Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 30, 2020 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-35021 | |
Entity Registrant Name | EVANS BANCORP, INC. | |
Entity Incorporation, State or Country Code | NY | |
Entity Tax Identification Number | 16-1332767 | |
Entity Address, Address Line One | 6460 Main St. | |
Entity Address, City or Town | Williamsville | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 14221 | |
City Area Code | 716 | |
Local Phone Number | 926-2000 | |
Title of 12(b) Security | Common Stock, $0.50 par value | |
Trading Symbol | EVBN | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,384,139 | |
Amendment Flag | false | |
Entity Central Index Key | 0000842518 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2020 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and due from banks | $ 15,386 | $ 10,577 |
Interest-bearing deposits at banks | 88,249 | 28,280 |
Securities: | ||
Available for sale, at fair value (amortized cost: $152,100 at September 30, 2020; $127,217 at December 31, 2019) | 155,761 | 127,922 |
Held to maturity, at amortized cost (fair value: $5,084 at September 30, 2020; $2,392 at December 31, 2019) | 4,996 | 2,386 |
Federal Home Loan Bank common stock, at cost | 3,591 | 1,588 |
Federal Reserve Bank common stock, at cost | 2,323 | 1,956 |
Loans, net of allowance for loan losses of $20,601 at September 30, 2020 and $15,175 at December 31, 2019 | 1,682,475 | 1,211,356 |
Properties and equipment, net of accumulated depreciation of $21,851 at September 30, 2020 and $20,682 at December 31, 2019 | 18,726 | 13,754 |
Goodwill and intangible assets | 15,085 | 12,545 |
Bank-owned life insurance | 33,817 | 29,418 |
Operating lease right-of-use asset | 5,524 | 3,720 |
Other assets | 31,060 | 16,728 |
TOTAL ASSETS | 2,056,993 | 1,460,230 |
Deposits: | ||
Demand | 442,536 | 263,717 |
NOW | 215,492 | 140,654 |
Savings | 799,739 | 587,142 |
Time | 323,211 | 275,927 |
Total deposits | 1,780,978 | 1,267,440 |
Securities sold under agreement to repurchase | 4,414 | 2,425 |
Other borrowings | 47,583 | 10,000 |
Operating lease liability | 5,940 | 4,154 |
Other liabilities | 24,278 | 16,428 |
Junior subordinated debentures | 30,912 | 11,330 |
Total liabilities | 1,894,105 | 1,311,777 |
STOCKHOLDERS' EQUITY: | ||
Common stock, $0.50 par value, 10,000,000 shares authorized; 5,377,243 and 4,929,593 shares issued at September 30, 2020 and December 31, 2019, respectively, and 5,376,742 and 4,929,283 outstanding at September 30, 2020 and December 31, 2019, respectively | 2,691 | 2,467 |
Capital surplus | 75,824 | 63,302 |
Treasury stock, at cost, 501 and 310 shares at September 30, 2020 and December 31, 2019, respectively | ||
Retained earnings | 84,499 | 85,267 |
Accumulated other comprehensive income (loss), net of tax | (126) | (2,583) |
Total stockholders' equity | 162,888 | 148,453 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,056,993 | $ 1,460,230 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Securities: | ||
Available for sale, amortized cost | $ 152,100 | $ 127,217 |
Held to maturity, fair value | 5,084 | 2,392 |
Loans, allowance for loan losses | 20,601 | 15,175 |
Properties and equipment, accumulated depreciation | $ 21,851 | $ 20,682 |
STOCKHOLDERS' EQUITY: | ||
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,377,243 | 4,929,593 |
Common stock, shares outstanding | 5,376,742 | 4,929,283 |
Treasury stock, shares | 501 | 310 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
INTEREST INCOME | ||||
Loans | $ 16,847 | $ 15,645 | $ 47,497 | $ 45,149 |
Interest-bearing deposits at banks | 26 | 159 | 223 | 564 |
Securities: | ||||
Taxable | 825 | 993 | 2,758 | 2,736 |
Non-taxable | 68 | 48 | 180 | 263 |
Total interest income | 17,766 | 16,845 | 50,658 | 48,712 |
INTEREST EXPENSE | ||||
Deposits | 1,641 | 3,038 | 6,471 | 8,883 |
Other borrowings | 108 | 45 | 232 | 135 |
Junior subordinated debentures | 375 | 141 | 604 | 431 |
Total interest expense | 2,124 | 3,224 | 7,307 | 9,449 |
NET INTEREST INCOME | 15,642 | 13,621 | 43,351 | 39,263 |
PROVISION (CREDIT) FOR LOAN LOSSES | 1,881 | (431) | 5,477 | 197 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 13,761 | 14,052 | 37,874 | 39,066 |
NON-INTEREST INCOME | ||||
Deposit service charges | 598 | 687 | 1,623 | 1,822 |
Insurance service and fees | 3,217 | 3,225 | 8,309 | 8,568 |
Gain on sale of securities | 667 | 667 | 42 | |
Gain on loans sold | 169 | 43 | 359 | 105 |
Bank-owned life insurance | 170 | 160 | 508 | 492 |
Loss on tax credit investment | (2,475) | |||
Refundable state historic tax credit | 1,857 | |||
Interchange fee income | 481 | 438 | 1,270 | 1,299 |
Other | 555 | 611 | 1,316 | 1,761 |
Total non-interest income | 5,857 | 5,164 | 13,434 | 14,089 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 8,101 | 7,644 | 23,903 | 22,273 |
Occupancy | 1,204 | 853 | 3,127 | 2,561 |
Advertising and public relations | 503 | 231 | 895 | 612 |
Professional services | 865 | 1,009 | 2,651 | 2,683 |
Technology and communications | 1,365 | 1,057 | 3,928 | 3,049 |
Amortization of intangibles | 136 | 112 | 400 | 336 |
FDIC insurance | 290 | 751 | 357 | |
Merger-related | 524 | 5,958 | ||
Other | 1,480 | 1,370 | 3,737 | 3,778 |
Total non-interest expense | 14,468 | 12,276 | 45,350 | 35,649 |
INCOME BEFORE INCOME TAXES | 5,150 | 6,940 | 5,958 | 17,506 |
INCOME TAX PROVISION | 606 | 1,776 | 741 | 4,240 |
NET INCOME | $ 4,544 | $ 5,164 | $ 5,217 | $ 13,266 |
Net income per common share-basic | $ 0.85 | $ 1.05 | $ 1.01 | $ 2.71 |
Net income per common share-diluted | $ 0.84 | $ 1.04 | $ 1 | $ 2.68 |
Weighted average number of common shares outstanding | 5,376,851 | 4,918,740 | 5,179,386 | 4,889,029 |
Weighted average number of diluted shares outstanding | 5,395,806 | 4,976,639 | 5,214,950 | 4,957,689 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Consolidated Statements Of Comprehensive Income [Abstract] | ||||
NET INCOME | $ 4,544 | $ 5,164 | $ 5,217 | $ 13,266 |
Unrealized gain (loss) on available-for-sale securities: | ||||
Unrealized (loss) gain on available-for-sale securities | (339) | 523 | 2,684 | 3,328 |
Reclassification of gain on sale of securities | (494) | (494) | (31) | |
Net change, Net-of-Tax Amount | (833) | 523 | 2,190 | 3,297 |
Defined benefit pension plans: | ||||
Amortization of prior service cost | 6 | 6 | 17 | 17 |
Amortization of actuarial loss | 84 | 62 | 250 | 185 |
Total, Net-of-Tax | 90 | 68 | 267 | 202 |
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX | (743) | 591 | 2,457 | 3,499 |
COMPREHENSIVE INCOME | $ 3,801 | $ 5,755 | $ 7,674 | $ 16,765 |
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, 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 |
Balance at Dec. 31, 2019 | 2,467 | 63,302 | 85,267 | (2,583) | 148,453 |
Net Income | 5,217 | 5,217 | |||
Other comprehensive income | 2,457 | 2,457 | |||
Cash dividends | (5,985) | (5,985) | |||
Stock compensation expense | 668 | 668 | |||
Reissued restricted shares | |||||
Issued restricted shares, net of forfeitures | 3 | (3) | |||
Issued shares in Employee Stock Purchase Plan | 5 | 206 | 211 | ||
Issued shares in stock option exercises | 4 | 130 | 134 | ||
Issued shares in stock consideration | 212 | 11,521 | 11,733 | ||
Balance at Sep. 30, 2020 | 2,691 | 75,824 | 84,499 | (126) | 162,888 |
Balance at Jun. 30, 2020 | 2,691 | 75,617 | 83,073 | 617 | 161,998 |
Net Income | 4,544 | 4,544 | |||
Other comprehensive income | (743) | (743) | |||
Cash dividends | (3,118) | (3,118) | |||
Stock compensation expense | 207 | 207 | |||
Balance at Sep. 30, 2020 | $ 2,691 | $ 75,824 | $ 84,499 | $ (126) | $ 162,888 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders’ Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Consolidated Statements Of Changes In Stockholders’ Equity [Abstract] | ||||
Cash dividends per common share | $ 0.58 | $ 0.52 | $ 1.16 | $ 1.04 |
Reissued restricted shares | 310 | 500 | ||
Issued restricted shares, net of forfeitures | 5,988 | 22,120 | ||
Issued shares under Dividend Reinvestment Plan | 3,866 | |||
Issued shares in Employee Stock Purchase Plan | 10,669 | 6,183 | ||
Issued shares in stock option exercises | 4,703 | 8,017 | 29,058 | |
Issued shares in stock consideration | 422,475 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
OPERATING ACTIVITIES: | ||
Interest received | $ 47,190 | $ 48,957 |
Fees received | 12,462 | 13,404 |
Interest paid | (7,447) | (9,226) |
Cash paid to employees and vendors | (41,580) | (36,888) |
Income taxes paid | (1,957) | (1,586) |
Proceeds from sale of loans held for sale | 9,895 | 7,698 |
Originations of loans held for sale | (9,184) | (7,733) |
Net cash provided by operating activities | 9,379 | 14,626 |
INVESTING ACTIVITIES: | ||
Available for sales securities: Purchases | (76,311) | (46,893) |
Available for sales securities: Proceeds from sales, maturities, calls, and payments | 73,291 | 48,694 |
Held to maturity securities: Purchases | (5,082) | (1,141) |
Held to maturity securities: Proceeds from maturities, calls, and payments | 2,471 | 307 |
Cash paid for bank-owned life insurance | (360) | |
Additions to properties and equipment | (3,874) | (4,513) |
Proceeds from sales of assets | 185 | |
Purchase of tax credit investment | (3,116) | |
Net cash used in acquisitions | (6,490) | |
Sale of other real estate | 718 | |
Net increase in loans | (204,679) | (62,823) |
Net cash used in investing activities | (223,072) | (66,544) |
FINANCING ACTIVITIES: | ||
Proceeds from borrowings | 20,274 | 4,275 |
Repayment of short-term borrowing | (13,646) | |
Net increase in deposits | 274,365 | 43,748 |
Dividends paid | (2,867) | (2,528) |
Issuance of common stock | 345 | 852 |
Net cash provided by financing activities | 278,471 | 46,347 |
Net increase in cash and cash equivalents | 64,778 | (5,571) |
CASH AND CASH EQUIVALENTS: | ||
Beginning of period | 38,857 | 39,915 |
End of period | 103,635 | 34,344 |
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: | ||
Net income | 5,217 | 13,266 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 2,107 | 1,505 |
Deferred tax benefit | (2,720) | (201) |
Provision for loan losses | 5,477 | 197 |
Loss on tax credit investment | 2,475 | |
Changes in refundable state historic tax credit | (1,857) | |
Net gain on sales of assets | (90) | (3) |
Gain on sales of securities | (667) | (42) |
Gain on loans sold | (359) | (105) |
Stock compensation expense | 668 | 692 |
Proceeds from sale of loans held for sale | 9,895 | 7,698 |
Originations of loans held for sale | (9,184) | (7,733) |
Changes in assets and liabilities affecting cash flow: | ||
Other assets | (4,647) | (5,508) |
Other liabilities | 3,064 | 4,860 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 9,379 | 14,626 |
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTMENTS AND FINANCIAL ACTIVITIES: | ||
Fair value of assets acquired in acquisition (non-cash) | 311,847 | |
Fair value of liabilities assumed in acquisition | $ 296,076 |
Organization And Summary Of Sig
Organization And Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
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 Financial Accounting Standards Board (“FASB”) establishes changes to 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 adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. The results of operations for the nine month period ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus ("COVID-19") a global pandemic, and recommended containment and mitigation measures worldwide. Federal and state governments have taken unprecedented actions to contain the spread of the disease, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief to businesses and individuals impacted by the pandemic. Although in various locations certain activity restrictions have been relaxed with some level of success, in many states and localities the number of individuals diagnosed with COVID-19 has increased significantly, which is causing a freezing or, in certain cases, a reversal of previously announced relaxation of activity restrictions and is prompting the need for additional aid and other forms of relief. Management is currently unable to determine the extent of the potential impacts to the Company’s financial condition or results of operations. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act was passed by Congress on March 27, 2020. In keeping with regulatory guidance to work with borrowers during this unprecedented situation and as outlined in the CARES Act, the Company has worked with customers directly affected by COVID-19 and offered short-term assistance in accordance with regulatory guidelines. Commercial borrowers needing assistance have been offered a 90-day principal and interest deferral. Commercial borrowers that originally requested a 90-day deferral can request an additional 90-day deferral by providing their financial information, including current year interim financial information and projections to show a need for the additional 90-day deferral. Consumers needing assistance have been offered a 90-day principal and interest deferral with an option to request an additional 90-day deferral. As of October 20, 2020, total deferrals amounted to $ 8 million compared with $ 407 million at June 30, 2020. While interest and fees will still accrue to income, should credit losses on these deferred payments emerge, interest income and fees accrued would need to be reversed. In such a scenario, interest income in future periods could be negatively impacted. The Company recognizes the breadth of the economic impact may affect its borrowers’ ability to repay in future periods. We continue to actively monitor developments related to COVID-19 and its impact to our business, customers, employees, counterparties, vendors, and service providers. During the third quarter of 2020, the Company identified a well-defined weakness in the hotel industry resulting in downgrades of the credit risk ratings for a majority of the loans to clients within that industry. As of September 30, 2020, the Company’s hotel loan portfolio was $ 81 million, or approximately 6.5 %, of total commercial loans. During the first nine months of 2020, the most notable financial impacts to our results of operations was a higher provision for loan losses primarily reflecting the substantial increase in economic uncertainty and the resultant potential for increased credit losses in future periods as a consequence of the COVID-19 pandemic. 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, 2019 (“10-K”). There have been no significant changes to the Company’s significant accounting policies as disclosed in Note 1 to the 10-K, as supplemented by the disclosure in footnote 1 to the Consolidated Financial Statements in Part I of the Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. |
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2020 | |
Acquisitions [Abstract] | |
Acquisitions | 2. ACQUISITIONS On May 1, 2020, the Company completed the acquisition of FSB Bancorp, Inc., a Maryland corporation and the parent holding company of Fairport Savings Bank (“FSB”). On that date, FSB was merged into Evans Bank, a wholly owned banking subsidiary of the Company. At the time of closing, FSB had $ 321.7 million in total assets, including $ 272.1 million in net loans receivable and $ 21.4 million in securities, and $ 293.1 million in total liabilities, including $ 237.7 million in deposits and $ 50.6 million in borrowings. FSB operated 5 banking offices in New York at the date of acquisition. After application of the election, allocation and proration procedures contained in the merger agreement, the Company paid $ 17.1 million in cash and issued 422,475 shares of Evans Bancorp, Inc. common stock in exchange for all of the shares of common stock of FSB Bancorp, Inc. outstanding at the time of the acquisition. The $ 11.7 million fair value of the shares issued as part of the consideration paid for FSB was determined on the basis of the closing market price of the Company’s shares on April 30, 2020. The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting. The assets and liabilities, both tangible and intangible were recorded at their fair values as of May 1, 2020 based on management’s best estimate using the information available as of the merger date. The application of the acquisition method of accounting resulted in the recognition of goodwill of $ 1.8 million and a core deposit intangible of $ 0.2 million. Accounting guidance provides that an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period, which runs through May 1, 2021, in the measurement period in which the adjustment amounts are determined. The acquirer must record in the financial statements, the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the changes to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The Company will prepare tax returns related to the operation of the combined entities and the acquired entity and believes certain adjustments to income tax balances and goodwill may result upon completion of these returns. The Company recorded the assets acquired and liabilities assumed through the merger at fair value as summarized in the following table: As Recorded Fair Value As Recorded by FSB Adjustments at Acquisition (in thousands) Cash and due from banks $ 1,978 $ - $ 1,978 Interest-bearing deposit at banks 9,339 - 9,339 Securities 21,371 106 (a) 21,477 FHLB Stock 2,614 - 2,614 Loans receivable 273,869 ( 2,484 ) (b) 271,385 Allowance for loan losses ( 1,706 ) 1,706 (c) - Premises and equipment 2,303 ( 56 ) (d) 2,247 Intangible assets - 166 (e) 166 Bank owned life insurance 3,891 - 3,891 Operating lease right-of-use asset 2,020 374 (f) 2,394 Other assets 6,033 1,640 (g) 7,673 Total assets acquired $ 321,712 $ 1,452 $ 323,164 Deposits 237,688 1,485 (h) 239,173 Other borrowed funds 50,597 1,929 (i) 52,526 Operating lease liability 2,217 176 (j) 2,393 Other liabilities 2,557 ( 573 ) (k) 1,984 Total liabilities assumed $ 293,059 $ 3,017 $ 296,076 Net assets acquired 27,088 Purchase price 28,856 Goodwill recorded in merger $ 1,768 Explanation of certain fair value related adjustments: (a) Represents the fair value adjustments on investment securities. (b) Represents the fair value adjustments on the net book value of loans, which includes an interest rate mark and credit mark adjustment and the write-off of deferred fees/costs and premiums. (c) Represents the