Per Share (Details) [Line Items] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 27,250 | 28,282 | 39,808 |
Note 2 - Earnings Per Share (49
Note 2 - Earnings Per Share (Details) - Shares Used in Calculation of Earnings Per Share - shares | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Shares Used in Calculation of Earnings Per Share [Abstract] | |||||||||||
Weighted-average common shares outstanding | 2,251,365 | 2,231,165 | 2,206,392 | ||||||||
Average treasury stock shares | (236,399) | (189,530) | (189,530) | ||||||||
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share | 1,884,484 | 2,064,054 | 2,058,986 | 2,053,660 | 2,049,536 | 2,044,124 | 2,038,026 | 2,033,480 | 2,014,966 | 2,041,635 | 2,016,862 |
Additional common stock equivalents used to calculate diluted earnings per share | 9,154 | 7,871 | 7,178 | ||||||||
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 1,893,345 | 2,072,639 | 2,068,313 | 2,062,867 | 2,059,561 | 2,052,012 | 2,044,564 | 2,039,515 | 2,024,120 | 2,049,506 | 2,024,040 |
Note 3 - Investment Securitie50
Note 3 - Investment Securities Available for Sale (Details) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Investments, Debt and Equity Securities [Abstract] | ||
Available-for-sale Securities Pledged as Collateral | $ 68,800,000 | $ 61,900,000 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 46 | |
Available-for-sale Securities, Percentage of Portfolio | 97.90% | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | $ 0 |
Note 3 - Investment Securitie51
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | $ 142,893 | $ 150,476 |
Gross unrealized gains | 4,345 | 5,095 |
Gross unrealized losses | (718) | (1,237) |
Investment securities available for sale, at fair value | 146,520 | 154,334 |
US Government Agencies Debt Securities [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | 21,655 | 23,035 |
Gross unrealized gains | 245 | 311 |
Gross unrealized losses | (271) | (450) |
Investment securities available for sale, at fair value | 21,629 | 22,896 |
US States and Political Subdivisions Debt Securities [Member] | Taxable [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | 1,989 | 2,953 |
Gross unrealized gains | 134 | 226 |
Gross unrealized losses | 0 | 0 |
Investment securities available for sale, at fair value | 2,123 | 3,179 |
US States and Political Subdivisions Debt Securities [Member] | Tax-exempt [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | 91,940 | 91,916 |
Gross unrealized gains | 3,402 | 3,803 |
Gross unrealized losses | (175) | (553) |
Investment securities available for sale, at fair value | 95,167 | 95,166 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | 24,480 | 29,150 |
Gross unrealized gains | 316 | 475 |
Gross unrealized losses | (272) | (234) |
Investment securities available for sale, at fair value | 24,524 | 29,391 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | 2,079 | 2,672 |
Gross unrealized gains | 184 | 247 |
Gross unrealized losses | 0 | 0 |
Investment securities available for sale, at fair value | 2,263 | 2,919 |
Debt Securities [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | 142,143 | 149,726 |
Gross unrealized gains | 4,281 | 5,062 |
Gross unrealized losses | (718) | (1,237) |
Investment securities available for sale, at fair value | 145,706 | 153,551 |
Equity Securities in Financial Institutions [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | 750 | 750 |
Gross unrealized gains | 64 | 33 |
Gross unrealized losses | 0 | 0 |
Investment securities available for sale, at fair value | $ 814 | $ 783 |
Note 3 - Investment Securitie52
Note 3 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity $ in Thousands | Dec. 31, 2015USD ($) |
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity [Abstract] | |
Due in one year or less | $ 1,139 |
Due in one year or less | 1,153 |
Due after one year through five years | 10,790 |
Due after one year through five years | 10,890 |
Due after five years through ten years | 19,172 |
Due after five years through ten years | 19,830 |
Due after ten years | 111,042 |
Due after ten years | 113,833 |
Total | 142,143 |
Total | $ 145,706 |
Note 3 - Investment Securitie53
Note 3 - Investment Securities Available for Sale (Details) - Sales of Available for Sale Securities - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Sales of Available for Sale Securities [Abstract] | |||
Proceeds from sales | $ 15,686 | $ 8,383 | $ 25,088 |
Gross realized gains | 440 | 306 | 186 |
Gross realized losses | $ (117) | $ (58) | $ (175) |
Note 3 - Investment Securitie54
Note 3 - Investment Securities Available for Sale (Details) - Gross Unrealized Losses and Fair Value - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 3 - Investment Securities Available for Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ||
Less than Twelve Months, Fair Value | $ 13,811 | $ 2,406 |
Less than Twelve Months, Gross Unrealized Losses | (152) | (10) |
Twelve Months or Greater, Fair Value | 26,951 | 50,740 |
Twelve Months or Greater, Gross Unrealized Losses | (566) | (1,227) |
Total, Fair Value | 40,762 | 53,146 |
Total, Gross Unrealized Losses | (718) | (1,237) |
US Government Agencies Debt Securities [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ||
Less than Twelve Months, Fair Value | 3,818 | 0 |
Less than Twelve Months, Gross Unrealized Losses | (57) | 0 |
Twelve Months or Greater, Fair Value | 10,872 | 15,734 |
Twelve Months or Greater, Gross Unrealized Losses | (214) | (450) |
Total, Fair Value | 14,690 | 15,734 |
Total, Gross Unrealized Losses | (271) | (450) |
US States and Political Subdivisions Debt Securities [Member] | Tax-exempt [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ||
Less than Twelve Months, Fair Value | 1,268 | 2,406 |
Less than Twelve Months, Gross Unrealized Losses | (9) | (10) |
Twelve Months or Greater, Fair Value | 9,394 | 18,232 |
Twelve Months or Greater, Gross Unrealized Losses | (166) | (543) |
Total, Fair Value | 10,662 | 20,638 |
Total, Gross Unrealized Losses | (175) | (553) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 3 - Investment Securities Available for Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ||
Less than Twelve Months, Fair Value | 8,725 | 0 |
Less than Twelve Months, Gross Unrealized Losses | (86) | 0 |
Twelve Months or Greater, Fair Value | 6,685 | 16,774 |
Twelve Months or Greater, Gross Unrealized Losses | (186) | (234) |
Total, Fair Value | 15,410 | 16,774 |
Total, Gross Unrealized Losses | $ (272) | $ (234) |
Note 4 - Loans and Related Al55
Note 4 - Loans and Related Allowance for Loan Losses (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Number of Days Past Due | 90 years | ||
Financing Receivable, Modifications, Recorded Investment | $ 3,100,000 | $ 2,900,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 259,000 | $ 207,000 | $ 439,000 |
Threshold for Loans Evaluated for Impairement [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Notes, Loans and Financing Receivable, Gross, Current | 150,000 | ||
Threshold for Loans Evaluated for Impairment [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 1,000,000 | ||
Threshold for Loans Evaluated for Impairment [Member] | Outside Consultant [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Loans and Leases Receivable, Gross, Commercial | 250,000 | ||
