Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 02, 2019 | |
Document Document and Entity Information [Abstract] | ||
Entity Registrant Name | COMMUNITY FINANCIAL CORP /MD/ | |
Entity Central Index Key | 0000855874 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Fiscal Year Focus | 2019 | |
Entity Common Stock, Shares Outstanding | 5,583,492 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and due from banks | ||
Cash and due from banks | $ 26,894 | $ 24,064 |
Federal funds sold | 8,350 | 5,700 |
Interest-bearing deposits with banks | 3,102 | 3,272 |
Securities available for sale (AFS), at fair value | 130,212 | 119,976 |
Securities held to maturity (HTM), at amortized cost | 95,657 | 96,271 |
Equity securities carried at fair value through income | 4,603 | 4,428 |
Non-marketable equity securities held in other financial institutions | 209 | 209 |
Federal Home Loan Bank (FHLB) stock - at cost | 3,236 | 3,821 |
Loans receivable | 1,388,549 | 1,348,105 |
Less: allowance for loan losses | (10,918) | (10,976) |
Net loans | 1,377,631 | 1,337,129 |
Goodwill | 10,835 | 10,835 |
Premises and equipment, net | 22,575 | 22,922 |
Other real estate owned (OREO) | 10,307 | 8,111 |
Accrued interest receivable | 5,431 | 4,957 |
Investment in bank owned life insurance | 36,734 | 36,295 |
Core deposit intangible | 2,450 | 2,806 |
Net deferred tax assets | 5,915 | 6,693 |
Right of use assets - operating leases | 9,729 | |
Other assets | 2,578 | 1,738 |
Total Assets | 1,756,448 | 1,689,227 |
Liabilities and Stockholders’ Equity | ||
Non-interest-bearing deposits | 226,712 | 209,378 |
Interest-bearing deposits | 1,267,730 | 1,220,251 |
Total deposits | 1,494,442 | 1,429,629 |
Short-term borrowings | 10,000 | 35,000 |
Long-term debt | 30,403 | 20,436 |
Guaranteed preferred beneficial interest in junior subordinated debentures (TRUPs) | 12,000 | 12,000 |
Subordinated notes - 6.25% | 23,000 | 23,000 |
Lease liabilities - operating leases | 9,797 | |
Accrued expenses and other liabilities | 13,161 | 14,680 |
Total Liabilities | 1,592,803 | 1,534,745 |
Stockholders’ Equity | ||
Common stock - par value $.01; authorized - 15,000,000 shares; issued 5,582,438 and 5,577,559 shares, respectively | 56 | 56 |
Additional paid in capital | 84,613 | 84,397 |
Retained earnings | 78,689 | 72,594 |
Accumulated other comprehensive income (loss) | 1,044 | (1,847) |
Unearned ESOP shares | (757) | (718) |
Total Stockholders’ Equity | 163,645 | 154,482 |
Total Liabilities and Stockholders’ Equity | $ 1,756,448 | $ 1,689,227 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Subordinated notes interest rate | 6.25% | 6.25% |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 15,000,000 | 15,000,000 |
Common stock, issued (in shares) | 5,582,438 | 5,577,559 |
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, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest and Dividend Income | ||||
Loans, including fees | $ 16,366 | $ 14,483 | $ 32,495 | $ 29,209 |
Interest and dividends on investment securities | 1,677 | 1,211 | 3,300 | 2,306 |
Interest on deposits with banks | 75 | 60 | 120 | 132 |
Total Interest and Dividend Income | 18,118 | 15,754 | 35,915 | 31,647 |
Interest Expense | ||||
Deposits | 3,966 | 2,405 | 7,734 | 4,361 |
Short-term borrowings | 235 | 217 | 569 | 500 |
Long-term debt | 658 | 721 | 1,316 | 1,485 |
Total Interest Expense | 4,859 | 3,343 | 9,619 | 6,346 |
Net Interest Income | 13,259 | 12,411 | 26,296 | 25,301 |
Provision for loan losses | 375 | 400 | 875 | 900 |
Net Interest Income After Provision For Loan Losses | 12,884 | 12,011 | 25,421 | 24,401 |
Noninterest Income | ||||
Gain on sale of assets | 0 | 1 | 0 | 1 |
Unrealized gain (loss) on equity securities | 65 | (78) | 121 | (78) |
Income from bank owned life insurance | 222 | 224 | 439 | 450 |
Total Noninterest Income | 1,253 | 901 | 2,314 | 1,932 |
Noninterest Expense | ||||
Salary and employee benefits | 4,881 | 5,129 | 9,684 | 10,176 |
Occupancy expense | 753 | 739 | 1,559 | 1,505 |
Advertising | 163 | 180 | 360 | 339 |
Data processing expense | 755 | 782 | 1,475 | 1,465 |
Professional fees | 606 | 426 | 1,024 | 778 |
Merger and acquisition costs | 0 | 741 | 0 | 3,609 |
Depreciation of premises and equipment | 166 | 202 | 355 | 401 |
Telephone communications | 66 | 69 | 118 | 168 |
Office supplies | 33 | 41 | 70 | 81 |
FDIC Insurance | 160 | 113 | 335 | 311 |
OREO valuation allowance and expenses | 432 | 237 | 488 | 351 |
Core deposit intangible amortization | 175 | 199 | 356 | 404 |
Other | 926 | 891 | 1,697 | 1,828 |
Total Noninterest Expense | 9,116 | 9,749 | 17,521 | 21,416 |
Income before income taxes | 5,021 | 3,163 | 10,214 | 4,917 |
Income tax expense | 1,394 | 828 | 2,710 | 1,361 |
Net Income | $ 3,627 | $ 2,335 | $ 7,504 | $ 3,556 |
Earnings Per Common Share | ||||
Basic (in dollars per share) | $ 0.65 | $ 0.42 | $ 1.35 | $ 0.64 |
Diluted (in dollars per share) | $ 0.65 | $ 0.42 | $ 1.35 | $ 0.64 |
Loan appraisal, credit, and miscellaneous charges [Member] | ||||
Noninterest Income | ||||
Noninterest income | $ 138 | $ 7 | $ 196 | $ 60 |
Service charges [Member] | ||||
Noninterest Income | ||||
Noninterest income | $ 828 | $ 747 | $ 1,558 | $ 1,499 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 3,627 | $ 2,335 | $ 7,504 | $ 3,556 |
Net unrealized holding gains (losses) arising during period, net of tax expense (benefit) of $576 and $(108), and $1,098 and $(376), respectively. | 1,517 | (284) | 2,891 | (991) |
Comprehensive Income | $ 5,144 | $ 2,051 | $ 10,395 | $ 2,565 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement [Abstract] | ||||
Net unrealized holding gains arising during period, tax effect | $ 576 | $ (108) | $ 1,098 | $ (376) |
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax, Portion Attributable to Parent | $ 576 | $ (108) | $ 1,098 | $ (376) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Unearned ESOP Shares [Member] |
Beginning Balance at Dec. 31, 2017 | $ 109,957 | $ 46 | $ 48,209 | $ 63,648 | $ (1,191) | $ (755) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 3,556 | 3,556 | ||||
Unrealized holding gain (loss) on investment securities net of tax | (991) | (991) | ||||
Cash dividend per common share | (1,086) | (1,086) | ||||
Dividend reinvestment | 30 | (30) | ||||
Net change in fair market value over cost of leveraged ESOP shares released | 21 | 21 | ||||
Shares issued for County First Merger | 35,618 | 10 | 35,608 | |||
Repurchase of common stock | (67) | (67) | ||||
Stock based compensation | 238 | 238 | ||||
Ending Balance at Jun. 30, 2018 | 147,246 | 56 | 84,106 | 66,021 | (2,182) | (755) |
Beginning Balance at Mar. 31, 2018 | 145,659 | 56 | 83,947 | 64,309 | (1,898) | (755) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 2,335 | 2,335 | ||||
Unrealized holding gain (loss) on investment securities net of tax | (284) | (284) | ||||
Cash dividend per common share | (543) | (543) | ||||
Dividend reinvestment | 14 | (14) | ||||
Net change in fair market value below cost of leveraged ESOP shares released | (12) | (12) | ||||
Net change in unearned ESOP shares | 0 | 0 | ||||
Repurchase of common stock | (66) | (66) | ||||
Stock based compensation | 133 | 133 | ||||
Ending Balance at Jun. 30, 2018 | 147,246 | 56 | 84,106 | 66,021 | (2,182) | (755) |
Beginning Balance at Dec. 31, 2018 | 154,482 | 56 | 84,397 | 72,594 | (1,847) | (718) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 7,504 | 7,504 | ||||
Unrealized holding gain (loss) on investment securities net of tax | 2,891 | 2,891 | ||||
Cash dividend per common share | (1,341) | (1,341) | ||||
Dividend reinvestment | 51 | (51) | ||||
Net change in fair market value below cost of leveraged ESOP shares released | (4) | (4) | ||||
Net change in unearned ESOP shares | (39) | (39) | ||||
Repurchase of common stock | (17) | (17) | ||||
Stock based compensation | 169 | 169 | ||||
Ending Balance at Jun. 30, 2019 | 163,645 | 56 | 84,613 | 78,689 | 1,044 | (757) |
Beginning Balance at Mar. 31, 2019 | 159,081 | 56 | 84,498 | 75,757 | (473) | (757) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 3,627 | 3,627 | ||||
Unrealized holding gain (loss) on investment securities net of tax | 1,517 | 1,517 | ||||
Cash dividend per common share | (670) | (670) | ||||
Dividend reinvestment | 25 | (25) | ||||
Net change in fair market value below cost of leveraged ESOP shares released | (2) | (2) | ||||
Net change in unearned ESOP shares | 0 | 0 | ||||
Repurchase of common stock | 0 | 0 | ||||
Stock based compensation | 92 | 92 | ||||
Ending Balance at Jun. 30, 2019 | $ 163,645 | $ 56 | $ 84,613 | $ 78,689 | $ 1,044 | $ (757) |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Net unrealized holding gains (losses) arising during period, tax effect | $ 576 | $ (108) | $ 1,098 | $ (376) |
Common stock, dividends, per share, cash paid | $ 0.125 | $ 0.10 | $ 0.25 | $ 0.20 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash Flows from Operating Activities | ||
Net income | $ 7,504 | $ 3,556 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision for loan losses | 875 | 900 |
Depreciation and amortization | 813 | 831 |
Net (gains) losses on the sale of OREO | (188) | 8 |
Unrealized (gains) losses on equity securities | (121) | 78 |
Gain on sale of assets | 0 | (1) |
Net amortization of premium/discount on investment securities | (77) | 166 |
Net accretion of merger accounting adjustments | (381) | (477) |
Amortization of core deposit intangible | 356 | 404 |
Net change in right of use assets and lease liabilities | 68 | |
Increase in OREO valuation allowance | 637 | 283 |
Increase in cash surrender value of bank owned life insurance | (439) | (446) |
Deferred income tax benefit | (320) | 314 |
(Increase) decrease in accrued interest receivable | (474) | 143 |
Stock based compensation | 169 | 238 |
Net change due to (deficit) excess of fair market value over cost of leveraged ESOP shares released | (4) | 21 |
Increase in net deferred loan costs | (181) | (35) |
Decrease in accrued expenses and other liabilities | (1,519) | (114) |
(Increase) decrease in other assets | (843) | 1,024 |
Net Cash Provided by Operating Activities | 5,875 | 6,893 |
Cash Flows from Investing Activities | ||
Purchase of AFS investment securities | (13,112) | (20,550) |
Proceeds from redemption or principal payments of AFS investment securities | 6,959 | 3,812 |
Purchase of HTM investment securities | (8,495) | (8,360) |
Proceeds from maturities or principal payments of HTM investment securities | 9,040 | 9,735 |
Proceeds from sale of AFS investment securities | 0 | 34,919 |
Net decrease of FHLB stock | 586 | 3,169 |
Loans originated or acquired | (226,582) | (144,067) |
Principal collected on loans | 182,797 | 143,993 |
Purchase of premises and equipment | (466) | (480) |
Proceeds from sale of OREO | 324 | 982 |
Net cash acquired in business combination | 0 | 32,411 |
Proceeds from disposal of asset | 0 | 1,292 |
Net Cash (Used in) Provided by Investing Activities | (48,949) | 56,856 |
Cash Flows from Financing Activities | ||
Net increase in deposits | 64,814 | 18,404 |
Proceeds from long-term debt | 10,000 | 0 |
Payments of long-term debt | (33) | (25,032) |
Net decrease in short term borrowings | (25,000) | (51,000) |
Dividends paid | (1,341) | (1,086) |
Net change in unearned ESOP shares | (39) | 0 |
Repurchase of common stock | (17) | (67) |
Net Cash Provided by (Used in) Financing Activities | 48,384 | (58,781) |
Increase in Cash and Cash Equivalents | 5,310 | 4,968 |
Cash and Cash Equivalents - January 1 | 33,036 | 15,417 |
Cash and Cash Equivalents - June 30 | 38,346 | 20,385 |
Cash paid during the period for | ||
Interest | 9,524 | 3,403 |
Income taxes | 3,853 | 2,549 |
Supplemental Schedule of Non-Cash Operating Activities | ||
Issuance of common stock for payment of compensation | 107 | 321 |
Transfer from loans to OREO | 3,249 | 101 |
Financed amount of sale of OREO | 280 | 0 |
Supplemental Schedule of Non-Cash Investing and Financing Activities | ||
Right-of use assets and lease liability recorded upon adoption of ASC 842 | 9,992 | 0 |
Business Combination Non-Cash Disclosures | ||
Assets acquired in business combination (net of cash received) | 0 | 192,259 |
Liabilities assumed in business combination | $ 0 | $ 200,660 |
Basis of Presentation and Natur
Basis of Presentation and Nature of Operations | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Nature of Operations | BASIS OF PRESENTATION AND NATURE OF OPERATIONS 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. Management believes that the disclosures are adequate to make the information presented not misleading. The balances as of December 31, 2018 have been derived from audited financial statements. Additions to the Company’s accounting policies are disclosed in the 2018 Annual Report as well as the adoption of new accounting standards included in Note 1. The results of operations for the six months June 30, 2019 are not necessarily indicative of the results of operations to be expected for the remainder of the year or any other period. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s 2018 Annual Report on Form 10‑K. Reclassification Certain items in prior financial statements have been reclassified to conform to the current presentation. OREO losses of $8,000 for the three and six months ended June 30, 2018 were reclassified from noninterest income to noninterest expense. OREO related income and expenses are presented in the OREO valuation allowance and expenses financial statement line item. Nature of Operations The Company provides financial services to individuals and businesses through its offices in Southern Maryland, Annapolis, Maryland 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 is headquartered in Southern Maryland with 11 branches located in Maryland including Waldorf ( two branches), Bryans Road, Dunkirk, Leonardtown, La Plata ( two branches), Charlotte Hall, Prince Frederick, Lusby, California, Maryland; and one branch in Fredericksburg, Virginia. The Bank's two operation centers are located at the main office in Waldorf, Maryland and in Fredericksburg, Virginia. The Company maintains five loan production offices (“LPOs”) in Annapolis, La Plata, Prince Frederick and Leonardtown, Maryland; and Fredericksburg, Virginia. The Leonardtown LPO is co-located with the branch and the Fredericksburg LPO is co-located with the operation center. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amount of income and expenses during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, real estate acquired in the settlement of loans, fair value of financial instruments, fair value of assets acquired, and liabilities assumed in a business combination, evaluating other-than-temporary-impairment of investment securities and valuation of deferred tax assets. New Accounting Policy See Note 1 – Summary of Significant Accounting Policies included in the Company’s 2018 Annual Report on Form 10‑K for a list of policies in effect as of December 31, 2018 . The below summary is intended to provide updates or new policies required as a result of a new accounting standard or a change to the Company’s operations or assets that require a new or amended policy. Commitments and Contingencies The Company leases certain properties and land under operating leases. For leases in effect upon adoption of Accounting Standards Update 2016-2, “Leases (Topic 842)” at January 1, 2019 and for any leases commencing thereafter, the Company recognizes a liability to make lease payments, the “lease liability”, and an asset representing the right to use the underlying asset during the lease term, the “right-of-use asset”. The lease liability is measured at the present value of the remaining lease payments, discounted at the Company's incremental borrowing rate. The right-of-use asset is measured at the amount of the lease liability adjusted for the remaining balance of any lease incentives received, any cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, any unamortized initial direct costs, and any impairment of the right-of-use-asset. Operating lease expense consists of a single lease cost calculated so that the remaining cost of the lease is allocated over the remaining lease term on a straight-line basis. Certain of the Company's leases contain options to renew the lease. Renewal options are included in the calculation of the lease liabilities when they are reasonably certain to be exercised. The Company's leases do not contain residual value guarantees. The Company's variable lease payments are expensed and classified as operating activities in the statement of cash flows. The Company does not have any material restrictions or covenants imposed by leases that would impact the Company's ability to pay dividends or cause the Company to incur additional financial obligations. Recent Accounting Pronouncements Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) ASU 2016‑2 - "Leases" (Topic 842). In February 2016, the FASB amended existing guidance that requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) 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. Leases will be classified as either finance or operating with classification affecting the pattern of expense recognition in the income statement. Under the new guidance, lessor accounting is largely unchanged. ASU 2016-2 was effective for the Company on January 1, 2019 and initially required 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. In July 2018, the FASB issued ASU 2018-11, “Leases (Topic 842) – Targeted Improvements,” which, among other things, provides an additional transition method that would allow entities not to apply the guidance in ASU 2016-2 in the comparative periods presented in the financial statements and instead to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. In December 2018 , the FASB also issued ASU 2018-20, “Leases (Topic 842) - Narrow-Scope Improvements for Lessors,” which provides for certain policy elections and changes lessor accounting for sales taxes and similar taxes as well as certain lessor costs. Upon adoption of ASU 2016-2, ASU 2018-11 and ASU 2018-20 on January 1, 2019, the Company recognized right-of-use assets and related lease liabilities of $10.2 million and $10.2 million , respectively. Certain practical expedients provided under ASU 2016-2 were applied whereby management did not reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. In addition, the recognition requirements of ASU 2016-2 were not applied to any short-term leases (as defined by related accounting guidance). Lease and non-lease components were accounted for separately because such amounts are readily determinable under our lease contracts. The Company utilized the modified-retrospective transition approach prescribed by ASU 2018-11. See Note 7 – Commitments & Contingencies for additional disclosures related to leases. ASU 2016‑13 - "Financial Instruments - Credit Losses" (Topic 326) - 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 are not measured at fair value through net income. The standard will replace the current “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 their current method, except that the credit 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 currently required. The ASU also simplifies the accounting model for purchase credit impaired (“PCI”) 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 (“ALLL”). In addition, entities will disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. 