Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 30, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Entity Central Index Key | 0000842518 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-35021 | |
Entity Registrant Name | EVANS BANCORP INC | |
Entity Tax Identification Number | 161332767 | |
Entity Address, Address Line One | One Grimsby Drive | |
Entity Address, City or Town | Hamburg | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 14075 | |
City Area Code | 716 | |
Local Phone Number | 926-2000 | |
Trading Symbol | evbn | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 4,923,879 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 19,587 | $ 13,997 |
Interest-bearing deposits at banks | 14,757 | 25,918 |
Securities: | ||
Available for sale, at fair value (amortized cost: $133,176 at September 30, 2019; $135,274 at December 31, 2018) | 134,457 | 132,104 |
Held to maturity, at amortized cost (fair value: $2,542 at September 30, 2019; $1,674 at December 31, 2018) | 2,520 | 1,685 |
Federal Home Loan Bank common stock, at cost | 1,588 | 1,474 |
Federal Reserve Bank common stock, at cost | 1,950 | 1,929 |
Loans, net of allowance for loan losses of $15,382 at September 30, 2019 and $14,784 at December 31, 2018 | 1,204,410 | 1,141,146 |
Properties and equipment, net of accumulated depreciation of $20,364 at September 30, 2019 and $19,416 at December 31, 2018 | 13,946 | 10,485 |
Goodwill and intangible assets | 12,657 | 12,992 |
Bank-owned life insurance | 29,254 | 28,403 |
Operating lease right-of-use asset (see Note 1) | 3,862 | |
Other assets | 16,744 | 18,074 |
TOTAL ASSETS | 1,455,732 | 1,388,207 |
Deposits: | ||
Demand | 271,633 | 231,902 |
NOW | 141,384 | 110,450 |
Savings | 568,156 | 571,479 |
Time | 277,633 | 301,227 |
Total deposits | 1,258,806 | 1,215,058 |
Securities sold under agreement to repurchase | 7,418 | 3,142 |
Other borrowings | 10,000 | 10,000 |
Operating lease liability (see Note 1) | 4,302 | |
Other liabilities | 19,007 | 17,031 |
Junior subordinated debentures | 11,330 | 11,330 |
Total liabilities | 1,310,863 | 1,256,561 |
STOCKHOLDERS' EQUITY: | ||
Common stock, $.50 par value, 10,000,000 shares authorized; 4,920,381 and 4,852,868 shares issued at September 30, 2019 and December 31, 2018, respectively, and 4,920,196 and 4,852,868 outstanding at September 30, 2019 and December 31, 2018, respectively | 2,462 | 2,429 |
Capital surplus | 62,736 | 61,225 |
Treasury stock, at cost, 185 and 0 shares at September 30, 2019 and December 31, 2018, respectively | ||
Retained earnings | 81,525 | 73,345 |
Accumulated other comprehensive loss, net of tax | (1,854) | (5,353) |
Total stockholders' equity | 144,869 | 131,646 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,455,732 | $ 1,388,207 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities: | ||
Available for sale, amortized cost | $ 133,176 | $ 135,274 |
Held to maturity, fair value | 2,542 | 1,674 |
Loans, allowance for loan losses | 15,382 | 14,784 |
Properties and equipment, accumulated depreciation | $ 20,364 | $ 19,416 |
STOCKHOLDERS' EQUITY: | ||
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,920,381 | 4,852,868 |
Common stock, shares outstanding | 4,920,196 | 4,852,868 |
Treasury stock, shares | 185 | 0 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
INTEREST INCOME | ||||
Loans | $ 15,645 | $ 13,676 | $ 45,149 | $ 39,238 |
Interest-bearing deposits at banks | 159 | 63 | 564 | 88 |
Securities: | ||||
Taxable | 993 | 805 | 2,736 | 2,465 |
Non-taxable | 48 | 146 | 263 | 512 |
Total interest income | 16,845 | 14,690 | 48,712 | 42,303 |
INTEREST EXPENSE | ||||
Deposits | 3,038 | 2,412 | 8,883 | 5,669 |
Other borrowings | 45 | 51 | 135 | 509 |
Junior subordinated debentures | 141 | 141 | 431 | 391 |
Total interest expense | 3,224 | 2,604 | 9,449 | 6,569 |
NET INTEREST INCOME | 13,621 | 12,086 | 39,263 | 35,734 |
PROVISION FOR LOAN LOSSES | (431) | 252 | 197 | 1,678 |
NET INTEREST INCOME (EXPENSE) AFTER PROVISION FOR LOAN LOSSES | 14,052 | 11,834 | 39,066 | 34,056 |
NON-INTEREST INCOME | ||||
Deposit service charges | 687 | 571 | 1,822 | 1,605 |
Insurance service and fees | 3,225 | 3,215 | 8,568 | 7,132 |
(Gain) loss on sale of securities | (98) | 42 | (98) | |
Gain on loans sold | 43 | 6 | 105 | 6 |
Bank-owned life insurance | 160 | 165 | 492 | 514 |
Loss on tax credit investment | (165) | (165) | ||
Refundable state historic tax credit | 150 | 150 | ||
Interchange fee income | 438 | 413 | 1,299 | 1,325 |
Other | 611 | 507 | 1,761 | 1,720 |
Total non-interest income | 5,164 | 4,764 | 14,089 | 12,189 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 7,644 | 7,090 | 22,273 | 20,192 |
Occupancy | 853 | 795 | 2,561 | 2,280 |
Advertising and public relations | 231 | 258 | 612 | 708 |
Professional services | 1,009 | 588 | 2,683 | 1,867 |
Technology and communications | 1,057 | 874 | 3,049 | 2,485 |
Amortization of intangibles | 112 | 112 | 336 | 168 |
FDIC insurance | 295 | 357 | 773 | |
Other | 1,370 | 1,445 | 3,778 | 3,388 |
Total non-interest expense | 12,276 | 11,457 | 35,649 | 31,861 |
INCOME BEFORE INCOME TAXES | 6,940 | 5,141 | 17,506 | 14,384 |
INCOME TAX PROVISION | 1,776 | 346 | 4,240 | 2,479 |
NET INCOME | $ 5,164 | $ 4,795 | $ 13,266 | $ 11,905 |
Net income per common share-basic | $ 1.05 | $ 0.99 | $ 2.71 | $ 2.48 |
Net income per common share-diluted | 1.04 | 0.97 | 2.68 | 2.41 |
Cash dividends per common share | $ 0.52 | $ 0.46 | $ 1.04 | $ 0.92 |
Weighted average number of common shares outstanding | 4,918,740 | 4,824,318 | 4,889,029 | 4,807,684 |
Weighted average number of diluted shares outstanding | 4,976,639 | 4,940,822 | 4,957,689 | 4,933,485 |
Statements Of Consolidated Comp
Statements Of Consolidated Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Statements Of Consolidated Comprehensive Income [Abstract] | |||||
NET INCOME | $ 5,164 | $ 4,795 | $ 13,266 | $ 11,905 | |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX: | |||||
Unrealized gain (loss) on available-for-sale securities | 523 | (738) | 3,297 | (2,782) | |
Defined benefit pension plans: | |||||
Amortization of prior service cost | [1] | 6 | 7 | 17 | 18 |
Amortization of actuarial loss | [1] | 62 | 33 | 185 | 100 |
Net change, Net-of-Tax Amount | 68 | 40 | 202 | 118 | |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | 591 | (698) | 3,499 | (2,664) | |
COMPREHENSIVE INCOME | $ 5,755 | $ 4,097 | $ 16,765 | $ 9,241 | |
[1] | Included in net periodic pension cost, as described in Note 9 - "Net Periodic Benefit Costs" |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders’ Equity - USD ($) $ in Thousands | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Total |
Balance at Dec. 31, 2017 | $ 2,394 | $ 59,444 | $ 59,921 | $ (3,417) | $ 118,342 |
Net Income | 11,905 | 11,905 | |||
Other comprehensive income | (2,664) | (2,664) | |||
Cash dividends | (4,420) | (4,420) | |||
Stock compensation expense | 597 | 597 | |||
Reissued restricted shares | |||||
Issued restricted shares, net of forfeitures | 8 | (8) | |||
Issued shares under Dividend Reinvestment Plan | 2 | 142 | 144 | ||
Issued shares in Employee Stock Purchase Plan | 2 | 151 | 153 | ||
Issued shares in stock option exercises | 11 | 96 | 107 | ||
Balance at Sep. 30, 2018 | 2,417 | 60,422 | 68,902 | (6,081) | 125,660 |
Balance at Jun. 30, 2018 | 2,413 | 60,220 | 66,325 | (5,383) | 123,575 |
Net Income | 4,795 | 4,795 | |||
Other comprehensive income | (698) | (698) | |||
Cash dividends | (2,218) | (2,218) | |||
Stock compensation expense | 198 | 198 | |||
Issued shares in stock option exercises | 4 | 4 | 8 | ||
Balance at Sep. 30, 2018 | 2,417 | 60,422 | 68,902 | (6,081) | 125,660 |
Cumulative-effect adjustment due to change in accounting principle | 1,496 | 1,496 | |||
Balance at Dec. 31, 2018 | 2,429 | 61,225 | 73,345 | (5,353) | 131,646 |
Net Income | 13,266 | 13,266 | |||
Other comprehensive income | 3,499 | 3,499 | |||
Cash dividends | (5,086) | (5,086) | |||
Stock compensation expense | 692 | 692 | |||
Reissued restricted shares | |||||
Issued restricted shares, net of forfeitures | 12 | (12) | |||
Issued shares under Dividend Reinvestment Plan | 2 | 137 | 139 | ||
Issued shares in Employee Stock Purchase Plan | 3 | 195 | 198 | ||
Issued shares in stock option exercises | 16 | 499 | 515 | ||
Balance at Sep. 30, 2019 | 2,462 | 62,736 | 81,525 | (1,854) | 144,869 |
Balance at Jun. 30, 2019 | 2,460 | 62,353 | 78,919 | (2,445) | 141,287 |
Net Income | 5,164 | 5,164 | |||
Other comprehensive income | 591 | 591 | |||
Cash dividends | (2,558) | (2,558) | |||
Stock compensation expense | 243 | 243 | |||
Issued shares in stock option exercises | 2 | 140 | 142 | ||
Balance at Sep. 30, 2019 | $ 2,462 | $ 62,736 | $ 81,525 | $ (1,854) | $ 144,869 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders’ Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Consolidated Statements Of Changes In Stockholders’ Equity [Abstract] | ||||
Cash dividends per common share | $ 0.52 | $ 0.46 | $ 1.04 | $ 0.92 |
Reissued restricted shares | 500 | 1,057 | ||
Issued restricted shares, net of forfeitures | 20,757 | 14,940 | ||
Issued shares under Dividend Reinvestment Plan | 3,866 | 3,205 | ||
Issued shares in Employee Stock Purchase Plan | 6,183 | 3,898 | ||
Issued shares in stock option exercises | 4,703 | 8,196 | 32,516 | 22,096 |
Reissued shares in stock option exercises | 2,261 | 3,506 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
OPERATING ACTIVITIES: | ||
Interest received | $ 48,957 | $ 42,157 |
Fees received | 13,404 | 10,897 |
Interest paid | (9,226) | (6,221) |
Cash paid to employees and vendors | (36,888) | (30,188) |
Income taxes (paid) refund | (1,586) | 475 |
Proceeds from sale of loans held for resale | 7,698 | 409 |
Originations of loans held for resale | (7,733) | (1,686) |
Net cash provided by operating activities | 14,626 | 15,843 |
INVESTING ACTIVITIES: | ||
Available for sales securities: Purchases | (46,893) | (47,863) |
Available for sales securities: Proceeds from sales, maturities, calls, and payments | 48,694 | 54,476 |
Held to maturity securities: Purchases | (1,141) | (156) |
Held to maturity securities: Proceeds from maturities, calls, and payments | 307 | 4,120 |
Cash paid for bank-owned life insurance | (360) | |
Proceeds from bank-owned life insurance claims | 675 | |
Additions to properties and equipment | (4,513) | (757) |
Proceeds from sales of assets | 185 | |
Proceeds from equity securities sales | 1,960 | |
Purchase of tax credit investment | (3,877) | |
Insurance agency acquisitions | (5,000) | |
Net increase in loans | (62,823) | (90,665) |
Net cash used in investing activities | (66,544) | (87,087) |
FINANCING ACTIVITIES: | ||
Proceeds (repayments) of short-term borrowings, net | 4,275 | (84,560) |
Net increase in deposits | 43,748 | 164,394 |
Dividends paid | (2,528) | (2,202) |
Issuance of common stock | 852 | 404 |
Net cash provided by financing activities | 46,347 | 78,036 |
Net increase (decrease) in cash and cash equivalents | (5,571) | 6,792 |
CASH AND CASH EQUIVALENTS: | ||
Beginning of period | 39,915 | 21,330 |
End of period | 34,344 | 28,122 |
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: | ||
Net income | 13,266 | 11,905 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,505 | 1,352 |
Deferred tax (benefit) expense | (201) | 414 |
Provision for loan losses | 197 | 1,678 |
Loss on tax credit investment | 165 | |
Refundable state historic tax credit received | 2,101 | |
Net gain on sales of assets | (3) | |
(Gain) loss on sales of equity securities | (42) | 98 |
Gain on loans sold | (105) | (6) |
Change in fair value of equity securities | (245) | |
Stock compensation expense | 692 | 597 |
Proceeds from sale of loans held for resale | 7,698 | 409 |
Originations of loans held for resale | (7,733) | (1,686) |
Changes in assets and liabilities affecting cash flow: | ||
Other assets | (5,508) | (3,262) |
Other liabilities | 4,860 | 2,323 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 14,626 | $ 15,843 |
Organization And Summary Of Sig
Organization And Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And Summary Of Significant Accounting Policies | 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies followed by Evans Bancorp, Inc. (the “Company”), a financial holding company, and its two direct, wholly-owned subsidiaries: (i) Evans Bank, National Association (the “Bank”), and the Bank’s subsidiaries, Evans National Leasing, Inc. (“ENL”), and Evans National Holding Corp. (“ENHC”); and (ii) Evans National Financial Services, LLC (“ENFS”), and ENFS’s subsidiary, The Evans Agency, LLC (“TEA”), and TEA’s subsidiaries, Frontier Claims Services, Inc. (“FCS”) and ENB Associates Inc. (“ENBA”), in the preparation of the accompanying interim unaudited consolidated financial statements conform with U.S. generally accepted accounting principles (“GAAP”) and with general practice within the industries in which it operates. Except as the context otherwise requires, the Company and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” The results of operations for the three and nine month periods ended September 30, 2019 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 (“10-K”). The Company’s significant accounting policies are disclosed in Note 1 to the 10-K. The Financial Accounting Standards Board (“FASB”) establishes changes to U.S. GAAP in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs when they are issued by FASB. ASUs listed below were adopted by the Company during its current fiscal year. ASUs not listed below did not have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. On January 1, 2019, the Company adopted ASU 2016-02 Leases and all subsequent amendments (collectively, “ASU 2016-02”). The objective of this ASU is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements to meet that objective. The main difference between previous GAAP and this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. Under this new guidance, a lessee should recognize in the statement of financial position a liability to make lease payments and a right-of-use (“ROU”) asset representing its right to use the underlying asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from previous GAAP. ASU 2016-02 required a modified retrospective transition approach, applying the new standard to all leases existing at the date of initial application. The Company elected to use the effective date, January 1, 2019, as our date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification. Under ASU 2016-02, leases are classified as finance or operating, with the classification affecting the pattern and classification of expense recognition in the income statement. The Company’s leases, consisting of property leases for certain of our bank branches and insurance agency offices, are classified as operating leases. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As these leases do not provide an implicit rate, we use our incremental borrowing rate in determining the present value of lease payments. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense for lease payments is recognized on a straight-line basis over the lease term. ASU 2016-02 had an impact on the Company’s consolidated balance sheets, but did not have an impact on the consolidated statements of income or the consolidated statements of cash flows. The most significant impacts upon adoption on January 1, 2019 were the recognition of $4.3 million of ROU assets and $4.7 million of lease liabilities, including $0.4 million of liabilities that were reported in other liabilities in the Company’s December 31, 2018 consolidated balance sheet. ROU assets and lease liability were $3.9 million and $4.3 million, respectively, at September 30, 2019. Operating lease expenses during the three and nine month periods ended September 30, 2019 were $178 thousand and $535 thousand, respectively, and are included in other non-interest expense on the consolidated statement of income. Cash paid for amounts included in the measurement of lease liabilities during the three and nine month periods ended September 30, 2019 were $185 thousand and $553 thousand, respectively, and are included in cash flows from operating activities on the consolidated statement of cash flows. The weighted average discount rate related to the Company’s leases was 3.5% as of September 30, 2019. The weighted average remaining lease term related to the Company’s leases was 8.7 years as of September 30, 2019. Future minimum lease payments under non-cancellable leases as of September 30, 2019 were as follows: Year Ending December 31, 2019 (excluding the nine months ended September 30, 2019) $ 185 2020 748 2021 682 2022 694 2023 589 Thereafter 2,091 Total future minimum lease payments 4,989 Less imputed interest 687 Total $ 4,302 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2019 | |
Securities [Abstract] | |
