Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 29, 2021 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Fiscal Period Focus | Q1 | |
Document Period End Date | Mar. 31, 2021 | |
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, $0.50 par value | |
Trading Symbol | EVBN | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,433,604 | |
Amendment Flag | false | |
Entity Central Index Key | 0000842518 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 10,562 | $ 13,702 |
Interest-bearing deposits at banks | 105,658 | 83,902 |
Securities: | ||
Available for sale, at fair value (amortized cost: $192,352 at March 31, 2021; $159,157 at December 31, 2020) | 190,338 | 162,396 |
Held to maturity, at amortized cost (fair value: $4,697 at March 31, 2021; $4,271 at December 31, 2020) | 4,674 | 4,204 |
Federal Home Loan Bank common stock, at cost | 3,551 | 3,470 |
Federal Reserve Bank common stock, at cost | 2,782 | 2,323 |
Loans, net of allowance for loan losses of $20,701 at March 31, 2021 and $20,415 at December 31, 2020 | 1,726,527 | 1,673,379 |
Properties and equipment, net of accumulated depreciation of $20,436 at March 31, 2021 and $19,963 at December 31, 2020 | 19,065 | 19,305 |
Goodwill | 12,713 | 12,713 |
Intangible assets | 2,104 | 2,238 |
Bank-owned life insurance | 34,152 | 33,989 |
Operating lease right-of-use asset | 5,058 | 5,282 |
Other assets | 27,081 | 27,212 |
TOTAL ASSETS | 2,144,265 | 2,044,115 |
Deposits: | ||
Demand | 486,386 | 436,157 |
NOW | 238,769 | 230,751 |
Savings | 924,781 | 825,947 |
Time | 222,002 | 278,554 |
Total deposits | 1,871,938 | 1,771,409 |
Securities sold under agreement to repurchase | 5,682 | 4,093 |
Other borrowings | 41,699 | 44,698 |
Operating lease liability | 5,463 | 5,694 |
Other liabilities | 21,612 | 18,444 |
Subordinated debt | 30,897 | 30,872 |
Total liabilities | 1,977,291 | 1,875,210 |
STOCKHOLDERS' EQUITY: | ||
Common stock, $0.50 par value, 10,000,000 shares authorized; 5,428,993 and 5,411,384 shares issued at March 31, 2021 and December 31, 2020, respectively, and 5,428,993 and 5,411,384 outstanding at March 31, 2021 and December 31, 2020, respectively | 2,716 | 2,708 |
Capital surplus | 76,673 | 76,394 |
Retained earnings | 92,117 | 90,522 |
Accumulated other comprehensive income (loss), net of tax | (4,532) | (719) |
Total stockholders' equity | 166,974 | 168,905 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,144,265 | $ 2,044,115 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Securities: | ||
Available for sale, amortized cost | $ 192,352 | $ 159,157 |
Held to maturity, fair value | 4,697 | 4,271 |
Loans, allowance for loan losses | 20,701 | 20,415 |
Properties and equipment, accumulated depreciation | $ 20,436 | $ 19,963 |
STOCKHOLDERS' EQUITY: | ||
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,428,993 | 5,411,384 |
Common stock, shares outstanding | 5,428,993 | 5,411,384 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
INTEREST INCOME | ||
Loans | $ 17,066 | $ 14,546 |
Interest-bearing deposits at banks | 16 | 181 |
Securities: | ||
Taxable | 832 | 1,049 |
Non-taxable | 56 | 47 |
Total interest income | 17,970 | 15,823 |
INTEREST EXPENSE | ||
Deposits | 886 | 2,876 |
Other borrowings | 88 | 47 |
Subordinated debt | 399 | 124 |
Total interest expense | 1,373 | 3,047 |
NET INTEREST INCOME | 16,597 | 12,776 |
PROVISION FOR LOAN LOSSES | 313 | 2,999 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 16,284 | 9,777 |
NON-INTEREST INCOME | ||
Deposit service charges | 572 | 628 |
Insurance service and fees | 2,502 | 2,425 |
Gain on loans sold | 51 | |
Bank-owned life insurance | 163 | 160 |
Loss on tax credit investment | (2,475) | |
Refundable state historic tax credit | 1,857 | |
Interchange fee income | 490 | 382 |
Other | 839 | 310 |
Total non-interest income | 4,566 | 3,338 |
NON-INTEREST EXPENSE | ||
Salaries and employee benefits | 9,044 | 7,797 |
Occupancy | 1,187 | 861 |
Advertising and public relations | 263 | 269 |
Professional services | 959 | 914 |
Technology and communications | 1,264 | 1,096 |
Amortization of intangibles | 135 | 130 |
FDIC insurance | 300 | 179 |
Merger-related | 460 | |
Other | 1,213 | 1,164 |
Total non-interest expense | 14,365 | 12,870 |
INCOME BEFORE INCOME TAXES | 6,485 | 245 |
INCOME TAX PROVISION | 1,633 | 41 |
NET INCOME | $ 4,852 | $ 204 |
Net income per common share-basic | $ 0.89 | $ 0.04 |
Net income per common share-diluted | $ 0.89 | $ 0.04 |
Weighted average number of common shares outstanding | 5,421,837 | 4,936,947 |
Weighted average number of diluted shares outstanding | 5,463,674 | 4,992,214 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Consolidated Statements Of Comprehensive Income [Abstract] | ||
NET INCOME | $ 4,852 | $ 204 |
Unrealized (loss) gain on available-for-sale securities | ||
Unrealized (loss) gain on available-for-sale securities | (3,889) | 1,835 |
Defined benefit pension plans: | ||
Amortization of prior service cost | 6 | 5 |
Amortization of actuarial loss | 70 | 82 |
Total, Net-of-Tax | 76 | 87 |
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX | (3,813) | 1,922 |
COMPREHENSIVE INCOME | $ 1,039 | $ 2,126 |
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, 2019 | $ 2,467 | $ 63,302 | $ 85,267 | $ (2,583) | $ 148,453 |
Net income | 204 | 204 | |||
Other comprehensive income | 1,922 | 1,922 | |||
Cash dividends | (2,867) | (2,867) | |||
Stock compensation expense | 257 | 257 | |||
Reissued restricted shares | |||||
Issued restricted shares, net of forfeitures | 3 | (3) | |||
Issued shares in stock option exercises | 4 | 123 | 127 | ||
Balance at Mar. 31, 2020 | 2,474 | 63,679 | 82,604 | (661) | 148,096 |
Balance at Dec. 31, 2020 | 2,708 | 76,394 | 90,522 | (719) | 168,905 |
Net income | 4,852 | 4,852 | |||
Other comprehensive income | (3,813) | (3,813) | |||
Cash dividends | (3,257) | (3,257) | |||
Stock compensation expense | 233 | 233 | |||
Issued restricted shares, net of forfeitures | 4 | (4) | |||
Issued shares in stock option exercises | 4 | 50 | 54 | ||
Balance at Mar. 31, 2021 | $ 2,716 | $ 76,673 | $ 92,117 | $ (4,532) | $ 166,974 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders’ Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Consolidated Statements Of Changes In Stockholders’ Equity [Abstract] | ||
Cash dividends per common share | $ 0.60 | $ 0.58 |
Reissued restricted shares | 310 | |
Issued restricted shares, net of forfeitures | 8,280 | 5,930 |
Issued shares in stock option exercises | 9,329 | 7,279 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
OPERATING ACTIVITIES: | ||
Interest received | $ 17,080 | $ 15,968 |
Fees received | 5,183 | 4,113 |
Interest paid | (1,790) | (2,248) |
Cash paid to employees and vendors | (15,000) | (11,362) |
Income taxes paid | (187) | (103) |
Proceeds from sale of loans held for sale | 3,739 | |
Originations of loans held for sale | (3,335) | |
Net cash provided by operating activities | 5,286 | 6,772 |
INVESTING ACTIVITIES: | ||
Available for sales securities: Purchases | (40,301) | (46,322) |
Available for sales securities: Proceeds from sales, maturities, calls, and payments | 6,421 | 17,430 |
Held to maturity securities: Purchases | (515) | (511) |
Held to maturity securities: Proceeds from maturities, calls, and payments | 45 | 50 |
Additions to properties and equipment | (233) | (491) |
Purchase of tax credit investment | (3,116) | |
Net cash used in acquisitions | (683) | |
Sale of other real estate | 129 | |
Net increase in loans | (51,764) | (20,449) |
Net cash used in investing activities | (86,218) | (54,092) |
FINANCING ACTIVITIES: | ||
Proceeds from short-term borrowings, net | 897 | 147 |
Repayment of long-term borrowings, net | (2,131) | |
Net increase in deposits | 100,728 | 60,157 |
Issuance of common stock | 54 | 127 |
Net cash provided by financing activities | 99,548 | 60,431 |
Net increase in cash and cash equivalents | 18,616 | 13,111 |
CASH AND CASH EQUIVALENTS: | ||
Beginning of period | 97,604 | 38,857 |
End of period | 116,220 | 51,968 |
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: | ||
Net income | 4,852 | 204 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 440 | 538 |
Deferred tax benefit | (1,971) | (1,001) |
Provision for loan losses | 313 | 2,999 |
Loss on tax credit investment | 2,475 | |
Changes in refundable state historic tax credit | (1,857) | |
Loss on sales of assets | 22 | |
Gain on loans sold | (51) | |
Stock compensation expense | 233 | 257 |
Proceeds from sale of loans held for sale | 3,739 | |
Originations of loans held for sale | (3,335) | |
Changes in assets and liabilities affecting cash flow: | ||
Other assets | (1,553) | (225) |
Other liabilities | 2,950 | 3,029 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 5,286 | $ 6,772 |
Organization And Summary Of Sig
Organization And Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
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 three month period ended March 31, 2021 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “10-K”). There have been no significant changes to the Company’s significant accounting policies as disclosed in Note 1 to the 10-K. COVID-19 – Risks & Uncertainties The Company’s operations and financial results have been significantly impacted by the COVID-19 pandemic. The spread of COVID-19 has caused significant economic disruption throughout the United States as state and local governments issued stay at home orders and temporarily closed non-essential businesses. The full financial impact from the pandemic is unknown at this time, however prolonged disruption may adversely impact several industries within the Company's geographic footprint and impair the ability of the Company’s customers to fulfill their contractual obligations to the Company. This could cause the Company to experience a material adverse effect on business operations, asset valuations, financial condition and results of operations. Material adverse impacts may include all or a combination of valuation impairments on the Company’s intangible assets, investments, loans and mortgage servicing rights. |
Acquisitions
Acquisitions | 3 Months Ended |
Mar. 31, 2021 | |
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. Management engaged a third-party specialist to develop the fair value estimate of certain FSB’s assets and liabilities as of the acquisition date. The assets and liabilities, both tangible and intangible were recorded at their fair values as of May 1, 2020. 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. Goodwill arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the operations of the companies and is not tax deductible. 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 $ 0.5 million for the three months ended March 31, 2020. These expenses were recorded in merger-related expense on the consolidated statements of income. There were no merger-related expenses during the three months ended March 31, 2021. The following table presents selected unaudited pro forma financial information reflecting the FSB merger assuming it was completed as of January 1, 2020. 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 months ended March 31, 2020. Three months ended March 31, 2020 (in thousands) Net interest income after provision $ 12,000 Non-interest income 3,751 Non-interest expense 14,944 Net income 620 The unaudited supplemental pro forma information for the three months ended March 31, 2020 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 months ended March 31, 2020 are assumed to have occurred prior to January 1, 2020. Furthermore, the unaudited supplemental pro forma information does not reflect management’s estimate of any revenue enhancement opportunities or anticipated potential cost savings. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2021 | |
Securities [Abstract] | |