elimination of FSB’s allowance for loan losses. (d) Represents the fair value adjustments to reflect the fair value of land and buildings and premises and equipment, which will be amortized on a straight-line basis over the estimated useful lives of the individual assets. (e) Represents the intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base. (f) Represents the fair value adjustments on operating lease right of use assets. (g) Represents an adjustment to other assets acquired. The largest adjustment was to net deferred tax assets resulting from the fair value adjustments related to the acquired assets, liabilities assumed and identifiable intangible assets recorded. (h) Represents fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits. (i) Represents the fair value adjustments on FHLB borrowings, which will be treated as a decrease to interest expense over the life of the borrowings. (j) Represents the fair value adjustments on operating lease liabilities. (k) Represents an adjustment to other liabilities assumed. The fair value of loans acquired from FSB were estimated using cash flow projections based on the remaining maturity and repricing terms. Cash flows were adjusted by estimating future credit losses and the rate of prepayments. Projected monthly cash flows were then discounted to present value using a risk-adjusted market rate for similar loans. There was no carryover of FSB’s allowance for loan losses associated with the loans that were acquired, as the loans were initially recorded at fair value on the date of the FSB merger. The core deposit intangible asset recognized is being amortized over its estimated useful life of approximately 10 years and the amortization is based on dollar weighted deposit runoff on an annualized basis. Goodwill is not amortized for book purposes; however, it is reviewed at least annually for impairment and is not deductible for tax purposes. The fair value of land and buildings was estimated using appraisals. Acquired equipment was not material. Buildings are amortized over their estimated useful lives of approximately 39 years. Improvements and equipment are amortized or depreciated over their estimated useful lives ranging up to 10 years. The fair value of retail demand and interest bearing deposit accounts was assumed to approximate the carrying value as these accounts have no stated maturity and are payable on demand. The fair value of time deposits was estimated by discounting the contractual future cash flows using market rates offered for time deposits of similar remaining maturities. Other borrowed funds include borrowings from the Federal Home Loan Bank (“FHLB”). The fair value of these borrowings was estimated by discounting the contractual future cash flows using FHLB rates offered of similar maturities. Direct acquisition and other charges incurred in connection with the FSB merger were expensed as incurred and totaled $ 6.0 million for the nine months ended September 30, 2020. These expenses were recorded in merger-related expense on the consolidated statements of income. The following table presents selected unaudited pro forma financial information reflecting the FSB merger assuming it was completed as of January 1, 2019. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the financial results of the combined companies had the FSB merger actually been completed at the beginning of the periods presented, nor does it indicate future results for any other interim or full year period. The unaudited pro forma information is based on the actual financial statements of the Company for the periods presented, and on the actual financial statements of FSB for the three and nine months ended September 30, 2020 and 2019 until the date of the FSB merger, at which time FSB’s results of operations were included in the Company’s financial statements. Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (in thousands) Net Interest Income $ 13,250 $ 15,779 $ 40,014 $ 46,185 Non-Interest Income 5,857 5,718 14,023 15,441 Non-Interest Expense 13,944 14,764 42,905 43,026 Net Income 4,554 5,355 9,046 14,416 The unaudited supplemental pro forma information for the three and nine months ended September 30, 2020 and 2019 set forth above reflects adjustments related to (a) purchase accounting fair value adjustments; (b) amortization of core deposit; and (c) adjustments to interest income and expense due to amortization of premiums and accretion of discounts. Direct merger-related expenses incurred in the three and nine months periods ended September 30, 2020 are assumed to have occurred prior to January 1, 2019. Furthermore, the unaudited supplemental pro forma information does not reflect management’s estimate of any revenue enhancement opportunities or anticipated potential cost savings for periods that include data as of May 1, 2020 or earlier. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2020 | |
Securities [Abstract] | |
Securities | 3. SECURITIES The amortized cost of securities and their approximate fair value at September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 61,631 $ 776 $ ( 128 ) $ 62,279 States and political subdivisions 7,375 175 ( 5 ) 7,545 Total debt securities 69,006 951 ( 133 ) 69,824 Mortgage-backed securities: FNMA 24,305 750 ( 18 ) 25,037 FHLMC 4,066 120 - 4,186 GNMA 2,305 46 ( 1 ) 2,350 SBA 21,259 977 ( 34 ) 22,202 CMO 31,159 1,003 - 32,162 Total mortgage-backed securities 83,094 2,896 ( 53 ) 85,937 Total securities designated as available for sale $ 152,100 $ 3,847 $ ( 186 ) $ 155,761 Held to Maturity: Debt securities States and political subdivisions $ 4,996 $ 88 $ - $ 5,084 z Total securities designated as held to maturity $ 4,996 $ 88 $ - $ 5,084 December 31, 2019 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 27,951 $ 225 $ ( 21 ) $ 28,155 States and political subdivisions 3,289 69 ( 7 ) 3,351 Total debt securities 31,240 294 ( 28 ) 31,506 Mortgage-backed securities: FNMA 34,395 330 ( 53 ) 34,672 FHLMC 15,390 137 ( 13 ) 15,514 GNMA 3,421 16 ( 24 ) 3,413 SBA 13,752 90 ( 70 ) 13,772 CMO 29,019 190 ( 164 ) 29,045 Total mortgage-backed securities 95,977 763 ( 324 ) 96,416 Total securities designated as available for sale $ 127,217 $ 1,057 $ ( 352 ) $ 127,922 Held to Maturity: Debt securities States and political subdivisions $ 2,386 $ 24 $ ( 18 ) $ 2,392 Total securities designated as held to maturity $ 2,386 $ 24 $ ( 18 ) $ 2,392 Available for sale securities with a total fair value of $ 128 million and $ 102 million at September 30, 2020 and December 31, 2019, 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, 2020 and December 31, 2019 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, 2020 December 31, 2019 Amortized Estimated Amortized Estimated cost fair value cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 3,790 $ 3,802 $ 6,005 $ 6,014 Due after one year through five years 7,768 7,971 6,481 6,626 Due after five years through ten years 23,959 24,658 18,754 18,866 Due after ten years 33,489 33,393 - - 69,006 69,824 31,240 31,506 Mortgage-backed securities available for sale 83,094 85,937 95,977 96,416 Total $ 152,100 $ 155,761 $ 127,217 $ 127,922 Debt securities held to maturity: Due in one year or less $ 3,944 $ 3,949 $ 1,139 $ 1,140 Due after one year through five years 564 597 712 732 Due after five years through ten years 45 48 54 54 Due after ten years 443 490 481 466 Total $ 4,996 $ 5,084 $ 2,386 $ 2,392 Contractual maturities of the Company’s mortgage-backed securities generally exceed ten year s; however, the effective lives may be significantly shorter due to prepayments of the underlying loans and due to the nature of these securities. During the three months ended September 30, 2020, the Company received $ 23.3 million from the sale of investment securities. Gross realized gains from sales of investment securities for the three month and nine month periods ended September 30, 2020 were $ 0.7 million. There were no significant gross realized gains or losses from sales of investment securities for the three month and nine month periods ended September 30, 2019. Information regarding unrealized losses within the Company’s available for sale securities at September 30, 2020 and December 31, 2019 is summarized below. The securities are primarily U.S. government-guaranteed agency securities or municipal securities. September 30, 2020 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 $ 27,432 $ ( 128 ) $ - $ - $ 27,432 $ ( 128 ) States and political subdivisions - - 181 ( 5 ) 181 ( 5 ) Total debt securities 27,432 ( 128 ) 181 ( 5 ) 27,613 ( 133 ) Mortgage-backed securities: FNMA 238 ( 1 ) 1,396 ( 17 ) 1,634 ( 18 ) FHLMC 90 - - - 90 - GNMA 156 ( 1 ) - - 156 ( 1 ) SBA - - 1,406 ( 34 ) 1,406 ( 34 ) CMO - - - - - - Total mortgage-backed securities 484 ( 2 ) 2,802 ( 51 ) 3,286 ( 53 ) Held to Maturity: Debt securities: States and political subdivisions - - - - - - Total temporarily impaired securities $ 27,916 $ ( 130 ) $ 2,983 $ ( 56 ) $ 30,899 $ ( 186 ) December 31, 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 $ 1,976 $ ( 18 ) $ 3,997 $ ( 3 ) $ 5,973 $ ( 21 ) States and political subdivisions - - 181 ( 7 ) 181 ( 7 ) Total debt securities 1,976 ( 18 ) 4,178 ( 10 ) 6,154 ( 28 ) Mortgage-backed securities: FNMA 5,355 ( 38 ) 3,630 ( 15 ) 8,985 ( 53 ) FHLMC - - 1,242 ( 13 ) 1,242 ( 13 ) GNMA 2,091 ( 22 ) 770 ( 2 ) 2,861 ( 24 ) SBA 5,171 ( 70 ) - - 5,171 ( 70 ) CMO 5,706 ( 36 ) 8,911 ( 128 ) 14,617 ( 164 ) Total mortgage-backed securities 18,323 ( 166 ) 14,553 ( 158 ) 32,876 ( 324 ) Held to Maturity: Debt securities: States and political subdivisions 227 ( 1 ) 2,165 ( 17 ) 2,392 ( 18 ) Total temporarily impaired securities $ 20,526 $ ( 185 ) $ 20,896 $ ( 185 ) $ 41,422 $ ( 370 ) Management has assessed the securities available for sale in an unrealized loss position at September 30, 2020 and December 31, 2019 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 no t recorded any other-than-temporary impairment (“OTTI”) charges during the nine months ended September 30, 2020 and did no t record any OTTI charges during 2019. 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. |
Loans And The Allowance For Loa
Loans And The Allowance For Loan Losses | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 December 31, 2019 Mortgage loans on real estate: (in thousands) Residential mortgages $ 364,598 $ 158,572 Commercial and multi-family 702,624 645,036 Construction-Residential 6,761 1,067 Construction-Commercial 102,011 97,848 Home equities 84,863 69,351 Total real estate loans 1,260,857 971,874 Commercial and industrial loans 448,092 251,197 Consumer and other loans 412 1,926 Unaccreted yield adjustments* ( 6,285 ) 1,534 Total gross loans 1,703,076 1,226,531 Allowance for loan losses ( 20,601 ) ( 15,175 ) Loans, net $ 1,682,475 $ 1,211,356 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $ 5.8 million of PPP fees at September 30, 2020. The CARES Act established a loan program administered through the U.S. Small Business Administration (SBA), referred to as the paycheck protection program (“PPP”). PPP loans are 100% guaranteed by the SBA and are forgivable, in whole or in part, if the proceeds are used for payroll and other permitted purposes in accordance with the requirements of the PPP. These loans carry a fixed rate of 1.00 % and a term of two year s (loans made before June 5, 2020) or five year s (loans made on or after June 5, 2020), if not forgiven, in whole or in part. Payments are deferred until either the date on which the SBA remits the amount of forgiveness proceeds to the lender or the date that is 10 months after the last day of the covered period if the borrower does not apply for forgiveness within that 10 month period. Through September 30, 2020, the Company had originated 1,931 PPP loans totaling $ 203 million, included in commercial and industrial loans. PPP loans did not impact the Company’s allowance for loan loss as a result of the SBA guarantees. Fees collected from the SBA for these loans in the nine month period ended September 30, 2020 totaled $ 7.4 million. These fees are deferred and amortized into interest income over the contractual period of the loan. Upon SBA forgiveness or sale of a PPP loan, unamortized fees are then recognized into interest income. As of September 30, 2020, no PPP loans had received SBA forgiveness. In connection with the FSB acquisition, the Company acquired $ 271 million in total loans, primarily residential real estate. At September 30, 2020, the outstanding principal balance and carrying amount of acquired credit-impaired loans totaled $ 0.9 million and $ 0.8 million, respectively. The Company is not recording interest on the acquired credit-impaired loans due to the uncertainty of the cash flows relating to such loans. There were no valuation allowances for specifically identified impairment attributable to acquired credit-impaired loans at September 30, 2020. The Company did no t have any acquired credit-impaired loans as of December 31, 2019. Also in connection with the FSB acquisition, the Company acquired a loan serving portfolio of $ 107 million in principal balances in which residential real estate loans were sold to FHLMC and the servicing rights are retained by the Company. No loans were sold to FHLMC by the Company during the three and nine month periods ending September 30, 2020 and 2019. The Company also sells certain fixed rate residential mortgages to FNMA while maintaining the servicing rights for those mortgages. In the three and nine month periods ended September 30, 2020, the Company sold mortgages to FNMA totaling $ 7.2 million and $ 15.0 million, respectively. In the three and nine month periods ended September 30, 2019, the Company sold mortgages to FNMA totaling $ 3.0 million and $ 7.6 million, respectively. At September 30, 2020 and December 31, 2019, the Company had loan servicing portfolio principal balances of $ 185 million and $ 76 million, respectively, upon which it earned servicing fees. The fair value of the mortgage servicing rights for that portfolio was $ 1.0 million and $ 0.6 million at September 30, 2020 and December 31, 2019, respectively. At September 30, 2020 there were no residential mortgages held for sale. At December 31, 2019 there were $ 0.7 million in residential mortgages held for sale. 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, 2019. 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, 2019. The accounting policy for loans acquired in a business combination is included in Note 1 of the Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. There have been no significant changes to the Company’s significant accounting policies as disclosed in Note 1 to the 10-K, as supplemented in the Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. Credit Quality Indicators The Company monitors the credit risk in its loan portfolio by reviewing certain credit quality indicators (“CQI”). The primary CQI for the commercial mortgage and commercial and industrial 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 “Special mention” and “substandard” loans are weaker credits with a higher risk of loss and are categorized as “criticized” assets. 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 Company continues to evaluate its loan portfolio in response to the economic impact of the COVID-19 pandemic on its clients. The increase in the watch category during the nine months ended September 30, 2020 was a result of the Company reclassifying all commercial loans that received a deferral into the watch or criticized categories. The Company will reassess the watch classification after the deferral’s termination dates and evidence of continuation of payments as contracted. During the third quarter of 2020, the Company identified a well-defined weakness in the hotel industry and classified the loans to clients within that industry as substandard. As of September 30, 2020, the Company’s hotel loan portfolio was $ 81 million, or approximately 6.5 %, of total commercial loans. As a result, total criticized assets increased to $ 133 million at September 30, 2020 compared with $ 51 million at the end of the 2019. The following tables provide data, at the class level, of credit quality indicators of certain loans for the dates specified: September 30, 2020 (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 $ 52,162 $ 314,997 $ 367,159 $ 339,810 Watch 21,322 303,965 325,287 87,414 Special Mention 2,088 13,985 16,073 5,855 Substandard 26,439 69,677 96,116 15,013 Doubtful/Loss - - - - Total $ 102,011 $ 702,624 $ 804,635 $ 448,092 December 31, 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 $ 73,646 $ 451,297 $ 524,943 $ 165,255 Watch 13,380 171,277 184,657 68,665 Special Mention 8,359 15,725 24,084 7,631 Substandard 2,463 6,737 9,200 9,646 Doubtful/Loss - - - - Total $ 97,848 $ 645,036 $ 742,884 $ 251,197 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, 2020 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 440,340 $ 575 $ 227 $ - $ 6,950 $ 448,092 Residential real estate: Residential 360,418 58 1,266 - 2,856 364,598 Construction 6,038 - 723 - - 6,761 Commercial real estate: Commercial 687,280 - 6,053 594 8,697 702,624 Construction 100,555 - 150 - 1,306 102,011 Home equities 82,864 929 11 - 1,059 84,863 Consumer and other 398 3 7 4 - 412 Total Loans $ 1,677,893 $ 1,565 $ 8,437 $ 598 $ 20,868 $ 1,709,361 Note: Loan balances do not include $( 6.3 ) million of unaccreted yield adjustments as of September 30, 2020. December 31, 2019 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 245,658 $ 705 $ - $ - $ 4,834 $ 251,197 Residential real estate: Residential 153,630 2,616 888 - 1,438 158,572 Construction 865 - 202 - - 1,067 Commercial real estate: Commercial 630,016 3,482 5,879 - 5,659 645,036 Construction 92,667 2,886 720 - 1,575 97,848 Home equities 67,868 354 239 - 890 69,351 Consumer and other 1,907 15 4 - - 1,926 Total Loans $ 1,192,611 $ 10,058 $ 7,932 $ - $ 14,396 $ 1,224,997 Note: Loan balances do not include $ 1.5 m illion of unamortized yield adjustments as of December 31, 2019. Allowance for loan losses The following tables present the activity in the allowance for loan losses according to portfolio segment for the three month periods ended September 30, 2020 and 2019. September 30, 2020 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 5,260 $ 11,625 $ 233 $ 1,147 489 $ 18,754 Charge-offs ( 124 ) ( 