Securities | 2. SECURITIES The amortized cost of securities and their approximate fair value at September 30, 2019 and December 31, 2018 were as follows: September 30, 2019 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 28,958 $ 361 $ (14) $ 29,305 States and political subdivisions 3,723 70 (7) 3,786 Total debt securities $ 32,681 $ 431 $ (21) $ 33,091 Mortgage-backed securities: FNMA $ 35,678 $ 455 $ (66) $ 36,067 FHLMC 16,506 122 (21) 16,607 GNMA 3,518 17 (13) 3,522 SBA 14,447 231 (43) 14,635 CMO 30,346 316 (127) 30,535 Total mortgage-backed securities $ 100,495 $ 1,141 $ (270) $ 101,366 Total securities designated as available for sale $ 133,176 $ 1,572 $ (291) $ 134,457 Held to Maturity: Debt securities States and political subdivisions $ 2,520 $ 30 $ (8) $ 2,542 Total securities designated as held to maturity $ 2,520 $ 30 $ (8) $ 2,542 December 31, 2018 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 34,597 $ 2 $ (671) $ 33,928 States and political subdivisions 22,168 69 (64) 22,173 Total debt securities $ 56,765 $ 71 $ (735) $ 56,101 Mortgage-backed securities: FNMA $ 27,747 $ 21 $ (729) $ 27,039 FHLMC 14,645 11 (431) 14,225 GNMA 1,660 6 (36) 1,630 SBA 9,432 - (299) 9,133 CMO 25,025 6 (1,055) 23,976 Total mortgage-backed securities $ 78,509 $ 44 $ (2,550) $ 76,003 Total securities designated as available for sale $ 135,274 $ 115 $ (3,285) $ 132,104 Held to Maturity: Debt securities States and political subdivisions $ 1,685 $ 11 $ (22) $ 1,674 Total securities designated as held to maturity $ 1,685 $ 11 $ (22) $ 1,674 Available for sale securities with a total fair value of $91 million and $94 million at September 30, 2019 and December 31, 2018, respectively, were pledged as collateral to secure public deposits and for other purposes required or permitted by law. The scheduled maturities of debt and mortgage-backed securities at September 30, 2019 and December 31, 2018 are summarized below. All maturity amounts are contractual maturities. Actual maturities may differ from contractual maturities because certain issuers have the right to call or prepay obligations with or without call premiums. September 30, 2019 December 31, 2018 Amortized Estimated Amortized Estimated cost fair value cost fair value (in thousands) (in thousands) Debt securities available for sale: Due in one year or less $ 4,000 $ 3,986 $ 5,074 $ 5,075 Due after one year through five years 6,534 6,566 22,637 22,448 Due after five years through ten years 22,147 22,539 28,870 28,391 Due after ten years - - 184 187 32,681 33,091 56,765 56,101 Mortgage-backed securities available for sale 100,495 101,366 78,509 76,003 Total $ 133,176 $ 134,457 $ 135,274 $ 132,104 Debt securities held to maturity: Due in one year or less $ 1,124 $ 1,125 $ 693 $ 693 Due after one year through five years 861 885 811 811 Due after five years through ten years 54 54 93 89 Due after ten years 481 478 88 81 Total $ 2,520 $ 2,542 $ 1,685 $ 1,674 Contractual maturities of the Company’s mortgage-backed securities generally exceed ten years; however, the effective lives may be significantly shorter due to prepayments of the underlying loans and due to the nature of these securities. Information regarding unrealized losses within the Company’s available for sale and held to maturity securities at September 30, 2019 and December 31, 2018 is summarized below. The securities are primarily U.S. government-guaranteed agency securities or municipal securities. September 30, 2019 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. government agencies $ - $ - $ 3,986 $ (14) $ 3,986 $ (14) States and political subdivisions - - 181 (7) 181 (7) Total debt securities $ - $ - $ 4,167 $ (21) $ 4,167 $ (21) Mortgage-backed securities: FNMA $ 3,386 $ (21) $ 6,181 $ (45) $ 9,567 $ (66) FHLMC 3,046 (7) 1,300 (14) 4,346 (21) GNMA 2,030 (10) 776 (3) 2,806 (13) SBA 3,519 (43) - - 3,519 (43) CMO 1,722 (13) 9,494 (114) 11,216 (127) Total mortgage-backed securities $ 13,703 $ (94) $ 17,751 $ (176) $ 31,454 $ (270) Held to Maturity: Debt securities: States and political subdivisions $ 496 $ (7) $ 423 $ (1) $ 919 $ (8) Total temporarily impaired securities $ 14,199 $ (101) $ 22,341 $ (198) $ 36,540 $ (299) December 31, 2018 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. government agencies $ 9,931 $ (49) $ 21,144 $ (622) $ 31,075 $ (671) States and political subdivisions 5,218 (15) 6,893 (49) 12,111 (64) Total debt securities $ 15,149 $ (64) $ 28,037 $ (671) $ 43,186 $ (735) Mortgage-backed securities: FNMA $ 2,637 $ (21) $ 23,667 $ (708) $ 26,304 $ (729) FHLMC 1,895 (25) 11,899 (406) 13,794 (431) GNMA - - 926 (36) 926 (36) SBA - - 9,133 (299) 9,133 (299) CMO - - 23,127 (1,055) 23,127 (1,055) Total mortgage-backed securities $ 4,532 $ (46) $ 68,752 $ (2,504) $ 73,284 $ (2,550) Held to Maturity: Debt securities: States and political subdivisions $ 156 $ - $ 722 $ (22) $ 878 $ (22) Total temporarily impaired securities $ 19,837 $ (110) $ 97,511 $ (3,197) $ 117,348 $ (3,307) Management has assessed the securities available for sale in an unrealized loss position at September 30, 2019 and December 31, 2018 and determined the decline in fair value below amortized cost to be temporary. In making this determination, management considered the period of time the securities were in a loss position, the percentage decline in comparison to the securities’ amortized cost, and the financial condition of the issuer (primarily government or government-sponsored enterprises). In addition, management does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost. Management believes the decline in fair value is primarily related to market interest rate fluctuations and not to the credit deterioration of the individual issuers. The Company has not recorded any other-than-temporary impairment (“OTTI”) charges as of September 30, 2019 and did not record any OTTI charges during 2018. The credit worthiness of the Company’s securities portfolio is largely reliant on the ability of U.S. government sponsored agencies such as Federal Home Loan Bank (“FHLB”), Federal National Mortgage Association (“FNMA”), Government National Mortgage Association (“GNMA”), and Federal Home Loan Mortgage Corporation (“FHLMC”), and municipalities throughout New York State to meet their obligations. In addition, dysfunctional markets could materially alter the liquidity, interest rate, and pricing risk of the portfolio. The stable past performance is not a guarantee for similar performance of the Company’s securities portfolio in future periods. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Measurement [Abstract] | |
Fair Value Measurement | 3. FAIR VALUE MEASUREMENT Fair value is defined in ASC Topic 820 “Fair Value Measurement” as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs to fair value measurement: Level 1 inputs are quoted prices for identical instruments in active markets; Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 inputs are unobservable inputs. Observable market data should be used when available. FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS The following table presents, for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018, respectively: (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2019 Securities available-for-sale: US government agencies $ - $ 29,305 $ - $ 29,305 States and political subdivisions - 3,786 - 3,786 Mortgage-backed securities - 101,366 - 101,366 Mortgage servicing rights - - 527 527 December 31, 2018 Securities available-for-sale: US government agencies $ - $ 33,928 $ - $ 33,928 States and political subdivisions - 22,173 - 22,173 Mortgage-backed securities - 76,003 - 76,003 Mortgage servicing rights - - 609 609 Securities available for sale Fair values for securities are determined using independent pricing services and market-participating brokers. The Company’s independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, the evaluated pricing applications apply information as applicable through processes, such as benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. In addition, model processes, such as the Option Adjusted Spread model, are used to assess interest rate impact and develop prepayment scenarios. The models and the process take into account market convention. For each asset class, a team of evaluators gathers information from market sources and integrates relevant credit information, perceived market movements and sector news into the evaluated pricing applications and models. The Company’s service provider may occasionally determine that it does not have sufficient verifiable information to value a particular security. In these cases the Company will utilize valuations from another pricing service. Management believes that it has a sufficient understanding of the third party service’s valuation models, assumptions and inputs used in determining the fair value of securities to enable management to maintain an appropriate system of internal control. On a quarterly basis, the Company reviews changes in the market value of its security portfolio. Individual changes in valuations are reviewed for consistency with general interest rate movements and any known credit concerns for specific securities. Additionally, on an annual basis, the Company has its entire security portfolio priced by a second pricing service to determine consistency with another market evaluator. If, during the Company’s review or when comparing with another servicer, a material difference between pricing evaluations were to exist, the Company would submit an inquiry to the service provider regarding the data used to value a particular security. If the Company determines it has market information that would support a different valuation than the initial evaluation it can submit a challenge for a change to that security’s valuation. Securities available for sale are classified as Level 2 in the fair value hierarchy as the valuation provided by the third-party provider uses observable market dat a. Mortgage servicing rights Mortgage servicing rights (“MSRs”) do not trade in an active, open market with readily observable prices. Accordingly, the Company obtains the fair value of the MSRs using a third-party pricing provider. The provider determines the fair value by discounting projected net servicing cash flows of the remaining servicing portfolio. The valuation model used by the provider considers market loan prepayment predictions and other economic factors which management considers to be significant unobservable inputs. The fair value of MSRs is mostly affected by changes in mortgage interest rates since rate changes cause the loan prepayment acceleration factors to increase or decrease. Management has a sufficient understanding of the third party service’s valuation models, assumptions and inputs used in determining the fair value of MSRs to enable management to maintain an appropriate system of internal control. MSRs are classified within Level 3 of the fair value hierarchy as the valuation is model driven and primarily based on unobservable inputs. The following table summarizes the changes in fair value for MSRs: Three months ended September 30, (in thousands) 2019 2018 Mortgage servicing rights - July 1 $ 570 $ 635 Gains/(Losses) included in earnings (71) 3 Additions from loan sales 28 4 Mortgage servicing rights - September 30 $ 527 $ 642 Nine months ended September 30, (in thousands) 2019 2018 Mortgage servicing rights - January 1 $ 609 $ 586 Gains/(Losses) included in earnings (154) 52 Additions from loan sales 72 4 Mortgage servicing rights - September 30 $ 527 $ 642 Quantitative information about the significant unobservable inputs used in the fair value measurement of MSRs at the respective dates is as follows: September 30, 2019 December 31, 2018 Servicing fees 0.25 % 0.25 % Discount rate 9.00 % 9.00 % Prepayment rate (CPR) 8.62 % 6.52 % FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A NONRECURRING BASIS The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The following table presents for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018: (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2019 Collateral dependent impaired loans $ - $ - $ 15,500 $ 15,500 December 31, 2018 Collateral dependent impaired loans $ - $ - $ 20,590 $ 20,590 Collateral dependent impaired loans The Company evaluates and values impaired loans at the time the loan is identified as impaired, and the fair values of such loans are estimated using Level 3 inputs in the fair value hierarchy. Each loan’s collateral has a unique appraisal and management’s discount of the value is based on factors unique to each impaired loan. The significant unobservable input in determining the fair value is management’s subjective discount on appraisals of the collateral securing the loan. Collateral may consist of real estate and/or business assets including equipment, inventory and/or accounts receivable and the value of these assets is determined based on appraisals by qualified licensed appraisers hired by the Company. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, estimated costs to sell, and/or management’s expertise and knowledge of the client and the client’s business. The Company has an appraisal policy in which appraisals are obtained upon a commercial loan being downgraded on the Company’s internal loan rating scale to a special mention or a substandard depending on the amount of the loan, the type of loan and the type of collateral. All impaired commercial loans are graded substandard or worse on the internal loan rating scale. For consumer loans, the Company obtains appraisals when a loan becomes 90 days past due or is determined to be impaired, whichever occurs first. Subsequent to the downgrade or reaching 90 days past due, if the loan remains outstanding and impaired for at least one year more, management may require another follow-up appraisal. Between receipts of updated appraisals, if necessary, management may perform an internal valuation based on any known changing conditions in the marketplace such as sales of similar properties, a change in the condition of the collateral, or feedback from local appraisers. Collateral dependent impaired loans had a gross value of $16. 0 million, with an allowance for loan loss of $ 0.5 million , at September 30, 2019 compared with $21. 7 million and $1.1 million, respectively, at December 31, 2018. FAIR VALUE OF FINANCIAL INSTRUMENTS The table below depicts the estimated fair values of the Company’s financial instruments, including those that are not measured and reported at fair value on a recurring basis or nonrecurring basis. September 30, 2019 December 31, 2018 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 34,344 $ 34,344 $ 39,915 $ 39,915 Level 2: Available for sale securities 134,457 134,457 132,104 132,104 FHLB and FRB stock 3,538 3,538 3,403 3,403 Level 3: Held to maturity securities 2,520 2,542 1,685 1,674 Loans, net 1,204,410 1,214,285 1,141,146 1,131,891 Mortgage servicing rights 527 527 609 609 Financial liabilities: Level 1: Demand deposits $ 271,633 $ 271,633 $ 231,902 $ 231,902 NOW deposits 141,384 141,384 110,450 110,450 Savings deposits 568,156 568,156 571,479 571,479 Level 2: Securities sold under agreement to repurchase 7,418 7,418 3,142 3,142 Other borrowed funds 10,000 9,981 10,000 9,854 Junior subordinated debentures 11,330 11,330 11,330 11,330 Level 3: Time deposits 277,633 278,276 301,227 298,999 |
Loans And The Allowance For Loa
Loans And The Allowance For Loan Losses | 9 Months Ended |
Sep. 30, 2019 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Loans And The Allowance For Loan Losses | 4. LOANS AND THE ALLOWANCE FOR LOAN LOSSES Loan Portfolio Composition The following table presents selected information on the composition of the Company’s loan portfolio as of the dates indicated: September 30, 2019 December 31, 2018 Mortgage loans on real estate: (in thousands) Residential mortgages $ 160,112 $ 158,404 Commercial and multi-family 632,786 592,507 Construction-Residential 890 113 Construction-Commercial 90,825 105,196 Home equities 69,771 70,546 Total real estate loans 954,384 926,766 Commercial and industrial loans 262,144 226,057 Consumer and other loans 1,684 1,520 Net deferred loan origination costs 1,580 1,587 Total gross loans 1,219,792 1,155,930 Allowance for loan losses (15,382) (14,784) Loans, net $ 1,204,410 $ 1,141,146 The Bank sells certain fixed rate residential mortgages to FNMA while maintaining the servicing rights for those mortgages. In the three month and nine month periods ended September 30, 2019, the Bank sold mortgages to FNMA totaling $3.0 million and $7.6 million, respectively, compared with $0.4 million mortgages sold during the three and nine month periods ended September 30, 2018. , The Bank had a loan servicing portfolio principal balance of $74 million and $73 million at September 30, 2019 and December 31, 2018, respectively, upon which it earned servicing fees. The value of the mortgage servicing rights for that portfolio was $0.5 million and $0.6 million at September 30, 2019 and December 31, 2018, respectively. At September 30, 2019 and December 31, 2018 there were $0.5 million and $ 0.4 million in residential mortgages held for sale, respectively. The Company has never been contacted by FNMA to repurchase any loans due to improper documentation or fraud. As noted in Note 1, these financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018. Disclosures related to the basis for accounting for loans, the method for recognizing interest income on loans, the policy for placing loans on nonaccrual status and the subsequent recording of payments and resuming accrual of interest, the policy for determining past due status, a description of the Company’s accounting policies and methodology used to estimate the allowance for loan losses, the policy for charging-off loans, the accounting policies for impaired loans, and more descriptive information on the Company’s credit risk ratings are all contained in the Notes to the Audited Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Unless otherwise noted in this Form 10-Q, the policies and methodology described in the Annual Report for the year ended December 31, 2018 are consistent with those utilized by the Company in the three and nine month periods ended September 30 , 2019. Credit Quality Indicators The Bank monitors the credit risk in its loan portfolio by reviewing certain credit quality indicators (“CQI”). The primary CQI for its commercial mortgage and commercial and industrial (“C&I”) portfolios is the individual loan’s credit risk rating. The following list provides a description of the credit risk ratings that are used internally by the Bank when assessing the adequacy of its allowance for loan losses: · Acceptable or better · Watch · Special Mention · Substandard · Doubtful · Loss The Company’s consumer loans, including residential mortgages and home equities, are not individually risk rated or reviewed in the Company’s loan review process. Unlike commercial customers, consumer loan customers are not required to provide the Company with updated financial information. Consumer loans also carry smaller balances. Given the lack of updated information after the initial underwriting of the loan and small size of individual loans, the Company uses delinquency status as the primary credit quality indicator for consumer loans. However, once a consumer loan is identified as impaired, it is individually evaluated for impairment. The following tables provide data, at the class level, of credit quality indicators of certain loans for