Securities | 3. SECURITIES The amortized cost of securities and their approximate fair value at March 31, 2021 and December 31, 2020 were as follows: March 31, 2021 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 75,224 $ 418 $ ( 2,946 ) $ 72,696 States and political subdivisions 7,164 133 ( 3 ) 7,294 Total debt securities 82,388 551 ( 2,949 ) 79,990 Mortgage-backed securities: FNMA 38,045 533 ( 508 ) 38,070 FHLMC 7,443 97 ( 145 ) 7,395 GNMA 5,726 45 ( 60 ) 5,711 SBA 20,197 411 ( 98 ) 20,510 CMO 38,553 556 ( 447 ) 38,662 Total mortgage-backed securities 109,964 1,642 ( 1,258 ) 110,348 Total securities designated as available for sale $ 192,352 $ 2,193 $ ( 4,207 ) $ 190,338 Held to Maturity: Debt securities States and political subdivisions $ 4,674 $ 30 $ ( 7 ) $ 4,697 Total securities designated as held to maturity $ 4,674 $ 30 $ ( 7 ) $ 4,697 December 31, 2020 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 67,619 $ 731 $ ( 252 ) $ 68,098 States and political subdivisions 7,362 169 ( 7 ) 7,524 Total debt securities 74,981 900 ( 259 ) 75,622 Mortgage-backed securities: FNMA 24,265 654 ( 50 ) 24,869 FHLMC 3,739 111 ( 1 ) 3,849 GNMA 2,006 58 ( 1 ) 2,063 SBA 20,949 914 ( 33 ) 21,830 CMO 33,217 946 - 34,163 Total mortgage-backed securities 84,176 2,683 ( 85 ) 86,774 Total securities designated as available for sale $ 159,157 $ 3,583 $ ( 344 ) $ 162,396 Held to Maturity: Debt securities States and political subdivisions $ 4,204 $ 67 $ - $ 4,271 Total securities designated as held to maturity $ 4,204 $ 67 $ - $ 4,271 Available for sale securities with a total fair value of $ 164 million and $ 135 million at March 31, 2021 and December 31, 2020, 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 March 31, 2021 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. March 31, 2021 Amortized Estimated cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 1,779 $ 1,781 Due after one year through five years 7,995 8,163 Due after five years through ten years 35,125 35,104 Due after ten years 37,489 34,942 82,388 79,990 Mortgage-backed securities available for sale 109,964 110,348 Total $ 192,352 $ 190,338 Debt securities held to maturity: Due in one year or less $ 3,738 $ 3,741 Due after one year through five years 448 471 Due after five years through ten years 45 47 Due after ten years 443 438 Total $ 4,674 $ 4,697 Contractual maturities of the Company’s mortgage-backed securities generally exceed ten years ; however, the effective lives may be significantly shorter due to prepayments of the underlying loans and due to the nature of these securities. There were no gross realized gains or losses from sales of investment securities for the three month periods ended March 31, 2021 and 2020. Information regarding unrealized losses within the Company’s available for sale securities at March 31, 2021 and December 31, 2020 is summarized below. The securities are primarily U.S. government-guaranteed agency securities or municipal securities. March 31, 2021 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. treasuries and government agencies $ 50,680 $ ( 2,946 ) $ - $ - $ 50,680 $ ( 2,946 ) States and political subdivisions 205 ( 3 ) - - 205 ( 3 ) Total debt securities 50,885 ( 2,949 ) - - 50,885 ( 2,949 ) Mortgage-backed securities: FNMA 20,847 ( 507 ) 27 ( 1 ) 20,874 ( 508 ) FHLMC 4,045 ( 145 ) - - 4,045 ( 145 ) GNMA 4,083 ( 60 ) - - 4,083 ( 60 ) SBA 4,257 ( 65 ) 1,377 ( 33 ) 5,634 ( 98 ) CMO 14,166 ( 447 ) - - 14,166 ( 447 ) Total mortgage-backed securities 47,398 ( 1,224 ) 1,404 ( 34 ) 48,802 ( 1,258 ) Held to Maturity: Debt securities: States and political subdivisions 361 ( 7 ) - - 361 ( 7 ) Total temporarily impaired securities $ 98,644 $ ( 4,180 ) $ 1,404 $ ( 34 ) $ 100,048 $ ( 4,214 ) December 31, 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. treasuries and government agencies $ 33,801 $ ( 252 ) $ - $ - $ 33,801 $ ( 252 ) States and political subdivisions 207 ( 1 ) 180 ( 6 ) 387 ( 7 ) Total debt securities 34,008 ( 253 ) 180 ( 6 ) 34,188 ( 259 ) Mortgage-backed securities: FNMA 3,354 ( 39 ) 1,391 ( 11 ) 4,745 ( 50 ) FHLMC 182 ( 1 ) - - 182 ( 1 ) GNMA 154 ( 1 ) - - 154 ( 1 ) SBA - - 1,392 ( 33 ) 1,392 ( 33 ) CMO 121 - - - 121 - Total mortgage-backed securities 3,811 ( 41 ) 2,783 ( 44 ) 6,594 ( 85 ) Held to Maturity: Debt securities: States and political subdivisions - - - - - - Total temporarily impaired securities $ 37,819 $ ( 294 ) $ 2,963 $ ( 50 ) $ 40,782 $ ( 344 ) Management has assessed the securities available for sale in an unrealized loss position at March 31, 2021 and December 31, 2020 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 three months ended March 31, 2021 and did no t record any OTTI charges during 2020. 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 | 3 Months Ended |
Mar. 31, 2021 | |
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: March 31, 2021 December 31, 2020 Mortgage loans on real estate: (in thousands) Residential mortgages $ 375,253 $ 365,351 Commercial and multi-family 721,658 706,276 Construction-Residential 5,632 7,509 Construction-Commercial 118,080 106,559 Home equities 82,450 82,602 Total real estate loans 1,303,073 1,268,297 Commercial and industrial loans 450,961 430,350 Consumer and other loans 678 151 Unaccreted yield adjustments* ( 7,484 ) ( 5,004 ) Total gross loans 1,747,228 1,693,794 Allowance for loan losses ( 20,701 ) ( 20,415 ) Loans, net $ 1,726,527 $ 1,673,379 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $ 6.9 million and $ 4.6 million of PPP fees at March 31, 2021 and December 31, 2020, respectively. On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (“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 years (loans made before June 5, 2020) or five years (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. At March 31, 2021, the Company had originated PPP loans totaling $ 292 million, included in commercial and industrial loans. As of March 31, 2021, $ 55 million in PPP loans had received SBA forgiveness. 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 totaled $ 11.5 million as of March 31, 2021, including $ 4.1 million collected in the three month period ended March 31, 2021. 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. In the three month period ended March 31, 2021 the total amount of PPP fees recognized into interest income was $ 1.7 million. In connection with the FSB acquisition, the Company acquired $ 271 million in total loans, primarily residential real estate loans. At March 31, 2021, the outstanding principal balance and the carrying amount of acquired credit-impaired loans totaled $ 0.8 million. 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 was less than $ 0.1 million of valuation allowances for specifically identified impairment attributable to acquired credit-impaired loans at March 31, 2021. At December 31, 2020, the outstanding principal balance and carrying amount of acquired credit-impaired loans totaled $ 0.9 million and $ 0.8 million, respectively. 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 months periods ending March 31, 2021 and 2020. The Company may also sell certain fixed rate residential mortgages to FNMA while maintaining the servicing rights for those mortgages. In the three month period ended March 31, 2021, the Company did not sell mortgages to FNMA. In the three month period ended March 31, 2020, the Company sold mortgages to FNMA totaling $ 3.7 million. At March 31, 2021 and December 31, 2020, the Company had loan servicing portfolio principal balances of $ 158 million and $ 171 million, respectively, upon which it earned servicing fees. The fair value of the mortgage servicing rights for that portfolio was $ 1.1 million and $ 0.9 million at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021 there were no residential mortgages held for sale. At December 31, 2020 there were $ 0.8 million in residential mortgages held for sale. There were $ 643 million and $ 630 million in residential and commercial mortgage loans pledged to FHLBNY to serve as collateral for potential borrowings as of March 31, 2021 and December 31, 2020, respectively. 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, the accounting policy for loans acquired in a business combination, 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, 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 2020 was a result of the Company reclassifying all commercial loans that received a deferral into the watch or criticized categories. As the loans continue to pay as contracted the Company will reassess the watch classification. 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 March 31, 2021, the Company’s hotel loan portfolio was $ 82 million, or approximately 6.3 % of total commercial loans. Total criticized assets were $ 154 million at March 31, 2021 and $ 140 million at the end of the 2020. The following tables provide data, at the class level, of credit quality indicators of certain loans for the dates specified: March 31, 2021 (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 $ 69,738 $ 369,883 $ 439,621 $ 352,836 Watch 16,541 254,897 271,438 72,927 Special Mention 2,842 25,261 28,103 12,261 Substandard 28,959 71,617 100,576 12,937 Doubtful/Loss - - - - Total $ 118,080 $ 721,658 $ 839,738 $ 450,961 December 31, 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 $ 59,020 $ 317,854 $ 376,874 $ 314,322 Watch 17,218 300,061 317,279 95,117 Special Mention 2,041 17,656 19,697 6,555 Substandard 28,280 70,705 98,985 14,356 Doubtful/Loss - - - - Total $ 106,559 $ 706,276 $ 812,835 $ 430,350 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: March 31, 2021 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 435,191 $ 10,021 $ 52 $ - $ 5,697 $ 450,961 Residential real estate: Residential 367,490 4,320 - - 3,443 375,253 Construction 5,278 354 - - - 5,632 Commercial real estate: Commercial 681,899 24,614 - 117 15,028 721,658 Construction 108,005 6,502 - - 3,573 118,080 Home equities 80,895 260 74 - 1,221 82,450 Consumer and other 656 15 6 1 - 678 Total Loans $ 1,679,414 $ 46,086 $ 132 $ 118 $ 28,962 $ 1,754,712 Note: Loan balances do not include $( 7.5 ) million of unaccreted yield adjustments as of March 31, 2021. December 31, 2020 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 419,409 $ 4,240 $ 122 $ 94 $ 6,485 $ 430,350 Residential real estate: Residential 357,135 4,156 1,262 109 2,689 365,351 Construction 7,509 - - - - 7,509 Commercial real estate: Commercial 667,426 20,024 4,166 - 14,660 706,276 Construction 94,030 5,616 4,062 - 2,851 106,559 Home equities 80,044 744 604 14 1,196 82,602 Consumer and other 111 6 14 17 3 151 Total Loans $ 1,625,664 $ 34,786 $ 10,230 $ 234 $ 27,884 $ 1,698,798 Note: Loan balances do not include $( 5.0 ) m illion of unaccreted yield adjustments as of December 31, 2020. 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 March 31, 2021 and 2020. March 31, 2021 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 4,882 $ 13,249 $ 45 $ 1,658 581 $ 20,415 Charge-offs - - ( 60 ) - - ( 60 ) Recoveries 21 - 12 - - 33 Provision (Credit) ( 513 ) 819 60 51 ( 104 ) 313 Ending balance $ 4,390 $ 14,068 $ 57 $ 1,709 $ 477 $ 20,701 *Includes construction loans March 31, 2020 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 4,547 $ 9,005 $ 155 $ 1,071 $ 397 $ 15,175 Charge-offs ( 17 ) - ( 15 ) ( 29 ) ( 4 ) ( 65 ) Recoveries 32 - 16 - - 48 Provision (Credit) 1,013 1,583 ( 65 ) 376 92 2,999 Ending balance $ 5,575 $ 10,588 $ 91 $ 1,418 $ 485 $ 18,157 * Includes construction loans 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 March 31, 2021 and December 31, 2020: March 31, 2021 (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 $ - $ - $ - $ 28 $ - $ 28 Individually evaluated for impairment 1,190 1,272 - - 11 2,473 Collectively evaluated for impairment 3,200 12,796 57 1,681 466 18,200 Total $ 4,390 $ 14,068 $ 57 $ 1,709 $ 477 $ 20,701 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 839 $ - $ 839 Individually evaluated for impairment 5,697 19,088 - 3,620 1,619 30,024 Collectively evaluated for impairment 445,264 820,650 678 376,426 80,831 1,723,849 Total $ 450,961 $ 839,738 $ 678 $ 380,885 $ 82,450 $ 1,754,712 Note: Loan balances do not include $( 7.5 ) million of unaccreted yield adjustments as of March 31, 2021. * Includes construction loans December 31, 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 994 539 3 - 11 1,547 Collectively evaluated for impairment 3,888 12,710 42 1,658 570 18,868 Total $ 4,882 $ 13,249 $ 45 $ 1,658 $ 581 $ 20,415 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 860 $ - $ 860 Individually evaluated for impairment 6,485 18,004 3 2,874 1,624 28,990 Collectively evaluated for impairment 423,865 794,831 148 369,126 80,978 1,668,948 Total $ 430,350 $ 812,835 $ 151 $ 372,860 $ 82,602 $ 1,698,798 Note: Loan balances do not include $( 5.0 ) million of unaccreted yield adjustments as of December 31, 2020. * Includes construction loans Impaired Loans The following tables provide data, at the class level, for impaired loans as of the dates indicated: At March 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 1,234 $ 1,402 $ - $ 1,344 $ 3 Residential real estate: Residential 3,613 3,967 - 4,542 17 Construction - - - - - Commercial real estate: Commercial 12,572 13,792 - 11,929 12 Construction 1,284 1,352 - 1,085 - Home equities 1,510 1,733 - 1,719 2 Consumer and other - - - - - Total impaired loans $ 20,213 $ 22,246 $ - $ 20,619 $ 34 At March 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 4,463 $ 4,655 $ 1,190 $ 4,139 $ - Residential real estate: Residential 764 853 28 627 - Construction - - - - - Commercial real estate: Commercial 2,943 2,953 153 2,943 - Construction 2,289 2,293 1,119 2,528 2 Home equities 109 109 11 109 - Consumer and other - - - - - Total impaired loans $ 10,568 $ 10,863 $ 2,501 $ 10,346 $ 2 At March 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Total: (in thousands) Commercial and industrial $ 5,697 $ 6,057 $ 1,190 $ 5,483 $ 3 Residential real estate: Residential 4,377 4,820 28 5,169 17 Construction - - - - - Commercial real estate: Commercial 15,515 16,745 153 14,872 12 Construction 3,573 3,645 1,119 3,613 2 Home equities 1,619 1,842 11 1,828 2 Consumer and other - - - - - Total