5 ) ( 14 ) - - ( 143 ) Recoveries 105 - 4 - - 109 Provision (Credit) ( 23 ) 1,843 ( 187 ) 218 30 1,881 Ending balance $ 5,218 $ 13,463 $ 36 $ 1,365 $ 519 $ 20,601 September 30, 2019 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) 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 * Includes construction loans The following tables present the activity in the allowance for loan losses according to portfolio segment for the nine month periods ended September 30, 2020 and 2019: Nine months ended September 30, 2020 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,547 $ 9,005 $ 155 $ 1,071 $ 397 $ 15,175 Charge-offs ( 143 ) ( 5 ) ( 44 ) ( 29 ) ( 4 ) ( 225 ) Recoveries 141 11 22 - - 174 Provision (Credit) 673 4,452 ( 97 ) 323 126 5,477 Ending balance $ 5,218 $ 13,463 $ 36 $ 1,365 $ 519 $ 20,601 * Includes construction loans Note: Loan balances do not include $( 6.3 ) million of unaccreted yield adjustments as of September 30, 2020. Nine months ended 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 * Includes construction loans Note: Loan balances do not include $ 1.6 million of unamortized yield adjustments as of September 30, 2019. The following table presents the allocation of the allowance for loan losses according to portfolio segment summarized on the basis of the Company’s impairment methodology as of September 30, 2020 and December 31, 2020: September 30, 2020 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment 1,103 154 - - - 1,257 Collectively evaluated for impairment 4,115 13,309 36 1,365 519 19,344 Total $ 5,218 $ 13,463 $ 36 $ 1,365 $ 519 $ 20,601 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 870 $ - $ 870 Individually evaluated for impairment 7,160 10,502 - 3,138 1,492 22,292 Collectively evaluated for impairment 440,932 794,133 412 367,351 83,371 1,686,199 Total $ 448,092 $ 804,635 $ 412 $ 371,359 $ 84,863 $ 1,709,361 * Includes construction loans December 31, 2019 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 442 $ 9 $ 21 $ 5 $ - $ 477 Collectively evaluated for impairment 4,105 8,996 134 1,066 397 14,698 Total $ 4,547 $ 9,005 $ 155 $ 1,071 $ 397 $ 15,175 Loans: Ending balance: Individually evaluated for impairment $ 6,558 $ 7,791 $ 21 $ 2,804 $ 1,453 $ 18,627 Collectively evaluated for impairment 244,639 735,093 1,905 156,835 67,898 1,206,370 Total $ 251,197 $ 742,884 $ 1,926 $ 159,639 $ 69,351 $ 1,224,997 * Includes construction loans Impaired Loans The following tables provide data, at the class level, for impaired loans as of the dates indicated: At September 30, 2020 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 $ 2,358 $ 2,580 $ - $ 2,624 $ 79 $ 29 Residential real estate: Residential 3,954 4,314 - 4,018 76 49 Construction - - - - - - Commercial real estate: Commercial 5,824 6,398 - 6,056 180 36 Construction 1,306 1,352 - 1,326 26 - Home equities 1,492 1,714 - 1,565 41 16 Consumer and other - - - - - - Total impaired loans $ 14,934 $ 16,358 $ - $ 15,589 $ 402 $ 130 At September 30, 2020 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 $ 4,802 $ 4,942 $ 1,103 $ 4,941 $ 189 $ 15 Residential real estate: Residential - - - - - - Construction - - - - - - Commercial real estate: Commercial 3,372 3,396 154 3,378 101 10 Construction - - - - - - Home equities - - - - - - Consumer and other - - - - - - Total impaired loans $ 8,174 $ 8,338 $ 1,257 $ 8,319 $ 290 $ 25 At September 30, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 7,160 $ 7,522 $ 1,103 $ 7,565 $ 268 $ 44 Residential real estate: Residential 3,954 4,314 - 4,018 76 49 Construction - - - - - - Commercial real estate: Commercial 9,196 9,794 154 9,434 281 46 Construction 1,306 1,352 - 1,326 26 - Home equities 1,492 1,714 - 1,565 41 16 Consumer and other - - - - - - Total impaired loans $ 23,108 $ 24,696 $ 1,257 $ 23,908 $ 692 $ 155 At December 31, 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 $ 3,798 $ 4,112 $ - $ 4,046 $ 118 $ 143 Residential real estate: Residential 2,744 3,003 - 2,823 73 63 Construction - - - - - - Commercial real estate: Commercial 6,019 6,521 - 6,293 225 72 Construction 1,335 1,352 - 1,344 23 50 Home equities 1,453 1,687 - 1,525 64 30 Consumer and other - - - - - - Total impaired loans $ 15,349 $ 16,675 $ - $ 16,031 $ 503 $ 358 At December 31, 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 $ 2,760 $ 2,808 $ 442 $ 2,764 $ 109 $ 63 Residential real estate: Residential 60 62 5 61 3 1 Construction - - - - - - Commercial real estate: Commercial 197 197 4 197 8 4 Construction 240 246 5 242 8 9 Home equities - - - - - - Consumer and other 21 23 21 22 - 1 Total impaired loans $ 3,278 $ 3,336 $ 477 $ 3,286 $ 128 $ 78 At December 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 6,558 $ 6,920 $ 442 $ 6,810 $ 227 $ 206 Residential real estate: Residential 2,804 3,065 5 2,884 76 64 Construction - - - - - - Commercial real estate: Commercial 6,216 6,718 4 6,490 233 76 Construction 1,575 1,598 5 1,586 31 59 Home equities 1,453 1,687 - 1,525 64 30 Consumer and other 21 23 21 22 - 1 Total impaired loans $ 18,627 $ 20,011 $ 477 $ 19,317 $ 631 $ 436 Troubled debt restructurings The following tables summarize the loans that were classified as troubled debt restructurings (“TDRs”) as of the dates indicated: September 30, 2020 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,828 $ 1,618 $ 210 $ 360 Residential real estate: Residential 1,741 589 1,152 - Construction - - - - Commercial real estate: Commercial and multi-family 3,463 2,965 498 - Construction - - - - Home equities 562 129 433 - Consumer and other - - - - Total TDR loans $ 7,594 $ 5,301 $ 2,293 $ 360 December 31, 2019 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 2,052 $ 328 $ 1,724 $ 26 Residential real estate: Residential 1,815 449 1,366 - Construction - - - - Commercial real estate: Commercial and multi-family 3,632 3,075 557 - Construction - - - - Home equities 738 175 563 - Consumer and other 21 - 21 21 Total TDR loans $ 8,258 $ 4,027 $ 4,231 $ 47 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 month s 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. 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. In late March 2020, federal banking regulators issued guidance that modifications made to a borrower affected by the COVID-19 pandemic and governmental shutdown orders do not need to be identified as a TDR if the loan was current at the time a modification plan was implemented. The CARES Act also addressed COVID-19 related modifications and specified that such modifications made on loans that were current as of December 31, 2019 are not TDRs. As of September 30, 2020, the Company had applied this guidance and had made 381 modifications of commercial loans with principal balances totaling $ 368 million, and 298 modifications of consumer loans with principal balances totaling $ 37 million. The following tables present TDR activity by the type of concession granted to the borrower for the three and nine month periods ended September 30 , 2020 and 2019: Three months ended September 30, 2020 Three months ended September 30, 2019 (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 Term-out line of credit - - - 1 42 42 Residential Real Estate & Construction: Extension of maturity and interest rate reduction 1 97 97 3 307 307 Commercial Real Estate & Construction - - - - - - Home Equities: Extension of maturity and interest rate reduction - - - 1 110 110 Consumer and other loans - - - - - - Other - - - - - - Nine months ended September 30, 2020 Nine months ended September 30, 2019 (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 Term-out line of credit - - - 1 42 42 Residential Real Estate & Construction: Combination of concessions 1 56 56 - - - Extension of maturity and interest rate reduction 1 97 97 3 307 307 Commercial Real Estate & Construction - - - - - - Home Equities: 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, 2020 and 2019 were not material. |
Goodwill
Goodwill | 9 Months Ended |
Sep. 30, 2020 | |
Goodwill [Abstract] | |
Goodwill | 5. GOODWILL The following table presents changes to goodwill and intangible assets for the three and nine month periods ended September 30, 2020 and 2019: Goodwill Core Deposit Intangibles Other Intangibles (in thousands) Balance at June 30, 2020 $ 12,715 $ 162 $ 2,345 Amortization - ( 7 ) ( 130 ) Balance at September 30, 2020 $ 12,715 $ 155 $ 2,215 Balance at June 30, 2019 $ 10,520 $ - $ 2,248 Amortization - - ( 111 ) Balance at September 30, 2019 $ 10,520 $ - $ 2,137 Goodwill Core Deposit Intangibles Other Intangibles (in thousands) Balance at December 31, 2019 $ 10,520 $ - $ 2,025 Acquisition of Benefit Brokers of WNY, LLC 427 - 580 Acquisition of FSB 1,768 166 - Amortization - ( 11 ) ( 390 ) Balance at September 30, 2020 $ 12,715 $ 155 $ 2,215 Balance at December 31, 2018 $ 10,520 $ - $ 2,472 Amortization - - ( 335 ) Balance at September 30, 2019 $ 10,520 $ - $ 2,137 |
Subordinated Debt
Subordinated Debt | 9 Months Ended |
Sep. 30, 2020 | |
Subordinated Debt [Abstract] | |
Subordinated Debt | 6. SubordinateD Debt On July 9, 2020, the Company entered into Subordinated Note Purchase Agreements with certain qualified institutional buyers and institutional accredited investors pursuant to which the Company issued and sold $ 20.0 million in aggregate principal amount of its 6.00 % Fixed-to-Floating Rate Subordinated Notes due 2030 (the “2020 Notes”). The 2020 Notes were offered and sold by the Company to eligible purchasers in a private offering. Net of debt issuance costs, the Company received $ 19.5 million for the sale of the 2020 Notes. The Company intends to use the proceeds from the offering for general corporate purposes, organic growth and regulatory capital. The 2020 Notes mature on July 15, 2030 and bear interest at a fixed annual rate of 6.00 %, payable semi-annually in arrears, to but excluding July 15, 2025. From and including July 15, 2025 to but excluding the maturity date or early redemption date, the interest rate will reset quarterly to an interest rate per annum initially equal to the then-current three-month Secured Overnight Financing Rate provided by the Federal Reserve Bank of New York plus 590 basis points, payable quarterly in arrears. The Company is entitled to redeem the 2020 Notes, in whole or in part, at any time on or after July 15, 2025, and to redeem the 2020 Notes at any time in whole upon certain other events. Any redemption of the 2020 Notes will be subject to prior regulatory approval to the extent required. In connection with the issuance and sale of the 2020 Notes, the Company entered into Registration Rights Agreements with the purchasers of the 2020 Notes, pursuant to which the Company has agreed to take certain actions to provide for the exchange of the 2020 Notes for subordinated notes that are registered under the Securities Act of 1933, as amended, with substantially the same terms as the 2020 Notes. In connection with the Registration Rights Agreements, the Company filed a Registration Statement on Form S-4 with the Securities and Exchange Commission on September 3, 2020 and commenced an exchange offer on October 7, 2020. The exchange offer is expected to expire on November 9, 2020. On October 1, 2004, Evans Capital Trust I, a statutory business trust wholly-owned by the Company (the “Trust”), issued $ 11.0 million in aggregate principal amount of floating rate preferred capital securities due November 23, 2034 (the “Capital Securities”) and $ 0.3 million of common securities (the “Common Securities”). The Capital Securities represent preferred undivided interests in the assets of the Trust. Under the Federal Reserve Board’s current risk-based capital guidelines, the Capital Securities are includable in the Company’s Tier 1 (Core) capital. The Common Securities are wholly-owned by the Company and are the only class of the Trust’s securities possessing general voting powers. |
Common Equity And Earnings Per
Common Equity And Earnings Per Share Data | 9 Months Ended |
Sep. 30, 2020 | |
Common Equity And Earnings Per Share Data [Abstract] | |
Common Equity And Earnings Per Share Data | 7. 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 , 2020, the Company had an average of 18,955 and 35,564 dilutive shares outstanding, respectively. The Company had an average of 57,899 and 68,660 dilutive shares outstanding for the three and nine month periods ended September 30, 2019. 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 , 2020, there was an average of 150,783 and 81,770 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, 2019, there was an average of 82,642 and 85,579 potentially anti-dilutive shares outstanding. |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2020 | |
Other Comprehensive Income [Abstract] | |
Other Comprehensive Income | 8. OTHER COMPREHENSIVE INCOME The following tables summarize the changes in the components of accumulated other comprehensive income during the three and nine month periods ended September 30 , 2020 and 2019: Balance at June 30, 2020 Net Change Balance at September 30, 2020 (in thousands) Net unrealized gain (loss) on investment securities $ 3,545 $ ( 833 ) $ 2,712 Net defined benefit pension plan adjustments ( 2,928 ) 90 ( 2,838 ) Total $ 617 $ ( 743 ) $ ( 126 ) 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 December 31, 2019 Net Change Balance at September 30, 2020 (in thousands) Net unrealized gain on investment securities $ 522 $ 2,190 $ 2,712 Net defined benefit pension plan adjustments ( 3,105 ) 267 ( 2,838 ) Total $ ( 2,583 ) $ 2,457 $ ( 126 ) 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 ) Three months ended September 30, 2020 Three months ended September 30, 2019 (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 (loss) gain on investment securities: Unrealized (loss) gain on investment securities $ ( 455 ) $ 116 $ ( 339 ) $ 705 $ ( 182 ) $ 523 Reclassification from accumulated other comprehensive income for gain on sale of securities ( 667 ) 173 ( 494 ) - - - Net change ( 1,122 ) 289 ( 833 ) 705 ( 182 ) 523 Defined benefit pension plan adjustments: Amortization of prior service cost 7 ( 1 ) 6 7 ( 1 ) 6 Amortization of actuarial loss 113 ( 29 ) 84 82 ( 20 ) 62 Net change 120 ( 30 ) 90 89 ( 21 ) 68 Other comprehensive (loss) income $ ( 1,002 ) $ 259 $ ( 743 ) $ 794 $ ( 203 ) $ 591 Nine months ended September 30, 2020 Nine months ended September 30, 2019 (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 $ 3,623 $ ( 939 ) $ 2,684 $ 4,493 $ ( 1,165 ) $ 3,328 Reclassification from accumulated other comprehensive income for gain on sale of securities ( 667 ) 173 ( 494 ) ( 42 ) 11 ( 31 ) Net change 2,956 ( 766 ) 2,190 4,451 ( 1,154 ) 3,297 Defined benefit pension plan adjustments: Amortization of prior service cost 23 ( 6 ) 17 23 ( 6 ) 17 Amortization of actuarial loss 339 ( 89 ) 250 248 ( 63 ) 185 Net change 362 ( 95 ) 267 271 ( 69 ) 202 Other comprehensive income $ 3,318 $ ( 861 ) $ 2,457 $ 4,722 $ ( 1,223 ) $ 3,499 |
Net Periodic Benefit Costs
Net Periodic Benefit Costs | 9 Months Ended |
Sep. 30, 2020 | |
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 , 2020 and 2019: Three months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2020 2019 2020 2019 Service cost $ - $ - $ 38 $ 37 Interest cost 50 55 38 51 Expected return on plan assets ( 81 ) ( 70 ) - - Amortization of prior service cost - - 7 7 Amortization of the net loss 25 24 88 58 Net periodic (benefit) cost $ ( 6 ) $ 9 $ 171 $ 153 Nine months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2020 2019 2020 2019 Service cost $ - $ - $ 116 $ 109 Interest cost 151 165 114 151 Expected return on plan assets ( 244 ) ( 208 ) - - Amortization of prior service cost - - 23 23 Amortization of the net loss 76 72 263 176 Net periodic (benefit) cost $ ( 17 ) $ 29 $ 516 $ 459 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, 2020 | |
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 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 months ended September 30, 2020 and 2019 is provided in the tables below: Three months ended September 30, 2020 2019 (in thousands) Commercial property and casualty insurance commissions $ 1,439 $ 1,382 Personal property and casualty insurance commissions 890 863 Employee benefits sales commissions 245 287 Profit sharing and contingent revenue 375 430 Wealth management and other financial services 164 142 Insurance claims services revenue 84 96 Other insurance-related revenue 20 25 Total insurance service and other fees $ 3,217 $ 3,225 Nine months ended September 30, 2020 2019 (in thousands) Commercial property and casualty insurance commissions $ 3,261 $ 3,267 Personal property and casualty insurance commissions 2,611 2,618 Employee benefits sales commissions 993 869 Profit sharing and contingent revenue 733 939 Wealth management and other financial services 407 405 Insurance claims services revenue 201 397 Other insurance-related revenue 103 73 Total insurance service and other fees $ 8,309 $ 8,568 |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Measurement [Abstract] | |