the dates specified: September 30, 2019 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 60,844 $ 452,715 $ 513,559 $ 173,384 Watch 20,811 153,660 174,471 70,187 Special Mention 6,191 19,792 25,983 9,373 Substandard 2,979 6,619 9,598 9,200 Doubtful/Loss - - - - Total $ 90,825 $ 632,786 $ 723,611 $ 262,144 December 31, 2018 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 65,932 $ 466,294 $ 532,226 $ 155,687 Watch 30,628 109,409 140,037 57,366 Special Mention - 10,583 10,583 4,105 Substandard 8,636 6,221 14,857 8,870 Doubtful/Loss - - - 29 Total $ 105,196 $ 592,507 $ 697,703 $ 226,057 Past Due Loans The following tables provide an analysis of the age of the recorded investment in loans that are past due as of the dates indicated: September 30, 2019 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 256,920 $ 173 $ 806 $ - $ 4,245 $ 262,144 Residential real estate: Residential 158,290 - 285 - 1,537 160,112 Construction 890 - - - - 890 Commercial real estate: Commercial 627,253 - - - 5,533 632,786 Construction 89,228 - - - 1,597 90,825 Home equities 68,499 345 - - 927 69,771 Consumer and other 1,672 12 - - - 1,684 Total Loans $ 1,202,752 $ 530 $ 1,091 $ - $ 13,839 $ 1,218,212 Note: Loan balances do not include $ 1.6 million in net deferred loan origination costs as of September 30 , 2019. December 31, 2018 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 217,625 $ 6,173 $ 565 $ - $ 1,694 $ 226,057 Residential real estate: Residential 154,063 2,546 332 - 1,463 158,404 Construction 113 - - - - 113 Commercial real estate: Commercial 582,016 4,546 - - 5,945 592,507 Construction 95,204 1,027 329 - 8,636 105,196 Home equities 69,094 123 76 - 1,253 70,546 Consumer and other 1,514 5 1 - - 1,520 Total Loans $ 1,119,629 $ 14,420 $ 1,303 $ - $ 18,991 $ 1,154,343 Note: Loan balances do not include $ 1.6 m illion in net deferred loan origination costs as of December 31, 2018. Allowance for loan losses The following tables present the activity in the allowance for loan losses according to portfolio segment for the nine month periods ended September 30, 2019 and 2018: September 30, 2019 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,368 $ 8,844 $ 106 $ 1,121 $ 345 $ 14,784 Charge-offs (248) (56) (94) - - (398) Recoveries 786 - 13 - - 799 Provision (Credit) 290 152 114 (325) (34) 197 Ending balance $ 5,196 $ 8,940 $ 139 $ 796 $ 311 $ 15,382 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 635 $ 13 $ 21 $ 35 $ - $ 704 Collectively evaluated for impairment 4,561 8,927 118 761 311 14,678 Total $ 5,196 $ 8,940 $ 139 $ 796 $ 311 $ 15,382 Loans: Ending balance: Individually evaluated for impairment $ 6,016 $ 7,708 $ 21 $ 2,915 $ 1,498 $ 18,158 Collectively evaluated for impairment 256,128 715,903 1,663 158,087 68,273 1,200,054 Total $ 262,144 $ 723,611 $ 1,684 $ 161,002 $ 69,771 $ 1,218,212 * Includes construction loans Note: Loan balances do not include $ 1.6 million in net deferred loan origination costs as of September 30, 2019. September 30, 2018 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 5,204 $ 7,409 $ 109 $ 950 $ 347 $ 14,019 Charge-offs (67) (262) (83) (86) (11) (509) Recoveries 18 - 6 - 1 25 Provision (Credit) (574) 1,923 50 290 (11) 1,678 Ending balance $ 4,581 $ 9,070 $ 82 $ 1,154 $ 326 $ 15,213 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 113 $ 950 $ 23 $ 70 $ - $ 1,156 Collectively evaluated for impairment 4,468 8,120 59 1,084 326 14,057 Total $ 4,581 $ 9,070 $ 82 $ 1,154 $ 326 $ 15,213 Loans: Ending balance: Individually evaluated for impairment $ 2,925 $ 18,267 $ 23 $ 2,687 $ 1,907 $ 25,809 Collectively evaluated for impairment 244,216 660,314 1,368 154,062 68,206 1,128,166 Total $ 247,141 $ 678,581 $ 1,391 $ 156,749 $ 70,113 $ 1,153,975 * Includes construction loans Note: Loan balances do not include $ 1.6 million in net deferred loan origination costs as of September 30, 2018. The following tables present the activity in the allowance for loan losses according to portfolio segment for the three month periods ended September 30, 2019 and 2018: September 30, 2019 ($ in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 5,272 $ 8,637 $ 130 $ 883 $ 326 $ 15,248 Charge-offs (91) (55) (40) - - (186) Recoveries 747 - 4 - - 751 Provision (Credit) (732) 358 45 (87) (15) (431) Ending balance $ 5,196 $ 8,940 $ 139 $ 796 $ 311 $ 15,382 September 30, 2018 ($ in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,341 $ 9,445 $ 90 $ 1,025 $ 334 $ 15,235 Charge-offs - (262) (19) - - (281) Recoveries 5 - 2 - - 7 Provision (Credit) 235 (113) 9 129 (8) 252 Ending balance $ 4,581 $ 9,070 $ 82 $ 1,154 $ 326 $ 15,213 Impaired Loans The following tables provide data, at the class level, for impaired loans as of the dates indicated: At September 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 3,096 $ 3,346 $ - $ 3,269 $ 62 $ 92 Residential real estate: Residential 2,576 2,805 - 2,652 105 50 Construction - - - - - - Commercial real estate: Commercial 5,914 6,389 - 6,188 180 30 Construction 1,353 1,353 - 1,353 6 50 Home equities 1,498 1,699 - 1,563 49 25 Consumer and other - - - - - - Total impaired loans $ 14,437 $ 15,592 $ - $ 15,025 $ 402 $ 247 At September 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 2,920 $ 2,991 $ 635 $ 2,990 $ 76 $ 64 Residential real estate: Residential 339 350 35 341 13 1 Construction - - - - - - Commercial real estate: Commercial 197 197 6 197 5 4 Construction 244 246 7 244 4 9 Home equities - - - - - - Consumer and other 21 24 21 22 - 1 Total impaired loans $ 3,721 $ 3,808 $ 704 $ 3,794 $ 98 $ 79 At September 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 6,016 $ 6,337 $ 635 $ 6,259 $ 138 $ 156 Residential real estate: Residential 2,915 3,155 35 2,993 118 51 Construction - - - - - - Commercial real estate: Commercial 6,111 6,586 6 6,385 185 34 Construction 1,597 1,599 7 1,597 10 59 Home equities 1,498 1,699 - 1,563 49 25 Consumer and other 21 24 21 22 - 1 Total impaired loans $ 18,158 $ 19,400 $ 704 $ 18,819 $ 500 $ 326 At December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 1,633 $ 2,611 $ - $ 1,785 $ 116 $ 65 Residential real estate: Residential 2,289 2,483 - 2,337 45 69 Construction - - - - - - Commercial real estate: Commercial 6,538 6,914 - 6,733 220 115 Construction 116 116 - 143 - 12 Home equities 1,887 2,058 - 1,952 71 43 Consumer and other - - - - - - Total impaired loans $ 12,463 $ 14,182 $ - $ 12,950 $ 452 $ 304 At December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 2,068 $ 2,095 $ 249 $ 2,098 $ 17 $ 125 Residential real estate: Residential 525 556 85 520 22 3 Construction - - - - - - Commercial real estate: Commercial - - - - - - Construction 8,636 8,975 716 8,793 379 113 Home equities - - - - - - Consumer and other 23 27 23 23 - 2 Total impaired loans $ 11,252 $ 11,653 $ 1,073 $ 11,434 $ 418 $ 243 At December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 3,701 $ 4,706 $ 249 $ 3,883 $ 133 $ 190 Residential real estate: Residential 2,814 3,039 85 2,857 67 72 Construction - - - - - - Commercial real estate: Commercial 6,538 6,914 - 6,733 220 115 Construction 8,752 9,091 716 8,936 379 125 Home equities 1,887 2,058 - 1,952 71 43 Consumer and other 23 27 23 23 - 2 Total impaired loans $ 23,715 $ 25,835 $ 1,073 $ 24,384 $ 870 $ 547 Troubled debt restructurings The following tables summarize the loans that were classified as troubled debt restructurings as of the dates indicated: September 30, 2019 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,977 $ 206 $ 1,771 $ 65 Residential real estate: Residential 1,832 454 1,378 6 Construction - - - - Commercial real estate: Commercial and multi-family 3,854 3,276 578 - Construction - - - - Home equities 696 125 571 - Consumer and other 21 - 21 21 Total TDR loans $ 8,380 $ 4,061 $ 4,319 $ 92 December 31, 2018 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 2,282 $ 275 $ 2,007 $ 154 Residential real estate: Residential 1,617 266 1,351 14 Construction - - - - Commercial real estate: Commercial and multi-family 4,164 3,571 593 - Construction 8,753 8,637 116 716 Home equities 756 122 634 - Consumer and other 23 - 23 23 Total TDR loans $ 17,595 $ 12,871 $ 4,724 $ 907 Any TDR that is placed on non-accrual is not reverted back to accruing status until the borrower makes timely payments as contracted for at least six months and future collection under the revised terms is probable. All of the Company’s restructurings were allowed in an effort to maximize its ability to collect on loans where borrowers were experiencing financial difficulty. The reserve for a TDR is based upon the present value of the future expected cash flows discounted at the loan’s original effective interest rate or upon the fair value of the collateral less costs to sell, if the loan is deemed collateral dependent. This reserve methodology is used because all TDR loans are considered impaired. As of September 30, 2019, there were no commitments to lend additional funds to debtors owing on loans whose terms have been modified in TDRs. The Company’s TDRs have various agreements that involve deferral of principal payments, or interest-only payments, for a period (usually 12 months or less) to allow the borrower time to improve cash flow or sell the property. Other common concessions leading to the designation of a TDR are lines of credit that are termed-out and/or extensions of maturities at rates that are less than the prevailing market rates given the risk profile of the borrower. The following tables show the data for TDR activity by the type of concession granted to the borrower for the three and nine month periods ended September 30 , 2019 and 2018: Three months ended September 30, 2019 Three months ended September 30, 2018 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings by Type of Concession Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial: Extension of maturity 1 $ 21 $ 21 1 $ 46 $ 46 Term-out line of credit 1 42 42 - - - Residential Real Estate & Construction: - - - - - - Extension of maturity and interest rate reduction 3 307 307 - - - Commercial Real Estate & Construction: Deferral of principal - - - 1 8,768 8,768 Home Equities: - - - - - Extension of maturity and interest rate reduction 1 110 110 - - - Consumer and other loans - - - - - - Nine months ended September 30, 2019 Nine months ended September 30, 2018 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings by Type of Concession Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial: Extension of maturity 1 $ 21 $ 21 1 $ 46 $ 46 Term-out line of credit 1 42 42 1 29 29 Combination of concessions - - - 1 63 63 Residential Real Estate & Construction: Extension of maturity and interest rate reduction 3 307 307 - - - Commercial Real Estate & Construction: Deferral of principal - - - 1 8,768 8,768 Extension of maturity - - - 1 181 181 Combination of concessions - - - 1 154 154 Home Equities: Deferral of principal - - - 1 100 100 Extension of maturity and interest rate reduction 3 390 390 - - - Consumer and other loans - - - - - - The general practice of the Bank is to work with borrowers so that they are able to repay their loan in full. If a borrower continues to be delinquent or cannot meet the terms of a TDR and the loan is determined to be uncollectible, the loan will be charged-off to its collateral value. A loan is considered in default when the loan is 90 days past due. Loans which were classified as TDRs during the previous 12 months which defaulted during the nine month periods ended September 30, 2019 and 2018 were not material. |
Common Equity And Earnings Per
Common Equity And Earnings Per Share Data | 9 Months Ended |
Sep. 30, 2019 | |
Common Equity And Earnings Per Share Data [Abstract] | |
Common Equity And Earnings Per Share Data | 5. COMMON EQUITY AND EARNINGS PER SHARE DATA The common stock per share information is based upon the weighted average number of shares outstanding during each period. For the three and nine month periods ended September 30 , 2019, the Company had an average of 57,899 and 68,660 dilutive shares outstanding, respectively. The Company had an average of 116,504 and 125,801 dilutive shares outstanding for the three and nine month periods ended September 30, 2018. Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive and not included in calculating diluted earnings per share. For the three and nine month periods ended September 30 , 2019, there was an average of 82,642 and 85,579 potentially anti-dilutive shares outstanding, respectively, that were not included in calculating diluted earnings per share because their effect was anti-dilutive. For the three and nine month periods ended September 30, 2018 there were no anti-dilutive shares outstanding. |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2019 | |
Other Comprehensive Income [Abstract] | |
Other Comprehensive Income | 6. OTHER COMPREHENSIVE INCOME The following tables summarize the changes in the components of accumulated other comprehensive income (loss) during the three and nine month periods ended September 30 , 2019 and 2018: Balance at June 30, 2019 Net Change Balance at September 30, 2019 (in thousands) Net unrealized gain on investment securities $ 426 $ 523 $ 949 Net defined benefit pension plan adjustments (2,871) 68 (2,803) Total $ (2,445) $ 591 $ (1,854) Balance at June 30, 2018 Net Change Balance at September 30, 2018 (in thousands) Net unrealized loss on investment securities $ (3,093) $ (738) $ (3,831) Net defined benefit pension plan adjustments (2,290) 40 (2,250) Total $ (5,383) $ (698) $ (6,081) Balance at December 31, 2018 Net Change Balance at September 30, 2019 (in thousands) Net unrealized (loss) gain on investment securities $ (2,348) $ 3,297 $ 949 Net defined benefit pension plan adjustments (3,005) 202 (2,803) Total $ (5,353) $ 3,499 $ (1,854) Balance at December 31, 2017 Net Change Balance at September 30, 2018 (in thousands) Net unrealized loss on investment securities $ (1,049) $ (2,782) $ (3,831) Net defined benefit pension plan adjustments (2,368) 118 (2,250) Total $ (3,417) $ (2,664) $ (6,081) Three months ended September 30, 2019 Three months ended September 30, 2018 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized gain (loss) on investment securities: Unrealized gain (loss) on investment securities $ 705 $ (182) $ 523 $ (1,002) $ 264 $ (738) Defined benefit pension plan adjustments: Reclassifications from accumulated other comprehensive income for gains Amortization of prior service cost (a) $ 7 $ (1) $ 6 $ 8 $ (1) $ 7 Amortization of actuarial loss (a) 82 (20) 62 43 (10) 33 Net change 89 (21) 68 51 (11) 40 Other comprehensive income (loss) $ 794 $ (203) $ 591 $ (951) $ 253 $ (698) (a) Included in net periodic pension cost, as described in Note 9 – “Net Periodic Benefit Costs” Nine months ended September 30, 2019 Nine months ended September 30, 2018 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized gain (loss) on investment securities: Unrealized gain (loss) on investment securities $ 4,451 $ (1,154) $ 3,297 $ (3,761) $ 979 $ (2,782) Defined benefit pension plan adjustments: Reclassifications from accumulated other comprehensive income for gains Amortization of prior service cost (a) $ 23 $ (6) $ 17 $ 24 $ (6) $ 18 Amortization of actuarial loss (a) 248 (63) 185 127 (27) 100 Net change 271 (69) 202 151 (33) 118 Other comprehensive income (loss) $ 4,722 $ (1,223) $ 3,499 $ (3,610) $ 946 $ (2,664) (a) Included in net periodic pension cost, as described in Note 9 – “Net Periodic Benefit Costs” |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2019 | |
Segment Information [Abstract] | |
Segment Information | 7. SEGMENT INFORMATION The Company comprises two primary business segments, banking and insurance agency activities. The following tables set forth information regarding these segments for the three and nine month periods ended September 30 , 2019 and 2018. Three months ended September 30, 2019 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 13,652 $ (31) $ 13,621 (Credit) provision for loan losses (431) - (431) Net interest income (expense) after provision for loan losses 14,083 (31) 14,052 Non-interest income 1,777 162 1,939 Insurance service and fees 130 3,095 3,225 Amortization expense - 112 112 Non-interest expense 9,778 2,386 12,164 Income before income taxes 6,212 728 6,940 Income tax provision 1,587 189 1,776 Net income $ 4,625 $ 539 $ 5,164 Three months ended September 30, 2018 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 12,118 $ (32) $ 12,086 Provision for loan losses 252 - 252 Net interest income (expense) after provision for loan losses 11,866 (32) 11,834 Non-interest income 1,549 - 1,549 Insurance service and fees 148 3,067 3,215 Amortization expense - 112 112 Non-interest expense 9,247 2,098 11,345 Income before income taxes 4,316 825 5,141 Income tax provision 116 230 346 Net income $ 4,200 $ 595 $ 4,795 Nine months ended September 30, 2019 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 39,360 $ (97) $ 39,263 Provision for loan losses 197 - 197 Net interest income (expense) after provision for loan losses 39,163 (97) 39,066 Non-interest income 5,359 162 5,521 Insurance service and fees 377 8,191 8,568 Amortization expense - 336 336 Non-interest expense 28,775 6,538 35,313 Income before income taxes 16,124 1,382 17,506 Income tax provision 3,880 360 4,240 Net income $ 12,244 $ 1,022 $ 13,266 Nine months ended September 30, 2018 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 35,822 $ (88) $ 35,734 Provision for loan losses 1,678 - 1,678 Net interest income (expense) after provision for loan losses 34,144 (88) 34,056 Non-interest income 5,057 - 5,057 Insurance service and fees 449 6,683 7,132 Amortization expense - 168 168 Non-interest expense 26,436 5,257 31,693 Income before income taxes 13,214 1,170 14,384 Income tax provision 2,159 320 2,479 Net income $ 11,055 $ 850 $ 11,905 |
Contingent Liabilities And Comm
Contingent Liabilities And Commitments | 9 Months Ended |
Sep. 30, 2019 | |
Contingent Liabilities And Commitments [Abstract] | |