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 has formed a CECL committee with representatives from various departments. The committee has selected a third-party vendor solution to assist in the application of the ASU 2016-13. The committee continues to make progress in accordance with the Company's implementation plan for adoption. The Company has developed new expected credit loss estimation models, depending on the nature of each identified pool of financial assets with similar risk characteristics and is currently reviewing and analyzing the different methodologies to estimate expected credit losses. The Company is also working on documenting new processes and controls, challenging estimated credit loss model assumptions and outputs, refining the qualitative framework as well as drafting policies and disclosures. Additionally, parallel runs will be enhanced throughout 2019 as the processes, controls, and policies are finalized. The adoption of the ASU 2016-13 could result in an increase or decrease in the allowance for loan losses as a result of changing from an “incurred loss” model to an “expected loss” model. Furthermore, ASU 2016-13 will necessitate the establishment of an allowance for expected credit losses for certain debt securities and other financial assets. While management is currently unable to reasonably estimate the impact of adopting ASU 2016-13, the impact of adoption will be significantly influenced by the composition, characteristics, and quality of the loan and securities portfolios as well as the prevailing economic conditions and forecasts as of the adoption date. On July 17, 2019, the Financial Accounting Standards Board voted to issue for public comment a proposal that would delay the required implementation date for ASU 2016-13 until fiscal years beginning after December 12, 2022 for certain entities. The delay would apply to small reporting companies (as defined by the SEC), non-SEC public companies and private companies. The Company's CECL committee is continuing to evaluate the provisions of ASU 2016-13 as well as the proposed new implementation deadlines to determine the new standard's impact on the company’s consolidated financial statements. Under current guidance, ASU 2016-13 will be 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. Management expects to recognize a one-time cumulative effect adjustment to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective. ASU 2017‑4 - "Intangibles - Goodwill and Other" (Topic 350) - Simplifying the Test for Goodwill Impairment. ASU 2017‑4 eliminates Step 2 from the goodwill impairment test which required entities to compute the implied fair value of goodwill. Under ASU 2017‑4, an entity should perform an annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017‑4 will be effective for the Company on January 1, 2020, with earlier adoption permitted and is not expected to have a significant impact on the Company’s financial statements. ASU 2018‑13 - "Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement". In August 2018, the FASB issued ASU No. 2018‑13. This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018‑13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to early adopt any eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. As ASU No. 2018‑13 only revises disclosure requirements, it will not have a material impact on the Company’s consolidated financial statements. ASU 2019-4 - "Codification Improvements to Topic 326, Financial Instruments - Credit Losses" (Topic 815). Derivatives and Hedging, and Topic 825, Financial Instruments. In April 2019, the FASB issued ASU No. 2019-04. With respect to Topic 326, Financial Instruments - Credit Losses, ASU 2019-04 clarifies the scope of the credit losses standard and addresses issues related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other things. With respect to Topic 825, Financial Instruments, on recognizing and measuring financial instruments, ASU 2019-04 addresses the scope of the guidance, the requirement for remeasurement under ASC 820 when using the measurement alternative, certain disclosure requirements and which equity securities have to be remeasured at historical exchange rates. The amendments to Topic 326 have the same effective dates as ASU 2016-13. The Company is currently evaluating the potential impact of Topic 326 amendments on the Company's Consolidated Financial Statements. The amendments to Topic 825 are effective for interim and annual reporting periods beginning after December 15, 2019 and are not expected to have a material impact on the Company's Consolidated Financial Statements. ASU 2019-5 - "Financial Instruments - Credit Losses" (Topic 326) - Targeted Transition Relief. In May 2019, the FASB issued ASU No. 2019-05. This ASU allows entities to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that (1) were previously recorded at amortized cost and (2) are within the scope of ASC 326-20 if the instruments are eligible for the fair value option under ASC 825-10. The fair value option election does not apply to held-to-maturity debt securities. On July 17, 2019, the Financial Accounting Standards Board voted to issue for public comment a proposal that would delay the required implementation date for ASU 2016-13 until fiscal years beginning after December 15, 2022 for certain entities. The delay would apply to small reporting companies (as defined by the SEC), non-SEC public companies and private companies. The ASU 2016-13 proposal could impact the election timing of ASU 2019-5 since ASU 2019-05 had the same effective date as ASU 2016-13. Entities are required to make this election on an instrument-by-instrument basis. The Company is evaluating the impact of electing the fair value option of ASU 2019-05 on the Company's Consolidated Financial Statements. |
Securities
Securities | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | SECURITIES (dollars in thousands) June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential Mortgage Backed Securities ("MBS") $ 12,000 $ 54 $ 21 $ 12,033 Residential Collateralized Mortgage Obligations ("CMOs") 105,150 1,761 377 106,534 U.S. Agency 11,621 95 71 11,645 Total securities available for sale $ 128,771 $ 1,910 $ 469 $ 130,212 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS 28,639 590 21 29,208 Residential CMOs 50,025 353 278 50,100 U.S. Agency 9,804 140 51 9,893 Asset-backed securities issued by others: Residential CMOs 435 4 14 425 Callable GSE agency bonds 5,005 — 8 4,997 Certificates of deposit fixed 250 — — 250 U.S. government obligations 1,499 — — 1,499 Total securities held to maturity $ 95,657 $ 1,087 $ 372 $ 96,372 Equity securities carried at fair value through income CRA investment fund $ 4,603 $ — $ — $ 4,603 Non-marketable equity securities Other equity securities $ 209 $ — $ — $ 209 (dollars in thousands) December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 7,641 $ 1 $ 281 $ 7,361 Residential CMOs 102,411 199 1,870 100,740 U.S. Agency 12,472 9 606 11,875 Total securities available for sale $ 122,524 $ 209 $ 2,757 $ 119,976 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 25,948 $ 75 $ 756 $ 25,267 Residential CMOs 52,375 64 1,360 51,079 U.S. Agency 10,508 7 404 10,111 Asset-backed securities issued by others: Residential CMOs 482 — 41 441 Callable GSE agency bonds 5,009 — 110 4,899 Certificates of deposit fixed 950 — — 950 U.S. government obligations 999 — 1 998 Total securities held to maturity $ 96,271 $ 146 $ 2,672 $ 93,745 Equity securities carried at fair value through income CRA investment fund $ 4,428 $ — $ — $ 4,428 Non-marketable equity securities Other equity securities $ 209 $ — $ — $ 209 At June 30, 2019 and December 31, 2018 securities with an amortized cost of $44.6 million and $41.3 million were pledged to secure certain customer deposits. At June 30, 2019 , no securities were pledged as collateral for advances from the Federal Home Loan Bank (“FHLB”) of Atlanta, and at December 31, 2018 , securities with an amortized cost of $3.3 million were pledged as collateral for advances from the Federal Home Loan Bank (“FHLB”) of Atlanta. At June 30, 2019 and December 31, 2018 , 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. At June 30, 2019 and December 31, 2018 , AFS asset-backed securities issued by GSEs and U.S. Agencies had average lives of 3.80 years and 4.37 years and average durations of 3.45 years and 3.86 years and were guaranteed by their issuer as to credit risk. HTM asset-backed securities issued by GSEs and U.S. Agencies had average lives of 4.41 years and 4.88 years and average durations of 3.93 years and 4.25 years and were 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. 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 during the six months ended June 30, 2019 and the year ended December 31, 2018 . During the three and six months ended June 30, 2019 and the year ended December 31, 2018 , there were no sales of securities in the ordinary course of operations. During January of 2018, the Company sold virtually all of the acquired securities from the County First acquisition netting proceeds of $34.9 million which served as the fair value of the acquired securities. ASC 320 “Investments - Debt Securities.” permits the sale of HTM securities for certain changes in circumstances. The Company may dispose of HTM securities using the safe harbor rule that allows for the sale of HTM securities when principal repayments have reduced the balance 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 individual AFS securities have been in a continuous unrealized loss position at June 30, 2019 , and December 31, 2018 were as follows: June 30, 2019 Less Than 12 Months More Than 12 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 $ — $ — $ 32,400 $ 469 $ 32,400 $ 469 $ — $ — $ 32,400 $ 469 $ 32,400 $ 469 December 31, 2018 Less Than 12 Months More Than 12 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 $ 30,095 $ 163 $ 54,846 $ 2,594 $ 84,941 $ 2,757 $ 30,095 $ 163 $ 54,846 $ 2,594 $ 84,941 $ 2,757 At June 30, 2019 and December 31, 2018 , the AFS investment portfolio had an estimated fair value of $130.2 million and $120.0 million , of which $32.4 million and $84.9 million , respectively, of the securities had 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. At June 30, 2019 and December 31, 2018 , total unrealized losses were $0.5 million and $2.8 million of the portfolio amortized cost of $128.8 million and $122.5 million , respectively. At June 30, 2019 and December 31, 2018 , AFS asset-backed securities issued by GSEs and U.S. Agencies with unrealized losses had average lives of 3.97 years and 4.32 years and average durations of 3.63 years and 3.83 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, 2019 and December 31, 2018 were as follows: June 30, 2019 Less Than 12 Months More Than 12 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 $ — $ — $ 32,989 $ 350 $ 32,989 $ 350 Callable GSE Agency Bonds — — 4,998 8 4,998 8 Asset-backed securities issued by others — — 425 14 425 14 $ — $ — $ 38,412 $ 372 $ 38,412 $ 372 December 31, 2018 Less Than 12 Months More Than 12 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 $ 6,955 $ 38 $ 70,752 $ 2,483 $ 77,707 $ 2,521 Callable GSE Agency Bonds — — 4,899 110 4,899 110 Asset-backed securities issued by others — — 441 41 441 41 $ 6,955 $ 38 $ 76,092 $ 2,634 $ 83,047 $ 2,672 At June 30, 2019 and December 31, 2018 , respectively, the HTM investment portfolio had an estimated fair value of $96.4 million and $93.7 million of which $38.4 million and $83.0 million of the securities had unrealized losses from their amortized cost. Of these securities, at June 30, 2019 and December 31, 2018 , $38.0 million and $82.6 million were asset-backed securities issued by GSEs and U.S. Agencies and the remaining $425,000 and $441,000 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. At June 30, 2019 and December 31, 2018 , total unrealized losses on the portfolio were $0.4 million and $2.7 million of the portfolio amortized cost of $93.5 million and $84.3 million , respectively. At June 30, 2019 and December 31, 2018 , the securities with unrealized losses had average lives of 4.41 years and 4.88 years and average durations of 3.63 years and 4.26 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. At June 30, 2019 and December 31, 2018 , total unrealized losses on the asset-backed securities issued by others were $14,000 and $41,000 of the portfolio amortized cost of $435,000 and $482,000 , respectively. At June 30, 2019 and December 31, 2018 , HTM asset-backed securities issued by others with unrealized losses had average lives of 3.79 years and 3.01 years and average durations of 3.21 years and 2.33 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 securities at June 30, 2019 and December 31, 2018 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, 2019 December 31, 2018 Credit Rating Amount Credit Rating Amount (dollars in thousands) AAA $ 225,434 AAA $ 215,765 BB 435 BB 482 B+ — B+ — Total $ 225,869 Total $ 216,247 |
Loans