Threshold for Loans Evaluated for Impairment [Member] | Criticized Relationships [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Gross | 125,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | 300,000 | ||
Real Estate Construction Porfolio Segment [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 400,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Increase in Portfolio, Percent | 21.50% |
Note 4 - Loans and Related Al56
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Net Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable Gross | $ 533,710 | $ 470,584 | ||
Less allowance for loan and lease losses | (6,385) | (6,846) | $ (7,046) | $ (7,779) |
Net loans | 527,325 | 463,738 | ||
Commercial and Industrial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable Gross | 42,536 | 34,928 | ||
Less allowance for loan and lease losses | (867) | (642) | (614) | (1,732) |
Real Estate Construction Porfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable Gross | 22,137 | 30,296 | ||
Less allowance for loan and lease losses | (276) | (868) | (576) | (1,123) |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable Gross | 232,478 | 210,096 | ||
Less allowance for loan and lease losses | (3,139) | (3,703) | (3,664) | (2,872) |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable Gross | 231,701 | 190,685 | ||
Less allowance for loan and lease losses | (2,078) | (1,576) | (2,170) | (1,991) |
Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable Gross | 4,858 | 4,579 | ||
Less allowance for loan and lease losses | $ (25) | $ (57) | $ (22) | $ (61) |
Note 4 - Loans and Related Al57
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Primary Segments of the Loan Portfolio - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Loans: | ||
Individually evaluated for impairment | $ 13,681 | $ 14,368 |
Collectively evaluated for impairment | 520,029 | 456,216 |
Total loans | 533,710 | 470,584 |
Commercial and Industrial [Member] | ||
Loans: | ||
Individually evaluated for impairment | 1,808 | 1,393 |
Collectively evaluated for impairment | 40,728 | 33,535 |
Total loans | 42,536 | 34,928 |
Real Estate Construction Porfolio Segment [Member] | ||
Loans: | ||
Individually evaluated for impairment | 1,787 | 3,296 |
Collectively evaluated for impairment | 20,350 | 27,000 |
Total loans | 22,137 | 30,296 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Loans: | ||
Individually evaluated for impairment | 3,881 | 5,183 |
Collectively evaluated for impairment | 228,597 | 204,913 |
Total loans | 232,478 | 210,096 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans: | ||
Individually evaluated for impairment | 6,199 | 4,490 |
Collectively evaluated for impairment | 225,502 | 186,195 |
Total loans | 231,701 | 190,685 |
Consumer Portfolio Segment [Member] | ||
Loans: | ||
Individually evaluated for impairment | 6 | 6 |
Collectively evaluated for impairment | 4,852 | 4,573 |
Total loans | $ 4,858 | $ 4,579 |
Note 4 - Loans and Related Al58
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Allowance for Loan Losses - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | |
Ending allowance balance attributable to loans: | |||||||||||
Individually evaluated for impairment | $ 833 | $ 1,596 | |||||||||
Collectively evaluated for impairment | 5,552 | 5,250 | |||||||||
Total ending allowance balance | $ 6,385 | $ 6,846 | $ 7,046 | $ 6,385 | $ 6,846 | $ 7,046 | 6,385 | 6,846 | |||
Ending allowance balance attributable to loans: | |||||||||||
ALLL balance, period start | 6,846 | 7,046 | 6,846 | 7,046 | 7,779 | ||||||
Charge-offs | (1,197) | (1,212) | (1,330) | ||||||||
Recoveries | 421 | 642 | 401 | ||||||||
Provision | 105 | $ 105 | 105 | $ 70 | $ 120 | 180 | 315 | 370 | 196 | ||
ALLL balance, period end | 6,385 | 6,385 | 6,846 | 7,046 | |||||||
Commercial and Industrial [Member] | |||||||||||
Ending allowance balance attributable to loans: | |||||||||||
Individually evaluated for impairment | 388 | 83 | |||||||||
Collectively evaluated for impairment | 479 | 559 | |||||||||
Total ending allowance balance | 867 | 642 | 614 | 867 | 642 | 614 | 867 | 642 | |||
Ending allowance balance attributable to loans: | |||||||||||
ALLL balance, period start | 642 | 614 | 642 | 614 | 1,732 | ||||||
Charge-offs | (280) | (237) | (419) | ||||||||
Recoveries | 207 | 121 | 191 | ||||||||
Provision | 298 | 144 | (890) | ||||||||
ALLL balance, period end | 867 | 867 | 642 | 614 | |||||||
Real Estate Construction Porfolio Segment [Member] | |||||||||||
Ending allowance balance attributable to loans: | |||||||||||
Individually evaluated for impairment | 130 | 589 | |||||||||
Collectively evaluated for impairment | 146 | 279 | |||||||||
Total ending allowance balance | 276 | 868 | 576 | 276 | 868 | 576 | 276 | 868 | |||
Ending allowance balance attributable to loans: | |||||||||||
ALLL balance, period start | 868 | 576 | 868 | 576 | 1,123 | ||||||
Charge-offs | (385) | 0 | (191) | ||||||||
Recoveries | 0 | 60 | 33 | ||||||||
Provision | (207) | 232 | (389) | ||||||||
ALLL balance, period end | 276 | 276 | 868 | 576 | |||||||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||||||||||
Ending allowance balance attributable to loans: | |||||||||||
Individually evaluated for impairment | 276 | 892 | |||||||||
Collectively evaluated for impairment | 2,863 | 2,811 | |||||||||
Total ending allowance balance | 3,139 | 3,703 | 3,664 | 3,139 | 3,703 | 3,664 | 3,139 | 3,703 | |||
Ending allowance balance attributable to loans: | |||||||||||
ALLL balance, period start | 3,703 | 3,664 | 3,703 | 3,664 | 2,872 | ||||||
Charge-offs | (425) | (671) | (675) | ||||||||
Recoveries | 186 | 267 | 107 | ||||||||
Provision | (325) | 443 | 1,360 | ||||||||
ALLL balance, period end | 3,139 | 3,139 | 3,703 | 3,664 | |||||||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | |||||||||||
Ending allowance balance attributable to loans: | |||||||||||
Individually evaluated for impairment | 39 | 30 | |||||||||
Collectively evaluated for impairment | 2,039 | 1,546 | |||||||||
Total ending allowance balance | 2,078 | 1,576 | 2,170 | 2,078 | 1,576 | 2,170 | 2,078 | 1,576 | |||
Ending allowance balance attributable to loans: | |||||||||||
ALLL balance, period start | 1,576 | 2,170 | 1,576 | 2,170 | 1,991 | ||||||
Charge-offs | (92) | (260) | 0 | ||||||||
Recoveries | 5 | 40 | 46 | ||||||||
Provision | 589 | (374) | 133 | ||||||||
ALLL balance, period end | 2,078 | 2,078 | 1,576 | 2,170 | |||||||
Consumer Portfolio Segment [Member] | |||||||||||
Ending allowance balance attributable to loans: | |||||||||||
Individually evaluated for impairment | 0 | 2 | |||||||||
Collectively evaluated for impairment | 25 | 55 | |||||||||
Total ending allowance balance | 25 | 57 | 22 | 25 | 57 | 22 | $ 25 | $ 57 | |||
Ending allowance balance attributable to loans: | |||||||||||
ALLL balance, period start | $ 57 | $ 22 | 57 | 22 | 61 | ||||||
Charge-offs | (15) | (44) | (45) | ||||||||
Recoveries | 23 | 154 | 24 | ||||||||
Provision | (40) | (75) | (18) | ||||||||
ALLL balance, period end | $ 25 | $ 25 | $ 57 | $ 22 |
Note 4 - Loans and Related Al59
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Impaired Loans by Class - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
With an allowance recorded: | ||
Recorded investment, with related allowance | $ 6,215 | $ 4,249 |
Unpaid principal balance, with related allowance | 6,199 | 4,246 |
Related allowance | 833 | 1,596 |
Total: | ||
Recorded investment | 13,681 | 14,368 |