Fair Value Measurement | 11. 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, 2020 and December 31, 2019, respectively: (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2020 Securities available-for-sale: US government agencies $ - $ 62,279 $ - $ 62,279 States and political subdivisions - 7,545 - 7,545 Mortgage-backed securities - 85,937 - 85,937 Mortgage servicing rights - - 1,007 1,007 December 31, 2019 Securities available-for-sale: US government agencies $ - $ 28,155 $ - $ 28,155 States and political subdivisions - 3,351 - 3,351 Mortgage-backed securities - 96,416 - 96,416 Mortgage servicing rights - - 555 555 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. 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 data. 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. 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) 2020 2019 Mortgage servicing rights - July 1 $ 1,031 $ 570 Losses included in earnings ( 89 ) ( 71 ) Additions from loan sales & acquisition 65 28 Mortgage servicing rights - September 30 $ 1,007 $ 527 Nine months ended September 30, (in thousands) 2020 2019 Mortgage servicing rights - January 1 $ 555 $ 609 Losses included in earnings ( 289 ) ( 154 ) Additions from loan sales & acquisition 741 72 Mortgage servicing rights - September 30 $ 1,007 $ 527 Quantitative information about the significant unobservable inputs used in the fair value measurement of MSRs at the respective dates is as follows: September 30, 2020 December 31, 2019 Servicing fees 0.25 % 0.25 % Discount rate 9.04 % 9.00 % Prepayment rate (CPR) 9.59 % 8.21 % 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 September 30, 2020 and December 31, 2019: (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2020 Collateral dependent impaired loans $ - $ - $ 21,153 $ 21,153 December 31, 2019 Collateral dependent impaired loans $ - $ - $ 15,735 $ 15,735 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 day s 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 recorded investment of $ 22.3 million, with an allowance for loan loss of $ 1.1 million, at September 30, 2020 compared with $ 16.0 million and $ 0.3 million, respectively, at December 31, 2019. 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, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 103,635 $ 103,635 $ 38,857 $ 38,857 Level 2: Available for sale securities 155,761 155,761 127,922 127,922 FHLB and FRB stock 5,914 N/A 3,544 N/A Level 3: Held to maturity securities 4,996 5,084 2,386 2,392 Loans, net 1,682,475 1,757,480 1,211,356 1,222,386 Mortgage servicing rights 1,007 1,007 555 555 Financial liabilities: Level 1: Demand deposits $ 442,536 $ 442,536 $ 263,717 $ 263,717 NOW deposits 215,492 215,492 140,654 140,654 Savings deposits 799,739 799,739 587,142 587,142 Level 2: Securities sold under agreement to repurchase 4,414 4,414 2,425 2,425 Other borrowed funds 47,583 48,336 10,000 9,997 Junior subordinated debentures 30,912 30,912 11,330 11,330 Level 3: Time deposits 323,211 325,266 275,927 277,051 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2020 | |
Segment Information [Abstract] | |
Segment Information | 12. 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 , 2020 and 2019. Three months ended September 30, 2020 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 15,644 $ ( 2 ) $ 15,642 Provision for loan losses 1,881 - 1,881 Net interest income (expense) after provision for loan losses 13,763 ( 2 ) 13,761 Insurance service and fees 162 3,055 3,217 Other non-interest income 2,636 4 2,640 Amortization expense 6 130 136 Other non-interest expense 12,372 1,960 14,332 Income before income taxes 4,183 967 5,150 Income tax provision 354 252 606 Net income $ 3,829 $ 715 $ 4,544 Three months ended September 30, 2019 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 13,652 $ ( 31 ) $ 13,621 Provision for loan losses ( 431 ) - ( 431 ) Net interest income (expense) after provision for loan losses 14,083 ( 31 ) 14,052 Insurance service and fees 130 3,095 3,225 Other non-interest income 1,777 162 1,939 Amortization expense - 112 112 Other 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 Nine months ended September 30, 2020 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 43,359 $ ( 8 ) $ 43,351 Provision for loan losses 5,477 - 5,477 Net interest income (expense) after provision for loan losses 37,882 ( 8 ) 37,874 Insurance service and fees 395 7,914 8,309 Other non-interest income 5,121 4 5,125 Amortization expense 11 389 400 Other non-interest expense 38,917 6,033 44,950 Income before income taxes 4,470 1,488 5,958 Income tax provision 354 387 741 Net income $ 4,116 $ 1,101 $ 5,217 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 Insurance service and fees 377 8,191 8,568 Other non-interest income 5,359 162 5,521 Amortization expense - 336 336 Other 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 |
Contingent Liabilities And Comm
Contingent Liabilities And Commitments | 9 Months Ended |
Sep. 30, 2020 | |
Contingent Liabilities And Commitments [Abstract] | |
Contingent Liabilities And Commitments | 13. 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, 2020 2019 (in thousands) Commitments to extend credit $ 357,561 $ 331,974 Standby letters of credit 3,641 4,309 Total $ 361,202 $ 336,283 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 no t incur any losses on its commitments and did no t record a reserve for its commitments during the first nine months of 2020 or during 2019. 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. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2020 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 14. RECENT ACCOUNTING PRONOUNCEMENTS ASUs adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. The following standard will be adopted in a future period. 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 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. Upon adoption, the Company would be required to recognize an allowance for credit losses on the FSB acquired portfolio, which has a balance of $ 249 million as of September 30, 2020. The amendments in CECL are effective for smaller reporting companies for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The Company intends to early adopt CECL effective January 1, 2022. |
Organization And Summary Of S_2
Organization And Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2020 | |
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 Financial Accounting Standards Board (“FASB”) establishes changes to 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 adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. The results of operations for the nine month period ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus ("COVID-19") a global pandemic, and recommended containment and mitigation measures worldwide. Federal and state governments have taken unprecedented actions to contain the spread of the disease, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief to businesses and individuals impacted by the pandemic. Although in various locations certain activity restrictions have been relaxed with some level of success, in many states and localities the number of individuals diagnosed with COVID-19 has increased significantly, which is causing a freezing or, in certain cases, a reversal of previously announced relaxation of activity restrictions and is prompting the need for additional aid and other forms of relief. Management is currently unable to determine the extent of the potential impacts to the Company’s financial condition or results of operations. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act was passed by Congress on March 27, 2020. In keeping with regulatory guidance to work with borrowers during this unprecedented situation and as outlined in the CARES Act, the Company has worked with customers directly affected by COVID-19 and offered short-term assistance in accordance with regulatory guidelines. Commercial borrowers needing assistance have been offered a 90-day principal and interest deferral. Commercial borrowers that originally requested a 90-day deferral can request an additional 90-day deferral by providing their financial information, including current year interim financial information and projections to show a need for the additional 90-day deferral. Consumers needing assistance have been offered a 90-day principal and interest deferral with an option to request an additional 90-day deferral. As of October 20, 2020, total deferrals amounted to $ 8 million compared with $ 407 million at June 30, 2020. While interest and fees will still accrue to income, should credit losses on these deferred payments emerge, interest income and fees accrued would need to be reversed. In such a scenario, interest income in future periods could be negatively impacted. The Company recognizes the breadth of the economic impact may affect its borrowers’ ability to repay in future periods. We continue to actively monitor developments related to COVID-19 and its impact to our business, customers, employees, counterparties, vendors, and service providers. During the third quarter of 2020, the Company identified a well-defined weakness in the hotel industry resulting in downgrades of the credit risk ratings for a majority of the loans to clients within that industry. As of September 30, 2020, the Company’s hotel loan portfolio was $ 81 million, or approximately 6.5 %, of total commercial loans. During the first nine months of 2020, the most notable financial impacts to our results of operations was a higher provision for loan losses primarily reflecting the substantial increase in economic uncertainty and the resultant potential for increased credit losses in future periods as a consequence of the COVID-19 pandemic. 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, 2019 (“10-K”). There have been no significant changes to the Company’s significant accounting policies as disclosed in Note 1 to the 10-K, as supplemented by the disclosure in footnote 1 to the Consolidated Financial Statements in Part I of the Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. |
Revenue Recognition Of Non-In_2
Revenue Recognition Of Non-Interest Income (Policy) | 9 Months Ended |
Sep. 30, 2020 | |
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 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. |
Acquisitions (Tables)
Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Acquisitions [Abstract] | |
Schedule Of Assets Acquired And Liabilities Assumed | As Recorded Fair Value As Recorded by FSB Adjustments at Acquisition (in thousands) Cash and due from banks $ 1,978 $ - $ 1,978 Interest-bearing deposit at banks 9,339 - 9,339 Securities 21,371 106 (a) 21,477 FHLB Stock 2,614 - 2,614 Loans receivable 273,869 ( 2,484 ) (b) 271,385 Allowance for loan losses ( 1,706 ) 1,706 (c) - Premises and equipment 2,303 ( 56 ) (d) 2,247 Intangible assets - 166 (e) 166 Bank owned life insurance 3,891 - 3,891 Operating lease right-of-use asset 2,020 374 (f) 2,394 Other assets 6,033 1,640 (g) 7,673 Total assets acquired $ 321,712 $ 1,452 $ 323,164 Deposits 237,688 1,485 (h) 239,173 Other borrowed funds 50,597 1,929 (i) 52,526 Operating lease liability 2,217 176 (j) 2,393 Other liabilities 2,557 ( 573 ) (k) 1,984 Total liabilities assumed $ 293,059 $ 3,017 $ 296,076 Net assets acquired 27,088 Purchase price 28,856 Goodwill recorded in merger $ 1,768 Explanation of certain fair value related adjustments: (a) Represents the fair value adjustments on investment securities. (b) Represents the fair value adjustments on the net book value of loans, which includes an interest rate mark and credit mark adjustment and the write-off of deferred fees/costs and premiums. (c) Represents the elimination of FSB’s allowance for loan losses. (d) Represents the fair value adjustments to reflect the fair value of land and buildings and premises and equipment, which will be amortized on a straight-line basis over the estimated useful lives of the individual assets. (e) Represents the intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base. (f) Represents the fair value adjustments on operating lease right of use assets. (g) Represents an adjustment to other assets acquired. The largest adjustment was to net deferred tax assets resulting from the fair value adjustments related to the acquired assets, liabilities assumed and identifiable intangible assets recorded. (h) Represents fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits. (i) Represents the fair value adjustments on FHLB borrowings, which will be treated as a decrease to interest expense over the life of the borrowings. (j) Represents the fair value adjustments on operating lease liabilities. (k) Represents an adjustment to other liabilities assumed. |
Schedule Of Selected Pro Forma Financial Information | Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (in thousands) Net Interest Income $ 13,250 $ 15,779 $ 40,014 $ 46,185 Non-Interest Income 5,857 5,718 14,023 15,441 Non-Interest Expense 13,944 14,764 42,905 43,026 Net Income 4,554 5,355 9,046 14,416 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Securities [Abstract] | |
Schedule Of Amortized Cost And Approximate Fair Value Of Securities | September 30, 2020 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 61,631 $ 776 $ ( 128 ) $ 62,279 States and political subdivisions 7,375 175 ( 5 ) 7,545 Total debt securities 69,006 951 ( 133 ) 69,824 Mortgage-backed securities: FNMA 24,305 750 ( 18 ) 25,037 FHLMC 4,066 120 - 4,186 GNMA 2,305 46 ( 1 ) 2,350 SBA 21,259 977 ( 34 ) 22,202 CMO 31,159 1,003 - 32,162 Total mortgage-backed securities 83,094 2,896 ( 53 ) 85,937 Total securities designated as available for sale $ 152,100 $ 3,847 $ ( 186 ) $ 155,761 Held to Maturity: Debt securities States and political subdivisions $ 4,996 $ 88 $ - $ 5,084 z Total securities designated as held to maturity $ 4,996 $ 88 $ - $ 5,084 December 31, 2019 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 27,951 $ 225 $ ( 21 ) $ 28,155 States and political subdivisions 3,289 69 ( 7 ) 3,351 Total debt securities 31,240 294 ( 28 ) 31,506 Mortgage-backed securities: FNMA 34,395 330 ( 53 ) 34,672 FHLMC 15,390 137 ( 13 ) 15,514 GNMA 3,421 16 ( 24 ) 3,413 SBA 13,752 90 ( 70 ) 13,772 CMO 29,019 190 ( 164 ) 29,045 Total mortgage-backed securities 95,977 763 ( 324 ) 96,416 Total securities designated as available for sale $ 127,217 $ 1,057 $ ( 352 ) $ 127,922 Held to Maturity: Debt securities States and political subdivisions $ 2,386 $ 24 $ ( 18 ) $ 2,392 Total securities designated as held to maturity $ 2,386 $ 24 $ ( 18 ) $ 2,392 |
Scheduled Maturities Of Debt And Mortgage-Backed Securities | September 30, 2020 December 31, 2019 Amortized Estimated Amortized Estimated cost fair value cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 3,790 $ 3,802 $ 6,005 $ 6,014 Due after one year through five years 7,768 7,971 6,481 6,626 Due after five years through ten years 23,959 24,658 18,754 18,866 Due after ten years 33,489 33,393 - - 69,006 69,824 31,240 31,506 Mortgage-backed securities available for sale 83,094 85,937 95,977 96,416 Total $ 152,100 $ 155,761 $ 127,217 $ 127,922 Debt securities held to maturity: Due in one year or less $ 3,944 $ 3,949 $ 1,139 $ 1,140 Due after one year through five years 564 597 712 732 Due after five years through ten years 45 48 54 54 Due after ten years 443 490 481 466 Total $ 4,996 $ 5,084 $ 2,386 $ 2,392 |
Unrealized Losses On Securities | September 30, 2020 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 $ 27,432 $ ( 128 ) $ - $ - $ 27,432 $ ( 128 ) States and political subdivisions - - 181 ( 5 ) 181 ( 5 ) Total debt securities 27,432 ( 128 ) 181 ( 5 ) 27,613 ( 133 ) Mortgage-backed securities: FNMA 238 ( 1 ) 1,396 ( 17 ) 1,634 ( 18 ) FHLMC 90 - - - 90 - GNMA 156 ( 1 ) - - 156 ( 1 ) SBA - - 1,406 ( 34 ) 1,406 ( 34 ) CMO - - - - - - Total mortgage-backed securities 484 ( 2 ) 2,802 ( 51 ) 3,286 ( 53 ) Held to Maturity: Debt securities: States and political subdivisions - - - - - - Total temporarily impaired securities $ 27,916 $ ( 130 ) $ 2,983 $ ( 56 ) $ 30,899 $ ( 186 ) December 31, 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 $ 1,976 $ ( 18 ) $ 3,997 $ ( 3 ) $ 5,973 $ ( 21 ) States and political subdivisions - - 181 ( 7 ) 181 ( 7 ) Total debt securities 1,976 ( 18 ) 4,178 ( 10 ) 6,154 ( 28 ) Mortgage-backed securities: FNMA 5,355 ( 38 ) 3,630 ( 15 ) 8,985 ( 53 ) FHLMC - - 1,242 ( 13 ) 1,242 ( 13 ) GNMA 2,091 ( 22 ) 770 ( 2 ) 2,861 ( 24 ) SBA 5,171 ( 70 ) - - 5,171 ( 70 ) CMO 5,706 ( 36 ) 8,911 ( 128 ) 14,617 ( 164 ) Total mortgage-backed securities 18,323 ( 166 ) 14,553 ( 158 ) 32,876 ( 324 ) Held to Maturity: Debt securities: States and political subdivisions 227 ( 1 ) 2,165 ( 17 ) 2,392 ( 18 ) Total temporarily impaired securities $ 20,526 $ ( 185 ) $ 20,896 $ ( 185 ) $ 41,422 $ ( 370 ) |
Loans And The Allowance For L_2
Loans And The Allowance For Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Schedule Of Loan Portfolio Composition | September 30, 2020 December 31, 2019 Mortgage loans on real estate: (in thousands) Residential mortgages $ 364,598 $ 158,572 Commercial and multi-family 702,624 645,036 Construction-Residential 6,761 1,067 Construction-Commercial 102,011 97,848 Home equities 84,863 69,351 Total real estate loans 1,260,857 971,874 Commercial and industrial loans 448,092 251,197 Consumer and other loans 412 1,926 Unaccreted yield adjustments* ( 6,285 ) 1,534 Total gross loans 1,703,076 1,226,531 Allowance for loan losses ( 20,601 ) ( 15,175 ) Loans, net $ 1,682,475 $ 1,211,356 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $ 5.8 million of PPP fees at September 30, 2020. |
Data, At Class Level, Of Credit Quality Indicators Of Certain Loans | September 30, 2020 (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 $ 52,162 $ 314,997 $ 367,159 $ 339,810 Watch 21,322 303,965 325,287 87,414 Special Mention 2,088 13,985 16,073 5,855 Substandard 26,439 69,677 96,116 15,013 Doubtful/Loss - - - - Total $ 102,011 $ 702,624 $ 804,635 $ 448,092 December 31, 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 $ 73,646 $ 451,297 $ 524,943 $ 165,255 Watch 13,380 171,277 184,657 68,665 Special Mention 8,359 15,725 24,084 7,631 Substandard 2,463 6,737 9,200 9,646 Doubtful/Loss - - - - Total $ 97,848 $ 645,036 $ 742,884 $ 251,197 |
Recorded Investment In Loans Past Due | September 30, 2020 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 440,340 $ 575 $ 227 $ - $ 6,950 $ 448,092 Residential real estate: Residential 360,418 58 1,266 - 2,856 364,598 Construction 6,038 - 723 - - 6,761 Commercial real estate: Commercial 687,280 - 6,053 594 8,697 702,624 Construction 100,555 - 150 - 1,306 102,011 Home equities 82,864 929 11 - 1,059 84,863 Consumer and other 398 3 7 4 - 412 Total Loans $ 1,677,893 $ 1,565 $ 8,437 $ 598 $ 20,868 $ 1,709,361 Note: Loan balances do not include $( 6.3 ) million of unaccreted yield adjustments as of September 30, 2020. December 31, 2019 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 245,658 $ 705 $ - $ - $ 4,834 $ 251,197 Residential real estate: Residential 153,630 2,616 888 - 1,438 158,572 Construction 865 - 202 - - 1,067 Commercial real estate: Commercial 630,016 3,482 5,879 - 5,659 645,036 Construction 92,667 2,886 720 - 1,575 97,848 Home equities 67,868 354 239 - 890 69,351 Consumer and other 1,907 15 4 - - 1,926 Total Loans $ 1,192,611 $ 10,058 $ 7,932 $ - $ 14,396 $ 1,224,997 Note: Loan balances do not include $ 1.5 m illion of unamortized yield adjustments as of December 31, 2019. |