Loans | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans | LOANS Loans consist of the following: June 30, 2019 December 31, 2018 (dollars in thousands) PCI All other loans** Total %of Gross Loans PCI All other loans** Total %of Gross Loans Commercial real estate $ 1,725 $ 916,223 $ 917,948 66.18 % $ 1,785 $ 876,231 $ 878,016 65.18 % Residential first mortgages 451 156,219 156,670 11.29 % 466 156,243 156,709 11.63 % Residential rentals 327 121,663 121,990 8.79 % 897 123,401 124,298 9.23 % Construction and land development — 35,662 35,662 2.57 % — 29,705 29,705 2.21 % Home equity and second mortgages 269 35,597 35,866 2.59 % 72 35,489 35,561 2.64 % Commercial loans — 67,617 67,617 4.87 % — 71,680 71,680 5.32 % Consumer loans — 967 967 0.07 % — 751 751 0.06 % Commercial equipment — 50,466 50,466 3.64 % — 50,202 50,202 3.73 % Gross loans 2,772 1,384,414 1,387,186 100.00 % 3,220 1,343,702 1,346,922 100.00 % Net deferred costs — 1,363 1,363 0.10 % — 1,183 1,183 0.09 % Total loans, net of deferred costs $ 2,772 $ 1,385,777 $ 1,388,549 $ 3,220 $ 1,344,885 $ 1,348,105 Less: allowance for loan losses — (10,918 ) (10,918 ) (0.79 )% — (10,976 ) (10,976 ) (0.81 )% Net loans $ 2,772 $ 1,374,859 $ 1,377,631 $ 3,220 $ 1,333,909 $ 1,337,129 ______________________________________ ** All other loans include acquired Non-PCI pools. At June 30, 2019 and December 31, 2018 , the Bank’s allowance for loan losses totaled $10.9 million and $11.0 million , or 0.79% and 0.81% , 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. Net deferred loan costs of $1.4 million at June 30, 2019 included deferred fees paid by customers of $3.2 million offset by deferred costs of $4.6 million , which include premiums paid for the purchase of residential first mortgages and deferred costs recorded in accordance with ASC 310-20 to capture loan origination costs. Net deferred loan costs of $1.2 million at December 31, 2018 included deferred fees paid by customers of $3.1 million offset by deferred costs of $4.3 million . Risk Characteristics of Portfolio Segments Concentrations of Credit - Loans are primarily made within the Company’s operating footprint of Southern Maryland, Annapolis, Maryland and the greater Fredericksburg area of Virginia. Real estate loans can be affected by the condition of the local real estate market. Commercial and industrial loans can be affected by the local economic conditions. The commercial loan portfolio has concentrations in business loans secured by real estate and real estate development loans. At June 30, 2019 and December 31, 2018 , the Company had no loans outstanding with foreign entities. 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 8.3% and 5.9% of the CRE portfolio at June 30, 2019 and December 31, 2018 , 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 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, 2019 and the year ended December 31, 2018 , the Bank purchased residential first mortgages of $15.3 million and $11.0 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 $54.5 million or 3.9% of total gross loans of $1.39 billion at June 30, 2019 compared to $54.2 million or 4.0% of total gross loans of $1.35 billion at December 31, 2018 . 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, 2019 and December 31, 2018 , $93.3 million and $96.6 million , respectively, were 1‑4 family units and $28.7 million and $27.7 million , respectively, were apartment buildings or multi-family units. 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 $97.8 million or 7.1% of total gross loans of 1.39 billion at June 30, 2019 compared to $97.4 million or 7.2% of total gross loans of $ 1.35 billion at December 31, 2018 . 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 adverse conditions in the rental real estate market or the economy to a greater extent 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 financing 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. Although residential real estate values have increased over the last several years, default risks remain heightened as the market value of residential property has not fully returned to pre-financial crisis levels and interest rates began to increase in 2017 and 2018. Commercial Loans The Bank offers its business customers 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 borrower 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 Aging Analysis of Current and Past Due Loans Non-accrual loans as of June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 (dollars in thousands) Non-accrual Delinquent Loans Number of Loans Non-accrual Current Loans Number of Loans Total Non-accrual Loans Total Number of Loans Commercial real estate $ 8,938 9 $ 852 4 $ 9,790 13 Residential first mortgages 146 1 846 3 992 4 Residential rentals — — 971 5 971 5 Home equity and second mortgages 416 5 — — 416 5 Commercial loans 819 2 — — 819 2 Commercial equipment 281 5 19 1 300 6 $ 10,600 22 $ 2,688 13 $ 13,288 35 December 31, 2018 (dollars in thousands) Non-accrual Number of Loans Non-accrual Number Total Total Commercial real estate $ 8,474 11 $ 6,158 6 $ 14,632 17 Residential first mortgages 146 1 1,228 4 1,374 5 Residential rentals 260 2 703 3 963 5 Home equity and second mortgages 147 2 — — 147 2 Commercial loans 866 2 — — 866 2 Commercial equipment 1,259 5 41 2 1,300 7 $ 11,152 23 $ 8,130 15 $ 19,282 38 Non-accrual loans decreased $6.0 million from $19.3 million or 1.43% of total loans at December 31, 2018 to $13.3 million or 0.96% of total loans at June 30, 2019 . Loans can be current but classified as non-accrual due to customer operating results or payment history. All interest accrued but not collected from loans that are placed on non-accrual or charged-off is reversed against interest income. In accordance with the Company’s policy, interest income is recognized on a cash basis or cost-recovery method, until qualifying for return to accrual status. At June 30, 2019 , non-accrual loans of $13.3 million included 35 loans, of which $10.8 million, or 81% represented 12 loans and four customer relationships. Non-accrual loans of $2.7 million ( 20% ) were current with all payments of principal and interest with no impairment at June 30, 2019 . Delinquent non-accrual loans were $10.6 million ( 80% ) with specific reserves of $886,000 at June 30, 2019 . At December 31, 2018 , non-accrual loans of $19.3 million included 38 loans, of which $ 15.3 million, or 79% represented 13 loans and four customer relationships. During the year ended December 31, 2018 , non-accrual loans increased $14.6 million primarily as a result of one well-secured classified relationship of $10.1 million that was placed on non-accrual during the second quarter of 2018. At December 31, 2018 , there were $8.1 million ( 42% ) of non-accrual loans current with all payments of principal and interest with no impairment and $11.2 million ( 58% ) of delinquent non-accrual loans with a total of $978,000 specifically reserved. Non-accrual loans included TDRs totaling $52,000 and $29,000 at June 30, 2019 and December 31, 2018 , respectively. These loans were classified solely as non-accrual for the calculation of financial ratios. Loan delinquency (90 days or greater delinquent and 31‑89 days delinquent) increased $402,000 from $12.2 million , or 0.91% of loans, at December 31, 2018 to $12.6 million , or 0.91% of loans, at June 30, 2019 . Non-accrual loans on which the recognition of interest has been discontinued, which did not have a specific allowance for impairment, amounted to $11.6 million and $17.4 million at June 30, 2019 and December 31, 2018 , respectively. Interest due but not recognized on these balances at June 30, 2019 and December 31, 2018 was $245,000 and $456,000 , respectively. Non-accrual loans with a specific allowance for impairment on which the recognition of interest has been discontinued amounted to $1.7 million and $1.9 million at June 30, 2019 and December 31, 2018 , respectively. Interest due but not recognized on these balances at June 30, 2019 and December 31, 2018 was $143,000 and $81,000 , respectively. The Company considers a loan to be past due or delinquent when the terms of the contractual obligation are not met by the borrower. PCI loans are included as a single category in the table below as management believes, regardless of their age, there is a lower likelihood of aggregate loss related to these loan pools. Additionally, PCI loans are discounted to allow for the accretion of income on a level yield basis over the life of the loan based on expected cash flows. Regardless of payment status, as long as cash flows can be reasonably estimated, the associated discount on these loan pools results in income recognition. Past due and PCI loans as of June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 (dollars in thousands) 31‑60 Days 61‑89 Days 90 or Greater Days Total Past Due PCI Loans Current Total Loan Receivables Commercial real estate $ 309 $ 1,058 $ 8,938 $ 10,305 $ 1,725 $ 905,918 $ 917,948 Residential first mortgages — 328 146 474 451 155,745 156,670 Residential rentals — 321 — 321 327 121,342 121,990 Construction and land dev. — — — — — 35,662 35,662 Home equity and second mtg. 24 106 310 440 269 35,157 35,866 Commercial loans — — 819 819 — 66,798 67,617 Consumer loans 1 — — 1 — 966 967 Commercial equipment 30 10 246 286 — 50,180 50,466 Total $ 364 $ 1,823 $ 10,459 $ 12,646 $ 2,772 $ 1,371,768 $ 1,387,186 December 31, 2018 (dollars in thousands) 31‑60 Days 61‑89 Days 90 or Greater Days Total Past Due PCI Loans Current Total Loan Receivables Commercial real estate $ — $ 677 $ 8,474 $ 9,151 $ 1,785 $ 867,080 $ 878,016 Residential first mortgages — 66 146 212 466 156,031 156,709 Residential rentals 13 53 247 313 897 123,088 124,298 Construction and land dev. — — — — — 29,705 29,705 Home equity and second mtg. 266 — 147 413 72 35,076 35,561 Commercial loans — — 866 866 — 70,814 71,680 Consumer loans 1 4 — 5 — 746 751 Commercial equipment 25 29 1,230 1,284 — 48,918 50,202 Total $ 305 $ 829 $ 11,110 $ 12,244 $ 3,220 $ 1,331,458 $ 1,346,922 Impaired Loans and Troubled Debt Restructures (“TDRs”) Impaired loans, including TDRs, at June 30, 2019 and 2018 and at December 31, 2018 were as follows: June 30, 2019 (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 YTD Commercial real estate $ 20,933 $ 18,512 $ 2,406 $ 20,918 $ 289 $ 20,975 $ 214 $ 21,075 $ 410 Residential first mortgages 2,124 2,123 — 2,123 — 2,129 20 2,139 41 Residential rentals 971 971 — 971 — 978 17 985 30 Construction and land dev. — — — — — — — — — Home equity and second mtg. 482 471 — 471 — 476 5 461 9 Commercial loans 2,638 1,807 819 2,626 700 2,629 27 2,649 54 Commercial equipment 367 131 218 349 192 357 2 369 4 Total $ 27,515 $ 24,015 $ 3,443 $ 27,458 $ 1,181 $ 27,544 $ 285 $ 27,678 $ 548 June 30, 2018 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Recorded Total Recorded Related Allowance Quarter Average Quarter YTD YTD Commercial real estate $ 26,804 $ 24,923 $ 1,569 $ 26,492 $ 182 $ 26,609 $ 214 $ 26,695 $ 469 Residential first mortgages 2,473 2,434 — 2,434 — 2,480 26 2,490 53 Residential rentals 1,430 1,396 — 1,396 — 1,440 18 1,450 35 Construction and land dev. 729 — 729 729 210 729 10 729 20 Home equity and second mtg. 303 213 86 299 7 304 3 306 7 Commercial loans 2,792 1,892 900 2,792 458 2,793 32 2,793 52 Consumer loans 2 1 1 2 1 2 — 2 — Commercial equipment 1,645 1,021 622 1,643 508 1,661 13 1,692 29 Total $ 36,178 $ 31,880 $ 3,907 $ 35,787 $ 1,366 $ 36,018 $ 316 $ 36,157 $ 665 December 31, 2018 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance YTD Average Recorded Investment YTD Interest Income Recognized Commercial real estate $ 27,835 $ 24,515 $ 3,025 $ 27,540 $ 326 $ 27,833 $ 1,275 Residential first mortgages 2,527 2,527 — 2,527 — 2,573 126 Residential rentals 1,745 1,745 — 1,745 — 1,792 85 Construction and land dev. 729 729 — 729 — 729 45 Home equity and second mtg. 294 288 — 288 — 291 13 Commercial loans 2,762 1,888 863 2,751 700 2,804 118 Consumer loans 1 — 1 1 1 — Commercial equipment 1,315 1,121 178 1,299 153 1,354 31 Total $ 37,208 $ 32,813 $ 4,067 $ 36,880 $ 1,180 $ 37,377 $ 1,693 TDRs included in the impaired loan schedules above, as of June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Dollars Number of Loans Dollars Number of Loans Commercial real estate $ 2,082 4 $ 5,612 7 Residential first mortgages 65 1 66 1 Residential rentals — — 216 1 Construction and land development — — 729 2 Commercial loans — — 53 1 Commercial equipment 101 3 29 1 Total TDRs $ 2,248 8 $ 6,705 13 Less: TDRs included in non-accrual loans (52 ) (2 ) (29 ) (1 ) Total accrual TDR loans $ 2,196 6 $ 6,676 12 TDRs decreased $4.5 million during the second quarter of 2019 due to principal paydowns and refinancing. There was one TDR added during the six months ended June 30, 2019 . The Company had specific reserves of $251,000 on four TDRs totaling $1.6 million at June 30, 2019 . The Company had specific reserves of $165,000 on one TDR totaling $1.6 million at December 31, 2018 . During the year ended December 31, 2018 , TDR disposals, which included payoffs and refinancing, included three loans totaling $3.9 million . TDR loan principal curtailment was $176,000 for the year ended December 31, 2018 . There were no TDRs added during the year ended December 31, 2018 . 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, 2019 and 2018 , 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. Three Months Ended June 30, 2019 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Commercial real estate $ 6,742 $ (4 ) $ 13 $ 258 $ 7,009 Residential first mortgages 722 — — (13 ) 709 Residential rentals 462 — — (4 ) 458 Construction and land development 148 (329 ) — 427 246 Home equity and second mortgages 132 — 2 (3 ) 131 Commercial loans 1,406 — 5 (9 ) 1,402 Consumer loans 8 — 1 — 9 Commercial equipment 1,226 — 9 (281 ) 954 $ 10,846 $ (333 ) $ 30 $ 375 $ 10,918 Purchase Credit Impaired** $ — $ — $ — $ — $ — Six Months Ended June 30, 2019 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Commercial real estate $ 6,882 $ (4 ) $ 15 $ 116 $ 7,009 Residential first mortgages 755 — — (46 ) 709 Residential rentals 498 (53 ) 46 (33 ) 458 Construction and land development 310 (329 ) — 265 246 Home equity and second mortgages 133 — 4 (6 ) 131 Commercial loans 1,482 — 10 (90 ) 1,402 Consumer loans 6 (4 ) 2 5 9 Commercial equipment 910 (685 ) 65 664 954 $ 10,976 $ (1,075 ) $ 142 $ 875 $ 10,918 Purchase Credit Impaired** $ — $ — $ — $ — $ — Three Months Ended June 30, 2018 (dollars in thousands) Beginning Charge-offs Recoveries Provisions Ending Commercial real estate $ 6,664 $ — $ 4 $ (105 ) $ 6,563 Residential first mortgages 937 (76 ) — (124 ) 737 Residential rentals 459 — — 10 469 Construction and land development 482 — — 16 498 Home equity and second mortgages 118 — 5 (19 ) 104 Commercial loans 1,045 (88 ) — 246 1,203 Consumer loans 7 — — — 7 Commercial equipment 759 — 9 376 1,144 $ 10,471 $ (164 ) $ 18 $ 400 $ 10,725 Purchase Credit Impaired** $ — $ — $ — $ — $ — Six Months Ended June 30, 2018 (dollars in thousands) Beginning Charge-offs Recoveries Provisions Ending Commercial real estate $ 6,451 $ (236 ) $ 6 $ 342 $ 6,563 Residential first mortgages 1,144 (113 ) — (294 ) 737 Residential rentals 512 — — (43 ) 469 Construction and land development 462 — — 36 498 Home equity and second mortgages 162 (7 ) 14 (65 ) 104 Commercial loans 1,013 (88 ) — 278 1,203 Consumer loans 7 (1 ) — 1 7 Commercial equipment 764 (299 ) 34 645 1,144 $ 10,515 $ (744 ) $ 54 $ 900 $ 10,725 Purchase Credit Impaired** $ — $ — $ — $ — $ — ** There is no allowance for loan loss on the PCI portfolios. A more detailed rollforward schedule will be presented if an allowance is required. The following tables detail loan receivable and allowance balances disaggregated on the basis of the Company’s impairment methodology at June 30, 2019 and 2018 and December 31, 2018 . June 30, 2019 December 31, 2018 June 30, 2018 (dollars in thousands) Ending balance: individually evaluated for impairment Ending balance: evaluated for Purchase Credit Impaired Total Ending balance: individually evaluated for impairment Ending balance: evaluated for Purchase Credit Impaired Total Ending balance: evaluated for Ending balance: evaluated for Purchase Credit Impaired Total Loan Receivables: Commercial real estate $ 20,918 $ 895,305 $ 1,725 $ 917,948 $ 27,540 $ 848,691 $ 1,785 $ 878,016 $ 26,492 $ 800,450 $ 1,503 $ 828,445 Residential first mortgages 2,123 154,096 451 156,670 2,527 153,716 466 156,709 2,434 160,186 470 163,090 Residential rentals 971 120,692 327 121,990 1,745 121,656 897 124,298 1,396 124,799 1,274 127,469 Construction and land development — 35,662 — 35,662 729 28,976 — 29,705 729 27,646 272 28,647 Home equity and second mortgages 471 35,126 269 35,866 288 35,201 72 35,561 299 36,408 319 37,026 Commercial loans 2,626 64,991 — 67,617 2,751 68,929 — 71,680 2,792 54,727 — 57,519 Consumer loans — 967 — 967 1 750 — 751 2 799 — 801 Commercial equipment 349 50,117 — 50,466 1,299 48,903 — 50,202 1,643 45,775 — 47,418 $ 27,458 $ 1,356,956 $ 2,772 $ 1,387,186 $ 36,880 $ 1,306,822 $ 3,220 $ 1,346,922 $ 35,787 $ 1,250,790 $ 3,838 $ 1,290,415 Allowance for loan losses: Commercial real estate $ 289 $ 6,720 $ — $ 7,009 $ 326 $ 6,556 $ — $ 6,882 $ 182 $ 6,381 $ — $ 6,563 Residential first mortgages — 709 — 709 — 755 — 755 — 737 — 737 Residential rentals — 458 — 458 — 498 — 498 — 469 — 469 Construction and land development — 246 — 246 — 310 — 310 210 288 — 498 Home equity and second mortgages — 131 — 131 — 133 — 133 7 97 — 104 Commercial loans 700 702 — 1,402 700 782 — 1,482 458 745 — 1,203 Consumer loans — 9 — 9 1 5 — 6 1 6 — 7 Commercial equipment 192 762 — 954 153 757 — 910 508 636 — 1,144 $ 1,181 $ 9,737 $ — $ 10,918 $ 1,180 $ 9,796 $ — $ 10,976 $ 1,366 $ 9,359 $ — $ 10,725 Credit Quality Indicators Credit quality indicators as of June 30, 2019 and December 31, 2018 were as follows: Credit Risk Profile by Internally Assigned Grade Commercial Real Estate Construction and Land Dev. Residential Rentals (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Unrated $ 106,552 $ 112,280 $ 2,017 $ 2,172 $ 38,698 $ 37,478 Pass 790,002 741,037 33,645 26,805 82,614 85,551 Special mention — — — — — — Substandard 21,394 24,699 — 728 678 1,269 Doubtful — — — — — — Loss — — — — — — Total $ 917,948 $ 878,016 $ 35,662 $ 29,705 $ 121,990 $ 124,298 Commercial Loans Commercial Equipment Total Commercial Portfolios (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Unrated $ 18,539 $ 19,157 $ 18,230 $ 15,373 $ 184,036 $ 186,460 Pass 46,452 49,828 32,018 33,685 984,731 936,906 Special mention — — — — — — Substandard 2,626 2,695 218 1,144 24,916 30,535 Doubtful — — — — — — Loss — — — — — — Total $ 67,617 $ 71,680 $ 50,466 $ 50,202 $ 1,193,683 $ 1,153,901 Non-Commercial Portfolios ** Total All Portfolios (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Unrated $ 150,159 $ 146,889 $ 334,195 $ 333,349 Pass 42,114 44,441 1,026,845 981,347 Special mention — — — — Substandard 1,230 1,691 26,146 32,226 Doubtful — — — — Loss — — — — Total $ 193,503 $ 193,021 $ 1,387,186 $ 1,346,922 ** Non-commercial portfolios are generally evaluated based on payment activity but may be risk graded if part of a larger commercial relationship or are credit impaired (e.g. non-accrual loans, TDRs). Credit Risk Profile Based on Payment Activity Residential First Mortgages Home Equity and Second Mtg. Consumer Loans (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Performing $ 156,524 $ 156,563 $ 35,556 $ 35,414 $ 967 $ 751 Nonperforming 146 146 310 147 — — Total $ 156,670 $ 156,709 $ 35,866 $ 35,561 $ 967 $ 751 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 $1,000,000 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 have impairment quantified because of an event (e.g., TDRs or nonperforming loans). 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 TDRs 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 rated 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 are 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 wi |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other intangible assets are presented in the tables below. (dollars in thousands) As of June 30, 2019 As of December 31, 2018 Goodwill $ 10,835 $ 10,835 As of June 30, 2019 As of December 31, 2018 (dollars in thousands) Gross Carrying Amount Accumulated Amortization Net Intangible Assets Gross Carrying Amount Accumulated Amortization Net Intangible Assets Core deposit intangible $ 3,590 $ (1,140 ) $ 2,450 $ 3,590 $ (784 ) $ 2,806 The estimated aggregate future amortization expense for intangible assets remaining as of June 30, 2019 is as follows: (dollars in thousands) Remainder of 2019 $ 332 2020 591 2021 495 2022 398 2023 302 Thereafter 332 $ 2,450 |