Unpaid principal balance | 13,653 | 14,353 |
Related allowance | 833 | 1,596 |
Commercial and Industrial [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 1,027 | 1,146 |
Unpaid principal balance, with no related allowance | 1,025 | 1,145 |
With an allowance recorded: | ||
Recorded investment, with related allowance | 781 | 247 |
Unpaid principal balance, with related allowance | 781 | 247 |
Related allowance | 388 | 83 |
Total: | ||
Recorded investment | 1,808 | 1,393 |
Unpaid principal balance | 1,806 | 1,392 |
Related allowance | 388 | 83 |
Real Estate Construction Porfolio Segment [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 1,657 | 2,707 |
Unpaid principal balance, with no related allowance | 1,651 | 2,705 |
With an allowance recorded: | ||
Recorded investment, with related allowance | 130 | 589 |
Unpaid principal balance, with related allowance | 130 | 589 |
Related allowance | 130 | 589 |
Total: | ||
Recorded investment | 1,787 | 3,296 |
Unpaid principal balance | 1,781 | 3,294 |
Related allowance | 130 | 589 |
Real Estate Mortgage Portfolio Segment [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 7,466 | 10,119 |
Unpaid principal balance, with no related allowance | 7,454 | 10,107 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 2,445 | 2,202 |
Unpaid principal balance, with no related allowance | 2,443 | 2,197 |
With an allowance recorded: | ||
Recorded investment, with related allowance | 1,436 | 2,981 |
Unpaid principal balance, with related allowance | 1,436 | 2,978 |
Related allowance | 276 | 892 |
Total: | ||
Recorded investment | 3,881 | 5,183 |
Unpaid principal balance | 3,879 | 5,175 |
Related allowance | 276 | 892 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 2,337 | 4,064 |
Unpaid principal balance, with no related allowance | 2,335 | 4,060 |
With an allowance recorded: | ||
Recorded investment, with related allowance | 3,862 | 426 |
Unpaid principal balance, with related allowance | 3,846 | 426 |
Related allowance | 39 | 30 |
Total: | ||
Recorded investment | 6,199 | 4,490 |
Unpaid principal balance | 6,181 | 4,486 |
Related allowance | 39 | 30 |
Consumer Portfolio Segment [Member] | ||
With an allowance recorded: | ||
Recorded investment, with related allowance | 6 | 6 |
Unpaid principal balance, with related allowance | 6 | 6 |
Related allowance | 0 | 2 |
Total: | ||
Recorded investment | 6 | 6 |
Unpaid principal balance | 6 | 6 |
Related allowance | $ 0 | $ 2 |
Note 4 - Loans and Related Al60
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans [Line Items] | |||
Average recorded investment | $ 13,440 | $ 16,960 | $ 17,824 |
Interest income recognized | 725 | 640 | 1,090 |
Commercial and Industrial [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans [Line Items] | |||
Average recorded investment | 1,468 | 1,989 | 2,187 |
Interest income recognized | 100 | 85 | 119 |
Real Estate Construction Porfolio Segment [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans [Line Items] | |||
Average recorded investment | 2,407 | 3,631 | 3,743 |
Interest income recognized | 115 | 154 | 183 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans [Line Items] | |||
Average recorded investment | 4,356 | 5,331 | 5,380 |
Interest income recognized | 160 | 171 | 293 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans [Line Items] | |||
Average recorded investment | 5,203 | 5,998 | 6,500 |
Interest income recognized | 350 | 229 | 493 |
Consumer Portfolio Segment [Member] | |||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans [Line Items] | |||
Average recorded investment | 6 | 11 | 13 |
Interest income recognized | $ 0 | $ 1 | $ 1 |
Note 4 - Loans and Related Al61
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Commercial and Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 6 | 7 | |
Pre-modification outstanding recorded investment (in Dollars) | $ 434 | $ 1,264 | |
Post-modification outstanding recorded investment (in Dollars) | $ 434 | $ 1,264 | |
Commercial and Industrial [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 6 | 6 | |
Commercial and Industrial [Member] | Other Restructurings [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Real Estate Construction Porfolio Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Pre-modification outstanding recorded investment (in Dollars) | $ 181 | ||
Post-modification outstanding recorded investment (in Dollars) | $ 181 | ||
Real Estate Construction Porfolio Segment [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 6 | 3 | 7 |
Pre-modification outstanding recorded investment (in Dollars) | $ 515 | $ 140 | $ 784 |
Post-modification outstanding recorded investment (in Dollars) | $ 535 | $ 140 | $ 784 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 5 | 3 | 7 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Other Restructurings [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 1 | 2 |
Pre-modification outstanding recorded investment (in Dollars) | $ 270 | $ 48 | $ 834 |
Post-modification outstanding recorded investment (in Dollars) | $ 270 | $ 48 | $ 834 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 1 | 2 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Pre-modification outstanding recorded investment (in Dollars) | $ 6 | ||
Post-modification outstanding recorded investment (in Dollars) | $ 6 | ||
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 |
Note 4 - Loans and Related Al62
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings Subsequently Defaulted $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Commercial and Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | 5 | |
Recorded investment | $ 14 | $ 574 | |
Real Estate Construction Porfolio Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Recorded investment | $ 130 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Recorded investment | $ 15 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Recorded investment | $ 190 |
Note 4 - Loans and Related Al63
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Credit Quality - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | $ 533,710 | $ 470,584 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 512,697 | 448,759 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 5,297 | 4,987 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 15,586 | 16,211 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 130 | 627 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 42,536 | 34,928 |
Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 40,560 | 33,160 |
Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 242 | 0 |
Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 1,734 | 1,730 |
Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 0 | 38 |
Real Estate Construction Porfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 22,137 | 30,296 |
Real Estate Construction Porfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 22,007 | 29,212 |
Real Estate Construction Porfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 0 | 495 |
Real Estate Construction Porfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 0 | 0 |