impaired loans $ 30,781 $ 33,109 $ 2,501 $ 30,965 $ 36 At December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 1,706 $ 1,947 $ - $ 1,952 $ 8 Residential real estate: Residential 3,703 4,069 - 3,754 60 Construction - - - - - Commercial real estate: Commercial 12,210 12,840 - 12,397 209 Construction 1,295 1,352 - 1,315 - Home equities 1,515 1,741 - 1,565 23 Consumer and other - - - - - Total impaired loans $ 20,429 $ 21,949 $ - $ 20,983 $ 300 At December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 4,779 $ 4,993 $ 994 $ 4,938 $ 25 Residential real estate: Residential - - - - - Construction - - - - - Commercial real estate: Commercial 2,943 2,953 153 2,943 10 Construction 1,556 1,556 386 1,556 53 Home equities 109 109 11 109 1 Consumer and other 3 3 3 3 - Total impaired loans $ 9,390 $ 9,614 $ 1,547 $ 9,549 $ 89 At December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Total: (in thousands) Commercial and industrial $ 6,485 $ 6,940 $ 994 $ 6,890 $ 33 Residential real estate: Residential 3,703 4,069 - 3,754 60 Construction - - - - - Commercial real estate: Commercial 15,153 15,793 153 15,340 219 Construction 2,851 2,908 386 2,871 53 Home equities 1,624 1,850 11 1,674 24 Consumer and other 3 3 3 3 - Total impaired loans $ 29,819 $ 31,563 $ 1,547 $ 30,532 $ 389 Troubled debt restructurings The following tables summarize the loans that were classified as troubled debt restructurings (“TDRs”) as of the dates indicated: March 31, 2021 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,472 $ 1,472 $ - $ 309 Residential real estate: Residential 1,652 637 1,015 - Construction - - - - Commercial real estate: Commercial and multi-family 3,367 2,880 487 - Construction - - - - Home equities 518 120 398 - Consumer and other - - - - Total TDR loans $ 7,009 $ 5,109 $ 1,900 $ 309 December 31, 2020 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,722 $ 1,722 $ - $ 370 Residential real estate: Residential 1,632 587 1,045 - Construction - - - - Commercial real estate: Commercial and multi-family 3,408 2,915 493 - Construction - - - - Home equities 552 124 428 - Consumer and other - - - - Total TDR loans $ 7,314 $ 5,348 $ 1,966 $ 370 Any TDR that is placed on non-accrual is not reverted back to accruing status until the borrower makes timely payments as contracted for at least six months and future collection under the revised terms is probable. All of the Company’s restructurings were allowed in an effort to maximize its ability to collect on loans where borrowers were experiencing financial difficulty. The reserve for a TDR is based upon the present value of the future expected cash flows discounted at the loan’s original effective interest rate or upon the fair value of the collateral less costs to sell, if the loan is deemed collateral dependent. This reserve methodology is used because all TDR loans are considered impaired. 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. The Company had applied this guidance and during 2020 had made 381 modifications of commercial loans with principal balances totaling $ 368 million, and approximately 298 modifications of consumer loans with principal balances totaling $ 37 million. COVID-19 related modifications made during the three months ended March 31, 2021 were not material. The following tables present TDR activity by the type of concession granted to the borrower for the three periods ended March 31 , 2021 and 2020: Three months ended March 31, 2021 Three months ended March 31, 2020 (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 - $ - $ - - $ - $ - Residential Real Estate & Construction: Combination of concessions - - - 1 56 56 Commercial Real Estate & Construction - - - - - - Home Equities - - - - - - Consumer and other loans - - - - - - Other - - - - - - 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 three month periods ended March 31, 2021 and 2020 were not material. |
Common Equity And Earnings Per
Common Equity And Earnings Per Share Data | 3 Months Ended |
Mar. 31, 2021 | |
Common Equity And Earnings Per Share Data [Abstract] | |
Common Equity And Earnings Per Share Data | 5. COMMON EQUITY AND EARNINGS PER SHARE DATA The common stock per share information is based upon the weighted average number of shares outstanding during each period. For the three month periods ended March 31 , 2021 and 2020, the Company had an average of 41,837 and 55,267 dilutive shares outstanding, respectively. 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 month periods ended March 31 , 2021 and 2020, there was an average of 81,770 potentially anti-dilutive shares outstanding, that were not included in calculating diluted earnings per share because their effect was anti-dilutive. |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2021 | |
Other Comprehensive Income [Abstract] | |
Other Comprehensive Income | 6. OTHER COMPREHENSIVE INCOME The following tables summarize the changes in the components of accumulated other comprehensive income during the three months ended March 31 , 2021 and 2020: Balance at December 31, 2020 Net Change Balance at March 31, 2021 (in thousands) Net unrealized gain (loss) on investment securities $ 2,397 $ ( 3,889 ) $ ( 1,492 ) Net defined benefit pension plan adjustments ( 3,116 ) 76 ( 3,040 ) Total $ ( 719 ) $ ( 3,813 ) $ ( 4,532 ) Balance at December 31, 2019 Net Change Balance at March 31, 2020 (in thousands) Net unrealized gain on investment securities $ 522 $ 1,835 $ 2,357 Net defined benefit pension plan adjustments ( 3,105 ) 87 ( 3,018 ) Total $ ( 2,583 ) $ 1,922 $ ( 661 ) Three months ended March 31, 2021 Three months ended March 31, 2020 (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 $ ( 5,253 ) $ 1,364 $ ( 3,889 ) $ 2,475 $ ( 640 ) $ 1,835 Defined benefit pension plan adjustments: Amortization of prior service cost 8 ( 2 ) 6 8 ( 3 ) 5 Amortization of actuarial loss 95 ( 25 ) 70 113 ( 31 ) 82 Net change 103 ( 27 ) 76 121 ( 34 ) 87 Other comprehensive (loss) income $ ( 5,150 ) $ 1,337 $ ( 3,813 ) $ 2,596 $ ( 674 ) $ 1,922 |
Net Periodic Benefit Costs
Net Periodic Benefit Costs | 3 Months Ended |
Mar. 31, 2021 | |
Net Periodic Benefit Costs [Abstract] | |
Net Periodic Benefit Costs | 7. 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 month periods ended March 31 , 2021 and 2020: Three months ended March 31, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2021 2020 2021 2020 Service cost $ - $ - $ 37 $ 39 Interest cost 41 50 25 38 Expected return on plan assets ( 89 ) ( 81 ) - - Amortization of prior service cost - - 8 8 Amortization of the net loss 24 25 71 88 Net periodic (benefit) cost $ ( 24 ) $ ( 6 ) $ 141 $ 173 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 | 3 Months Ended |
Mar. 31, 2021 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Revenue Recognition Of Non-Interest Income | 8. 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 months ended March 31, 2021 and 2020 is provided in the tables below: Three months ended March 31, 2021 2020 (in thousands) Commercial property and casualty insurance commissions $ 797 $ 867 Personal property and casualty insurance commissions 740 754 Employee benefits sales commissions 244 379 Profit sharing and contingent revenue 402 206 Wealth management and other financial services 180 121 Insurance claims services revenue 81 55 Other insurance-related revenue 58 43 Total insurance service and other fees $ 2,502 $ 2,425 |
Fair Value Measurement
Fair Value Measurement | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Measurement [Abstract] | |
Fair Value Measurement | 9. 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 March 31, 2021 and December 31, 2020, respectively: (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2021 Securities available-for-sale: US treasuries and government agencies $ - $ 72,696 $ - $ 72,696 States and political subdivisions - 7,294 - 7,294 Mortgage-backed securities - 110,348 - 110,348 Mortgage servicing rights - - 1,113 1,113 December 31, 2020 Securities available-for-sale: US treasuries and government agencies $ - $ 68,098 $ - $ 68,098 States and political subdivisions - 7,524 - 7,524 Mortgage-backed securities - 86,774 - 86,774 Mortgage servicing rights - - 917 917 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 a quarterly 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 March 31, (in thousands) 2021 2020 Mortgage servicing rights - January 1 $ 917 $ 555 Gains/(Losses) included in earnings 196 ( 103 ) Additions from loan sales - 33 Mortgage servicing rights - March 31 $ 1,113 $ 485 Quantitative information about the significant unobservable inputs used in the fair value measurement of MSRs at the respective dates is as follows: March 31, 2021 December 31, 2020 Servicing fees 0.25 % 0.25 % Discount rate 9.03 % 9.04 % Prepayment rate (CPR) 8.12 % 9.73 % 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 March 31, 2021 and December 31, 2020: (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2021 Collateral dependent impaired loans $ - $ - $ 7,147 $ 7,147 December 31, 2020 Collateral dependent impaired loans $ - $ - $ 7,496 $ 7,496 Collateral dependent impaired loans The Company evaluates and values impaired loans at the time the loan is identified as impaired, and the fair values of such loans are estimated using Level 3 inputs in the fair value hierarchy. Each loan’s collateral has a unique appraisal and management’s discount of the value is based on factors unique to each impaired loan. The significant unobservable input in determining the fair value is management’s subjective discount on appraisals of the collateral securing the loan. Collateral may consist of real estate and/or business assets including equipment, inventory and/or accounts receivable and the value of these assets is determined based on appraisals by qualified licensed appraisers hired by the Company. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, estimated costs to sell, and/or management’s expertise and knowledge of the client and the client’s business. The Company has an appraisal policy in which appraisals are obtained upon a commercial loan being downgraded on the Company’s internal loan rating scale to a special mention or a substandard depending on the amount of the loan, the type of loan and the type of collateral. All impaired commercial loans are graded substandard or worse on the internal loan rating scale. For consumer loans, the Company obtains appraisals when a loan becomes 90 days past due or is determined to be impaired, whichever occurs first. Subsequent to the downgrade or reaching 90 days past due, if the loan remains outstanding and impaired for at least one year more, management may require another follow-up appraisal. Between receipts of updated appraisals, if necessary, management may perform an internal valuation based on any known changing conditions in the marketplace such as sales of similar properties, a change in the condition of the collateral, or feedback from local appraisers. Collateral dependent impaired loans had a recorded investment of $ 9.5 million, with an allowance for loan loss of $ 2.4 million, at March 31, 2021 compared with $ 8.8 million and $ 1.3 million, respectively, at December 31, 2020. 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. March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 116,220 $ 116,220 $ 97,604 $ 97,604 Level 2: Available for sale securities 190,338 190,338 162,396 162,396 FHLB and FRB stock 6,333 N/A 5,793 N/A Level 3: Held to maturity securities 4,674 4,697 4,204 4,271 Loans, net 1,726,527 1,754,522 1,673,379 1,720,878 Mortgage servicing rights 1,113 1,113 917 917 Financial liabilities: Level 1: Demand deposits $ 486,386 $ 486,386 $ 436,157 $ 436,157 NOW deposits 238,769 238,769 230,751 230,751 Savings deposits 924,781 924,781 825,947 825,947 Level 2: Securities sold under agreement to repurchase 5,682 5,682 4,093 4,093 Other borrowed funds 41,699 42,151 44,698 45,547 Subordinated debt 30,897 31,393 30,872 31,394 Level 3: Time deposits 222,002 223,015 278,554 280,059 |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2021 | |
Segment Information [Abstract] | |
Segment Information | 10. 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 month periods ended March 31 , 2021 and 2020. Three months ended March 31, 2021 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 16,600 $ ( 3 ) $ 16,597 Provision for loan losses 313 - 313 Net interest income (expense) after provision for loan losses 16,287 ( 3 ) 16,284 Insurance service and fees 164 2,338 2,502 Other non-interest income 2,064 - 2,064 Amortization expense 5 130 135 Other non-interest expense 12,213 2,017 14,230 Income before income taxes 6,297 188 6,485 Income tax provision 1,584 49 1,633 Net income $ 4,713 $ 139 $ 4,852 Three months ended March 31, 2020 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 12,779 $ ( 3 ) $ 12,776 Provision for loan losses 2,999 - 2,999 Net interest income (expense) after provision for loan losses 9,780 ( 3 ) 9,777 Insurance service and fees 113 2,312 2,425 Other non-interest income 913 - 913 Amortization expense - 130 130 Other non-interest expense 10,720 2,020 12,740 Income before income taxes 86 159 245 Income tax provision - 41 41 Net income $ 86 $ 118 $ 204 |