Other Real Estate Owned ("OREO"
Other Real Estate Owned ("OREO") | 6 Months Ended |
Jun. 30, 2019 | |
Real Estate [Abstract] | |
Other Real Estate Owned ("OREO") | OTHER REAL ESTATE OWNED (“OREO”) OREO assets are presented net of the valuation allowance. The Company considers OREO as classified assets for regulatory and financial reporting. 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. An analysis of OREO activity follows. Six Months Ended June 30, Years Ended December 31, (dollars in thousands) 2019 2018 2018 Balance at beginning of year $ 8,111 $ 9,341 $ 9,341 Additions of underlying property 3,249 238 307 Disposals of underlying property (416 ) (991 ) (1,005 ) Valuation allowance (637 ) (283 ) (532 ) Balance at end of period $ 10,307 $ 8,305 $ 8,111 During the six months ended June 30, 2019 and 2018 , OREO additions were $3.2 million and $238,000 , respectively. During the six months ended June 30, 2019 additions of $3.2 million were for commercial real estate acquired at foreclosure on a $3.8 classified loan relationship recorded at the estimated fair value at the date of foreclosure less selling costs, establishing a new cost basis. During the six months ended June 30, 2018 , additions of $238,000 were for $95,000 of capitalized costs to improve a residential development project and $143,000 for commercial real estate. During the six months ended June 30, 2019 , the Company recognized net gains of $188,000 on disposals of $416,000 for multiple residential lots of $65,000 , a commercial building of $316,000 and commercial equipment of $35,000 . In connection with the sale of the commercial building, the Bank provided a loan of $280,000 . The transaction qualified for sales treatment under ASC Topic 610‑20 “Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets”. During the six months ended June 30, 2018 , the Company recognized net losses of $8,000 on disposals of $991,000 for multiple residential lots of $188,000 , a commercial building of $476,000 and a commercial lot of $327,000 . During the year ended December 31, 2018 , additions of $307,000 consisted of $165,000 of capitalized costs to improve a development project and $142,000 for commercial real estate. The Company disposed of commercial real estate for proceeds of $807,000 and gains of $4,000 along with residential lots for proceeds of $190,000 and a loss of $12,000 for the year ended December 31, 2018 . The Company had $200,000 of impaired loans secured by residential real estate for which formal foreclosure proceedings were in process as of June 30, 2019 . There were no impaired loans secured by residential real estate for which formal foreclosure proceedings were in process as of December 31, 2018 . To adjust properties to current appraised values, additions to the valuation allowance were taken for the six months ended June 30, 2019 and 2018 and the year ended December 31, 2018 . 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. Six Months Ended June 30, (dollars in thousands) 2019 2018 Valuation allowance $ 637 $ 283 Losses (gains) on dispositions (188 ) 8 Operating expenses 39 60 $ 488 $ 351 |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Deposits | DEPOSITS Deposits consist of the following: (dollars in thousands) June 30, 2019 December 31, 2018 Balance % Balance % Noninterest-bearing demand $ 226,712 15.17 % $ 209,378 14.65 % Interest-bearing: Demand 458,686 30.69 % 437,170 30.58 % Money market deposits 277,823 18.59 % 266,160 18.62 % Savings 70,652 4.73 % 69,892 4.89 % Certificates of deposit 460,569 30.82 % 447,029 31.27 % Total interest-bearing 1,267,730 84.83 % 1,220,251 85.35 % Total Deposits $ 1,494,442 100.00 % $ 1,429,629 100.00 % The aggregate amount of certificates of deposit in denominations of $250,000 or more at June 30, 2019 and December 31, 2018 was $126.9 million and $117.2 million , respectively. The FDIC’s examination policies require that the Company monitor all customer deposit concentrations at or above 2% of total deposits. At June 30, 2019 , the Bank had two customer deposit relationships that exceeded 2% of total deposits, totaling $202.3 million which represented 13.54% of total deposits. At December 31, 2018 , the Bank had one customer deposit relationship that exceeded 2% of total deposits, totaling $158.8 million which represented 11.1% of total deposits. |
Commitments & Contingencies
Commitments & Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments & Contingencies | COMMITMENTS & CONTINGENCIES Operating Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. On January 1, 2019, the Company adopted ASU No. 2016-2 “Leases” (Topic 842) and all subsequent ASUs that modified Topic 842. For the Company, Topic 842 primarily affected the accounting treatment for operating lease agreements in which the Company is the lessee. All of the leases in which the Company is the lessee are for branches and office space. All of these leases are classified as operating leases, and therefore, were previously not recognized on the Company’s consolidated balance sheet. With the adoption of Topic 842, operating lease agreements are required to be recognized on the consolidated balance sheet as a right-of-use-asset with a corresponding lease liability. At June 30, 2019 , the Company had lease liabilities totaling $9.8 million and right of use assets totaling $9.7 million related to these leases. Remaining lease terms range from 6 months to 26 years . The right of use assets and lease liabilities are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company's lease agreements often include one or more options to renew at the Company's discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the right of use asset and lease liability. Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception over a similar term. For operating leases existing prior to January 1, 2019, the FHLB fixed advance rate which corresponded with the remaining lease term as of January 1, 2019 was used. For the six months ended June 30, 2019 , the weighted average remaining lease term for operating leases was 18.5 years and the weighted average discount rate used in the measurement of operating leases was 3.51% . Operating lease cost for the six months ended June 30, 2019 was $436,000 and cash paid for amounts included in the measurement of lease liabilities was $368,000 . Rent expense for the six months ended June 30, 2018 , prior to the adoption of ASU 2016-2, was $468,000 which included $66,000 for acquired operating leases for facilities from the County First acquisition. All County First operating leases expired on or before December 31, 2018 . The Company elected to apply certain practical expedients provided under ASU 2016-2 whereby management did not reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. The Company accounted for lease and non-lease components separately because such amounts are readily determinable under our lease contracts. ASC 842 allows a lessee to make an accounting policy election for short term leases whereby short-term lease are not recognized on the balance sheet. However, the Company did not have any short-term leases upon adoption or during the quarter. A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows: (dollars in thousands) As of Lease payments due: Within one year $ 718 After one but within two years 704 After two but within three years 730 After three but within four years 744 After four but within five years 753 After five years 10,066 Total undiscounted cash flows $ 13,715 Discount on cash flows 3,918 Total lease liability $ 9,797 |
Guaranteed Preferred Beneficial
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures ("TRUPs") | 6 Months Ended |
Jun. 30, 2019 | |
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures (TRUPs) [Abstract] | |
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures ("TRUPs") | 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, 2019 | |
Subordinated Borrowings [Abstract] | |
Subordinated Notes | 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. |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Jun. 30, 2019 | |
Regulatory Assets and Liabilities Disclosure [Abstract] | |
Regulatory Capital | REGULATORY CAPITAL On April 18, 2016, 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 is 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 4.50% , 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, 2019 and December 31, 2018 , the Company and Bank were well-capitalized under the regulatory framework for prompt corrective action under the Basel III Capital Rules. Management believes, as of June 30, 2019 and December 31, 2018 , 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 (dollars in thousands) The Company The Bank June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Common equity $ 163,644 $ 154,482 $ 195,736 $ 185,073 Goodwill (10,835 ) (10,835 ) (10,835 ) (10,835 ) Core deposit intangible (net of deferred tax liability) (1,776 ) (2,034 ) (1,776 ) (2,034 ) AOCI losses (1,044 ) 1,847 (1,044 ) 1,847 Common Equity Tier 1 Capital 149,989 143,460 182,081 174,051 TRUPs 12,000 12,000 — — Tier 1 Capital 161,989 155,460 182,081 174,051 Allowable reserve for credit losses and other Tier 2 adjustments 10,969 11,027 10,969 11,027 Subordinated notes 23,000 23,000 — — Tier 2 Capital $ 195,958 $ 189,487 $ 193,050 $ 185,078 Risk-Weighted Assets ("RWA") $ 1,444,651 $ 1,384,807 $ 1,442,319 $ 1,383,048 Average Assets ("AA") $ 1,708,802 $ 1,635,594 $ 1,706,675 $ 1,632,846 2019 Regulatory Min. Ratio + CCB (1) Common Tier 1 Capital to RWA 7.00 % 10.38 % 10.36 % 12.62 % 12.58 % Tier 1 Capital to RWA 8.50 11.21 11.23 12.62 12.58 Tier 2 Capital to RWA 10.50 13.56 13.68 13.38 13.38 Tier 1 Capital to AA (Leverage) (2) n/a 9.48 9.50 10.67 10.66 ____________________________________ (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. (2) Tier 1 Capital to AA (Leverage) has no capital conservation buffer defined. PCA well capitalized is defined as 5.00% . |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 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 were no transfers between Level 1, 2 or 3 in the fair value hierarchy during the three months ending June 30, 2019 . 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. Equity Securities Carried at Fair Value Through Income Equity securities carried at fair value through income 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 equity securities include those traded on an active exchange, such as the New York Stock Exchange. Level 2 equity securities include mutual funds with asset-backed securities issued by government sponsored entities (“GSEs”) as the underlying investment supporting the fund. Equity securities classified as Level 3 include mutual funds with 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, or 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, 2019 and December 31, 2018 , 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. Other Real Estate Owned 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, 2019 and December 31, 2018 measured at fair value on a recurring basis. (dollars in thousands) Description of Asset June 30, 2019 Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 106,534 $ — $ 106,534 $ — MBS 12,033 — 12,033 — U.S. Agency 11,645 — 11,645 — Total available for sale securities $ 130,212 $ — $ 130,212 $ — Equity securities carried at fair value through income CRA investment fund $ 4,603 $ — $ 4,603 $ — (dollars in thousands) Description of Asset December 31, 2018 Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 100,740 $ — 100,740 $ — MBS 7,361 — 7,361 — U.S. Agency 11,875 — 11,875 — Total available for sale securities $ 119,976 $ — $ 119,976 $ — Equity securities carried at fair value through income CRA investment fund $ 4,428 $ — $ 4,428 $ — 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, 2019 and December 31, 2018 were included in the tables below. (dollars in thousands) Description of Asset June 30, 2019 Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 2,117 $ — $ — $ 2,117 Commercial loans 119 — — 119 Commercial equipment 26 — — 26 Total loans with impairment $ 2,262 $ — $ — $ 2,262 Other real estate owned $ 10,307 $ — $ — $ 10,307 (dollars in thousands) Description of Asset December 31, 2018 Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 2,699 $ — $ — $ 2,699 Commercial loans 163 — — 163 Commercial equipment 25 — — 25 Total loans with impairment $ 2,887 $ — $ — $ 2,887 Other real estate owned $ 8,111 $ — $ — $ 8,111 Loans with impairment had unpaid principal balances of $3.4 million and $4.1 million at June 30, 2019 and December 31, 2018 , 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, 2019 and December 31, 2018 . June 30, 2019 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) (dollars in thousands) Description of Asset Loans with impairment $ 2,262 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (34%) Other real estate owned $ 10,307 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (15%) December 31, 2018 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) (dollars in thousands) Description of Asset Loans with impairment $ 2,887 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (29%) Other real estate owned $ 8,111 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (14%) |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Investments, All Other Investments [Abstract] | |
Fair Value of Financial Instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS Financial instruments require disclosure of fair value information, whether or not recognized in the consolidated balance sheets, when it is practical to estimate the fair value. A financial instrument is defined as cash, evidence of an ownership interest in an entity or a contractual obligation which requires the exchange of cash. Certain items are specifically excluded from the financial instrument fair value disclosure requirements, including the Company’s common stock, OREO, premises and equipment and other assets and liabilities. 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. The Company’s estimated fair values of financial instruments are presented in the following tables. June 30, 2019 Carrying Amount Fair Value Fair Value Measurements Description of Asset (dollars in thousands) Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 130,212 $ 130,212 $ — $ 130,212 $ — Investment securities - HTM 95,657 96,372 1,499 94,873 — Equity securities carried at fair value through income 4,603 4,603 — 4,603 Non-marketable equity securities in other financial institutions 209 209 — 209 — FHLB Stock 3,236 3,236 — 3,236 — Net loans receivable 1,377,631 1,351,638 — — 1,351,638 Accrued Interest Receivable 5,431 5,431 — 5,431 — Investment in BOLI 36,734 36,734 — 36,734 — Liabilities Savings, NOW and money market accounts $ 1,033,873 1,033,873 $ — $ 1,033,873 $ — Time deposits 460,569 462,743 — 462,743 — Long-term debt 30,403 30,770 — 30,770 — Short term borrowings 10,000 10,037 — 10,037 — TRUPs 12,000 10,776 — 10,776 — Subordinated notes 23,000 23,041 — 23,041 — See the Company’s methodologies disclosed in Note 21 of the Company’s 2018 Form 10‑K for the fair value methodologies used as of December 31, 2018 : December 31, 2018 Carrying Amount Fair Value Fair Value Measurements Description of Asset (dollars in thousands) Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 119,976 $ 119,976 $ — $ 119,976 $ — Investment securities - HTM 96,271 93,745 999 92,746 — Equity securities carried at fair value through income 4,428 4,428 4,428 — Non-marketable equity securities in other financial institutions 209 209 — 209 — FHLB Stock 3,821 3,821 — 3,821 — Net loans receivable 1,337,129 1,298,465 — — 1,298,465 Accrued Interest Receivable 4,957 4,957 — 4,957 — Investment in BOLI 36,295 36,295 — 36,295 — Liabilities Savings, NOW and money market accounts $ 982,600 982,600 $ — $ 982,600 $ — Time deposits 447,029 446,683 — 446,683 — Long-term debt 20,436 20,568 — 20,568 — Short term borrowings 35,000 35,016 — 35,016 — TRUPs 12,000 10,924 — 10,924 — Subordinated notes 23,000 23,085 — 23,085 — At June 30, 2019 and December 31, 2018 , the Company had outstanding loan commitments and standby letters of credit of $34.7 million and $47.3 million , respectively, and $22.5 million and $21.2 million , respectively. Additionally, at June 30, 2019 and December 31, 2018 , customers had $228.8 million and $211.5 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, 2019 and December 31, 2018 . 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 amounts presented herein. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the components of comprehensive income for the three and six months ended June 30, 2019 and 2018 . The Company’s comprehensive gains and losses and reclassification adjustments were solely for securities for the three and six months ended June 30, 2019 and 2018 . Reclassification adjustments are recorded in non-interest income. (dollars in thousands) Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains (losses) arising during period $ 2,093 $ 576 $ 1,517 $ (392 ) $ (108 ) $ (284 ) Reclassification adjustments — — — — — — Other comprehensive income (loss) $ 2,093 $ 576 $ 1,517 $ (392 ) $ (108 ) $ (284 ) (dollars in thousands) Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains (losses) arising during period $ 3,989 $ 1,098 $ 2,891 $ (1,367 ) $ (376 ) $ (991 ) Reclassification adjustments — — — — — — Other comprehensive income (loss) $ 3,989 $ 1,098 $ 2,891 $ (1,367 ) $ (376 ) $ (991 ) 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, 2019 and 2018 . (dollars in thousands) Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Net Unrealized Gains Net Unrealized Gains Net Unrealized Gains Net Unrealized Gains Beginning of period $ (473 ) $ (1,898 ) $ (1,847 ) $ (1,191 ) Other comprehensive gains (losses), net of tax before reclassifications 1,517 (284 ) 2,891 (991 ) Amounts reclassified from accumulated other comprehensive loss — — — — Net other comprehensive income (loss) 1,517 (284 ) 2,891 (991 ) End of period $ 1,044 $ (2,182 ) $ 1,044 $ (2,182 ) |
