Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 28, 2017 | |
Document Documentand Entity Information [Abstract] | ||
Entity Registrant Name | COMMUNITY FINANCIAL CORP /MD/ | |
Entity Central Index Key | 855,874 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | tcfc | |
Entity Common Stock Shares Outstanding | 4,649,302 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,017 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 14,982 | $ 9,948 |
Interest-bearing deposits with banks | 1,338 | 1,315 |
Securities available for sale (AFS), at fair value | 54,288 | 53,033 |
Securities held to maturity (HTM), at amortized cost | 106,842 | 109,247 |
Federal Home Loan Bank (FHLB) stock - at cost | 7,745 | 7,235 |
Loans receivable - net of allowance for loan losses of $10,434 and $9,860 | 1,132,429 | 1,079,519 |
Premises and equipment, net | 22,042 | 22,205 |
Premises and equipment held for sale | 345 | |
Other real estate owned (OREO) | 9,154 | 7,763 |
Accrued interest receivable | 4,212 | 3,979 |
Investment in bank owned life insurance | 29,011 | 28,625 |
Other assets | 10,645 | 11,043 |
Total assets | 1,392,688 | 1,334,257 |
Liabilities and Stockholders' Equity | ||
Non-interest-bearing deposits | 154,962 | 144,877 |
Interest-bearing deposits | 932,844 | 893,948 |
Total deposits | 1,087,806 | 1,038,825 |
Short-term borrowings | 88,500 | 79,000 |
Long-term debt | 65,529 | 65,559 |
Guaranteed preferred beneficial interest in junior subordinated debentures (TRUPs) | 12,000 | 12,000 |
Subordinated notes - 6.25% | 23,000 | 23,000 |
Accrued expenses and other liabilities | 6,560 | 11,447 |
Total liabilities | 1,283,395 | 1,229,831 |
Stockholders' Equity | ||
Common stock - par value $.01; authorized - 15,000,000 shares; issued 4,648,199 and 4,633,868 shares, respectively | 46 | 46 |
Additional paid in capital | 47,847 | 47,377 |
Retained earnings | 62,058 | 58,100 |
Accumulated other comprehensive loss | (489) | (928) |
Unearned ESOP shares | (169) | (169) |
Total stockholders' equity | 109,293 | 104,426 |
Total liabilities and stockholders' equity | $ 1,392,688 | $ 1,334,257 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Loans receivable, allowance for loan losses (in dollars) | $ 10,434 | $ 9,860 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized | 15,000,000 | 15,000,000 |
Common stock, issued | 4,648,199 | 4,633,868 |
Subordinated Debt [Member] | ||
Subordinated notes interest rate | 6.25% | 6.25% |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest and Dividend Income | ||||
Loans, including fees | $ 12,410 | $ 11,170 | $ 24,380 | $ 21,715 |
Interest and dividends on investment securities | 973 | 752 | 1,919 | 1,515 |
Interest on deposits with banks | 12 | 6 | 18 | 10 |
Total interest and dividend income | 13,395 | 11,928 | 26,317 | 23,240 |
Interest Expense | ||||
Deposits | 1,403 | 1,182 | 2,671 | 2,277 |
Short-term borrowings | 283 | 49 | 430 | 87 |
Long-term debt | 776 | 802 | 1,609 | 1,588 |
Total interest expense | 2,462 | 2,033 | 4,710 | 3,952 |
Net interest income | 10,933 | 9,895 | 21,607 | 19,288 |
Provision for loan losses | 376 | 564 | 756 | 991 |
Net interest income after provision for loan losses | 10,557 | 9,331 | 20,851 | 18,297 |
Noninterest Income | ||||
Loan appraisal, credit, and miscellaneous charges | 9 | 102 | 56 | 163 |
Gain on sale of asset | 47 | 4 | 47 | 4 |
Net gains (losses) on sale of OREO | 9 | (448) | 36 | (443) |
Net gain on sale of investment securities | 133 | 39 | 133 | 39 |
Income from bank owned life insurance | 194 | 198 | 385 | 394 |
Service charges | 660 | 882 | 1,270 | 1,470 |
Total noninterest income | 1,052 | 777 | 1,927 | 1,627 |
Noninterest Expense | ||||
Salary and employee benefits | 4,198 | 4,197 | 8,511 | 8,349 |
Occupancy expense | 658 | 636 | 1,311 | 1,225 |
Advertising | 140 | 156 | 248 | 219 |
Data processing expense | 634 | 580 | 1,211 | 1,134 |
Professional fees | 598 | 380 | 935 | 805 |
Depreciation of furniture, fixtures, and equipment | 204 | 206 | 403 | 402 |
Telephone communications | 45 | 46 | 96 | 90 |
Office supplies | 28 | 29 | 60 | 72 |
FDIC insurance | 161 | 184 | 327 | 427 |
OREO valuation allowance and expenses | 145 | 105 | 340 | 406 |
Other | 719 | 773 | 1,467 | 1,403 |
Total noninterest expense | 7,530 | 7,292 | 14,909 | 14,532 |
Income before income taxes | 4,079 | 2,816 | 7,869 | 5,392 |
Income tax expense | 1,536 | 1,078 | 2,984 | 2,046 |
Net income | $ 2,543 | $ 1,738 | $ 4,885 | $ 3,346 |
Earnings Per Common Share | ||||
Basic (in dollars per share) | $ 0.55 | $ 0.38 | $ 1.05 | $ 0.73 |
Diluted (in dollars per share) | 0.55 | 0.38 | 1.05 | 0.72 |
Cash dividends paid per common share (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.20 | $ 0.20 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 2,543 | $ 1,738 | $ 4,885 | $ 3,346 |
Net unrealized holding gains arising during period, net of tax expense of $206 and $55, and $289 and $210, respectively. | 318 | 86 | 445 | 325 |
Reclassification adjustment for gains included in net income, net of tax benefit of $(3) and $(10), and $(3) and $(10), respectively. | (6) | (20) | (6) | (20) |
Comprehensive income | $ 2,855 | $ 1,804 | $ 5,324 | $ 3,651 |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement [Abstract] | ||||
Net unrealized holding gains arising during period, tax effect | $ 206 | $ 55 | $ 289 | $ 210 |
Reclassification adjustments, tax effect | $ (3) | $ (10) | $ (3) | $ (10) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash Flows from Operating Activities | ||
Net income | $ 4,885 | $ 3,346 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision for loan losses | 756 | 991 |
Depreciation and amortization | 806 | 746 |
Net (gain) loss on the sale of OREO | (36) | 443 |
Gain on sales of investment securities | (133) | (39) |
Gain on sale of asset | (47) | (4) |
Net amortization of premium/discount on investment securities | 199 | 268 |
Increase in OREO valuation allowance | 313 | 262 |
Increase in cash surrender of bank owned life insurance | (386) | (394) |
Increase in deferred income tax benefit | (616) | (115) |
Increase in accrued interest receivable | (233) | (268) |
Stock based compensation | 284 | 160 |
Increase (decrease) in net deferred loan premiums | (456) | 705 |
Decrease in accrued expenses and other liabilities | (4,887) | (1,061) |
Decrease (increase) in other assets | 751 | (467) |
Net cash provided by operating activities | 1,200 | 4,573 |
Cash Flows from Investing Activities | ||
Purchase of AFS investment securities | (7,653) | (9,611) |
Proceeds from redemption or principal payments of AFS investment securities | 3,369 | 2,912 |
Purchase of HTM investment securities | (10,082) | (9,963) |
Proceeds from maturities or principal payments of HTM investment securities | 8,905 | 10,688 |
Net (decrease) increase of FHLB and FRB stock | (510) | 1,927 |
Loans originated or acquired | (182,660) | (193,983) |
Principal collected on loans | 126,878 | 103,627 |
Purchase of premises and equipment | (638) | (3,408) |
Proceeds from sale of OREO | 903 | 2,630 |
Proceeds from sale of HTM investment securities | 3,569 | 710 |
Proceeds from sale of AFS investment securities | 3,702 | 2,464 |
Proceeds from disposal of asset | 387 | 2,015 |
Net cash used in investing activities | (53,830) | (89,992) |
Cash Flows from Financing Activities | ||
Net increase in deposits | 48,981 | 86,576 |
Proceeds from long-term debt | 10,000 | 15,000 |
Payments of long-term debt | (10,030) | (5,029) |
Net increase (decrease) in short term borrowings | 9,500 | (8,000) |
Exercise of stock options | 137 | |
Dividends paid | (901) | (908) |
Repurchase of common stock | (336) | |
Net cash provided by financing activities | 57,687 | 87,303 |
Decrease in Cash and Cash Equivalents | 5,057 | 1,884 |
Cash and cash equivalents - January 1 | 11,263 | 11,139 |
Cash and cash equivalents - June 30 | 16,320 | 13,023 |
Supplemental Disclosures of Cash Flow Information | ||
Interest | 4,700 | 3,920 |
Income taxes | 3,450 | 2,175 |
Supplemental Schedule of Non-Cash Operating Activities | ||
Issuance of common stock for payment of compensation | 203 | 464 |
Transfer from loans to OREO | 2,772 | 2,718 |
Financed amount of sale of OREO | $ 200 | 1,830 |
Transfer of OREO to Fixed Assets | $ 372 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Basis of Presentation and Nature of Business [Abstract] | |
Basis of Presentation | NOTE 1 – BASIS OF PRESENTATION The consolidated financial statements of The Community Financial Corporation (the “Company”) and its wholly owned subsidiary, Community Bank of the Chesapeake (the “Bank”), and the Bank’s wholly owned subsidiary, Community Mortgage Corporation of Tri-County, included herein are unaudited. The consolidated financial statements reflect all adjustments consisting only of normal recurring accruals that, in the opinion of management, are necessary to present fairly the Company’s financial condition, results of operations, and cash flows for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The Company believes that the disclosures are adequate to make the information presented not misleading. The balances as of December 31, 2016 have been derived from audited financial statements. There have been no significant changes to the Company’s accounting policies as disclosed in the 2016 Annual Report. The results of operations for the three and six months ended June 30, 2017 are not necessarily indicative of the results of operations to be expected for the remainder of the year or any other period. Certain previously reported amounts have been re classified to conform to the 2017 presentation. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s 2016 Annual Report. |
Nature of Business
Nature of Business | 6 Months Ended |
Jun. 30, 2017 | |
Basis of Presentation and Nature of Business [Abstract] | |
Nature of Business | NOTE 2 – NATURE OF BUSINESS The Company provides a variety of financial services to individuals and businesses through its offices in Southern Maryland and Annapolis and Fredericksburg, Virginia. Its primary deposit products are demand, savings and time deposits, and its primary lending products are commercial and residential mortgage loans, commercial loans, construction and land development loans, home equity and second mortgages and commercial equipment loans. The Bank conducts business through its main office in Waldorf, Maryland, and eleven branch offices in Waldorf, Bryans Road, Dunkirk, Leonardtown, La Plata, Charlotte Hall, Prince Frederick, Lusby, California, Maryland; and Fredericksburg, Virginia. The Company maintains five loan production offices (“LPOs”) in Annapolis, La Plata, Prince Frederick and Leonardtown, Maryland; and Fredericksburg, Virginia. The Leonardtown and Fredericksburg LPOs are co-located with branches. The Company’s second branch in Fredericksburg opened in April 2016. During the second quarter of 2017, the Company announced the closing of its Central Park Fredericksburg branch. The branch is expected to close in the third quarter of 2017. This location will continue to serve as a loan production office and the branch closure will not have a material effect on operations. Current branch employees will fill open positions in the Company. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 3 – INCOME TAXES The Company files a consolidated federal income tax return with its subsidiaries. Deferred tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws and when it is considered more likely than not that deferred tax assets will be realized. It is the Company’s policy to recognize accrued interest and penalties related to unrecognized tax benefits as a component of tax expense. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2017 | |
Accumulated Other Comprehensive Income [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | NOTE 4 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the components of comprehensive income for the three and six months ended June 30, 2017 and 2016. The Company’s “other comprehensive” income was solely related to securities for the three and six months ended June 30, 2017 and 2016. Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 (dollars in thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains arising during period $ 524 $ 206 $ 318 $ 141 $ 55 $ 86 Reclassification adjustments (9) (3) (6) (30) (10) (20) Other comprehensive income $ 515 $ 203 $ 312 $ 111 $ 45 $ 66 Six Months Ended June 30, 2017 Six Months Ended June, 2016 (dollars in thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains arising during period $ 734 $ 289 $ 445 $ 535 $ 210 $ 325 Reclassification adjustments (9) (3) (6) (30) (10) (20) Other comprehensive income $ 725 $ 286 $ 439 $ 505 $ 200 $ 305 The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the three and six months ended June 30, 2017 and 2016. Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 Six Months Ended June 30, 2017 Six Months Ended June 30, 2016 (dollars in thousands) Net Unrealized Gains And Losses Net Unrealized Gains And Losses Net Unrealized Gains And Losses Net Unrealized Gains And Losses Beginning of period $ (801) $ (12) $ (928) $ (251) Other comprehensive gains, net of tax before reclassifications 318 86 445 325 Amounts reclassified from accumulated other comprehensive loss (6) (20) (6) (20) Net other comprehensive income 312 66 439 305 End of period $ (489) $ 54 $ (489) $ 54 |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share ("EPS") | NOTE 5 - EARNINGS PER SHARE (“EPS”) Basic earnings per common share represent income available to common shareholders, divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued by the Company relate to outstanding stock options and are determined using the treasury stock method. At June 30, 2017 and 2016 , there were 0 and 21,111 options, respectively, which were excluded from the calculation as their effect would be anti-dilutive, because the exercise price of the options were greater than the average market price of the common shares . B asic and diluted earnings per share have been computed based on weighted-average common and common equivalent shares outstanding as follows: Three Months Ended Six Months Ended June 30, June 30, (dollars in thousands) 2017 2016 2017 2016 Net Income $ 2,543 $ 1,738 $ 4,885 $ 3,346 Average number of common shares outstanding 4,632,911 4,590,444 4,630,647 4,592,563 Dilutive effect of common stock equivalents 2,572 27,350 3,073 28,636 Average number of shares used to calculate diluted EPS 4,635,483 4,617,794 4,633,720 4,621,199 Earnings Per Common Share Basic $ 0.55 $ 0.38 $ 1.05 $ 0.73 Diluted 0.55 0.38 1.05 0.72 |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | NOTE 6 - STOCK-BASED COMPENSATION The Company has stock-based incentive arrangements to attract and retain key personnel. In May 2015, the 2015 Equity Compensation Plan (the “Plan”) was approved by shareholders, which authorizes the issuance of restricted stock, stock appreciation rights, stock units and stock options to the Board of Directors and key employees. Compensation expense for service-based awards is recognized over the vesting period. Performance-based awards are recognized based on a vesting schedule and the probability of achieving goals specified at the time of the grant. The 2015 Plan replaced the 2005 Equity Compensation Plan. Stock-based compensation expense totaled $171,000 and $284,000 , respectively, for the three and six months ended June 30, 2017 and $79,000 and $160,000 , respectively, for the three and six months ended June 30, 2016. Stock-based compensation expense consisted of the vesting of grants of restricted stock. All outstanding options are fully vested and the Company has not granted any stock options since 2007. All outstanding options as of June 30, 2017 expire on July 17, 2017. The fair value of the Company’s outstanding employee stock options is estimated on the date of grant using the Black-Scholes option pricing model. The Company estimates expected market price volatility and expected term of the options based on historical data and other factors. The exercise price for options granted is set at the discretion of the committee administering the Plan, but is not less than the market value of the shares as of the date of grant. An option’s maximum term is 10 years and the options vest at the discretion of the committee. The following tables below summarize outstanding and exercisable options at June 30, 2017 and December 31, 2016. Weighted Weighted-Average Average Aggregate Contractual Life Exercise Intrinsic Remaining In (dollars in thousands, except per share amounts) Shares Price Value Years Outstanding at January 1, 2017 15,081 $ 27.70 $ - Exercised (13,181) 27.70 123 Forfeited (500) 27.70 - Outstanding at June 30, 2017 1,400 $ 27.70 $ 15 0.3 Exercisable at June 30, 2017 1,400 $ 27.70 $ 15 0.3 Weighted Weighted-Average Average Aggregate Contractual Life Exercise Intrinsic Remaining In (dollars in thousands, except per share amounts) Shares Price Value Years Outstanding at January 1, 2016 21,211 $ 27.70 $ - Forfeited (6,130) 27.70 Outstanding at December 31, 2016 15,081 $ 27.70 $ 20 0.5 Exercisable at December 31, 2016 15,081 $ 27.70 $ 20 0.5 Options outstanding are all currently exercisable and are summarized as follows: Shares Outstanding Weighted Average Weighted Average June 30, 2017 Remaining Contractual Life Exercise Price 1,400 less than 1 year $ 27.70 The aggregate intrinsic value of outstanding stock options and exercisable stock options was $15,000 at June 30, 2017 and $20,000 at D ecember 31, 2016. Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $38.50 and $29.00 per share at June 30, 2017 and December 31, 2016, respectively, and the exercise price multiplied by the number of options outstanding. The Company granted restricted stock in accordance with the Plan. The vesting period for outstanding granted restricted stock is between three and five years. As of June 30, 2017 and December 31, 2016, unrecognized stock compensation expense was $751,000 and $810,000 , respectively . The following tables summarize the unvested restricted stock awards outstanding at June 30, 2017 and December 31, 2016, respectively. Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2017 47,881 $ 20.41 Granted 6,752 30.20 Vested (20,271) 20.09 Cancelled (86) 20.75 Nonvested at June 30, 2017 34,276 $ 22.53 Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2016 37,048 $ 19.83 Granted 27,403 21.00 Vested (15,912) 20.09 Cancelled (658) 20.31 Nonvested at December 31, 2016 47,881 $ 20.41 |
Guaranteed Preferred Beneficial
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures ("TRUPs") | 6 Months Ended |
Jun. 30, 2017 | |
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures (TRUPs) [Abstract] | |
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures ("TRUPs") | NOTE 7 - GUARANTEED PREFERRED BENEFICIAL INTEREST IN JUNIOR SUBORDINATED DEBENTURES (“TRUPs”) On June 15, 2005, Tri-County Capital Trust II (“Capital Trust II”), a Delaware business trust formed, funded and wholly owned by the Company, issued $5.0 million of variable-rate capital securities in a private pooled transaction. The variable rate is based on the 90-day LIBOR rate plus 1.70% . The Trust used the proceeds from this issuance, along with the $155,000 for Capital Trust II’s common securities, to purchase $5.2 million of the Company’s junior subordinated debentures. The interest rate on the debentures and the trust preferred securities is variable and adjusts quarterly. These capital securities qualify as Tier I capital and are presented in the Consolidated Balance Sheets as “Guaranteed Preferred Beneficial Interests in Junior Subordinated Debentures.” Both the capital securities of Capital Trust II and the junior subordinated debentures are scheduled to mature on June 15, 2035 , unless called by the Company. On July 22, 2004, Tri-County Capital Trust I (“Capital Trust I”), a Delaware business trust formed, funded and wholly owned by the Company, issued $7.0 million of variable-rate capital securities in a private pooled transaction. The variable rate is based on the 90-day LIBOR rate plus 2.60% . The Trust used the proceeds from this issuance, along with the Company’s $217,000 capital contribution for Capital Trust I’s common securities, to purchase $7.2 million of the Company’s junior subordinated debentures. The interest rate on the debentures and the trust preferred securities is variable and adjusts quarterly. These debentures qualify as Tier I capital and are presented in the Consolidated Balance Sheets as “Guaranteed Preferred Beneficial Interests in Junior Subordinated Debentures.” Both the capital securities of Capital Trust I and the junior subordinated debentures are scheduled to mature on July 22, 2034 , unless called by the Company. |
Subordinated Notes
Subordinated Notes | 6 Months Ended |
Jun. 30, 2017 | |
Subordinated Notes [Abstract] | |
Subordinated Notes | NOTE 8 – SUBORDINATED NOTES On February 6, 2015 the Company issued $23.0 million of unsecured 6.25% fixed to floating rate subordinated notes due February 15, 2025 (“subordinated notes”). On February 13, 2015 , the Company used proceeds of the offering to redeem all $20 million of the Company’s outstanding preferred stock issued under the Small Business Lending Fund (“SBLF”) program. The subordinated notes qualify as Tier 2 regulatory capital and replaced SBLF Tier 1 capital. The subordinated notes are not listed on any securities exchange or included in any automated dealer quotation system and there is no market for the notes. The notes are unsecured obligations and are subordinated in right of payment to all existing and future senior debt, whether secured or unsecured. The notes are not guaranteed obligations of any of the Company’s subsidiaries. Interest will accrue at a fixed per annum rate of 6.25% from and including the issue date to but excluding February 15, 2020. From and including February 15, 2020 to but excluding the maturity date interest will accrue at a floating rate equal to the three-month LIBOR plus 479 basis points. Interest is payable on the notes on February 15 and August 15 of each year, commencing August 15, 2015, through February 15, 2020, and thereafter February 15, May 15, August 15 and November 15 of each year through the maturity date or earlier redemption date. The subordinated notes may be redeemed in whole or in part on February 15, 2020 or on any scheduled interest payment date thereafter and upon the occurrence of certain special events. The redemption price is equal to 100% of the principal amount of the subordinated notes to be redeemed plus accrued and unpaid interest to the date of redemption. Any partial redemption will be made pro rata among all holders of the subordinated notes. The subordinated notes are not subject to repayment at the option of the holders. The subordinated notes may be redeemed at any time, if (1) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the notes for U.S. federal income tax purposes, (2) a subsequent event occurs that precludes the notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (3) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended. |
Other Real Estate Owned ("OREO"
Other Real Estate Owned ("OREO") | 6 Months Ended |
Jun. 30, 2017 | |
Other Real Estate Owned ("OREO") [Abstract] | |