Contingent Liabilities And Commitments | 8. CONTINGENT LIABILITIES AND COMMITMENTS The unaudited consolidated financial statements do not reflect various commitments and contingent liabilities, which arise in the normal course of business, and which involve elements of credit risk, interest rate risk and liquidity risk. These commitments and contingent liabilities consist of commitments to extend credit and standby letters of credit. A summary of the Bank’s commitments and contingent liabilities is as follows: September 30, December 31, 2019 2018 (in thousands) Commitments to extend credit $ 347,081 $ 290,785 Standby letters of credit 4,432 3,379 Total $ 351,513 $ 294,164 Commitments to extend credit and standby letters of credit include some exposure to credit loss in the event of nonperformance by the customer. The Bank’s credit policies and procedures for credit commitments and financial guarantees are the same as those for extensions of credit that are recorded on the Company’s unaudited consolidated balance sheets. Because these instruments have fixed maturity dates, and because they may expire without being drawn upon, they do not necessarily represent cash requirements of the Bank. The Bank did not incur any losses on its commitments and did no t record a reserve for its commitments during the first nine months of 2019 or during 2018. Certain lending commitments for construction residential mortgage loans are considered derivative instruments under the guidelines of GAAP. The changes in the fair value of these commitments, due to interest rate risk, are not recorded on the consolidated balance sheets as the fair value of these derivatives is not considered to be material. |
Net Periodic Benefit Costs
Net Periodic Benefit Costs | 9 Months Ended |
Sep. 30, 2019 | |
Net Periodic Benefit Costs [Abstract] | |
Net Periodic Benefit Costs | 9. NET PERIODIC BENEFIT COSTS On January 31, 2008, the Bank froze its defined benefit pension plan. The plan covered substantially all Bank employees. The plan provides benefits that are based on the employees’ compensation and years of service. Under the freeze, eligible employees will receive, at retirement, the benefits already earned through January 31, 2008, but have not accrued any additional benefits since then. As a result, service cost is no longer incurred. The Bank uses an actuarial method of amortizing prior service cost and unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank used recognized the prior service cost and net gains or losses over the average remaining service period of active employees. The Bank also maintains a nonqualified supplemental executive retirement plan covering certain members of the Company’s senior management. The Bank uses an actuarial method of amortizing unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank uses recognizes the net gains or losses over the average remaining service period of active employees. The following table presents the net periodic cost for the Bank’s defined benefit pension plan and supplemental executive retirement plan for the three and nine month periods ended September 30 , 2019 and 201 8 : Three months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2019 2018 2019 2018 Service cost $ - $ - $ 37 $ 47 Interest cost 55 51 51 34 Expected return on plan assets (70) (78) - - Amortization of prior service cost - - 7 8 Amortization of the net loss 24 21 58 22 Net periodic cost (benefit) $ 9 $ (6) $ 153 $ 111 Nine months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2019 2018 2019 2018 Service cost $ - $ - $ 109 $ 141 Interest cost 165 153 151 102 Expected return on plan assets (208) (234) - - Amortization of prior service cost - - 23 24 Amortization of the net loss 72 63 176 64 Net periodic cost (benefit) $ 29 $ (18) $ 459 $ 331 The components of net periodic benefit cost other than the service cost component are included in the line item “other expense” in the income statement. |
Revenue Recognition Of Non-Inte
Revenue Recognition Of Non-Interest Income | 9 Months Ended |
Sep. 30, 2019 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Revenue Recognition Of Non-Interest Income | 10. REVENUE RECOGNITION OF NON-INTEREST INCOME A description of the Company’s material revenue streams in non-interest income accounted for under ASC 606 follows: Insurance Service and Fees: Insurance services revenue relates to various revenue streams from services provided by TEA and the Bank: · TEA earns commission revenue from selling commercial and personal property and casualty (“P&C”) insurance as well as employee benefits (“EB”) solutions to commercial customers. TEA has agreements with various insurance companies to sell policies to customers on behalf of the carriers. The performance obligation for TEA is to sell annual P&C policies to commercial customers and consumers. This performance obligation is met when a new policy is sold or when an existing policy renews. The policies are generally one year terms. In the agreements with the respective insurance companies, a commission rate is agreed upon. The commission is recognized at the time of the sale of the policy or when a policy renews. TEA has signed contracts with insurance carriers that enable TEA to sell benefit plans to commercial customers on behalf of the insurance carriers. The performance obligation for TEA is to sell the plans to commercial customers. After the initial sale when the customer signs an agreement to purchase the offered benefit plan, the performance obligation is met each month when a customer continues utilizing benefit plans from the carrier. The customer does not commit to a specific length of time with the carrier. In the agreements with the respective insurance companies, a commission rate is agreed upon. Revenue is recognized each month when the customer continues with the benefit plan sold by TEA. · TEA also earns contingent profit sharing revenue. The insurance companies measure the loss ratio for TEA’s customers and pay TEA according to how profitable TEA customers are. TEA has signed written agreements with insurance carriers that document payouts to TEA based on the loss ratios of its customers. The performance obligation for TEA is to maintain a customer base with loss ratios below the agreed upon thresholds. In the contracts with the insurance companies, payout rates based on loss ratios are documented. The consideration is variable as loss ratios vary based on customer experience. TEA’s performance obligation is over the course of the year as its customers’ performance with insurance carriers is measured throughout the year as losses occur. Due to the variable nature of contingent profit sharing revenue, TEA will accrue contingent profit sharing revenue throughout the year based on recent historical results. As loss events occur and overall performance becomes known to TEA, accrual adjustments will be made until the cash is ultimately received. · Financial services commission revenue from the Bank related to wealth management such as life insurance, annuities, and mutual funds sales is also included in the “insurance service and fees” line of the income statement. The Company earns wealth management fees from its contracts with customers for certain financial services. Fees that are transaction-based are recognized at the point in time that the transaction is executed. Other related services provided include financial planning services and the fees the Bank earns are recognized when the services are rendered. · Insurance claims services revenue is recorded at FCS. FCS has signed agreements with insurance companies to perform claims services including investigative and adjustment services related to residential and commercial lines. The performance obligation is for FCS to investigate the insurance claims and inspecting the damage to determine the extent of the insurance company’s liability. FCS is paid based on time and materials expended to investigate the claim. The rates paid are determined in the agreement between FCS and the respective insurance companies. Upon completion of its claims inspection work, FCS bills the insurance company for services rendered and recognizes the revenue earned. A disaggregation of the total insurance service and other fees for the three and nine month periods ended September 30, 2019 and 2018 is provided in the tables below: Three months ended September 30, 2019 2018 (in thousands) Commercial property and casualty insurance commissions $ 1,382 $ 1,330 Personal property and casualty insurance commissions 863 917 Employee benefits sales commissions 287 241 Profit sharing and contingent revenue 430 486 Wealth management and other financial services 142 151 Insurance claims services revenue 96 65 Other insurance-related revenue 25 25 Total insurance service and other fees $ 3,225 $ 3,215 Nine months ended September 30, 2019 2018 (in thousands) Commercial property and casualty insurance commissions $ 3,267 $ 2,665 Personal property and casualty insurance commissions 2,618 2,249 Employee benefits sales commissions 869 664 Profit sharing and contingent revenue 939 790 Wealth management and other financial services 405 462 Insurance claims services revenue 397 234 Other insurance-related revenue 73 68 Total insurance service and other fees $ 8,568 $ 7,132 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2019 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 11. RECENT ACCOUNTING PRONOUNCEMENTS Note 1 contains details on the impact of accounting pronouncements adopted during the nine months ended September 30, 2019 . The following standards will be adopted in future periods. ASUs not listed below are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments . Current GAAP requires an “incurred loss” methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. Both financial institutions and users of their financial statements expressed concern that current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the “probable” threshold. The main objective of this ASU (commonly known as the Current Expected Credit Loss Impairment Model, or CECL, in the industry) is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in CECL replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The life of loan loss concept presents complexities that can decrease capital, and add both volatility to the allowance for loan losses estimates and additional costs. Changes in expectations of future economic conditions will play a large role in CECL and can significantly affect the credit loss estimate. The Company is developing its approach for determining expected credit losses under the new guidance, including the licensing of new software and the development of processes to track loan performance. The total impact of CECL to the Company’s financial statements is unknown but may be material. On October 16, 2019, the FASB affirmed its decision to amend the effective date for the amendments in CECL for smaller reporting companies to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is allowed for fiscal years beginning after December 15, 2018. The Company intends to early adopt CECL effective January 1, 2021. Implementation of CECL will be a significant project for the Company through the projected implementation date of January 1, 202 1 . ASU 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement – The amendments in this ASU modify the disclosure requirements on fair value measurements. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Adoption of this ASU will impact the Company’s disclosures but will not impact the Company’s financial condition, results of operations or cash flows. ASU 2018-14, Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans – The amendments in this ASU remove disclosures that no longer are considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. The amendments in this ASU are effective for fiscal years ending after December 15, 2020. Adoption of this ASU will impact the Company’s disclosures but will not impact the Company’s financial condition, results of operations or cash flows. |
Organization And Summary Of S_2
Organization And Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2019 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And Summary Of Significant Accounting Policies | The accounting and reporting policies followed by Evans Bancorp, Inc. (the “Company”), a financial holding company, and its two direct, wholly-owned subsidiaries: (i) Evans Bank, National Association (the “Bank”), and the Bank’s subsidiaries, Evans National Leasing, Inc. (“ENL”), and Evans National Holding Corp. (“ENHC”); and (ii) Evans National Financial Services, LLC (“ENFS”), and ENFS’s subsidiary, The Evans Agency, LLC (“TEA”), and TEA’s subsidiaries, Frontier Claims Services, Inc. (“FCS”) and ENB Associates Inc. (“ENBA”), in the preparation of the accompanying interim unaudited consolidated financial statements conform with U.S. generally accepted accounting principles (“GAAP”) and with general practice within the industries in which it operates. Except as the context otherwise requires, the Company and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” The results of operations for the three and nine month periods ended September 30, 2019 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 (“10-K”). The Company’s significant accounting policies are disclosed in Note 1 to the 10-K. The Financial Accounting Standards Board (“FASB”) establishes changes to U.S. GAAP in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs when they are issued by FASB. ASUs listed below were adopted by the Company during its current fiscal year. ASUs not listed below did not have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. |
Revenue Recognition Of Non-In_2
Revenue Recognition Of Non-Interest Income (Policy) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Revenue Recognition | A description of the Company’s material revenue streams in non-interest income accounted for under ASC 606 follows: Insurance Service and Fees: Insurance services revenue relates to various revenue streams from services provided by TEA and the Bank: · TEA earns commission revenue from selling commercial and personal property and casualty (“P&C”) insurance as well as employee benefits (“EB”) solutions to commercial customers. TEA has agreements with various insurance companies to sell policies to customers on behalf of the carriers. The performance obligation for TEA is to sell annual P&C policies to commercial customers and consumers. This performance obligation is met when a new policy is sold or when an existing policy renews. The policies are generally one year terms. In the agreements with the respective insurance companies, a commission rate is agreed upon. The commission is recognized at the time of the sale of the policy or when a policy renews. TEA has signed contracts with insurance carriers that enable TEA to sell benefit plans to commercial customers on behalf of the insurance carriers. The performance obligation for TEA is to sell the plans to commercial customers. After the initial sale when the customer signs an agreement to purchase the offered benefit plan, the performance obligation is met each month when a customer continues utilizing benefit plans from the carrier. The customer does not commit to a specific length of time with the carrier. In the agreements with the respective insurance companies, a commission rate is agreed upon. Revenue is recognized each month when the customer continues with the benefit plan sold by TEA. · TEA also earns contingent profit sharing revenue. The insurance companies measure the loss ratio for TEA’s customers and pay TEA according to how profitable TEA customers are. TEA has signed written agreements with insurance carriers that document payouts to TEA based on the loss ratios of its customers. The performance obligation for TEA is to maintain a customer base with loss ratios below the agreed upon thresholds. In the contracts with the insurance companies, payout rates based on loss ratios are documented. The consideration is variable as loss ratios vary based on customer experience. TEA’s performance obligation is over the course of the year as its customers’ performance with insurance carriers is measured throughout the year as losses occur. Due to the variable nature of contingent profit sharing revenue, TEA will accrue contingent profit sharing revenue throughout the year based on recent historical results. As loss events occur and overall performance becomes known to TEA, accrual adjustments will be made until the cash is ultimately received. · Financial services commission revenue from the Bank related to wealth management such as life insurance, annuities, and mutual funds sales is also included in the “insurance service and fees” line of the income statement. The Company earns wealth management fees from its contracts with customers for certain financial services. Fees that are transaction-based are recognized at the point in time that the transaction is executed. Other related services provided include financial planning services and the fees the Bank earns are recognized when the services are rendered. · Insurance claims services revenue is recorded at FCS. FCS has signed agreements with insurance companies to perform claims services including investigative and adjustment services related to residential and commercial lines. The performance obligation is for FCS to investigate the insurance claims and inspecting the damage to determine the extent of the insurance company’s liability. FCS is paid based on time and materials expended to investigate the claim. The rates paid are determined in the agreement between FCS and the respective insurance companies. Upon completion of its claims inspection work, FCS bills the insurance company for services rendered and recognizes the revenue earned. |
Organization And Summary Of S_3
Organization And Summary Of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Schedule Of Future Minimum Lease Payments | Year Ending December 31, 2019 (excluding the nine months ended September 30, 2019) $ 185 2020 748 2021 682 2022 694 2023 589 Thereafter 2,091 Total future minimum lease payments 4,989 Less imputed interest 687 Total $ 4,302 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Securities [Abstract] | |