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 three month periods ended September 30, 2020 and 2019. September 30, 2020 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 5,260 $ 11,625 $ 233 $ 1,147 489 $ 18,754 Charge-offs ( 124 ) ( 5 ) ( 14 ) - - ( 143 ) Recoveries 105 - 4 - - 109 Provision (Credit) ( 23 ) 1,843 ( 187 ) 218 30 1,881 Ending balance $ 5,218 $ 13,463 $ 36 $ 1,365 $ 519 $ 20,601 September 30, 2019 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) 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 * Includes construction loans The following tables present the activity in the allowance for loan losses according to portfolio segment for the nine month periods ended September 30, 2020 and 2019: Nine months ended September 30, 2020 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,547 $ 9,005 $ 155 $ 1,071 $ 397 $ 15,175 Charge-offs ( 143 ) ( 5 ) ( 44 ) ( 29 ) ( 4 ) ( 225 ) Recoveries 141 11 22 - - 174 Provision (Credit) 673 4,452 ( 97 ) 323 126 5,477 Ending balance $ 5,218 $ 13,463 $ 36 $ 1,365 $ 519 $ 20,601 * Includes construction loans Note: Loan balances do not include $( 6.3 ) million of unaccreted yield adjustments as of September 30, 2020. Nine months ended 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 * Includes construction loans Note: Loan balances do not include $ 1.6 million of unamortized yield adjustments as of September 30, 2019. The following table presents the allocation of the allowance for loan losses according to portfolio segment summarized on the basis of the Company’s impairment methodology as of September 30, 2020 and December 31, 2020: September 30, 2020 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment 1,103 154 - - - 1,257 Collectively evaluated for impairment 4,115 13,309 36 1,365 519 19,344 Total $ 5,218 $ 13,463 $ 36 $ 1,365 $ 519 $ 20,601 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 870 $ - $ 870 Individually evaluated for impairment 7,160 10,502 - 3,138 1,492 22,292 Collectively evaluated for impairment 440,932 794,133 412 367,351 83,371 1,686,199 Total $ 448,092 $ 804,635 $ 412 $ 371,359 $ 84,863 $ 1,709,361 * Includes construction loans December 31, 2019 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 442 $ 9 $ 21 $ 5 $ - $ 477 Collectively evaluated for impairment 4,105 8,996 134 1,066 397 14,698 Total $ 4,547 $ 9,005 $ 155 $ 1,071 $ 397 $ 15,175 Loans: Ending balance: Individually evaluated for impairment $ 6,558 $ 7,791 $ 21 $ 2,804 $ 1,453 $ 18,627 Collectively evaluated for impairment 244,639 735,093 1,905 156,835 67,898 1,206,370 Total $ 251,197 $ 742,884 $ 1,926 $ 159,639 $ 69,351 $ 1,224,997 * Includes construction loans |
Data, At Class Level, Of Impaired Loans | At September 30, 2020 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 $ 2,358 $ 2,580 $ - $ 2,624 $ 79 $ 29 Residential real estate: Residential 3,954 4,314 - 4,018 76 49 Construction - - - - - - Commercial real estate: Commercial 5,824 6,398 - 6,056 180 36 Construction 1,306 1,352 - 1,326 26 - Home equities 1,492 1,714 - 1,565 41 16 Consumer and other - - - - - - Total impaired loans $ 14,934 $ 16,358 $ - $ 15,589 $ 402 $ 130 At September 30, 2020 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 $ 4,802 $ 4,942 $ 1,103 $ 4,941 $ 189 $ 15 Residential real estate: Residential - - - - - - Construction - - - - - - Commercial real estate: Commercial 3,372 3,396 154 3,378 101 10 Construction - - - - - - Home equities - - - - - - Consumer and other - - - - - - Total impaired loans $ 8,174 $ 8,338 $ 1,257 $ 8,319 $ 290 $ 25 At September 30, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 7,160 $ 7,522 $ 1,103 $ 7,565 $ 268 $ 44 Residential real estate: Residential 3,954 4,314 - 4,018 76 49 Construction - - - - - - Commercial real estate: Commercial 9,196 9,794 154 9,434 281 46 Construction 1,306 1,352 - 1,326 26 - Home equities 1,492 1,714 - 1,565 41 16 Consumer and other - - - - - - Total impaired loans $ 23,108 $ 24,696 $ 1,257 $ 23,908 $ 692 $ 155 At December 31, 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 $ 3,798 $ 4,112 $ - $ 4,046 $ 118 $ 143 Residential real estate: Residential 2,744 3,003 - 2,823 73 63 Construction - - - - - - Commercial real estate: Commercial 6,019 6,521 - 6,293 225 72 Construction 1,335 1,352 - 1,344 23 50 Home equities 1,453 1,687 - 1,525 64 30 Consumer and other - - - - - - Total impaired loans $ 15,349 $ 16,675 $ - $ 16,031 $ 503 $ 358 At December 31, 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 $ 2,760 $ 2,808 $ 442 $ 2,764 $ 109 $ 63 Residential real estate: Residential 60 62 5 61 3 1 Construction - - - - - - Commercial real estate: Commercial 197 197 4 197 8 4 Construction 240 246 5 242 8 9 Home equities - - - - - - Consumer and other 21 23 21 22 - 1 Total impaired loans $ 3,278 $ 3,336 $ 477 $ 3,286 $ 128 $ 78 At December 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 6,558 $ 6,920 $ 442 $ 6,810 $ 227 $ 206 Residential real estate: Residential 2,804 3,065 5 2,884 76 64 Construction - - - - - - Commercial real estate: Commercial 6,216 6,718 4 6,490 233 76 Construction 1,575 1,598 5 1,586 31 59 Home equities 1,453 1,687 - 1,525 64 30 Consumer and other 21 23 21 22 - 1 Total impaired loans $ 18,627 $ 20,011 $ 477 $ 19,317 $ 631 $ 436 |
Loans Classified As Troubled Debt Restructurings | September 30, 2020 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,828 $ 1,618 $ 210 $ 360 Residential real estate: Residential 1,741 589 1,152 - Construction - - - - Commercial real estate: Commercial and multi-family 3,463 2,965 498 - Construction - - - - Home equities 562 129 433 - Consumer and other - - - - Total TDR loans $ 7,594 $ 5,301 $ 2,293 $ 360 December 31, 2019 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 2,052 $ 328 $ 1,724 $ 26 Residential real estate: Residential 1,815 449 1,366 - Construction - - - - Commercial real estate: Commercial and multi-family 3,632 3,075 557 - Construction - - - - Home equities 738 175 563 - Consumer and other 21 - 21 21 Total TDR loans $ 8,258 $ 4,027 $ 4,231 $ 47 |
TDR Activity By Type Of Concession Granted To Borrower | Three months ended September 30, 2020 Three months ended September 30, 2019 (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 Term-out line of credit - - - 1 42 42 Residential Real Estate & Construction: Extension of maturity and interest rate reduction 1 97 97 3 307 307 Commercial Real Estate & Construction - - - - - - Home Equities: Extension of maturity and interest rate reduction - - - 1 110 110 Consumer and other loans - - - - - - Other - - - - - - Nine months ended September 30, 2020 Nine months ended September 30, 2019 (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 Term-out line of credit - - - 1 42 42 Residential Real Estate & Construction: Combination of concessions 1 56 56 - - - Extension of maturity and interest rate reduction 1 97 97 3 307 307 Commercial Real Estate & Construction - - - - - - Home Equities: Extension of maturity and interest rate reduction - - - 3 390 390 Consumer and other loans - - - - - - |
Goodwill (Tables)
Goodwill (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Goodwill [Abstract] | |
Schedule Of Goodwill And Intangible Assets | Goodwill Core Deposit Intangibles Other Intangibles (in thousands) Balance at June 30, 2020 $ 12,715 $ 162 $ 2,345 Amortization - ( 7 ) ( 130 ) Balance at September 30, 2020 $ 12,715 $ 155 $ 2,215 Balance at June 30, 2019 $ 10,520 $ - $ 2,248 Amortization - - ( 111 ) Balance at September 30, 2019 $ 10,520 $ - $ 2,137 Goodwill Core Deposit Intangibles Other Intangibles (in thousands) Balance at December 31, 2019 $ 10,520 $ - $ 2,025 Acquisition of Benefit Brokers of WNY, LLC 427 - 580 Acquisition of FSB 1,768 166 - Amortization - ( 11 ) ( 390 ) Balance at September 30, 2020 $ 12,715 $ 155 $ 2,215 Balance at December 31, 2018 $ 10,520 $ - $ 2,472 Amortization - - ( 335 ) Balance at September 30, 2019 $ 10,520 $ - $ 2,137 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Other Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | Balance at June 30, 2020 Net Change Balance at September 30, 2020 (in thousands) Net unrealized gain (loss) on investment securities $ 3,545 $ ( 833 ) $ 2,712 Net defined benefit pension plan adjustments ( 2,928 ) 90 ( 2,838 ) Total $ 617 $ ( 743 ) $ ( 126 ) 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 December 31, 2019 Net Change Balance at September 30, 2020 (in thousands) Net unrealized gain on investment securities $ 522 $ 2,190 $ 2,712 Net defined benefit pension plan adjustments ( 3,105 ) 267 ( 2,838 ) Total $ ( 2,583 ) $ 2,457 $ ( 126 ) 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 ) |
Components Of Other Comprehensive Income | Three months ended September 30, 2020 Three months ended September 30, 2019 (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 (loss) gain on investment securities: Unrealized (loss) gain on investment securities $ ( 455 ) $ 116 $ ( 339 ) $ 705 $ ( 182 ) $ 523 Reclassification from accumulated other comprehensive income for gain on sale of securities ( 667 ) 173 ( 494 ) - - - Net change ( 1,122 ) 289 ( 833 ) 705 ( 182 ) 523 Defined benefit pension plan adjustments: Amortization of prior service cost 7 ( 1 ) 6 7 ( 1 ) 6 Amortization of actuarial loss 113 ( 29 ) 84 82 ( 20 ) 62 Net change 120 ( 30 ) 90 89 ( 21 ) 68 Other comprehensive (loss) income $ ( 1,002 ) $ 259 $ ( 743 ) $ 794 $ ( 203 ) $ 591 Nine months ended September 30, 2020 Nine months ended September 30, 2019 (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 $ 3,623 $ ( 939 ) $ 2,684 $ 4,493 $ ( 1,165 ) $ 3,328 Reclassification from accumulated other comprehensive income for gain on sale of securities ( 667 ) 173 ( 494 ) ( 42 ) 11 ( 31 ) Net change 2,956 ( 766 ) 2,190 4,451 ( 1,154 ) 3,297 Defined benefit pension plan adjustments: Amortization of prior service cost 23 ( 6 ) 17 23 ( 6 ) 17 Amortization of actuarial loss 339 ( 89 ) 250 248 ( 63 ) 185 Net change 362 ( 95 ) 267 271 ( 69 ) 202 Other comprehensive income $ 3,318 $ ( 861 ) $ 2,457 $ 4,722 $ ( 1,223 ) $ 3,499 |
Net Periodic Benefit Costs (Tab
Net Periodic Benefit Costs (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Net Periodic Benefit Costs [Abstract] | |
Schedule Of Net Periodic Benefit Cost | Three months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2020 2019 2020 2019 Service cost $ - $ - $ 38 $ 37 Interest cost 50 55 38 51 Expected return on plan assets ( 81 ) ( 70 ) - - Amortization of prior service cost - - 7 7 Amortization of the net loss 25 24 88 58 Net periodic (benefit) cost $ ( 6 ) $ 9 $ 171 $ 153 Nine months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2020 2019 2020 2019 Service cost $ - $ - $ 116 $ 109 Interest cost 151 165 114 151 Expected return on plan assets ( 244 ) ( 208 ) - - Amortization of prior service cost - - 23 23 Amortization of the net loss 76 72 263 176 Net periodic (benefit) cost $ ( 17 ) $ 29 $ 516 $ 459 |
Revenue Recognition Of Non-In_3
Revenue Recognition Of Non-Interest Income (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Schedule Of Disaggregation Of Insurance Service And Other Fees | Three months ended September 30, 2020 2019 (in thousands) Commercial property and casualty insurance commissions $ 1,439 $ 1,382 Personal property and casualty insurance commissions 890 863 Employee benefits sales commissions 245 287 Profit sharing and contingent revenue 375 430 Wealth management and other financial services 164 142 Insurance claims services revenue 84 96 Other insurance-related revenue 20 25 Total insurance service and other fees $ 3,217 $ 3,225 Nine months ended September 30, 2020 2019 (in thousands) Commercial property and casualty insurance commissions $ 3,261 $ 3,267 Personal property and casualty insurance commissions 2,611 2,618 Employee benefits sales commissions 993 869 Profit sharing and contingent revenue 733 939 Wealth management and other financial services 407 405 Insurance claims services revenue 201 397 Other insurance-related revenue 103 73 Total insurance service and other fees $ 8,309 $ 8,568 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Financial Instruments Measured At Fair Value On Recurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2020 Securities available-for-sale: US government agencies $ - $ 62,279 $ - $ 62,279 States and political subdivisions - 7,545 - 7,545 Mortgage-backed securities - 85,937 - 85,937 Mortgage servicing rights - - 1,007 1,007 December 31, 2019 Securities available-for-sale: US government agencies $ - $ 28,155 $ - $ 28,155 States and political subdivisions - 3,351 - 3,351 Mortgage-backed securities - 96,416 - 96,416 Mortgage servicing rights - - 555 555 |
Quantitative Information About Significant Unobservable Inputs For MSRs | September 30, 2020 December 31, 2019 Servicing fees 0.25 % 0.25 % Discount rate 9.04 % 9.00 % Prepayment rate (CPR) 9.59 % 8.21 % |
Financial Instruments Measured At Fair Value On Nonrecurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2020 Collateral dependent impaired loans $ - $ - $ 21,153 $ 21,153 December 31, 2019 Collateral dependent impaired loans $ - $ - $ 15,735 $ 15,735 |
Estimated Fair Values Of Financial Instruments | September 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 103,635 $ 103,635 $ 38,857 $ 38,857 Level 2: Available for sale securities 155,761 155,761 127,922 127,922 FHLB and FRB stock 5,914 N/A 3,544 N/A Level 3: Held to maturity securities 4,996 5,084 2,386 2,392 Loans, net 1,682,475 1,757,480 1,211,356 1,222,386 Mortgage servicing rights 1,007 1,007 555 555 Financial liabilities: Level 1: Demand deposits $ 442,536 $ 442,536 $ 263,717 $ 263,717 NOW deposits 215,492 215,492 140,654 140,654 Savings deposits 799,739 799,739 587,142 587,142 Level 2: Securities sold under agreement to repurchase 4,414 4,414 2,425 2,425 Other borrowed funds 47,583 48,336 10,000 9,997 Junior subordinated debentures 30,912 30,912 11,330 11,330 Level 3: Time deposits 323,211 325,266 275,927 277,051 |
Mortgage Servicing Rights [Member] | |
Summary Of Changes In Fair Value At Level 3 | Three months ended September 30, (in thousands) 2020 2019 Mortgage servicing rights - July 1 $ 1,031 $ 570 Losses included in earnings ( 89 ) ( 71 ) Additions from loan sales & acquisition 65 28 Mortgage servicing rights - September 30 $ 1,007 $ 527 Nine months ended September 30, (in thousands) 2020 2019 Mortgage servicing rights - January 1 $ 555 $ 609 Losses included in earnings ( 289 ) ( 154 ) Additions from loan sales & acquisition 741 72 Mortgage servicing rights - September 30 $ 1,007 $ 527 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Segment Information [Abstract] | |
Schedule Of Business Segments | Three months ended September 30, 2020 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 15,644 $ ( 2 ) $ 15,642 Provision for loan losses 1,881 - 1,881 Net interest income (expense) after provision for loan losses 13,763 ( 2 ) 13,761 Insurance service and fees 162 3,055 3,217 Other non-interest income 2,636 4 2,640 Amortization expense 6 130 136 Other non-interest expense 12,372 1,960 14,332 Income before income taxes 4,183 967 5,150 Income tax provision 354 252 606 Net income $ 3,829 $ 715 $ 4,544 Three months ended September 30, 2019 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 13,652 $ ( 31 ) $ 13,621 Provision for loan losses ( 431 ) - ( 431 ) Net interest income (expense) after provision for loan losses 14,083 ( 31 ) 14,052 Insurance service and fees 130 3,095 3,225 Other non-interest income 1,777 162 1,939 Amortization expense - 112 112 Other 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 Nine months ended September 30, 2020 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 43,359 $ ( 8 ) $ 43,351 Provision for loan losses 5,477 - 5,477 Net interest income (expense) after provision for loan losses 37,882 ( 8 ) 37,874 Insurance service and fees 395 7,914 8,309 Other non-interest income 5,121 4 5,125 Amortization expense 11 389 400 Other non-interest expense 38,917 6,033 44,950 Income before income taxes 4,470 1,488 5,958 Income tax provision 354 387 741 Net income $ 4,116 $ 1,101 $ 5,217 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 Insurance service and fees 377 8,191 8,568 Other non-interest income 5,359 162 5,521 Amortization expense - 336 336 Other 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 |
Contingent Liabilities And Co_2
Contingent Liabilities And Commitments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Contingent Liabilities And Commitments [Abstract] | |
Summary Of Commitments And Contingent Liabilities | September 30, December 31, 2020 2019 (in thousands) Commitments to extend credit $ 357,561 $ 331,974 Standby letters of credit 3,641 4,309 Total $ 361,202 $ 336,283 |
Organization And Summary Of S_3
Organization And Summary Of Significant Accounting Policies (Narrative) (Details) $ in Millions | 9 Months Ended | ||
Sep. 30, 2020USD ($)entity | Oct. 20, 2020USD ($) | Jun. 30, 2020USD ($) | |
Number of subsidiaries | entity | 2 | ||
Deferrals amount | $ 407 | ||
Hotel loan portfolio | $ 81 | ||
Total percentage of hotel loan in total commercial loans | 6.50% | ||
Subsequent Event [Member] | |||
Deferrals amount | $ 8 |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) - USD ($) $ in Thousands | May 01, 2020 | Apr. 30, 2020 | Sep. 30, 2020 |
Business Acquisition [Line Items] | |||
Paid in cash | $ 6,490 | ||
Buildings [Member] | |||
Business Acquisition [Line Items] | |||
Estimated useful life | 39 years | ||
Improvements And Equipment [Member] | |||
Business Acquisition [Line Items] | |||
Estimated useful life | 10 years | ||
Core Deposit Intangibles [Member] | |||
Business Acquisition [Line Items] | |||
Estimated useful life | 10 years | ||
FSB [Member] | |||
Business Acquisition [Line Items] | |||
Paid in cash | $ 17,100 | ||
Fair value of shares issued | $ 11,700 | ||
Goodwill, Acquisition | $ 1,768 | ||
Merger-related expenses | 6,000 | ||
FSB [Member] | Core Deposit Intangibles [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets, Acquisition | $ 166 | ||
FSB [Member] | Evans Common Stock [Member] | |||
Business Acquisition [Line Items] | |||
Shares issued of common stock | 422,475 | ||
As Recorded By FSB [Member] | |||
Business Acquisition [Line Items] | |||
Total assets | $ 321,712 | ||
Net loans receivable | 273,869 | ||
Securities | 21,371 | ||
Total liabilities | 293,059 | ||
Deposits | 237,688 | ||
Borrowings | 50,597 | ||
As Recorded By FSB [Member] | FSB [Member] | |||
Business Acquisition [Line Items] | |||
Total assets | 321,700 | ||
Net loans receivable | 272,100 | ||
Securities | 21,400 | ||
Total liabilities | 293,100 | ||
Deposits | 237,700 | ||
Borrowings | 50,600 | ||