Real Estate Construction Porfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 130 | 589 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 232,478 | 210,096 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 225,945 | 200,928 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 728 | 584 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 5,805 | 8,584 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 231,701 | 190,685 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 219,331 | 180,899 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 4,327 | 3,908 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 8,043 | 5,878 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 4,858 | 4,579 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 4,854 | 4,572 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | 4 | 7 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, total | $ 0 | $ 0 |
Note 4 - Loans and Related Al64
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Past Due Financing Receivables - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | $ 529,146 | $ 465,164 |
Loans, past due | 4,564 | 5,420 |
Loans, total | 533,710 | 470,584 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 1,912 | 2,471 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 121 | 434 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 2,531 | 2,515 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 41,544 | 34,480 |
Loans, past due | 992 | 448 |
Loans, total | 42,536 | 34,928 |
Commercial and Industrial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 225 | 349 |
Commercial and Industrial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 26 | 68 |
Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 741 | 31 |
Real Estate Construction Porfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 22,137 | 30,296 |
Loans, past due | 0 | 0 |
Loans, total | 22,137 | 30,296 |
Real Estate Construction Porfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 0 | 0 |
Real Estate Construction Porfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 0 | 0 |
Real Estate Construction Porfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 229,725 | 205,753 |
Loans, past due | 2,753 | 4,343 |
Loans, total | 232,478 | 210,096 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 1,482 | 2,065 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 92 | 363 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 1,179 | 1,915 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 230,903 | 190,088 |
Loans, past due | 798 | 597 |
Loans, total | 231,701 | 190,685 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 189 | 30 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 609 | 567 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 4,837 | 4,547 |
Loans, past due | 21 | 32 |
Loans, total | 4,858 | 4,579 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 16 | 27 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 3 | 3 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | $ 2 | $ 2 |
Note 4 - Loans and Related Al65
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | $ 7,545 | $ 7,347 |
Loans, 90+ days past due and accruing | 2 | 165 |
Commercial and Industrial [Member] | ||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 1,450 | 365 |
Loans, 90+ days past due and accruing | 0 | 0 |
Real Estate Construction Porfolio Segment [Member] | ||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 130 | 587 |
Loans, 90+ days past due and accruing | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 4,122 | 5,310 |
Loans, 90+ days past due and accruing | 0 | 165 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 1,842 | 1,083 |
Loans, 90+ days past due and accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 1 | 2 |
Loans, 90+ days past due and accruing | $ 2 | $ 0 |
Note 5 - Other Real Estate Ow66
Note 5 - Other Real Estate Owned ("OREO") (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Other Real Estate Owned OREO [Abstract] | ||
Real Estate Acquired Through Foreclosure | $ 1.4 | $ 2.6 |
Mortgage Loans in Process of Foreclosure, Amount | $ 1.1 |
Note 6 - Premises and Equipme67
Note 6 - Premises and Equipment (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $ 715,000 | $ 750,000 | $ 676,000 |
Note 6 - Premises and Equipme68
Note 6 - Premises and Equipment (Details) - Major Classifications of Premises and Equipment - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Major Classifications of Premises and Equipment [Abstract] | ||
Land and land improvements | $ 1,943 | $ 1,943 |
Building and leasehold improvements | 11,414 | 11,133 |
Furniture, fixtures, and equipment | 4,853 | 4,637 |
18,210 | 17,713 | |
Less accumulated depreciation and amortization | 8,438 | 7,733 |
Total | $ 9,772 | $ 9,980 |
Note 7 - Goodwill and Intangi69
Note 7 - Goodwill and Intangible Assets (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 7 - Goodwill and Intangible Assets (Details) [Line Items] | |||
Goodwill | $ 4,559,000 | $ 4,559,000 | |
Finite-Lived Core Deposits, Gross | 76,000 | 116,000 | |
Core Deposits [Member] | |||
Note 7 - Goodwill and Intangible Assets (Details) [Line Items] | |||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 320,000 | 280,000 | |
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Amortization of Intangible Assets | $ 40,000 | $ 40,000 | $ 40,000 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 40,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | $ 36,000 |
Note 8 - Other Assets (Details)
Note 8 - Other Assets (Details) - Components of Other Assets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 8 - Other Assets (Details) - Components of Other Assets [Line Items] | ||
FHLB stock | $ 1,887 | $ 1,887 |
Accrued interest | 2,387 | 2,095 |
Deferred tax asset, net | 959 | 1,484 |
Other | 2,244 | 1,579 |
Total | 7,477 | 7,045 |
Investment Securities [Member] | ||
Note 8 - Other Assets (Details) - Components of Other Assets [Line Items] | ||
Accrued interest | 1,010 | 1,005 |
Loans 1 [Member] | ||
Note 8 - Other Assets (Details) - Components of Other Assets [Line Items] | ||
Accrued interest | $ 1,377 | $ 1,090 |
Note 9 - Deposits (Details)
Note 9 - Deposits (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Time Deposit Maturities, Next Twelve Months | $ 92.9 | |
Time Deposit Maturities, Year Two | 30.2 | |
Time Deposit Maturities, Year Three | 11 | |
Time Deposit Maturities, Year Four | 9 | |
Time Deposit Maturities, Year Five | 48.2 | |
Time Deposits $250,000 or More | $ 29 | $ 54.6 |
Note 10 - Short-term Borrowin72
Note 10 - Short-term Borrowings (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4 | $ 3 | $ 2.5 |
Line of Credit Facility, Interest Rate During Period | 3.92% | 4.00% | 3.75% |
Long-term Line of Credit | $ 9.5 | $ 3.1 | $ 3.9 |
Note 10 - Short-term Borrowin73
Note 10 - Short-term Borrowings (Details) - Outstanding Balances and Related Information of Short-term Borrowings - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Outstanding Balances and Related Information of Short-term Borrowings [Abstract] | ||
Balance at year-end | $ 35,825 | $ 14,808 |
Average balance outstanding | 11,768 | 8,379 |
Maximum month-end balance | $ 35,825 | $ 19,970 |
Weighted-average rate at year-end | 1.37% | 0.98% |
Weighted-average rate during the year | 1.65% | 1.77% |
Note 10 - Short-term Borrowin74
Note 10 - Short-term Borrowings (Details) - Repurchase Agreements - Overnight and Continuous [Member] - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Repurchase agreements: | ||
Repurchase agreements | $ 2,929 | $ 3,181 |
US Government Agencies Debt Securities [Member] | ||
Repurchase agreements: | ||