Schedule Of Amortized Cost And Approximate Fair Value Of Securities | September 30, 2019 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 28,958 $ 361 $ (14) $ 29,305 States and political subdivisions 3,723 70 (7) 3,786 Total debt securities $ 32,681 $ 431 $ (21) $ 33,091 Mortgage-backed securities: FNMA $ 35,678 $ 455 $ (66) $ 36,067 FHLMC 16,506 122 (21) 16,607 GNMA 3,518 17 (13) 3,522 SBA 14,447 231 (43) 14,635 CMO 30,346 316 (127) 30,535 Total mortgage-backed securities $ 100,495 $ 1,141 $ (270) $ 101,366 Total securities designated as available for sale $ 133,176 $ 1,572 $ (291) $ 134,457 Held to Maturity: Debt securities States and political subdivisions $ 2,520 $ 30 $ (8) $ 2,542 Total securities designated as held to maturity $ 2,520 $ 30 $ (8) $ 2,542 December 31, 2018 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 34,597 $ 2 $ (671) $ 33,928 States and political subdivisions 22,168 69 (64) 22,173 Total debt securities $ 56,765 $ 71 $ (735) $ 56,101 Mortgage-backed securities: FNMA $ 27,747 $ 21 $ (729) $ 27,039 FHLMC 14,645 11 (431) 14,225 GNMA 1,660 6 (36) 1,630 SBA 9,432 - (299) 9,133 CMO 25,025 6 (1,055) 23,976 Total mortgage-backed securities $ 78,509 $ 44 $ (2,550) $ 76,003 Total securities designated as available for sale $ 135,274 $ 115 $ (3,285) $ 132,104 Held to Maturity: Debt securities States and political subdivisions $ 1,685 $ 11 $ (22) $ 1,674 Total securities designated as held to maturity $ 1,685 $ 11 $ (22) $ 1,674 |
Scheduled Maturities Of Debt And Mortgage-Backed Securities | September 30, 2019 December 31, 2018 Amortized Estimated Amortized Estimated cost fair value cost fair value (in thousands) (in thousands) Debt securities available for sale: Due in one year or less $ 4,000 $ 3,986 $ 5,074 $ 5,075 Due after one year through five years 6,534 6,566 22,637 22,448 Due after five years through ten years 22,147 22,539 28,870 28,391 Due after ten years - - 184 187 32,681 33,091 56,765 56,101 Mortgage-backed securities available for sale 100,495 101,366 78,509 76,003 Total $ 133,176 $ 134,457 $ 135,274 $ 132,104 Debt securities held to maturity: Due in one year or less $ 1,124 $ 1,125 $ 693 $ 693 Due after one year through five years 861 885 811 811 Due after five years through ten years 54 54 93 89 Due after ten years 481 478 88 81 Total $ 2,520 $ 2,542 $ 1,685 $ 1,674 |
Unrealized Losses On Securities | September 30, 2019 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. government agencies $ - $ - $ 3,986 $ (14) $ 3,986 $ (14) States and political subdivisions - - 181 (7) 181 (7) Total debt securities $ - $ - $ 4,167 $ (21) $ 4,167 $ (21) Mortgage-backed securities: FNMA $ 3,386 $ (21) $ 6,181 $ (45) $ 9,567 $ (66) FHLMC 3,046 (7) 1,300 (14) 4,346 (21) GNMA 2,030 (10) 776 (3) 2,806 (13) SBA 3,519 (43) - - 3,519 (43) CMO 1,722 (13) 9,494 (114) 11,216 (127) Total mortgage-backed securities $ 13,703 $ (94) $ 17,751 $ (176) $ 31,454 $ (270) Held to Maturity: Debt securities: States and political subdivisions $ 496 $ (7) $ 423 $ (1) $ 919 $ (8) Total temporarily impaired securities $ 14,199 $ (101) $ 22,341 $ (198) $ 36,540 $ (299) December 31, 2018 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. government agencies $ 9,931 $ (49) $ 21,144 $ (622) $ 31,075 $ (671) States and political subdivisions 5,218 (15) 6,893 (49) 12,111 (64) Total debt securities $ 15,149 $ (64) $ 28,037 $ (671) $ 43,186 $ (735) Mortgage-backed securities: FNMA $ 2,637 $ (21) $ 23,667 $ (708) $ 26,304 $ (729) FHLMC 1,895 (25) 11,899 (406) 13,794 (431) GNMA - - 926 (36) 926 (36) SBA - - 9,133 (299) 9,133 (299) CMO - - 23,127 (1,055) 23,127 (1,055) Total mortgage-backed securities $ 4,532 $ (46) $ 68,752 $ (2,504) $ 73,284 $ (2,550) Held to Maturity: Debt securities: States and political subdivisions $ 156 $ - $ 722 $ (22) $ 878 $ (22) Total temporarily impaired securities $ 19,837 $ (110) $ 97,511 $ (3,197) $ 117,348 $ (3,307) |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Financial Instruments Measured At Fair Value On Recurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2019 Securities available-for-sale: US government agencies $ - $ 29,305 $ - $ 29,305 States and political subdivisions - 3,786 - 3,786 Mortgage-backed securities - 101,366 - 101,366 Mortgage servicing rights - - 527 527 December 31, 2018 Securities available-for-sale: US government agencies $ - $ 33,928 $ - $ 33,928 States and political subdivisions - 22,173 - 22,173 Mortgage-backed securities - 76,003 - 76,003 Mortgage servicing rights - - 609 609 |
Quantitative Information About Significant Unobservable Inputs For MSRs | September 30, 2019 December 31, 2018 Servicing fees 0.25 % 0.25 % Discount rate 9.00 % 9.00 % Prepayment rate (CPR) 8.62 % 6.52 % |
Financial Instruments Measured At Fair Value On Nonrecurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2019 Collateral dependent impaired loans $ - $ - $ 15,500 $ 15,500 December 31, 2018 Collateral dependent impaired loans $ - $ - $ 20,590 $ 20,590 |
Estimated Fair Values Of Financial Instruments | September 30, 2019 December 31, 2018 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 34,344 $ 34,344 $ 39,915 $ 39,915 Level 2: Available for sale securities 134,457 134,457 132,104 132,104 FHLB and FRB stock 3,538 3,538 3,403 3,403 Level 3: Held to maturity securities 2,520 2,542 1,685 1,674 Loans, net 1,204,410 1,214,285 1,141,146 1,131,891 Mortgage servicing rights 527 527 609 609 Financial liabilities: Level 1: Demand deposits $ 271,633 $ 271,633 $ 231,902 $ 231,902 NOW deposits 141,384 141,384 110,450 110,450 Savings deposits 568,156 568,156 571,479 571,479 Level 2: Securities sold under agreement to repurchase 7,418 7,418 3,142 3,142 Other borrowed funds 10,000 9,981 10,000 9,854 Junior subordinated debentures 11,330 11,330 11,330 11,330 Level 3: Time deposits 277,633 278,276 301,227 298,999 |
Mortgage Servicing Rights [Member] | |
Summary Of Changes In Fair Value At Level 3 | Three months ended September 30, (in thousands) 2019 2018 Mortgage servicing rights - July 1 $ 570 $ 635 Gains/(Losses) included in earnings (71) 3 Additions from loan sales 28 4 Mortgage servicing rights - September 30 $ 527 $ 642 Nine months ended September 30, (in thousands) 2019 2018 Mortgage servicing rights - January 1 $ 609 $ 586 Gains/(Losses) included in earnings (154) 52 Additions from loan sales 72 4 Mortgage servicing rights - September 30 $ 527 $ 642 |
Loans And The Allowance For L_2
Loans And The Allowance For Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Schedule Of Loan Portfolio Composition | September 30, 2019 December 31, 2018 Mortgage loans on real estate: (in thousands) Residential mortgages $ 160,112 $ 158,404 Commercial and multi-family 632,786 592,507 Construction-Residential 890 113 Construction-Commercial 90,825 105,196 Home equities 69,771 70,546 Total real estate loans 954,384 926,766 Commercial and industrial loans 262,144 226,057 Consumer and other loans 1,684 1,520 Net deferred loan origination costs 1,580 1,587 Total gross loans 1,219,792 1,155,930 Allowance for loan losses (15,382) (14,784) Loans, net $ 1,204,410 $ 1,141,146 |
Data, At Class Level, Of Credit Quality Indicators Of Certain Loans | September 30, 2019 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 60,844 $ 452,715 $ 513,559 $ 173,384 Watch 20,811 153,660 174,471 70,187 Special Mention 6,191 19,792 25,983 9,373 Substandard 2,979 6,619 9,598 9,200 Doubtful/Loss - - - - Total $ 90,825 $ 632,786 $ 723,611 $ 262,144 December 31, 2018 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 65,932 $ 466,294 $ 532,226 $ 155,687 Watch 30,628 109,409 140,037 57,366 Special Mention - 10,583 10,583 4,105 Substandard 8,636 6,221 14,857 8,870 Doubtful/Loss - - - 29 Total $ 105,196 $ 592,507 $ 697,703 $ 226,057 |
Recorded Investment In Loans Past Due | September 30, 2019 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 256,920 $ 173 $ 806 $ - $ 4,245 $ 262,144 Residential real estate: Residential 158,290 - 285 - 1,537 160,112 Construction 890 - - - - 890 Commercial real estate: Commercial 627,253 - - - 5,533 632,786 Construction 89,228 - - - 1,597 90,825 Home equities 68,499 345 - - 927 69,771 Consumer and other 1,672 12 - - - 1,684 Total Loans $ 1,202,752 $ 530 $ 1,091 $ - $ 13,839 $ 1,218,212 Note: Loan balances do not include $ 1.6 million in net deferred loan origination costs as of September 30 , 2019. December 31, 2018 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 217,625 $ 6,173 $ 565 $ - $ 1,694 $ 226,057 Residential real estate: Residential 154,063 2,546 332 - 1,463 158,404 Construction 113 - - - - 113 Commercial real estate: Commercial 582,016 4,546 - - 5,945 592,507 Construction 95,204 1,027 329 - 8,636 105,196 Home equities 69,094 123 76 - 1,253 70,546 Consumer and other 1,514 5 1 - - 1,520 Total Loans $ 1,119,629 $ 14,420 $ 1,303 $ - $ 18,991 $ 1,154,343 Note: Loan balances do not include $ 1.6 m illion in net deferred loan origination costs as of December 31, 2018. |
Schedule Of Allowance For Loan Losses According To Portfolio Segment | The following tables present the activity in the allowance for loan losses according to portfolio segment for the nine month periods ended September 30, 2019 and 2018: September 30, 2019 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,368 $ 8,844 $ 106 $ 1,121 $ 345 $ 14,784 Charge-offs (248) (56) (94) - - (398) Recoveries 786 - 13 - - 799 Provision (Credit) 290 152 114 (325) (34) 197 Ending balance $ 5,196 $ 8,940 $ 139 $ 796 $ 311 $ 15,382 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 635 $ 13 $ 21 $ 35 $ - $ 704 Collectively evaluated for impairment 4,561 8,927 118 761 311 14,678 Total $ 5,196 $ 8,940 $ 139 $ 796 $ 311 $ 15,382 Loans: Ending balance: Individually evaluated for impairment $ 6,016 $ 7,708 $ 21 $ 2,915 $ 1,498 $ 18,158 Collectively evaluated for impairment 256,128 715,903 1,663 158,087 68,273 1,200,054 Total $ 262,144 $ 723,611 $ 1,684 $ 161,002 $ 69,771 $ 1,218,212 * Includes construction loans Note: Loan balances do not include $ 1.6 million in net deferred loan origination costs as of September 30, 2019. September 30, 2018 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 5,204 $ 7,409 $ 109 $ 950 $ 347 $ 14,019 Charge-offs (67) (262) (83) (86) (11) (509) Recoveries 18 - 6 - 1 25 Provision (Credit) (574) 1,923 50 290 (11) 1,678 Ending balance $ 4,581 $ 9,070 $ 82 $ 1,154 $ 326 $ 15,213 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 113 $ 950 $ 23 $ 70 $ - $ 1,156 Collectively evaluated for impairment 4,468 8,120 59 1,084 326 14,057 Total $ 4,581 $ 9,070 $ 82 $ 1,154 $ 326 $ 15,213 Loans: Ending balance: Individually evaluated for impairment $ 2,925 $ 18,267 $ 23 $ 2,687 $ 1,907 $ 25,809 Collectively evaluated for impairment 244,216 660,314 1,368 154,062 68,206 1,128,166 Total $ 247,141 $ 678,581 $ 1,391 $ 156,749 $ 70,113 $ 1,153,975 * Includes construction loans Note: Loan balances do not include $ 1.6 million in net deferred loan origination costs as of September 30, 2018. The following tables present the activity in the allowance for loan losses according to portfolio segment for the three month periods ended September 30, 2019 and 2018: September 30, 2019 ($ in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 5,272 $ 8,637 $ 130 $ 883 $ 326 $ 15,248 Charge-offs (91) (55) (40) - - (186) Recoveries 747 - 4 - - 751 Provision (Credit) (732) 358 45 (87) (15) (431) Ending balance $ 5,196 $ 8,940 $ 139 $ 796 $ 311 $ 15,382 September 30, 2018 ($ in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,341 $ 9,445 $ 90 $ 1,025 $ 334 $ 15,235 Charge-offs - (262) (19) - - (281) Recoveries 5 - 2 - - 7 Provision (Credit) 235 (113) 9 129 (8) 252 Ending balance $ 4,581 $ 9,070 $ 82 $ 1,154 $ 326 $ 15,213 |
Data, At Class Level, Of Impaired Loans | At September 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 3,096 $ 3,346 $ - $ 3,269 $ 62 $ 92 Residential real estate: Residential 2,576 2,805 - 2,652 105 50 Construction - - - - - - Commercial real estate: Commercial 5,914 6,389 - 6,188 180 30 Construction 1,353 1,353 - 1,353 6 50 Home equities 1,498 1,699 - 1,563 49 25 Consumer and other - - - - - - Total impaired loans $ 14,437 $ 15,592 $ - $ 15,025 $ 402 $ 247 At September 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 2,920 $ 2,991 $ 635 $ 2,990 $ 76 $ 64 Residential real estate: Residential 339 350 35 341 13 1 Construction - - - - - - Commercial real estate: Commercial 197 197 6 197 5 4 Construction 244 246 7 244 4 9 Home equities - - - - - - Consumer and other 21 24 21 22 - 1 Total impaired loans $ 3,721 $ 3,808 $ 704 $ 3,794 $ 98 $ 79 At September 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 6,016 $ 6,337 $ 635 $ 6,259 $ 138 $ 156 Residential real estate: Residential 2,915 3,155 35 2,993 118 51 Construction - - - - - - Commercial real estate: Commercial 6,111 6,586 6 6,385 185 34 Construction 1,597 1,599 7 1,597 10 59 Home equities 1,498 1,699 - 1,563 49 25 Consumer and other 21 24 21 22 - 1 Total impaired loans $ 18,158 $ 19,400 $ 704 $ 18,819 $ 500 $ 326 At December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 1,633 $ 2,611 $ - $ 1,785 $ 116 $ 65 Residential real estate: Residential 2,289 2,483 - 2,337 45 69 Construction - - - - - - Commercial real estate: Commercial 6,538 6,914 - 6,733 220 115 Construction 116 116 - 143 - 12 Home equities 1,887 2,058 - 1,952 71 43 Consumer and other - - - - - - Total impaired loans $ 12,463 $ 14,182 $ - $ 12,950 $ 452 $ 304 At December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 2,068 $ 2,095 $ 249 $ 2,098 $ 17 $ 125 Residential real estate: Residential 525 556 85 520 22 3 Construction - - - - - - Commercial real estate: Commercial - - - - - - Construction 8,636 8,975 716 8,793 379 113 Home equities - - - - - - Consumer and other 23 27 23 23 - 2 Total impaired loans $ 11,252 $ 11,653 $ 1,073 $ 11,434 $ 418 $ 243 At December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 3,701 $ 4,706 $ 249 $ 3,883 $ 133 $ 190 Residential real estate: Residential 2,814 3,039 85 2,857 67 72 Construction - - - - - - Commercial real estate: Commercial 6,538 6,914 - 6,733 220 115 Construction 8,752 9,091 716 8,936 379 125 Home equities 1,887 2,058 - 1,952 71 43 Consumer and other 23 27 23 23 - 2 Total impaired loans $ 23,715 $ 25,835 $ 1,073 $ 24,384 $ 870 $ 547 |
Loans Classified As Troubled Debt Restructurings | September 30, 2019 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,977 $ 206 $ 1,771 $ 65 Residential real estate: Residential 1,832 454 1,378 6 Construction - - - - Commercial real estate: Commercial and multi-family 3,854 3,276 578 - Construction - - - - Home equities 696 125 571 - Consumer and other 21 - 21 21 Total TDR loans $ 8,380 $ 4,061 $ 4,319 $ 92 December 31, 2018 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 2,282 $ 275 $ 2,007 $ 154 Residential real estate: Residential 1,617 266 1,351 14 Construction - - - - Commercial real estate: Commercial and multi-family 4,164 3,571 593 - Construction 8,753 8,637 116 716 Home equities 756 122 634 - Consumer and other 23 - 23 23 Total TDR loans $ 17,595 $ 12,871 $ 4,724 $ 907 |
TDR Activity By Type Of Concession Granted To Borrower | Three months ended September 30, 2019 Three months ended September 30, 2018 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings by Type of Concession Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial: Extension of maturity 1 $ 21 $ 21 1 $ 46 $ 46 Term-out line of credit 1 42 42 - - - Residential Real Estate & Construction: - - - - - - Extension of maturity and interest rate reduction 3 307 307 - - - Commercial Real Estate & Construction: Deferral of principal - - - 1 8,768 8,768 Home Equities: - - - - - Extension of maturity and interest rate reduction 1 110 110 - - - Consumer and other loans - - - - - - Nine months ended September 30, 2019 Nine months ended September 30, 2018 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings by Type of Concession Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial: Extension of maturity 1 $ 21 $ 21 1 $ 46 $ 46 Term-out line of credit 1 42 42 1 29 29 Combination of concessions - - - 1 63 63 Residential Real Estate & Construction: Extension of maturity and interest rate reduction 3 307 307 - - - Commercial Real Estate & Construction: Deferral of principal - - - 1 8,768 8,768 Extension of maturity - - - 1 181 181 Combination of concessions - - - 1 154 154 Home Equities: Deferral of principal - - - 1 100 100 Extension of maturity and interest rate reduction 3 390 390 - - - Consumer and other loans - - - - - - |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Other Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Balance at June 30, 2019 Net Change Balance at September 30, 2019 (in thousands) Net unrealized gain on investment securities $ 426 $ 523 $ 949 Net defined benefit pension plan adjustments (2,871) 68 (2,803) Total $ (2,445) $ 591 $ (1,854) Balance at June 30, 2018 Net Change Balance at September 30, 2018 (in thousands) Net unrealized loss on investment securities $ (3,093) $ (738) $ (3,831) Net defined benefit pension plan adjustments (2,290) 40 (2,250) Total $ (5,383) $ (698) $ (6,081) Balance at December 31, 2018 Net Change Balance at September 30, 2019 (in thousands) Net unrealized (loss) gain on investment securities $ (2,348) $ 3,297 $ 949 Net defined benefit pension plan adjustments (3,005) 202 (2,803) Total $ (5,353) $ 3,499 $ (1,854) Balance at December 31, 2017 Net Change Balance at September 30, 2018 (in thousands) Net unrealized loss on investment securities $ (1,049) $ (2,782) $ (3,831) Net defined benefit pension plan adjustments (2,368) 118 (2,250) Total $ (3,417) $ (2,664) $ (6,081) |
Components Of Other Comprehensive Income (Loss) | Three months ended September 30, 2019 Three months ended September 30, 2018 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized gain (loss) on investment securities: Unrealized gain (loss) on investment securities $ 705 $ (182) $ 523 $ (1,002) $ 264 $ (738) Defined benefit pension plan adjustments: Reclassifications from accumulated other comprehensive income for gains Amortization of prior service cost (a) $ 7 $ (1) $ 6 $ 8 $ (1) $ 7 Amortization of actuarial loss (a) 82 (20) 62 43 (10) 33 Net change 89 (21) 68 51 (11) 40 Other comprehensive income (loss) $ 794 $ (203) $ 591 $ (951) $ 253 $ (698) (a) Included in net periodic pension cost, as described in Note 9 – “Net Periodic Benefit Costs” Nine months ended September 30, 2019 Nine months ended September 30, 2018 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized gain (loss) on investment securities: Unrealized gain (loss) on investment securities $ 4,451 $ (1,154) $ 3,297 $ (3,761) $ 979 $ (2,782) Defined benefit pension plan adjustments: Reclassifications from accumulated other comprehensive income for gains Amortization of prior service cost (a) $ 23 $ (6) $ 17 $ 24 $ (6) $ 18 Amortization of actuarial loss (a) 248 (63) 185 127 (27) 100 Net change 271 (69) 202 151 (33) 118 Other comprehensive income (loss) $ 4,722 $ (1,223) $ 3,499 $ (3,610) $ 946 $ (2,664) |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Information [Abstract] | |