Earnings Per Share ("EPS")
Earnings Per Share ("EPS") | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share ("EPS") | 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 have been issued by the Company related to outstanding stock options and were determined using the treasury stock method. The Company has not granted any stock options since 2007 and all outstanding options expired on July 17, 2017. Basic and diluted earnings per share have been computed based on weighted-average common and common equivalent shares outstanding as follows: (dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net Income $ 3,627 $ 2,335 $ 7,504 $ 3,556 Average number of common shares outstanding 5,559,821 5,551,123 5,558,984 5,549,428 Dilutive effect of common stock equivalents — — — — Average number of shares used to calculate diluted EPS 5,559,821 5,551,123 5,558,984 5,549,428 Earnings Per Common Share Basic $ 0.65 $ 0.42 $ 1.35 $ 0.64 Diluted 0.65 0.42 1.35 0.64 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 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 which requires that deferred tax assets and liabilities be recognized using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. If it is more likely than not that some portion or the entire deferred tax asset will not be realized, deferred tax assets will be reduced by a valuation allowance. It is the Company’s policy to recognize accrued interest and penalties related to unrecognized tax benefits as a component of tax expense. (dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Current income tax expense $ 1,653 $ 980 $ 3,030 $ 1,460 Deferred income tax expense (benefit) (259 ) (152 ) (320 ) (99 ) Income tax expense as reported $ 1,394 $ 828 $ 2,710 $ 1,361 Effective tax rate 27.8 % 26.2 % 26.5 % 27.7 % Net deferred tax assets totaled $5.9 million at June 30, 2019 and $6.7 million at December 31, 2018 . No valuation allowance for deferred tax assets was recorded at June 30, 2019 as management believes it is more likely than not that deferred tax assets will be realized against deferred tax liabilities and projected future taxable income. The effective income tax rates differed from the statutory federal and state income tax rates during 2019 and 2018 , respectively, primarily due to the effect of merger related expenses, tax-exempt loans, life insurance policies, the income tax effects associated with stock-based compensation and certain non-deductible expenses for state income taxes. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | 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 $91,000 and $167,000 , respectively, for the three and six months ended June 30, 2019 and $133,000 and $238,000 , respectively, for the three and six months ended June 30, 2018 . Stock-based compensation expense consisted of the vesting of grants of restricted stock. The Company has not granted any stock options since 2007 and all outstanding options expired on July 17, 2017. The Company granted restricted stock in accordance with the Plan. The vesting period for outstanding restricted stock grants is between three and five years . As of June 30, 2019 , and December 31, 2018 , unrecognized stock compensation expense was $366,000 and $430,000 , respectively. The following tables summarize the nonvested restricted stock awards outstanding at June 30, 2019 and December 31, 2018 , respectively. Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2019 25,473 $ 28.76 Granted 3,584 30.00 Vested (13,912 ) 23.85 Cancelled — — Nonvested at June 30, 2019 15,145 $ 26.52 Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2018 32,809 $ 22.61 Granted 10,662 36.43 Vested (17,607 ) 21.85 Cancelled (391 ) 27.69 Nonvested at December 31, 2018 25,473 $ 28.76 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Marketable Securities [Line Items] | |
Securities | (dollars in thousands) June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential Mortgage Backed Securities ("MBS") $ 12,000 $ 54 $ 21 $ 12,033 Residential Collateralized Mortgage Obligations ("CMOs") 105,150 1,761 377 106,534 U.S. Agency 11,621 95 71 11,645 Total securities available for sale $ 128,771 $ 1,910 $ 469 $ 130,212 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS 28,639 590 21 29,208 Residential CMOs 50,025 353 278 50,100 U.S. Agency 9,804 140 51 9,893 Asset-backed securities issued by others: Residential CMOs 435 4 14 425 Callable GSE agency bonds 5,005 — 8 4,997 Certificates of deposit fixed 250 — — 250 U.S. government obligations 1,499 — — 1,499 Total securities held to maturity $ 95,657 $ 1,087 $ 372 $ 96,372 Equity securities carried at fair value through income CRA investment fund $ 4,603 $ — $ — $ 4,603 Non-marketable equity securities Other equity securities $ 209 $ — $ — $ 209 (dollars in thousands) December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale (AFS) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 7,641 $ 1 $ 281 $ 7,361 Residential CMOs 102,411 199 1,870 100,740 U.S. Agency 12,472 9 606 11,875 Total securities available for sale $ 122,524 $ 209 $ 2,757 $ 119,976 Securities held to maturity (HTM) Asset-backed securities issued by GSEs and U.S. Agencies Residential MBS $ 25,948 $ 75 $ 756 $ 25,267 Residential CMOs 52,375 64 1,360 51,079 U.S. Agency 10,508 7 404 10,111 Asset-backed securities issued by others: Residential CMOs 482 — 41 441 Callable GSE agency bonds 5,009 — 110 4,899 Certificates of deposit fixed 950 — — 950 U.S. government obligations 999 — 1 998 Total securities held to maturity $ 96,271 $ 146 $ 2,672 $ 93,745 Equity securities carried at fair value through income CRA investment fund $ 4,428 $ — $ — $ 4,428 Non-marketable equity securities Other equity securities $ 209 $ — $ — $ 209 |
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 securities at June 30, 2019 and December 31, 2018 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, 2019 December 31, 2018 Credit Rating Amount Credit Rating Amount (dollars in thousands) AAA $ 225,434 AAA $ 215,765 BB 435 BB 482 B+ — B+ — Total $ 225,869 Total $ 216,247 |
Available-For-Sale Securities [Member] | |
Marketable Securities [Line Items] | |
Schedule of Unrealized Loss on Investments | AFS Securities Gross unrealized losses and estimated fair value by length of time that individual AFS securities have been in a continuous unrealized loss position at June 30, 2019 , and December 31, 2018 were as follows: June 30, 2019 Less Than 12 Months More Than 12 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 $ — $ — $ 32,400 $ 469 $ 32,400 $ 469 $ — $ — $ 32,400 $ 469 $ 32,400 $ 469 December 31, 2018 Less Than 12 Months More Than 12 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 $ 30,095 $ 163 $ 54,846 $ 2,594 $ 84,941 $ 2,757 $ 30,095 $ 163 $ 54,846 $ 2,594 $ 84,941 $ 2,757 |
Held-To-Maturity Securities [Member] | |
Marketable Securities [Line Items] | |
Schedule of Unrealized Loss on Investments | 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, 2019 and December 31, 2018 were as follows: June 30, 2019 Less Than 12 Months More Than 12 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 $ — $ — $ 32,989 $ 350 $ 32,989 $ 350 Callable GSE Agency Bonds — — 4,998 8 4,998 8 Asset-backed securities issued by others — — 425 14 425 14 $ — $ — $ 38,412 $ 372 $ 38,412 $ 372 December 31, 2018 Less Than 12 Months More Than 12 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 $ 6,955 $ 38 $ 70,752 $ 2,483 $ 77,707 $ 2,521 Callable GSE Agency Bonds — — 4,899 110 4,899 110 Asset-backed securities issued by others — — 441 41 441 41 $ 6,955 $ 38 $ 76,092 $ 2,634 $ 83,047 $ 2,672 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Schedule of Loans Receivable | Loans consist of the following: June 30, 2019 December 31, 2018 (dollars in thousands) PCI All other loans** Total %of Gross Loans PCI All other loans** Total %of Gross Loans Commercial real estate $ 1,725 $ 916,223 $ 917,948 66.18 % $ 1,785 $ 876,231 $ 878,016 65.18 % Residential first mortgages 451 156,219 156,670 11.29 % 466 156,243 156,709 11.63 % Residential rentals 327 121,663 121,990 8.79 % 897 123,401 124,298 9.23 % Construction and land development — 35,662 35,662 2.57 % — 29,705 29,705 2.21 % Home equity and second mortgages 269 35,597 35,866 2.59 % 72 35,489 35,561 2.64 % Commercial loans — 67,617 67,617 4.87 % — 71,680 71,680 5.32 % Consumer loans — 967 967 0.07 % — 751 751 0.06 % Commercial equipment — 50,466 50,466 3.64 % — 50,202 50,202 3.73 % Gross loans 2,772 1,384,414 1,387,186 100.00 % 3,220 1,343,702 1,346,922 100.00 % Net deferred costs — 1,363 1,363 0.10 % — 1,183 1,183 0.09 % Total loans, net of deferred costs $ 2,772 $ 1,385,777 $ 1,388,549 $ 3,220 $ 1,344,885 $ 1,348,105 Less: allowance for loan losses — (10,918 ) (10,918 ) (0.79 )% — (10,976 ) (10,976 ) (0.81 )% Net loans $ 2,772 $ 1,374,859 $ 1,377,631 $ 3,220 $ 1,333,909 $ 1,337,129 ______________________________________ ** All other loans include acquired Non-PCI pools. |
Non-accrual loans | Non-accrual and Aging Analysis of Current and Past Due Loans Non-accrual loans as of June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 (dollars in thousands) Non-accrual Delinquent Loans Number of Loans Non-accrual Current Loans Number of Loans Total Non-accrual Loans Total Number of Loans Commercial real estate $ 8,938 9 $ 852 4 $ 9,790 13 Residential first mortgages 146 1 846 3 992 4 Residential rentals — — 971 5 971 5 Home equity and second mortgages 416 5 — — 416 5 Commercial loans 819 2 — — 819 2 Commercial equipment 281 5 19 1 300 6 $ 10,600 22 $ 2,688 13 $ 13,288 35 December 31, 2018 (dollars in thousands) Non-accrual Number of Loans Non-accrual Number Total Total Commercial real estate $ 8,474 11 $ 6,158 6 $ 14,632 17 Residential first mortgages 146 1 1,228 4 1,374 5 Residential rentals 260 2 703 3 963 5 Home equity and second mortgages 147 2 — — 147 2 Commercial loans 866 2 — — 866 2 Commercial equipment 1,259 5 41 2 1,300 7 $ 11,152 23 $ 8,130 15 $ 19,282 38 |
Past Due Financing Receivables | Past due and PCI loans as of June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 (dollars in thousands) 31‑60 Days 61‑89 Days 90 or Greater Days Total Past Due PCI Loans Current Total Loan Receivables Commercial real estate $ 309 $ 1,058 $ 8,938 $ 10,305 $ 1,725 $ 905,918 $ 917,948 Residential first mortgages — 328 146 474 451 155,745 156,670 Residential rentals — 321 — 321 327 121,342 121,990 Construction and land dev. — — — — — 35,662 35,662 Home equity and second mtg. 24 106 310 440 269 35,157 35,866 Commercial loans — — 819 819 — 66,798 67,617 Consumer loans 1 — — 1 — 966 967 Commercial equipment 30 10 246 286 — 50,180 50,466 Total $ 364 $ 1,823 $ 10,459 $ 12,646 $ 2,772 $ 1,371,768 $ 1,387,186 December 31, 2018 (dollars in thousands) 31‑60 Days 61‑89 Days 90 or Greater Days Total Past Due PCI Loans Current Total Loan Receivables Commercial real estate $ — $ 677 $ 8,474 $ 9,151 $ 1,785 $ 867,080 $ 878,016 Residential first mortgages — 66 146 212 466 156,031 156,709 Residential rentals 13 53 247 313 897 123,088 124,298 Construction and land dev. — — — — — 29,705 29,705 Home equity and second mtg. 266 — 147 413 72 35,076 35,561 Commercial loans — — 866 866 — 70,814 71,680 Consumer loans 1 4 — 5 — 746 751 Commercial equipment 25 29 1,230 1,284 — 48,918 50,202 Total $ 305 $ 829 $ 11,110 $ 12,244 $ 3,220 $ 1,331,458 $ 1,346,922 |
Impaired Loans, Including TDRs | Impaired Loans and Troubled Debt Restructures (“TDRs”) Impaired loans, including TDRs, at June 30, 2019 and 2018 and at December 31, 2018 were as follows: June 30, 2019 (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 YTD Commercial real estate $ 20,933 $ 18,512 $ 2,406 $ 20,918 $ 289 $ 20,975 $ 214 $ 21,075 $ 410 Residential first mortgages 2,124 2,123 — 2,123 — 2,129 20 2,139 41 Residential rentals 971 971 — 971 — 978 17 985 30 Construction and land dev. — — — — — — — — — Home equity and second mtg. 482 471 — 471 — 476 5 461 9 Commercial loans 2,638 1,807 819 2,626 700 2,629 27 2,649 54 Commercial equipment 367 131 218 349 192 357 2 369 4 Total $ 27,515 $ 24,015 $ 3,443 $ 27,458 $ 1,181 $ 27,544 $ 285 $ 27,678 $ 548 June 30, 2018 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Recorded Total Recorded Related Allowance Quarter Average Quarter YTD YTD Commercial real estate $ 26,804 $ 24,923 $ 1,569 $ 26,492 $ 182 $ 26,609 $ 214 $ 26,695 $ 469 Residential first mortgages 2,473 2,434 — 2,434 — 2,480 26 2,490 53 Residential rentals 1,430 1,396 — 1,396 — 1,440 18 1,450 35 Construction and land dev. 729 — 729 729 210 729 10 729 20 Home equity and second mtg. 303 213 86 299 7 304 3 306 7 Commercial loans 2,792 1,892 900 2,792 458 2,793 32 2,793 52 Consumer loans 2 1 1 2 1 2 — 2 — Commercial equipment 1,645 1,021 622 1,643 508 1,661 13 1,692 29 Total $ 36,178 $ 31,880 $ 3,907 $ 35,787 $ 1,366 $ 36,018 $ 316 $ 36,157 $ 665 December 31, 2018 (dollars in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance YTD Average Recorded Investment YTD Interest Income Recognized Commercial real estate $ 27,835 $ 24,515 $ 3,025 $ 27,540 $ 326 $ 27,833 $ 1,275 Residential first mortgages 2,527 2,527 — 2,527 — 2,573 126 Residential rentals 1,745 1,745 — 1,745 — 1,792 85 Construction and land dev. 729 729 — 729 — 729 45 Home equity and second mtg. 294 288 — 288 — 291 13 Commercial loans 2,762 1,888 863 2,751 700 2,804 118 Consumer loans 1 — 1 1 1 — Commercial equipment 1,315 1,121 178 1,299 153 1,354 31 Total $ 37,208 $ 32,813 $ 4,067 $ 36,880 $ 1,180 $ 37,377 $ 1,693 |
TDRs, Included in Impaired Loans Schedule | TDRs included in the impaired loan schedules above, as of June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Dollars Number of Loans Dollars Number of Loans Commercial real estate $ 2,082 4 $ 5,612 7 Residential first mortgages 65 1 66 1 Residential rentals — — 216 1 Construction and land development — — 729 2 Commercial loans — — 53 1 Commercial equipment 101 3 29 1 Total TDRs $ 2,248 8 $ 6,705 13 Less: TDRs included in non-accrual loans (52 ) (2 ) (29 ) (1 ) Total accrual TDR loans $ 2,196 6 $ 6,676 12 |