Other Real Estate Owned ("OREO") | NOTE 9 - OTHER REAL ESTATE OWNED (“OREO”) OREO assets are presented net of valuation allowances. The Company considers OREO as classified assets for regulatory and financial reporting. An analysis of OREO activity follows. Six Months Ended June 30, Years Ended December 31, (dollars in thousands) 2017 2016 2016 Balance at beginning of year $ 7,763 $ 9,449 $ 9,449 Additions of underlying property 2,772 2,718 3,120 Disposals of underlying property (1,068) (3,445) (3,860) Transfers to premises and equipment - - (372) Valuation allowance (313) (262) (574) Balance at end of period $ 9,154 $ 8,460 $ 7,763 During the six months ended June 30, 2017, additions of $2.8 million to OREO were related to the foreclosure of a stalled residential development project. The Bank is working with a construction manager to stabilize and market the project. The Company disposed of four residential properties and multiple residential lots for proceeds of $1.1 million and a gain of $36,000 for the six months ended June 30, 2017. The Bank provided $200,000 in financing for one residential property and the three residential lots during the first quarter of 2017. The transaction qualified for full accrual sales treatment under ASC Topic 360-20-40 “Property Plant and Equipment – Derecognition”. During the six months ended June 30, 2016, additions of $2.7 million consisted of $577,000 for a residential property and $2.1 million for a deed in lieu of foreclosure on an improved commercial office building with multiple tenants. The Company recognized net losses on OREO disposals of $443,000 for the six months ended June 30, 2016. Disposals for the six months ended June 30, 2016 consisted of properties with the following carrying values; $106,000 for three residential lots, $166,000 for one residential property, $875,000 for three commercial properties and $2.2 million for an apartment and condominium property. The Bank provided financing for the apartment and condominium purchase which qualified for full accrual sales treatment under ASC Topic 360-20-40 “Property Plant and Equipment – Derecognition”. The Company had $742,000 and $353,000 of impaired loans secured by residential real estate for which formal foreclosure proceedings were in process as of June 30, 2017 and December 31, 2016, respectively. Additions to the valuation allowances of $313,000 and $262,000 were taken to adjust properties to current appraised values for the six months ended June 30, 2017 and 2016, respectively. OREO carrying amounts reflect management’s estimate of the realizable value of these properties incorporating current appraised values, local real estate market conditions and related costs. Expenses applicable to OREO assets included the following. Three Months Ended June 30, Six Months Ended June 30, (dollars in thousands) 2017 2016 2017 2016 Valuation allowance $ 117 $ 7 $ 313 $ 262 Operating expenses 28 98 27 144 $ 145 $ 105 $ 340 $ 406 |
Securities
Securities | 6 Months Ended |
Jun. 30, 2017 | |
Securities [Abstract] | |
Securities | NOTE 10 – SECURITIES June 30, 2017 Amortized Gross Unrealized Gross Unrealized Estimated (dollars in thousands) Cost Gains Losses Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential Mortgage Backed Securities ("MBS") $ 6,229 $ - $ 83 $ 6,146 Residential Collateralized Mortgage Obligations ("CMOs") 34,185 16 595 33,606 U.S. Agency 10,213 - 198 10,015 Corporate equity securities 37 - - 37 Bond mutual funds 4,432 52 - 4,484 Total securities available for sale $ 55,096 $ 68 $ 876 $ 54,288 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 30,612 $ 413 $ 74 $ 30,951 Residential CMOs 60,500 190 449 60,241 U.S. Agency 8,970 7 102 8,875 Asset-backed securities issued by Others: Residential CMOs 740 - 62 678 Callable GSE Agency Bonds 5,020 10 - 5,030 U.S. government obligations 1,000 - - 1,000 Total securities held to maturity $ 106,842 $ 620 $ 687 $ 106,775 December 31, 2016 Amortized Gross Unrealized Gross Unrealized Estimated (dollars in thousands) Cost Gains Losses Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 4,377 $ - $ 194 $ 4,183 Residential CMOs 35,176 18 966 34,228 U.S. Agency 10,589 - 417 10,172 Corporate equity securities 37 - - 37 Bond mutual funds 4,386 27 - 4,413 Total securities available for sale $ 54,565 $ 45 $ 1,577 $ 53,033 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 34,735 $ 367 $ 569 $ 34,533 Residential CMOs 63,060 135 802 62,393 U.S. Agency 6,717 - 253 6,464 Asset-backed securities issued by Others: Residential CMOs 884 - 81 803 Callable GSE Agency Bonds 3,001 - 10 2,991 U.S. government obligations 850 - - 850 Total securities held to maturity $ 109,247 $ 502 $ 1,715 $ 108,034 At June 30, 2017, securities with an amortized cost of $25.4 million were pledged to secure certain customer deposits. At June 30, 2017, securities with an amortized cost of $4.3 million were pledged as collateral for advances from the Federal Home Loan Bank (“FHLB”) of Atlanta. At June 30, 2017, greater than 99% of the asset-backed securities and agency bond portfolio was rated AAA by Standard & Poor’s or the equivalent credit rating from another major rating agency. AFS asset-backed securities issued by GSEs and U.S. Agencies had an average life of 4.57 years and average duration of 4.11 years and are guaranteed by their issuer as to credit risk. HTM asset-backed securities issued by GSEs and U.S. Agencies had an average life of 4.69 years and average duration of 4.20 years and are guaranteed by their issuer as to credit risk. At December 31, 2016, securities with an amortized cost of $21.5 million were pledged to secure certain deposits. At December 31, 2016, securities with an amortized cost of $1.6 million were pledged as collateral for advances from the Federal Home Loan Bank (“FHLB”) of Atlanta. At December 31, 2016, 99% of the asset-backed securities and agency bond portfolio was rated AAA by Standard & Poor’s or the equivalent credit rating from another major rating agency. AFS asset-backed securities issued by GSEs and U.S. Agencies had an average life of 4.96 years and average duration of 4.43 years and are guaranteed by their issuer as to credit risk. HTM asset-backed securities issued by GSEs and U.S. Agencies had an average life of 5.30 years and average duration of 4.71 years and are guaranteed by their issuer as to credit risk. Management believes that AFS securities with unrealized losses will either recover in market value or be paid off as agreed. The Company intends to, and has the ability to, hold these securities to maturity. Because our intention is not to sell the investments and it is not more likely than not that the Company will be required to sell the investments, management considers the unrealized losses in the AFS portfolio to be temporary. We believe that the losses are the result of general perceptions of safety and creditworthiness of the entire sector and a general disruption of orderly markets in the asset class. The Company intends to, and has the ability to, hold the HTM securities with unrealized losses until they mature, at which time the Company will receive full value for the securities. Because our intention is not to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, management considers the unrealized losses in the held-to-maturity portfolio to be temporary. No charges related to other-than-temporary impairment were made for the six months ended June 30, 2017 and the year ended December 31, 2016. During the six months ended June 30, 2017 the Company recognized net gains on the sale of securities of $133,000 . The Company sold three AFS securities with aggregate carrying values of $3.6 million and six HTM securities with aggregate carrying values of $3.4 million, recognizing gains of $9,000 and $124,000 , respectively. During the six months ended June 30, 2016 the Company recognized net gains on the sale of securities of $39,000 . The Company sold three AFS securities with aggregate carrying values of $2.4 million and one HTM security with a carrying value of $698,000 , recognizing gains of $31,000 and $8,000 , respectively. The sale of HTM securities is permitted under ASC 320 “Investments - Debt and Equity Securities.” ASC 320 permits the sale of HTM securities for certain changes in circumstances. The Company will dispose of HTM securities using the safe harbor rule that allows for the sale of HTM securities that have principal payments paid down to less than 15% of original purchased par. ASC 320 10-25-15 indicates that a sale of a debt security after a substantial portion of the principal has been collected is equivalent to holding the security to maturity. In addition, the Company may dispose of HTM securities under ASC 320-10-25-6 due to a significant deterioration in the issues’ creditworthiness. AFS Securities Gross unrealized losses and estimated fair value by length of time that the individual AFS securities have been in a continuous unrealized loss position at June 30, 2017 were as follows: June 30, 2017 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies $ 33,710 $ 536 $ 13,314 $ 340 $ 47,024 $ 876 At June 30, 2017, the AFS investment portfolio had an estimated fair value of $54.3 million, of which $47.0 million of the securities had some unrealized losses from their amortized cost. AFS asset-backed securities issued by GSEs are guaranteed by the issuer and AFS U.S. government agency securities and bonds are guaranteed by the full faith and credit of the U.S. government. Total unrealized losses on the portfolio were $876,000 of the portfolio amortized cost of $50.6 million. AFS asset-backed securities issued by GSEs and U.S. Agencies with unrealized losses had an average life of 4.60 years and an average duration of 4.14 years. Management believes that the securities will either recover in market value or be paid off as agreed. Gross unrealized losses and estimated fair value by length of time that the individual AFS securities have been in a continuous unrealized loss position at December 31, 2016 were as follows: December 31, 2016 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies $ 34,262 $ 1,110 $ 11,846 $ 467 $ 46,108 $ 1,577 At December 31, 2016, the AFS investment portfolio had an estimated fair value of $53.0 million, of which $46.1 million of the securities had some unrealized losses from their amortized cost. AFS asset-backed securities issued by GSEs are guaranteed by the issuer and AFS U.S. government agency securities and bonds are guaranteed by the full faith and credit of the U.S. government. Total unrealized losses on the portfolio were $1.6 million of the portfolio amortized cost of $50.1 million. AFS asset-backed securities issued by GSEs and U.S. Agencies with unrealized losses had an average life of 4.91 years and an average duration of 4.37 years. Management believes that the securities will either recover in market value or be paid off as agreed. HTM Securities Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at June 30, 2017 were as follows: June 30, 2017 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies 55,262 504 6,003 121 61,265 625 Asset-backed securities issued by Others - - 678 62 678 62 $ 55,262 $ 504 $ 6,681 $ 183 $ 61,943 $ 687 At June 30, 2017, the HTM investment portfolio had an estimated fair value of $106.8 million, of which $61.9 million of the securities had some unrealized losses from their amortized cost. Of these securities, $61.3 million were asset-backed securities issued by GSEs and U.S. Agencies and $678,000 were asset-backed securities issued by others. HTM asset-backed securities issued by GSEs and GSE agency bonds are guaranteed by the issuer and HTM U.S. government agency securities and bonds are guaranteed by the full faith and credit of the U.S. government. Total unrealized losses on the portfolio were $625,000 of the portfolio amortized cost of $100.1 million. The securities with unrealized losses had an average life of 4.56 years and an average duration of 4.11 years. Management believes that the securities will either recover in market value or be paid off as agreed. The Company intends to, and has the ability to, hold these securities to maturity. HTM asset-backed securities issued by others are collateralized mortgage obligation securities. The securities have credit support tranches that absorb losses prior to the tranches that the Company owns. The Company reviews credit support positions on its securities regularly. Total unrealized losses on the asset-backed securities issued by others were $62,000 of the portfolio amortized cost of $740,000 . HTM asset-backed securities issued by others with unrealized losses had an average life of 2.96 years and an average duration of 2.44 years. Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at December 31, 2016 were as follows: December 31, 2016 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies $ 77,879 $ 1,452 $ 6,340 $ 182 $ 84,219 $ 1,634 Asset-backed securities issued by Others - - 803 81 803 81 $ 77,879 $ 1,452 $ 7,143 $ 263 $ 85,022 $ 1,715 At December 31, 2016, the HTM investment portfolio had an estimated fair value of $108.0 million, of which $85.0 million of the securities had some unrealized losses from their amortized cost. Of these securities, $84.2 million were asset-backed securities issued by GSEs and U.S. Agencies. The remaining $803,000 were asset-backed securities issued by others. HTM asset-backed securities issued by GSEs are guaranteed by the issuer and HTM U.S. government agency securities and bonds are guaranteed by the full faith and credit of the U.S. government. Total unrealized losses on the portfolio were $1.6 million of the portfolio amortized cost of $108.4 million. The securities with unrealized losses had an average life of 5.06 years and an average duration of 4.49 years. Management believes that the securities will either recover in market value or be paid off as agreed. The Company intends to, and has the ability to, hold these securities to maturity. HTM asset-backed securities issued by others are collateralized mortgage obligation securities. The securities have credit support tranches that absorb losses prior to the tranches that the Company owns. The Company reviews credit support positions on its securities regularly. Total unrealized losses on the asset-backed securities issued by others were $81,000 of the portfolio amortized cost of $884,000 . HTM asset-backed securities issued by others with unrealized losses had an average life of 4.15 years and an average duration of 3.29 years. Credit Quality of Asset-Backed Securities and Agency Bonds The tables below present the Standard & Poor’s (“S&P”) or equivalent credit rating from other major rating agencies for AFS and HTM asset-backed securities issued by GSEs and U.S. Agencies and others or bonds issued by GSEs or U.S. government agencies at June 30, 2017 and December 31, 2016 by carrying value. The Company considers noninvestment grade securities rated BB+ or lower as classified assets for regulatory and financial reporting. GSE asset-backed securities and GSE agency bonds with S&P AA+ ratings were treated as AAA based on regulatory guidance. June 30, 2017 December 31, 2016 Credit Rating Amount Credit Rating Amount (dollars in thousands) AAA $ 155,869 AAA $ 156,947 BB 740 BB 411 B+ - B+ 472 Total $ 156,609 Total $ 157,830 |
Loans
Loans | 6 Months Ended |
Jun. 30, 2017 | |
Loans [Abstract] | |
Loans | NOTE 11 – LOANS Loans consist of the following: (dollars in thousands) June 30, 2017 % December 31, 2016 % Commercial real estate $ 713,789 62.50% $ 667,105 61.25% Residential first mortgages 181,386 15.88% 171,004 15.70% Residential rentals 103,361 9.05% 101,897 9.36% Construction and land development 32,603 2.85% 36,934 3.39% Home equity and second mortgages 20,847 1.83% 21,399 1.97% Commercial loans 55,023 4.82% 50,484 4.64% Consumer loans 412 0.04% 422 0.04% Commercial equipment 34,589 3.03% 39,737 3.65% 1,142,010 100.00% 1,088,982 100.00% Less: Deferred loan fees and premiums (853) -0.07% (397) -0.04% Allowance for loan losses 10,434 0.91% 9,860 0.91% 9,581 9,463 $ 1,132,429 $ 1,079,519 At June 30, 2017 and December 31, 2016, the Bank’s allowance for loan losses totaled $10.4 million and $9.9 million, or 0.91% and 0.91%, respectively, of loan balances. Management’s determination of the adequacy of the allowance is based on a periodic evaluation of the portfolio with consideration given to the overall loss experience, current economic conditions, size, growth and composition of the loan portfolio, financial condition of the borrowers and other relevant factors that, in management’s judgment, warrant recognition in providing an adequate allowance. Deferred loan fees and premiums include net deferred fees paid by customers of $2.8 million and $2.7 million at June 30, 2017 and December 31, 2016, respectively. These were offset by net deferred premiums for the purchase of residential first mortgages and deferred costs of $3.6 million and $3.1 million, respectively, at June 30, 2017 and December 31, 2016, respectively. Prior to April 1, 2016, loans secured by residential rental property were included in the residential first mortgage and commercial real estate loan portfolios. Beginning in the second quarter of 2016, the Company segregated loans secured by residential rental property into a new loan portfolio segment. Residential rental property includes income producing properties comprising 1-4 family units and apartment buildings. The Company’s decision to segregate the residential rental property portfolio for financial reporting was based on the growth and size of the portfolio and risk characteristics unique to residential rental properties. Comparative financial information was reclassified to conform to the classification presented. Risk Characteristics of Portfolio Segments The Company manages its credit products and exposure to credit losses (credit risk) by the following specific portfolio segments (classes), which are levels at which the Company develops and documents its allowance for loan loss methodology. These segments are: Commercial Real Estate (“CRE”) Commercial and other real estate projects include office buildings, retail locations, churches, other special purpose buildings and commercial construction. Commercial construction balances were 5.9% and 9.3% of the CRE portfolio at June 30, 2017 and December 31, 2016, respectively. The Bank offers both fixed-rate and adjustable-rate loans under these product lines. The primary security on a commercial real estate loan is the real property and the leases that produce income for the real property. Loans secured by commercial real estate are generally limited to 80% of the lower of the appraised value or sales price at origination and have an initial contractual loan payment period ranging from three to 20 years. Loans secured by commercial real estate are larger and involve greater risks than one-to four-family residential mortgage loans. Because payments on loans secured by such properties are often dependent on the successful operation or management of the properties, repayment of such loans may be subject to a greater extent to adverse conditions in the real estate market or the economy. Residential First Mortgages Residential first mortgage loans are generally long-term loans, amortized on a monthly basis, with principal and interest due each month. The contractual loan payment period for residential loans typically ranges from ten to 30 years. The Bank’s experience indicates that real estate loans remain outstanding for significantly shorter time periods than their contractual terms. Borrowers may refinance or prepay loans at their option, without penalty. The Bank’s residential portfolio has both fixed-rate and adjustable-rate residential first mortgages. During the six months ended June 30, 2017 and the years ended December 31, 2016, the Bank purchased residential first mortgages of $19.0 million and $64.2 million, respectively. The annual and lifetime limitations on interest rate adjustments may limit the increases in interest rates on these loans. There are also credit risks resulting from potential increased costs to the borrower as a result of repricing of adjustable-rate mortgage loans. During periods of rising interest rates, the risk of default on adjustable-rate mortgage loans may increase due to the upward adjustment of interest cost to the borrower. The Bank’s adjustable rate residential first mortgage portfolio was $59.6 million or 5.2% of total gross loans of $1.14 billion at June 30, 2017 compared to $45.6 million or 4.2% of total gross loans of $1.09 billion at December 31, 2016. Residential Rentals Residential rental mortgage loans are amortizing, with principal and interest due each month. The loans are secured by income-producing 1-4 family units and apartments. As of June 30, 2017 and December 31, 2016, $85.8 million and $84.9 million, respectively, were 1-4 family units and $17.6 million and $17.0 million, respectively, were apartment buildings. Loans secured by residential rental properties are generally limited to 80% of the lower of the appraised value or sales price at origination and have an initial contractual loan payment period ranging from three to 20 years. The primary security on a residential rental loan is the property and the leases that produce income. During periods of rising interest rates, the risk of default on adjustable-rate mortgage loans may increase due to the upward adjustment of interest cost to the borrower. The Bank’s adjustable rate residential rental portfolio was $85.5 million or 7.5% of total gross loans of $1.14 billion at June 30, 2017 compared to $84.0 million or 7.7% of total gross loans of $1.09 billion at December 31, 2016. Loans secured by residential rental properties involve greater risks than 1-4 family residential mortgage loans. Although, there are similar risk characteristics shared with commercial real estate loans, the balances for the loans secured by residential rental properties are generally smaller. Because payments on loans secured by residential rental properties are often dependent on the successful operation or management of the properties, repayment of these loans may be subject to a greater extent to adverse conditions in the rental real estate market or the economy than similar owner occupied properties. Construction and Land Development The Bank offers loans for the construction of one-to-four family dwellings. Generally, these loans are secured by the real estate under construction as well as by guarantees of the principals involved. In addition, the Bank offers loans to acquire and develop land, as well as loans on undeveloped, subdivided lots for home building. A decline in demand for new housing might adversely affect the ability of borrowers to repay these loans. Construction and land development loans are inherently riskier than providing financing on owner-occupied real estate. The Bank’s risk of loss is affected by the accuracy of the initial estimate of the market value of the completed project as well as the accuracy of the cost estimates made to complete the project. In addition, the volatility of the real estate market has made it increasingly difficult to ensure that the valuation of land associated with these loans is accurate. During the construction phase, a number of factors could result in delays and cost overruns. If the estimate of construction costs proves to be inaccurate, the Bank may be required to advance funds beyond the amount originally committed to permit completion of the development. If the estimate of value proves to be inaccurate, a project’s value might be insufficient to assure full repayment. As a result of these factors, construction lending often involves the disbursement of substantial funds with repayment dependent, in part, on the success of the project rather than the ability of the borrower or guarantor to repay principal and interest. If the Bank forecloses on a project, there can be no assurance that the Bank will be able to recover all of the unpaid balance of, and accrued interest on, the loan as well as related foreclosure and holding costs. Home Equity and Second Mortgage Loans The Bank maintains a portfolio of home equity and second mortgage loans. These products contain a higher risk of default than residential first mortgages as in the event of foreclosure, the first mortgage would need to be paid off prior to collection of the second mortgage. This risk has been heightened as the market value of residential property has declined. Commercial Loans The Bank offers commercial loans to its business customers. The Bank offers a variety of commercial loan products including term loans and lines of credit. Such loans are generally made for terms of five years or less. The Bank offers both fixed-rate and adjustable-rate loans under these product lines. When making commercial business loans, the Bank considers the financial condition of the borrower, the borrower’s payment history of both corporate and personal debt, the projected cash flows of the business, the viability of the industry in which the consumer operates, the value of the collateral, and the borrower’s ability to service the debt from income. These loans are primarily secured by equipment, real property, accounts receivable or other security as determined by the Bank. Commercial loans are made on the basis of the borrower’s ability to make repayment from the cash flows of the borrower’s business. As a result, the availability of funds for the repayment of commercial loans may depend substantially on the success of the