Repurchase agreements | 1,052 | 1,090 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Repurchase agreements: | ||
Repurchase agreements | $ 1,877 | $ 2,091 |
Note 11 - Other Borrowings (Det
Note 11 - Other Borrowings (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2006 | Dec. 31, 2015 | Dec. 31, 2013 | |
Note 11 - Other Borrowings (Details) [Line Items] | |||
Annual Paydown of Principal Required | 20.00% | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 80,000,000 | ||
Stock Issued During Period, Value, New Issues | $ 248,000 | $ 74,000 | |
Notes Payable | $ 8,248,000 | ||
London Interbank Offered Rate (LIBOR) [Member] | |||
Note 11 - Other Borrowings (Details) [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.67% | ||
Mandatorily Redeemable Securities [Member] | Special Purpose Entity [Member] | |||
Note 11 - Other Borrowings (Details) [Line Items] | |||
Securities Sold under Agreements to Repurchase | $ 8,000,000 |
Note 11 - Other Borrowings (D76
Note 11 - Other Borrowings (Details) - Other Borrowings - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 11 - Other Borrowings (Details) - Other Borrowings [Line Items] | ||
Weighted-average interest rate | 1.65% | 1.77% |
Other borrowings | $ 9,939 | $ 10,624 |
Fixed Rate Amortizing [Member] | ||
Note 11 - Other Borrowings (Details) - Other Borrowings [Line Items] | ||
Maturity range, minimum | Jul. 1, 2017 | |
Maturity range, maximum | Oct. 1, 2028 | |
Weighted-average interest rate | 4.02% | |
Other borrowings | $ 1,691 | 2,376 |
Junior Subordinated Debt [Member] | ||
Note 11 - Other Borrowings (Details) - Other Borrowings [Line Items] | ||
Maturity range, minimum | Dec. 21, 2037 | |
Maturity range, maximum | Dec. 21, 2037 | |
Weighted-average interest rate | 1.95% | |
Other borrowings | $ 8,248 | $ 8,248 |
Minimum [Member] | Fixed Rate Amortizing [Member] | ||
Note 11 - Other Borrowings (Details) - Other Borrowings [Line Items] | ||
Stated interest rate range | 2.99% | |
Minimum [Member] | Junior Subordinated Debt [Member] | ||
Note 11 - Other Borrowings (Details) - Other Borrowings [Line Items] | ||
Stated interest rate range | 1.90% | |
Maximum [Member] | Fixed Rate Amortizing [Member] | ||
Note 11 - Other Borrowings (Details) - Other Borrowings [Line Items] | ||
Stated interest rate range | 4.47% | |
Maximum [Member] | Junior Subordinated Debt [Member] | ||
Note 11 - Other Borrowings (Details) - Other Borrowings [Line Items] | ||
Stated interest rate range | 1.99% |
Note 11 - Other Borrowings (D77
Note 11 - Other Borrowings (Details) - Maturities of Other Borrowings - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Maturities of Other Borrowings [Abstract] | ||
2,016 | $ 502 | |
2,016 | 4.00% | |
2,017 | $ 373 | |
2,017 | 4.00% | |
2,018 | $ 252 | |
2,018 | 4.02% | |
2,019 | $ 155 | |
2,019 | 4.04% | |
2,020 | $ 116 | |
2,020 | 4.04% | |
Beyond 2,020 | $ 8,542 | |
Beyond 2,020 | 1.51% | |
Total | $ 9,939 | $ 10,624 |
Total | 1.84% |
Note 12 - Other Liabilities (De
Note 12 - Other Liabilities (Details) - Components of Other Liabilities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Components of Other Liabilities [Abstract] | ||
Accrued interest payable | $ 395 | $ 315 |
Supplemental Executive Retirement Plan | 1,091 | 828 |
Accrued salary expense | 689 | 609 |
Other | 449 | 368 |
Total | $ 2,624 | $ 2,120 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Assets, Valuation Allowance | $ 0 | $ 0 |
Unrecognized Tax Benefits | $ 0 | $ 0 |
Note 13 - Income Taxes (Detai80
Note 13 - Income Taxes (Details) - The Provision (Benefit) for Federal Income Taxes - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
The Provision (Benefit) for Federal Income Taxes [Abstract] | |||||||||||
Current payable | $ 1,004 | $ 2,146 | $ 1,556 | ||||||||
Deferred | 558 | (154) | 423 | ||||||||
Total provision | $ 298 | $ 544 | $ 316 | $ 404 | $ 550 | $ 529 | $ 414 | $ 499 | $ 1,562 | $ 1,992 | $ 1,979 |
Note 13 - Income Taxes (Detai81
Note 13 - Income Taxes (Details) - Deferred Tax Assets and Liabilities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Allowance for loan and lease losses | $ 2,171 | $ 2,328 |
Supplemental retirement plan | 371 | 282 |
Investment security basis adjustment | 66 | 66 |
Nonaccrual interest income | 415 | 444 |
Deferred origination fees, net | 12 | 295 |
OREO adjustments | 92 | 94 |
Accrued compensation | 234 | 207 |
Other | 23 | 14 |
Gross deferred tax assets | 3,384 | 3,730 |
Deferred tax liabilities: | ||
Premises and equipment | 514 | 385 |
Net unrealized gain on securities | 1,233 | 1,311 |
FHLB stock dividends | 225 | 225 |
Intangibles | 401 | 353 |
Mortgage servicing rights | 68 | 0 |
Other | 44 | 77 |
Gross deferred tax liabilities | 2,485 | 2,351 |
Net deferred tax assets | $ 899 | $ 1,379 |
Note 13 - Income Taxes (Detai82
Note 13 - Income Taxes (Details) - Tax Rate Reconciliation - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Tax Rate Reconciliation [Abstract] | |||||||||||
Provision at statutory rate | $ 2,866 | $ 3,119 | $ 3,062 | ||||||||
Provision at statutory rate | 34.00% | 34.00% | 34.00% | ||||||||
Tax-free income | $ (1,347) | $ (1,187) | $ (1,138) | ||||||||
Tax-free income | (15.90%) | (12.90%) | (12.60%) | ||||||||
Nondeductible interest expense | $ 34 | $ 37 | $ 45 | ||||||||
Nondeductible interest expense | 0.40% | 0.40% | 0.50% | ||||||||
Other | $ 9 | $ 23 | $ 10 | ||||||||
Other | 0.00% | 0.20% | 0.10% | ||||||||
Actual tax expense and effective rate | $ 298 | $ 544 | $ 316 | $ 404 | $ 550 | $ 529 | $ 414 | $ 499 | $ 1,562 | $ 1,992 | $ 1,979 |
Actual tax expense and effective rate | 18.50% | 21.70% | 22.00% |
Note 14 - Employee Benefits (De
Note 14 - Employee Benefits (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Retirement Plan [Member] | |||
Note 14 - Employee Benefits (Details) [Line Items] | |||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 1 year | ||
Defined Contribution Plan, Employer Voluntary Matching, Bank Contribution | 50.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 6 years | ||
Defined Benefit Plan, Contributions by Employer | $ 156,000 | $ 143,000 | $ 155,000 |
Stock Option and Restricted Stock Plan [Member] | |||
Note 14 - Employee Benefits (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 160,000 | ||
Omnibus Equity Plan [Member] | |||
Note 14 - Employee Benefits (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | 0 | |
Middlefield Banking Company [Member] | Retirement Plan [Member] | |||
Note 14 - Employee Benefits (Details) [Line Items] | |||
Defined Contribution Plan Annual Vesting Percentage | 20.00% | ||
Middlefield Banking Company [Member] | Directors Retirement Plan [Member] | |||
Note 14 - Employee Benefits (Details) [Line Items] | |||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 5 years | ||
Retirement Benefits Term | 10 years | ||
Post-retirement Benefits Percentage of Compensation | 25.00% | ||
Middlefield Banking Company [Member] | Executive Deferred Compensation Plan [Member] | |||
Note 14 - Employee Benefits (Details) [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 65,000 | $ 115,000 | $ 120,000 |
Maximum [Member] | Stock Option and Restricted Stock Plan [Member] | |||
Note 14 - Employee Benefits (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years |
Note 14 - Employee Benefits (84
Note 14 - Employee Benefits (Details) - Projected Benefit Payments $ in Thousands | Dec. 31, 2015USD ($) |
Projected Benefit Payments [Abstract] | |