As Recorded At Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Total assets | 323,164 | ||
Net loans receivable | 271,385 | ||
Securities | 21,477 | ||
Total liabilities | 296,076 | ||
Deposits | 239,173 | ||
Borrowings | 52,526 | ||
As Recorded At Acquisition [Member] | FSB [Member] | |||
Business Acquisition [Line Items] | |||
Goodwill, Acquisition | 1,800 | ||
As Recorded At Acquisition [Member] | FSB [Member] | Core Deposit Intangibles [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets, Acquisition | $ 200 |
Acquisitions (Schedule Of Asset
Acquisitions (Schedule Of Assets Acquired And Liabilities Assumed) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | May 01, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||||||||
Operating lease right-of-use asset | $ 5,524 | $ 3,720 | ||||||
Operating lease liability | 5,940 | 4,154 | ||||||
Goodwill recorded in merger | $ 12,715 | $ 12,715 | $ 10,520 | $ 10,520 | $ 10,520 | $ 10,520 | ||
As Recorded By FSB [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash and due from banks | $ 1,978 | |||||||
Interest-bearing deposit at bank | 9,339 | |||||||
Securities | 21,371 | |||||||
FHLB Stock | 2,614 | |||||||
Loans receivable | 273,869 | |||||||
Allowance for loan losses | (1,706) | |||||||
Premises and equipment | 2,303 | |||||||
Bank owned life insurance | 3,891 | |||||||
Operating lease right-of-use asset | 2,020 | |||||||
Other assets | 6,033 | |||||||
Total assets acquired | 321,712 | |||||||
Deposits | 237,688 | |||||||
Other borrowed funds | 50,597 | |||||||
Operating lease liability | 2,217 | |||||||
Other liabilities | 2,557 | |||||||
Total liabilities assumed | 293,059 | |||||||
Fair Value Adjustments [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Securities | [1] | 106 | ||||||
Loans receivable | [2] | (2,484) | ||||||
Allowance for loan losses | [3] | 1,706 | ||||||
Premises and equipment | [4] | (56) | ||||||
Intangible assets | [5] | 166 | ||||||
Operating lease right-of-use asset | [6] | 374 | ||||||
Other assets | [7] | 1,640 | ||||||
Total assets acquired | 1,452 | |||||||
Deposits | [8] | 1,485 | ||||||
Other borrowed funds | [9] | 1,929 | ||||||
Operating lease liability | [10] | 176 | ||||||
Other liabilities | [11] | (573) | ||||||
Total liabilities assumed | 3,017 | |||||||
As Recorded At Acquisition [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash and due from banks | 1,978 | |||||||
Interest-bearing deposit at bank | 9,339 | |||||||
Securities | 21,477 | |||||||
FHLB Stock | 2,614 | |||||||
Loans receivable | 271,385 | |||||||
Premises and equipment | 2,247 | |||||||
Intangible assets | 166 | |||||||
Bank owned life insurance | 3,891 | |||||||
Operating lease right-of-use asset | 2,394 | |||||||
Other assets | 7,673 | |||||||
Total assets acquired | 323,164 | |||||||
Deposits | 239,173 | |||||||
Other borrowed funds | 52,526 | |||||||
Operating lease liability | 2,393 | |||||||
Other liabilities | 1,984 | |||||||
Total liabilities assumed | 296,076 | |||||||
Net assets acquired | 27,088 | |||||||
Purchase price | 28,856 | |||||||
Goodwill recorded in merger | $ 1,768 | |||||||
[1] | Represents the fair value adjustments on investment securities. | |||||||
[2] | Represents the fair value adjustments on the net book value of loans, which includes an interest rate mark and credit mark adjustment and the write-off of deferred fees/costs and premiums. | |||||||
[3] | Represents the elimination of FSB’s allowance for loan losses. | |||||||
[4] | Represents the fair value adjustments to reflect the fair value of land and buildings and premises and equipment, which will be amortized on a straight-line basis over the estimated useful lives of the individual assets. | |||||||
[5] | Represents the intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base. | |||||||
[6] | Represents the fair value adjustments on operating lease right of use assets. | |||||||
[7] | Represents an adjustment to other assets acquired. The largest adjustment was to net deferred tax assets resulting from the fair value adjustments related to the acquired assets, liabilities assumed and identifiable intangible assets recorded. | |||||||
[8] | Represents fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits. | |||||||
[9] | Represents the fair value adjustments on FHLB borrowings, which will be treated as a decrease to interest expense over the life of the borrowings. | |||||||
[10] | Represents the fair value adjustments on operating lease liabilities. | |||||||
[11] | Represents an adjustment to other liabilities assumed. |
Acquisitions (Schedule Of Selec
Acquisitions (Schedule Of Selected Pro Forma Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Business Acquisition [Line Items] | ||||
Net Interest Income | $ 17,766 | $ 16,845 | $ 50,658 | $ 48,712 |
Non-Interest Income | 5,857 | 5,164 | 13,434 | 14,089 |
Non-Interest Expense | 14,468 | 12,276 | 45,350 | 35,649 |
Net Income | 4,544 | 5,164 | 5,217 | 13,266 |
FSB [Member] | ||||
Business Acquisition [Line Items] | ||||
Net Interest Income | 13,250 | 15,779 | 40,014 | 46,185 |
Non-Interest Income | 5,857 | 5,718 | 14,023 | 15,441 |
Non-Interest Expense | 13,944 | 14,764 | 42,905 | 43,026 |
Net Income | $ 4,554 | $ 5,355 | $ 9,046 | $ 14,416 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Available for sale securities pledged as collateral | $ 128,000 | $ 128,000 | $ 102,000 | ||
Proceeds from sale of investment securities | $ 23,300 | ||||
Gross realized gains (losses) from sales of investment securities | $ 0 | $ 0 | |||
Gross realized gains from sales of investment securities | 700 | ||||
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 | 10 years |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Approximate Fair Value Of Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | $ 152,100 | $ 127,217 |
Available for Sale, Unrealized Gains | 3,847 | 1,057 |
Available for Sale, Unrealized Losses | (186) | (352) |
Available for Sale, Fair Value | 155,761 | 127,922 |
Held to maturity, Amortized cost | 4,996 | 2,386 |
Held to Maturity, Unrealized Gains | 88 | 24 |
Held to Maturity, Unrealized Losses | (18) | |
Held to Maturity, Fair Value | 5,084 | 2,392 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 69,006 | 31,240 |
Available for Sale, Unrealized Gains | 951 | 294 |
Available for Sale, Unrealized Losses | (133) | (28) |
Available for Sale, Fair Value | 69,824 | 31,506 |
US Government Agencies [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 61,631 | 27,951 |
Available for Sale, Unrealized Gains | 776 | 225 |
Available for Sale, Unrealized Losses | (128) | (21) |
Available for Sale, Fair Value | 62,279 | 28,155 |
Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 83,094 | 95,977 |
Available for Sale, Unrealized Gains | 2,896 | 763 |
Available for Sale, Unrealized Losses | (53) | (324) |
Available for Sale, Fair Value | 85,937 | 96,416 |
Mortgage Backed Securities [Member] | FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 24,305 | 34,395 |
Available for Sale, Unrealized Gains | 750 | 330 |
Available for Sale, Unrealized Losses | (18) | (53) |
Available for Sale, Fair Value | 25,037 | 34,672 |
Mortgage Backed Securities [Member] | FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 4,066 | 15,390 |
Available for Sale, Unrealized Gains | 120 | 137 |
Available for Sale, Unrealized Losses | (13) | |
Available for Sale, Fair Value | 4,186 | 15,514 |
Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 2,305 | 3,421 |
Available for Sale, Unrealized Gains | 46 | 16 |
Available for Sale, Unrealized Losses | (1) | (24) |
Available for Sale, Fair Value | 2,350 | 3,413 |
Mortgage Backed Securities [Member] | SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 21,259 | 13,752 |
Available for Sale, Unrealized Gains | 977 | 90 |
Available for Sale, Unrealized Losses | (34) | (70) |
Available for Sale, Fair Value | 22,202 | 13,772 |
Mortgage Backed Securities [Member] | CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 31,159 | 29,019 |
Available for Sale, Unrealized Gains | 1,003 | 190 |
Available for Sale, Unrealized Losses | (164) | |
Available for Sale, Fair Value | 32,162 | 29,045 |
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 | 7,375 | 3,289 |
Available for Sale, Unrealized Gains | 175 | 69 |
Available for Sale, Unrealized Losses | (5) | (7) |
Available for Sale, Fair Value | 7,545 | 3,351 |
Held to maturity, Amortized cost | 4,996 | 2,386 |
Held to Maturity, Unrealized Gains | 88 | 24 |
Held to Maturity, Unrealized Losses | (18) | |
Held to Maturity, Fair Value | $ 5,084 | $ 2,392 |
Securities (Scheduled Maturitie
Securities (Scheduled Maturities Of Debt And Mortgage-Backed Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Securities [Abstract] | ||
Debt securities available for sale, Due in one year or less, Amortized cost | $ 3,790 | $ 6,005 |
Debt securities available for sale, Due after one year through five years, Amortized cost | 7,768 | 6,481 |
Debt securities available for sale, Due after five years through ten years, Amortized cost | 23,959 | 18,754 |
Debt securities available for sale, Due after ten years, Amortized cost | 33,489 | |
Debt securities available for sale, Amortized cost | 69,006 | 31,240 |
Mortgage-backed securities available for sale, Amortized cost | 83,094 | 95,977 |
Total securities designated as available for sale, Amortized Cost | 152,100 | 127,217 |
Debt securities available for sale, Due in one year or less, Estimated fair value | 3,802 | 6,014 |
Debt securities available for sale, Due after one year through five years, Estimated fair value | 7,971 | 6,626 |
Debt securities available for sale, Due after five years through ten years, Estimated fair value | 24,658 | 18,866 |
Debt securities available for sale, Due after ten years, Estimated fair value | 33,393 | |
Debt securities available for sale, Estimated fair value | 69,824 | 31,506 |
Mortgage-backed securities available for sale, Estimated fair value | 85,937 | 96,416 |
Total securities available for sale, Estimated fair value | 155,761 | 127,922 |
Debt securities held to maturity, Due in one year or less, Amortized cost | 3,944 | 1,139 |
Debt securities held to maturity, Due after one year through five years, Amortized cost | 564 | 712 |
Debt securities held to maturity, Due after five years through ten years, Amortized cost | 45 | 54 |
Debt securities held to maturity, Due after ten years, Amortized cost | 443 | 481 |
Held to maturity, Amortized cost | 4,996 | 2,386 |
Debt securities held to maturity, Due in one year or less, Estimated fair value | 3,949 | 1,140 |
Debt securites held to maturity, Due after one year through five years, Estimated fair value | 597 | 732 |
Debt securites held to maturity, Due after five years through ten years, Estimated fair value | 48 | 54 |
Debt securities held to maturity, Due after ten years, Estimated fair value | 490 | 466 |
Held to maturity, Estimated fair value | $ 5,084 | $ 2,392 |
Securities (Unrealized Losses O
Securities (Unrealized Losses On Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired securities, Less than 12 months, Fair Value | $ 27,916 | $ 20,526 |
Total temporarily impaired securities, 12 months or longer, Fair Value | 2,983 | 20,896 |
Total temporarily impaired securities, Total, Fair Value | 30,899 | 41,422 |
Total temporarily impaired securities, Less than 12 months, Unrealized Losses | (130) | (185) |
Total temporarily impaired securities, 12 months or longer, Unrealized Losses | (56) | (185) |
Total temporarily impaired securities, Total, Unrealized Losses | (186) | (370) |
Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 484 | 18,323 |
Available for Sale, 12 months or longer, Fair Value | 2,802 | 14,553 |
Available for Sale, Total, Fair Value | 3,286 | 32,876 |
Available for Sale, Less than 12 months, Unrealized Losses | (2) | (166) |
Available for Sale, 12 months or longer, Unrealized Losses | (51) | (158) |
Available for Sale, Total, Unrealized Losses | (53) | (324) |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 27,432 | 1,976 |
Available for Sale, 12 months or longer, Fair Value | 181 | 4,178 |
Available for Sale, Total, Fair Value | 27,613 | 6,154 |
Available for Sale, Less than 12 months, Unrealized Losses | (128) | (18) |
Available for Sale, 12 months or longer, Unrealized Losses | (5) | (10) |
Available for Sale, Total, Unrealized Losses | (133) | (28) |
Debt Securities [Member] | US Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 27,432 | 1,976 |
Available for Sale, 12 months or longer, Fair Value | 3,997 | |
Available for Sale, Total, Fair Value | 27,432 | 5,973 |
Available for Sale, Less than 12 months, Unrealized Losses | (128) | (18) |
Available for Sale, 12 months or longer, Unrealized Losses | (3) | |
Available for Sale, Total, Unrealized Losses | (128) | (21) |
Debt Securities [Member] | States And Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, 12 months or longer, Fair Value | 181 | 181 |
Available for Sale, Total, Fair Value | 181 | 181 |
Available for Sale, 12 months or longer, Unrealized Losses | (5) | (7) |
Available for Sale, Total, Unrealized Losses | (5) | (7) |
Held To Maturity, Less than 12 months, Fair Value | 227 | |
Held To Maturity, 12 months or longer, Fair Value | 2,165 | |
Held To Maturity, Total, Fair Value | 2,392 | |
Held To Maturity, Less than 12 months, Unrealized Losses | (1) | |
Held To Maturity, 12 months or longer, Unrealized Losses | (17) | |
Held To Maturity, Total, Unrealized Losses | (18) | |
FNMA [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 238 | 5,355 |
Available for Sale, 12 months or longer, Fair Value | 1,396 | 3,630 |
Available for Sale, Total, Fair Value | 1,634 | 8,985 |
Available for Sale, Less than 12 months, Unrealized Losses | (1) | (38) |
Available for Sale, 12 months or longer, Unrealized Losses | (17) | (15) |
Available for Sale, Total, Unrealized Losses | (18) | (53) |
FHLMC [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 90 | |
Available for Sale, 12 months or longer, Fair Value | 1,242 | |
Available for Sale, Total, Fair Value | 90 | 1,242 |
Available for Sale, 12 months or longer, Unrealized Losses | (13) | |
Available for Sale, Total, Unrealized Losses | (13) | |
GNMA [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 156 | 2,091 |
Available for Sale, 12 months or longer, Fair Value | 770 | |
Available for Sale, Total, Fair Value | 156 | 2,861 |
Available for Sale, Less than 12 months, Unrealized Losses | (1) | (22) |
Available for Sale, 12 months or longer, Unrealized Losses | (2) | |
Available for Sale, Total, Unrealized Losses | (1) | (24) |
SBA [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 5,171 | |
Available for Sale, 12 months or longer, Fair Value | 1,406 | |
Available for Sale, Total, Fair Value | 1,406 | 5,171 |
Available for Sale, Less than 12 months, Unrealized Losses | (70) | |
Available for Sale, 12 months or longer, Unrealized Losses | (34) | |
Available for Sale, Total, Unrealized Losses | $ (34) | (70) |
CMO [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 5,706 | |
Available for Sale, 12 months or longer, Fair Value | 8,911 | |
Available for Sale, Total, Fair Value | 14,617 | |
Available for Sale, Less than 12 months, Unrealized Losses | (36) | |
Available for Sale, 12 months or longer, Unrealized Losses | (128) | |
Available for Sale, Total, Unrealized Losses | $ (164) |
Loans And The Allowance For L_3
Loans And The Allowance For Loan Losses (Narrative) (Details) $ in Millions | Sep. 30, 2020USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)loan | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding principal balance | $ 0.9 | $ 0.9 | $ 0.9 | |||
Acquired credit-impaired loans | 0.8 | 0.8 | 0.8 | $ 0 | ||
Valuation allowances, acquired credit-impaired loans | 0 | 0 | 0 | |||
Hotel loan portfolio | 81 | 81 | $ 81 | |||
Total percentage of hotel loan in total commercial loans | 6.50% | |||||
Total criticized assets increase | $ 133 | $ 133 | $ 133 | 51 | ||
Period of timely payments before reversion to accruing status | 6 months | |||||
FSB [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Acquired loans | $ 271 | |||||
PPP Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Fixed rate | 1.00% | 1.00% | 1.00% | |||
Deferred payment period | 10 months | |||||
Number of PPP loans | loan | 1,931 | |||||
Paycheck Protection Program Loans, total | $ 203 | |||||
Fees | $ 5.8 | $ 7.4 | ||||
PPP Loans [Member] | Before June 5, 2020 [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Term | 2 years | |||||
PPP Loans [Member] | On Or After June 5, 2020 [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Term | 5 years | |||||
Residential Mortgages [Member] | FSB [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan servicing portfolio principal balance | 107 | $ 107 | $ 107 | |||
Commercial And Industrial [Member] | CARES Act [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Number of loan modifications | loan | 381 | |||||
Principal balances on loan modification | $ 368 | |||||
Consumer And Other Loans [Member] | CARES Act [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Number of loan modifications | loan | 298 | |||||
Principal balances on loan modification | $ 37 | |||||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan servicing portfolio principal balance | 185 | 185 | 185 | 76 | ||
Mortgage servicing rights | 1 | 1 | 1 | 0.6 | ||
Mortgage loans held-for-sale | $ 0 | 0 | 0 | $ 0.7 | ||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | FHLMC Loans [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage loans sold | 0 | $ 0 | 0 | $ 0 | ||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | FNMA Loans [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage loans sold | $ 7.2 | $ 3 | $ 15 | $ 7.6 |
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, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | $ 1,709,361 | $ 1,224,997 | |||
Unaccreted yield adjustments | (6,285) | [1] | 1,534 | [1] | $ 1,600 |
Total gross loans | 1,703,076 | 1,226,531 | |||
Allowance for loan losses | (20,601) | (15,175) | |||
Loans, net | 1,682,475 | 1,211,356 | |||
Commercial And Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 448,092 | 251,197 | |||
Consumer And Other Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 412 | 1,926 | |||