business itself. Consumer Loans Consumer loans consist of loans secured by automobiles, boats, recreational vehicles and trucks. The Bank also makes home improvement loans and offers both secured and unsecured personal lines of credit. Consumer loans entail greater risk from other loan types due to being secured by rapidly depreciating assets or the reliance on the borrower’s continuing financial stability. Commercial Equipment Loans These loans consist primarily of fixed-rate, short-term loans collateralized by a commercial customer’s equipment or secured by real property, accounts receivable, or other security as determined by the Bank. When making commercial equipment loans, the Bank considers the same factors it considers when underwriting a commercial business loan. Commercial loans are of higher risk and typically are made on the basis of the borrower’s ability to make repayment from the cash flows of the borrower’s business. As a result, the availability of funds for the repayment of commercial loans may depend substantially on the success of the business itself. In the case of business failure, collateral would need to be liquidated to provide repayment for the loan. In many cases, the highly specialized nature of collateral equipment would make full recovery from the sale of collateral problematic. Non-accrual and Past Due Loans Non-accrual loans as of June 30, 2017 and December 31, 2016 were as follows: June 30, 2017 (dollars in thousands) 90 or Greater Days Delinquent Number of Loans Non-accrual Only Loans Number of Loans Total Non-accrual Loans Total Number of Loans Commercial real estate $ 2,015 7 $ - - $ 2,015 7 Residential first mortgages 288 3 - - 288 3 Residential rentals 332 3 - - 332 3 Construction and land development 252 1 - - 252 1 Home equity and second mortgages 52 2 - - 52 2 Commercial loans 376 3 660 2 1,036 5 Commercial equipment 467 3 - - 467 3 $ 3,782 22 $ 660 2 $ 4,442 24 December 31, 2016 (dollars in thousands) 90 or Greater Days Delinquent Number of Loans Non-accrual Only Loans Number of Loans Total Non-accrual Loans Total Number of Loans Commercial real estate $ 2,371 7 $ - - $ 2,371 7 Residential first mortgages 623 4 - - 623 4 Residential rentals 577 4 - - 577 4 Construction and land development 3,048 2 - - 3,048 2 Home equity and second mortgages 61 2 - - 61 2 Commercial loans 375 3 669 2 1,044 5 Commercial equipment 650 5 - - 650 5 $ 7,705 27 $ 669 2 $ 8,374 29 Non-accrual loans (90 days or greater delinquent and non-accrual only loans) decreased $3.9 million from $8.4 million or 0.77% of total loans at December 31, 2016 to $4.4 million or 0.39% of total loans at June 30, 2017. Non-accrual only loans are loans classified as non-accrual due to customer operating results or payment history. In accordance with the Company’s policy, interest income is recognized on a cash basis for these loans. Non-accrual loans at June 30, 2017 included $3.1 million, or 71 % of non-accrual loans, attributed to 11 loans representing five customer relationships. During the six months ended June 30, 2017 non-accrual loans decreased $2.8 million due to the foreclosure of a stalled residential development project. The Bank is working with a construction manager to stabilize and market the project. Non-accrual loans at December 31, 2016 included $6.4 million, or 77% of non-accrual loans, attributed to 15 loans representing six customer relationships. Non-accrual loans included four troubled debt restructures (“TDRs”) totaling $1.8 million at June 30, 2017 and six TDRs totaling $4.7 million at December 31, 2016. These loans are classified solely as non-accrual loans for the calculation of financial ratios. Non-accrual loans on which the recognition of interest has been discontinued, which did not have a specific allowance for impairment, amounted to $3.8 million and $7.8 million at June 30, 2017 and December 31, 2016, respectively. Interest due but not recognized on these balances at June 30, 2017 and December 31, 2016 was $183,000 and $947,000 , respectively. Non-accrual loans with a specific allowance for impairment on which the recognition of interest has been discontinued amounted to $689,000 and $575,000 at June 30, 2017 and December 31, 2016, respectively. Interest due but not recognized on these balances at June 30, 2017 and December 31, 2016 was $80,000 and $156,000 , respectively. . Past due loans as of June 30, 2017 and December 31, 2016 were as follows: June 30, 2017 (dollars in thousands) Current 31-60 Days 61-89 Days 90 or Greater Days Total Past Due Total Loan Receivables Loans > 90 Days and Accruing Commercial real estate $ 711,317 $ - $ 457 $ 2,015 $ 2,472 $ 713,789 $ - Residential first mortgages 180,762 - 336 288 624 181,386 - Residential rentals 102,945 - 84 332 416 103,361 - Construction and land dev. 32,351 - - 252 252 32,603 - Home equity and second mtg. 20,657 - 138 52 190 20,847 - Commercial loans 54,647 - - 376 376 55,023 - Consumer loans 412 - - - - 412 - Commercial equipment 34,056 39 27 467 533 34,589 - Total $ 1,137,147 $ 39 $ 1,042 $ 3,782 $ 4,863 $ 1,142,010 $ - December 31, 2016 (dollars in thousands) Current 31-60 Days 61-89 Days 90 or Greater Days Total Past Due Total Loan Receivables Loans > 90 Days and Accruing Commercial real estate $ 664,250 $ - $ 484 $ 2,371 $ 2,855 $ 667,105 $ - Residential first mortgages 170,381 - - 623 623 171,004 - Residential rentals 101,309 - 11 577 588 101,897 - Construction and land dev. 33,886 - - 3,048 3,048 36,934 - Home equity and second mtg. 21,175 130 33 61 224 21,399 - Commercial loans 49,778 331 - 375 706 50,484 - Consumer loans 420 - 2 - 2 422 - Commercial equipment 39,044 42 1 650 693 39,737 - Total $ 1,080,243 $ 503 $ 531 $ 7,705 $ 8,739 $ 1,088,982 $ - Impaired Loans and Troubled Debt Restructures (“TDRs”) Impaired loans, including TDRs, at June 30, 2017 and 2016 and at December 31, 2016 were as follows: June 30, 2017 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Quarter Average Recorded Investment Quarter Interest Income Recognized YTD Average Recorded Investment YTD Interest Income Recognized Commercial real estate $ 20,277 $ 13,079 $ 6,987 $ 20,066 $ 693 $ 20,186 $ 198 $ 20,274 $ 417 Residential first mortgages 2,294 1,823 468 2,291 11 2,299 21 2,311 49 Residential rentals 2,758 2,286 400 2,686 23 2,693 27 2,731 56 Construction and land dev. 981 252 729 981 163 980 4 980 7 Home equity and second mtg. 109 109 - 109 - 110 1 111 2 Commercial loans 3,063 2,804 169 2,973 169 2,974 23 2,986 46 Commercial equipment 638 108 491 599 417 617 6 625 11 Total $ 30,120 $ 20,461 $ 9,244 $ 29,705 $ 1,476 $ 29,859 $ 280 $ 30,018 $ 588 December 31, 2016 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized Commercial real estate $ 22,195 $ 14,896 $ 7,081 $ 21,977 $ 806 $ 22,303 $ 908 Residential first mortgages 2,436 1,938 475 2,413 7 2,445 90 Residential rentals 3,440 2,850 178 3,028 36 3,486 134 Construction and land dev. 4,304 2,926 851 3,777 178 3,867 16 Home equity and second mtg. 170 170 - 170 - 176 7 Commercial loans 3,285 3,004 200 3,204 123 3,442 137 Commercial equipment 855 652 139 791 139 815 17 Total $ 36,685 $ 26,436 $ 8,924 $ 35,360 $ 1,289 $ 36,534 $ 1,309 June 30, 2016 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Quarter Average Recorded Investment Quarter Interest Income Recognized YTD Average Recorded Investment YTD Interest Income Recognized Commercial real estate $ 22,444 $ 20,010 $ 2,404 $ 22,414 $ 582 $ 22,503 $ 243 $ 22,724 $ 420 Residential first mortgages 2,957 2,472 485 2,957 20 2,982 23 2,990 51 Residential rentals 3,987 3,352 239 3,591 53 3,747 42 3,798 67 Construction and land dev. 4,443 3,939 431 4,370 398 4,317 4 4,264 7 Home equity and second mtg. 109 109 - 109 - 109 1 108 2 Commercial loans 4,551 4,222 5 4,227 5 4,237 36 4,238 69 Commercial equipment 839 623 193 816 165 828 5 840 11 Total $ 39,330 $ 34,727 $ 3,757 $ 38,484 $ 1,223 $ 38,723 $ 354 $ 38,962 $ 627 TDRs, included in the impaired loan schedules above, as of June 30, 2017 and December 31, 2016 were as follows: June 30, 2017 December 31, 2016 (dollars in thousands) Dollars Number of Loans Dollars Number of Loans Commercial real estate $ 9,466 9 $ 9,587 8 Residential first mortgages 537 2 545 2 Residential rentals 224 1 227 1 Construction and land development 981 3 3,777 4 Commercial loans 665 3 872 5 Commercial equipment 108 2 113 2 Total TDRs $ 11,981 20 $ 15,121 22 Less: TDRs included in non-accrual loans (1,753) (4) (4,673) (6) Total accrual TDR loans $ 10,228 16 $ 10,448 16 TDRs decreased $3.1 million from $15.1 million at December 31, 2016 to $12.0 million at June 30, 2017. TDRs that are included in non-accrual are classified solely as non-accrual loans for the calculation of financial ratios. The Company had specific reserves of $728,000 on nine TDRs totaling $5.8 million at June 30, 2017 and $844,000 on nine TDRs totaling $5.7 million at December 31, 2016. Interest income in the amount of $181,000 and $357,000 was recognized on outstanding TDR loans for the six months ended June 30, 2017 and the year ended December 31, 2016, respectively. During the six months ended June 30, 2017, TDR disposals, which included payoffs and refinancing decreased by one loan of $167,000 and TDR loan principal curtailment was $177,000 . In addition, TDRs declined by $2.8 million in the three months ended June 30, 2017, due to the foreclosure of a stalled residential development project. There were no TDRs added during the six months ended June 30, 2017 . One TDR loan was refinanced during the six months ended June 30, 2017 from a commercial loan to a commercial mortgage. This loan remains a TDR as of June 30, 2017 . During the year ended December 31, 2016 the Company added one TDR loan totaling $196,000 . TDR disposals, which included payoffs and refinancing for the year ended December 31, 2016 decreased by nine loans or $2.1 million. TDR loan principal curtailment was $1.6 million for the year ended December 31, 2016. Allowance for Loan Losses The following tables detail activity in the allowance for loan losses at and for the three and six months ended June 30, 2017 and 2016, respectively. An allocation of the allowance to one category of loans does not prevent the Company from using that allowance to absorb losses in a different category. June 30, 2017 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Three Months Ended Commercial real estate $ 5,179 $ - $ 4 $ 902 $ 6,085 Residential first mortgages 1,428 - - (128) 1,300 Residential rentals 354 (42) - 23 335 Construction and land development 891 (25) - (146) 720 Home equity and second mortgages 76 (1) - 37 112 Commercial loans 789 - - 25 814 Consumer loans 5 - - - 5 Commercial equipment 1,387 - 13 (337) 1,063 $ 10,109 $ (68) $ 17 $ 376 $ 10,434 Six Months Ended Commercial real estate $ 5,212 $ - $ 9 $ 864 $ 6,085 Residential first mortgages 1,406 - - (106) 1,300 Residential rentals 362 (42) - 15 335 Construction and land development 941 (25) - (196) 720 Home equity and second mortgages 138 (1) - (25) 112 Commercial loans 794 - 1 19 814 Consumer loans 3 (2) - 4 5 Commercial equipment 1,004 (146) 24 181 1,063 $ 9,860 $ (216) $ 34 $ 756 $ 10,434 June 30, 2016 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Three Months Ended Commercial real estate $ 3,838 $ - $ 3 $ 539 $ 4,380 Residential first mortgages 591 - - 344 935 Residential rentals 590 - - 23 613 Construction and land development 1,129 - - (85) 1,044 Home equity and second mortgages 134 - - 7 141 Commercial loans 1,046 (69) 8 (276) 709 Consumer loans 1 - - 1 2 Commercial equipment 1,262 - 9 11 1,282 $ 8,591 $ (69) $ 20 $ 564 $ 9,106 Six Months Ended Commercial real estate $ 3,465 $ - $ 5 $ 910 $ 4,380 Residential first mortgages 584 - - 351 935 Residential rentals 538 - - 75 613 Construction and land development 1,103 (73) 1 13 1,044 Home equity and second mortgages 142 - 5 (6) 141 Commercial loans 1,477 (394) 11 (385) 709 Consumer loans 2 (1) - 1 2 Commercial equipment 1,229 - 21 32 1,282 $ 8,540 $ (468) $ 43 $ 991 $ 9,106 The following tables detail loan receivable and allowance balances disaggregated on the basis of the Company’s impairment methodology at June 30, 2017 and 2016 and December 31, 2016. June 30, 2017 December 31, 2016 June 30, 2016 (dollars in thousands) Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Total Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Total Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Total Loan Receivables: Commercial real estate $ 20,066 $ 693,723 $ 713,789 $ 21,977 $ 645,128 $ 667,105 $ 22,414 $ 585,966 $ 608,380 Residential first mortgages 2,291 179,095 181,386 2,413 168,591 171,004 2,957 145,181 148,138 Residential rentals 2,686 100,675 103,361 3,028 98,869 101,897 3,591 96,611 100,202 Construction and land development 981 31,622 32,603 3,777 33,157 36,934 4,370 31,190 35,560 Home equity and second mortgages 109 20,738 20,847 170 21,229 21,399 109 21,995 22,104 Commercial loans 2,973 52,050 55,023 3,204 47,280 50,484 4,227 52,940 57,167 Consumer loans - 412 412 - 422 422 - 332 332 Commercial equipment 599 33,990 34,589 791 38,946 39,737 816 32,369 33,185 $ 29,705 $ 1,112,305 $ 1,142,010 $ 35,360 $ 1,053,622 $ 1,088,982 $ 38,484 $ 966,584 $ 1,005,068 Allowance for loan losses: Commercial real estate $ 693 $ 5,392 $ 6,085 $ 806 $ 4,406 $ 5,212 $ 582 $ 3,798 $ 4,380 Residential first mortgages 11 1,289 1,300 7 1,399 1,406 20 915 935 Residential rentals 23 312 335 36 326 362 53 560 613 Construction and land development 163 557 720 178 763 941 398 646 1,044 Home equity and second mortgages - 112 112 - 138 138 - 141 141 Commercial loans 169 645 814 123 671 794 5 704 709 Consumer loans - 5 5 - 3 3 - 2 2 Commercial equipment 417 646 1,063 139 865 1,004 165 1,117 1,282 $ 1,476 $ 8,958 $ 10,434 $ 1,289 $ 8,571 $ 9,860 $ 1,223 $ 7,883 $ 9,106 During the fourth quarter of 2016, the Company expanded its factor scoring categories from three levels to five levels to capture additional movements in qualitative factors used to calculate the general allowance of each portfolio segment. No additional qualitative factors were added to the Company’s methodology as part of this change. There were no material changes to the existing allowance for loan losses by portfolio segment or in the aggregate as a result of the change. Credit Quality Indicators Credit quality indicators as of June 30, 2017 and December 31, 2016 were as follows: Credit Risk Profile by Internally Assigned Grade Commercial Real Estate Construction and Land Dev. Residential Rentals (dollars in thousands) 6/30/2017 12/31/2016 6/30/2017 12/31/2016 6/30/2017 12/31/2016 Unrated $ 53,423 $ 51,503 $ 1,820 $ 1,632 $ 26,256 $ 25,563 Pass 639,970 594,768 29,801 31,525 76,063 74,989 Special mention 1,019 - - - - - Substandard 19,377 20,834 982 3,777 1,042 1,345 Doubtful - - - - - - Loss - - - - - - Total $ 713,789 $ 667,105 $ 32,603 $ 36,934 $ 103,361 $ 101,897 Commercial Loans Commercial Equipment Total Commercial Portfolios (dollars in thousands) 6/30/2017 12/31/2016 6/30/2017 12/31/2016 6/30/2017 12/31/2016 Unrated $ 11,586 $ 11,266 $ 10,068 $ 11,769 $ 103,153 $ 101,733 Pass 40,503 36,221 24,030 27,290 810,367 764,793 Special mention - - - - 1,019 - Substandard 2,934 2,997 491 541 24,826 29,494 Doubtful - - - 137 - 137 Loss - - - - - - Total $ 55,023 $ 50,484 $ 34,589 $ 39,737 $ 939,365 $ 896,157 Credit Risk Profile Based on Payment Activity Residential First Mortgages Home Equity and Second Mtg. Consumer Loans (dollars in thousands) 6/30/2017 12/31/2016 6/30/2017 12/31/2016 6/30/2017 12/31/2016 Performing $ 181,098 $ 170,381 $ 20,795 $ 21,338 $ 412 $ 422 Nonperforming 288 623 52 61 - - Total $ 181,386 $ 171,004 $ 20,847 $ 21,399 $ 412 $ 422 A risk grading scale is used to assign grades to commercial relationships, which include commercial real estate, residential rentals, construction and land development, commercial loans and commercial equipment loans. Loans are graded at inception, annually thereafter when financial statements are received and at other times when there is an indication that a credit may have weakened or improved. Only commercial loan relationships with an aggregate exposure to the Bank of $750,000 or greater are subject to being risk rated. Home equity and second mortgages and consumer loans are evaluated for creditworthiness in underwriting and are monitored based on borrower payment history. Residential first mortgages are evaluated for creditworthiness during credit due diligence before being purchased. Residential first mortgages, home equity and second mortgages and consumer loans are classified as unrated unless they are part of a larger commercial relationship that requires grading or are troubled debt restructures or nonperforming loans with an Other Assets Especially Mentioned (“OAEM”) or higher risk rating due to a delinquent payment history. Management regularly reviews credit quality indicators as part of its individual loan reviews and on a monthly and quarterly basis. The overall quality of the Bank’s loan portfolio is assessed using the Bank’s risk grading scale, the level and trends of net charge-offs, nonperforming loans and delinquencies, the performance of troubled debt restructured loans and the general economic conditions in the Company’s geographical market. This review process is assisted by frequent internal reporting of loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans. Credit quality indicators and allowance factors are adjusted based on management’s judgment during the monthly and quarterly review process. Loans subject to risk ratings are graded on a scale of one to ten. The Company considers loans classified substandard, doubtful and loss as classified assets for regulatory and financial reporting. Ratings 1 thru 6 - Pass Ratings 1 thru 6 have asset risks ranging from excellent low risk to adequate. The specific rating assigned considers customer history of earnings, cash flows, liquidity, leverage, capitalization, consistency of debt service coverage, the nature and extent of customer relationship and other relevant specific business factors such as the stability of the industry or market area, changes to management, litigation or unexpected events that could have an impact on risks. Rating 7 - OAEM (Other Assets Especially Mentioned) – Special Mention These credits, while protected by the financial strength of the borrowers, guarantors or collateral, have reduced quality due to economic conditions, less than adequate earnings performance or other factors which require the lending officer to direct more than normal attention to the credit. Financing alternatives may be limited and/or command higher risk interest rates. OAEM loans are the first adversely classified assets on our watch list. These relationships will be reviewed at least quarterly. Rating 8 - Substandard Substandard assets are assets that are inadequately protected by the sound worth or paying capacity of the borrower or of the collateral pledged. These assets have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the possibility that the Bank will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard. The loans may have a delinquent history or combination of weak collateral, weak guarantor strength or operating losses. When a loan is assigned to this category the Bank may estimate a specific reserve in the loan loss allowance analysis. These assets listed may include assets with histories of repossessions or some that are non-performing bankruptcies. These relationships will be reviewed at least quarterly. Rating 9 - Doubtful Doubtful assets have many of the same characteristics of Substandard with the exception that the Bank has determined that loss is not only possible but is probable and the risk is close to certain that loss will occur. When a loan is assigned to this category the Bank will identify the probable loss and the loan will receive a specific reserve in the loan loss allowance analysis. These relationships will be reviewed at least quarterly. Rating 10 – Loss Once an asset is identified as a definite loss to the Bank, it will receive the classification of “loss”. There may be some future potential recovery; however it is more practical to write off the loan at the time of classification. Losses will be taken in the period in which they are determined to be uncollectable. |
Regulatory
Regulatory | 6 Months Ended |
Jun. 30, 2017 | |
Regulatory [Abstract] | |
Regulatory | NOTE 12 - REGULATORY Until April 18, 2016, the Bank was a member of the Federal Reserve System and its primary federal regulator was the Federal Reserve Board. As of that date, Community Bank of the Chesapeake, cancelled its stock in the Federal Reserve Bank of Richmond and terminated its status as a member of the Federal Reserve System. As of that date, the Bank’s primary regulator became the Federal Deposit Insurance Corporation (“FDIC”) , subject to regulation, supervision and regular examination by the Maryland Commissioner of Financial Regulation (the “Commissioner”) and the FDIC. The Company continues to be subject to regulation, examination and supervision by the Federal Reserve Board under the Bank Holding Company Act of 1956, as amended (the “BHCA”), and the regulations of the Federal Reserve Board. On January 1, 2015, the Company and Bank became subject to the new Basel III Capital Rules with full compliance with all of the final rule's requirements phased in over a multi-year schedule, to be fully phased-in by January 1, 2019. In July 2013, the final rules were published (the “Basel III Capital Rules”) establishing a new comprehensive capital framework for U.S. banking organizations. The rules implement the Basel Committee’s December 2010 framework known as “Basel III” for strengthening international capital standards as well as certain provisions of the Dodd-Frank Act. The Basel III Capital Rules substantially revise the risk-based capital requirements applicable to bank holding companies and depository institutions compared to the previous U.S. risk-based capital rules. The Basel III Capital Rules define the components of capital and address other issues affecting the numerator in banking institutions’ regulatory capital ratios. The Basel III Capital Rules also address risk weights and other issues affecting the denominator in banking institutions’ regulatory capital ratios and replace the existing risk-weighting approach with a more risk-sensitive approach. The Basel III Capital Rules also implement the requirements of Section 939A of the Dodd-Frank Act to remove references to credit ratings from the federal banking agencies’ rules. The rules include a new common equity Tier 1 capital to risk-weighted assets minimum ratio of 4.5%, raise the minimum ratio of Tier 1 capital to risk-weighted assets from 4.0% to 6.0%, require a minimum ratio (“Min. Ratio”) of Total Capital to risk-weighted assets of 8.0%, and require a minimum Tier 1 leverage ratio of 4.0%. A new capital conservation buffer (“CCB”) is also established above the regulatory minimum capital requirements. This capital conservation buffer began its phase-in period beginning January 1, 2016 at 0.625% of risk-weighted assets and will increase each subsequent year by an additional 0.625% until reaching its final level of 2.5% on January 1, 2019. Strict eligibility criteria for regulatory capital instruments were also implemented under the final rules. The final rules also revise the definition and calculation of Tier 1 capital, Total Capital, and risk-weighted assets. As of June 30, 2017 and December 31, 2016, the Company and Bank were well-capitalized under the regulatory framework for prompt corrective action under the new Basel III Capital Rules. Management believes, as of June 30, 2017 and December 31, 2016, that the Company and the Bank met all capital adequacy requirements to which they were subject. The Company’s and the Bank’s actual regulatory capital amounts and ratios are presented in the following table. Regulatory Capital and Ratios The Company The Bank (dollars in thousands) June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Common Equity $ 109,293 $ 104,426 $ 138,385 $ 136,109 AOCI Losses 489 928 489 928 Common Equity Tier 1 Capital 109,782 105,354 138,874 137,037 TRUPs 12,000 12,000 - - Tier 1 Capital 121,782 117,354 138,874 137,037 Allowable Reserve for Credit Losses and Other Tier 2 Adjustments 10,454 9,860 10,454 9,860 Subordinated Notes 23,000 23,000 - - Tier 2 Capital $ 155,236 $ 150,214 $ 149,328 $ 146,897 Risk-Weighted Assets ("RWA") $ 1,131,264 $ 1,104,505 $ 1,127,902 $ 1,102,116 Average Assets ("AA") $ 1,376,625 $ 1,300,445 $ 1,373,665 $ 1,298,145 2019 Regulatory Min. Ratio + CCB (1) Common Tier 1 Capital to RWA 7.00 % 9.70 % 9.54 % 12.31 % 12.43 % Tier 1 Capital to RWA 8.50 10.77 10.62 12.31 12.43 Tier 2 Capital to RWA 10.50 13.72 13.60 13.24 13.33 Tier 1 Capital to AA (Leverage) n/a 8.85 9.02 10.11 10.56 (1) These are the fully phased-in ratios as of January 1, 2019 that include the minimum capital ratio ("Min. Ratio") + the capital conservation buffer ("CCB"). The phase-in period is more fully described in the footnote above. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | NOTE 13 - FAIR VALUE MEASUREMENTS The Company adopted FASB ASC Topic 820, “Fair Value Measurements” and FASB ASC Topic 825, “The Fair Value Option for Financial Assets and Financial Liabilities” , which provides a framework for measuring and disclosing fair value under generally accepted accounting principles. FASB ASC Topic 820 requires disclosures about the fair value of assets and liabilities recognized in the balance sheet in periods subsequent to initial recognition, whether the measurements are made on a recurring basis (for example, available for sale investment securities) or on a nonrecurring basis (for example, impaired loans). FASB ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC Topic 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis such as loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. Under FASB ASC Topic 820, the Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine the fair value. These hierarchy levels are: Level 1 inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Level 2 inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s quarterly valuation process. Transfers in and out of level 3 during a quarter are disclosed. There was one transfer from Level 2 to Level 3 in the fair value hierarchy for the three months ended March 31, 2017 for premises and equipment held for sale. This asset was sold during the three months ended June 30, 2017. There were no transfers between Level 1, 2 or 3 in the fair value hierarchy for the year ended December 31, 2016. The Company changed its presentation during the year ended December 31, 2016, for loans and OREO from Level 2 to Level 3. No changes were made to the Company’s valuation methodologies as a result of these changes. Comparative financial information was reclassified to conform to the classification presented in 2016. Following is a description of valuation methodologies used for assets and liabilities recorded at fair value: Securities Available for Sale Investment securities available for sale are recorded at fair value on a recurring basis. Standard inputs include quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities (“GSEs”), municipal bonds and corporate debt securities. Securities classified as Level 3 include asset-backed securities in less liquid markets. Loans Receivable The Company does not record loans at fair value on a recurring basis, however, from time to time, a loan is considered impaired and an allowance for loan loss is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan are considered impaired. Management estimates the fair value of impaired loans using one of several methods, including the collateral value, market value of similar debt, enterprise value, liquidation value and discounted cash flows. Impaired loans not requiring a specific allowance represent loans for which the fair value of expected repayments or collateral exceed the recorded investment in such loans. At June 30, 2017 and December 31, 2016, substantially all of the impaired loans were evaluated based upon the fair value of the collateral. In accordance with FASB ASC 820, impaired loans where an allowance is established based on the fair value of collateral (loans with impairment) require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price (e.g., contracted sales price), the Company records the loan as nonrecurring Level 2. When the fair value of the impaired loan is derived from an appraisal, the Company records the loan as nonrecurring Level 3. Fair value is re-assessed at least quarterly or more frequently when circumstances occur that indicate a change in the fair value. The fair values of impaired loans that are not measured based on collateral values are measured using discounted cash flows and considered to be Level 3 inputs. Premises and Equipment Held For Sale Premises and equipment are adjusted to fair value upon transfer of the assets to premises and equipment held for sale. Subsequently, premises and equipment held for sale are carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised value of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price (e.g., contracted sales price), the Company records the asset as nonrecurring Level 2. When the fair value of premises and equipment is derived from an appraisal or a cash flow analysis, the Company records the asset at nonrecurring Level 3. As of December 31, 2016, the Company had a small office condo under contract held for sale with a fair value of $345,000 that was recorded as a non-recurring Level 2 asset at December 31, 2016. The contract on the property was cancelled during the three months ended March 31, 2017, and the asset was transferred and recorded as a non-recurring Level 3 asset. During the three months ended June 30, 2017, the property was sold for net proceeds of $ 392,000 with a gain on the sale of $47,000 . Other Real Estate Owned (“OREO”) OREO is adjusted for fair value upon transfer of the loans to foreclosed assets. Subsequently, OREO is carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised value of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price (e.g., contracted sales price), the Company records the foreclosed asset as nonrecurring Level 2. When the fair value is derived from an appraisal, the Company records the foreclosed asset at nonrecurring Level 3. Assets and Liabilities Recorded at Fair Value on a Recurring Basis The tables below present the recorded amount of assets as of June 30, 2017 and December 31, 2016 measured at fair value on a recurring basis. (dollars in thousands) June 30, 2017 Description of Asset Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 33,606 $ - $ 33,606 $ - MBS 6,146 - 6,146 - U.S. Agency 10,015 - 10,015 - Corporate equity securities 37 - 37 - Bond mutual funds 4,484 - 4,484 - Total available for sale securities $ 54,288 $ - $ 54,288 $ - (dollars in thousands) December 31, 2016 Description of Asset Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 34,228 $ - $ 34,228 $ - MBS 4,183 - 4,183 - U.S. Agency 10,172 - 10,172 - Corporate equity securities 37 - 37 - Bond mutual funds 4,413 - 4,413 - Total available for sale securities $ 53,033 $ - $ 53,033 $ - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Company may be required to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis as of June 30, 2017 and December 31, 2016 were included in the tables below. (dollars in thousands) June 30, 2017 Description of Asset Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 6,294 $ - $ - $ 6,294 Residential first mortgages 457 - - 457 Residential rentals 377 - - 377 Construction and land development 566 - - 566 Commercial equipment 74 - - 74 Total loans with impairment $ 7,768 $ - $ - $ 7,768 Other real estate owned $ 9,154 $ - $ - $ 9,154 (dollars in thousands) December 31, 2016 Description of Asset Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 6,275 $ - $ - $ 6,275 Residential first mortgages 468 - - 468 Residential rentals 142 - - 142 Construction and land development 673 - - 673 Commercial loans 77 - - 77 Total loans with impairment $ 7,635 $ - $ - $ 7,635 Premises and equipment held for sale $ 345 $ - $ 345 $ - Other real estate owned $ 7,763 $ - $ - $ 7,763 Loans with impairment had unpaid principal balances of $9.3 million a nd $ 8.9 million at June 30, 2017 and December 31, 2016, respectively, and include impaired loans with a specific allowance. The following tables provide information describing the unobservable inputs used in Level 3 fair value measurements at June 30, 2017 and December 31, 2016. June 30, 2017 (dollars in thousands) Description of Asset Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Loans with impairment $ 7,768 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 16% ) Other real estate owned $ 9,154 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 12% ) December 31, 2016 (dollars in thousands) Description of Asset Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Loans with impairment $ 7,635 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 14% ) Other real estate owned $ 7,763 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 12% ) |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Value of Financial Instruments | NOTE 14 - FAIR VALUE OF FINANCIAL INSTRUMENTS The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Therefore, any aggregate unrealized gains or losses should not be interpreted as a forecast of future earnings or cash flows. Furthermore, the fair values disclosed should not be interpreted as the aggregate current value of the Company. Valuation Methodology Investment securities - Fair values are based on quoted market prices or dealer quotes. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. FHLB and FRB stock – Fair values are at cost, which is the carrying value of the securities. Investment in bank owned life insurance (“BOLI”) – Fair values are at cash surrender value. Loans receivable – The fair values for non-impaired loans are estimated using discounted cash flow analyses, applying interest rates currently being offered for loans with similar terms and credit quality. Internal prepayment risk models are used to adjust contractual cash flows. Management estimates the fair value of impaired loans using one of several methods, including the collateral value, market value of similar debt, enterprise value, liquidation value and discounted cash flows. After evaluating the underlying collateral, the fair value is determined by allocating specific reserves from the allowance for loan losses to the impaired loans. Loans held for sale – Fair values are derived from secondary market quotations for similar instruments. There were no loans held for sale at June 30, 2017 and December 31, 2016. Deposits - The fair value of checking accounts, saving accounts and money market accounts were the amount payable on demand at the reporting date. Time certificates - The fair value was determined using the discounted cash flow method. The discount rate was equal to the rate currently offered on similar products. Long-term debt and short-term borrowings - These were valued using the discounted cash flow method. The discount rate was equal to the rate currently offered on similar borrowings. Guaranteed preferred beneficial interest in junior subordinated securities (TRUPs) - These were valued using discounted cash flows. The discount rate was equal to the rate currently offered on similar borrowings. Subordinated notes - These were valued using discounted cash flows. The discount rate was equal to the rate currently offered on similar borrowings. Off-balance sheet instruments - The Company charges fees for commitments to extend credit. Interest rates on loans for which these commitments are extended are normally committed for periods of less than one month. Fees charged on standby letters of credit and other financial guarantees are deemed to be immaterial and these guarantees are expected to be settled at face amount or expire unused. The Company’s estimated fair values of financial instruments are presented in the following tables. June 30, 2017 Fair Value Measurements Description of Asset (dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 54,288 $ 54,288 $ - $ 54,288 $ - Investment securities - HTM 106,842 106,775 1,000 105,775 - FHLB Stock 7,745 7,745 - 7,745 - Loans Receivable 1,132,429 1,098,387 - - 1,098,387 Investment in BOLI 29,011 29,011 - 29,011 - Liabilities Savings, NOW and money market accounts $ 638,819 $ 638,819 $ - $ 638,819 $ - Time deposits 448,987 449,761 - 449,761 - Long-term debt 65,529 67,999 - 67,999 - Short term borrowings 88,500 88,283 - 88,283 - TRUPs 12,000 8,500 - 8,500 - Subordinated notes 23,000 23,000 - 23,000 - December 31, 2016 Fair Value Measurements Description of Asset (dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 53,033 $ 53,033 $ - $ 53,033 $ - Investment securities - HTM 109,247 108,034 850 107,184 - FHLB Stock 7,235 7,235 - 7,235 - Loans Receivable 1,079,519 1,066,975 - - 1,066,975 Investment in BOLI 28,625 28,625 - 28,625 - Liabilities Savings, NOW and money market accounts $ 606,033 $ 606,033 $ - $ 606,033 $ - Time deposits 432,792 433,242 - 433,242 - Long-term debt 65,559 66,302 - 66,302 - Short term borrowings 79,000 78,984 - 78,984 - TRUPs 12,000 8,100 - 8,100 - Subordinated notes 23,000 23,000 - 23,000 - At June 30, 2017 and December 31, 2016, the Company had outstanding loan commitments and standby letters of credit of $62.5 million and $67.0 million, respectively and $17.4 million and $17.7 million, respectively. Additionally, at June 30, 2017 and December 31, 2016, customers had $155.5 million and $135.3 million, respectively, available and unused on lines of credit, which include lines of credit for commercial customers, home equity loans as well as builder and construction lines. Based on the short-term lives of these instruments, the Company does not believe that the fair value of these instruments differs significantly from their carrying values. The fair value estimates presented herein are based on pertinent information available to management as of June 30, 2017 and December 31, 2016, respectively. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since that date and, therefore, current estimates of fair value may differ significantly from the amount presented herein. |
New Accounting Standards
New Accounting Standards | 6 Months Ended |
Jun. 30, 2017 | |
New Accounting Standards [Abstract] | |
New Accounting Standards | NOTE 15 – NEW ACCOUNTING STANDARDS Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”). ASU 2014-09 - Revenue from Contracts with Customers (Topic 606); and additional guidance issued as follows : ASU No. 2016-08; ASU No. 2016-10, ASU No. 2016-12, ASU No. 2016-20. In May 2014, the FASB and the International Accounting Standards Board (the “IASB”) jointly issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under GAAP and International Financial Reporting Standards (“IFRS”). Previous revenue recognition guidance in GAAP consisted of broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. The additional ASUs were issued to clarify ASC Topic 606 during 2016 and defer the original effective date. ASU 2014-09 states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update affects entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards. The effective date for the ASUs is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted, but not before the original effective date of December 15, 2016. The standard permits the use of either the full retrospective or modified retrospective method. The Company expects to use the modified retrospective method effective January 1, 2018. Since the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the Company does not expect the new guidance to have a material impact on revenue most closely associated with financial instruments, including interest income and expense. The Company is evaluating the impact of the updates on the consolidated financial statements and believes the adoption will not have a material impact on the consolidated financial statement. The Company’s income from transactions in the scope of the update is insignificant. ASU 2016-01 - Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . ASU 2016-1, among other things, (i) requires equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (iv) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (v) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (viii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale. ASU 2016-1 will be effective on January 1, 2018 and the Company is evaluating its impact on the consolidated financial statements and will monitor developments and additional guidance. ASU 2016-02 - Leases (Topic 842 ). ASU 2016-02 requires lessees to recognize a lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 does not significantly change lease accounting requirements applicable to lessors; however, certain changes were made to align, where necessary, lessor accounting with the lessee accounting model and ASC Topic 606, “Revenue from Contracts with Customers.” ASU 2016-02 will be effective on January 1, 2019 and will require transition using a modified retrospective approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company has several lease agreements for its branch and loan production offices, which are currently considered operating leases, and not recognized on the Company’s consolidated balance sheet. The Company expects the new guidance will require these lease agreements to now be recognized on the consolidated balance sheet.as a right-of-use asset with a corresponding lease liability. The Company’s preliminary analysis is that there will be an impact to the Company’s consolidated balance sheet; however, the Company is continuing to evaluate the potential impact of ASU 2016-02 on the consolidated financial statements. ASU 2016-05 - Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. ASU 2016-05 clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under ASC Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. ASU 2016-05 was effective on January 1, 2017 and did not have a significant impact on the consolidated financial statements because the Company’s current operations do not include derivative and hedging contracts. A SU 2016-09 - Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 is intended to simplify how share-based payments are accounted for and presented in the financial statements. The key provisions include: (i) a company will no longer record excess tax benefits and certain tax deficiencies in additional paid-in capital (“APIC”). Instead all excess tax benefits and tax deficiencies will be reported as income tax expense or benefit in the income statement, and APIC pools will be eliminated. The guidance also eliminates the requirement that excess tax benefits be realized before companies can recognize them. In addition, the guidance requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity; (ii) a company can increase the amount of withholding to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer’s statutory income tax withholding obligation. The new guidance will also require an employer to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on its statement of cash flows (current guidance did not specify how these cash flows should be classified); and (iii) a company can elect an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards. Forfeitures can be estimated, as required today, or recognized when they occur. ASU No. 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted, but all of the guidance must be adopted in the same period. The Company adopted the guidance on January 1, 2017 and the impact was insignificant to income tax expense and deferred tax assets. In addition, the Company has elected to recognize forfeitures as they occur instead of estimating forfeitures as the previous guidance required. The update will result in a slight increase in volatility on income tax expense, depending on the amount and timing of share-based compensation award activity, such as the vesting of stock awards and the exercise of stock options. ASU 2016-13 - Measurement of Credit Losses on Financial Instruments. ASU No. 2016-13 significantly changes how entities will measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard will replace today’s “incurred loss” approach with an “expected loss” model. The new model, referred to as the current expected credit loss (“CECL”) model, will apply to: (1) financial assets subject to credit losses and measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL model does not apply to available-for-sale (“AFS”) debt securities. For AFS debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. As a result, entities will recognize improvements to estimated credit losses immediately in earnings rather than as interest income over time, as they do today. The ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. ASU 2016-13 also expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the allowance for loan and lease losses. In addition, entities will need to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU No. 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company is currently in the process of developing an understanding of ASU No. 2016-13 to evaluate the potential impact of this pronouncement on the Company's Consolidated Financial Statements and researching additional software resources that could assist with the implementation. ASU 2016-15 - Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 is intended to reduce diversity in practice in how eight particular transactions are classified in the statement of cash flows. ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted, provided that all of the amendments are adopted in the same period. Entities will be required to apply the guidance retrospectively. If it is impracticable to apply the guidance retrospectively for an issue, the amendments related to that issue would be applied prospectively. As this guidance only affects the classification within the statement of cash flows, ASU 2016-15 is not expected to have a material impact on the Company's Consolidated Financial Statements. ASU 2017-04 - Simplifying the Test for Goodwill Impairment (January 2017). This guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. ASU No. 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019, applied prospectively. Early adoption is permitted for any impairment tests performed after January 1, 2017. ASU No. 2017-04 is not expected to have a material impact on the Company’s Consolidated Financial Statements as the Company does not presently have the intangible asset goodwill. ASU 2017-07 - Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ( March 2017). Under this new guidance, employers will present the service cost component of the net periodic benefit cost in the same income statement line item (e.g., salary and employee benefits) as other employee compensation costs arising from services rendered during the period. In addition, only the service cost component will be eligible for capitalization in assets. Employers will present the other components separately (e.g., other noninterest expense) from the line item that includes the service cost. ASU No. 2017-07 is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted, however, the Company has decided not to early adopt. Employers will apply the guidance on the presentation of the components of net periodic benefit cost in the income statement retrospectively. The guidance limiting the capitalization of net periodic benefit cost in assets to the service cost component will be applied prospectively. The Company expects to utilize the ASU’s practical expedient which will allow the Company to estimate amounts for comparative periods using the information previously disclosed in their pension and other postretirement benefit plan footnote. ASU No. 2017-07 is not expected to have a material impact on the Company’s Consolidated Financial Statements. ASU 2017-08 - Premium Amortization on Purchased Callable Debt Securities (March 2017). This ASU shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. The new guidance does not change the accounting for purchased callable debt securities held at a discount; the discount continues to be amortized to maturity. ASU No. 2017-08 is effective for interim and annual reporting periods beginning after December 15, 2018; early adoption is permitted. The guidance calls for a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company has reviewed its securities portfolio and determined the application of this guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. The Company is evaluating the provisions of ASU No. 2017-08 to consider the impact of early adoption. |
Subsequent Event
Subsequent Event | 6 Months Ended |