2,016 | $ 29,000 |
2,017 | 23,000 |
2,018 | 18,000 |
2,019 | 12,000 |
2,020 | 10,000 |
2,021 | 2,000 |
Total | $ 94,000 |
Note 14 - Employee Benefits (85
Note 14 - Employee Benefits (Details) - Stock Option Activity - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Stock Option Activity [Abstract] | ||
Outstanding, January 1 | 46,451 | 58,581 |
Outstanding, January 1 | $ 27.90 | $ 28.38 |
Expired | (10,802) | 0 |
Expired | $ 36.93 | $ 0 |
Exercised | (2,175) | (11,223) |
Exercised | $ 21.31 | $ 30.45 |
Forfeited | (1,525) | (907) |
Forfeited | $ 33.53 | $ 27.35 |
Outstanding, December 31 | 31,949 | 46,451 |
Outstanding, December 31 | $ 25.03 | $ 27.90 |
Exercisable, December 31 | 31,949 | 46,451 |
Exercisable, December 31 | $ 25.03 | $ 27.90 |
Note 14 - Employee Benefits (86
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | |||
Outstanding, shares (in Shares) | 31,949 | 46,451 | 58,581 |
Outstanding, average exercise price | $ 25.03 | $ 27.90 | $ 28.38 |
Exercisable, shares (in Shares) | 31,949 | 46,451 | |
Exercisable, average exercise price | $ 25.03 | $ 27.90 | |
Granted December 10, 2006 [Member] | |||
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | |||
Exercise price | $ 40.24 | ||
Outstanding, shares (in Shares) | 2,625 | ||
Outstanding, contractual average life | 343 days | ||
Outstanding, average exercise price | $ 40.24 | ||
Exercisable, shares (in Shares) | 2,625 | ||
Exercisable, average exercise price | $ 40.24 | ||
Granted May 16, 2007 [Member] | |||
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | |||
Exercise price | $ 37.48 | ||
Outstanding, shares (in Shares) | 1,337 | ||
Outstanding, contractual average life | 1 year 135 days | ||
Outstanding, average exercise price | $ 37.48 | ||
Exercisable, shares (in Shares) | 1,337 | ||
Exercisable, average exercise price | $ 37.48 | ||
Granted December 10, 2007 [Member] | |||
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | |||
Exercise price | $ 37 | ||
Outstanding, shares (in Shares) | 1,950 | ||
Outstanding, contractual average life | 1 year 343 days | ||
Outstanding, average exercise price | $ 37 | ||
Exercisable, shares (in Shares) | 1,950 | ||
Exercisable, average exercise price | $ 37 | ||
Granted January 2, 2008 [Member] | |||
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | |||
Exercise price | $ 36.25 | ||
Outstanding, shares (in Shares) | 1,337 | ||
Outstanding, contractual average life | 2 years | ||
Outstanding, average exercise price | $ 36.25 | ||
Exercisable, shares (in Shares) | 1,337 | ||
Exercisable, average exercise price | $ 36.25 | ||
Granted November 10, 2008 [Member] | |||
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | |||
Exercise price | $ 23 | ||
Outstanding, shares (in Shares) | 16,500 | ||
Outstanding, contractual average life | 2 years 313 days | ||
Outstanding, average exercise price | $ 23 | ||
Exercisable, shares (in Shares) | 16,500 | ||
Exercisable, average exercise price | $ 23 | ||
Granted May 9, 2011 [Member] | |||
Note 14 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | |||
Exercise price | $ 17.55 | ||
Outstanding, shares (in Shares) | 8,200 | ||
Outstanding, contractual average life | 5 years 127 days | ||
Outstanding, average exercise price | $ 17.55 | ||
Exercisable, shares (in Shares) | 8,200 | ||
Exercisable, average exercise price | $ 17.55 |
Note 15 - Commitments (Details)
Note 15 - Commitments (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Operating Leases, Rent Expense | $ 288,000 | $ 269,000 | $ 301,000 |
Note 15 - Commitments (Detail88
Note 15 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 15 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities [Line Items] | ||
Commitments | $ 116,538 | $ 102,461 |
Financial Standby Letter of Credit [Member] | ||
Note 15 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities [Line Items] | ||
Commitments | 4,404 | 4,514 |
Commitments to Extend Credit [Member] | ||
Note 15 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities [Line Items] | ||
Commitments | $ 112,134 | $ 97,947 |
Note 15 - Commitments (Detail89
Note 15 - Commitments (Details) - Future Payments Under Operating Leases $ in Thousands | Dec. 31, 2015USD ($) |
Future Payments Under Operating Leases [Abstract] | |
2,016 | $ 285 |
2,017 | 293 |
2,018 | 294 |
2,019 | 289 |
2,020 | 301 |
Thereafter | 2,055 |
$ 3,517 |
Note 16 - Regulatory Restrict90
Note 16 - Regulatory Restrictions (Details) - USD ($) $ in Millions | 75 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Banking and Thrift [Abstract] | ||
Nonperforming Assets Sold | $ 5.8 | |
Reserves Required by Federal Reserve Bank | $ 6.9 | $ 6.8 |
Percent of Common Stock | 10.00% | |
Amount Available for Payment of Dividends | $ 8.5 |
Note 17 - Regulatory Capital (D
Note 17 - Regulatory Capital (Details) | 12 Months Ended | |
Dec. 31, 2015 | Jan. 01, 2019 | |
Note 17 - Regulatory Capital (Details) [Line Items] | ||
Capital Conservation Buffer, Phase in Amount | 0.625% | |
Capital Conservation Buffer, Phase-in, Number of years | 4 years | |
Scenario, Forecast [Member] | ||
Note 17 - Regulatory Capital (Details) [Line Items] | ||
Capital Conservation Buffer, Maximum Percentage | 2.50% |
Note 17 - Regulatory Capital 92
Note 17 - Regulatory Capital (Details) - Capital Ratios | Dec. 31, 2015 | Dec. 31, 2014 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Leverage capital, adequately capitalized, ratio | 4.00% | 4.00% |
Tier 1 risk based capital, adequately capitalized, ratio | 6.00% | 4.00% |
Common equity tier 1 capital, adequately capitalized, ratio | 4.50% | |
Total risk based capital, adequately capitalized, ratio | 8.00% | 8.00% |
Adequately capitalized ratio plus capital conservation buffer | 4.00% | |
Adequately capitalized ratio plus capital conservation buffer | 8.50% | |
Adequately capitalized ratio plus capital conservation buffer | 7.00% | |
Adequately capitalized ratio plus capital conservation buffer | 10.50% | |
Middlefield Banking Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Leverage capital, actual, ratio | 9.23% | 9.25% |
Tier 1 risk based capital, actual, ratio | 12.52% | 12.95% |
Common equity tier 1 capital, actual, ratio | 12.52% | |
Total risk based capital, actual, ratio | 13.73% | 14.19% |
Leverage capital, well-capitalized, ratio (bank only) | 5.00% | 5.00% |
Tier 1 risk based capital, well-capitalized, ratio (bank only) | 8.00% | 6.00% |
Common equity tier 1 capital, well-capitalized, ratio (bank only) | 6.50% | |
Total risk based capital, well-capitalized, ratio (bank only) | 10.00% | 10.00% |
Middlefield Banc Corp [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Leverage capital, actual, ratio | 8.69% | 9.60% |
Tier 1 risk based capital, actual, ratio | 12.00% | 13.38% |
Common equity tier 1 capital, actual, ratio | 12.00% | |
Total risk based capital, actual, ratio | 13.20% | 14.64% |
Note 18 - Fair Value Measurem93
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | $ 146,520 | $ 154,334 |
Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 146,520 | 154,334 |
US Government Agencies Debt Securities [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 21,629 | 22,896 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 21,629 | 22,896 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 97,290 | 98,345 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 24,524 | 29,391 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 24,524 | 29,391 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 2,263 | 2,919 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 2,263 | 2,919 |