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, 2019 and 2018 , 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. Three Months Ended June 30, 2019 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Commercial real estate $ 6,742 $ (4 ) $ 13 $ 258 $ 7,009 Residential first mortgages 722 — — (13 ) 709 Residential rentals 462 — — (4 ) 458 Construction and land development 148 (329 ) — 427 246 Home equity and second mortgages 132 — 2 (3 ) 131 Commercial loans 1,406 — 5 (9 ) 1,402 Consumer loans 8 — 1 — 9 Commercial equipment 1,226 — 9 (281 ) 954 $ 10,846 $ (333 ) $ 30 $ 375 $ 10,918 Purchase Credit Impaired** $ — $ — $ — $ — $ — Six Months Ended June 30, 2019 (dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Commercial real estate $ 6,882 $ (4 ) $ 15 $ 116 $ 7,009 Residential first mortgages 755 — — (46 ) 709 Residential rentals 498 (53 ) 46 (33 ) 458 Construction and land development 310 (329 ) — 265 246 Home equity and second mortgages 133 — 4 (6 ) 131 Commercial loans 1,482 — 10 (90 ) 1,402 Consumer loans 6 (4 ) 2 5 9 Commercial equipment 910 (685 ) 65 664 954 $ 10,976 $ (1,075 ) $ 142 $ 875 $ 10,918 Purchase Credit Impaired** $ — $ — $ — $ — $ — Three Months Ended June 30, 2018 (dollars in thousands) Beginning Charge-offs Recoveries Provisions Ending Commercial real estate $ 6,664 $ — $ 4 $ (105 ) $ 6,563 Residential first mortgages 937 (76 ) — (124 ) 737 Residential rentals 459 — — 10 469 Construction and land development 482 — — 16 498 Home equity and second mortgages 118 — 5 (19 ) 104 Commercial loans 1,045 (88 ) — 246 1,203 Consumer loans 7 — — — 7 Commercial equipment 759 — 9 376 1,144 $ 10,471 $ (164 ) $ 18 $ 400 $ 10,725 Purchase Credit Impaired** $ — $ — $ — $ — $ — Six Months Ended June 30, 2018 (dollars in thousands) Beginning Charge-offs Recoveries Provisions Ending Commercial real estate $ 6,451 $ (236 ) $ 6 $ 342 $ 6,563 Residential first mortgages 1,144 (113 ) — (294 ) 737 Residential rentals 512 — — (43 ) 469 Construction and land development 462 — — 36 498 Home equity and second mortgages 162 (7 ) 14 (65 ) 104 Commercial loans 1,013 (88 ) — 278 1,203 Consumer loans 7 (1 ) — 1 7 Commercial equipment 764 (299 ) 34 645 1,144 $ 10,515 $ (744 ) $ 54 $ 900 $ 10,725 Purchase Credit Impaired** $ — $ — $ — $ — $ — ** There is no allowance for loan loss on the PCI portfolios. A more detailed rollforward schedule will be presented if an allowance is required. The following tables detail loan receivable and allowance balances disaggregated on the basis of the Company’s impairment methodology at June 30, 2019 and 2018 and December 31, 2018 . June 30, 2019 December 31, 2018 June 30, 2018 (dollars in thousands) Ending balance: individually evaluated for impairment Ending balance: evaluated for Purchase Credit Impaired Total Ending balance: individually evaluated for impairment Ending balance: evaluated for Purchase Credit Impaired Total Ending balance: evaluated for Ending balance: evaluated for Purchase Credit Impaired Total Loan Receivables: Commercial real estate $ 20,918 $ 895,305 $ 1,725 $ 917,948 $ 27,540 $ 848,691 $ 1,785 $ 878,016 $ 26,492 $ 800,450 $ 1,503 $ 828,445 Residential first mortgages 2,123 154,096 451 156,670 2,527 153,716 466 156,709 2,434 160,186 470 163,090 Residential rentals 971 120,692 327 121,990 1,745 121,656 897 124,298 1,396 124,799 1,274 127,469 Construction and land development — 35,662 — 35,662 729 28,976 — 29,705 729 27,646 272 28,647 Home equity and second mortgages 471 35,126 269 35,866 288 35,201 72 35,561 299 36,408 319 37,026 Commercial loans 2,626 64,991 — 67,617 2,751 68,929 — 71,680 2,792 54,727 — 57,519 Consumer loans — 967 — 967 1 750 — 751 2 799 — 801 Commercial equipment 349 50,117 — 50,466 1,299 48,903 — 50,202 1,643 45,775 — 47,418 $ 27,458 $ 1,356,956 $ 2,772 $ 1,387,186 $ 36,880 $ 1,306,822 $ 3,220 $ 1,346,922 $ 35,787 $ 1,250,790 $ 3,838 $ 1,290,415 Allowance for loan losses: Commercial real estate $ 289 $ 6,720 $ — $ 7,009 $ 326 $ 6,556 $ — $ 6,882 $ 182 $ 6,381 $ — $ 6,563 Residential first mortgages — 709 — 709 — 755 — 755 — 737 — 737 Residential rentals — 458 — 458 — 498 — 498 — 469 — 469 Construction and land development — 246 — 246 — 310 — 310 210 288 — 498 Home equity and second mortgages — 131 — 131 — 133 — 133 7 97 — 104 Commercial loans 700 702 — 1,402 700 782 — 1,482 458 745 — 1,203 Consumer loans — 9 — 9 1 5 — 6 1 6 — 7 Commercial equipment 192 762 — 954 153 757 — 910 508 636 — 1,144 $ 1,181 $ 9,737 $ — $ 10,918 $ 1,180 $ 9,796 $ — $ 10,976 $ 1,366 $ 9,359 $ — $ 10,725 |
Credit Quality Indicators | Credit quality indicators as of June 30, 2019 and December 31, 2018 were as follows: Credit Risk Profile by Internally Assigned Grade Commercial Real Estate Construction and Land Dev. Residential Rentals (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Unrated $ 106,552 $ 112,280 $ 2,017 $ 2,172 $ 38,698 $ 37,478 Pass 790,002 741,037 33,645 26,805 82,614 85,551 Special mention — — — — — — Substandard 21,394 24,699 — 728 678 1,269 Doubtful — — — — — — Loss — — — — — — Total $ 917,948 $ 878,016 $ 35,662 $ 29,705 $ 121,990 $ 124,298 Commercial Loans Commercial Equipment Total Commercial Portfolios (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Unrated $ 18,539 $ 19,157 $ 18,230 $ 15,373 $ 184,036 $ 186,460 Pass 46,452 49,828 32,018 33,685 984,731 936,906 Special mention — — — — — — Substandard 2,626 2,695 218 1,144 24,916 30,535 Doubtful — — — — — — Loss — — — — — — Total $ 67,617 $ 71,680 $ 50,466 $ 50,202 $ 1,193,683 $ 1,153,901 Non-Commercial Portfolios ** Total All Portfolios (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Unrated $ 150,159 $ 146,889 $ 334,195 $ 333,349 Pass 42,114 44,441 1,026,845 981,347 Special mention — — — — Substandard 1,230 1,691 26,146 32,226 Doubtful — — — — Loss — — — — Total $ 193,503 $ 193,021 $ 1,387,186 $ 1,346,922 ** Non-commercial portfolios are generally evaluated based on payment activity but may be risk graded if part of a larger commercial relationship or are credit impaired (e.g. non-accrual loans, TDRs). Credit Risk Profile Based on Payment Activity Residential First Mortgages Home Equity and Second Mtg. Consumer Loans (dollars in thousands) 6/30/2019 12/31/2018 6/30/2019 12/31/2018 6/30/2019 12/31/2018 Performing $ 156,524 $ 156,563 $ 35,556 $ 35,414 $ 967 $ 751 Nonperforming 146 146 310 147 — — Total $ 156,670 $ 156,709 $ 35,866 $ 35,561 $ 967 $ 751 |
Certain Loans Acquired In Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Table | A summary of changes in the accretable yield for PCI loans for the three and six months ended June 30, 2019 and 2018 and the year ended December 31, 2018 follows: Three Months Ended June 30, Six Months Ended June 30, Year Ended (dollars in thousands) 2019 2018 2019 2018 December 31, 2018 Accretable yield, beginning of period $ 680 $ 459 $ 734 $ — $ — Additions — — — 517 517 Accretion (68 ) (58 ) (122 ) (116 ) (230 ) Reclassification from (to) nonaccretable difference 156 — 156 — 134 Other changes, net 11 — 11 — 313 Accretable yield, end of period $ 779 $ 401 $ 779 $ 401 $ 734 |
Summary Of Acquired And Non Acquired Loans Table | The following is a summary of acquired and non-acquired loans as of June 30, 2019 and December 31, 2018 : BY ACQUIRED AND NON-ACQUIRED June 30, 2019 % December 31, 2018 % Acquired loans - performing $ 88,353 6.37 % $ 103,667 7.70 % Acquired loans - purchase credit impaired ("PCI") 2,772 0.20 % 3,220 0.24 % Total acquired loans 91,125 6.57 % 106,887 7.94 % Non-acquired loans** 1,296,061 93.43 % 1,240,035 92.06 % Gross loans 1,387,186 1,346,922 Net deferred costs (fees) 1,363 0.10 % 1,183 0.09 % Total loans, net of deferred costs $ 1,388,549 $ 1,348,105 ______________________________ ** Non-acquired loans include loans transferred from acquired pools following release of acquisition accounting FMV adjustments. |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill and other intangible assets | Goodwill and other intangible assets are presented in the tables below. (dollars in thousands) As of June 30, 2019 As of December 31, 2018 Goodwill $ 10,835 $ 10,835 As of June 30, 2019 As of December 31, 2018 (dollars in thousands) Gross Carrying Amount Accumulated Amortization Net Intangible Assets Gross Carrying Amount Accumulated Amortization Net Intangible Assets Core deposit intangible $ 3,590 $ (1,140 ) $ 2,450 $ 3,590 $ (784 ) $ 2,806 |
Schedule of estimated amortization expense | The estimated aggregate future amortization expense for intangible assets remaining as of June 30, 2019 is as follows: (dollars in thousands) Remainder of 2019 $ 332 2020 591 2021 495 2022 398 2023 302 Thereafter 332 $ 2,450 |
Other Real Estate Owned ("ORE_2
Other Real Estate Owned ("OREO") (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Real Estate [Abstract] | |
Analysis of OREO activity | An analysis of OREO activity follows. Six Months Ended June 30, Years Ended December 31, (dollars in thousands) 2019 2018 2018 Balance at beginning of year $ 8,111 $ 9,341 $ 9,341 Additions of underlying property 3,249 238 307 Disposals of underlying property (416 ) (991 ) (1,005 ) Valuation allowance (637 ) (283 ) (532 ) Balance at end of period $ 10,307 $ 8,305 $ 8,111 |
Expenses applicable to OREO assets | Expenses applicable to OREO assets included the following. Six Months Ended June 30, (dollars in thousands) 2019 2018 Valuation allowance $ 637 $ 283 Losses (gains) on dispositions (188 ) 8 Operating expenses 39 60 $ 488 $ 351 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Schedule of Deposits | Deposits consist of the following: (dollars in thousands) June 30, 2019 December 31, 2018 Balance % Balance % Noninterest-bearing demand $ 226,712 15.17 % $ 209,378 14.65 % Interest-bearing: Demand 458,686 30.69 % 437,170 30.58 % Money market deposits 277,823 18.59 % 266,160 18.62 % Savings 70,652 4.73 % 69,892 4.89 % Certificates of deposit 460,569 30.82 % 447,029 31.27 % Total interest-bearing 1,267,730 84.83 % 1,220,251 85.35 % Total Deposits $ 1,494,442 100.00 % $ 1,429,629 100.00 % |
Commitments and Contingences (T
Commitments and Contingences (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of maturities of operating lease liabilities | (dollars in thousands) As of Lease payments due: Within one year $ 718 After one but within two years 704 After two but within three years 730 After three but within four years 744 After four but within five years 753 After five years 10,066 Total undiscounted cash flows $ 13,715 Discount on cash flows 3,918 Total lease liability $ 9,797 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Regulatory Assets and Liabilities Disclosure [Abstract] | |
Regulatory | The Company’s and the Bank’s actual regulatory capital amounts and ratios are presented in the following table. Regulatory Capital and Ratios (dollars in thousands) The Company The Bank June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Common equity $ 163,644 $ 154,482 $ 195,736 $ 185,073 Goodwill (10,835 ) (10,835 ) (10,835 ) (10,835 ) Core deposit intangible (net of deferred tax liability) (1,776 ) (2,034 ) (1,776 ) (2,034 ) AOCI losses (1,044 ) 1,847 (1,044 ) 1,847 Common Equity Tier 1 Capital 149,989 143,460 182,081 174,051 TRUPs 12,000 12,000 — — Tier 1 Capital 161,989 155,460 182,081 174,051 Allowable reserve for credit losses and other Tier 2 adjustments 10,969 11,027 10,969 11,027 Subordinated notes 23,000 23,000 — — Tier 2 Capital $ 195,958 $ 189,487 $ 193,050 $ 185,078 Risk-Weighted Assets ("RWA") $ 1,444,651 $ 1,384,807 $ 1,442,319 $ 1,383,048 Average Assets ("AA") $ 1,708,802 $ 1,635,594 $ 1,706,675 $ 1,632,846 2019 Regulatory Min. Ratio + CCB (1) Common Tier 1 Capital to RWA 7.00 % 10.38 % 10.36 % 12.62 % 12.58 % Tier 1 Capital to RWA 8.50 11.21 11.23 12.62 12.58 Tier 2 Capital to RWA 10.50 13.56 13.68 13.38 13.38 Tier 1 Capital to AA (Leverage) (2) n/a 9.48 9.50 10.67 10.66 ____________________________________ (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. (2) Tier 1 Capital to AA (Leverage) has no capital conservation buffer defined. PCA well capitalized is defined as 5.00% . |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis | The tables below present the recorded amount of assets as of June 30, 2019 and December 31, 2018 measured at fair value on a recurring basis. (dollars in thousands) Description of Asset June 30, 2019 Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 106,534 $ — $ 106,534 $ — MBS 12,033 — 12,033 — U.S. Agency 11,645 — 11,645 — Total available for sale securities $ 130,212 $ — $ 130,212 $ — Equity securities carried at fair value through income CRA investment fund $ 4,603 $ — $ 4,603 $ — (dollars in thousands) Description of Asset December 31, 2018 Fair Value Level 1 Level 2 Level 3 Available for sale securities Asset-backed securities issued by GSEs and U.S. Agencies CMOs $ 100,740 $ — 100,740 $ — MBS 7,361 — 7,361 — U.S. Agency 11,875 — 11,875 — Total available for sale securities $ 119,976 $ — $ 119,976 $ — Equity securities carried at fair value through income CRA investment fund $ 4,428 $ — $ 4,428 $ — |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | (dollars in thousands) Description of Asset June 30, 2019 Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 2,117 $ — $ — $ 2,117 Commercial loans 119 — — 119 Commercial equipment 26 — — 26 Total loans with impairment $ 2,262 $ — $ — $ 2,262 Other real estate owned $ 10,307 $ — $ — $ 10,307 (dollars in thousands) Description of Asset December 31, 2018 Fair Value Level 1 Level 2 Level 3 Loans with impairment Commercial real estate $ 2,699 $ — $ — $ 2,699 Commercial loans 163 — — 163 Commercial equipment 25 — — 25 Total loans with impairment $ 2,887 $ — $ — $ 2,887 Other real estate owned $ 8,111 $ — $ — $ 8,111 |
Schedule of unobservable inputs used in Level 3 fair value measurements | The following tables provide information describing the unobservable inputs used in Level 3 fair value measurements at June 30, 2019 and December 31, 2018 . June 30, 2019 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) (dollars in thousands) Description of Asset Loans with impairment $ 2,262 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (34%) Other real estate owned $ 10,307 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (15%) December 31, 2018 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) (dollars in thousands) Description of Asset Loans with impairment $ 2,887 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (29%) Other real estate owned $ 8,111 Third party appraisals and in-house real estate evaluations of fair value Management discount for property type and current market conditions 0%-50% (14%) |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments, All Other Investments [Abstract] | |
Fair Value, by Balance Sheet Grouping | June 30, 2019 Carrying Amount Fair Value Fair Value Measurements Description of Asset (dollars in thousands) Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 130,212 $ 130,212 $ — $ 130,212 $ — Investment securities - HTM 95,657 96,372 1,499 94,873 — Equity securities carried at fair value through income 4,603 4,603 — 4,603 Non-marketable equity securities in other financial institutions 209 209 — 209 — FHLB Stock 3,236 3,236 — 3,236 — Net loans receivable 1,377,631 1,351,638 — — 1,351,638 Accrued Interest Receivable 5,431 5,431 — 5,431 — Investment in BOLI 36,734 36,734 — 36,734 — Liabilities Savings, NOW and money market accounts $ 1,033,873 1,033,873 $ — $ 1,033,873 $ — Time deposits 460,569 462,743 — 462,743 — Long-term debt 30,403 30,770 — 30,770 — Short term borrowings 10,000 10,037 — 10,037 — TRUPs 12,000 10,776 — 10,776 — Subordinated notes 23,000 23,041 — 23,041 — See the Company’s methodologies disclosed in Note 21 of the Company’s 2018 Form 10‑K for the fair value methodologies used as of December 31, 2018 : December 31, 2018 Carrying Amount Fair Value Fair Value Measurements Description of Asset (dollars in thousands) Level 1 Level 2 Level 3 Assets Investment securities - AFS $ 119,976 $ 119,976 $ — $ 119,976 $ — Investment securities - HTM 96,271 93,745 999 92,746 — Equity securities carried at fair value through income 4,428 4,428 4,428 — Non-marketable equity securities in other financial institutions 209 209 — 209 — FHLB Stock 3,821 3,821 — 3,821 — Net loans receivable 1,337,129 1,298,465 — — 1,298,465 Accrued Interest Receivable 4,957 4,957 — 4,957 — Investment in BOLI 36,295 36,295 — 36,295 — Liabilities Savings, NOW and money market accounts $ 982,600 982,600 $ — $ 982,600 $ — Time deposits 447,029 446,683 — 446,683 — Long-term debt 20,436 20,568 — 20,568 — Short term borrowings 35,000 35,016 — 35,016 — TRUPs 12,000 10,924 — 10,924 — Subordinated notes 23,000 23,085 — 23,085 — |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Comprehensive Income (Loss) | The following tables present the components of comprehensive income for the three and six months ended June 30, 2019 and 2018 . The Company’s comprehensive gains and losses and reclassification adjustments were solely for securities for the three and six months ended June 30, 2019 and 2018 . Reclassification adjustments are recorded in non-interest income. (dollars in thousands) Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains (losses) arising during period $ 2,093 $ 576 $ 1,517 $ (392 ) $ (108 ) $ (284 ) Reclassification adjustments — — — — — — Other comprehensive income (loss) $ 2,093 $ 576 $ 1,517 $ (392 ) $ (108 ) $ (284 ) (dollars in thousands) Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Net unrealized holding gains (losses) arising during period $ 3,989 $ 1,098 $ 2,891 $ (1,367 ) $ (376 ) $ (991 ) Reclassification adjustments — — — — — — Other comprehensive income (loss) $ 3,989 $ 1,098 $ 2,891 $ (1,367 ) $ (376 ) $ (991 ) |
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, 2019 and 2018 . (dollars in thousands) Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Net Unrealized Gains Net Unrealized Gains Net Unrealized Gains Net Unrealized Gains Beginning of period $ (473 ) $ (1,898 ) $ (1,847 ) $ (1,191 ) Other comprehensive gains (losses), net of tax before reclassifications 1,517 (284 ) 2,891 (991 ) Amounts reclassified from accumulated other comprehensive loss — — — — Net other comprehensive income (loss) 1,517 (284 ) 2,891 (991 ) End of period $ 1,044 $ (2,182 ) $ 1,044 $ (2,182 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Basic and diluted earnings per share have been computed based on weighted-average common and common equivalent shares outstanding as follows: (dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net Income $ 3,627 $ 2,335 $ 7,504 $ 3,556 Average number of common shares outstanding 5,559,821 5,551,123 5,558,984 5,549,428 Dilutive effect of common stock equivalents — — — — Average number of shares used to calculate diluted EPS 5,559,821 5,551,123 5,558,984 5,549,428 Earnings Per Common Share Basic $ 0.65 $ 0.42 $ 1.35 $ 0.64 Diluted 0.65 0.42 1.35 0.64 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Current and deferred income tax expense (benefit) | (dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Current income tax expense $ 1,653 $ 980 $ 3,030 $ 1,460 Deferred income tax expense (benefit) (259 ) (152 ) (320 ) (99 ) Income tax expense as reported $ 1,394 $ 828 $ 2,710 $ 1,361 Effective tax rate 27.8 % 26.2 % 26.5 % 27.7 % |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of the unvested restricted stock awards outstanding | The following tables summarize the nonvested restricted stock awards outstanding at June 30, 2019 and December 31, 2018 , respectively. Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2019 25,473 $ 28.76 Granted 3,584 30.00 Vested (13,912 ) 23.85 Cancelled — — Nonvested at June 30, 2019 15,145 $ 26.52 Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2018 32,809 $ 22.61 Granted 10,662 36.43 Vested (17,607 ) 21.85 Cancelled (391 ) 27.69 Nonvested at December 31, 2018 25,473 $ 28.76 |