Jun. 30, 2017 | |
Subsequent Event [Abstract] | |
Subsequent Event | NOTE 1 6 – SUBSEQUENT EVENT Proposed Acquisition of County First Bank On July 31, 2017, the Company and Community Bank of the Chesapeake entered into an Agreement and Plan of Merger with County First Bank (“County First”) which had total assets of $224 million, total deposits of $209 million, and five branch offices in La Plata, Waldorf, New Market, Prince Frederick and California, Maryland at June 30, 2017. Pending receipt of the necessary regulatory and County First shareholder approvals, the effectiveness of the registration statement on Form S-4 for the common stock to be issued in the merger, and the completion of certain additional customary closing conditions, the merger is currently expected to close in the fourth quarter of 2017 or the first quarter of 2018. Subject to the terms of, and conditions set forth in, the Agreement and Plan of Merger, County First will merge with and into Community Bank of the Chesapeake. Under the terms of the merger agreement, which was approved by the Boards of Directors of each company, upon completion of the merger, County First Bank shareholders will be entitled to receive 0.9543 shares of The Community Financial Corporation common stock and $1.00 in cash for each share of County First Bank common stock they hold. County First shareholders may also receive, in the aggregate, additional contingent cash consideration of up to $2,154,303 (representing a maximum potential per share value of $2.24 ) based upon the resolution of certain identified assets prior to closing. There can be no assurance that County First will sell, resolve or otherwise dispose of any of the identified assets or that County First shareholders will receive any contingent cash consideration. |
Accumulated Other Comprehensi24
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Accumulated Other Comprehensive Income [Abstract] | |
Schedule of Comprehensive Income (Loss) | The following tables present the components of comprehensive income for the three and six months ended June 30, 2017 and 2016. The Company’s “other comprehensive” income was solely related to securities for the three and six months ended June 30, 2017 and 2016. Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 (dollars in thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains arising during period $ 524 $ 206 $ 318 $ 141 $ 55 $ 86 Reclassification adjustments (9) (3) (6) (30) (10) (20) Other comprehensive income $ 515 $ 203 $ 312 $ 111 $ 45 $ 66 Six Months Ended June 30, 2017 Six Months Ended June, 2016 (dollars in thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains arising during period $ 734 $ 289 $ 445 $ 535 $ 210 $ 325 Reclassification adjustments (9) (3) (6) (30) (10) (20) Other comprehensive income $ 725 $ 286 $ 439 $ 505 $ 200 $ 305 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the three and six months ended June 30, 2017 and 2016. Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 Six Months Ended June 30, 2017 Six Months Ended June 30, 2016 (dollars in thousands) Net Unrealized Gains And Losses Net Unrealized Gains And Losses Net Unrealized Gains And Losses Net Unrealized Gains And Losses Beginning of period $ (801) $ (12) $ (928) $ (251) Other comprehensive gains, net of tax before reclassifications 318 86 445 325 Amounts reclassified from accumulated other comprehensive loss (6) (20) (6) (20) Net other comprehensive income 312 66 439 305 End of period $ (489) $ 54 $ (489) $ 54 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Three Months Ended Six Months Ended June 30, June 30, (dollars in thousands) 2017 2016 2017 2016 Net Income $ 2,543 $ 1,738 $ 4,885 $ 3,346 Average number of common shares outstanding 4,632,911 4,590,444 4,630,647 4,592,563 Dilutive effect of common stock equivalents 2,572 27,350 3,073 28,636 Average number of shares used to calculate diluted EPS 4,635,483 4,617,794 4,633,720 4,621,199 Earnings Per Common Share Basic $ 0.55 $ 0.38 $ 1.05 $ 0.73 Diluted 0.55 0.38 1.05 0.72 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Stock-Based Compensation [Abstract] | |
Summarization of outstanding and exercisable options | The following tables below summarize outstanding and exercisable options at June 30, 2017 and December 31, 2016. Weighted Weighted-Average Average Aggregate Contractual Life Exercise Intrinsic Remaining In (dollars in thousands, except per share amounts) Shares Price Value Years Outstanding at January 1, 2017 15,081 $ 27.70 $ - Exercised (13,181) 27.70 123 Forfeited (500) 27.70 - Outstanding at June 30, 2017 1,400 $ 27.70 $ 15 0.3 Exercisable at June 30, 2017 1,400 $ 27.70 $ 15 0.3 Weighted Weighted-Average Average Aggregate Contractual Life Exercise Intrinsic Remaining In (dollars in thousands, except per share amounts) Shares Price Value Years Outstanding at January 1, 2016 21,211 $ 27.70 $ - Forfeited (6,130) 27.70 Outstanding at December 31, 2016 15,081 $ 27.70 $ 20 0.5 Exercisable at December 31, 2016 15,081 $ 27.70 $ 20 0.5 |
Options outstanding are all currently exercisable and are summarized | Options outstanding are all currently exercisable and are summarized as follows: Shares Outstanding Weighted Average Weighted Average June 30, 2017 Remaining Contractual Life Exercise Price 1,400 less than 1 year $ 27.70 |
Summary of the unvested restricted stock awards outstanding | The following tables summarize the unvested restricted stock awards outstanding at June 30, 2017 and December 31, 2016, respectively. Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2017 47,881 $ 20.41 Granted 6,752 30.20 Vested (20,271) 20.09 Cancelled (86) 20.75 Nonvested at June 30, 2017 34,276 $ 22.53 Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2016 37,048 $ 19.83 Granted 27,403 21.00 Vested (15,912) 20.09 Cancelled (658) 20.31 Nonvested at December 31, 2016 47,881 $ 20.41 |
Other Real Estate Owned ("ORE27
Other Real Estate Owned ("OREO") (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Other Real Estate Owned ("OREO") [Abstract] | |
Analysis of OREO activity | NOTE 9 - OTHER REAL ESTATE OWNED (“OREO”) OREO assets are presented net of valuation allowances. The Company considers OREO as classified assets for regulatory and financial reporting. An analysis of OREO activity follows. Six Months Ended June 30, Years Ended December 31, (dollars in thousands) 2017 2016 2016 Balance at beginning of year $ 7,763 $ 9,449 $ 9,449 Additions of underlying property 2,772 2,718 3,120 Disposals of underlying property (1,068) (3,445) (3,860) Transfers to premises and equipment - - (372) Valuation allowance (313) (262) (574) Balance at end of period $ 9,154 $ 8,460 $ 7,763 |
Expenses applicable to OREO assets | Expenses applicable to OREO assets included the following. Three Months Ended June 30, Six Months Ended June 30, (dollars in thousands) 2017 2016 2017 2016 Valuation allowance $ 117 $ 7 $ 313 $ 262 Operating expenses 28 98 27 144 $ 145 $ 105 $ 340 $ 406 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Securities | June 30, 2017 Amortized Gross Unrealized Gross Unrealized Estimated (dollars in thousands) Cost Gains Losses Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential Mortgage Backed Securities ("MBS") $ 6,229 $ - $ 83 $ 6,146 Residential Collateralized Mortgage Obligations ("CMOs") 34,185 16 595 33,606 U.S. Agency 10,213 - 198 10,015 Corporate equity securities 37 - - 37 Bond mutual funds 4,432 52 - 4,484 Total securities available for sale $ 55,096 $ 68 $ 876 $ 54,288 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 30,612 $ 413 $ 74 $ 30,951 Residential CMOs 60,500 190 449 60,241 U.S. Agency 8,970 7 102 8,875 Asset-backed securities issued by Others: Residential CMOs 740 - 62 678 Callable GSE Agency Bonds 5,020 10 - 5,030 U.S. government obligations 1,000 - - 1,000 Total securities held to maturity $ 106,842 $ 620 $ 687 $ 106,775 December 31, 2016 Amortized Gross Unrealized Gross Unrealized Estimated (dollars in thousands) Cost Gains Losses Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 4,377 $ - $ 194 $ 4,183 Residential CMOs 35,176 18 966 34,228 U.S. Agency 10,589 - 417 10,172 Corporate equity securities 37 - - 37 Bond mutual funds 4,386 27 - 4,413 Total securities available for sale $ 54,565 $ 45 $ 1,577 $ 53,033 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 34,735 $ 367 $ 569 $ 34,533 Residential CMOs 63,060 135 802 62,393 U.S. Agency 6,717 - 253 6,464 Asset-backed securities issued by Others: Residential CMOs 884 - 81 803 Callable GSE Agency Bonds 3,001 - 10 2,991 U.S. government obligations 850 - - 850 Total securities held to maturity $ 109,247 $ 502 $ 1,715 $ 108,034 |
Credit Quality of Asset-Backed Securities and Agency Bonds | GSE asset-backed securities and GSE agency bonds with S&P AA+ ratings were treated as AAA based on regulatory guidance. June 30, 2017 December 31, 2016 Credit Rating Amount Credit Rating Amount (dollars in thousands) AAA $ 155,869 AAA $ 156,947 BB 740 BB 411 B+ - B+ 472 Total $ 156,609 Total $ 157,830 |
Held-To-Maturity Securities [Member] | |
Schedule of Unrealized Loss on Investments | Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at June 30, 2017 were as follows: June 30, 2017 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies 55,262 504 6,003 121 61,265 625 Asset-backed securities issued by Others - - 678 62 678 62 $ 55,262 $ 504 $ 6,681 $ 183 $ 61,943 $ 687 Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at December 31, 2016 were as follows: December 31, 2016 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies $ 77,879 $ 1,452 $ 6,340 $ 182 $ 84,219 $ 1,634 Asset-backed securities issued by Others - - 803 81 803 81 $ 77,879 $ 1,452 $ 7,143 $ 263 $ 85,022 $ 1,715 |
Available-For-Sale Securities [Member] | |
Schedule of Unrealized Loss on Investments | Gross unrealized losses and estimated fair value by length of time that the individual AFS securities have been in a continuous unrealized loss position at June 30, 2017 were as follows: June 30, 2017 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies $ 33,710 $ 536 $ 13,314 $ 340 $ 47,024 $ 876 Gross unrealized losses and estimated fair value by length of time that the individual AFS securities have been in a continuous unrealized loss position at December 31, 2016 were as follows: December 31, 2016 Less Than 12 More Than 12 Months Months Total (dollars in thousands) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Losses Asset-backed securities issued by GSEs and U.S. Agencies $ 34,262 $ 1,110 $ 11,846 $ 467 $ 46,108 $ 1,577 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans [Abstract] | |
Schedule of Loans Receivable | Loans consist of the following: (dollars in thousands) June 30, 2017 % December 31, 2016 % Commercial real estate $ 713,789 62.50% $ 667,105 61.25% Residential first mortgages 181,386 15.88% 171,004 15.70% Residential rentals 103,361 9.05% 101,897 9.36% Construction and land development 32,603 2.85% 36,934 3.39% Home equity and second mortgages 20,847 1.83% 21,399 1.97% Commercial loans 55,023 4.82% 50,484 4.64% Consumer loans 412 0.04% 422 0.04% Commercial equipment 34,589 3.03% 39,737 3.65% 1,142,010 100.00% 1,088,982 100.00% Less: Deferred loan fees and premiums (853) -0.07% (397) -0.04% Allowance for loan losses 10,434 0.91% 9,860 0.91% 9,581 9,463 $ 1,132,429 $ 1,079,519 |
Non-accrual loans | Non-accrual loans as of June 30, 2017 and December 31, 2016 were as follows: June 30, 2017 (dollars in thousands) 90 or Greater Days Delinquent Number of Loans Non-accrual Only Loans Number of Loans Total Non-accrual Loans Total Number of Loans Commercial real estate $ 2,015 7 $ - - $ 2,015 7 Residential first mortgages 288 3 - - 288 3 Residential rentals 332 3 - - 332 3 Construction and land development 252 1 - - 252 1 Home equity and second mortgages 52 2 - - 52 2 Commercial loans 376 3 660 2 1,036 5 Commercial equipment 467 3 - - 467 3 $ 3,782 22 $ 660 2 $ 4,442 24 December 31, 2016 (dollars in thousands) 90 or Greater Days Delinquent Number of Loans Non-accrual Only Loans Number of Loans Total Non-accrual Loans Total Number of Loans Commercial real estate $ 2,371 7 $ - - $ 2,371 7 Residential first mortgages 623 4 - - 623 4 Residential rentals 577 4 - - 577 4 Construction and land development 3,048 2 - - 3,048 2 Home equity and second mortgages 61 2 - - 61 2 Commercial loans 375 3 669 2 1,044 5 Commercial equipment 650 5 - - 650 5 $ 7,705 27 $ 669 2 $ 8,374 29 |
Past Due Financing Receivables | Past due loans as of June 30, 2017 and December 31, 2016 were as follows: June 30, 2017 (dollars in thousands) Current 31-60 Days 61-89 Days 90 or Greater Days Total Past Due Total Loan Receivables Loans > 90 Days and Accruing Commercial real estate $ 711,317 $ - $ 457 $ 2,015 $ 2,472 $ 713,789 $ - Residential first mortgages 180,762 - 336 288 624 181,386 - Residential rentals 102,945 - 84 332 416 103,361 - Construction and land dev. 32,351 - - 252 252 32,603 - Home equity and second mtg. 20,657 - 138 52 190 20,847 - Commercial loans 54,647 - - 376 376 55,023 - Consumer loans 412 - - - - 412 - Commercial equipment 34,056 39 27 467 533 34,589 - Total $ 1,137,147 $ 39 $ 1,042 $ 3,782 $ 4,863 $ 1,142,010 $ - December 31, 2016 (dollars in thousands) Current 31-60 Days 61-89 Days 90 or Greater Days Total Past Due Total Loan Receivables Loans > 90 Days and Accruing Commercial real estate $ 664,250 $ - $ 484 $ 2,371 $ 2,855 $ 667,105 $ - Residential first mortgages 170,381 - - 623 623 171,004 - Residential rentals 101,309 - 11 577 588 101,897 - Construction and land dev. 33,886 - - 3,048 3,048 36,934 - Home equity and second mtg. 21,175 130 33 61 224 21,399 - Commercial loans 49,778 331 - 375 706 50,484 - Consumer loans 420 - 2 - 2 422 - Commercial equipment 39,044 42 1 650 693 39,737 - Total $ 1,080,243 $ 503 $ 531 $ 7,705 $ 8,739 $ 1,088,982 $ - |
Impaired Loans, Including TDRs | Impaired Loans and Troubled Debt Restructures (“TDRs”) Impaired loans, including TDRs, at June 30, 2017 and 2016 and at December 31, 2016 were as follows: June 30, 2017 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Quarter Average Recorded Investment Quarter Interest Income Recognized YTD Average Recorded Investment YTD Interest Income Recognized Commercial real estate $ 20,277 $ 13,079 $ 6,987 $ 20,066 $ 693 $ 20,186 $ 198 $ 20,274 $ 417 Residential first mortgages 2,294 1,823 468 2,291 11 2,299 21 2,311 49 Residential rentals 2,758 2,286 400 2,686 23 2,693 27 2,731 56 Construction and land dev. 981 252 729 981 163 980 4 980 7 Home equity and second mtg. 109 109 - 109 - 110 1 111 2 Commercial loans 3,063 2,804 169 2,973 169 2,974 23 2,986 46 Commercial equipment 638 108 491 599 417 617 6 625 11 Total $ 30,120 $ 20,461 $ 9,244 $ 29,705 $ 1,476 $ 29,859 $ 280 $ 30,018 $ 588 December 31, 2016 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized Commercial real estate $ 22,195 $ 14,896 $ 7,081 $ 21,977 $ 806 $ 22,303 $ 908 Residential first mortgages 2,436 1,938 475 2,413 7 2,445 90 Residential rentals 3,440 2,850 178 3,028 36 3,486 134 Construction and land dev. 4,304 2,926 851 3,777 178 3,867 16 Home equity and second mtg. 170 170 - 170 - 176 7 Commercial loans 3,285 3,004 200 3,204 123 3,442 137 Commercial equipment 855 652 139 791 139 815 17 Total $ 36,685 $ 26,436 $ 8,924 $ 35,360 $ 1,289 $ 36,534 $ 1,309 June 30, 2016 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Quarter Average Recorded Investment Quarter Interest Income Recognized YTD Average Recorded Investment YTD Interest Income Recognized Commercial real estate $ 22,444 $ 20,010 $ 2,404 $ 22,414 $ 582 $ 22,503 $ 243 $ 22,724 $ 420 Residential first mortgages 2,957 2,472 485 2,957 20 2,982 23 2,990 51 Residential rentals 3,987 3,352 239 3,591 53 3,747 42 3,798 67 Construction and land dev. 4,443 3,939 431 4,370 398 4,317 4 4,264 7 Home equity and second mtg. 109 109 - 109 - 109 1 108 2 Commercial loans 4,551 4,222 5 4,227 5 4,237 36 4,238 69 Commercial equipment 839 623 193 816 165 828 5 840 11 Total $ 39,330 $ 34,727 $ 3,757 $ 38,484 $ 1,223 $ 38,723 $ 354 $ 38,962 $ 627 |
TDRs, Included in Impaired Loans Schedule | TDRs, included in the impaired loan schedules above, as of June 30, 2017 and December 31, 2016 were as follows: June 30, 2017 December 31, 2016 (dollars in thousands) Dollars Number of Loans Dollars Number of Loans Commercial real estate $ 9,466 9 $ 9,587 8 Residential first mortgages 537 2 545 2 Residential rentals 224 1 227 1 Construction and land development 981 3 3,777 4 Commercial loans 665 3 872 5 Commercial equipment 108 2 113 2 Total TDRs $ 11,981 20 $ 15,121 22 Less: TDRs included in non-accrual loans (1,753) (4) (4,673) (6) Total accrual TDR loans $ 10,228 16 $ 10,448 16 |
Allowance for Credit Losses on Financing Receivables | The following tables detail activity in the allowance for loan losses at and for the three and six months ended June 30, 2017 and 2016, respectively. An allocation of the allowance to one category of loans does not prevent the Company from using that allowance to absorb losses in a different category. June 30, 2017 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Three Months Ended Commercial real estate $ 5,179 $ - $ 4 $ 902 $ 6,085 Residential first mortgages 1,428 - - (128) 1,300 Residential rentals 354 (42) - 23 335 Construction and land development 891 (25) - (146) 720 Home equity and second mortgages 76 (1) - 37 112 Commercial loans 789 - - 25 814 Consumer loans 5 - - - 5 Commercial equipment 1,387 - 13 (337) 1,063 $ 10,109 $ (68) $ 17 $ 376 $ 10,434 Six Months Ended Commercial real estate $ 5,212 $ - $ 9 $ 864 $ 6,085 Residential first mortgages 1,406 - - (106) 1,300 Residential rentals 362 (42) - 15 335 Construction and land development 941 (25) - (196) 720 Home equity and second mortgages 138 (1) - (25) 112 Commercial loans 794 - 1 19 814 Consumer loans 3 (2) - 4 5 Commercial equipment 1,004 (146) 24 181 1,063 $ 9,860 $ (216) $ 34 $ 756 $ 10,434 June 30, 2016 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Three Months Ended Commercial real estate $ 3,838 $ - $ 3 $ 539 $ 4,380 Residential first mortgages 591 - - 344 935 Residential rentals 590 - - 23 613 Construction and land development 1,129 - - (85) 1,044 Home equity and second mortgages 134 - - 7 141 Commercial loans 1,046 (69) 8 (276) 709 Consumer loans 1 - - 1 2 Commercial equipment 1,262 - 9 11 1,282 $ 8,591 $ (69) $ 20 $ 564 $ 9,106 Six Months Ended Commercial real estate $ 3,465 $ - $ 5 $ 910 $ 4,380 Residential first mortgages 584 - - 351 935 Residential rentals 538 - - 75 613 Construction and land development 1,103 (73) 1 13 1,044 Home equity and second mortgages 142 - 5 (6) 141 Commercial loans 1,477 (394) 11 (385) 709 Consumer loans 2 (1) - 1 2 Commercial equipment 1,229 - 21 32 1,282 $ 8,540 $ (468) $ 43 $ 991 $ 9,106 The following tables detail loan receivable and allowance balances disaggregated on the basis of the Company’s impairment methodology at June 30, 2017 and 2016 and December 31, 2016. June 30, 2017 December 31, 2016 June 30, 2016 (dollars in thousands) Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Total Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Total Ending balance: individually evaluated for impairment Ending balance: collectively evaluated for impairment Total Loan Receivables: Commercial real estate $ 20,066 $ 693,723 $ 713,789 $ 21,977 $ 645,128 $ 667,105 $ 22,414 $ 585,966 $ 608,380 Residential first mortgages 2,291 179,095 181,386 2,413 168,591 171,004 2,957 145,181 148,138 Residential rentals 2,686 100,675 103,361 3,028 98,869 101,897 3,591 96,611 100,202 Construction and land development 981 31,622 32,603 3,777 33,157 36,934 4,370 31,190 35,560 Home equity and second mortgages 109 20,738 20,847 170 21,229 21,399 109 21,995 22,104 Commercial loans 2,973 52,050 55,023 3,204 47,280 50,484 4,227 52,940 57,167 Consumer loans - 412 412 - 422 422 - 332 332 Commercial equipment 599 33,990 34,589 791 38,946 39,737 816 32,369 33,185 $ 29,705 $ 1,112,305 $ 1,142,010 $ 35,360 $ 1,053,622 $ 1,088,982 $ 38,484 $ 966,584 $ 1,005,068 Allowance for loan losses: Commercial real estate $ 693 $ 5,392 $ 6,085 $ 806 $ 4,406 $ 5,212 $ 582 $ 3,798 $ 4,380 Residential first mortgages 11 1,289 1,300 7 1,399 1,406 20 915 935 Residential rentals 23 312 335 36 326 362 53 560 613 Construction and land development 163 557 720 178 763 941 398 646 1,044 Home equity and second mortgages - 112 112 - 138 138 - 141 141 Commercial loans 169 645 814 123 671 794 5 704 709 Consumer loans - 5 5 - 3 3 - 2 2 Commercial equipment 417 646 1,063 139 865 1,004 165 1,117 1,282 $ 1,476 $ 8,958 $ 10,434 $ 1,289 $ 8,571 $ 9,860 $ 1,223 $ 7,883 $ 9,106 |
Credit Quality Indicators | Credit quality indicators as of June 30, 2017 and December 31, 2016 were as follows: Credit Risk Profile by Internally Assigned Grade Commercial Real Estate Construction and Land Dev. Residential Rentals (dollars in thousands) 6/30/2017 12/31/2016 6/30/2017 12/31/2016 6/30/2017 12/31/2016 Unrated $ 53,423 $ 51,503 $ 1,820 $ 1,632 $ 26,256 $ 25,563 Pass 639,970 594,768 29,801 31,525 76,063 74,989 Special mention 1,019 - - - - - Substandard 19,377 20,834 982 3,777 1,042 1,345 Doubtful - - - - - - Loss - - - - - - Total $ 713,789 $ 667,105 $ 32,603 $ 36,934 $ 103,361 $ 101,897 Commercial Loans Commercial Equipment Total Commercial Portfolios (dollars in thousands) 6/30/2017 12/31/2016 6/30/2017 12/31/2016 6/30/2017 12/31/2016 Unrated $ 11,586 $ 11,266 $ 10,068 $ 11,769 $ 103,153 $ 101,733 Pass 40,503 36,221 24,030 27,290 810,367 764,793 Special mention - - - - 1,019 - Substandard 2,934 2,997 491 541 24,826 29,494 Doubtful - - - 137 - 137 Loss - - - - - - Total $ 55,023 $ 50,484 $ 34,589 $ 39,737 $ 939,365 $ 896,157 Credit Risk Profile Based on Payment Activity Residential First Mortgages Home Equity and Second Mtg. Consumer Loans (dollars in thousands) 6/30/2017 12/31/2016 6/30/2017 12/31/2016 6/30/2017 12/31/2016 Performing $ 181,098 $ 170,381 $ 20,795 $ 21,338 $ 412 $ 422 Nonperforming 288 623 52 61 - - Total $ 181,386 $ 171,004 $ 20,847 $ 21,399 $ 412 $ 422 |
Regulatory (Tables)
Regulatory (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Regulatory [Abstract] | |
Regulatory Matters | The Company’s and the Bank’s actual regulatory capital amounts and ratios are presented in the following table. Regulatory Capital and Ratios The Company The Bank (dollars in thousands) June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Common Equity $ 109,293 $ 104,426 $ 138,385 $ 136,109 AOCI Losses 489 928 489 928 Common Equity Tier 1 Capital 109,782 105,354 138,874 137,037 TRUPs 12,000 12,000 - - Tier 1 Capital 121,782 117,354 138,874 137,037 Allowable Reserve for Credit Losses and Other Tier 2 Adjustments 10,454 9,860 10,454 9,860 Subordinated Notes 23,000 23,000 - - Tier 2 Capital $ 155,236 $ 150,214 $ 149,328 $ 146,897 Risk-Weighted Assets ("RWA") $ 1,131,264 $ 1,104,505 $ 1,127,902 $ 1,102,116 Average Assets ("AA") $ 1,376,625 $ 1,300,445 $ 1,373,665 $ 1,298,145 2019 Regulatory Min. Ratio + CCB (1) Common Tier 1 Capital to RWA 7.00 % 9.70 % 9.54 % 12.31 % 12.43 % Tier 1 Capital to RWA 8.50 10.77 10.62 12.31 12.43 Tier 2 Capital to RWA 10.50 13.72 13.60 13.24 13.33 Tier 1 Capital to AA (Leverage) n/a 8.85 9.02 10.11 10.56 (1) These are the fully phased-in ratios as of January 1, 2019 that include the minimum capital ratio ("Min. Ratio") + the capital conservation buffer ("CCB"). The phase-in period is more fully described in the footnote above. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Measurements [Abstract] | |
Fair Value, Assets Measured on Recurring Basis | The tables below present the recorded amount of assets as of June 30, 2017 and December 31, 2016 measured at fair value on a recurring basis. (dollars in thousands) June 30, 2017 Description of Asset Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 33,606 $ - $ 33,606 $ - MBS 6,146 - 6,146 - U.S. Agency 10,015 - 10,015 - Corporate equity securities 37 - 37 - Bond mutual funds 4,484 - 4,484 - Total available for sale securities $ 54,288 $ - $ 54,288 $ - (dollars in thousands) December 31, 2016 Description of Asset Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 34,228 $ - $ 34,228 $ - MBS 4,183 - 4,183 - U.S. Agency 10,172 - 10,172 - Corporate equity securities 37 - 37 - Bond mutual funds 4,413 - 4,413 - Total available for sale securities $ 53,033 $ - $ 53,033 $ - |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | (dollars in thousands) June 30, 2017 Description of Asset Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 6,294 $ - $ - $ 6,294 Residential first mortgages 457 - - 457 Residential rentals 377 - - 377 Construction and land development 566 - - 566 Commercial equipment 74 - - 74 Total loans with impairment $ 7,768 $ - $ - $ 7,768 Other real estate owned $ 9,154 $ - $ - $ 9,154 (dollars in thousands) December 31, 2016 Description of Asset Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 6,275 $ - $ - $ 6,275 Residential first mortgages 468 - - 468 Residential rentals 142 - - 142 Construction and land development 673 - - 673 Commercial loans 77 - - 77 Total loans with impairment $ 7,635 $ - $ - $ 7,635 Premises and equipment held for sale $ 345 $ - $ 345 $ - Other real estate owned $ 7,763 $ - $ - $ 7,763 |