Schedule Of Business Segments | Three months ended September 30, 2019 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 13,652 $ (31) $ 13,621 (Credit) provision for loan losses (431) - (431) Net interest income (expense) after provision for loan losses 14,083 (31) 14,052 Non-interest income 1,777 162 1,939 Insurance service and fees 130 3,095 3,225 Amortization expense - 112 112 Non-interest expense 9,778 2,386 12,164 Income before income taxes 6,212 728 6,940 Income tax provision 1,587 189 1,776 Net income $ 4,625 $ 539 $ 5,164 Three months ended September 30, 2018 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 12,118 $ (32) $ 12,086 Provision for loan losses 252 - 252 Net interest income (expense) after provision for loan losses 11,866 (32) 11,834 Non-interest income 1,549 - 1,549 Insurance service and fees 148 3,067 3,215 Amortization expense - 112 112 Non-interest expense 9,247 2,098 11,345 Income before income taxes 4,316 825 5,141 Income tax provision 116 230 346 Net income $ 4,200 $ 595 $ 4,795 Nine months ended September 30, 2019 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 39,360 $ (97) $ 39,263 Provision for loan losses 197 - 197 Net interest income (expense) after provision for loan losses 39,163 (97) 39,066 Non-interest income 5,359 162 5,521 Insurance service and fees 377 8,191 8,568 Amortization expense - 336 336 Non-interest expense 28,775 6,538 35,313 Income before income taxes 16,124 1,382 17,506 Income tax provision 3,880 360 4,240 Net income $ 12,244 $ 1,022 $ 13,266 Nine months ended September 30, 2018 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 35,822 $ (88) $ 35,734 Provision for loan losses 1,678 - 1,678 Net interest income (expense) after provision for loan losses 34,144 (88) 34,056 Non-interest income 5,057 - 5,057 Insurance service and fees 449 6,683 7,132 Amortization expense - 168 168 Non-interest expense 26,436 5,257 31,693 Income before income taxes 13,214 1,170 14,384 Income tax provision 2,159 320 2,479 Net income $ 11,055 $ 850 $ 11,905 |
Contingent Liabilities And Co_2
Contingent Liabilities And Commitments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Contingent Liabilities And Commitments [Abstract] | |
Summary Of Commitments And Contingent Liabilities | September 30, December 31, 2019 2018 (in thousands) Commitments to extend credit $ 347,081 $ 290,785 Standby letters of credit 4,432 3,379 Total $ 351,513 $ 294,164 |
Net Periodic Benefit Costs (Tab
Net Periodic Benefit Costs (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Net Periodic Benefit Costs [Abstract] | |
Schedule Of Net Periodic Benefit Cost | Three months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2019 2018 2019 2018 Service cost $ - $ - $ 37 $ 47 Interest cost 55 51 51 34 Expected return on plan assets (70) (78) - - Amortization of prior service cost - - 7 8 Amortization of the net loss 24 21 58 22 Net periodic cost (benefit) $ 9 $ (6) $ 153 $ 111 Nine months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2019 2018 2019 2018 Service cost $ - $ - $ 109 $ 141 Interest cost 165 153 151 102 Expected return on plan assets (208) (234) - - Amortization of prior service cost - - 23 24 Amortization of the net loss 72 63 176 64 Net periodic cost (benefit) $ 29 $ (18) $ 459 $ 331 |
Revenue Recognition Of Non-In_3
Revenue Recognition Of Non-Interest Income (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Schedule Of Disaggregation Of Insurance Service And Other Fees | Three months ended September 30, 2019 2018 (in thousands) Commercial property and casualty insurance commissions $ 1,382 $ 1,330 Personal property and casualty insurance commissions 863 917 Employee benefits sales commissions 287 241 Profit sharing and contingent revenue 430 486 Wealth management and other financial services 142 151 Insurance claims services revenue 96 65 Other insurance-related revenue 25 25 Total insurance service and other fees $ 3,225 $ 3,215 Nine months ended September 30, 2019 2018 (in thousands) Commercial property and casualty insurance commissions $ 3,267 $ 2,665 Personal property and casualty insurance commissions 2,618 2,249 Employee benefits sales commissions 869 664 Profit sharing and contingent revenue 939 790 Wealth management and other financial services 405 462 Insurance claims services revenue 397 234 Other insurance-related revenue 73 68 Total insurance service and other fees $ 8,568 $ 7,132 |
Organization And Summary Of S_4
Organization And Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($)entity | Dec. 31, 2018USD ($) | |
Number of subsidiaries | entity | 2 | ||
Leases, right-of-use assets | $ 3,862 | $ 3,862 | |
Leases, liabilities | 4,302 | 4,302 | |
Other liabilities | 19,007 | 19,007 | $ 17,031 |
Operating lease expenses | 178 | 535 | |
Payments to lease liabilities | $ 185 | $ 553 | |
Leases, weighted average discount rate | 3.50% | 3.50% | |
Leases, weighted average remaining lease term | 8 years 8 months 12 days | 8 years 8 months 12 days | |
ASU 2016-02 [Member] | |||
Leases, right-of-use assets | $ 3,900 | $ 3,900 | 4,300 |
Leases, liabilities | $ 4,300 | $ 4,300 | 4,700 |
Other liabilities | $ 400 |
Organization And Summary Of S_5
Organization And Summary Of Significant Accounting Policies (Schedule Of Future Minimum Lease Payments) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
2019 (excluding the nine months ended September 30, 2019) | $ 185 |
2020 | 748 |
2021 | 682 |
2022 | 694 |
2023 | 589 |
Thereafter | 2,091 |
Total future minimum lease payments | 4,989 |
Less imputed interest | 687 |
Total | $ 4,302 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale securities pledged as collateral | $ 91,000,000 | $ 94,000,000 |
Other-than-temporary impairment charges | $ 0 | $ 0 |
Minimum [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Contractual maturities duration | 10 years |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Approximate Fair Value Of Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | $ 133,176 | $ 135,274 |
Available for Sale, Unrealized Gains | 1,572 | 115 |
Available for Sale, Unrealized Losses | (291) | (3,285) |
Available for Sale, Fair Value | 134,457 | 132,104 |
Held to maturity, Amortized cost | 2,520 | 1,685 |
Held to Maturity, Unrealized Gains | 30 | 11 |
Held to Maturity, Unrealized Losses | (8) | (22) |
Held to Maturity, Fair Value | 2,542 | 1,674 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 32,681 | 56,765 |
Available for Sale, Unrealized Gains | 431 | 71 |
Available for Sale, Unrealized Losses | (21) | (735) |
Available for Sale, Fair Value | 33,091 | 56,101 |
U.S. Government Agencies [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 28,958 | 34,597 |
Available for Sale, Unrealized Gains | 361 | 2 |
Available for Sale, Unrealized Losses | (14) | (671) |
Available for Sale, Fair Value | 29,305 | 33,928 |
States and Political Subdivisions [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 3,723 | 22,168 |
Available for Sale, Unrealized Gains | 70 | 69 |
Available for Sale, Unrealized Losses | (7) | (64) |
Available for Sale, Fair Value | 3,786 | 22,173 |
Held to maturity, Amortized cost | 2,520 | 1,685 |
Held to Maturity, Unrealized Gains | 30 | 11 |
Held to Maturity, Unrealized Losses | (8) | (22) |
Held to Maturity, Fair Value | 2,542 | 1,674 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 100,495 | 78,509 |
Available for Sale, Unrealized Gains | 1,141 | 44 |
Available for Sale, Unrealized Losses | (270) | (2,550) |
Available for Sale, Fair Value | 101,366 | 76,003 |
Mortgage-Backed Securities [Member] | FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 35,678 | 27,747 |
Available for Sale, Unrealized Gains | 455 | 21 |
Available for Sale, Unrealized Losses | (66) | (729) |
Available for Sale, Fair Value | 36,067 | 27,039 |
Mortgage-Backed Securities [Member] | FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 16,506 | 14,645 |
Available for Sale, Unrealized Gains | 122 | 11 |
Available for Sale, Unrealized Losses | (21) | (431) |
Available for Sale, Fair Value | 16,607 | 14,225 |
Mortgage-Backed Securities [Member] | GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 3,518 | 1,660 |
Available for Sale, Unrealized Gains | 17 | 6 |
Available for Sale, Unrealized Losses | (13) | (36) |
Available for Sale, Fair Value | 3,522 | 1,630 |
Mortgage-Backed Securities [Member] | SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 14,447 | 9,432 |
Available for Sale, Unrealized Gains | 231 | |
Available for Sale, Unrealized Losses | (43) | (299) |
Available for Sale, Fair Value | 14,635 | 9,133 |
Mortgage-Backed Securities [Member] | CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 30,346 | 25,025 |
Available for Sale, Unrealized Gains | 316 | 6 |
Available for Sale, Unrealized Losses | (127) | (1,055) |
Available for Sale, Fair Value | $ 30,535 | $ 23,976 |
Securities (Scheduled Maturitie
Securities (Scheduled Maturities Of Debt And Mortgage-Backed Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities [Abstract] | ||
Debt securities available for sale, Due in one year or less, Amortized cost | $ 4,000 | $ 5,074 |
Debt securities available for sale, Due after one year through five years, Amortized cost | 6,534 | 22,637 |
Debt securities available for sale, Due after five years through ten years, Amortized cost | 22,147 | 28,870 |
Debt securities available for sale, Due after ten years, Amortized cost | 184 | |
Debt securities available for sale, Amortized cost | 32,681 | 56,765 |
Mortgage-backed securities available for sale, Amortized cost | 100,495 | 78,509 |
Total securities designated as available for sale, Amortized Cost | 133,176 | 135,274 |
Debt securities available for sale, Due in one year or less, Estimated fair value | 3,986 | 5,075 |
Debt securities available for sale, Due after one year through five years, Estimated fair value | 6,566 | 22,448 |
Debt securities available for sale, Due after five years through ten years, Estimated fair value | 22,539 | 28,391 |
Debt securities available for sale, Due after ten years, Estimated fair value | 187 | |
Debt securities available for sale, Estimated fair value | 33,091 | 56,101 |
Mortgage-backed securities available for sale, Estimated fair value | 101,366 | 76,003 |
Total securities available for sale, Estimated fair value | 134,457 | 132,104 |
Debt securities held to maturity, Due in one year or less, Amortized cost | 1,124 | 693 |
Debt securities held to maturity, Due after one year through five years, Amortized cost | 861 | 811 |
Debt securities held to maturity, Due after five years through ten years, Amortized cost | 54 | 93 |
Debt securities held to maturity, Due after ten years, Amortized cost | 481 | 88 |
Held to maturity, Amortized cost | 2,520 | 1,685 |
Debt securities held to maturity, Due in one year or less, Estimated fair value | 1,125 | 693 |
Debt securites held to maturity, Due after one year through five years, Estimated fair value | 885 | 811 |
Debt securites held to maturity, Due after five years through ten years, Estimated fair value | 54 | 89 |
Debt securities held to maturity, Due after ten years, Estimated fair value | 478 | 81 |
Held to maturity, Estimated fair value | $ 2,542 | $ 1,674 |
Securities (Unrealized Losses O
Securities (Unrealized Losses On Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired securities, Less than 12 months, Fair Value | $ 14,199 | $ 19,837 |
Total temporarily impaired securities, 12 months or longer, Fair Value | 22,341 | 97,511 |
Total temporarily impaired securities, Total, Fair Value | 36,540 | 117,348 |
Total temporarily impaired securities, Less than 12 months, Unrealized Losses | (101) | (110) |
Total temporarily impaired securities, 12 months or longer, Unrealized Losses | (198) | (3,197) |
Total temporarily impaired securities, Total, Unrealized Losses | (299) | (3,307) |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 13,703 | 4,532 |
Available for Sale, 12 months or longer, Fair Value | 17,751 | 68,752 |
Available for Sale, Total, Fair Value | 31,454 | 73,284 |
Available for Sale, Less than 12 months, Unrealized Losses | (94) | (46) |
Available for Sale, 12 months or longer, Unrealized Losses | (176) | (2,504) |
Available for Sale, Total, Unrealized Losses | (270) | (2,550) |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 15,149 | |
Available for Sale, 12 months or longer, Fair Value | 4,167 | 28,037 |
Available for Sale, Total, Fair Value | 4,167 | 43,186 |
Available for Sale, Less than 12 months, Unrealized Losses | (64) | |
Available for Sale, 12 months or longer, Unrealized Losses | (21) | (671) |
Available for Sale, Total, Unrealized Losses | (21) | (735) |
Debt Securities [Member] | U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 9,931 | |
Available for Sale, 12 months or longer, Fair Value | 3,986 | 21,144 |
Available for Sale, Total, Fair Value | 3,986 | 31,075 |
Available for Sale, Less than 12 months, Unrealized Losses | (49) | |
Available for Sale, 12 months or longer, Unrealized Losses | (14) | (622) |
Available for Sale, Total, Unrealized Losses | (14) | (671) |
Debt Securities [Member] | States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 5,218 | |
Available for Sale, 12 months or longer, Fair Value | 181 | 6,893 |
Available for Sale, Total, Fair Value | 181 | 12,111 |
Available for Sale, Less than 12 months, Unrealized Losses | (15) | |
Available for Sale, 12 months or longer, Unrealized Losses | (7) | (49) |
Available for Sale, Total, Unrealized Losses | (7) | (64) |
Held To Maturity, Less than 12 months, Fair Value | 496 | 156 |
Held To Maturity, 12 months or longer, Fair Value | 423 | 722 |
Held To Maturity, Total, Fair Value | 919 | 878 |
Held To Maturity, Less than 12 months, Unrealized Losses | (7) | |
Held To Maturity, 12 months or longer, Unrealized Losses | (1) | (22) |
Held To Maturity, Total, Unrealized Losses | (8) | (22) |
FNMA [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 3,386 | 2,637 |
Available for Sale, 12 months or longer, Fair Value | 6,181 | 23,667 |
Available for Sale, Total, Fair Value | 9,567 | 26,304 |
Available for Sale, Less than 12 months, Unrealized Losses | (21) | (21) |
Available for Sale, 12 months or longer, Unrealized Losses | (45) | (708) |
Available for Sale, Total, Unrealized Losses | (66) | (729) |
FHLMC [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 3,046 | 1,895 |
Available for Sale, 12 months or longer, Fair Value | 1,300 | 11,899 |
Available for Sale, Total, Fair Value | 4,346 | 13,794 |
Available for Sale, Less than 12 months, Unrealized Losses | (7) | (25) |
Available for Sale, 12 months or longer, Unrealized Losses | (14) | (406) |
Available for Sale, Total, Unrealized Losses | (21) | (431) |
GNMA [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 2,030 | |
Available for Sale, 12 months or longer, Fair Value | 776 | 926 |
Available for Sale, Total, Fair Value | 2,806 | 926 |
Available for Sale, Less than 12 months, Unrealized Losses | (10) | |
Available for Sale, 12 months or longer, Unrealized Losses | (3) | (36) |
Available for Sale, Total, Unrealized Losses | (13) | (36) |
SBA [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 3,519 | |
Available for Sale, 12 months or longer, Fair Value | 9,133 | |
Available for Sale, Total, Fair Value | 3,519 | 9,133 |
Available for Sale, Less than 12 months, Unrealized Losses | (43) | |
Available for Sale, 12 months or longer, Unrealized Losses | (299) | |
Available for Sale, Total, Unrealized Losses | (43) | (299) |
CMO [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,722 | |
Available for Sale, 12 months or longer, Fair Value | 9,494 | 23,127 |
Available for Sale, Total, Fair Value | 11,216 | 23,127 |
Available for Sale, Less than 12 months, Unrealized Losses | (13) | |
Available for Sale, 12 months or longer, Unrealized Losses | (114) | (1,055) |
Available for Sale, Total, Unrealized Losses | $ (127) | $ (1,055) |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans | $ 18,158 | $ 23,715 |
Impaired loans, allowance for loan loss | $ 704 | $ 1,073 |
Consumer Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Period past due for loan appraisals | 90 days |
Fair Value Measurement (Financi
Fair Value Measurement (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 134,457 | $ 132,104 |
Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 527 | 609 |
Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 527 | 609 |
Recurring [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 29,305 | 33,928 |
Recurring [Member] | U.S. Government Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 29,305 | 33,928 |
Recurring [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 3,786 | 22,173 |
Recurring [Member] | States and Political Subdivisions [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 3,786 | 22,173 |
Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 101,366 | 76,003 |
Recurring [Member] | Mortgage-Backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 101,366 | $ 76,003 |
Fair Value Measurement (Summary
Fair Value Measurement (Summary Of Changes In Fair Value At Level 3, Mortgage Servicing Rights) (Details) - Mortgage Servicing Rights [Member] - Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Mortgage servicing rights, beginning | $ 570 | $ 635 | $ 609 | $ 586 |
Gains/(Losses) included in earnings | (71) | 3 | (154) | 52 |
Additions from loan sales | 28 | 4 | 72 | 4 |
Mortgage servicing rights, ending | $ 527 | $ 642 | $ 527 | $ 642 |
Fair Value Measurement (Quantit