Total Real Estate Loans [Member] | Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 1,260,857 | 971,874 | |||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 371,359 | 159,639 | |||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 364,598 | 158,572 | |||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 6,761 | 1,067 | |||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 804,635 | 742,884 | |||
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 | 702,624 | 645,036 | |||
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 | 102,011 | 97,848 | |||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 84,863 | 69,351 | |||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | 84,863 | $ 69,351 | |||
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans before deferred loan origination costs | $ 448,092 | ||||
[1] | Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $ 5.8 million of PPP fees at |
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, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 1,709,361 | $ 1,224,997 |
Total Real Estate Loans [Member] | Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,260,857 | 971,874 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 804,635 | 742,884 |
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 | 367,159 | 524,943 |
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 | 325,287 | 184,657 |
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 | 16,073 | 24,084 |
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 | 96,116 | 9,200 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 102,011 | 97,848 |
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 | 52,162 | 73,646 |
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 | 21,322 | 13,380 |
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 | 2,088 | 8,359 |
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 | 26,439 | 2,463 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 702,624 | 645,036 |
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 | 314,997 | 451,297 |
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 | 303,965 | 171,277 |
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 | 13,985 | 15,725 |
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 | 69,677 | 6,737 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 448,092 | 251,197 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 339,810 | 165,255 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 87,414 | 68,665 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 5,855 | 7,631 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 15,013 | $ 9,646 |
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 448,092 |
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, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | $ 1,677,893 | $ 1,192,611 | |||
Non-accruing Loans | 20,868 | 14,396 | |||
Total Balance | 1,709,361 | 1,224,997 | |||
Unaccreted yield adjustments | (6,285) | [1] | 1,534 | [1] | $ 1,600 |
30-59 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 1,565 | 10,058 | |||
60-89 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 8,437 | 7,932 | |||
90+ Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 598 | ||||
Commercial And Industrial [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | 440,340 | 245,658 | |||
Non-accruing Loans | 6,950 | 4,834 | |||
Total Balance | 448,092 | 251,197 | |||
Commercial And Industrial [Member] | 30-59 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 575 | 705 | |||
Commercial And Industrial [Member] | 60-89 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 227 | ||||
Consumer And Other Loans [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | 398 | 1,907 | |||
Total Balance | 412 | 1,926 | |||
Consumer And Other Loans [Member] | 30-59 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 3 | 15 | |||
Consumer And Other Loans [Member] | 60-89 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 7 | 4 | |||
Consumer And Other Loans [Member] | 90+ Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 4 | ||||
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Balance | 448,092 | ||||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Balance | 371,359 | 159,639 | |||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Balance | 804,635 | 742,884 | |||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | 82,864 | 67,868 | |||
Non-accruing Loans | 1,059 | 890 | |||
Total Balance | 84,863 | 69,351 | |||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 30-59 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 929 | 354 | |||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 60-89 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 11 | 239 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Balance | 1,260,857 | 971,874 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | 360,418 | 153,630 | |||
Non-accruing Loans | 2,856 | 1,438 | |||
Total Balance | 364,598 | 158,572 | |||
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 | 58 | 2,616 | |||
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 | 1,266 | 888 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | 687,280 | 630,016 | |||
Non-accruing Loans | 8,697 | 5,659 | |||
Total Balance | 702,624 | 645,036 | |||
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 | 3,482 | ||||
Mortgages [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 | 6,053 | 5,879 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 90+ Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 594 | ||||
Mortgages [Member] | Total Real Estate Loans [Member] | Home Equity Loans [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Balance | 84,863 | 69,351 | |||
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | 6,038 | 865 | |||
Total Balance | 6,761 | 1,067 | |||
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 60-89 Days [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Total Past Due | 723 | 202 | |||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Current Balance | 100,555 | 92,667 | |||
Non-accruing Loans | 1,306 | 1,575 | |||
Total Balance | 102,011 | 97,848 | |||
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 | 2,886 | ||||
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 | $ 150 | $ 720 | |||
[1] | Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $ 5.8 million of PPP fees at |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses: Beginning balance | $ 18,754 | $ 15,248 | $ 15,175 | $ 14,784 | ||||||
Allowance for loan losses: Charge-offs | (143) | (186) | (225) | (398) | ||||||
Allowance for loan losses: Recoveries | 109 | 751 | 174 | 799 | ||||||
Allowance for loan losses: Provision(Credit) | 1,881 | (431) | 5,477 | 197 | ||||||
Allowance for loan losses: Ending balance | 20,601 | 15,382 | 20,601 | 15,382 | ||||||
Allowance for loan losses: Loans acquired with deteriorated credit quality | ||||||||||
Allowance for loan losses: Individually evaluated for impairment | 1,257 | $ 477 | ||||||||
Allowance for loan losses: Collectively evaluated for impairment | 19,344 | 14,698 | ||||||||
Allowance for loan losses: Total | 20,601 | 15,382 | 15,175 | 14,784 | 20,601 | 15,175 | $ 15,382 | |||
Loans: Loans acquired with deteriorated credit quality | 870 | |||||||||
Loans: Individually evaluated for impairment | 22,292 | 18,627 | ||||||||
Loans: Collectively evaluated for impairment | 1,686,199 | 1,206,370 | ||||||||
Total | 1,709,361 | 1,224,997 | ||||||||
Unaccreted yield adjustments | (6,285) | [1] | 1,534 | [1] | 1,600 | |||||
Commercial And Industrial [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses: Beginning balance | 4,547 | |||||||||
Allowance for loan losses: Individually evaluated for impairment | 442 | |||||||||
Allowance for loan losses: Collectively evaluated for impairment | 4,105 | |||||||||
Allowance for loan losses: Total | 4,547 | 4,547 | ||||||||
Loans: Individually evaluated for impairment | 6,558 | |||||||||
Loans: Collectively evaluated for impairment | 244,639 | |||||||||
Total | 448,092 | 251,197 | ||||||||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses: Beginning balance | 5,260 | 5,272 | 4,547 | 4,368 | ||||||
Allowance for loan losses: Charge-offs | (124) | (91) | (143) | (248) | ||||||
Allowance for loan losses: Recoveries | 105 | 747 | 141 | 786 | ||||||
Allowance for loan losses: Provision(Credit) | (23) | (732) | 673 | 290 | ||||||
Allowance for loan losses: Ending balance | 5,218 | 5,196 | 5,218 | 5,196 | ||||||
Allowance for loan losses: Loans acquired with deteriorated credit quality | ||||||||||
Allowance for loan losses: Individually evaluated for impairment | 1,103 | |||||||||
Allowance for loan losses: Collectively evaluated for impairment | 4,115 | |||||||||
Allowance for loan losses: Total | 5,218 | 5,196 | 4,547 | 4,368 | 5,218 | 4,547 | 5,196 | |||
Loans: Loans acquired with deteriorated credit quality | ||||||||||
Loans: Individually evaluated for impairment | 7,160 | |||||||||
Loans: Collectively evaluated for impairment | 440,932 | |||||||||
Total | 448,092 | |||||||||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses: Beginning balance | [2] | 11,625 | 8,637 | 9,005 | 8,844 | |||||
Allowance for loan losses: Charge-offs | [2] | (5) | (55) | (5) | (56) | |||||
Allowance for loan losses: Recoveries | [2] | 11 | ||||||||
Allowance for loan losses: Provision(Credit) | [2] | 1,843 | 358 | 4,452 | 152 | |||||
Allowance for loan losses: Ending balance | [2] | 13,463 | 8,940 | 13,463 | 8,940 | |||||
Allowance for loan losses: Loans acquired with deteriorated credit quality | ||||||||||
Allowance for loan losses: Individually evaluated for impairment | 154 | 9 | ||||||||
Allowance for loan losses: Collectively evaluated for impairment | 13,309 | 8,996 | ||||||||
Allowance for loan losses: Total | [2] | 13,463 | 8,940 | 9,005 | 8,844 | 13,463 | 9,005 | 8,940 | ||
Loans: Loans acquired with deteriorated credit quality | ||||||||||
Loans: Individually evaluated for impairment | 10,502 | 7,791 | ||||||||
Loans: Collectively evaluated for impairment | 794,133 | 735,093 | ||||||||
Total | 804,635 | 742,884 | ||||||||
Consumer And Other Loans [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses: Beginning balance | 233 | 130 | 155 | 106 | ||||||
Allowance for loan losses: Charge-offs | (14) | (40) | (44) | (94) | ||||||
Allowance for loan losses: Recoveries | 4 | 4 | 22 | 13 | ||||||
Allowance for loan losses: Provision(Credit) | (187) | 45 | (97) | 114 | ||||||
Allowance for loan losses: Ending balance | 36 | 139 | 36 | 139 | ||||||
Allowance for loan losses: Loans acquired with deteriorated credit quality | ||||||||||
Allowance for loan losses: Individually evaluated for impairment | 21 | |||||||||
Allowance for loan losses: Collectively evaluated for impairment | 36 | 134 | ||||||||
Allowance for loan losses: Total | 36 | 139 | 155 | 106 | 36 | 155 | 139 | |||
Loans: Loans acquired with deteriorated credit quality | ||||||||||
Loans: Individually evaluated for impairment | 21 | |||||||||
Loans: Collectively evaluated for impairment | 412 | 1,905 | ||||||||
Total | 412 | 1,926 | ||||||||
Residential Mortgages [Member] | Total Real Estate Loans [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses: Beginning balance | [2] | 1,147 | 883 | 1,071 | 1,121 | |||||
Allowance for loan losses: Charge-offs | [2] | (29) | ||||||||
Allowance for loan losses: Recoveries | [2] | |||||||||
Allowance for loan losses: Provision(Credit) | [2] | 218 | (87) | 323 | (325) | |||||
Allowance for loan losses: Ending balance | [2] | 1,365 | 796 | 1,365 | 796 | |||||
Allowance for loan losses: Loans acquired with deteriorated credit quality | ||||||||||
Allowance for loan losses: Individually evaluated for impairment | 5 | |||||||||
Allowance for loan losses: Collectively evaluated for impairment | 1,365 | 1,066 | ||||||||
Allowance for loan losses: Total | [2] | 1,365 | 796 | 1,071 | 1,121 | 1,365 | 1,071 | 796 | ||
Loans: Loans acquired with deteriorated credit quality | 870 | |||||||||
Loans: Individually evaluated for impairment | 3,138 | 2,804 | ||||||||
Loans: Collectively evaluated for impairment | 367,351 | 156,835 | ||||||||
Total | 371,359 | 159,639 | ||||||||
Home Equity Loans [Member] | Total Real Estate Loans [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses: Beginning balance | 489 | 326 | 397 | 345 | ||||||
Allowance for loan losses: Charge-offs | (4) | |||||||||
Allowance for loan losses: Recoveries | ||||||||||
Allowance for loan losses: Provision(Credit) | 30 | (15) | 126 | (34) | ||||||
Allowance for loan losses: Ending balance | 519 | 311 | 519 | 311 | ||||||
Allowance for loan losses: Loans acquired with deteriorated credit quality | ||||||||||
Allowance for loan losses: Individually evaluated for impairment | ||||||||||
Allowance for loan losses: Collectively evaluated for impairment | 519 | 397 | ||||||||
Allowance for loan losses: Total | $ 519 | $ 311 | $ 397 | $ 345 | 519 | 397 | $ 311 | |||
Loans: Loans acquired with deteriorated credit quality | ||||||||||
Loans: Individually evaluated for impairment | 1,492 | 1,453 | ||||||||
Loans: Collectively evaluated for impairment | 83,371 | 67,898 | ||||||||
Total | $ 84,863 | $ 69,351 | ||||||||
[1] | Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $ 5.8 million of PPP fees at | |||||||||
[2] | 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, 2020 | Dec. 31, 2019 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | $ 14,934 | $ 15,349 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 8,174 | 3,278 |
Impaired Loans, Recorded Investment, Total | 23,108 | 18,627 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 16,358 | 16,675 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 8,338 | 3,336 |
Impaired Loans, Unpaid Principal Balance, Total | 24,696 | 20,011 |
Impaired Loans, Related Allowance | 1,257 | 477 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 15,589 | 16,031 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 8,319 | 3,286 |
Impaired Loans, Average Recorded Investment, Total | 23,908 | 19,317 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 402 | 503 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 290 | 128 |
Impaired Loans, Interest Income Foregone, Total | 692 | 631 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 130 | 358 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 25 | 78 |
Impaired Loans, Interest Income Recognized, Total | 155 | 436 |
Commercial And Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 2,358 | 3,798 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 4,802 | 2,760 |
Impaired Loans, Recorded Investment, Total | 7,160 | 6,558 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 2,580 | 4,112 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 4,942 | 2,808 |
Impaired Loans, Unpaid Principal Balance, Total | 7,522 | 6,920 |
Impaired Loans, Related Allowance | 1,103 | 442 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 2,624 | 4,046 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 4,941 | 2,764 |
Impaired Loans, Average Recorded Investment, Total | 7,565 | 6,810 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 79 | 118 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 189 | 109 |
Impaired Loans, Interest Income Foregone, Total | 268 | 227 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 29 | 143 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 15 | 63 |
Impaired Loans, Interest Income Recognized, Total | 44 | 206 |
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 | |
Impaired Loans, Recorded Investment, Total | 21 | |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 23 | |
Impaired Loans, Unpaid Principal Balance, Total | 23 | |
Impaired Loans, Related Allowance | 21 | |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 22 | |
Impaired Loans, Average Recorded Investment, Total | 22 | |
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 | |
Impaired Loans, Interest Income Recognized, Total | 1 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 3,954 | 2,744 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 60 | |
Impaired Loans, Recorded Investment, Total | 3,954 | 2,804 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 4,314 | 3,003 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 62 | |
Impaired Loans, Unpaid Principal Balance, Total | 4,314 | 3,065 |
Impaired Loans, Related Allowance | 5 | |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 4,018 | 2,823 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 61 | |
Impaired Loans, Average Recorded Investment, Total | 4,018 | 2,884 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 76 | 73 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 3 | |
Impaired Loans, Interest Income Foregone, Total | 76 | 76 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 49 | 63 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 1 | |
Impaired Loans, Interest Income Recognized, Total | 49 | 64 |
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 | 5,824 | 6,019 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 3,372 | 197 |
Impaired Loans, Recorded Investment, Total | 9,196 | 6,216 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 6,398 | 6,521 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 3,396 | 197 |
Impaired Loans, Unpaid Principal Balance, Total | 9,794 | 6,718 |
Impaired Loans, Related Allowance | 154 | 4 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 6,056 | 6,293 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 3,378 | 197 |
Impaired Loans, Average Recorded Investment, Total | 9,434 | 6,490 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 180 | 225 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 101 | 8 |
Impaired Loans, Interest Income Foregone, Total | 281 | 233 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 36 | 72 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 10 | 4 |
Impaired Loans, Interest Income Recognized, Total | 46 | 76 |
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 | 1,306 | 1,335 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 240 | |
Impaired Loans, Recorded Investment, Total | 1,306 | 1,575 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,352 | 1,352 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 246 | |
Impaired Loans, Unpaid Principal Balance, Total | 1,352 | 1,598 |
Impaired Loans, Related Allowance | 5 | |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,326 | 1,344 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 242 | |