Unobservable Inputs Used In Level 3 Fair Value Measurements Table | The following tables provide information describing the unobservable inputs used in Level 3 fair value measurements at June 30, 2017 and December 31, 2016. June 30, 2017 (dollars in thousands) Description of Asset Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Loans with impairment $ 7,768 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 16% ) Other real estate owned $ 9,154 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 12% ) December 31, 2016 (dollars in thousands) Description of Asset Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Loans with impairment $ 7,635 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 14% ) Other real estate owned $ 7,763 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0% -50% ( 12% ) |
Fair Value of Financial Instr32
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Value, by Balance Sheet Grouping | June 30, 2017 Fair Value Measurements Description of Asset (dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 54,288 $ 54,288 $ - $ 54,288 $ - Investment securities - HTM 106,842 106,775 1,000 105,775 - FHLB Stock 7,745 7,745 - 7,745 - Loans Receivable 1,132,429 1,098,387 - - 1,098,387 Investment in BOLI 29,011 29,011 - 29,011 - Liabilities Savings, NOW and money market accounts $ 638,819 $ 638,819 $ - $ 638,819 $ - Time deposits 448,987 449,761 - 449,761 - Long-term debt 65,529 67,999 - 67,999 - Short term borrowings 88,500 88,283 - 88,283 - TRUPs 12,000 8,500 - 8,500 - Subordinated notes 23,000 23,000 - 23,000 - December 31, 2016 Fair Value Measurements Description of Asset (dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 53,033 $ 53,033 $ - $ 53,033 $ - Investment securities - HTM 109,247 108,034 850 107,184 - FHLB Stock 7,235 7,235 - 7,235 - Loans Receivable 1,079,519 1,066,975 - - 1,066,975 Investment in BOLI 28,625 28,625 - 28,625 - Liabilities Savings, NOW and money market accounts $ 606,033 $ 606,033 $ - $ 606,033 $ - Time deposits 432,792 433,242 - 433,242 - Long-term debt 65,559 66,302 - 66,302 - Short term borrowings 79,000 78,984 - 78,984 - TRUPs 12,000 8,100 - 8,100 - Subordinated notes 23,000 23,000 - 23,000 - |
Accumulated Other Comprehensi33
Accumulated Other Comprehensive Income (Schedule of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income [Abstract] | ||||
Net unrealized holding gains arising during period, before tax | $ 524 | $ 141 | $ 734 | $ 535 |
Reclassification adjustments, before tax | (9) | (30) | (9) | (30) |
Other comprehensive gain, before tax | 515 | 111 | 725 | 505 |
Net unrealized holding gains arising during period, tax effect | 206 | 55 | 289 | 210 |
Reclassification adjustments, tax effect | (3) | (10) | (3) | (10) |
Other comprehensive gain, tax effect | 203 | 45 | 286 | 200 |
Net unrealized holding gains arising during period, net of tax | 318 | 86 | 445 | 325 |
Reclassification adjustments, net of tax | (6) | (20) | (6) | (20) |
Other comprehensive gain, net of tax | $ 312 | $ 66 | $ 439 | $ 305 |
Accumulated Other Comprehensi34
Accumulated Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income [Abstract] | ||||
Net unrealized gains and losses, beginning of period | $ (801) | $ (12) | $ (928) | $ (251) |
Other comprehensive gain (losses), net of tax before reclassifications | 318 | 86 | 445 | 325 |
Amounts reclassified from accumulated other comprehensive income | (6) | (20) | (6) | (20) |
Net other comprehensive gain (loss) | 312 | 66 | 439 | 305 |
Net unrealized gains and losses, end of period | $ (489) | $ 54 | $ (489) | $ 54 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||
Shares excluded from diluted net income per share | 0 | 21,111 |
Earnings Per Share (Schedule of
Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 2,543 | $ 1,738 | $ 4,885 | $ 3,346 |
Average number of common shares outstanding | 4,632,911 | 4,590,444 | 4,630,647 | 4,592,563 |
Dilutive effect of common stock equivalents | 2,572 | 27,350 | 3,073 | 28,636 |
Average number of shares used to calculate diluted EPS | 4,635,483 | 4,617,794 | 4,633,720 | 4,621,199 |
Earnings Per Share, Basic | $ 0.55 | $ 0.38 | $ 1.05 | $ 0.73 |
Earnings Per Share, Diluted | $ 0.55 | $ 0.38 | $ 1.05 | $ 0.72 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based compensation expense | $ 171 | $ 79 | $ 284 | $ 160 | |
Unrecognized stock compensation expense | 751 | $ 751 | $ 810 | ||
Option maximum term | 10 years | ||||
Aggregate intrinsic value exercisable | $ 15 | $ 15 | $ 20 | ||
Company's closing stock price | $ 38.50 | $ 38.50 | $ 29 | ||
Maximum [Member] | Restricted Stock and Units [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee benefit plan vesting period | 5 years | ||||
Minimum [Member] | Restricted Stock and Units [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee benefit plan vesting period | 3 years |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule of Share-based Compensation, Stock Options, Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Stock-Based Compensation [Abstract] | ||
Shares outstanding, beginning balance | 15,081 | 21,211 |
Shares exercised | (13,181) | |
Shares forfeited | (500) | (6,130) |
Shares outstanding, ending balance | 1,400 | 15,081 |
Shares, exercisable | 1,400 | 15,081 |
Weighted average exercise price outstanding, beginning balance | $ 27.70 | $ 27.70 |
Weighted average exercise price exercised | 27.70 | |
Weighted average exercise price forfeited | 27.70 | 27.70 |
Weighted average exercise price outstanding, ending balance | 27.70 | 27.70 |
Weighted average exercise price exercisable | $ 27.70 | $ 27.70 |
Aggregate intrinsic value outstanding, beginning balance | $ 20 | $ 0 |
Aggregate intrinsic value exercised | 123 | |
Aggregate intrinsic value outstanding, ending balance | 15 | 20 |
Aggregate intrinsic value exercisable | $ 15 | $ 20 |
Weighted-average contractual life remaining in years outstanding (in years) | 3 months 18 days | 6 months |
Weighted-average contractual life remaining in years exercisable (in years) | 3 months 18 days | 6 months |
Stock-Based Compensation (Sch39
Stock-Based Compensation (Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range) (Details) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Stock-Based Compensation [Abstract] | ||
Shares Outstanding (in shares) | 1,400 | 15,081 |
Weighted average exercise price (in dollars per share) | $ 27.70 | $ 27.70 |
Stock-Based Compensation (Sch40
Stock-Based Compensation (Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity) (Details) - Restricted Stock [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017$ / sharesshares | Dec. 31, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning period, nonvested number of shares | shares | 47,881 | 37,048 |
Number of shares, granted | shares | 6,752 | 27,403 |
Number of shares, vested | shares | (20,271) | (15,912) |
Number of shares, cancelled | shares | (86) | (658) |
Ending period, nonvested number of shares | shares | 34,276 | 47,881 |
Beginning period, weighted average grant date fair value, nonvested number of shares | $ / shares | $ 20.41 | $ 19.83 |
Weighted average grant date fair value, granted | $ / shares | 30.20 | 21 |
Weighted average grant date fair value, vested | $ / shares | $ 20.09 | $ 20.09 |
Weighted average grant date fair value, cancelled | $ / shares | 20.75 | 20.31 |
Ending period, weighted average grant date fair value, nonvested number of shares | $ / shares | $ 22.53 | $ 20.41 |
Guaranteed Preferred Benefici41
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures ("TRUPs") (Narrative) (Details) - USD ($) | Jun. 15, 2005 | Jul. 22, 2004 | Jun. 30, 2017 |
Capital Trust I I [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 5,000,000 | ||
Additional amount contributed to purchase debt | 155,000 | ||
Junior subordinated notes purchased | $ 5,200,000 | ||
Debt instrument, maturity date | Jun. 15, 2035 | ||
Capital Trust I [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 7,000,000 | ||
Additional amount contributed to purchase debt | 217,000 | ||
Junior subordinated notes purchased | $ 7,200,000 | ||
Debt instrument, maturity date | Jul. 22, 2034 | ||
London Interbank Offered Rate (LIBOR) [Member] | Capital Trust I I [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, description of variable rate basis | 90-day LIBOR rate plus 1.70% | ||
Debt instrument, percent spread on variable rate | 1.70% | ||
London Interbank Offered Rate (LIBOR) [Member] | Capital Trust I [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, description of variable rate basis | 90-day LIBOR rate plus 2.60% | ||
Debt instrument, percent spread on variable rate | 2.60% |
Subordinated Notes (Details)
Subordinated Notes (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | Feb. 13, 2015 | Feb. 06, 2015 | |
Subordinated notes | $ 23,000,000 | $ 23,000,000 | ||
Preferred stock, redemption date | Feb. 13, 2015 | |||
Preferred stock, value | $ 20,000,000 | |||
Subordinated Debt [Member] | ||||
Debt Instrument, Face Amount | $ 23,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | |||
Subordinated notes interest rate | 6.25% | 6.25% | ||
Debt Instrument, Maturity Date | Feb. 15, 2025 | |||
Redemption percentage | 100.00% | |||
Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt instrument, percent spread on variable rate | 4.79% |
Other Real Estate Owned ("ORE43
Other Real Estate Owned ("OREO") (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Additions of underlying property | $ 2,772,000 | $ 2,718,000 | $ 3,120,000 | ||||
Gains (losses) on sale of OREO | (443,000) | ||||||
Other real estate owned, carrying amount | $ 9,154,000 | $ 8,460,000 | 9,154,000 | 8,460,000 | 7,763,000 | $ 9,449,000 | |
Valuation allowance | 117,000 | 7,000 | 313,000 | 262,000 | 574,000 | ||
Residential Real Estate [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Impaired loans in foreclosure proceedings in process | $ 742,000 | 742,000 | $ 353,000 | ||||
One Residential Property [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Additions of underlying property | 577,000 | ||||||
Other real estate owned, carrying amount | 166,000 | 166,000 | |||||
Three Residential Lots [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Other real estate owned, carrying amount | 106,000 | 106,000 | |||||
Three Commercial Properties [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Other real estate owned, carrying amount | 875,000 | 875,000 | |||||
Apartment And Condominium Property [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Other real estate owned, carrying amount | $ 2,200,000 | 2,200,000 | |||||
One Residential Property And Three Residential Lots [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Bank provided financing | $ 200,000 | ||||||
Improved Commercial Office Building [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Additions of underlying property | $ 2,100,000 | ||||||
Four Residential Properties And Multiple Residential Lots [Member] | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||||
Gains (losses) on sale of OREO | 36,000 | ||||||
Proceeds from sale of properties | $ 1,100,000 |
Other Real Estate Owned ("ORE44
Other Real Estate Owned ("OREO") (Foreclosed Real Estate Roll Forward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Other Real Estate Owned ("OREO") [Abstract] | |||||
Balance at beginning of year | $ 7,763 | $ 9,449 | $ 9,449 | ||
Additions of underlying property | 2,772 | 2,718 | 3,120 | ||
Disposals of underlying property | (1,068) | (3,445) | (3,860) | ||
Transfers to premises or loans | (372) | ||||
Valuation allowance | $ (117) | $ (7) | (313) | (262) | (574) |
Balance at end of period | $ 9,154 | $ 8,460 | $ 9,154 | $ 8,460 | $ 7,763 |
Other Real Estate Owned ("ORE45
Other Real Estate Owned ("OREO") (Foreclosed Real Estate Expenses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Other Real Estate Owned ("OREO") [Abstract] | |||||
Valuation allowance | $ 117 | $ 7 | $ 313 | $ 262 | $ 574 |
Operating expenses | 28 | 98 | 27 | 144 | |
Expenses applicable to OREO assets | $ 145 | $ 105 | $ 340 | $ 406 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)security | Jun. 30, 2016USD ($)security | Dec. 31, 2016USD ($) | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Asset-backed securities pledged to secure certain deposits | $ 25,400 | $ 25,400 | $ 21,500 | ||
Asset-backed securities pledged as collateral | 4,300 | 4,300 | 1,600 | ||
Amount | 156,609 | 156,609 | 157,830 | ||
Amortized cost, available for sale | 55,096 | 55,096 | 54,565 | ||
Gain (Loss) On Sale Of Securities, Net | 133 | $ 39 | 133 | $ 39 | |
Gross realized gains (loss) on sale of HTM securities | 133 | 39 | |||
Securities held to maturity (HTM), at amortized cost | 106,842 | 106,842 | 109,247 | ||
Securities available for sale (AFS), at fair value | 54,288 | 54,288 | 53,033 | ||
Estimated Fair Value, held to maturity | 106,775 | 106,775 | 108,034 | ||
Gross unrealized losses, available for sale | 876 | 876 | 1,577 | ||
Fair value of HTM Securities with unrealized losses | 61,900 | 61,900 | 85,000 | ||
Gross unrealized losses, held to maturity | 687 | 687 | 1,715 | ||
Three Available For Sale Securities [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Gross realized gains on sale of AFS securities | $ 9 | $ 31 | |||
Number Of Available For Sale Securities Sold | security | 3 | 3 | |||
Securities available for sale (AFS), at fair value | 3,600 | 2,400 | $ 3,600 | $ 2,400 | |
One Held To Maturity Securities [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Gross realized gains (loss) on sale of HTM securities | $ 8 | ||||
Number Of Held To Maturity Securities Sold | security | 1 | ||||
Securities held to maturity (HTM), at amortized cost | $ 698 | $ 698 | |||
Six Held To Maturity Securities [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Gross realized gains (loss) on sale of HTM securities | $ 124 | ||||
Number Of Held To Maturity Securities Sold | security | 6 | ||||
Securities held to maturity (HTM), at amortized cost | 3,400 | $ 3,400 | |||
Residential Mortgage Backed Securities Issued By US Government Sponsored Enterprises [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Amortized cost, available for sale | 6,229 | 6,229 | 4,377 | ||
Securities held to maturity (HTM), at amortized cost | 30,612 | 30,612 | 34,735 | ||
Securities available for sale (AFS), at fair value | 6,146 | 6,146 | 4,183 | ||
Estimated Fair Value, held to maturity | 30,951 | 30,951 | 34,533 | ||
Gross unrealized losses, available for sale | 83 | 83 | 194 | ||
Gross unrealized losses, held to maturity | 74 | 74 | 569 | ||
Residential Collateralized Mortgage Obligations, Issued By US Government Sponsored Enterprises [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Amortized cost, available for sale | 34,185 | 34,185 | 35,176 | ||
Securities held to maturity (HTM), at amortized cost | 60,500 | 60,500 | 63,060 | ||
Securities available for sale (AFS), at fair value | 33,606 | 33,606 | 34,228 | ||
Estimated Fair Value, held to maturity | 60,241 | 60,241 | 62,393 | ||
Gross unrealized losses, available for sale | 595 | 595 | 966 | ||
Fair value of AFS Securities with unrealized losses | 47,000 | 47,000 | 46,100 | ||
Gross unrealized losses, held to maturity | 449 | $ 449 | $ 802 | ||
Asset-backed Securities, Issued by US Government Sponsored Enterprises and U.S. Agencies [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Available for sale securities, average life | 4 years 6 months 26 days | 4 years 11 months 16 days | |||
Available for sale securities, average duration | 4 years 1 month 10 days | 4 years 5 months 5 days | |||
Held to maturity securities, average life | 4 years 8 months 9 days | 5 years 3 months 18 days | |||
Held to maturity securities, average duration | 4 years 2 months 12 days | 4 years 8 months 16 days | |||
Available for sale securities with unrealized losses, average life | 4 years 7 months 6 days | 4 years 10 months 28 days | |||
Available for sale securities with unrealized losses, average duration | 4 years 1 month 21 days | 4 years 4 months 13 days | |||
Held to maturity securities with unrealized losses, average life | 4 years 6 months 22 days | 5 years 22 days | |||
Held to maturity securities with unrealized losses, average duration | 4 years 1 month 10 days | 4 years 5 months 27 days | |||
Amortized cost, available for sale | 50,600 | $ 50,600 | $ 50,100 | ||
Securities held to maturity (HTM), at amortized cost | 100,100 | 100,100 | 108,400 | ||
Gross unrealized losses, available for sale | 876 | 876 | 1,600 | ||
Fair value of HTM Securities with unrealized losses | 61,300 | 61,300 | 84,200 | ||
Gross unrealized losses, held to maturity | 625 | $ 625 | $ 1,600 | ||
Asset-backed Securities, Issued by Private Enterprises [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Held to maturity securities with unrealized losses, average life | 2 years 11 months 16 days | 4 years 1 month 24 days | |||
Held to maturity securities with unrealized losses, average duration | 2 years 5 months 9 days | 3 years 3 months 15 days | |||
Securities held to maturity (HTM), at amortized cost | 740 | $ 740 | $ 884 | ||
Fair value of HTM Securities with unrealized losses | 678 | 678 | 803 | ||
Gross unrealized losses, held to maturity | 62 | 62 | 81 | ||
US Government Agencies Callable Agency Bonds [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Securities held to maturity (HTM), at amortized cost | 5,020 | 5,020 | 3,001 | ||
Estimated Fair Value, held to maturity | 5,030 | 5,030 | 2,991 | ||
Gross unrealized losses, held to maturity | 10 | ||||
Residential Collateralized Mortgage Obligations, Issued By Private Enterprises [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Securities held to maturity (HTM), at amortized cost | 740 | 740 | 884 | ||
Estimated Fair Value, held to maturity | 678 | 678 | 803 | ||
Gross unrealized losses, held to maturity | 62 | 62 | 81 | ||
Corporate Equity Securities [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Amortized cost, available for sale | 37 | 37 | 37 | ||
Securities available for sale (AFS), at fair value | 37 | 37 | 37 | ||
Bond Mutual Funds [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Amortized cost, available for sale | 4,432 | 4,432 | 4,386 | ||
Securities available for sale (AFS), at fair value | 4,484 | 4,484 | 4,413 | ||
US Government Obligations [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Securities held to maturity (HTM), at amortized cost | 1,000 | 1,000 | 850 | ||
Estimated Fair Value, held to maturity | $ 1,000 | $ 1,000 | $ 850 | ||
Standard Poor's, AAA Rating [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Percentage of asset backed securities in investment portfolio | 99.00% | 99.00% | 99.00% | ||
Amount | $ 155,869 | $ 155,869 | $ 156,947 | ||
Standard Poor's, BB Rating [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Amount | $ 740 | $ 740 | 411 | ||
Standard Poor's, B+ Rating [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Amount | $ 472 |
Securities (Fair Value to Amort
Securities (Fair Value to Amortized Cost Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, available for sale | $ 55,096 | $ 54,565 |
Gross unrealized gains, available for sale | 68 | 45 |
Gross unrealized losses, available for sale | 876 | 1,577 |
Estimated fair value, available for sale | 54,288 | 53,033 |
Amortized cost, Held-to-maturity Securities | 106,842 | 109,247 |
Gross unrealized gains, held to maturity | 620 | 502 |
Gross unrealized losses, held to maturity | 687 | 1,715 |
Estimated Fair Value, held to maturity | 106,775 | 108,034 |
Residential Mortgage Backed Securities Issued By US Government Sponsored Enterprises [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, available for sale | 6,229 | 4,377 |
Gross unrealized losses, available for sale | 83 | 194 |
Estimated fair value, available for sale | 6,146 | 4,183 |
Amortized cost, Held-to-maturity Securities | 30,612 | 34,735 |
Gross unrealized gains, held to maturity | 413 | 367 |
Gross unrealized losses, held to maturity | 74 | 569 |
Estimated Fair Value, held to maturity | 30,951 | 34,533 |
Residential Collateralized Mortgage Obligations, Issued By US Government Sponsored Enterprises [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, available for sale | 34,185 | 35,176 |
Gross unrealized gains, available for sale | 16 | 18 |
Gross unrealized losses, available for sale | 595 | 966 |
Estimated fair value, available for sale | 33,606 | 34,228 |
Amortized cost, Held-to-maturity Securities | 60,500 | 63,060 |
Gross unrealized gains, held to maturity | 190 | 135 |
Gross unrealized losses, held to maturity | 449 | 802 |
Estimated Fair Value, held to maturity | 60,241 | 62,393 |
US Agency [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, available for sale | 10,213 | 10,589 |
Gross unrealized losses, available for sale | 198 | 417 |
Estimated fair value, available for sale | 10,015 | 10,172 |
Amortized cost, Held-to-maturity Securities | 8,970 | 6,717 |
Gross unrealized gains, held to maturity | 7 | |
Gross unrealized losses, held to maturity | 102 | 253 |
Estimated Fair Value, held to maturity | 8,875 | 6,464 |
Asset-backed Securities, Issued by US Government Sponsored Enterprises and U.S. Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, available for sale | 50,600 | 50,100 |
Gross unrealized losses, available for sale | 876 | 1,600 |
Amortized cost, Held-to-maturity Securities | 100,100 | 108,400 |
Gross unrealized losses, held to maturity | 625 | 1,600 |
Residential Collateralized Mortgage Obligations, Issued By Private Enterprises [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, Held-to-maturity Securities | 740 | 884 |
Gross unrealized losses, held to maturity | 62 | 81 |
Estimated Fair Value, held to maturity | 678 | 803 |
US Government Agencies Callable Agency Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, Held-to-maturity Securities | 5,020 | 3,001 |
Gross unrealized gains, held to maturity | 10 | |
Gross unrealized losses, held to maturity | 10 | |
Estimated Fair Value, held to maturity | 5,030 | 2,991 |
US Government Obligations [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, Held-to-maturity Securities | 1,000 | 850 |
Estimated Fair Value, held to maturity | 1,000 | 850 |
Corporate Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, available for sale | 37 | 37 |
Estimated fair value, available for sale | 37 | 37 |
Bond Mutual Funds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost, available for sale | 4,432 | 4,386 |
Gross unrealized gains, available for sale | 52 | 27 |
Estimated fair value, available for sale | $ 4,484 | $ 4,413 |
Securities (Schedule of Unreali
Securities (Schedule of Unrealized Loss on Investments, AFS) (Details) - Asset-backed Securities, Issued by US Government Sponsored Enterprises and U.S. Agencies [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Less than 12 months, fair value | $ 33,710 | $ 34,262 |
More than 12 months, fair value | 13,314 | 11,846 |
Fair value | 47,024 | 46,108 |
Less than 12 months, unrealized loss | 536 | 1,110 |
More than 12 months, unrealized loss | 340 | 467 |
Unrealized loss | $ 876 | $ 1,577 |
Securities (Schedule of Unrea49
Securities (Schedule of Unrealized Loss on Investments, HTM) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 months, fair value | $ 55,262 | $ 77,879 |
Less than 12 months, unrealized loss | 504 | 1,452 |
More than 12 months, fair value | 6,681 | 7,143 |
More than 12 months, unrealized loss | 183 | 263 |
Total, fair value | 61,943 | 85,022 |
Total, unrealized loss | 687 | 1,715 |
Asset-backed Securities, Issued by US Government Sponsored Enterprises and U.S. Agencies [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 months, fair value | 55,262 | 77,879 |
Less than 12 months, unrealized loss | 504 | 1,452 |