Basis of Presentation and Nat_2
Basis of Presentation and Nature of Operations (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)Loan_Production_OfficesOperation_centersbranches | Jun. 30, 2018USD ($) | Jan. 01, 2019USD ($) | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Number of operation centers | Operation_centers | 2 | |||
Number of LPOs | Loan_Production_Offices | 5 | |||
Right-of-use assets | $ 9,729 | |||
Total lease liability | $ 9,797 | |||
Restatement Adjustment [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
OREO, losses reclassified to interest expense | $ 8 | $ 8,000 | ||
Restatement Adjustment [Member] | ASU 2016-02 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Right-of-use assets | $ 10,200 | |||
Total lease liability | $ 10,200 | |||
Maryland and Virginia [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Number of branches | branches | 11 | |||
Waldrof [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Number of branches | branches | 2 | |||
Leonardtown, La Plata [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Number of branches | branches | 2 | |||
Fredericksburg, Virginia [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Number of branches | branches | 1 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | Jan. 31, 2018 | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Asset-backed securities pledged to secure certain deposits | $ 44,600,000 | $ 41,300,000 | |
Asset-backed securities pledged as collateral | 0 | 3,300,000 | |
Amount | 225,869,000 | 216,247,000 | |
Amortized cost, available for sale | 128,771,000 | 122,524,000 | |
Other-than temporary impairment charges | 0 | 0 | |
Sale of securities | 0 | 0 | $ 34,900,000 |
Securities held to maturity (HTM), at amortized cost | 95,657,000 | 96,271,000 | |
Securities available for sale (AFS), at fair value | 130,212,000 | 119,976,000 | |
Fair value of securities of unrealized losses from amortized cost | 32,400,000 | 84,941,000 | |
Unrealized losses | 469,000 | 2,757,000 | |
Held-to-maturity Securities, Fair Value, Total | 96,372,000 | 93,745,000 | |
Fair value of securities of unrealized losses from amortized cost | 38,412,000 | 83,047,000 | |
Total, unrealized losses | 372,000 | 2,672,000 | |
Gross unrealized losses, available for sale | 469,000 | 2,757,000 | |
Gross unrealized losses, held to maturity | 372,000 | 2,672,000 | |
Residential Mortgage Backed Securities Issued By US Government Sponsored Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Amortized cost, available for sale | 12,000,000 | 7,641,000 | |
Securities held to maturity (HTM), at amortized cost | 28,639,000 | 25,948,000 | |
Securities available for sale (AFS), at fair value | 12,033,000 | 7,361,000 | |
Held-to-maturity Securities, Fair Value, Total | 29,208,000 | 25,267,000 | |
Gross unrealized losses, available for sale | 21,000 | 281,000 | |
Gross unrealized losses, held to maturity | 21,000 | 756,000 | |
Residential Collateralized Mortgage Obligations, Issued By US Government Sponsored Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Amortized cost, available for sale | 105,150,000 | 102,411,000 | |
Securities held to maturity (HTM), at amortized cost | 50,025,000 | 52,375,000 | |
Securities available for sale (AFS), at fair value | 106,534,000 | 100,740,000 | |
Held-to-maturity Securities, Fair Value, Total | 50,100,000 | 51,079,000 | |
Gross unrealized losses, available for sale | 377,000 | 1,870,000 | |
Gross unrealized losses, held to maturity | $ 278,000 | $ 1,360,000 | |
Asset-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Held to maturity securities with unrealized losses, average life | 4 years 4 months 27 days | 4 years 10 months 17 days | |
Securities held to maturity (HTM), at amortized cost | $ 38,000,000 | $ 82,600,000 | |
Fair value of securities of unrealized losses from amortized cost | 32,400,000 | 84,941,000 | |
Unrealized losses | 469,000 | 2,757,000 | |
Fair value of securities of unrealized losses from amortized cost | 32,989,000 | 77,707,000 | |
Total, unrealized losses | $ 350,000 | $ 2,521,000 | |
Asset-backed Securities, Issued by Private Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Held to maturity securities with unrealized losses, average life | 3 years 9 months 15 days | 3 years 4 days | |
Held to maturity securities with unrealized losses, average duration | 3 years 2 months 17 days | 2 years 3 months 29 days | |
Fair value of securities of unrealized losses from amortized cost | $ 425,000 | $ 441,000 | |
Total, unrealized losses | 14,000 | 41,000 | |
Us Government Agencies Callable Agency Bonds [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Securities held to maturity (HTM), at amortized cost | 5,005,000 | 5,009,000 | |
Held-to-maturity Securities, Fair Value, Total | 4,997,000 | 4,899,000 | |
Fair value of securities of unrealized losses from amortized cost | 4,998,000 | 4,899,000 | |
Total, unrealized losses | 8,000 | 110,000 | |
Gross unrealized losses, held to maturity | $ 8,000 | $ 110,000 | |
Asset Backed Securities Or Bonds Issued By Us Government Sponsored Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Held to maturity securities with unrealized losses, average duration | 3 years 7 months 16 days | 4 years 3 months 4 days | |
Fair value of securities of unrealized losses from amortized cost | $ 93,500,000 | $ 84,300,000 | |
Total, unrealized losses | $ 400,000 | $ 2,700,000 | |
Asset-backed securities issued by GSEs [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Available for sale securities, average life | 3 years 9 months 18 days | 4 years 4 months 13 days | |
Available for sale securities, average duration | 3 years 5 months 11 days | 3 years 10 months 10 days | |
Held to maturity securities, average life | 4 years 4 months 27 days | 4 years 10 months 17 days | |
Held to maturity securities, average duration | 3 years 11 months 4 days | 4 years 3 months | |
Available for sale securities with unrealized losses, average life | 3 years 11 months 21 days | 4 years 3 months 26 days | |
Available for sale securities with unrealized losses, average duration | 3 years 7 months 16 days | 3 years 9 months 29 days | |
Securities held to maturity (HTM), at amortized cost | $ 435,000 | $ 482,000 | |
Residential Collateralized Mortgage Obligations, Issued By Private Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Securities held to maturity (HTM), at amortized cost | 435,000 | 482,000 | |
Held-to-maturity Securities, Fair Value, Total | 425,000 | 441,000 | |
Gross unrealized losses, held to maturity | 14,000 | 41,000 | |
US Government Obligations [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Securities held to maturity (HTM), at amortized cost | 1,499,000 | 999,000 | |
Held-to-maturity Securities, Fair Value, Total | 1,499,000 | 998,000 | |
Gross unrealized losses, held to maturity | $ 0 | $ 1,000 | |
Standard Poor's, AAA Rating [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Percentage of asset backed securities in investment portfolio | 99.00% | 99.00% | |
Amount | $ 225,434,000 | $ 215,765,000 | |
Standard Poor's, BB Rating [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Amount | $ 435,000 | $ 482,000 |
Securities (Fair Value to Amort
Securities (Fair Value to Amortized Cost Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, available for sale | $ 128,771 | $ 122,524 |
Gross unrealized gains, available for sale | 1,910 | 209 |
Gross unrealized losses, available for sale | 469 | 2,757 |
Estimated fair value, available for sale | 130,212 | 119,976 |
Amortized cost, Held-to-maturity Securities | 95,657 | 96,271 |
Gross unrealized gains, held to maturity | 1,087 | 146 |
Gross unrealized losses, held to maturity | 372 | 2,672 |
Debt Securities, Held-to-maturity, Fair Value | 96,372 | 93,745 |
Equity securities carried at fair value through income, Estimated Fair Value | 4,603 | 4,428 |
Non-marketable equity securities held in other financial institutions | 209 | 209 |
Non-marketable equity securities in other financial institutions, Estimated Fair Value | 209 | 209 |
Residential Mortgage Backed Securities Issued By US Government Sponsored Enterprises [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, available for sale | 12,000 | 7,641 |
Gross unrealized gains, available for sale | 54 | 1 |
Gross unrealized losses, available for sale | 21 | 281 |
Estimated fair value, available for sale | 12,033 | 7,361 |
Amortized cost, Held-to-maturity Securities | 28,639 | 25,948 |
Gross unrealized gains, held to maturity | 590 | 75 |
Gross unrealized losses, held to maturity | 21 | 756 |
Debt Securities, Held-to-maturity, Fair Value | 29,208 | 25,267 |
Residential Collateralized Mortgage Obligations, Issued By US Government Sponsored Enterprises [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, available for sale | 105,150 | 102,411 |
Gross unrealized gains, available for sale | 1,761 | 199 |
Gross unrealized losses, available for sale | 377 | 1,870 |
Estimated fair value, available for sale | 106,534 | 100,740 |
Amortized cost, Held-to-maturity Securities | 50,025 | 52,375 |
Gross unrealized gains, held to maturity | 353 | 64 |
Gross unrealized losses, held to maturity | 278 | 1,360 |
Debt Securities, Held-to-maturity, Fair Value | 50,100 | 51,079 |
US Agency [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, available for sale | 11,621 | 12,472 |
Gross unrealized gains, available for sale | 95 | 9 |
Gross unrealized losses, available for sale | 71 | 606 |
Estimated fair value, available for sale | 11,645 | 11,875 |
Amortized cost, Held-to-maturity Securities | 9,804 | 10,508 |
Gross unrealized gains, held to maturity | 140 | 7 |
Gross unrealized losses, held to maturity | 51 | 404 |
Debt Securities, Held-to-maturity, Fair Value | 9,893 | 10,111 |
Residential Collateralized Mortgage Obligations, Issued By Private Enterprises [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, Held-to-maturity Securities | 435 | 482 |
Gross unrealized gains, held to maturity | 4 | |
Gross unrealized losses, held to maturity | 14 | 41 |
Debt Securities, Held-to-maturity, Fair Value | 425 | 441 |
Us Government Agencies Callable Agency Bonds [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, Held-to-maturity Securities | 5,005 | 5,009 |
Gross unrealized losses, held to maturity | 8 | 110 |
Debt Securities, Held-to-maturity, Fair Value | 4,997 | 4,899 |
Certificates of Deposit Fixed [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, Held-to-maturity Securities | 250 | 950 |
Debt Securities, Held-to-maturity, Fair Value | 250 | 950 |
US Government Obligations [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Amortized cost, Held-to-maturity Securities | 1,499 | 999 |
Gross unrealized losses, held to maturity | 0 | 1 |
Debt Securities, Held-to-maturity, Fair Value | 1,499 | 998 |
CRA Investment Fund [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity securities carried at fair value through income | 4,603 | 4,428 |
Equity securities carried at fair value through income, Estimated Fair Value | 4,603 | 4,428 |
Other Equity Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Non-marketable equity securities held in other financial institutions | 209 | 209 |
Non-marketable equity securities in other financial institutions, Estimated Fair Value | $ 209 | $ 209 |
Securities (Schedule of Unreali
Securities (Schedule of Unrealized Loss on Investments, AFS) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Marketable Securities [Line Items] | ||
Less than 12 months, fair value | $ 0 | $ 30,095 |
Less than 12 months, unrealized loss | 0 | 163 |
More than 12 months, fair value | 32,400 | 54,846 |
More than 12 months, unrealized loss | 469 | 2,594 |
Fair value | 32,400 | 84,941 |
Unrealized loss | 469 | 2,757 |
Asset-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Marketable Securities [Line Items] | ||
Less than 12 months, fair value | 0 | 30,095 |
Less than 12 months, unrealized loss | 0 | 163 |
More than 12 months, fair value | 32,400 | 54,846 |
More than 12 months, unrealized loss | 469 | 2,594 |
Fair value | 32,400 | 84,941 |
Unrealized loss | $ 469 | $ 2,757 |
Securities (Schedule of Unrea_2
Securities (Schedule of Unrealized Loss on Investments, HTM) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 months, fair value | $ 0 | $ 6,955 |
Less than 12 months, unrealized loss | 0 | 38 |
More than 12 months, fair value | 38,412 | 76,092 |
More than 12 months, unrealized loss | 372 | 2,634 |
Total, fair value | 38,412 | 83,047 |
Total, unrealized loss | 372 | 2,672 |
Asset-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 months, fair value | 0 | 6,955 |
Less than 12 months, unrealized loss | 0 | 38 |
More than 12 months, fair value | 32,989 | 70,752 |
More than 12 months, unrealized loss | 350 | 2,483 |
Total, fair value | 32,989 | 77,707 |
Total, unrealized loss | 350 | 2,521 |
Us Government Agencies Callable Agency Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
More than 12 months, fair value | 4,998 | 4,899 |
More than 12 months, unrealized loss | 8 | 110 |
Total, fair value | 4,998 | 4,899 |
Total, unrealized loss | 8 | 110 |
Asset-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
More than 12 months, fair value | 425 | 441 |
More than 12 months, unrealized loss | 14 | 41 |
Total, fair value | 425 | 441 |
Total, unrealized loss | $ 14 | $ 41 |
Securities (Financing Receivabl
Securities (Financing Receivable Credit Quality Indicators) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Amount | $ 225,869 | $ 216,247 |
Standard Poor's, AAA Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amount | 225,434 | 215,765 |
Standard Poor's, BB Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amount | $ 435 | $ 482 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019USD ($)Loan | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)loanLoan | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($)loanLoan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance for loan loss | $ 10,918 | $ 10,918 | $ 10,976 | ||
Loans and leases receivable, allowance percentage | (0.79%) | (0.79%) | (0.81%) | ||
Net deferred costs (fees) | $ 1,363 | $ 1,363 | $ 1,183 | ||
Deferred loan fees and premiums include net deferred fees paid by customers | 3,200 | 3,200 | 3,100 | ||
Offset by net deferred premiums paid to purchase loans | $ 4,600 | $ 4,600 | $ 4,300 | ||
Total number of loans | Loan | 35 | 35 | 38 | ||
Non- accrual delinquent loans | $ 10,600 | $ 10,600 | $ 11,152 | ||
Total non-accrual loans | (13,288) | (13,288) | (19,282) | ||
Reserve for delinquent non accrual loans | 886 | 886 | 978 | ||
Increase In non accrual loans | $ 10,100 | 14,600 | |||
Loans receivable | $ 1,387,186 | 1,290,415 | $ 1,387,186 | $ 1,290,415 | $ 1,346,922 |
Percentage status of loan in portfolio | 100.00% | 100.00% | 100.00% | ||
Charge-offs | $ 333 | 164 | $ 1,075 | 744 | |
Unpaid contractual principal balance | 27,515 | 36,178 | 27,515 | 36,178 | $ 37,208 |
Total recorded investment | 27,458 | 35,787 | 27,458 | 35,787 | 36,880 |
Loans, carrying amount | 1,377,631 | 1,377,631 | 1,337,129 | ||
Non-accrual current loans | 2,688 | 2,688 | 8,130 | ||
Past Due | 12,646 | 12,646 | $ 12,244 | ||
PCI Loans, accretion interest | $ 209 | $ 381 | |||
Number of TDR loans | Loan | 8 | 13 | |||
Number of accrual TDR loans | Loan | 6 | 6 | 12 | ||
Financing receivable post modification recorded investment | $ 2,248 | $ 2,248 | $ 6,705 | ||
Accrual TDR loans | 2,196 | 2,196 | 6,676 | ||
Reclassification from (to) nonaccretable difference | 156 | 0 | 156 | 0 | 134 |
Other changes, net | $ 11 | 0 | $ 11 | 0 | $ 313 |
Twelve Loans And Four Customer Relationships [Member] [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | Loan | 12 | 12 | |||
Percentage status of non accrual loans | 81.00% | ||||
Increase (decrease) in finance receivables | $ 10,800 | ||||
Thirteen Loans Representing Four Customer Relationships [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | Loan | 13 | ||||
Percentage status of non accrual loans | 79.00% | ||||
Increase (decrease) in finance receivables | $ 15,300 | ||||
Financing Receivable Troubled Debt Restructuring [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Increase (decrease) in finance receivables | (4,500) | ||||
TDR loan principal curtailment | 176 | ||||
One Troubled Debt Restructuring Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total non-accrual loans | $ (52) | (52) | 29 | ||
Specific reserves for TDR loans | 251 | $ 251 | |||
Number of TDR loans | loan | 4 | ||||
Financing receivable post modification recorded investment | $ 1,600 | $ 1,600 | |||
Seven Troubled Debt Restructuring Loans with Reserves [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Specific reserves for TDR loans | $ 165 | ||||
Number of TDR loans | loan | 1 | ||||
Financing receivable post modification recorded investment | $ 1,600 | ||||
Seven Trouble Debt Restructuring Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans removed from troubled debt restructuring | loan | 3 | ||||
Amount of loans removed from troubled debt restructuring | $ 3,900 | ||||
Nonaccrual Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Decrease In non accrual loans | $ 6,000 | ||||
Total number of loans | Loan | 35 | 35 | 38 | ||
Increase (decrease) in finance receivables | $ 13,300 | $ 19,300 | |||
Percentage status of loan in portfolio | 0.96% | 0.96% | 1.43% | ||