Impaired Loans, Average Recorded Investment, Total | 1,326 | 1,586 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 26 | 23 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 8 | |
Impaired Loans, Interest Income Foregone, Total | 26 | 31 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 50 | |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 9 | |
Impaired Loans, Interest Income Recognized, Total | 59 | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 1,492 | 1,453 |
Impaired Loans, Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Recorded Investment, Total | 1,492 | 1,453 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,714 | 1,687 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, Total | 1,714 | 1,687 |
Impaired Loans, Related Allowance | ||
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,565 | 1,525 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Average Recorded Investment, Total | 1,565 | 1,525 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 41 | 64 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | ||
Impaired Loans, Interest Income Foregone, Total | 41 | 64 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 16 | 30 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | ||
Impaired Loans, Interest Income Recognized, Total | $ 16 | $ 30 |
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, 2020 | Dec. 31, 2019 |
Financing Receivable, Modifications [Line Items] | ||
Total | $ 7,594 | $ 8,258 |
Related Allowance | 360 | 47 |
Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,828 | 2,052 |
Related Allowance | 360 | 26 |
Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 21 | |
Related Allowance | 21 | |
Nonaccruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 5,301 | 4,027 |
Nonaccruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,618 | 328 |
Nonaccruing [Member] | Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 2,293 | 4,231 |
Accruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 210 | 1,724 |
Accruing [Member] | Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 21 | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 562 | 738 |
Related Allowance | ||
Total Real Estate Loans [Member] | Nonaccruing [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 129 | 175 |
Total Real Estate Loans [Member] | Accruing [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 433 | 563 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,741 | 1,815 |
Related Allowance | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 3,463 | 3,632 |
Related Allowance | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 589 | 449 |
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 2,965 | 3,075 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,152 | 1,366 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 498 | 557 |
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 | ||
Related Allowance | ||
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 | ||
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 |
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, 2020USD ($)contract | Sep. 30, 2019USD ($)contract | Sep. 30, 2020USD ($)contract | Sep. 30, 2019USD ($)contract | |
Commercial And Industrial [Member] | Extension Of Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 21 | $ 21 | ||
Post-Modification Outstanding Recorded Investment | $ 21 | $ 21 | ||
Commercial And Industrial [Member] | Term-Out Line Of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 42 | $ 42 | ||
Post-Modification Outstanding Recorded Investment | $ 42 | $ 42 | ||
Residential Mortgages [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 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 97 | $ 307 | $ 97 | $ 307 |
Post-Modification Outstanding Recorded Investment | $ 97 | $ 307 | $ 97 | $ 307 |
Residential Mortgages [Member] | Total Real Estate Loans [Member] | Combination Of Concessions [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 56 | |||
Post-Modification Outstanding Recorded Investment | $ 56 | |||
Home Equity Loans [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 |
Goodwill (Schedule Of Goodwill
Goodwill (Schedule Of Goodwill And Intangible Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Goodwill [Line Items] | ||||
Goodwill, Beginning Balance | $ 12,715 | $ 10,520 | $ 10,520 | $ 10,520 |
Goodwill, Amortization | ||||
Goodwill, Ending Balance | 12,715 | 10,520 | 12,715 | 10,520 |
Intangible Assets, Amortization | (136) | (112) | (400) | (336) |
Core Deposit Intangibles [Member] | ||||
Goodwill [Line Items] | ||||
Intangible Assets, Beginning Balance | 162 | |||
Intangible Assets, Amortization | (7) | (11) | ||
Intangible Assets, Ending Balance | 155 | 155 | ||
Other Intangibles [Member] | ||||
Goodwill [Line Items] | ||||
Intangible Assets, Beginning Balance | 2,345 | 2,248 | 2,025 | 2,472 |
Intangible Assets, Amortization | (130) | (111) | (390) | (335) |
Intangible Assets, Ending Balance | $ 2,215 | $ 2,137 | 2,215 | $ 2,137 |
Benefit Brokers Of WNY, LLC [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquisition | 427 | |||
Benefit Brokers Of WNY, LLC [Member] | Core Deposit Intangibles [Member] | ||||
Goodwill [Line Items] | ||||
Intangible Assets, Acquisition | ||||
Benefit Brokers Of WNY, LLC [Member] | Other Intangibles [Member] | ||||
Goodwill [Line Items] | ||||
Intangible Assets, Acquisition | 580 | |||
FSB [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquisition | 1,768 | |||
FSB [Member] | Core Deposit Intangibles [Member] | ||||
Goodwill [Line Items] | ||||
Intangible Assets, Acquisition | 166 | |||
FSB [Member] | Other Intangibles [Member] | ||||
Goodwill [Line Items] | ||||
Intangible Assets, Acquisition |
Subordinated Debt (Narrative) (
Subordinated Debt (Narrative) (Details) - USD ($) $ in Thousands | Jul. 09, 2020 | Oct. 01, 2004 | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||||
Junior subordinated debentures | $ 30,912 | $ 11,330 | ||
Subordinated Note Purchase Agreements [Member] | ||||
Debt Instrument [Line Items] | ||||
Aggregate principal amount | $ 20,000 | |||
Proceeds from debt, net of debt issuance costs | $ 19,500 | |||
Maturity date | Jul. 15, 2030 | |||
Interest rate | 6.00% | |||
Basis spread on variable rate | 5.90% | |||
Junior Subordinated Debentures [Member] | Capital Securities [Member] | ||||
Debt Instrument [Line Items] | ||||
Junior subordinated debentures | $ 11,000 | |||
Maturity date | Nov. 23, 2034 | |||
Junior Subordinated Debentures [Member] | Common Stock [Member] | ||||
Debt Instrument [Line Items] | ||||
Junior subordinated debentures | $ 300 |
Common Equity And Earnings Pe_2
Common Equity And Earnings Per Share Data (Narrative) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Common Equity And Earnings Per Share Data [Abstract] | ||||
Weighted average number of shares outstanding, dilutive | 18,955 | 57,899 | 35,564 | 68,660 |
Potentially anti-dilutive shares outstanding | 150,783 | 82,642 | 81,770 | 85,579 |
Other Comprehensive Income (Sch
Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ 617 | $ (2,445) | $ (2,583) | $ (5,353) |
Net Change | (743) | 591 | 2,457 | 3,499 |
Ending Balance | (126) | (1,854) | (126) | (1,854) |
Net Unrealized Gain (Loss) On Investment Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 3,545 | 426 | 522 | (2,348) |
Net Change | (833) | 523 | 2,190 | 3,297 |
Ending Balance | 2,712 | 949 | 2,712 | 949 |
Net Defined Benefit Pension Plan Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (2,928) | (2,871) | (3,105) | (3,005) |
Net Change | 90 | 68 | 267 | 202 |
Ending Balance | $ (2,838) | $ (2,803) | $ (2,838) | $ (2,803) |
Other Comprehensive Income (Com
Other Comprehensive Income (Components Of Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Unrealized gain (loss) on investment securities: | ||||
Unrealized gain (loss) on investment securities, Before-Tax Amount | $ (455) | $ 705 | $ 3,623 | $ 4,493 |
Unrealized gain (loss) on investment securities, Income Tax (Provision) Benefit | 116 | (182) | (939) | (1,165) |
Unrealized gain (loss) on investment securities, Net-of-Tax Amount | (339) | 523 | 2,684 | 3,328 |
Reclassification from accumulated other comprehensive income for gain on sale of securities, Before-Tax Amount | (667) | (667) | (42) | |
Reclassification from accumulated other comprehensive income for gain on sale of securities, Income Tax (Provision) Benefit | 173 | 173 | 11 | |
Reclassification from accumulated other comprehensive income for gain on sale of securities, Net-of-Tax Amount | (494) | (494) | (31) | |
Net change, Before-Tax Amount | (1,122) | 705 | 2,956 | 4,451 |
Net change, Income Tax (Provision) Benefit | 289 | (182) | (766) | (1,154) |
Net change, Net-of-Tax Amount | (833) | 523 | 2,190 | 3,297 |
Defined benefit pension plan adjustments: | ||||
Amortization of prior service cost, Before-Tax Amount | 7 | 7 | 23 | 23 |
Amortization of prior service cost, Income Tax (Provision) Benefit | (1) | (1) | (6) | (6) |
Amortization of prior service cost, Net-of-Tax Amount | 6 | 6 | 17 | 17 |
Amortization of actuarial loss, Before-Tax Amount | 113 | 82 | 339 | 248 |
Amortization of actuarial loss, Income Tax (Provision) Benefit | (29) | (20) | (89) | (63) |
Amortization of actuarial loss, Net-of-Tax Amount | 84 | 62 | 250 | 185 |
Net change, Before-Tax Amount | 120 | 89 | 362 | 271 |
Net change, Income Tax (Provision) Benefit | (30) | (21) | (95) | (69) |
Total, Net-of-Tax | 90 | 68 | 267 | 202 |
Other comprehensive income (loss), Before-Tax Amount | (1,002) | 794 | 3,318 | 4,722 |
Other comprehensive income (loss), Income Tax (Provision) Benefit | 259 | (203) | (861) | (1,223) |
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX | $ (743) | $ 591 | $ 2,457 | $ 3,499 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Pension [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 50 | $ 55 | $ 151 | $ 165 |
Expected return on plan assets | (81) | (70) | (244) | (208) |
Amortization of the net loss | 25 | 24 | 76 | 72 |
Net periodic (benefit) cost | (6) | 9 | (17) | 29 |
Supplemental Executive Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 38 | 37 | 116 | 109 |
Interest cost | 38 | 51 | 114 | 151 |
Amortization of prior service cost | 7 | 7 | 23 | 23 |
Amortization of the net loss | 88 | 58 | 263 | 176 |
Net periodic (benefit) cost | $ 171 | $ 153 | $ 516 | $ 459 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 3,217 | $ 3,225 | $ 8,309 | $ 8,568 |
Commercial Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 1,439 | 1,382 | 3,261 | 3,267 |
Personal Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 890 | 863 | 2,611 | 2,618 |
Employee Benefits Sales Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 245 | 287 | 993 | 869 |
Profit Sharing And Contingent Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 375 | 430 | 733 | 939 |
Wealth Management And Other Financial Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 164 | 142 | 407 | 405 |
Insurance Claims Services Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 84 | 96 | 201 | 397 |
Other Insurance-Related Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 20 | $ 25 | $ 103 | $ 73 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans, allowance for loan loss | $ 1,257 | $ 477 |
Consumer Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Period past due for loan appraisals | 90 days | |
Nonrecurring [Member] | Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Collateral dependent impaired loans, gross | $ 22,300 | 16,000 |
Impaired loans, allowance for loan loss | $ 1,100 | $ 300 |
Fair Value Measurement (Financi
Fair Value Measurement (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 155,761 | $ 127,922 |
Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 1,007 | 555 |
Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 1,007 | 555 |
Recurring [Member] | US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 62,279 | 28,155 |
Recurring [Member] | US Government Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 62,279 | 28,155 |
Recurring [Member] | States And Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 7,545 | 3,351 |
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 | 7,545 | 3,351 |
Recurring [Member] | Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 85,937 | 96,416 |
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 | $ 85,937 | $ 96,416 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Mortgage servicing rights, beginning | $ 1,031 | $ 570 | $ 555 | $ 609 |
Losses included in earnings | (89) | (71) | (289) | (154) |
Additions from loan sales & acquisition | 65 | 28 | 741 | 72 |
Mortgage servicing rights, ending | $ 1,007 | $ 527 | $ 1,007 | $ 527 |
Fair Value Measurement (Quantit
Fair Value Measurement (Quantitative Information About Significant Unobservable Inputs For MSRs) (Details) - Mortgage Servicing Rights [Member] - Level 3 [Member] | Sep. 30, 2020 | Dec. 31, 2019 |
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) | 9.04 | 9 |
Prepayment Rate (CPR) [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair value measurement of unobservable input (as a percent) | 9.59 | 8.21 |
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, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 21,153 | $ 15,735 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 21,153 | $ 15,735 |
Fair Value Measurement (Estimat
Fair Value Measurement (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | $ 155,761 | $ 127,922 |
Held to maturity securities | 5,084 | 2,392 |
Demand deposits | 442,536 | 263,717 |
NOW deposits | 215,492 | 140,654 |
Savings deposits | 799,739 | 587,142 |
Time deposits | 323,211 | 275,927 |
Carrying Amount [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 103,635 | 38,857 |
Demand deposits | 442,536 | 263,717 |
NOW deposits | 215,492 | 140,654 |
Savings deposits | 799,739 | 587,142 |
Carrying Amount [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 155,761 | 127,922 |
FHLB and FRB stock | 5,914 | 3,544 |
Securities sold under agreement to repurchase | 4,414 | 2,425 |
Other borrowed funds | 47,583 | 10,000 |
Junior subordinated debentures | 30,912 | 11,330 |
Carrying Amount [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 4,996 | 2,386 |
Loans, net | 1,682,475 | 1,211,356 |
Mortgage servicing rights | 1,007 | 555 |
Time deposits | 323,211 | 275,927 |
Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 103,635 | 38,857 |
Demand deposits | 442,536 | 263,717 |
NOW deposits | 215,492 | 140,654 |
Savings deposits | 799,739 | 587,142 |
Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 155,761 | 127,922 |
FHLB and FRB stock | ||
Securities sold under agreement to repurchase | 4,414 | 2,425 |
Other borrowed funds | 48,336 | 9,997 |
Junior subordinated debentures | 30,912 | 11,330 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 5,084 | 2,392 |
Loans, net | 1,757,480 | 1,222,386 |
Mortgage servicing rights | 1,007 | 555 |
Time deposits | $ 325,266 | $ 277,051 |
Segment Information (Schedule O
Segment Information (Schedule Of Business Segments) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)segment | Sep. 30, 2019USD ($) | |
Number of primary business segments | segment | 2 | |||
Net interest income (expense) | $ 15,642 | $ 13,621 | $ 43,351 | $ 39,263 |
Provision for loan losses | 1,881 | (431) | 5,477 | 197 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 13,761 | 14,052 | 37,874 | 39,066 |
Insurance service and fees | 3,217 | 3,225 | 8,309 | 8,568 |
Other non-interest income | 5,857 | 5,164 | 13,434 | 14,089 |
Intangible Assets, Amortization | 136 | 112 | 400 | 336 |
Other non-interest expense | 14,468 | 12,276 | 45,350 | 35,649 |
INCOME BEFORE INCOME TAXES | 5,150 | 6,940 | 5,958 | 17,506 |
Income tax provision | 606 | 1,776 | 741 | 4,240 |
NET INCOME | 4,544 | 5,164 | 5,217 | 13,266 |
Operating Segments [Member] | ||||
Net interest income (expense) | 15,642 | 13,621 | 43,351 | 39,263 |
Provision for loan losses | 1,881 | (431) | 5,477 | 197 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 13,761 | 14,052 | 37,874 | 39,066 |
Insurance service and fees | 3,217 | 3,225 | 8,309 | 8,568 |
Other non-interest income | 2,640 | 1,939 | 5,125 | 5,521 |
Intangible Assets, Amortization | 136 | 112 | 400 | 336 |
Other non-interest expense | 14,332 | 12,164 | 44,950 | 35,313 |
INCOME BEFORE INCOME TAXES | 5,150 | 6,940 | 5,958 | 17,506 |
Income tax provision | 606 | 1,776 | 741 | 4,240 |
NET INCOME | 4,544 | 5,164 | 5,217 | 13,266 |
Banking Activities [Member] | Operating Segments [Member] | ||||
Net interest income (expense) | 15,644 | 13,652 | 43,359 | 39,360 |
Provision for loan losses | 1,881 | (431) | 5,477 | 197 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 13,763 | 14,083 | 37,882 | 39,163 |
Insurance service and fees | 162 | 130 | 395 | 377 |
Other non-interest income | 2,636 | 1,777 | 5,121 | 5,359 |
Intangible Assets, Amortization | 6 | 11 | ||
Other non-interest expense | 12,372 | 9,778 | 38,917 | 28,775 |
INCOME BEFORE INCOME TAXES | 4,183 | 6,212 | 4,470 | 16,124 |
Income tax provision | 354 | 1,587 | 354 | 3,880 |
NET INCOME | 3,829 | 4,625 | 4,116 | 12,244 |
Insurance Agency Activities [Member] | Operating Segments [Member] | ||||
Net interest income (expense) | (2) | (31) | (8) | (97) |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | (2) | (31) | (8) | (97) |
Insurance service and fees | 3,055 | 3,095 | 7,914 | 8,191 |
Other non-interest income | 4 | 162 | 4 | 162 |
Intangible Assets, Amortization | 130 | 112 | 389 | 336 |
Other non-interest expense | 1,960 | 2,386 | 6,033 | 6,538 |
INCOME BEFORE INCOME TAXES | 967 | 728 | 1,488 | 1,382 |
Income tax provision | 252 | 189 | 387 | 360 |
NET INCOME | $ 715 | $ 539 | $ 1,101 | $ 1,022 |
Contingent Liabilities And Co_3
Contingent Liabilities And Commitments (Summary Of Commitments And Contingent Liabilities) (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | $ 361,202 | $ 336,283 | |
Losses on commitments | 0 | $ 0 | |
Reserve for commitments | 0 | $ 0 | |
Commitments To Extend Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | 357,561 | 331,974 | |
Standby Letters Of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | $ 3,641 | $ 4,309 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Allowance for credit losses | $ 20,601 | $ 18,754 | $ 15,175 | $ 15,382 | $ 15,248 | $ 14,784 |
ASU 2016-13 [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Allowance for credit losses | $ 249,000 |