Contingent Liabilities And Comm
Contingent Liabilities And Commitments | 3 Months Ended |
Mar. 31, 2021 | |
Contingent Liabilities And Commitments [Abstract] | |
Contingent Liabilities And Commitments | 11. 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: March 31, December 31, 2021 2020 (in thousands) Commitments to extend credit $ 372,744 $ 359,152 Standby letters of credit 4,248 3,803 Total $ 376,992 $ 362,955 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 three months of 2021 or during 2020. 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 | 3 Months Ended |
Mar. 31, 2021 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 12. 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. On October 16, 2019, the FASB affirmed its decision to amend the effective date for the amendments in CECL for smaller reporting companies to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is allowed for fiscal years beginning after December 15, 2018. The Company intends to adopt CECL effective January 1, 2023. |
Organization And Summary Of S_2
Organization And Summary Of Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2021 | |
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 three month period ended March 31, 2021 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “10-K”). There have been no significant changes to the Company’s significant accounting policies as disclosed in Note 1 to the 10-K. |
COVID-19 - Risks & Uncertainties | COVID-19 – Risks & Uncertainties The Company’s operations and financial results have been significantly impacted by the COVID-19 pandemic. The spread of COVID-19 has caused significant economic disruption throughout the United States as state and local governments issued stay at home orders and temporarily closed non-essential businesses. The full financial impact from the pandemic is unknown at this time, however prolonged disruption may adversely impact several industries within the Company's geographic footprint and impair the ability of the Company’s customers to fulfill their contractual obligations to the Company. This could cause the Company to experience a material adverse effect on business operations, asset valuations, financial condition and results of operations. Material adverse impacts may include all or a combination of valuation impairments on the Company’s intangible assets, investments, loans and mortgage servicing rights. |
Revenue Recognition Of Non-In_2
Revenue Recognition Of Non-Interest Income (Policy) | 3 Months Ended |
Mar. 31, 2021 | |
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) | 3 Months Ended |
Mar. 31, 2021 | |
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 March 31, 2020 (in thousands) Net interest income after provision $ 12,000 Non-interest income 3,751 Non-interest expense 14,944 Net income 620 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Securities [Abstract] | |
Schedule Of Amortized Cost And Approximate Fair Value Of Securities | March 31, 2021 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 75,224 $ 418 $ ( 2,946 ) $ 72,696 States and political subdivisions 7,164 133 ( 3 ) 7,294 Total debt securities 82,388 551 ( 2,949 ) 79,990 Mortgage-backed securities: FNMA 38,045 533 ( 508 ) 38,070 FHLMC 7,443 97 ( 145 ) 7,395 GNMA 5,726 45 ( 60 ) 5,711 SBA 20,197 411 ( 98 ) 20,510 CMO 38,553 556 ( 447 ) 38,662 Total mortgage-backed securities 109,964 1,642 ( 1,258 ) 110,348 Total securities designated as available for sale $ 192,352 $ 2,193 $ ( 4,207 ) $ 190,338 Held to Maturity: Debt securities States and political subdivisions $ 4,674 $ 30 $ ( 7 ) $ 4,697 Total securities designated as held to maturity $ 4,674 $ 30 $ ( 7 ) $ 4,697 December 31, 2020 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 67,619 $ 731 $ ( 252 ) $ 68,098 States and political subdivisions 7,362 169 ( 7 ) 7,524 Total debt securities 74,981 900 ( 259 ) 75,622 Mortgage-backed securities: FNMA 24,265 654 ( 50 ) 24,869 FHLMC 3,739 111 ( 1 ) 3,849 GNMA 2,006 58 ( 1 ) 2,063 SBA 20,949 914 ( 33 ) 21,830 CMO 33,217 946 - 34,163 Total mortgage-backed securities 84,176 2,683 ( 85 ) 86,774 Total securities designated as available for sale $ 159,157 $ 3,583 $ ( 344 ) $ 162,396 Held to Maturity: Debt securities States and political subdivisions $ 4,204 $ 67 $ - $ 4,271 Total securities designated as held to maturity $ 4,204 $ 67 $ - $ 4,271 |
Scheduled Maturities Of Debt And Mortgage-Backed Securities | March 31, 2021 Amortized Estimated cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 1,779 $ 1,781 Due after one year through five years 7,995 8,163 Due after five years through ten years 35,125 35,104 Due after ten years 37,489 34,942 82,388 79,990 Mortgage-backed securities available for sale 109,964 110,348 Total $ 192,352 $ 190,338 Debt securities held to maturity: Due in one year or less $ 3,738 $ 3,741 Due after one year through five years 448 471 Due after five years through ten years 45 47 Due after ten years 443 438 Total $ 4,674 $ 4,697 |
Unrealized Losses On Securities | March 31, 2021 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. treasuries and government agencies $ 50,680 $ ( 2,946 ) $ - $ - $ 50,680 $ ( 2,946 ) States and political subdivisions 205 ( 3 ) - - 205 ( 3 ) Total debt securities 50,885 ( 2,949 ) - - 50,885 ( 2,949 ) Mortgage-backed securities: FNMA 20,847 ( 507 ) 27 ( 1 ) 20,874 ( 508 ) FHLMC 4,045 ( 145 ) - - 4,045 ( 145 ) GNMA 4,083 ( 60 ) - - 4,083 ( 60 ) SBA 4,257 ( 65 ) 1,377 ( 33 ) 5,634 ( 98 ) CMO 14,166 ( 447 ) - - 14,166 ( 447 ) Total mortgage-backed securities 47,398 ( 1,224 ) 1,404 ( 34 ) 48,802 ( 1,258 ) Held to Maturity: Debt securities: States and political subdivisions 361 ( 7 ) - - 361 ( 7 ) Total temporarily impaired securities $ 98,644 $ ( 4,180 ) $ 1,404 $ ( 34 ) $ 100,048 $ ( 4,214 ) December 31, 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. treasuries and government agencies $ 33,801 $ ( 252 ) $ - $ - $ 33,801 $ ( 252 ) States and political subdivisions 207 ( 1 ) 180 ( 6 ) 387 ( 7 ) Total debt securities 34,008 ( 253 ) 180 ( 6 ) 34,188 ( 259 ) Mortgage-backed securities: FNMA 3,354 ( 39 ) 1,391 ( 11 ) 4,745 ( 50 ) FHLMC 182 ( 1 ) - - 182 ( 1 ) GNMA 154 ( 1 ) - - 154 ( 1 ) SBA - - 1,392 ( 33 ) 1,392 ( 33 ) CMO 121 - - - 121 - Total mortgage-backed securities 3,811 ( 41 ) 2,783 ( 44 ) 6,594 ( 85 ) Held to Maturity: Debt securities: States and political subdivisions - - - - - - Total temporarily impaired securities $ 37,819 $ ( 294 ) $ 2,963 $ ( 50 ) $ 40,782 $ ( 344 ) |
Loans And The Allowance For L_2
Loans And The Allowance For Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Schedule Of Loan Portfolio Composition | March 31, 2021 December 31, 2020 Mortgage loans on real estate: (in thousands) Residential mortgages $ 375,253 $ 365,351 Commercial and multi-family 721,658 706,276 Construction-Residential 5,632 7,509 Construction-Commercial 118,080 106,559 Home equities 82,450 82,602 Total real estate loans 1,303,073 1,268,297 Commercial and industrial loans 450,961 430,350 Consumer and other loans 678 151 Unaccreted yield adjustments* ( 7,484 ) ( 5,004 ) Total gross loans 1,747,228 1,693,794 Allowance for loan losses ( 20,701 ) ( 20,415 ) Loans, net $ 1,726,527 $ 1,673,379 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $ 6.9 million and $ 4.6 million of PPP fees at March 31, 2021 and December 31, 2020, respectively. |
Data, At Class Level, Of Credit Quality Indicators Of Certain Loans | March 31, 2021 (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 $ 69,738 $ 369,883 $ 439,621 $ 352,836 Watch 16,541 254,897 271,438 72,927 Special Mention 2,842 25,261 28,103 12,261 Substandard 28,959 71,617 100,576 12,937 Doubtful/Loss - - - - Total $ 118,080 $ 721,658 $ 839,738 $ 450,961 December 31, 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 $ 59,020 $ 317,854 $ 376,874 $ 314,322 Watch 17,218 300,061 317,279 95,117 Special Mention 2,041 17,656 19,697 6,555 Substandard 28,280 70,705 98,985 14,356 Doubtful/Loss - - - - Total $ 106,559 $ 706,276 $ 812,835 $ 430,350 |
Recorded Investment In Loans Past Due | March 31, 2021 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 435,191 $ 10,021 $ 52 $ - $ 5,697 $ 450,961 Residential real estate: Residential 367,490 4,320 - - 3,443 375,253 Construction 5,278 354 - - - 5,632 Commercial real estate: Commercial 681,899 24,614 - 117 15,028 721,658 Construction 108,005 6,502 - - 3,573 118,080 Home equities 80,895 260 74 - 1,221 82,450 Consumer and other 656 15 6 1 - 678 Total Loans $ 1,679,414 $ 46,086 $ 132 $ 118 $ 28,962 $ 1,754,712 Note: Loan balances do not include $( 7.5 ) million of unaccreted yield adjustments as of March 31, 2021. December 31, 2020 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 419,409 $ 4,240 $ 122 $ 94 $ 6,485 $ 430,350 Residential real estate: Residential 357,135 4,156 1,262 109 2,689 365,351 Construction 7,509 - - - - 7,509 Commercial real estate: Commercial 667,426 20,024 4,166 - 14,660 706,276 Construction 94,030 5,616 4,062 - 2,851 106,559 Home equities 80,044 744 604 14 1,196 82,602 Consumer and other 111 6 14 17 3 151 Total Loans $ 1,625,664 $ 34,786 $ 10,230 $ 234 $ 27,884 $ 1,698,798 Note: Loan balances do not include $( 5.0 ) m illion of unaccreted yield adjustments as of December 31, 2020. |
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 March 31, 2021 and 2020. March 31, 2021 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 4,882 $ 13,249 $ 45 $ 1,658 581 $ 20,415 Charge-offs - - ( 60 ) - - ( 60 ) Recoveries 21 - 12 - - 33 Provision (Credit) ( 513 ) 819 60 51 ( 104 ) 313 Ending balance $ 4,390 $ 14,068 $ 57 $ 1,709 $ 477 $ 20,701 *Includes construction loans March 31, 2020 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 4,547 $ 9,005 $ 155 $ 1,071 $ 397 $ 15,175 Charge-offs ( 17 ) - ( 15 ) ( 29 ) ( 4 ) ( 65 ) Recoveries 32 - 16 - - 48 Provision (Credit) 1,013 1,583 ( 65 ) 376 92 2,999 Ending balance $ 5,575 $ 10,588 $ 91 $ 1,418 $ 485 $ 18,157 * Includes construction loans 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 March 31, 2021 and December 31, 2020: March 31, 2021 (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 $ - $ - $ - $ 28 $ - $ 28 Individually evaluated for impairment 1,190 1,272 - - 11 2,473 Collectively evaluated for impairment 3,200 12,796 57 1,681 466 18,200 Total $ 4,390 $ 14,068 $ 57 $ 1,709 $ 477 $ 20,701 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 839 $ - $ 839 Individually evaluated for impairment 5,697 19,088 - 3,620 1,619 30,024 Collectively evaluated for impairment 445,264 820,650 678 376,426 80,831 1,723,849 Total $ 450,961 $ 839,738 $ 678 $ 380,885 $ 82,450 $ 1,754,712 Note: Loan balances do not include $( 7.5 ) million of unaccreted yield adjustments as of March 31, 2021. * Includes construction loans December 31, 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 994 539 3 - 11 1,547 Collectively evaluated for impairment 3,888 12,710 42 1,658 570 18,868 Total $ 4,882 $ 13,249 $ 45 $ 1,658 $ 581 $ 20,415 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 860 $ - $ 860 Individually evaluated for impairment 6,485 18,004 3 2,874 1,624 28,990 Collectively evaluated for impairment 423,865 794,831 148 369,126 80,978 1,668,948 Total $ 430,350 $ 812,835 $ 151 $ 372,860 $ 82,602 $ 1,698,798 Note: Loan balances do not include $( 5.0 ) million of unaccreted yield adjustments as of December 31, 2020. * Includes construction loans |
Data, At Class Level, Of Impaired Loans | At March 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 1,234 $ 1,402 $ - $ 1,344 $ 3 Residential real estate: Residential 3,613 3,967 - 4,542 17 Construction - - - - - Commercial real estate: Commercial 12,572 13,792 - 11,929 12 Construction 1,284 1,352 - 1,085 - Home equities 1,510 1,733 - 1,719 2 Consumer and other - - - - - Total impaired loans $ 20,213 $ 22,246 $ - $ 20,619 $ 34 At March 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 4,463 $ 4,655 $ 1,190 $ 4,139 $ - Residential real estate: Residential 764 853 28 627 - Construction - - - - - Commercial real estate: Commercial 2,943 2,953 153 2,943 - Construction 2,289 2,293 1,119 2,528 2 Home equities 109 109 11 109 - Consumer and other - - - - - Total impaired loans $ 10,568 $ 10,863 $ 2,501 $ 10,346 $ 2 At March 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Total: (in thousands) Commercial and industrial $ 5,697 $ 6,057 $ 1,190 $ 5,483 $ 3 Residential real estate: Residential 4,377 4,820 28 5,169 17 Construction - - - - - Commercial real estate: Commercial 15,515 16,745 153 14,872 12 Construction 3,573 3,645 1,119 3,613 2 Home equities 1,619 1,842 11 1,828 2 Consumer and other - - - - - Total impaired loans $ 30,781 $ 33,109 $ 2,501 $ 30,965 $ 36 At December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: (in thousands) Commercial and industrial $ 1,706 $ 1,947 $ - $ 1,952 $ 8 Residential real estate: Residential 3,703 4,069 - 3,754 60 Construction - - - - - Commercial real estate: Commercial 12,210 12,840 - 12,397 209 Construction 1,295 1,352 - 1,315 - Home equities 1,515 1,741 - 1,565 23 Consumer and other - - - - - Total impaired loans $ 20,429 $ 21,949 $ - $ 20,983 $ 300 At December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With a related allowance recorded: (in thousands) Commercial and industrial $ 4,779 $ 4,993 $ 994 $ 4,938 $ 25 Residential real estate: Residential - - - - - Construction - - - - - Commercial real estate: Commercial 2,943 2,953 153 2,943 10 Construction 1,556 1,556 386 1,556 53 Home equities 109 109 11 109 1 Consumer and other 3 3 3 3 - Total impaired loans $ 9,390 $ 9,614 $ 1,547 $ 9,549 $ 89 At December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Total: (in thousands) Commercial and industrial $ 6,485 $ 6,940 $ 994 $ 6,890 $ 33 Residential real estate: Residential 3,703 4,069 - 3,754 60 Construction - - - - - Commercial real estate: Commercial 15,153 15,793 153 15,340 219 Construction 2,851 2,908 386 2,871 53 Home equities 1,624 1,850 11 1,674 24 Consumer and other 3 3 3 3 - Total impaired loans $ 29,819 $ 31,563 $ 1,547 $ 30,532 $ 389 |