More than 12 months, fair value | 6,003 | 6,340 |
More than 12 months, unrealized loss | 121 | 182 |
Total, fair value | 61,265 | 84,219 |
Total, unrealized loss | 625 | 1,634 |
Asset-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
More than 12 months, fair value | 678 | 803 |
More than 12 months, unrealized loss | 62 | 81 |
Total, fair value | 678 | 803 |
Total, unrealized loss | $ 62 | $ 81 |
Securities (Financing Receivabl
Securities (Financing Receivable Credit Quality Indicators) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Amount | $ 156,609 | $ 157,830 |
Standard Poor's, AAA Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amount | 155,869 | 156,947 |
Standard Poor's, BB Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amount | $ 740 | 411 |
Standard Poor's, B+ Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amount | $ 472 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($)loan | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)loan | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($)loan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 24 | 24 | 29 | ||
90 or greater days delinquent | $ 3,782 | $ 3,782 | $ 7,705 | ||
Total non-accrual loans | 4,442 | 4,442 | 8,374 | ||
Deferred loan fees and premiums include net deferred fees paid by customers | 2,800 | 2,800 | 2,700 | ||
Offset by net deferred premiums paid to purchase loans | 3,600 | 3,600 | 3,100 | ||
Loan portfolio | 1,142,010 | $ 1,005,068 | 1,142,010 | $ 1,005,068 | 1,088,982 |
Allowance for loan loss | 10,434 | 10,434 | $ 9,860 | ||
Decrease In Non Accrual Loans | $ 3,900 | ||||
Loans added to troubled debt restructuring | loan | 0 | 1 | |||
Loans removed from troubled debt restructuring | loan | 1 | 9 | |||
Amount of loans added to troubled debt restructuring | $ 196 | ||||
Amount of loans removed from troubled debt restructuring | $ 167 | 2,100 | |||
Interest income recognized on outstanding TDR loans | 181 | 357 | |||
TDR loan principal curtailment | 177 | 1,600 | |||
Charge-offs | 68 | 69 | 216 | 468 | |
Loans, carrying amount | 1,132,429 | 1,132,429 | 1,079,519 | ||
Non-accrual performing loans | 660 | 660 | 669 | ||
Past Due | $ 4,863 | $ 4,863 | $ 8,739 | ||
Number of TDR loans | loan | 20 | 22 | |||
Number of accrual TDR loans | loan | 16 | 16 | 16 | ||
Financing receivable post modification recorded investment | $ 11,981 | $ 11,981 | $ 15,121 | ||
Accrual TDR loans | 10,228 | 10,228 | 10,448 | ||
Residential Development Project [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Decrease In Non Accrual Loans | 2,800 | ||||
Financing Receivable Troubled Debt Restructuring [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Increase (decrease) in loans | 2,800 | $ (3,100) | |||
Nine Troubled Debt Restructuring Loans with Reserves [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 5,700 | ||||
Specific reserves for TDR loans | $ 844 | ||||
Number of TDR loans | loan | 9 | ||||
Five Troubled Debt Restructuring Loans with Reserves [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of TDR loans | loan | 4 | ||||
Ten Troubled Debt Restructuring Loans With Reserves [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 5,800 | $ 5,800 | |||
Specific reserves for TDR loans | 728 | $ 728 | |||
Number of TDR loans | loan | 9 | ||||
Four Troubled Debt Restructuring Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total non-accrual loans | $ 1,800 | $ 1,800 | |||
Six Trouble Debt Restructuring Loans With Reserves [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total non-accrual loans | $ 4,700 | ||||
Number of TDR loans | loan | 6 | ||||
Eleven Loans Representing Six Customer Relationships [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 11 | 11 | |||
Total non-accrual loans | $ 3,100 | $ 3,100 | |||
Percentage Status Of Non Accrual Loans | 71.00% | ||||
Fifteen Loans Representing Six Customer Relationships [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 15 | ||||
Total non-accrual loans | $ 6,400 | ||||
Percentage Status Of Non Accrual Loans | 77.00% | ||||
Nonaccrual Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage status of loan in portfolio | 0.39% | 0.39% | 0.77% | ||
Nonaccrual Loans With No Impairment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, nonperforming, nonaccrual of interest | $ 3,800 | $ 3,800 | $ 7,800 | ||
Interest income recognized on outstanding TDR loans | 183 | 947 | |||
Nonaccrual Loans With Impairment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, nonperforming, nonaccrual of interest | 689 | 689 | 575 | ||
Interest income recognized on outstanding TDR loans | 80 | 156 | |||
31 - 60 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 39 | 39 | 503 | ||
61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,042 | 1,042 | 531 | ||
90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 3,782 | 3,782 | 7,705 | ||
Residential First Mortgage Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Purchased Loans | 19,000 | 64,200 | |||
Loan portfolio | 181,386 | 148,138 | 181,386 | 148,138 | 171,004 |
Past Due | 624 | $ 624 | $ 623 | ||
Number of TDR loans | loan | 2 | 2 | |||
Financing receivable post modification recorded investment | 537 | $ 537 | $ 545 | ||
Residential First Mortgage Loans [Member] | Minimum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 10 years | ||||
Residential First Mortgage Loans [Member] | Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 30 years | ||||
Residential First Mortgage Loans [Member] | Performing Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 181,098 | $ 181,098 | 170,381 | ||
Residential First Mortgage Loans [Member] | Nonperforming Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 288 | 288 | 623 | ||
Residential First Mortgage Loans [Member] | 61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 336 | 336 | |||
Residential First Mortgage Loans [Member] | 90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | $ 288 | $ 288 | $ 623 | ||
Residential Rentals Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 3 | 3 | 4 | ||
90 or greater days delinquent | $ 332 | $ 332 | $ 577 | ||
Total non-accrual loans | $ 332 | $ 332 | $ 577 | ||
Construction And Land Development Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 1 | 1 | 2 | ||
90 or greater days delinquent | $ 252 | $ 252 | $ 3,048 | ||
Total non-accrual loans | 252 | 252 | 3,048 | ||
Home Equity And Second Mortgage Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 20,847 | 22,104 | 20,847 | 22,104 | 21,399 |
Charge-offs | 1 | 1 | |||
Past Due | 190 | 190 | 224 | ||
Home Equity And Second Mortgage Loans [Member] | Performing Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 20,795 | 20,795 | 21,338 | ||
Home Equity And Second Mortgage Loans [Member] | Nonperforming Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 52 | 52 | 61 | ||
Home Equity And Second Mortgage Loans [Member] | 31 - 60 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 130 | ||||
Home Equity And Second Mortgage Loans [Member] | 61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 138 | 138 | 33 | ||
Home Equity And Second Mortgage Loans [Member] | 90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 52 | 52 | 61 | ||
Consumer Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 412 | 332 | 412 | 332 | 422 |
Charge-offs | 2 | 1 | |||
Past Due | 2 | ||||
Consumer Loans [Member] | Performing Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 412 | 412 | 422 | ||
Consumer Loans [Member] | 61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 2 | ||||
Commercial Equipment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 34,589 | 34,589 | 39,737 | ||
Past Due | 533 | 533 | 693 | ||
Commercial Equipment Loans [Member] | 31 - 60 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 39 | 39 | 42 | ||
Commercial Equipment Loans [Member] | 61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 27 | 27 | 1 | ||
Commercial Equipment Loans [Member] | 90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 467 | 467 | 650 | ||
Real Estate Portfolio Segment [Member] | Adjustable Rate Residential First Mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | $ 59,600 | $ 59,600 | $ 45,600 | ||
Percentage status of loan in portfolio | 5.20% | 5.20% | 4.20% | ||
Real Estate Portfolio Segment [Member] | Residential First Mortgage Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 3 | 3 | 4 | ||
90 or greater days delinquent | $ 288 | $ 288 | $ 623 | ||
Total non-accrual loans | $ 288 | $ 288 | $ 623 | ||
Real Estate Portfolio Segment [Member] | Home Equity And Second Mortgage Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 2 | 2 | 2 | ||
90 or greater days delinquent | $ 52 | $ 52 | $ 61 | ||
Total non-accrual loans | 52 | 52 | 61 | ||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 939,365 | 939,365 | 896,157 | ||
Commercial Portfolio Segment [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 103,153 | 103,153 | 101,733 | ||
Commercial Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 810,367 | 810,367 | 764,793 | ||
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 1,019 | 1,019 | |||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | $ 24,826 | $ 24,826 | 29,494 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | $ 137 | ||||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 7 | 7 | 7 | ||
90 or greater days delinquent | $ 2,015 | $ 2,015 | $ 2,371 | ||
Total non-accrual loans | 2,015 | 2,015 | 2,371 | ||
Loan portfolio | 713,789 | 608,380 | 713,789 | 608,380 | 667,105 |
Past Due | 2,472 | $ 2,472 | $ 2,855 | ||
Number of TDR loans | loan | 9 | 8 | |||
Financing receivable post modification recorded investment | 9,466 | $ 9,466 | $ 9,587 | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Minimum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 3 years | ||||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 20 years | ||||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 53,423 | $ 53,423 | 51,503 | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 639,970 | 639,970 | 594,768 | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 1,019 | 1,019 | |||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 19,377 | 19,377 | 20,834 | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | 61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 457 | 457 | 484 | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | 90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 2,015 | 2,015 | 2,371 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 103,361 | 100,202 | 103,361 | 100,202 | 101,897 |
Charge-offs | 42 | 42 | |||
Past Due | 416 | $ 416 | $ 588 | ||
Number of TDR loans | loan | 1 | 1 | |||
Financing receivable post modification recorded investment | 224 | $ 224 | $ 227 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | 1-4 Family Units [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 85,800 | 85,800 | 84,900 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Apartment Buildings Rentals [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 17,600 | 17,600 | 17,000 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Adjustable Rate Residential Rentals [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | $ 85,500 | $ 85,500 | $ 84,000 | ||
Percentage status of loan in portfolio | 7.50% | 7.50% | 7.70% | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Minimum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 3 years | ||||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 20 years | ||||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | $ 26,256 | $ 26,256 | $ 25,563 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 76,063 | 76,063 | 74,989 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 1,042 | 1,042 | 1,345 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | 61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 84 | 84 | 11 | ||
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | 90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 332 | 332 | 577 | ||
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 32,603 | 35,560 | 32,603 | 35,560 | 36,934 |
Charge-offs | 25 | 25 | 73 | ||
Past Due | 252 | $ 252 | $ 3,048 | ||
Number of TDR loans | loan | 3 | 4 | |||
Financing receivable post modification recorded investment | 981 | $ 981 | $ 3,777 | ||
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 1,820 | 1,820 | 1,632 | ||
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 29,801 | 29,801 | 31,525 | ||
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 982 | 982 | 3,777 | ||
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | 90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | $ 252 | $ 252 | $ 3,048 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 5 | 5 | 5 | ||
90 or greater days delinquent | $ 376 | $ 376 | $ 375 | ||
Total non-accrual loans | 1,036 | 1,036 | 1,044 | ||
Loan portfolio | 55,023 | 57,167 | 55,023 | 57,167 | 50,484 |
Charge-offs | 69 | 394 | |||
Non-accrual performing loans | 660 | 660 | 669 | ||
Past Due | 376 | $ 376 | $ 706 | ||
Number of TDR loans | loan | 3 | 5 | |||
Financing receivable post modification recorded investment | 665 | $ 665 | $ 872 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 11,586 | 11,586 | 11,266 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 40,503 | 40,503 | 36,221 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 2,934 | 2,934 | 2,997 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | 31 - 60 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 331 | ||||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | 90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | $ 376 | $ 376 | $ 375 | ||
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | loan | 3 | 3 | 5 | ||
90 or greater days delinquent | $ 467 | $ 467 | $ 650 | ||
Total non-accrual loans | 467 | 467 | 650 | ||
Loan portfolio | 34,589 | $ 33,185 | 34,589 | $ 33,185 | $ 39,737 |
Charge-offs | $ 146 | ||||
Number of TDR loans | loan | 2 | 2 | |||
Financing receivable post modification recorded investment | 108 | $ 108 | $ 113 | ||
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 10,068 | 10,068 | 11,769 | ||
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | 24,030 | 24,030 | 27,290 | ||
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | $ 491 | $ 491 | 541 | ||
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Doubtful [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loan portfolio | $ 137 | ||||
Commercial Portfolio Segment [Member] | Commercial Construction Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage status of loan in portfolio | 5.90% | 5.90% | 9.30% |
Loans (Schedule of Accounts, No
Loans (Schedule of Accounts, Notes, Loans and Financing Receivable) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,142,010 | $ 1,088,982 | $ 1,005,068 |
Less: | |||
Deferred loan fees and premiums | (853) | (397) | |
Allowance for loan losses | 10,434 | 9,860 | |
Loans and leases receivable adjustments | 9,581 | 9,463 | |
Loans and leases receivable net reported amount | 1,132,429 | 1,079,519 | |
Residential First Mortgage Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 181,386 | 171,004 | 148,138 |
Home Equity And Second Mortgage Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 20,847 | 21,399 | 22,104 |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 412 | 422 | 332 |
Commercial Equipment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 34,589 | 39,737 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 939,365 | 896,157 | |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 713,789 | 667,105 | 608,380 |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 103,361 | 101,897 | 100,202 |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 32,603 | 36,934 | 35,560 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 55,023 | 50,484 | 57,167 |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 34,589 | $ 39,737 | $ 33,185 |
Loans (Schedule of Financing Re
Loans (Schedule of Financing Receivables, Non-Accrual Status) (Details) $ in Thousands | Jun. 30, 2017USD ($)loan | Dec. 31, 2016USD ($)loan |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 3,782 | $ 7,705 |
Number of loans, 90 or greater days delinquent | loan | 22 | 27 |
Non-accrual performing loans | $ | $ 660 | $ 669 |
Number of loans, non-accrual performing loans | loan | 2 | 2 |
Total non-accrual loans | $ | $ 4,442 | $ 8,374 |
Total number of loans | loan | 24 | 29 |
Residential Rentals Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 332 | $ 577 |
Number of loans, 90 or greater days delinquent | loan | 3 | 4 |
Total non-accrual loans | $ | $ 332 | $ 577 |
Total number of loans | loan | 3 | 4 |
Construction And Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 252 | $ 3,048 |
Number of loans, 90 or greater days delinquent | loan | 1 | 2 |
Total non-accrual loans | $ | $ 252 | $ 3,048 |
Total number of loans | loan | 1 | 2 |
Real Estate Portfolio Segment [Member] | Residential First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 288 | $ 623 |
Number of loans, 90 or greater days delinquent | loan | 3 | 4 |
Total non-accrual loans | $ | $ 288 | $ 623 |
Total number of loans | loan | 3 | 4 |
Real Estate Portfolio Segment [Member] | Home Equity And Second Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 52 | $ 61 |
Number of loans, 90 or greater days delinquent | loan | 2 | 2 |
Total non-accrual loans | $ | $ 52 | $ 61 |
Total number of loans | loan | 2 | 2 |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 2,015 | $ 2,371 |
Number of loans, 90 or greater days delinquent | loan | 7 | 7 |
Total non-accrual loans | $ | $ 2,015 | $ 2,371 |
Total number of loans | loan | 7 | 7 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 376 | $ 375 |
Number of loans, 90 or greater days delinquent | loan | 3 | 3 |
Non-accrual performing loans | $ | $ 660 | $ 669 |
Number of loans, non-accrual performing loans | loan | 2 | 2 |
Total non-accrual loans | $ | $ 1,036 | $ 1,044 |
Total number of loans | loan | 5 | 5 |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or greater days delinquent | $ | $ 467 | $ 650 |
Number of loans, 90 or greater days delinquent | loan | 3 | 5 |
Total non-accrual loans | $ | $ 467 | $ 650 |
Total number of loans | loan | 3 | 5 |
Loans (Past Due Financing Recei
Loans (Past Due Financing Receivables) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Current | $ 1,137,147 | $ 1,080,243 | |
Past Due | 4,863 | 8,739 | |
Total Loan Receivables | 1,142,010 | 1,088,982 | $ 1,005,068 |
31 - 60 Days [Member] | |||
Past Due | 39 | 503 | |
61 - 89 Days [Member] | |||
Past Due | 1,042 | 531 | |
90 or Greater Days [Member] | |||
Past Due | 3,782 | 7,705 | |
Residential First Mortgage Loans [Member] | |||
Current | 180,762 | 170,381 | |
Past Due | 624 | 623 | |
Total Loan Receivables | 181,386 | 171,004 | 148,138 |
Residential First Mortgage Loans [Member] | 61 - 89 Days [Member] | |||
Past Due | 336 | ||
Residential First Mortgage Loans [Member] | 90 or Greater Days [Member] | |||
Past Due | 288 | 623 | |
Home Equity And Second Mortgage Loans [Member] | |||
Current | 20,657 | 21,175 | |
Past Due | 190 | 224 | |
Total Loan Receivables | 20,847 | 21,399 | 22,104 |
Home Equity And Second Mortgage Loans [Member] | 31 - 60 Days [Member] | |||
Past Due | 130 | ||
Home Equity And Second Mortgage Loans [Member] | 61 - 89 Days [Member] | |||
Past Due | 138 | 33 | |
Home Equity And Second Mortgage Loans [Member] | 90 or Greater Days [Member] | |||
Past Due | 52 | 61 | |
Consumer Loans [Member] | |||
Current | 412 | 420 | |
Past Due | 2 | ||
Total Loan Receivables | 412 | 422 | 332 |
Consumer Loans [Member] | 61 - 89 Days [Member] | |||
Past Due | 2 | ||
Commercial Equipment Loans [Member] | |||
Current | 34,056 | 39,044 | |
Past Due | 533 | 693 | |
Total Loan Receivables | 34,589 | 39,737 | |
Commercial Equipment Loans [Member] | 31 - 60 Days [Member] | |||
Past Due | 39 | 42 | |
Commercial Equipment Loans [Member] | 61 - 89 Days [Member] | |||
Past Due | 27 | 1 | |
Commercial Equipment Loans [Member] | 90 or Greater Days [Member] | |||
Past Due | 467 | 650 | |
Commercial Portfolio Segment [Member] | |||
Total Loan Receivables | 939,365 | 896,157 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Current | 54,647 | 49,778 | |
Past Due | 376 | 706 | |
Total Loan Receivables | 55,023 | 50,484 | 57,167 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | 31 - 60 Days [Member] | |||
Past Due | 331 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | 90 or Greater Days [Member] | |||
Past Due | 376 | 375 | |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | |||
Current | 102,945 | 101,309 | |
Past Due | 416 | 588 | |
Total Loan Receivables | 103,361 | 101,897 | 100,202 |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | 61 - 89 Days [Member] | |||
Past Due | 84 | 11 | |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | 90 or Greater Days [Member] | |||
Past Due | 332 | 577 | |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Current | 32,351 | 33,886 | |
Past Due | 252 | 3,048 | |
Total Loan Receivables | 32,603 | 36,934 | 35,560 |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | 90 or Greater Days [Member] | |||
Past Due | 252 | 3,048 | |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | |||
Current | 711,317 | 664,250 | |
Past Due | 2,472 | 2,855 | |
Total Loan Receivables | 713,789 | 667,105 | 608,380 |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | 61 - 89 Days [Member] | |||
Past Due | 457 | 484 | |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | 90 or Greater Days [Member] | |||
Past Due | 2,015 | 2,371 | |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | |||
Total Loan Receivables | $ 34,589 | $ 39,737 | $ 33,185 |
Loans (Impaired Financing Recei
Loans (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Unpaid contractual principal balance | $ 30,120 | $ 39,330 | $ 30,120 | $ 39,330 | $ 36,685 |
Recorded investment with no allowance | 20,461 | 34,727 | 20,461 | 34,727 | 26,436 |
Recorded investment with allowance | 9,244 | 3,757 | 9,244 | 3,757 | 8,924 |
Total recorded investment | 29,705 | 38,484 | 29,705 | 38,484 | 35,360 |
Related allowance | 1,476 | 1,223 | 1,476 | 1,223 | 1,289 |
Average recorded investment | 29,859 | 38,723 | 30,018 | 38,962 | 36,534 |
Interest income recognized | 280 | 354 | 588 | 627 | 1,309 |
Residential First Mortgage Loans [Member] | |||||
Unpaid contractual principal balance | 2,294 | 2,957 | 2,294 | 2,957 | 2,436 |
Recorded investment with no allowance | 1,823 | 2,472 | 1,823 | 2,472 | 1,938 |
Recorded investment with allowance | 468 | 485 | 468 | 485 | 475 |
Total recorded investment | 2,291 | 2,957 | 2,291 | 2,957 | 2,413 |
Related allowance | 11 | 20 | 11 | 20 | 7 |
Average recorded investment | 2,299 | 2,982 | 2,311 | 2,990 | 2,445 |
Interest income recognized | 21 | 23 | 49 | 51 | 90 |
Home Equity And Second Mortgage Loans [Member] | |||||
Unpaid contractual principal balance | 109 | 109 | 109 | 109 | 170 |
Recorded investment with no allowance | 109 | 109 | 109 | 109 | 170 |
Total recorded investment | 109 | 109 | 109 | 109 | 170 |
Average recorded investment | 110 | 109 | 111 | 108 | 176 |
Interest income recognized | 1 | 1 | 2 | 2 | 7 |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | |||||
Unpaid contractual principal balance | 20,277 | 22,444 | 20,277 | 22,444 | 22,195 |
Recorded investment with no allowance | 13,079 | 20,010 | 13,079 | 20,010 | 14,896 |
Recorded investment with allowance | 6,987 | 2,404 | 6,987 | 2,404 | 7,081 |
Total recorded investment | 20,066 | 22,414 | 20,066 | 22,414 | 21,977 |
Related allowance | 693 | 582 | 693 | 582 | 806 |
Average recorded investment | 20,186 | 22,503 | 20,274 | 22,724 | 22,303 |
Interest income recognized | 198 | 243 | 417 | 420 | 908 |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | |||||
Unpaid contractual principal balance | 2,758 | 3,987 | 2,758 | 3,987 | 3,440 |
Recorded investment with no allowance | 2,286 | 3,352 | 2,286 | 3,352 | 2,850 |
Recorded investment with allowance | 400 | 239 | 400 | 239 | 178 |
Total recorded investment | 2,686 | 3,591 | 2,686 | 3,591 | 3,028 |
Related allowance | 23 | 53 | 23 | 53 | 36 |
Average recorded investment | 2,693 | 3,747 | 2,731 | 3,798 | 3,486 |
Interest income recognized | 27 | 42 | 56 | 67 | 134 |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||||
Unpaid contractual principal balance | 981 | 4,443 | 981 | 4,443 | 4,304 |
Recorded investment with no allowance | 252 | 3,939 | 252 | 3,939 | 2,926 |