Debt Securities [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 145,706 | 153,551 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 145,706 | 153,551 |
Equity Securities in Financial Institutions [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 814 | 783 |
Equity Securities in Financial Institutions [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 814 | 783 |
Fair Value, Inputs, Level 2 [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 146,520 | 154,334 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 146,520 | 154,334 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 21,629 | 22,896 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 97,290 | 98,345 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 24,524 | 29,391 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 2,263 | 2,919 |
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 145,706 | 153,551 |
Fair Value, Inputs, Level 2 [Member] | Equity Securities in Financial Institutions [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | $ 814 | $ 783 |
Note 18 - Fair Value Measurem94
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 13,681 | $ 14,368 |
Other real estate owned | 1,400 | 2,600 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis [Line Items] | ||
Impaired loans | 12,848 | 12,772 |
Other real estate owned | 1,412 | 2,590 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Note 18 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis [Line Items] | ||
Impaired loans | 12,848 | 12,772 |
Other real estate owned | $ 1,412 | $ 2,590 |
Note 18 - Fair Value Measurem95
Note 18 - Fair Value Measurements (Details) - Additional Quantitative Information About Assets Measured at Fair Value on Non-recurring Basis - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Fair Value Estimate (in Dollars) | $ 6,867 | ||
Valuation Techniques / Unobservable Input | Discounted cash flow | ||
Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Fair Value Estimate (in Dollars) | $ 5,981 | $ 12,772 | |
Valuation Techniques / Unobservable Input | [1] | Appraisal of collateral (1) | Appraisal of collateral (1) |
Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Fair Value Estimate (in Dollars) | $ 1,412 | $ 2,590 | |
Valuation Techniques / Unobservable Input | [1] | Appraisal of collateral (1) | Appraisal of collateral (1) |
Minimum [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 3.10% | ||
Discount Rate, Weighted Average | (3.10%) | ||
Minimum [Member] | Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 0.00% | 0.00% | |
Discount Rate, Weighted Average | (0.00%) | (0.00%) | |
Minimum [Member] | Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 0.00% | 0.00% | |
Discount Rate, Weighted Average | (0.00%) | (0.00%) | |
Maximum [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 7.90% | ||
Discount Rate, Weighted Average | (7.90%) | ||
Maximum [Member] | Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 87.10% | 84.60% | |
Discount Rate, Weighted Average | (87.10%) | (84.60%) | |
Maximum [Member] | Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 10.00% | 10.00% | |
Discount Rate, Weighted Average | (10.00%) | (10.00%) | |
Weighted Average [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 5.00% | ||
Discount Rate, Weighted Average | (5.00%) | ||
Weighted Average [Member] | Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 23.30% | 25.50% | |
Discount Rate, Weighted Average | (23.30%) | (25.50%) | |
Weighted Average [Member] | Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | 7.30% | 7.50% | |
Discount Rate, Weighted Average | (7.30%) | (7.50%) | |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. |
Note 18 - Fair Value Measurem96
Note 18 - Fair Value Measurements (Details) - Estimated Fair Value of the Company’s Financial Instruments - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financial assets: | ||||
Cash and cash equivalents | $ 23,750 | $ 25,639 | $ 26,193 | $ 45,346 |
Cash and cash equivalents, fair value | 23,750 | 25,639 | ||
Investment securities available for sale | 146,520 | 154,334 | ||
Investment securities available for sale, at fair value | 146,520 | 154,334 | ||
Loans held for sale | 1,107 | 438 | ||
Loans held for sale, fair value | 1,107 | 438 | ||
Net loans | 527,325 | 463,738 | ||
Net loans, fair value | 534,021 | 475,019 | ||
Bank-owned life insurance | 13,141 | 9,092 | ||
Bank-owned life insurance, fair value | 13,141 | 9,092 | ||
Federal Home Loan Bank stock | 1,887 | 1,887 | ||
Federal Home Loan Bank stock, fair value | 1,887 | 1,887 | ||
Accrued interest receivable | 2,387 | 2,095 | ||
Accrued interest receivable, fair value | 2,387 | 2,095 | ||
Financial liabilities: | ||||
Deposits | 624,447 | 586,112 | ||
Deposits, fair value | 624,973 | 586,796 | ||
Short-term borrowings | 35,825 | 14,808 | ||
Short-term borrowings, fair value | 35,825 | 14,808 | ||
Other borrowings | 9,939 | 10,624 | ||
Other borrowings, fair value | 10,063 | 10,822 | ||
Accrued interest payable | 395 | 315 | ||
Accrued interest payable, fair value | 395 | 315 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents, fair value | 23,750 | 25,639 | ||
Bank-owned life insurance | 13,141 | 9,092 | ||
Bank-owned life insurance, fair value | 13,141 | 9,092 | ||
Federal Home Loan Bank stock | 1,887 | 1,887 | ||
Federal Home Loan Bank stock, fair value | 1,887 | 1,887 | ||
Accrued interest receivable | 2,387 | 2,095 | ||
Accrued interest receivable, fair value | 2,387 | 2,095 | ||
Financial liabilities: | ||||
Deposits, fair value | 433,226 | 416,254 | ||
Short-term borrowings, fair value | 35,825 | 14,808 | ||
Accrued interest payable | 395 | 315 | ||
Accrued interest payable, fair value | 395 | 315 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets: | ||||
Investment securities available for sale | 146,520 | 154,334 | ||
Investment securities available for sale, at fair value | 146,520 | 154,334 | ||
Loans held for sale, fair value | 1,107 | 438 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Net loans, fair value | 534,021 | 475,019 | ||
Financial liabilities: | ||||
Deposits, fair value | 191,747 | 170,542 | ||
Other borrowings, fair value | $ 10,063 | $ 10,822 |
Note 19 - Accumulated Other C97
Note 19 - Accumulated Other Comprehensive Income (Details) - Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax [Abstract] | |||
Beginning balance | $ 2,548 | $ (2,237) | |
Other comprehensive income (loss) before reclassification | 60 | 4,949 | |
Amount reclassified from accumulated other comprehensive income (loss) | (213) | (164) | |
Period change | (153) | 4,785 | $ (7,628) |
Ending balance | $ 2,395 | $ 2,548 | $ (2,237) |
Note 19 - Accumulated Other C98
Note 19 - Accumulated Other Comprehensive Income (Details) - Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Unrealized gains on available-for-sale securities | |||
Reclassified from accumulated other comprehensive income, investment securities gains, net | [1] | $ 323 | $ 248 |
Reclassified from accumulated other comprehensive income, income taxes | [1] | (110) | (84) |
Reclassified from accumulated other comprehensive income, net of tax | [1] | $ 213 | $ 164 |
[1] | Amounts in parentheses indicate debits to net income |