Fair Value Measurement (Quantitative Information About Significant Unobservable Inputs For MSRs) (Details) - Mortgage Servicing Rights [Member] - Level 3 [Member] - item | Sep. 30, 2019 | Dec. 31, 2018 |
Servicing Fees [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair value measurement of unobservable input (as a percent) | 0.25 | 0.25 |
Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair value measurement of unobservable input (as a percent) | 9 | 9 |
Prepayment Rate (CPR) [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair value measurement of unobservable input (as a percent) | 8.62 | 6.52 |
Fair Value Measurement (Finan_2
Fair Value Measurement (Financial Instruments Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 15,500 | $ 20,590 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 15,500 | $ 20,590 |
Fair Value Measurement (Estimat
Fair Value Measurement (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | $ 134,457 | $ 132,104 |
Held to maturity securities | 2,542 | 1,674 |
Demand deposits | 271,633 | 231,902 |
NOW deposits | 141,384 | 110,450 |
Savings deposits | 568,156 | 571,479 |
Time deposits | 277,633 | 301,227 |
Carrying Amount [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 34,344 | 39,915 |
Demand deposits | 271,633 | 231,902 |
NOW deposits | 141,384 | 110,450 |
Savings deposits | 568,156 | 571,479 |
Carrying Amount [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 134,457 | 132,104 |
FHLB and FRB stock | 3,538 | 3,403 |
Securities sold under agreement to repurchase | 7,418 | 3,142 |
Other borrowed funds | 10,000 | 10,000 |
Junior subordinated debentures | 11,330 | 11,330 |
Carrying Amount [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 2,520 | 1,685 |
Loans, net | 1,204,410 | 1,141,146 |
Mortgage servicing rights | 527 | 609 |
Time deposits | 277,633 | 301,227 |
Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 34,344 | 39,915 |
Demand deposits | 271,633 | 231,902 |
NOW deposits | 141,384 | 110,450 |
Savings deposits | 568,156 | 571,479 |
Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 134,457 | 132,104 |
FHLB and FRB stock | 3,538 | 3,403 |
Securities sold under agreement to repurchase | 7,418 | 3,142 |
Other borrowed funds | 9,981 | 9,854 |
Junior subordinated debentures | 11,330 | 11,330 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 2,542 | 1,674 |
Loans, net | 1,214,285 | 1,131,891 |
Mortgage servicing rights | 527 | 609 |
Time deposits | $ 278,276 | $ 298,999 |
Loans And The Allowance For L_3
Loans And The Allowance For Loan Losses (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Net deferred loan origination costs | $ 1,580,000 | $ 1,600,000 | $ 1,580,000 | $ 1,600,000 | $ 1,587,000 |
Loan commitments to lend additional funds to debtors | 0 | $ 0 | |||
Period of timely payments before reversion to accruing status | 6 months | ||||
Default period, past due | 90 days | ||||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan servicing portfolio principal balance | 74,000,000 | $ 74,000,000 | 73,000,000 | ||
Mortgage servicing rights | 500,000 | 500,000 | 600,000 | ||
Mortgage loans held-for-sale | 500,000 | 500,000 | $ 400,000 | ||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | FNMA Loans [Member] | Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Mortgages sold to FNMA | $ 3,000,000 | $ 400,000 | $ 7,600,000 | $ 400,000 |
Loans And The Allowance For L_4
Loans And The Allowance For Loan Losses (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | $ 1,218,212 | $ 1,154,343 | $ 1,153,975 | |||
Net deferred loan origination costs | 1,580 | 1,587 | 1,600 | |||
Total gross loans | 1,219,792 | 1,155,930 | ||||
Allowance for loan losses | (15,382) | (14,784) | ||||
Loans, net | 1,204,410 | 1,141,146 | ||||
Home Equities [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 69,771 | 70,546 | ||||
Commercial And Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 262,144 | 226,057 | ||||
Consumer And Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 1,684 | 1,520 | ||||
Total Real Estate Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 954,384 | 926,766 | ||||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | [1] | 161,002 | 156,749 | |||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 160,112 | 158,404 | ||||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 890 | 113 | ||||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 723,611 | [1] | 697,703 | 678,581 | [1] | |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 632,786 | 592,507 | ||||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 90,825 | 105,196 | ||||
Total Real Estate Loans [Member] | Home Equities [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 69,771 | $ 70,546 | 70,113 | |||
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | 262,144 | 247,141 | ||||
Total Real Estate Loans [Member] | Consumer And Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans before deferred loan origination costs | $ 1,684 | $ 1,391 | ||||
[1] | Includes construction loans |
Loans And The Allowance For L_5
Loans And The Allowance For Loan Losses (Data, At Class Level, Of Credit Quality Indicators Of Certain Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | $ 1,218,212 | $ 1,154,343 | $ 1,153,975 | ||
Total Real Estate Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 954,384 | 926,766 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 723,611 | [1] | 697,703 | 678,581 | [1] |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 513,559 | 532,226 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 174,471 | 140,037 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 25,983 | 10,583 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 9,598 | 14,857 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 90,825 | 105,196 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 60,844 | 65,932 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 20,811 | 30,628 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 6,191 | ||||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 2,979 | 8,636 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 632,786 | 592,507 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 452,715 | 466,294 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 153,660 | 109,409 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 19,792 | 10,583 | |||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 6,619 | 6,221 | |||
Commercial And Industrial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 262,144 | 226,057 | |||
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 173,384 | 155,687 | |||
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 70,187 | 57,366 | |||
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 9,373 | 4,105 | |||
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | 9,200 | 8,870 | |||
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | $ 29 | ||||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total gross loans | $ 262,144 | $ 247,141 | |||
[1] | Includes construction loans |
Loans And The Allowance For L_6
Loans And The Allowance For Loan Losses (Recorded Investment In Loans Past Due) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | $ 1,202,752 | $ 1,119,629 | ||||
Non-accruing Loans | 13,839 | 18,991 | ||||
Total Balance | 1,218,212 | 1,154,343 | $ 1,153,975 | |||
Net deferred loan origination costs | 1,580 | 1,587 | 1,600 | |||
30-59 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 530 | 14,420 | ||||
60-89 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 1,091 | 1,303 | ||||
Commercial And Industrial [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | 256,920 | 217,625 | ||||
Non-accruing Loans | 4,245 | 1,694 | ||||
Total Balance | 262,144 | 226,057 | ||||
Commercial And Industrial [Member] | 30-59 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 173 | 6,173 | ||||
Commercial And Industrial [Member] | 60-89 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 806 | 565 | ||||
Home Equities [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | 68,499 | 69,094 | ||||
Non-accruing Loans | 927 | 1,253 | ||||
Total Balance | 69,771 | 70,546 | ||||
Home Equities [Member] | 30-59 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 345 | 123 | ||||
Home Equities [Member] | 60-89 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 76 | |||||
Consumer And Other Loans [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | 1,672 | 1,514 | ||||
Total Balance | 1,684 | 1,520 | ||||
Consumer And Other Loans [Member] | 30-59 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 12 | 5 | ||||
Consumer And Other Loans [Member] | 60-89 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 1 | |||||
Total Real Estate Loans [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Balance | 954,384 | 926,766 | ||||
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Balance | 262,144 | 247,141 | ||||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Balance | [1] | 161,002 | 156,749 | |||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Balance | 723,611 | [1] | 697,703 | 678,581 | [1] | |
Total Real Estate Loans [Member] | Home Equities [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Balance | 69,771 | 70,546 | 70,113 | |||
Total Real Estate Loans [Member] | Consumer And Other Loans [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Balance | 1,684 | $ 1,391 | ||||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | 158,290 | 154,063 | ||||
Non-accruing Loans | 1,537 | 1,463 | ||||
Total Balance | 160,112 | 158,404 | ||||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 30-59 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 2,546 | |||||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 60-89 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 285 | 332 | ||||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | 627,253 | 582,016 | ||||
Non-accruing Loans | 5,533 | 5,945 | ||||
Total Balance | 632,786 | 592,507 | ||||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 30-59 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 4,546 | |||||
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | 890 | 113 | ||||
Total Balance | 890 | 113 | ||||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Current Balance | 89,228 | 95,204 | ||||
Non-accruing Loans | 1,597 | 8,636 | ||||
Total Balance | $ 90,825 | 105,196 | ||||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 30-59 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | 1,027 | |||||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 60-89 Days [Member] | ||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||||
Total Past Due | $ 329 | |||||
[1] | Includes construction loans |
Loans And The Allowance For L_7
Loans And The Allowance For Loan Losses (Schedule Of Allowance For Loan Losses According To Portfolio Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Allowance for loan losses: Beginning balance | $ 15,248 | $ 15,235 | $ 14,784 | $ 14,019 | |||||||||
Allowance for loan losses: Charge-offs | (186) | (281) | (398) | (509) | |||||||||
Allowance for loan losses: Recoveries | 751 | 7 | 799 | 25 | |||||||||
Allowance for loan losses: Provision(Credit) for loan losses | (431) | 252 | 197 | 1,678 | |||||||||
Allowance for loan losses: Ending balance | 15,382 | 15,213 | 15,382 | 15,213 | |||||||||
Allowance for loan losses: Individually evaluated for impairment | $ 704 | $ 1,156 | |||||||||||
Allowance for loan losses: Collectively evaluated for impairment | 14,678 | 14,057 | |||||||||||
Allowance for loan losses: Total | 15,248 | 15,235 | 14,784 | 14,019 | 15,382 | $ 14,784 | 15,213 | ||||||
Loans: Individually evaluated for impairment | 18,158 | 25,809 | |||||||||||
Loans: Collectively evaluated for impairment | 1,200,054 | 1,128,166 | |||||||||||
Total | 1,218,212 | 1,154,343 | 1,153,975 | ||||||||||
Net deferred loan origination costs | 1,580 | 1,587 | 1,600 | ||||||||||
Total Real Estate Loans [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Total | 954,384 | 926,766 | |||||||||||
Commercial And Industrial [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Total | 262,144 | 226,057 | |||||||||||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Allowance for loan losses: Beginning balance | 5,272 | 4,341 | 4,368 | 5,204 | |||||||||
Allowance for loan losses: Charge-offs | (91) | (248) | (67) | ||||||||||
Allowance for loan losses: Recoveries | 747 | 5 | 786 | 18 | |||||||||
Allowance for loan losses: Provision(Credit) for loan losses | (732) | 235 | 290 | (574) | |||||||||
Allowance for loan losses: Ending balance | 5,196 | 4,581 | 5,196 | 4,581 | |||||||||
Allowance for loan losses: Individually evaluated for impairment | 635 | 113 | |||||||||||
Allowance for loan losses: Collectively evaluated for impairment | 4,561 | 4,468 | |||||||||||
Allowance for loan losses: Total | 5,272 | 4,341 | 4,368 | 5,204 | 5,196 | 4,368 | 4,581 | ||||||
Loans: Individually evaluated for impairment | 6,016 | 2,925 | |||||||||||
Loans: Collectively evaluated for impairment | 256,128 | 244,216 | |||||||||||
Total | 262,144 | 247,141 | |||||||||||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Allowance for loan losses: Beginning balance | 8,637 | 9,445 | 8,844 | [1] | 7,409 | [1] | |||||||
Allowance for loan losses: Charge-offs | (55) | (262) | (56) | [1] | (262) | [1] | |||||||
Allowance for loan losses: Recoveries | [1] | ||||||||||||
Allowance for loan losses: Provision(Credit) for loan losses | 358 | (113) | 152 | [1] | 1,923 | [1] | |||||||
Allowance for loan losses: Ending balance | [1] | 8,940 | 9,070 | 8,940 | 9,070 | ||||||||
Allowance for loan losses: Individually evaluated for impairment | [1] | 13 | 950 | ||||||||||
Allowance for loan losses: Collectively evaluated for impairment | [1] | 8,927 | 8,120 | ||||||||||
Allowance for loan losses: Total | 8,637 | 9,445 | 8,844 | [1] | 7,409 | [1] | 8,940 | [1] | 8,844 | [1] | 9,070 | [1] | |
Loans: Individually evaluated for impairment | [1] | 7,708 | 18,267 | ||||||||||
Loans: Collectively evaluated for impairment | [1] | 715,903 | 660,314 | ||||||||||
Total | 723,611 | [1] | 697,703 | 678,581 | [1] | ||||||||
Consumer And Other Loans [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Total | 1,684 | 1,520 | |||||||||||
Consumer And Other Loans [Member] | Total Real Estate Loans [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Allowance for loan losses: Beginning balance | 130 | 90 | 106 | 109 | |||||||||
Allowance for loan losses: Charge-offs | (40) | (19) | (94) | (83) | |||||||||
Allowance for loan losses: Recoveries | 4 | 2 | 13 | 6 | |||||||||
Allowance for loan losses: Provision(Credit) for loan losses | 45 | 9 | 114 | 50 | |||||||||
Allowance for loan losses: Ending balance | 139 | 82 | 139 | 82 | |||||||||
Allowance for loan losses: Individually evaluated for impairment | 21 | 23 | |||||||||||
Allowance for loan losses: Collectively evaluated for impairment | 118 | 59 | |||||||||||
Allowance for loan losses: Total | 130 | 90 | 106 | 109 | 139 | 106 | 82 | ||||||
Loans: Individually evaluated for impairment | 21 | 23 | |||||||||||
Loans: Collectively evaluated for impairment | 1,663 | 1,368 | |||||||||||
Total | 1,684 | 1,391 | |||||||||||
Residential Mortgages [Member] | Total Real Estate Loans [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Allowance for loan losses: Beginning balance | 883 | 1,025 | 1,121 | [1] | 950 | [1] | |||||||
Allowance for loan losses: Charge-offs | [1] | (86) | |||||||||||
Allowance for loan losses: Recoveries | [1] | ||||||||||||
Allowance for loan losses: Provision(Credit) for loan losses | (87) | 129 | (325) | [1] | 290 | [1] | |||||||
Allowance for loan losses: Ending balance | [1] | 796 | 1,154 | 796 | 1,154 | ||||||||
Allowance for loan losses: Individually evaluated for impairment | [1] | 35 | 70 | ||||||||||
Allowance for loan losses: Collectively evaluated for impairment | [1] | 761 | 1,084 | ||||||||||
Allowance for loan losses: Total | 883 | 1,025 | 1,121 | [1] | 950 | [1] | 796 | [1] | 1,121 | [1] | 1,154 | [1] | |
Loans: Individually evaluated for impairment | [1] | 2,915 | 2,687 | ||||||||||
Loans: Collectively evaluated for impairment | [1] | 158,087 | 154,062 | ||||||||||
Total | [1] | 161,002 | 156,749 | ||||||||||
Home Equities [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Total | 69,771 | 70,546 | |||||||||||
Home Equities [Member] | Total Real Estate Loans [Member] | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||
Allowance for loan losses: Beginning balance | 326 | 334 | 345 | 347 | |||||||||
Allowance for loan losses: Charge-offs | (11) | ||||||||||||
Allowance for loan losses: Recoveries | 1 | ||||||||||||
Allowance for loan losses: Provision(Credit) for loan losses | (15) | (8) | (34) | (11) | |||||||||
Allowance for loan losses: Ending balance | 311 | 326 | 311 | 326 | |||||||||
Allowance for loan losses: Individually evaluated for impairment | |||||||||||||
Allowance for loan losses: Collectively evaluated for impairment | 311 | 326 | |||||||||||
Allowance for loan losses: Total | $ 326 | $ 334 | $ 345 | $ 347 | 311 | 345 | 326 | ||||||
Loans: Individually evaluated for impairment | 1,498 | 1,907 | |||||||||||
Loans: Collectively evaluated for impairment | 68,273 | 68,206 | |||||||||||
Total | $ 69,771 | $ 70,546 | $ 70,113 | ||||||||||
[1] | Includes construction loans |
Loans And The Allowance For L_8
Loans And The Allowance For Loan Losses (Data, At Class Level, Of Impaired Loans) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | $ 14,437 | $ 12,463 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 3,721 | 11,252 |
Impaired Loans, Recorded Investment, Total | 18,158 | 23,715 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 15,592 | 14,182 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 3,808 | 11,653 |
Impaired Loans, Unpaid Principal Balance, Total | 19,400 | 25,835 |
Impaired Loans, Related Allowance | 704 | 1,073 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 15,025 | 12,950 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 3,794 | 11,434 |
Impaired Loans, Average Recorded Investment, Total | 18,819 | 24,384 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 402 | 452 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 98 | 418 |
Impaired Loans, Interest Income Foregone, Total | 500 | 870 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 247 | 304 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 79 | 243 |