Recorded investment with allowance | 729 | 431 | 729 | 431 | 851 |
Total recorded investment | 981 | 4,370 | 981 | 4,370 | 3,777 |
Related allowance | 163 | 398 | 163 | 398 | 178 |
Average recorded investment | 980 | 4,317 | 980 | 4,264 | 3,867 |
Interest income recognized | 4 | 4 | 7 | 7 | 16 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Unpaid contractual principal balance | 3,063 | 4,551 | 3,063 | 4,551 | 3,285 |
Recorded investment with no allowance | 2,804 | 4,222 | 2,804 | 4,222 | 3,004 |
Recorded investment with allowance | 169 | 5 | 169 | 5 | 200 |
Total recorded investment | 2,973 | 4,227 | 2,973 | 4,227 | 3,204 |
Related allowance | 169 | 5 | 169 | 5 | 123 |
Average recorded investment | 2,974 | 4,237 | 2,986 | 4,238 | 3,442 |
Interest income recognized | 23 | 36 | 46 | 69 | 137 |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | |||||
Unpaid contractual principal balance | 638 | 839 | 638 | 839 | 855 |
Recorded investment with no allowance | 108 | 623 | 108 | 623 | 652 |
Recorded investment with allowance | 491 | 193 | 491 | 193 | 139 |
Total recorded investment | 599 | 816 | 599 | 816 | 791 |
Related allowance | 417 | 165 | 417 | 165 | 139 |
Average recorded investment | 617 | 828 | 625 | 840 | 815 |
Interest income recognized | $ 6 | $ 5 | $ 11 | $ 11 | $ 17 |
Loans (Troubled Debt Restructur
Loans (Troubled Debt Restructurings on Financing Receivables) (Details) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($)loan | Dec. 31, 2016USD ($)loan | |
Financing receivable post modification recorded investment | $ | $ 11,981 | $ 15,121 |
Less: TDRs included in non-accrual loans | $ | (1,753) | (4,673) |
Accrual TDR loans | $ | $ 10,228 | $ 10,448 |
Number of TDR loans | loan | 20 | 22 |
Number of non-accrual TDR loans | loan | (4) | (6) |
Number of accrual TDR loans | loan | 16 | 16 |
Residential First Mortgage Loans [Member] | ||
Financing receivable post modification recorded investment | $ | $ 537 | $ 545 |
Number of TDR loans | loan | 2 | 2 |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Financing receivable post modification recorded investment | $ | $ 9,466 | $ 9,587 |
Number of TDR loans | loan | 9 | 8 |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | ||
Financing receivable post modification recorded investment | $ | $ 224 | $ 227 |
Number of TDR loans | loan | 1 | 1 |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | ||
Financing receivable post modification recorded investment | $ | $ 981 | $ 3,777 |
Number of TDR loans | loan | 3 | 4 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing receivable post modification recorded investment | $ | $ 665 | $ 872 |
Number of TDR loans | loan | 3 | 5 |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | ||
Financing receivable post modification recorded investment | $ | $ 108 | $ 113 |
Number of TDR loans | loan | 2 | 2 |
Loans (Allowance for Credit Los
Loans (Allowance for Credit Losses on Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for loan losses: | ||||
Beginning Balance | $ 10,109 | $ 8,591 | $ 9,860 | $ 8,540 |
Charge-offs | (68) | (69) | (216) | (468) |
Recoveries | 17 | 20 | 34 | 43 |
Provisions | 376 | 564 | 756 | 991 |
Ending Balance | 10,434 | 9,106 | 10,434 | 9,106 |
Residential First Mortgage Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 1,406 | |||
Ending Balance | 1,300 | 935 | 1,300 | 935 |
Home Equity And Second Mortgage Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 76 | 134 | 138 | 142 |
Charge-offs | (1) | (1) | ||
Recoveries | 5 | |||
Provisions | 37 | 7 | (25) | (6) |
Ending Balance | 112 | 141 | 112 | 141 |
Consumer Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 5 | 1 | 3 | 2 |
Charge-offs | (2) | (1) | ||
Provisions | 1 | 4 | 1 | |
Ending Balance | 5 | 2 | 5 | 2 |
Real Estate Portfolio Segment [Member] | Residential First Mortgage Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 1,428 | 591 | 1,406 | 584 |
Provisions | (128) | 344 | (106) | 351 |
Ending Balance | 1,300 | 935 | 1,300 | 935 |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 5,179 | 3,838 | 5,212 | 3,465 |
Recoveries | 4 | 3 | 9 | 5 |
Provisions | 902 | 539 | 864 | 910 |
Ending Balance | 6,085 | 4,380 | 6,085 | 4,380 |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 354 | 590 | 362 | 538 |
Charge-offs | (42) | (42) | ||
Provisions | 23 | 23 | 15 | 75 |
Ending Balance | 335 | 613 | 335 | 613 |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 891 | 1,129 | 941 | 1,103 |
Charge-offs | (25) | (25) | (73) | |
Recoveries | 1 | |||
Provisions | (146) | (85) | (196) | 13 |
Ending Balance | 720 | 1,044 | 720 | 1,044 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 789 | 1,046 | 794 | 1,477 |
Charge-offs | (69) | (394) | ||
Recoveries | 8 | 1 | 11 | |
Provisions | 25 | (276) | 19 | (385) |
Ending Balance | 814 | 709 | 814 | 709 |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 1,387 | 1,262 | 1,004 | 1,229 |
Charge-offs | (146) | |||
Recoveries | 13 | 9 | 24 | 21 |
Provisions | (337) | 11 | 181 | 32 |
Ending Balance | $ 1,063 | $ 1,282 | $ 1,063 | $ 1,282 |
Loans (Loan Receivable and Allo
Loans (Loan Receivable and Allowance Balances Disaggregated) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | $ 29,705 | $ 35,360 | $ 38,484 | |||
Ending balance: collectively evaluated for impairment | 1,112,305 | 1,053,622 | 966,584 | |||
Total Loan Receivables | 1,142,010 | 1,088,982 | 1,005,068 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 1,476 | 1,289 | 1,223 | |||
Ending balance: collectively evaluated for impairment | 8,958 | 8,571 | 7,883 | |||
Total Allowance for loan losses | 10,434 | $ 10,109 | 9,860 | 9,106 | $ 8,591 | $ 8,540 |
Residential First Mortgage Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 2,291 | 2,413 | 2,957 | |||
Ending balance: collectively evaluated for impairment | 179,095 | 168,591 | 145,181 | |||
Total Loan Receivables | 181,386 | 171,004 | 148,138 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 11 | 7 | 20 | |||
Ending balance: collectively evaluated for impairment | 1,289 | 1,399 | 915 | |||
Total Allowance for loan losses | 1,300 | 1,406 | 935 | |||
Home Equity And Second Mortgage Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 109 | 170 | 109 | |||
Ending balance: collectively evaluated for impairment | 20,738 | 21,229 | 21,995 | |||
Total Loan Receivables | 20,847 | 21,399 | 22,104 | |||
Allowance for loan losses: | ||||||
Ending balance: collectively evaluated for impairment | 112 | 138 | 141 | |||
Total Allowance for loan losses | 112 | 76 | 138 | 141 | 134 | 142 |
Consumer Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: collectively evaluated for impairment | 412 | 422 | 332 | |||
Total Loan Receivables | 412 | 422 | 332 | |||
Allowance for loan losses: | ||||||
Ending balance: collectively evaluated for impairment | 5 | 3 | 2 | |||
Total Allowance for loan losses | 5 | 5 | 3 | 2 | 1 | 2 |
Commercial Equipment Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 34,589 | 39,737 | ||||
Real Estate Portfolio Segment [Member] | Residential First Mortgage Loans [Member] | ||||||
Allowance for loan losses: | ||||||
Total Allowance for loan losses | 1,300 | 1,428 | 1,406 | 935 | 591 | 584 |
Commercial Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 939,365 | 896,157 | ||||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 20,066 | 21,977 | 22,414 | |||
Ending balance: collectively evaluated for impairment | 693,723 | 645,128 | 585,966 | |||
Total Loan Receivables | 713,789 | 667,105 | 608,380 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 693 | 806 | 582 | |||
Ending balance: collectively evaluated for impairment | 5,392 | 4,406 | 3,798 | |||
Total Allowance for loan losses | 6,085 | 5,179 | 5,212 | 4,380 | 3,838 | 3,465 |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 2,686 | 3,028 | 3,591 | |||
Ending balance: collectively evaluated for impairment | 100,675 | 98,869 | 96,611 | |||
Total Loan Receivables | 103,361 | 101,897 | 100,202 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 23 | 36 | 53 | |||
Ending balance: collectively evaluated for impairment | 312 | 326 | 560 | |||
Total Allowance for loan losses | 335 | 354 | 362 | 613 | 590 | 538 |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 981 | 3,777 | 4,370 | |||
Ending balance: collectively evaluated for impairment | 31,622 | 33,157 | 31,190 | |||
Total Loan Receivables | 32,603 | 36,934 | 35,560 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 163 | 178 | 398 | |||
Ending balance: collectively evaluated for impairment | 557 | 763 | 646 | |||
Total Allowance for loan losses | 720 | 891 | 941 | 1,044 | 1,129 | 1,103 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 2,973 | 3,204 | 4,227 | |||
Ending balance: collectively evaluated for impairment | 52,050 | 47,280 | 52,940 | |||
Total Loan Receivables | 55,023 | 50,484 | 57,167 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 169 | 123 | 5 | |||
Ending balance: collectively evaluated for impairment | 645 | 671 | 704 | |||
Total Allowance for loan losses | 814 | 789 | 794 | 709 | 1,046 | 1,477 |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 599 | 791 | 816 | |||
Ending balance: collectively evaluated for impairment | 33,990 | 38,946 | 32,369 | |||
Total Loan Receivables | 34,589 | 39,737 | 33,185 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 417 | 139 | 165 | |||
Ending balance: collectively evaluated for impairment | 646 | 865 | 1,117 | |||
Total Allowance for loan losses | $ 1,063 | $ 1,387 | $ 1,004 | $ 1,282 | $ 1,262 | $ 1,229 |
Loans (Schedule of Financing 59
Loans (Schedule of Financing Receivable Recorded Investment Credit Quality Indicator) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans | $ 1,142,010 | $ 1,088,982 | $ 1,005,068 |
Residential First Mortgage Loans [Member] | |||
Loans | 181,386 | 171,004 | 148,138 |
Residential First Mortgage Loans [Member] | Performing Financing Receivable [Member] | |||
Loans | 181,098 | 170,381 | |
Residential First Mortgage Loans [Member] | Nonperforming Financing Receivable [Member] | |||
Loans | 288 | 623 | |
Home Equity And Second Mortgage Loans [Member] | |||
Loans | 20,847 | 21,399 | 22,104 |
Home Equity And Second Mortgage Loans [Member] | Performing Financing Receivable [Member] | |||
Loans | 20,795 | 21,338 | |
Home Equity And Second Mortgage Loans [Member] | Nonperforming Financing Receivable [Member] | |||
Loans | 52 | 61 | |
Consumer Loans [Member] | |||
Loans | 412 | 422 | 332 |
Consumer Loans [Member] | Performing Financing Receivable [Member] | |||
Loans | 412 | 422 | |
Commercial Equipment Loans [Member] | |||
Loans | 34,589 | 39,737 | |
Commercial Portfolio Segment [Member] | |||
Loans | 939,365 | 896,157 | |
Commercial Portfolio Segment [Member] | Unrated [Member] | |||
Loans | 103,153 | 101,733 | |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Loans | 810,367 | 764,793 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Loans | 1,019 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Loans | 24,826 | 29,494 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Loans | 137 | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | |||
Loans | 713,789 | 667,105 | 608,380 |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Unrated [Member] | |||
Loans | 53,423 | 51,503 | |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Pass [Member] | |||
Loans | 639,970 | 594,768 | |
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Special Mention [Member] | |||
Loans | 1,019 | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Substandard [Member] | |||
Loans | 19,377 | 20,834 | |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | |||
Loans | 103,361 | 101,897 | 100,202 |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Unrated [Member] | |||
Loans | 26,256 | 25,563 | |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Pass [Member] | |||
Loans | 76,063 | 74,989 | |
Commercial Portfolio Segment [Member] | Residential Rentals Loans [Member] | Substandard [Member] | |||
Loans | 1,042 | 1,345 | |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Loans | 32,603 | 36,934 | 35,560 |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Unrated [Member] | |||
Loans | 1,820 | 1,632 | |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Pass [Member] | |||
Loans | 29,801 | 31,525 | |
Commercial Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Substandard [Member] | |||
Loans | 982 | 3,777 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans | 55,023 | 50,484 | 57,167 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Unrated [Member] | |||
Loans | 11,586 | 11,266 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Pass [Member] | |||
Loans | 40,503 | 36,221 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Substandard [Member] | |||
Loans | 2,934 | 2,997 | |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | |||
Loans | 34,589 | 39,737 | $ 33,185 |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Unrated [Member] | |||
Loans | 10,068 | 11,769 | |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Pass [Member] | |||
Loans | 24,030 | 27,290 | |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Substandard [Member] | |||
Loans | $ 491 | 541 | |
Commercial Portfolio Segment [Member] | Commercial Equipment Loans [Member] | Doubtful [Member] | |||
Loans | $ 137 |
Regulatory (Details)
Regulatory (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Regulatory Assets | ||||||
Total stockholders' equity | $ 109,293 | $ 104,426 | ||||
AOCI Losses (Gains) | 489 | $ 801 | 928 | $ (54) | $ 12 | $ 251 |
Common equity Tier 1 capital | 109,782 | 105,354 | ||||
TRUPs | 12,000 | 12,000 | ||||
Tier 1 capital | 121,782 | 117,354 | ||||
Allowable reserve for credit losses and other Tier 2 adjustments | 10,454 | 9,860 | ||||
Subordinated notes | 23,000 | 23,000 | ||||
Tier 2 capital | 155,236 | 150,214 | ||||
Risk-weighted assets ("RWA") | 1,131,264 | 1,104,505 | ||||
Average Assets ("AA") | $ 1,376,625 | $ 1,300,445 | ||||
Common Tier 1 capital to RWA, 2019 Regulatory Min. Ratio + CCB | 7.00% | |||||
Tier 1 capital to RWA, 2019 Regulatory Min. Ratio + CCB | 8.50% | |||||
Tier 2 capital to RWA, 2019 Regulatory Min. Ratio + CCB | 10.50% | |||||
Common Tier 1 capital to RWA | 9.70% | 9.54% | ||||
Tier 1 capital to RWA | 10.77% | 10.62% | ||||
Tier 2 capital to RWA | 13.72% | 13.60% | ||||
Tier 1 capital to AA (leverage) | 8.85% | 9.02% | ||||
Common Stock [Member] | ||||||
Regulatory Assets | ||||||
Total stockholders' equity | $ 109,293 | $ 104,426 | ||||
Bank [Member] | ||||||
Regulatory Assets | ||||||
AOCI Losses (Gains) | 489 | 928 | ||||
Common equity Tier 1 capital | 138,874 | 137,037 | ||||
Tier 1 capital | 138,874 | 137,037 | ||||
Allowable reserve for credit losses and other Tier 2 adjustments | 10,454 | 9,860 | ||||
Tier 2 capital | 149,328 | 146,897 | ||||
Risk-weighted assets ("RWA") | 1,127,902 | 1,102,116 | ||||
Average Assets ("AA") | $ 1,373,665 | $ 1,298,145 | ||||
Common Tier 1 capital to RWA | 12.31% | 12.43% | ||||
Tier 1 capital to RWA | 12.31% | 12.43% | ||||
Tier 2 capital to RWA | 13.24% | 13.33% | ||||
Tier 1 capital to AA (leverage) | 10.11% | 10.56% | ||||
Bank [Member] | Common Stock [Member] | ||||||
Regulatory Assets | ||||||
Total stockholders' equity | $ 138,385 | $ 136,109 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans with impairment, unpaid principal | $ 9,300 | $ 8,900 | |
Gain (Loss) on Sale of Properties | $ (443) | ||
Small Office Condo [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Proceeds from Sale of Property Held-for-sale | 392 | ||
Gain (Loss) on Sale of Properties | $ 47 | ||
Fair Value, Inputs, Level 2 [Member] | Small Office Condo [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, fair value | $ 345 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | $ 54,288 | $ 53,033 |
US Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 10,015 | 10,172 |
Corporate Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 37 | 37 |
Bond Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 4,484 | 4,413 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 54,288 | 53,033 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 33,606 | 34,228 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 6,146 | 4,183 |
Fair Value, Measurements, Recurring [Member] | US Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 10,015 | 10,172 |
Fair Value, Measurements, Recurring [Member] | Corporate Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 37 | 37 |
Fair Value, Measurements, Recurring [Member] | Bond Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 4,484 | 4,413 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Bond Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 54,288 | 53,033 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 54,288 | 53,033 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 33,606 | 34,228 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 6,146 | 4,183 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 10,015 | 10,172 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 37 | 37 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Bond Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | 4,484 | 4,413 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Bond Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available For Sale |
Fair Value Measurements (Fair63
Fair Value Measurements (Fair Value, Assets and Liabilities Measured on Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans With Impairment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | $ 7,768 | $ 7,635 |
Loans With Impairment [Member] | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 6,294 | 6,275 |
Loans With Impairment [Member] | Residential First Mortgages [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 457 | 468 |
Loans With Impairment [Member] | Residential Rentals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 377 | 142 |
Loans With Impairment [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 77 | |
Loans With Impairment [Member] | Construction and Land Development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 566 | 673 |
Loans With Impairment [Member] | Commercial Equipment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 74 | |
Loans With Impairment [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Loans With Impairment [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Loans With Impairment [Member] | Fair Value, Inputs, Level 1 [Member] | Residential First Mortgages [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Loans With Impairment [Member] | Fair Value, Inputs, Level 1 [Member] | Residential Rentals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Loans With Impairment [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Loans With Impairment [Member] | Fair Value, Inputs, Level 1 [Member] | Construction and Land Development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Loans With Impairment [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Equipment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 7,768 | 7,635 |
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 6,294 | 6,275 |
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | Residential First Mortgages [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 457 | 468 |
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Rentals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 377 | 142 |
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 77 | |
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | Construction and Land Development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 566 | 673 |
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Equipment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 74 | |
Premises and Equipment Held for Sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 345 | |
Premises and Equipment Held for Sale [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Premises and Equipment Held for Sale [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 345 | |
Premises and Equipment Held for Sale [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 7,763 | |
Other Real Estate Owned [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | 9,154 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | $ 7,763 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value, nonrecurring | $ 9,154 |
Fair Value Measurements (Unobse
Fair Value Measurements (Unobservable Inputs Used in Level 3 Fair Value Measurements) (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Loans With Impairment [Member] | ||
Assets, Fair Value Disclosure | $ 7,768 | $ 7,635 |
Other Real Estate Owned [Member] | ||
Assets, Fair Value Disclosure | $ 9,154 | $ 7,763 |
Maximum [Member] | Loans With Impairment [Member] | ||
Fair Value Inputs, Discount Rate | 50.00% | 50.00% |
Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value Inputs, Discount Rate | 50.00% | 50.00% |
Minimum [Member] | Loans With Impairment [Member] | ||
Fair Value Inputs, Discount Rate | 0.00% | 0.00% |
Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value Inputs, Discount Rate | 0.00% | 0.00% |
Weighted Average [Member] | Loans With Impairment [Member] | ||
Fair Value Inputs, Discount Rate | 16.00% | 14.00% |
Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value Inputs, Discount Rate | 12.00% | 12.00% |
Fair Value of Financial Instr65
Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value of Financial Instruments [Abstract] | ||
Loans commitments outstanding | $ 62.5 | $ 67 |
Letters of credit outstanding, amount | 17.4 | 17.7 |
Line of Credit Facility, Remaining Borrowing Capacity | $ 155.5 | $ 135.3 |
Fair Value of Financial Instr66
Fair Value of Financial Instruments (Fair Value, by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Investment securities - AFS | $ 54,288 | $ 53,033 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Investment securities - HTM | 1,000 | 850 |
Loans receivable | ||
Liabilities | ||
Savings, NOW and money market accounts | ||
Time deposits | ||
Long-term debt | ||
Short term borrowings | ||
TRUPs | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Investment securities - AFS | 54,288 | 53,033 |
Investment securities - HTM | 105,775 | 107,184 |
FHLB and FRB stock | 7,745 | 7,235 |
Loans receivable | ||
Investments in BOLI | 29,011 | 28,625 |
Liabilities | ||
Savings, NOW and money market accounts | 638,819 | 606,033 |
Time deposits | 449,761 | 433,242 |
Long-term debt | 67,999 | 66,302 |
Short term borrowings | 88,283 | 78,984 |
TRUPs | 8,500 | 8,100 |
Subordinated notes | 23,000 | 23,000 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Loans receivable | 1,098,387 | 1,066,975 |
Liabilities | ||
Savings, NOW and money market accounts | ||
Time deposits | ||
Long-term debt | ||
Short term borrowings | ||
TRUPs | ||
Fair Value [Member] | ||
Assets | ||
Investment securities - AFS | 54,288 | 53,033 |
Investment securities - HTM | 106,775 | 108,034 |
FHLB and FRB stock | 7,745 | 7,235 |
Loans receivable | 1,098,387 | 1,066,975 |
Investments in BOLI | 29,011 | 28,625 |
Liabilities | ||
Savings, NOW and money market accounts | 638,819 | 606,033 |
Time deposits | 449,761 | 433,242 |
Long-term debt | 67,999 | 66,302 |
Short term borrowings | 88,283 | 78,984 |
TRUPs | 8,500 | 8,100 |
Subordinated notes | 23,000 | 23,000 |
Carrying Amount [Member] | ||
Assets | ||
Investment securities - AFS | 54,288 | 53,033 |
Investment securities - HTM | 106,842 | 109,247 |
FHLB and FRB stock | 7,745 | 7,235 |
Loans receivable | 1,132,429 | 1,079,519 |
Investments in BOLI | 29,011 | 28,625 |
Liabilities | ||
Savings, NOW and money market accounts | 638,819 | 606,033 |
Time deposits | 448,987 | 432,792 |
Long-term debt | 65,529 | 65,559 |
Short term borrowings | 88,500 | 79,000 |
TRUPs | 12,000 | 12,000 |
Subordinated notes | $ 23,000 | $ 23,000 |
Subsequent Event (Details)
Subsequent Event (Details) - Subsequent Event [Member] - County First Bank Acquisition [Member] - Scenario, Plan [Member] | Jul. 31, 2017USD ($)site$ / sharesshares |
Subsequent Event [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 224,000,000 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Total Deposits | $ 209,000,000 |
Number Of Branch Offices Acquired | site | 5 |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 0.9543 |
Business Acquisition, Share Price | $ / shares | $ 1 |
Business Acquisition, Additional Cash Contngent Cash Consideration | $ 2,154,303 |
Business Acquisition, Maximum Potential Per Share Value | $ / shares | $ 2.24 |