Note 20 - Parent Company (Detai
Note 20 - Parent Company (Details) - Condensed Balance Sheet - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ||||
Cash and due from banks | $ 22,421 | $ 20,846 | ||
Investment securities available for sale | 146,520 | 154,334 | ||
Other assets | 7,477 | 7,045 | ||
TOTAL ASSETS | 735,139 | 677,531 | ||
LIABILITIES | ||||
Short-term borrowings | 35,825 | 14,808 | ||
TOTAL LIABILITIES | 672,835 | 613,664 | ||
STOCKHOLDERS' EQUITY | 62,304 | 63,867 | $ 53,473 | $ 55,437 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 735,139 | 677,531 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and due from banks | 1,329 | 466 | ||
Investment securities available for sale | 814 | 783 | ||
Other assets | 2,475 | 1,981 | ||
TOTAL ASSETS | 80,097 | 75,278 | ||
LIABILITIES | ||||
Trust preferred securities | 8,248 | 8,248 | ||
Short-term borrowings | 9,499 | 3,136 | ||
Other liabilities | 43 | 27 | ||
TOTAL LIABILITIES | 17,790 | 11,411 | ||
STOCKHOLDERS' EQUITY | 62,307 | 63,867 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 80,097 | 75,278 | ||
Parent Company [Member] | Non Bank Subsidiary [Member] | ||||
ASSETS | ||||
Equity method investments | 2,418 | 2,534 | ||
Parent Company [Member] | Subsidiary Banks [Member] | ||||
ASSETS | ||||
Equity method investments | $ 73,061 | $ 69,514 |
Note 20 - Parent Company (De100
Note 20 - Parent Company (Details) - Condensed Statement of Income and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
INCOME | |||||||||||
Total income | $ 28,595 | $ 27,874 | $ 28,178 | ||||||||
EXPENSES | |||||||||||
Interest expense | $ 988 | $ 959 | $ 990 | $ 883 | $ 1,005 | $ 999 | $ 1,033 | $ 1,033 | 3,820 | 4,070 | 5,250 |
Income before income tax benefit | 2,048 | 2,526 | 1,821 | 2,032 | 2,438 | 2,447 | 2,025 | 2,262 | 8,427 | 9,172 | 9,007 |
Income tax benefit | 298 | 544 | 316 | 404 | 550 | 529 | 414 | 499 | 1,562 | 1,992 | 1,979 |
NET INCOME | $ 1,750 | $ 1,982 | $ 1,505 | $ 1,628 | $ 1,888 | $ 1,918 | $ 1,611 | $ 1,763 | 6,865 | 7,180 | 7,028 |
Comprehensive Income (Loss) | 6,712 | 11,965 | (600) | ||||||||
Parent Company [Member] | |||||||||||
INCOME | |||||||||||
Dividends from subsidiary bank | 4,023 | 3,142 | 2,198 | ||||||||
Other | 19 | 8 | 5 | ||||||||
Total income | 4,042 | 3,150 | 2,203 | ||||||||
EXPENSES | |||||||||||
Interest expense | 290 | 304 | 361 | ||||||||
Other | 860 | 816 | 475 | ||||||||
Total expenses | 1,150 | 1,120 | 836 | ||||||||
Income before income tax benefit | 2,892 | 2,030 | 1,367 | ||||||||
Income tax benefit | (386) | (378) | (283) | ||||||||
Income before equity in undistributed net income of subsidiaries | 3,278 | 2,408 | 1,650 | ||||||||
Equity in undistributed net income of subsidiaries | 3,587 | 4,772 | 5,378 | ||||||||
NET INCOME | 6,865 | 7,180 | 7,028 | ||||||||
Comprehensive Income (Loss) | $ 6,712 | $ 11,965 | $ (600) |
Note 20 - Parent Company (De101
Note 20 - Parent Company (Details) - Condensed Statement of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | |||||||||||
Net income | $ 1,750 | $ 1,982 | $ 1,505 | $ 1,628 | $ 1,888 | $ 1,918 | $ 1,611 | $ 1,763 | $ 6,865 | $ 7,180 | $ 7,028 |
Other | 121 | (831) | 263 | ||||||||
Net cash provided by operating activities | 7,182 | 7,459 | 9,897 | ||||||||
FINANCING ACTIVITIES | |||||||||||
Net increase (decrease) in short-term borrowings | 21,017 | 3,999 | 4,271 | ||||||||
Purchase of treasury stock | (6,784) | ||||||||||
Common stock issued | 74 | ||||||||||
Cash dividends | 2,153 | 2,121 | 2,097 | ||||||||
Net cash used for financing activities | 50,374 | 18,709 | (22,953) | ||||||||
Increase (decrease) in cash | (1,889) | (554) | (19,153) | ||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 25,639 | 26,193 | 25,639 | 26,193 | 45,346 | ||||||
CASH AND CASH EQUIVALENTS AT END OF YEAR | 23,750 | 25,639 | 23,750 | 25,639 | 26,193 | ||||||
Parent Company [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | 6,865 | 7,180 | 7,028 | ||||||||
Equity method investments, income (loss) | (3,587) | (4,772) | (5,378) | ||||||||
Net cash provided by operating activities | 2,793 | 2,009 | 1,397 | ||||||||
FINANCING ACTIVITIES | |||||||||||
Net increase (decrease) in short-term borrowings | 6,363 | (759) | (976) | ||||||||
Purchase of treasury stock | (6,784) | ||||||||||
Common stock issued | 74 | ||||||||||
Stock options exercised | (7) | (50) | (77) | ||||||||
Proceeds from dividend reinvestment plan | 651 | 590 | 736 | ||||||||
Cash dividends | (2,153) | (2,121) | (2,097) | ||||||||
Net cash used for financing activities | (1,930) | (2,340) | (2,340) | ||||||||
Increase (decrease) in cash | 863 | (331) | (943) | ||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | $ 466 | $ 797 | 466 | 797 | 1,740 | ||||||
CASH AND CASH EQUIVALENTS AT END OF YEAR | $ 1,329 | $ 466 | 1,329 | 466 | 797 | ||||||
Parent Company [Member] | Middlefield Banking Company [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Equity method investments, income (loss) | (3,703) | (4,798) | (4,884) | ||||||||
Stock-based compensation expense | 18 | 10 | |||||||||
Other | (503) | (409) | (253) | ||||||||
Parent Company [Member] | Emerald Bank [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Equity method investments, income (loss) | (598) | ||||||||||
Parent Company [Member] | EMORECO [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Equity method investments, income (loss) | $ 116 | $ 26 | $ 104 |
Note 21 - Selected Quarterly102
Note 21 - Selected Quarterly Financial Data (Unaudited) (Details) - Selected Quarterly Financial Data (Unaudited) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Selected Quarterly Financial Data (Unaudited) [Abstract] | |||||||||||
Total interest income | $ 7,343 | $ 7,151 | $ 7,066 | $ 7,035 | $ 7,055 | $ 6,911 | $ 6,919 | $ 6,989 | |||
Total interest expense | 988 | 959 | 990 | 883 | 1,005 | 999 | 1,033 | 1,033 | $ 3,820 | $ 4,070 | $ 5,250 |
Net interest income | 6,355 | 6,192 | 6,076 | 6,152 | 6,050 | 5,912 | 5,886 | 5,956 | 24,775 | 23,804 | 22,928 |
Provision for loan losses | 105 | 105 | 105 | 70 | 120 | 180 | 315 | 370 | 196 | ||
Net interest income after provision for loan losses | 6,250 | 6,087 | 6,076 | 6,047 | 6,050 | 5,842 | 5,766 | 5,776 | 24,460 | 23,434 | 22,732 |
Total noninterest income | 1,178 | 1,108 | 962 | 796 | 1,026 | 990 | 857 | 715 | 4,044 | 3,588 | 3,145 |
Total noninterest expense | 5,380 | 4,669 | 5,217 | 4,811 | 4,638 | 4,385 | 4,598 | 4,229 | 20,077 | 17,850 | 16,870 |
Income before income taxes | 2,048 | 2,526 | 1,821 | 2,032 | 2,438 | 2,447 | 2,025 | 2,262 | 8,427 | 9,172 | 9,007 |
Income taxes | 298 | 544 | 316 | 404 | 550 | 529 | 414 | 499 | 1,562 | 1,992 | 1,979 |
Net income | $ 1,750 | $ 1,982 | $ 1,505 | $ 1,628 | $ 1,888 | $ 1,918 | $ 1,611 | $ 1,763 | $ 6,865 | $ 7,180 | $ 7,028 |
Net income | |||||||||||
Basic (in Dollars per share) | $ 0.93 | $ 0.96 | $ 0.73 | $ 0.79 | $ 0.92 | $ 0.94 | $ 0.79 | $ 0.87 | $ 3.41 | $ 3.52 | $ 3.48 |
Diluted (in Dollars per share) | $ 0.92 | $ 0.96 | $ 0.73 | $ 0.78 | $ 0.92 | $ 0.93 | $ 0.79 | $ 0.86 | $ 3.39 | $ 3.50 | $ 3.47 |
Average shares outstanding: | |||||||||||
Basic (in Shares) | 1,884,484 | 2,064,054 | 2,058,986 | 2,053,660 | 2,049,536 | 2,044,124 | 2,038,026 | 2,033,480 | 2,014,966 | 2,041,635 | 2,016,862 |
Diluted (in Shares) | 1,893,345 | 2,072,639 | 2,068,313 | 2,062,867 | 2,059,561 | 2,052,012 | 2,044,564 | 2,039,515 | 2,024,120 | 2,049,506 | 2,024,040 |