Impaired Loans, Interest Income Recognized, Total | 326 | 547 |
Commercial And Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 3,096 | 1,633 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 2,920 | 2,068 |
Impaired Loans, Recorded Investment, Total | 6,016 | 3,701 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 3,346 | 2,611 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 2,991 | 2,095 |
Impaired Loans, Unpaid Principal Balance, Total | 6,337 | 4,706 |
Impaired Loans, Related Allowance | 635 | 249 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 3,269 | 1,785 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 2,990 | 2,098 |
Impaired Loans, Average Recorded Investment, Total | 6,259 | 3,883 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 62 | 116 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 76 | 17 |
Impaired Loans, Interest Income Foregone, Total | 138 | 133 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 92 | 65 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 64 | 125 |
Impaired Loans, Interest Income Recognized, Total | 156 | 190 |
Consumer And Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 21 | 23 |
Impaired Loans, Recorded Investment, Total | 21 | 23 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 24 | 27 |
Impaired Loans, Unpaid Principal Balance, Total | 24 | 27 |
Impaired Loans, Related Allowance | 21 | 23 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 22 | 23 |
Impaired Loans, Average Recorded Investment, Total | 22 | 23 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | ||
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 1 | 2 |
Impaired Loans, Interest Income Recognized, Total | 1 | 2 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 2,576 | 2,289 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 339 | 525 |
Impaired Loans, Recorded Investment, Total | 2,915 | 2,814 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 2,805 | 2,483 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 350 | 556 |
Impaired Loans, Unpaid Principal Balance, Total | 3,155 | 3,039 |
Impaired Loans, Related Allowance | 35 | 85 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 2,652 | 2,337 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 341 | 520 |
Impaired Loans, Average Recorded Investment, Total | 2,993 | 2,857 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 105 | 45 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 13 | 22 |
Impaired Loans, Interest Income Foregone, Total | 118 | 67 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 50 | 69 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 1 | 3 |
Impaired Loans, Interest Income Recognized, Total | 51 | 72 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Recorded Investment, Total | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, Total | ||
Impaired Loans, Related Allowance | ||
Impaired Loans, Average Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Average Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Average Recorded Investment, Total | ||
Impaired Loans, Interest Income Foregone, With no related allowance recorded | ||
Impaired Loans, Interest Income Foregone, With a related allowance recorded | ||
Impaired Loans, Interest Income Foregone, Total | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | ||
Impaired Loans, Interest Income Recognized, With a related allowance recorded | ||
Impaired Loans, Interest Income Recognized, Total | ||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 5,914 | 6,538 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 197 | |
Impaired Loans, Recorded Investment, Total | 6,111 | 6,538 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 6,389 | 6,914 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 197 | |
Impaired Loans, Unpaid Principal Balance, Total | 6,586 | 6,914 |
Impaired Loans, Related Allowance | 6 | |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 6,188 | 6,733 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 197 | |
Impaired Loans, Average Recorded Investment, Total | 6,385 | 6,733 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 180 | 220 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 5 | |
Impaired Loans, Interest Income Foregone, Total | 185 | 220 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 30 | 115 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 4 | |
Impaired Loans, Interest Income Recognized, Total | 34 | 115 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 1,353 | 116 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 244 | 8,636 |
Impaired Loans, Recorded Investment, Total | 1,597 | 8,752 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,353 | 116 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 246 | 8,975 |
Impaired Loans, Unpaid Principal Balance, Total | 1,599 | 9,091 |
Impaired Loans, Related Allowance | 7 | 716 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,353 | 143 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 244 | 8,793 |
Impaired Loans, Average Recorded Investment, Total | 1,597 | 8,936 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 6 | |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 4 | 379 |
Impaired Loans, Interest Income Foregone, Total | 10 | 379 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 50 | 12 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 9 | 113 |
Impaired Loans, Interest Income Recognized, Total | 59 | 125 |
Total Real Estate Loans [Member] | Home Equities [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 1,498 | 1,887 |
Impaired Loans, Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Recorded Investment, Total | 1,498 | 1,887 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,699 | 2,058 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, Total | 1,699 | 2,058 |
Impaired Loans, Related Allowance | ||
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,563 | 1,952 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Average Recorded Investment, Total | 1,563 | 1,952 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 49 | 71 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | ||
Impaired Loans, Interest Income Foregone, Total | 49 | 71 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 25 | 43 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | ||
Impaired Loans, Interest Income Recognized, Total | $ 25 | $ 43 |
Loans And The Allowance For L_9
Loans And The Allowance For Loan Losses (Loans Classified As Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Modifications [Line Items] | ||
Total | $ 8,380 | $ 17,595 |
Related Allowance | 92 | 907 |
Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,977 | 2,282 |
Related Allowance | 65 | 154 |
Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 21 | 23 |
Related Allowance | 21 | 23 |
Nonaccruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 4,061 | 12,871 |
Nonaccruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 206 | 275 |
Nonaccruing [Member] | Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 4,319 | 4,724 |
Accruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,771 | 2,007 |
Accruing [Member] | Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 21 | 23 |
Total Real Estate Loans [Member] | Home Equities [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 696 | 756 |
Related Allowance | ||
Total Real Estate Loans [Member] | Nonaccruing [Member] | Home Equities [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 125 | 122 |
Total Real Estate Loans [Member] | Accruing [Member] | Home Equities [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 571 | 634 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,832 | 1,617 |
Related Allowance | 6 | 14 |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 3,854 | 4,164 |
Related Allowance | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 454 | 266 |
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 3,276 | 3,571 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,378 | 1,351 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 578 | 593 |
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Related Allowance | ||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 8,753 | |
Related Allowance | 716 | |
Construction [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Construction [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 8,637 | |
Construction [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Construction [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | $ 116 |
Loans And The Allowance For _10
Loans And The Allowance For Loan Losses (TDR Activity By Type Of Concession Granted To Borrower) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($)contract | Sep. 30, 2018USD ($)contract | Sep. 30, 2019USD ($)contract | Sep. 30, 2018USD ($)contract | |
Commercial And Industrial [Member] | Extension Of Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 1 | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 21 | $ 46 | $ 21 | $ 46 |
Post-Modification Outstanding Recorded Investment | $ 21 | $ 46 | $ 21 | $ 46 |
Commercial And Industrial [Member] | Term-Out Line Of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 42 | $ 42 | $ 29 | |
Post-Modification Outstanding Recorded Investment | $ 42 | $ 42 | $ 29 | |
Commercial And Industrial [Member] | Combination Of Concessions [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 63 | |||
Post-Modification Outstanding Recorded Investment | $ 63 | |||
Residential Mortgages [Member] | Extension Of Maturity And Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 3 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 307 | $ 307 | ||
Post-Modification Outstanding Recorded Investment | $ 307 | $ 307 | ||
Commercial Real Estate Mortgages [Member] | Deferral Of Principal [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 8,768 | $ 8,768 | ||
Post-Modification Outstanding Recorded Investment | $ 8,768 | $ 8,768 | ||
Commercial Real Estate Mortgages [Member] | Extension Of Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 181 | |||
Post-Modification Outstanding Recorded Investment | $ 181 | |||
Commercial Real Estate Mortgages [Member] | Combination Of Concessions [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 154 | |||
Post-Modification Outstanding Recorded Investment | $ 154 | |||
Home Equities [Member] | Total Real Estate Loans [Member] | Deferral Of Principal [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 100 | |||
Post-Modification Outstanding Recorded Investment | $ 100 | |||
Home Equities [Member] | Total Real Estate Loans [Member] | Extension Of Maturity And Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 110 | $ 390 | ||
Post-Modification Outstanding Recorded Investment | $ 110 | $ 390 |
Common Equity And Earnings Pe_2
Common Equity And Earnings Per Share Data (Narrative) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Common Equity And Earnings Per Share Data [Abstract] | ||||
Weighted average number of shares outstanding, dilutive | 57,899 | 116,504 | 68,660 | 125,801 |
Potentially anti-dilutive shares outstanding | 82,642 | 0 | 85,579 | 0 |
Other Comprehensive Income (Sch
Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ (2,445) | $ (5,383) | $ (5,353) | $ (3,417) |
Net Change | 591 | (698) | 3,499 | (2,664) |
Ending Balance | (1,854) | (6,081) | (1,854) | (6,081) |
Net Unrealized (Loss) Gain On Investment Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 426 | (3,093) | (2,348) | (1,049) |
Net Change | 523 | (738) | 3,297 | (2,782) |
Ending Balance | 949 | (3,831) | 949 | (3,831) |
Net Defined Benefit Pension Plan Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (2,871) | (2,290) | (3,005) | (2,368) |
Net Change | 68 | 40 | 202 | 118 |
Ending Balance | $ (2,803) | $ (2,250) | $ (2,803) | $ (2,250) |
Other Comprehensive Income (Com
Other Comprehensive Income (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Unrealized gain (loss) on investment securities: | |||||
Unrealized gain (loss) on investment securities, Before-Tax Amount | $ 705 | $ (1,002) | $ 4,451 | $ (3,761) | |
Unrealized gain (loss) on investment securities, Income Tax (Provision) Benefit | (182) | 264 | (1,154) | 979 | |
Unrealized gain (loss) on investment securities, Net-of-Tax Amount | 523 | (738) | 3,297 | (2,782) | |
Defined benefit pension plan adjustments: | |||||
Amortization of prior service cost, Before-Tax Amount | [1] | 7 | 8 | 23 | 24 |
Amortization of prior service cost, Income Tax (Provision) Benefit | [1] | (1) | (1) | (6) | (6) |
Amortization of prior service cost, Net-of-Tax Amount | [1] | 6 | 7 | 17 | 18 |
Amortization of actuarial loss, Before-Tax Amount | [1] | 82 | 43 | 248 | 127 |
Amortization of actuarial loss, Income Tax (Provision) Benefit | [1] | (20) | (10) | (63) | (27) |
Amortization of actuarial loss, Net-of-Tax Amount | [1] | 62 | 33 | 185 | 100 |
Net change, Before-Tax Amount | 89 | 51 | 271 | 151 | |
Net change, Income Tax (Provision) Benefit | (21) | (11) | (69) | (33) | |
Net change, Net-of-Tax Amount | 68 | 40 | 202 | 118 | |
Other comprehensive (loss) income, Before-Tax Amount | 794 | (951) | 4,722 | (3,610) | |
Other comprehensive (loss) income, Income Tax (Provision) Benefit | (203) | 253 | (1,223) | 946 | |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | $ 591 | $ (698) | $ 3,499 | $ (2,664) | |
[1] | Included in net periodic pension cost, as described in Note 9 - "Net Periodic Benefit Costs" |
Segment Information (Schedule O
Segment Information (Schedule Of Business Segments) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)segment | Sep. 30, 2018USD ($) | |
Number of primary business segments | segment | 2 | |||
Net interest income (expense) | $ 13,621 | $ 12,086 | $ 39,263 | $ 35,734 |
Provision for loan losses | (431) | 252 | 197 | 1,678 |
NET INTEREST INCOME (EXPENSE) AFTER PROVISION FOR LOAN LOSSES | 14,052 | 11,834 | 39,066 | 34,056 |
Non-interest income | 5,164 | 4,764 | 14,089 | 12,189 |
Insurance service and fees | 3,225 | 3,215 | 8,568 | 7,132 |
Amortization expense | 112 | 112 | 336 | 168 |
Non-interest expense | 12,276 | 11,457 | 35,649 | 31,861 |
INCOME BEFORE INCOME TAXES | 6,940 | 5,141 | 17,506 | 14,384 |
Income tax provision | 1,776 | 346 | 4,240 | 2,479 |
NET INCOME | 5,164 | 4,795 | 13,266 | 11,905 |
Operating Segments [Member] | ||||
Net interest income (expense) | 13,621 | 12,086 | 39,263 | 35,734 |
Provision for loan losses | (431) | 252 | 197 | 1,678 |
NET INTEREST INCOME (EXPENSE) AFTER PROVISION FOR LOAN LOSSES | 14,052 | 11,834 | 39,066 | 34,056 |
Non-interest income | 1,939 | 1,549 | 5,521 | 5,057 |
Insurance service and fees | 3,225 | 3,215 | 8,568 | 7,132 |
Amortization expense | 112 | 112 | 336 | 168 |
Non-interest expense | 12,164 | 11,345 | 35,313 | 31,693 |
INCOME BEFORE INCOME TAXES | 6,940 | 5,141 | 17,506 | 14,384 |
Income tax provision | 1,776 | 346 | 4,240 | 2,479 |
NET INCOME | 5,164 | 4,795 | 13,266 | 11,905 |
Banking Activities [Member] | Operating Segments [Member] | ||||
Net interest income (expense) | 13,652 | 12,118 | 39,360 | 35,822 |
Provision for loan losses | (431) | 252 | 197 | 1,678 |
NET INTEREST INCOME (EXPENSE) AFTER PROVISION FOR LOAN LOSSES | 14,083 | 11,866 | 39,163 | 34,144 |
Non-interest income | 1,777 | 1,549 | 5,359 | 5,057 |
Insurance service and fees | 130 | 148 | 377 | 449 |
Non-interest expense | 9,778 | 9,247 | 28,775 | 26,436 |
INCOME BEFORE INCOME TAXES | 6,212 | 4,316 | 16,124 | 13,214 |
Income tax provision | 1,587 | 116 | 3,880 | 2,159 |
NET INCOME | 4,625 | 4,200 | 12,244 | 11,055 |
Insurance Agency Activities [Member] | Operating Segments [Member] | ||||
Net interest income (expense) | (31) | (32) | (97) | (88) |
NET INTEREST INCOME (EXPENSE) AFTER PROVISION FOR LOAN LOSSES | (31) | (32) | (97) | (88) |
Non-interest income | 162 | 162 | ||
Insurance service and fees | 3,095 | 3,067 | 8,191 | 6,683 |
Amortization expense | 112 | 112 | 336 | 168 |
Non-interest expense | 2,386 | 2,098 | 6,538 | 5,257 |
INCOME BEFORE INCOME TAXES | 728 | 825 | 1,382 | 1,170 |
Income tax provision | 189 | 230 | 360 | 320 |
NET INCOME | $ 539 | $ 595 | $ 1,022 | $ 850 |
Contingent Liabilities And Co_3
Contingent Liabilities And Commitments (Summary Of Commitments And Contingent Liabilities) (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | $ 351,513,000 | $ 294,164,000 | |
Losses on commitments | 0 | $ 0 | |
Reserve for commitments | 0 | $ 0 | |
Commitments To Extend Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | 347,081,000 | 290,785,000 | |
Standby Letters Of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | $ 4,432,000 | $ 3,379,000 |
Net Periodic Benefit Costs (Sch
Net Periodic Benefit Costs (Schedule Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 55 | $ 51 | $ 165 | $ 153 |
Expected return on plan assets | (70) | (78) | (208) | (234) |
Amortization of the net loss | 24 | 21 | 72 | 63 |
Net periodic cost (benefit) | 9 | (6) | 29 | (18) |
Supplemental Executive Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 37 | 47 | 109 | 141 |
Interest cost | 51 | 34 | 151 | 102 |
Amortization of prior service cost | 7 | 8 | 23 | 24 |
Amortization of the net loss | 58 | 22 | 176 | 64 |
Net periodic cost (benefit) | $ 153 | $ 111 | $ 459 | $ 331 |
Revenue Recognition Of Non-In_4
Revenue Recognition Of Non-Interest Income (Schedule Of Disaggregation Of Insurance Service And Other Fees) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 3,225 | $ 3,215 | $ 8,568 | $ 7,132 |
Commercial Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 1,382 | 1,330 | 3,267 | 2,665 |
Personal Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 863 | 917 | 2,618 | 2,249 |
Employee Benefits Sales Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 287 | 241 | 869 | 664 |
Profit Sharing And Contingent Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 430 | 486 | 939 | 790 |
Wealth Management And Other Financial Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 142 | 151 | 405 | 462 |
Insurance Claims Services Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 96 | 65 | 397 | 234 |
Other Insurance-Related Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 25 | $ 25 | $ 73 | $ 68 |