Loans Classified As Troubled Debt Restructurings | March 31, 2021 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,472 $ 1,472 $ - $ 309 Residential real estate: Residential 1,652 637 1,015 - Construction - - - - Commercial real estate: Commercial and multi-family 3,367 2,880 487 - Construction - - - - Home equities 518 120 398 - Consumer and other - - - - Total TDR loans $ 7,009 $ 5,109 $ 1,900 $ 309 December 31, 2020 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,722 $ 1,722 $ - $ 370 Residential real estate: Residential 1,632 587 1,045 - Construction - - - - Commercial real estate: Commercial and multi-family 3,408 2,915 493 - Construction - - - - Home equities 552 124 428 - Consumer and other - - - - Total TDR loans $ 7,314 $ 5,348 $ 1,966 $ 370 |
TDR Activity By Type Of Concession Granted To Borrower | Three months ended March 31, 2021 Three months ended March 31, 2020 (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 - $ - $ - - $ - $ - Residential Real Estate & Construction: Combination of concessions - - - 1 56 56 Commercial Real Estate & Construction - - - - - - Home Equities - - - - - - Consumer and other loans - - - - - - Other - - - - - - |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Other Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | Balance at December 31, 2020 Net Change Balance at March 31, 2021 (in thousands) Net unrealized gain (loss) on investment securities $ 2,397 $ ( 3,889 ) $ ( 1,492 ) Net defined benefit pension plan adjustments ( 3,116 ) 76 ( 3,040 ) Total $ ( 719 ) $ ( 3,813 ) $ ( 4,532 ) Balance at December 31, 2019 Net Change Balance at March 31, 2020 (in thousands) Net unrealized gain on investment securities $ 522 $ 1,835 $ 2,357 Net defined benefit pension plan adjustments ( 3,105 ) 87 ( 3,018 ) Total $ ( 2,583 ) $ 1,922 $ ( 661 ) |
Components Of Other Comprehensive Income | Three months ended March 31, 2021 Three months ended March 31, 2020 (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 $ ( 5,253 ) $ 1,364 $ ( 3,889 ) $ 2,475 $ ( 640 ) $ 1,835 Defined benefit pension plan adjustments: Amortization of prior service cost 8 ( 2 ) 6 8 ( 3 ) 5 Amortization of actuarial loss 95 ( 25 ) 70 113 ( 31 ) 82 Net change 103 ( 27 ) 76 121 ( 34 ) 87 Other comprehensive (loss) income $ ( 5,150 ) $ 1,337 $ ( 3,813 ) $ 2,596 $ ( 674 ) $ 1,922 |
Net Periodic Benefit Costs (Tab
Net Periodic Benefit Costs (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Net Periodic Benefit Costs [Abstract] | |
Schedule Of Net Periodic Benefit Cost | Three months ended March 31, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2021 2020 2021 2020 Service cost $ - $ - $ 37 $ 39 Interest cost 41 50 25 38 Expected return on plan assets ( 89 ) ( 81 ) - - Amortization of prior service cost - - 8 8 Amortization of the net loss 24 25 71 88 Net periodic (benefit) cost $ ( 24 ) $ ( 6 ) $ 141 $ 173 |
Revenue Recognition Of Non-In_3
Revenue Recognition Of Non-Interest Income (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Schedule Of Disaggregation Of Insurance Service And Other Fees | Three months ended March 31, 2021 2020 (in thousands) Commercial property and casualty insurance commissions $ 797 $ 867 Personal property and casualty insurance commissions 740 754 Employee benefits sales commissions 244 379 Profit sharing and contingent revenue 402 206 Wealth management and other financial services 180 121 Insurance claims services revenue 81 55 Other insurance-related revenue 58 43 Total insurance service and other fees $ 2,502 $ 2,425 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Financial Instruments Measured At Fair Value On Recurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2021 Securities available-for-sale: US treasuries and government agencies $ - $ 72,696 $ - $ 72,696 States and political subdivisions - 7,294 - 7,294 Mortgage-backed securities - 110,348 - 110,348 Mortgage servicing rights - - 1,113 1,113 December 31, 2020 Securities available-for-sale: US treasuries and government agencies $ - $ 68,098 $ - $ 68,098 States and political subdivisions - 7,524 - 7,524 Mortgage-backed securities - 86,774 - 86,774 Mortgage servicing rights - - 917 917 |
Quantitative Information About Significant Unobservable Inputs For MSRs | March 31, 2021 December 31, 2020 Servicing fees 0.25 % 0.25 % Discount rate 9.03 % 9.04 % Prepayment rate (CPR) 8.12 % 9.73 % |
Financial Instruments Measured At Fair Value On Nonrecurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2021 Collateral dependent impaired loans $ - $ - $ 7,147 $ 7,147 December 31, 2020 Collateral dependent impaired loans $ - $ - $ 7,496 $ 7,496 |
Estimated Fair Values Of Financial Instruments | March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 116,220 $ 116,220 $ 97,604 $ 97,604 Level 2: Available for sale securities 190,338 190,338 162,396 162,396 FHLB and FRB stock 6,333 N/A 5,793 N/A Level 3: Held to maturity securities 4,674 4,697 4,204 4,271 Loans, net 1,726,527 1,754,522 1,673,379 1,720,878 Mortgage servicing rights 1,113 1,113 917 917 Financial liabilities: Level 1: Demand deposits $ 486,386 $ 486,386 $ 436,157 $ 436,157 NOW deposits 238,769 238,769 230,751 230,751 Savings deposits 924,781 924,781 825,947 825,947 Level 2: Securities sold under agreement to repurchase 5,682 5,682 4,093 4,093 Other borrowed funds 41,699 42,151 44,698 45,547 Subordinated debt 30,897 31,393 30,872 31,394 Level 3: Time deposits 222,002 223,015 278,554 280,059 |
Mortgage Servicing Rights [Member] | |
Summary Of Changes In Fair Value At Level 3 | Three months ended March 31, (in thousands) 2021 2020 Mortgage servicing rights - January 1 $ 917 $ 555 Gains/(Losses) included in earnings 196 ( 103 ) Additions from loan sales - 33 Mortgage servicing rights - March 31 $ 1,113 $ 485 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Segment Information [Abstract] | |
Schedule Of Business Segments | Three months ended March 31, 2021 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 16,600 $ ( 3 ) $ 16,597 Provision for loan losses 313 - 313 Net interest income (expense) after provision for loan losses 16,287 ( 3 ) 16,284 Insurance service and fees 164 2,338 2,502 Other non-interest income 2,064 - 2,064 Amortization expense 5 130 135 Other non-interest expense 12,213 2,017 14,230 Income before income taxes 6,297 188 6,485 Income tax provision 1,584 49 1,633 Net income $ 4,713 $ 139 $ 4,852 Three months ended March 31, 2020 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 12,779 $ ( 3 ) $ 12,776 Provision for loan losses 2,999 - 2,999 Net interest income (expense) after provision for loan losses 9,780 ( 3 ) 9,777 Insurance service and fees 113 2,312 2,425 Other non-interest income 913 - 913 Amortization expense - 130 130 Other non-interest expense 10,720 2,020 12,740 Income before income taxes 86 159 245 Income tax provision - 41 41 Net income $ 86 $ 118 $ 204 |
Contingent Liabilities And Co_2
Contingent Liabilities And Commitments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Contingent Liabilities And Commitments [Abstract] | |
Summary Of Commitments And Contingent Liabilities | March 31, December 31, 2021 2020 (in thousands) Commitments to extend credit $ 372,744 $ 359,152 Standby letters of credit 4,248 3,803 Total $ 376,992 $ 362,955 |
Organization And Summary Of S_3
Organization And Summary Of Significant Accounting Policies (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2021entity | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Number of subsidiaries | 2 |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) $ in Thousands | May 01, 2020USD ($)itemshares | Apr. 30, 2020USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) |
Business Acquisition [Line Items] | ||||
Paid in cash | $ 683 | |||
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] | ||||
Number of operated banking offices | item | 5 | |||
FSB [Member] | ||||
Business Acquisition [Line Items] | ||||
Paid in cash | $ 17,100 | |||
Fair value of shares issued | $ 11,700 | |||
Merger-related expenses | $ 0 | $ 500 | ||
FSB [Member] | Evans Common Stock [Member] | ||||
Business Acquisition [Line Items] | ||||
Shares issued of common stock | shares | 422,475 | |||
As Recorded By FSB [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets | $ 321,712 | |||
Net loans receivable | 272,100 | |||
Securities | 21,371 | |||
Total liabilities | 293,059 | |||
Deposits | 237,688 | |||
Borrowings | 50,597 | |||
As Recorded At Acquisition [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets | 323,164 | |||
Securities | 21,477 | |||
Total liabilities | 296,076 | |||
Deposits | 239,173 | |||
Borrowings | 52,526 | |||
Goodwill, Acquisition | 1,800 | |||
As Recorded At Acquisition [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 | Mar. 31, 2021 | Dec. 31, 2020 | May 01, 2020 |
Business Acquisition [Line Items] | |||
Operating lease right-of-use asset | $ 5,058 | $ 5,282 | |
Operating lease liability | 5,463 | 5,694 | |
Goodwill recorded in merger | $ 12,713 | $ 12,713 | |
As Recorded By FSB [Member] | |||
Business Acquisition [Line Items] | |||
Cash and due from banks | $ 1,978 | ||
Interest-bearing deposit at banks | 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 | 106 | ||
Loans receivable | (2,484) | ||
Allowance for loan losses | 1,706 | ||
Premises and equipment | (56) | ||
Intangible assets | 166 | ||
Operating lease right-of-use asset | 374 | ||
Other assets | 1,640 | ||
Total assets acquired | 1,452 | ||
Deposits | 1,485 | ||
Other borrowed funds | 1,929 | ||
Operating lease liability | 176 | ||
Other liabilities | (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 banks | 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 |
Acquisitions (Schedule Of Selec
Acquisitions (Schedule Of Selected Pro Forma Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Business Acquisition [Line Items] | ||
Net interest income after provision | $ 17,970 | $ 15,823 |
Non-interest income | 4,566 | 3,338 |
Non-interest expense | 14,365 | 12,870 |
Net income | $ 4,852 | 204 |
FSB [Member] | ||
Business Acquisition [Line Items] | ||
Net interest income after provision | 12,000 | |
Non-interest income | 3,751 | |
Non-interest expense | 14,944 | |
Net income | $ 620 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available for sale securities pledged as collateral | $ 164,000 | $ 135,000 | |
Gross realized gains (losses) from sales of investment securities | 0 | $ 0 | |
Other-than-temporary impairment charges | $ 0 | $ 0 | |
Minimum [Member] | Mortgage Backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Contractual maturities duration | 10 years |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Approximate Fair Value Of Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | $ 192,352 | $ 159,157 |
Available for Sale, Unrealized Gains | 2,193 | 3,583 |
Available for Sale, Unrealized Losses | (4,207) | (344) |
Available for Sale, Fair Value | 190,338 | 162,396 |
Held to maturity, Amortized cost | 4,674 | 4,204 |
Held to Maturity, Unrealized Gains | 30 | 67 |
Held to Maturity, Unrealized Losses | (7) | |
Held to Maturity, Fair Value | 4,697 | 4,271 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 82,388 | 74,981 |
Available for Sale, Unrealized Gains | 551 | 900 |
Available for Sale, Unrealized Losses | (2,949) | (259) |
Available for Sale, Fair Value | 79,990 | 75,622 |
US Treasuries And Government Agencies [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 75,224 | 67,619 |
Available for Sale, Unrealized Gains | 418 | 731 |
Available for Sale, Unrealized Losses | (2,946) | (252) |
Available for Sale, Fair Value | 72,696 | 68,098 |
Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 109,964 | 84,176 |
Available for Sale, Unrealized Gains | 1,642 | 2,683 |
Available for Sale, Unrealized Losses | (1,258) | (85) |
Available for Sale, Fair Value | 110,348 | 86,774 |
Mortgage Backed Securities [Member] | FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 38,045 | 24,265 |
Available for Sale, Unrealized Gains | 533 | 654 |
Available for Sale, Unrealized Losses | (508) | (50) |
Available for Sale, Fair Value | 38,070 | 24,869 |
Mortgage Backed Securities [Member] | FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 7,443 | 3,739 |
Available for Sale, Unrealized Gains | 97 | 111 |
Available for Sale, Unrealized Losses | (145) | (1) |
Available for Sale, Fair Value | 7,395 | 3,849 |
Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 5,726 | 2,006 |
Available for Sale, Unrealized Gains | 45 | 58 |
Available for Sale, Unrealized Losses | (60) | (1) |
Available for Sale, Fair Value | 5,711 | 2,063 |
Mortgage Backed Securities [Member] | SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 20,197 | 20,949 |
Available for Sale, Unrealized Gains | 411 | 914 |
Available for Sale, Unrealized Losses | (98) | (33) |
Available for Sale, Fair Value | 20,510 | 21,830 |
Mortgage Backed Securities [Member] | CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 38,553 | 33,217 |
Available for Sale, Unrealized Gains | 556 | 946 |
Available for Sale, Unrealized Losses | (447) | |
Available for Sale, Fair Value | 38,662 | 34,163 |
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 | 7,164 | 7,362 |
Available for Sale, Unrealized Gains | 133 | 169 |
Available for Sale, Unrealized Losses | (3) | (7) |
Available for Sale, Fair Value | 7,294 | 7,524 |
Held to maturity, Amortized cost | 4,674 | 4,204 |
Held to Maturity, Unrealized Gains | 30 | 67 |
Held to Maturity, Unrealized Losses | (7) | |
Held to Maturity, Fair Value | $ 4,697 | $ 4,271 |
Securities (Scheduled Maturitie
Securities (Scheduled Maturities Of Debt And Mortgage-Backed Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Securities [Abstract] | ||
Debt securities available for sale, Due in one year or less, Amortized cost | $ 1,779 | |
Debt securities available for sale, Due after one year through five years, Amortized cost | 7,995 | |
Debt securities available for sale, Due after five years through ten years, Amortized cost | 35,125 | |
Debt securities available for sale, Due after ten years, Amortized cost | 37,489 | |
Debt securities available for sale, Amortized cost | 82,388 | |
Mortgage-backed securities available for sale, Amortized cost | 109,964 | |
Total securities designated as available for sale, Amortized Cost | 192,352 | $ 159,157 |
Debt securities available for sale, Due in one year or less, Estimated fair value | 1,781 | |
Debt securities available for sale, Due after one year through five years, Estimated fair value | 8,163 | |
Debt securities available for sale, Due after five years through ten years, Estimated fair value | 35,104 | |
Debt securities available for sale, Due after ten years, Estimated fair value | 34,942 | |
Debt securities available for sale, Estimated fair value | 79,990 | |
Mortgage-backed securities available for sale, Estimated fair value | 110,348 | |
Total securities available for sale, Estimated fair value | 190,338 | 162,396 |
Debt securities held to maturity, Due in one year or less, Amortized cost | 3,738 | |
Debt securities held to maturity, Due after one year through five years, Amortized cost | 448 | |
Debt securities held to maturity, Due after five years through ten years, Amortized cost | 45 | |
Debt securities held to maturity, Due after ten years, Amortized cost | 443 | |
Held to maturity, Amortized cost | 4,674 | 4,204 |
Debt securities held to maturity, Due in one year or less, Estimated fair value | 3,741 | |
Debt securites held to maturity, Due after one year through five years, Estimated fair value | 471 | |
Debt securites held to maturity, Due after five years through ten years, Estimated fair value | 47 | |
Debt securities held to maturity, Due after ten years, Estimated fair value | 438 | |
Held to maturity, Estimated fair value | $ 4,697 | $ 4,271 |
Securities (Unrealized Losses O
Securities (Unrealized Losses On Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired securities, Less than 12 months, Fair Value | $ 98,644 | $ 37,819 |
Total temporarily impaired securities, 12 months or longer, Fair Value | 1,404 | 2,963 |
Total temporarily impaired securities, Total, Fair Value | 100,048 | 40,782 |
Total temporarily impaired securities, Less than 12 months, Unrealized Losses | (4,180) | (294) |
Total temporarily impaired securities, 12 months or longer, Unrealized Losses | (34) | (50) |
Total temporarily impaired securities, Total, Unrealized Losses | (4,214) | (344) |
Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 47,398 | 3,811 |
Available for Sale, 12 months or longer, Fair Value | 1,404 | 2,783 |
Available for Sale, Total, Fair Value | 48,802 | 6,594 |
Available for Sale, Less than 12 months, Unrealized Losses | (1,224) | (41) |
Available for Sale, 12 months or longer, Unrealized Losses | (34) | (44) |
Available for Sale, Total, Unrealized Losses | (1,258) | (85) |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 50,885 | 34,008 |
Available for Sale, 12 months or longer, Fair Value | 180 | |
Available for Sale, Total, Fair Value | 50,885 | 34,188 |
Available for Sale, Less than 12 months, Unrealized Losses | (2,949) | (253) |
Available for Sale, 12 months or longer, Unrealized Losses | (6) | |
Available for Sale, Total, Unrealized Losses | (2,949) | (259) |
Debt Securities [Member] | US Treasuries And Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 50,680 | 33,801 |
Available for Sale, Total, Fair Value | 50,680 | 33,801 |
Available for Sale, Less than 12 months, Unrealized Losses | (2,946) | (252) |
Available for Sale, Total, Unrealized Losses | (2,946) | (252) |
Debt Securities [Member] | States And Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 205 | 207 |
Available for Sale, 12 months or longer, Fair Value | 180 | |
Available for Sale, Total, Fair Value | 205 | 387 |
Available for Sale, Less than 12 months, Unrealized Losses | (3) | (1) |
Available for Sale, 12 months or longer, Unrealized Losses | (6) | |
Available for Sale, Total, Unrealized Losses | (3) | (7) |
Held To Maturity, Less than 12 months, Fair Value | 361 | |
Held To Maturity, Total, Fair Value | 361 | |
Held To Maturity, Less than 12 months, Unrealized Losses | (7) | |
Held To Maturity, Total, Unrealized Losses | (7) | |
FNMA [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 20,847 | 3,354 |
Available for Sale, 12 months or longer, Fair Value | 27 | 1,391 |
Available for Sale, Total, Fair Value | 20,874 | 4,745 |
Available for Sale, Less than 12 months, Unrealized Losses | (507) | (39) |
Available for Sale, 12 months or longer, Unrealized Losses | (1) | (11) |
Available for Sale, Total, Unrealized Losses | (508) | (50) |
FHLMC [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 4,045 | 182 |
Available for Sale, Total, Fair Value | 4,045 | 182 |
Available for Sale, Less than 12 months, Unrealized Losses | (145) | (1) |
Available for Sale, Total, Unrealized Losses | (145) | (1) |
GNMA [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 4,083 | 154 |
Available for Sale, Total, Fair Value | 4,083 | 154 |
Available for Sale, Less than 12 months, Unrealized Losses | (60) | (1) |
Available for Sale, Total, Unrealized Losses | (60) | (1) |
SBA [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 4,257 | |
Available for Sale, 12 months or longer, Fair Value | 1,377 | 1,392 |
Available for Sale, Total, Fair Value | 5,634 | 1,392 |
Available for Sale, Less than 12 months, Unrealized Losses | (65) | |
Available for Sale, 12 months or longer, Unrealized Losses | (33) | (33) |
Available for Sale, Total, Unrealized Losses | (98) | (33) |
CMO [Member] | Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 14,166 | 121 |
Available for Sale, Total, Fair Value | 14,166 | $ 121 |
Available for Sale, Less than 12 months, Unrealized Losses | (447) | |
Available for Sale, Total, Unrealized Losses | $ (447) |
Loans And The Allowance For L_3
Loans And The Allowance For Loan Losses (Narrative) (Details) $ in Millions | 3 Months Ended | ||
Mar. 31, 2021USD ($)loan | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fees collected | $ 4.1 | ||
PPP fees recognized interest income | 1.7 | ||
Outstanding principal balance | 0.8 | $ 0.9 | |
Acquired credit-impaired loans | 0.8 | ||
Hotel loan portfolio | $ 82 | ||
Total percentage of hotel loan in total commercial loans | 6.30% | ||
Total criticized assets increase | $ 154 | 140 | |
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% | ||
Deferred payment period | 10 months | ||
Paycheck Protection Program Loans, total | $ 55 | ||
Fees collected | $ 11.5 | ||
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 | ||
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 | ||
Commercial And Industrial [Member] | PPP Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Paycheck Protection Program Loans, total | $ 292 | ||
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 | ||
FHLBNY [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans pledged as collateral | 643 | 630 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan servicing portfolio principal balance | 158 | 171 | |
Mortgage servicing rights | 1.1 | 0.9 | |
Mortgage loans held-for-sale | 0 | $ 0.8 | |
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 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | FNMA Loans [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Mortgage loans sold | $ 3.7 | ||
Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Valuation allowances, acquired credit-impaired loans | $ 0.1 |
Loans And The Allowance For L_4
Loans And The Allowance For Loan Losses (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | $ 1,754,712 | $ 1,698,798 | |
Unaccreted yield adjustments | (7,484) | (5,004) | |
Total gross loans | 1,747,228 | 1,693,794 | |
Allowance for loan losses | (20,701) | (20,415) | |
Loans, net | 1,726,527 | 1,673,379 | |
PPP Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unaccreted yield adjustments | (6,900) | (4,600) | |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 450,961 | 430,350 | |
Consumer And Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 678 | 151 | |
Total Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unaccreted yield adjustments | (7,500) | $ (5,000) | |
Total Real Estate Loans [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 1,303,073 | 1,268,297 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 380,885 | 372,860 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 375,253 | 365,351 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 5,632 | 7,509 | |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 839,738 | 812,835 | |
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 | 721,658 | 706,276 | |
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 | 118,080 | 106,559 | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 82,450 | 82,602 | |
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 | $ 82,450 | $ 82,602 |
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 | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 1,754,712 | $ 1,698,798 |
Total Real Estate Loans [Member] | Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,303,073 | 1,268,297 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 839,738 | 812,835 |
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 | 439,621 | 376,874 |
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 | 271,438 | 317,279 |
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 | 28,103 | 19,697 |
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 | 100,576 | 98,985 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | ||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 118,080 | 106,559 |
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 | 69,738 | 59,020 |
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 | 16,541 | 17,218 |
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 | 2,842 | 2,041 |
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 | 28,959 | 28,280 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | ||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 721,658 | 706,276 |
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 | 369,883 | 317,854 |
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 | 254,897 | 300,061 |
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 | 25,261 | 17,656 |
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 | 71,617 | 70,705 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | ||
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 450,961 | 430,350 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 352,836 | 314,322 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 72,927 | 95,117 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 12,261 | 6,555 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 12,937 | 14,356 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans |
Loans And The Allowance For L_6
Loans And The Allowance For Loan Losses (Recorded Investment In Loans Past Due) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | $ 1,679,414 | $ 1,625,664 | |
Non-accruing Loans | 28,962 | 27,884 | |
Total Balance | 1,754,712 | 1,698,798 | |
Unaccreted yield adjustments | (7,484) | (5,004) | |
30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 46,086 | 34,786 | |
60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 132 | 10,230 | |
90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 118 | 234 | |
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 435,191 | 419,409 | |
Non-accruing Loans | 5,697 | 6,485 | |
Total Balance | 450,961 | 430,350 | |
Commercial And Industrial [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 10,021 | 4,240 | |
Commercial And Industrial [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 52 | 122 | |
Commercial And Industrial [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 94 | ||
Consumer And Other Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 656 | 111 | |
Non-accruing Loans | 3 | ||
Total Balance | 678 | 151 | |
Consumer And Other Loans [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 15 | 6 | |
Consumer And Other Loans [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 6 | 14 | |
Consumer And Other Loans [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1 | 17 | |
Total Real Estate Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Unaccreted yield adjustments | (7,500) | $ (5,000) | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Balance | 380,885 | 372,860 | |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Balance | 839,738 | 812,835 | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 80,895 | 80,044 | |
Non-accruing Loans | 1,221 | 1,196 | |
Total Balance | 82,450 | 82,602 | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 260 | 744 | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 74 | 604 | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 14 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Balance | 1,303,073 | 1,268,297 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 367,490 | 357,135 | |
Non-accruing Loans | 3,443 | 2,689 | |
Total Balance | 375,253 | 365,351 | |
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 | 4,320 | 4,156 | |
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 | 1,262 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 109 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 681,899 | 667,426 | |
Non-accruing Loans | 15,028 | 14,660 | |
Total Balance | 721,658 | 706,276 | |
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 | 24,614 | 20,024 | |
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 | 4,166 | ||
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 | 117 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Home Equity Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Balance | 82,450 | 82,602 | |
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 5,278 | 7,509 | |
Total Balance | 5,632 | 7,509 | |
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 354 | ||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 108,005 | 94,030 | |
Non-accruing Loans | 3,573 | 2,851 | |
Total Balance | 118,080 | 106,559 | |
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 | $ 6,502 | 5,616 | |
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 | $ 4,062 |
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 | ||||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | $ 20,415 | $ 15,175 | |||
Allowance for loan losses: Charge-offs | (60) | (65) | |||
Allowance for loan losses: Recoveries | 33 | 48 | |||
Allowance for loan losses: Provision(Credit) | 313 | 2,999 | |||
Allowance for loan losses: Ending balance | 20,701 | 18,157 | |||
Allowance for loan losses: Loans acquired with deteriorated credit quality | $ 28 | ||||
Allowance for loan losses: Individually evaluated for impairment | 2,473 | 1,547 | |||
Allowance for loan losses: Collectively evaluated for impairment | 18,200 | 18,868 | |||
Allowance for loan losses: Total | 20,701 | 18,157 | 20,701 | 20,415 | $ 18,157 |
Loans: Loans acquired with deteriorated credit quality | 839 | 860 | |||
Loans: Individually evaluated for impairment | 30,024 | 28,990 | |||
Loans: Collectively evaluated for impairment | 1,723,849 | 1,668,948 | |||
Total | 1,754,712 | 1,698,798 | |||
Unaccreted yield adjustments | (7,484) | (5,004) | |||
Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unaccreted yield adjustments | (7,500) | (5,000) | |||
Commercial And Industrial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 4,882 | ||||
Allowance for loan losses: Ending balance | 4,390 | ||||
Allowance for loan losses: Loans acquired with deteriorated credit quality | |||||
Allowance for loan losses: Individually evaluated for impairment | 1,190 | 994 | |||
Allowance for loan losses: Collectively evaluated for impairment | 3,200 | 3,888 | |||
Allowance for loan losses: Total | 4,882 | 4,390 | 4,882 | ||
Loans: Loans acquired with deteriorated credit quality | |||||
Loans: Individually evaluated for impairment | 5,697 | 6,485 | |||
Loans: Collectively evaluated for impairment | 445,264 | 423,865 | |||
Total | 450,961 | 430,350 | |||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 4,882 | 4,547 | |||
Allowance for loan losses: Charge-offs | (17) | ||||
Allowance for loan losses: Recoveries | 21 | 32 | |||
Allowance for loan losses: Provision(Credit) | (513) | 1,013 | |||
Allowance for loan losses: Ending balance | 4,390 | 5,575 | |||
Allowance for loan losses: Total | 4,390 | 5,575 | 4,390 | 4,882 | 5,575 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 13,249 | 9,005 | |||
Allowance for loan losses: Charge-offs | |||||
Allowance for loan losses: Recoveries | |||||
Allowance for loan losses: Provision(Credit) | 819 | 1,583 | |||
Allowance for loan losses: Ending balance | 14,068 | 10,588 | |||
Allowance for loan losses: Loans acquired with deteriorated credit quality | |||||
Allowance for loan losses: Individually evaluated for impairment | 1,272 | 539 | |||
Allowance for loan losses: Collectively evaluated for impairment | 12,796 | 12,710 | |||
Allowance for loan losses: Total | 14,068 | 10,588 | 14,068 | 13,249 | 10,588 |
Loans: Loans acquired with deteriorated credit quality | |||||
Loans: Individually evaluated for impairment | 19,088 | 18,004 | |||
Loans: Collectively evaluated for impairment | 820,650 | 794,831 | |||
Total | 839,738 | 812,835 | |||
Consumer And Other Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 45 | 155 | |||
Allowance for loan losses: Charge-offs | (60) | (15) | |||
Allowance for loan losses: Recoveries | 12 | 16 | |||
Allowance for loan losses: Provision(Credit) | 60 | (65) | |||
Allowance for loan losses: Ending balance | 57 | 91 | |||
Allowance for loan losses: Loans acquired with deteriorated credit quality | |||||
Allowance for loan losses: Individually evaluated for impairment | 3 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 57 | 42 | |||
Allowance for loan losses: Total | 57 | 91 | 57 | 45 | 91 |
Loans: Loans acquired with deteriorated credit quality | |||||
Loans: Individually evaluated for impairment | 3 | ||||
Loans: Collectively evaluated for impairment | 678 | 148 | |||
Total | 678 | 151 | |||
Residential Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 1,658 | 1,071 | |||
Allowance for loan losses: Charge-offs | (29) | ||||
Allowance for loan losses: Recoveries | |||||
Allowance for loan losses: Provision(Credit) | 51 | 376 | |||
Allowance for loan losses: Ending balance | 1,709 | 1,418 | |||
Allowance for loan losses: Loans acquired with deteriorated credit quality | 28 | ||||
Allowance for loan losses: Individually evaluated for impairment | |||||
Allowance for loan losses: Collectively evaluated for impairment | 1,681 | 1,658 | |||
Allowance for loan losses: Total | 1,709 | 1,418 | 1,709 | 1,658 | 1,418 |
Loans: Loans acquired with deteriorated credit quality | 839 | 860 | |||
Loans: Individually evaluated for impairment | 3,620 | 2,874 | |||
Loans: Collectively evaluated for impairment | 376,426 | 369,126 | |||
Total | 380,885 | 372,860 | |||
Home Equity Loans [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 581 | 397 | |||
Allowance for loan losses: Charge-offs | (4) | ||||
Allowance for loan losses: Recoveries | |||||
Allowance for loan losses: Provision(Credit) | (104) | 92 | |||
Allowance for loan losses: Ending balance | 477 | 485 | |||
Allowance for loan losses: Loans acquired with deteriorated credit quality | |||||
Allowance for loan losses: Individually evaluated for impairment | 11 | 11 | |||
Allowance for loan losses: Collectively evaluated for impairment | 466 | 570 | |||
Allowance for loan losses: Total | $ 477 | $ 485 | 477 | 581 | $ 485 |
Loans: Loans acquired with deteriorated credit quality | |||||
Loans: Individually evaluated for impairment | 1,619 | 1,624 | |||
Loans: Collectively evaluated for impairment | 80,831 | 80,978 | |||
Total | $ 82,450 | $ 82,602 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | $ 20,213 | $ 20,429 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 10,568 | 9,390 |
Impaired Loans, Recorded Investment, Total | 30,781 | 29,819 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 22,246 | 21,949 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 10,863 | 9,614 |
Impaired Loans, Unpaid Principal Balance, Total | 33,109 | 31,563 |
Impaired Loans, Related Allowance | 2,501 | 1,547 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 20,619 | 20,983 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 10,346 | 9,549 |
Impaired Loans, Average Recorded Investment, Total | 30,965 | 30,532 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 34 | 300 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 2 | 89 |
Impaired Loans, Interest Income Recognized, Total | 36 | 389 |
Commercial And Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 1,234 | 1,706 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 4,463 | 4,779 |
Impaired Loans, Recorded Investment, Total | 5,697 | 6,485 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,402 | 1,947 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 4,655 | 4,993 |
Impaired Loans, Unpaid Principal Balance, Total | 6,057 | 6,940 |
Impaired Loans, Related Allowance | 1,190 | 994 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,344 | 1,952 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 4,139 | 4,938 |
Impaired Loans, Average Recorded Investment, Total | 5,483 | 6,890 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 3 | 8 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 25 | |
Impaired Loans, Interest Income Recognized, Total | 3 | 33 |
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 | 3 | |
Impaired Loans, Recorded Investment, Total | 3 | |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 3 | |
Impaired Loans, Unpaid Principal Balance, Total | 3 | |
Impaired Loans, Related Allowance | 3 | |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 3 | |
Impaired Loans, Average Recorded Investment, Total | 3 | |
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] | Residential Mortgages [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 3,613 | 3,703 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 764 | |
Impaired Loans, Recorded Investment, Total | 4,377 | 3,703 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 3,967 | 4,069 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 853 | |
Impaired Loans, Unpaid Principal Balance, Total | 4,820 | 4,069 |
Impaired Loans, Related Allowance | 28 | |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 4,542 | 3,754 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 627 | |
Impaired Loans, Average Recorded Investment, Total | 5,169 | 3,754 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 17 | 60 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | ||
Impaired Loans, Interest Income Recognized, Total | 17 | 60 |
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 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 | 12,572 | 12,210 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 2,943 | 2,943 |
Impaired Loans, Recorded Investment, Total | 15,515 | 15,153 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 13,792 | 12,840 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 2,953 | 2,953 |
Impaired Loans, Unpaid Principal Balance, Total | 16,745 | 15,793 |
Impaired Loans, Related Allowance | 153 | 153 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 11,929 | 12,397 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 2,943 | 2,943 |
Impaired Loans, Average Recorded Investment, Total | 14,872 | 15,340 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 12 | 209 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 10 | |
Impaired Loans, Interest Income Recognized, Total | 12 | 219 |
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 | 1,284 | 1,295 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 2,289 | 1,556 |
Impaired Loans, Recorded Investment, Total | 3,573 | 2,851 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,352 | 1,352 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 2,293 | 1,556 |
Impaired Loans, Unpaid Principal Balance, Total | 3,645 | 2,908 |
Impaired Loans, Related Allowance | 1,119 | 386 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,085 | 1,315 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 2,528 | 1,556 |
Impaired Loans, Average Recorded Investment, Total | 3,613 | 2,871 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | ||
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 2 | 53 |
Impaired Loans, Interest Income Recognized, Total | 2 | 53 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 1,510 | 1,515 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 109 | 109 |
Impaired Loans, Recorded Investment, Total | 1,619 | 1,624 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,733 | 1,741 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 109 | 109 |
Impaired Loans, Unpaid Principal Balance, Total | 1,842 | 1,850 |
Impaired Loans, Related Allowance | 11 | 11 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,719 | 1,565 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 109 | 109 |
Impaired Loans, Average Recorded Investment, Total | 1,828 | 1,674 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 2 | 23 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 1 | |
Impaired Loans, Interest Income Recognized, Total | $ 2 | $ 24 |
Loans And The Allowance For L_9
Loans And The Allowance For Loan Losses (Loans Classified As Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Modifications [Line Items] | ||
Total | $ 7,009 | $ 7,314 |
Related Allowance | 309 | 370 |
Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,472 | 1,722 |
Related Allowance | 309 | 370 |
Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Related Allowance | ||
Nonaccruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 5,109 | 5,348 |
Nonaccruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,472 | 1,722 |
Nonaccruing [Member] | Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,900 | 1,966 |
Accruing [Member] | Consumer And Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 518 | 552 |
Related Allowance | ||
Total Real Estate Loans [Member] | Nonaccruing [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 120 | 124 |
Total Real Estate Loans [Member] | Accruing [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 398 | 428 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,652 | 1,632 |
Related Allowance | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 3,367 | 3,408 |
Related Allowance | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 637 | 587 |
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 2,880 | 2,915 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,015 | 1,045 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 487 | 493 |
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) - Residential Mortgages [Member] - Total Real Estate Loans [Member] - Combination Of Concessions [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($)contract | |
Financing Receivable, Modifications [Line Items] | |
Number of Contracts | contract | 1 |
Pre-Modification Outstanding Recorded Investment | $ 56 |
Post-Modification Outstanding Recorded Investment | $ 56 |
Common Equity And Earnings Pe_2
Common Equity And Earnings Per Share Data (Narrative) (Details) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Common Equity And Earnings Per Share Data [Abstract] | ||
Weighted average number of shares outstanding, dilutive | 41,837 | 55,267 |
Potentially anti-dilutive shares outstanding | 81,770 | 81,770 |
Other Comprehensive Income (Sch
Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | $ (719) | $ (2,583) |
Net Change | (3,813) | 1,922 |
Ending Balance | (4,532) | (661) |
Net Unrealized Gain (Loss) On Investment Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 2,397 | 522 |
Net Change | (3,889) | 1,835 |
Ending Balance | (1,492) | 2,357 |
Net Defined Benefit Pension Plan Adjustments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (3,116) | (3,105) |
Net Change | 76 | 87 |
Ending Balance | $ (3,040) | $ (3,018) |
Other Comprehensive Income (Com
Other Comprehensive Income (Components Of Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Unrealized (loss) gain on investment securities: | ||
Unrealized (loss) gain on investment securities, Before-Tax Amount | $ (5,253) | $ 2,475 |
Unrealized (loss) gain on investment securities, Income Tax (Provision) Benefit | 1,364 | (640) |
Unrealized (loss) gain on investment securities, Net-of-Tax Amount | (3,889) | 1,835 |
Defined benefit pension plan adjustments: | ||
Amortization of prior service cost, Before-Tax Amount | 8 | 8 |
Amortization of prior service cost, Income Tax (Provision) Benefit | (2) | (3) |
Amortization of prior service cost, Net-of-Tax Amount | 6 | 5 |
Amortization of actuarial loss, Before-Tax Amount | 95 | 113 |
Amortization of actuarial loss, Income Tax (Provision) Benefit | (25) | (31) |
Amortization of actuarial loss, Net-of-Tax Amount | 70 | 82 |
Net change, Before-Tax Amount | 103 | 121 |
Net change, Income Tax (Provision) Benefit | (27) | (34) |
Total, Net-of-Tax | 76 | 87 |
Other comprehensive (loss) income, Before-Tax Amount | (5,150) | 2,596 |
Other comprehensive (loss) income, Income Tax (Provision) Benefit | 1,337 | (674) |
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX | $ (3,813) | $ 1,922 |
Net Periodic Benefit Costs (Sch
Net Periodic Benefit Costs (Schedule Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Pension [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | $ 41 | $ 50 |
Expected return on plan assets | (89) | (81) |
Amortization of the net loss | 24 | 25 |
Net periodic (benefit) cost | (24) | (6) |
Supplemental Executive Retirement Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 37 | 39 |
Interest cost | 25 | 38 |
Amortization of prior service cost | 8 | 8 |
Amortization of the net loss | 71 | 88 |
Net periodic (benefit) cost | $ 141 | $ 173 |
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 | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | $ 2,502 | $ 2,425 |
Commercial Property And Casualty Insurance Commissions [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | 797 | 867 |
Personal Property And Casualty Insurance Commissions [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | 740 | 754 |
Employee Benefits Sales Commissions [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | 244 | 379 |
Profit Sharing And Contingent Revenue [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | 402 | 206 |
Wealth Management And Other Financial Services [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | 180 | 121 |
Insurance Claims Services Revenue [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | 81 | 55 |
Other Insurance-Related Revenue [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total insurance service and other fees | $ 58 | $ 43 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans, allowance for loan loss | $ 2,501 | $ 1,547 |
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 | $ 9,500 | 8,800 |
Impaired loans, allowance for loan loss | $ 2,400 | $ 1,300 |
Fair Value Measurement (Financi
Fair Value Measurement (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 190,338 | $ 162,396 |
Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 1,113 | 917 |
Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 1,113 | 917 |
Recurring [Member] | US Treasuries And Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 72,696 | 68,098 |
Recurring [Member] | US Treasuries And Government Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 72,696 | 68,098 |
Recurring [Member] | States And Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 7,294 | 7,524 |
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 | 7,294 | 7,524 |
Recurring [Member] | Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 110,348 | 86,774 |
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 | $ 110,348 | $ 86,774 |
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 | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Mortgage servicing rights, beginning | $ 917 | $ 555 |
Gains/(Losses) included in earnings | 196 | (103) |
Additions from loan sales | 33 | |
Mortgage servicing rights, ending | $ 1,113 | $ 485 |
Fair Value Measurement (Quantit
Fair Value Measurement (Quantitative Information About Significant Unobservable Inputs For MSRs) (Details) - Mortgage Servicing Rights [Member] - Level 3 [Member] | Mar. 31, 2021 | Dec. 31, 2020 |
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) | 9.03 | 9.04 |
Prepayment Rate (CPR) [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair value measurement of unobservable input (as a percent) | 8.12 | 9.73 |
Fair Value Measurement (Finan_2
Fair Value Measurement (Financial Instruments Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 7,147 | $ 7,496 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 7,147 | $ 7,496 |
Fair Value Measurement (Estimat
Fair Value Measurement (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | $ 190,338 | $ 162,396 |
Held to maturity securities | 4,697 | 4,271 |
Demand deposits | 486,386 | 436,157 |
NOW deposits | 238,769 | 230,751 |
Savings deposits | 924,781 | 825,947 |
Time deposits | 222,002 | 278,554 |
Carrying Amount [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 116,220 | 97,604 |
Demand deposits | 486,386 | 436,157 |
NOW deposits | 238,769 | 230,751 |
Savings deposits | 924,781 | 825,947 |
Carrying Amount [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 190,338 | 162,396 |
FHLB and FRB stock | 6,333 | 5,793 |
Securities sold under agreement to repurchase | 5,682 | 4,093 |
Other borrowed funds | 41,699 | 44,698 |
Subordinated debt | 30,897 | 30,872 |
Carrying Amount [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 4,674 | 4,204 |
Loans, net | 1,726,527 | 1,673,379 |
Mortgage servicing rights | 1,113 | 917 |
Time deposits | 222,002 | 278,554 |
Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 116,220 | 97,604 |
Demand deposits | 486,386 | 436,157 |
NOW deposits | 238,769 | 230,751 |
Savings deposits | 924,781 | 825,947 |
Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 190,338 | 162,396 |
FHLB and FRB stock | ||
Securities sold under agreement to repurchase | 5,682 | 4,093 |
Other borrowed funds | 42,151 | 45,547 |
Subordinated debt | 31,393 | 31,394 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 4,697 | 4,271 |
Loans, net | 1,754,522 | 1,720,878 |
Mortgage servicing rights | 1,113 | 917 |
Time deposits | $ 223,015 | $ 280,059 |
Segment Information (Details)
Segment Information (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021USD ($)segment | Mar. 31, 2020USD ($) | |
Number of primary business segments | segment | 2 | |
Net interest income (expense) | $ 16,597 | $ 12,776 |
Provision for loan losses | 313 | 2,999 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 16,284 | 9,777 |
Insurance service and fees | 2,502 | 2,425 |
Other non-interest income | 4,566 | 3,338 |
Amortization expense | 135 | 130 |
Other non-interest expense | 14,365 | 12,870 |
INCOME BEFORE INCOME TAXES | 6,485 | 245 |
Income tax provision | 1,633 | 41 |
NET INCOME | 4,852 | 204 |
Operating Segments [Member] | ||
Net interest income (expense) | 16,597 | 12,776 |
Provision for loan losses | 313 | 2,999 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 16,284 | 9,777 |
Insurance service and fees | 2,502 | 2,425 |
Other non-interest income | 2,064 | 913 |
Amortization expense | 135 | 130 |
Other non-interest expense | 14,230 | 12,740 |
INCOME BEFORE INCOME TAXES | 6,485 | 245 |
Income tax provision | 1,633 | 41 |
NET INCOME | 4,852 | 204 |
Banking Activities [Member] | Operating Segments [Member] | ||
Net interest income (expense) | 16,600 | 12,779 |
Provision for loan losses | 313 | 2,999 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 16,287 | 9,780 |
Insurance service and fees | 164 | 113 |
Other non-interest income | 2,064 | 913 |
Amortization expense | 5 | |
Other non-interest expense | 12,213 | 10,720 |
INCOME BEFORE INCOME TAXES | 6,297 | 86 |
Income tax provision | 1,584 | |
NET INCOME | 4,713 | 86 |
Insurance Agency Activities [Member] | Operating Segments [Member] | ||
Net interest income (expense) | (3) | (3) |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | (3) | (3) |
Insurance service and fees | 2,338 | 2,312 |
Amortization expense | 130 | 130 |
Other non-interest expense | 2,017 | 2,020 |
INCOME BEFORE INCOME TAXES | 188 | 159 |
Income tax provision | 49 | 41 |
NET INCOME | $ 139 | $ 118 |
Contingent Liabilities And Co_3
Contingent Liabilities And Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | $ 376,992 | $ 362,955 | |
Losses on commitments | 0 | $ 0 | |
Reserve for commitments | 0 | $ 0 | |
Commitments To Extend Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | 372,744 | 359,152 | |
Standby Letters Of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Commitments and contingent liabilities | $ 4,248 | $ 3,803 |