Nonaccrual Loans With No Impairment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Non- accrual delinquent loans | $ 2,700 | $ 2,700 | $ 8,100 | ||
Total non-accrual loans | (11,600) | $ (11,600) | $ (17,400) | ||
Percentage of current loans on total non accrual loans | 20.00% | 42.00% | |||
Interest due to debt | $ 245 | $ 456 | |||
Nonaccrual Loans With Impairment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Non- accrual delinquent loans | 10,600 | 10,600 | 11,200 | ||
Total non-accrual loans | (1,700) | $ (1,700) | $ (1,900) | ||
Percentage of delinquent loans on total non accrual loans | 80.00% | 58.00% | |||
Interest due to debt | $ 143 | $ 81 | |||
Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 334,195 | 334,195 | 333,349 | ||
Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,026,845 | 1,026,845 | 981,347 | ||
Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 26,146 | $ 26,146 | $ 32,226 | ||
Residential Rentals Portfolio Segment [Member] | Minimum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 3 years | ||||
Residential Rentals Portfolio Segment [Member] | Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 20 years | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | Loan | 13 | 13 | 17 | ||
Non- accrual delinquent loans | $ 8,938 | $ 8,938 | $ 8,474 | ||
Total non-accrual loans | (9,790) | (9,790) | (14,632) | ||
Loans receivable | $ 917,948 | 828,445 | $ 917,948 | 828,445 | $ 878,016 |
Percentage status of loan in portfolio | 66.18% | 66.18% | 65.18% | ||
Charge-offs | $ 4 | 0 | $ 4 | 236 | |
Unpaid contractual principal balance | 20,933 | 26,804 | 20,933 | 26,804 | $ 27,835 |
Total recorded investment | 20,918 | 26,492 | 20,918 | 26,492 | 27,540 |
Non-accrual current loans | 852 | 852 | 6,158 | ||
Past Due | 10,305 | $ 10,305 | $ 9,151 | ||
Number of TDR loans | Loan | 4 | 7 | |||
Financing receivable post modification recorded investment | 2,082 | $ 2,082 | $ 5,612 | ||
Commercial Real Estate Portfolio Segment [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 106,552 | 106,552 | 112,280 | ||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 790,002 | 790,002 | 741,037 | ||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 21,394 | $ 21,394 | $ 24,699 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Construction Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage status of loan in portfolio | 8.30% | 8.30% | 5.90% | ||
Residential First Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance for loan loss | $ 10,900 | $ 10,900 | $ 11,000 | ||
Total number of loans | Loan | 4 | 4 | 5 | ||
Non- accrual delinquent loans | $ 146 | $ 146 | $ 146 | ||
Total non-accrual loans | (992) | (992) | (1,374) | ||
Increase (decrease) in finance receivables | 15,300 | 11,000 | |||
Loans receivable | $ 156,670 | 163,090 | $ 156,670 | 163,090 | $ 156,709 |
Percentage status of loan in portfolio | 11.29% | 11.29% | 11.63% | ||
Charge-offs | 76 | 113 | |||
Unpaid contractual principal balance | $ 2,124 | 2,473 | $ 2,124 | 2,473 | $ 2,527 |
Total recorded investment | 2,123 | 2,434 | 2,123 | 2,434 | 2,527 |
Non-accrual current loans | 846 | 846 | 1,228 | ||
Past Due | 474 | $ 474 | $ 212 | ||
Number of TDR loans | Loan | 1 | 1 | |||
Financing receivable post modification recorded investment | 65 | $ 65 | $ 66 | ||
Residential First Mortgages Portfolio Segment [Member] | Adjustable Rate Residential First Mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 54,500 | $ 54,500 | $ 54,200 | ||
Percentage status of loan in portfolio | 3.90% | 3.90% | 4.00% | ||
Residential First Mortgages Portfolio Segment [Member] | Minimum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 10 years | ||||
Residential First Mortgages Portfolio Segment [Member] | Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 30 years | ||||
Residential Rentals Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | Loan | 5 | 5 | 5 | ||
Non- accrual delinquent loans | $ 0 | $ 0 | $ 260 | ||
Total non-accrual loans | (971) | (971) | (963) | ||
Loans receivable | $ 121,990 | 127,469 | $ 121,990 | 127,469 | $ 124,298 |
Percentage status of loan in portfolio | 8.79% | 8.79% | 9.23% | ||
Charge-offs | $ 53 | ||||
Unpaid contractual principal balance | $ 971 | 1,430 | 971 | 1,430 | $ 1,745 |
Total recorded investment | 971 | 1,396 | 971 | 1,396 | 1,745 |
Non-accrual current loans | 971 | 971 | 703 | ||
Past Due | 321 | $ 321 | $ 313 | ||
Number of TDR loans | Loan | 0 | 1 | |||
Financing receivable post modification recorded investment | 0 | $ 0 | $ 216 | ||
Residential Rentals Portfolio Segment [Member] | 1-4 Family Units [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 93,300 | 93,300 | 96,600 | ||
Residential Rentals Portfolio Segment [Member] | Apartment Buildings Rentals [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 28,700 | 28,700 | 27,700 | ||
Residential Rentals Portfolio Segment [Member] | Adjustable Rate Residential Rentals [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 97,800 | $ 97,800 | $ 97,400 | ||
Percentage status of loan in portfolio | 7.10% | 7.10% | 7.20% | ||
Residential Rentals Portfolio Segment [Member] | Minimum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 3 years | ||||
Residential Rentals Portfolio Segment [Member] | Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Debt maturity period | 20 years | ||||
Residential Rentals Portfolio Segment [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 38,698 | $ 38,698 | $ 37,478 | ||
Residential Rentals Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 82,614 | 82,614 | 85,551 | ||
Residential Rentals Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 678 | 678 | 1,269 | ||
Construction And Land Development Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 35,662 | 28,647 | $ 35,662 | 28,647 | $ 29,705 |
Percentage status of loan in portfolio | 2.57% | 2.57% | 2.21% | ||
Charge-offs | $ 329 | $ 329 | |||
Unpaid contractual principal balance | 729 | 729 | $ 729 | ||
Total recorded investment | 729 | 729 | $ 729 | ||
Number of TDR loans | Loan | 0 | 2 | |||
Financing receivable post modification recorded investment | 0 | $ 0 | $ 729 | ||
Construction And Land Development Portfolio Segment [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 2,017 | 2,017 | 2,172 | ||
Construction And Land Development Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 33,645 | 33,645 | 26,805 | ||
Construction And Land Development Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 728 | ||||
Home Equity And Second Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 35,866 | $ 35,866 | $ 35,561 | ||
Percentage status of loan in portfolio | 2.59% | 2.59% | 2.64% | ||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | Loan | 2 | 2 | 2 | ||
Non- accrual delinquent loans | $ 819 | $ 819 | $ 866 | ||
Total non-accrual loans | (819) | (819) | (866) | ||
Loans receivable | $ 67,617 | 57,519 | $ 67,617 | 57,519 | $ 71,680 |
Percentage status of loan in portfolio | 4.87% | 4.87% | 5.32% | ||
Charge-offs | 88 | 88 | |||
Unpaid contractual principal balance | $ 2,638 | 2,792 | $ 2,638 | 2,792 | $ 2,762 |
Total recorded investment | 2,626 | 2,792 | 2,626 | 2,792 | 2,751 |
Past Due | 819 | $ 819 | $ 866 | ||
Number of TDR loans | Loan | 0 | 1 | |||
Financing receivable post modification recorded investment | 0 | $ 0 | $ 53 | ||
Commercial Portfolio Segment [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 18,539 | 18,539 | 19,157 | ||
Commercial Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 46,452 | 46,452 | 49,828 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 2,626 | 2,626 | 2,695 | ||
Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 967 | 801 | $ 967 | 801 | $ 751 |
Percentage status of loan in portfolio | 0.07% | 0.07% | 0.06% | ||
Charge-offs | 0 | $ 4 | 1 | ||
Unpaid contractual principal balance | 2 | 2 | $ 1 | ||
Total recorded investment | 2 | 2 | |||
Past Due | $ 1 | $ 1 | $ 5 | ||
Commercial Equipment Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total number of loans | Loan | 6 | 6 | 7 | ||
Non- accrual delinquent loans | $ 281 | $ 281 | $ 1,259 | ||
Total non-accrual loans | (300) | (300) | (1,300) | ||
Loans receivable | $ 50,466 | 47,418 | $ 50,466 | 47,418 | $ 50,202 |
Percentage status of loan in portfolio | 3.64% | 3.64% | 3.73% | ||
Charge-offs | 0 | $ 685 | 299 | ||
Unpaid contractual principal balance | $ 367 | 1,645 | 367 | 1,645 | $ 1,315 |
Total recorded investment | 349 | 1,643 | 349 | 1,643 | 1,299 |
Non-accrual current loans | 19 | 19 | 41 | ||
Past Due | 286 | $ 286 | $ 1,284 | ||
Number of TDR loans | Loan | 3 | 1 | |||
Financing receivable post modification recorded investment | 101 | $ 101 | $ 29 | ||
Commercial Equipment Portfolio Segment [Member] | Unrated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 18,230 | 18,230 | 15,373 | ||
Commercial Equipment Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 32,018 | 32,018 | 33,685 | ||
Commercial Equipment Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 218 | 218 | 1,144 | ||
31 - 60 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 364 | 364 | 305 | ||
31 - 60 Days [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 309 | 309 | |||
31 - 60 Days [Member] | Residential Rentals Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | 13 | ||
31 - 60 Days [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
31 - 60 Days [Member] | Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1 | 1 | 1 | ||
31 - 60 Days [Member] | Commercial Equipment Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 30 | 30 | 25 | ||
61 - 89 Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,823 | 1,823 | 829 | ||
61 - 89 Days [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,058 | 1,058 | 677 | ||
61 - 89 Days [Member] | Residential First Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 328 | 328 | 66 | ||
61 - 89 Days [Member] | Residential Rentals Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 321 | 321 | 53 | ||
61 - 89 Days [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
61 - 89 Days [Member] | Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 4 | ||||
61 - 89 Days [Member] | Commercial Equipment Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 10 | 10 | 29 | ||
90 or Greater Days [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 10,459 | 10,459 | 11,110 | ||
90 or Greater Days [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 8,938 | 8,938 | 8,474 | ||
90 or Greater Days [Member] | Residential First Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 146 | 146 | 146 | ||
90 or Greater Days [Member] | Residential Rentals Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | 247 | ||
90 or Greater Days [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 819 | 819 | 866 | ||
90 or Greater Days [Member] | Commercial Equipment Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 246 | 246 | 1,230 | ||
Loan Delinquency [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total non-accrual loans | $ (12,600) | $ (12,600) | (12,200) | ||
Decrease in loan delinquency | $ 402 | ||||
Percentage status of loan in portfolio | 0.91% | 0.91% | 0.91% | ||
Performing Financial Instruments [Member] | Residential First Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 156,524 | $ 156,524 | $ 156,563 | ||
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 967 | 967 | 751 | ||
Nonperforming Financial Instruments [Member] | Residential First Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 146 | 146 | 146 | ||
PCI Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 2,772 | 3,838 | $ 2,772 | 3,838 | 3,220 |
Percentage status of loan in portfolio | 0.16% | 0.16% | |||
Unpaid contractual principal balance | $ 3,500 | $ 3,500 | |||
Total recorded investment | 2,800 | 2,800 | |||
Loans, carrying amount | 2,772 | 2,772 | 3,220 | ||
PCI Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,725 | 1,503 | 1,725 | 1,503 | 1,785 |
PCI Loans [Member] | Residential First Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 451 | 470 | 451 | 470 | 466 |
PCI Loans [Member] | Residential Rentals Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 327 | 1,274 | 327 | 1,274 | 897 |
PCI Loans [Member] | Construction And Land Development Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 272 | $ 272 | |||
PCI Loans [Member] | Home Equity And Second Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 269 | 269 | 72 | ||
All Other Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance for loan loss | 10,918 | 10,918 | 10,976 | ||
Net deferred costs (fees) | 1,363 | 1,363 | 1,183 | ||
Loans receivable | 1,384,414 | 1,384,414 | 1,343,702 | ||
Loans, carrying amount | 1,374,859 | 1,374,859 | 1,333,909 | ||
All Other Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 916,223 | 916,223 | 876,231 | ||
All Other Loans [Member] | Residential First Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 156,219 | 156,219 | 156,243 | ||
All Other Loans [Member] | Residential Rentals Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 121,663 | 121,663 | 123,401 | ||
All Other Loans [Member] | Construction And Land Development Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 35,662 | 35,662 | 29,705 | ||
All Other Loans [Member] | Home Equity And Second Mortgages Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 35,597 | 35,597 | 35,489 | ||
All Other Loans [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 67,617 | 67,617 | 71,680 | ||
All Other Loans [Member] | Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 967 | 967 | 751 | ||
All Other Loans [Member] | Commercial Equipment Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 50,466 | 50,466 | 50,202 | ||
County First Acquisition [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 91,125 | $ 91,125 | $ 106,887 | ||
Percentage status of loan in portfolio | 6.57% | 6.57% | 7.94% | ||
County First Acquisition [Member] | PCI Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 2,772 | $ 2,772 | $ 3,220 | ||
Percentage status of loan in portfolio | 0.20% | 0.20% | 0.24% | ||
County First Acquisition [Member] | All Other Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 88,353 | $ 88,353 | $ 103,667 | ||
Percentage status of loan in portfolio | 6.37% | 6.37% | 7.70% | ||
County First Bank Acquisition [Member] | PCI Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
New acquisition accounting for fair market value adjustment | $ 684 | $ 684 | |||
Net acquisition accounting fair Market value adjustment, mark | 19.78% | 19.78% | |||
County First Bank Acquisition [Member] | All Other Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
New acquisition accounting for fair market value adjustment | $ 1,500 | $ 1,500 | |||
Net acquisition accounting fair Market value adjustment, mark | 1.66% | 1.66% |
Loans (Schedule of Accounts, No
Loans (Schedule of Accounts, Notes, Loans and Financing Receivable) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,387,186 | $ 1,346,922 | $ 1,290,415 |
Less: | |||
Net deferred costs (fees) | 1,363 | 1,183 | |
Total loans, net of deferred costs | 1,388,549 | 1,348,105 | |
Less: allowance for loan losses | (10,918) | (10,976) | |
Net loans | $ 1,377,631 | $ 1,337,129 | |
Percentage status of loan in portfolio | 100.00% | 100.00% | |
Deferred loan fees and premiums, percentage | 0.10% | 0.09% | |
Loans and leases receivable, allowance percentage | (0.79%) | (0.81%) | |
PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 2,772 | $ 3,220 | 3,838 |
Less: | |||
Total loans, net of deferred costs | 2,772 | 3,220 | |
Net loans | $ 2,772 | 3,220 | |
Percentage status of loan in portfolio | 0.16% | ||
All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,384,414 | 1,343,702 | |
Less: | |||
Net deferred costs (fees) | 1,363 | 1,183 | |
Total loans, net of deferred costs | 1,385,777 | 1,344,885 | |
Less: allowance for loan losses | (10,918) | (10,976) | |
Net loans | 1,374,859 | 1,333,909 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 917,948 | $ 878,016 | 828,445 |
Less: | |||
Percentage status of loan in portfolio | 66.18% | 65.18% | |
Commercial Real Estate Portfolio Segment [Member] | PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,725 | $ 1,785 | 1,503 |
Commercial Real Estate Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 916,223 | 876,231 | |
Residential First Mortgages Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 156,670 | 156,709 | 163,090 |
Less: | |||
Less: allowance for loan losses | $ (10,900) | $ (11,000) | |
Percentage status of loan in portfolio | 11.29% | 11.63% | |
Residential First Mortgages Portfolio Segment [Member] | PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 451 | $ 466 | 470 |
Residential First Mortgages Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 156,219 | 156,243 | |
Residential Rentals Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 121,990 | $ 124,298 | 127,469 |
Less: | |||
Percentage status of loan in portfolio | 8.79% | 9.23% | |
Residential Rentals Portfolio Segment [Member] | PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 327 | $ 897 | 1,274 |
Residential Rentals Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 121,663 | 123,401 | |
Construction And Land Development Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 35,662 | $ 29,705 | 28,647 |
Less: | |||
Percentage status of loan in portfolio | 2.57% | 2.21% | |
Construction And Land Development Portfolio Segment [Member] | PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 272 | ||
Construction And Land Development Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 35,662 | $ 29,705 | |
Home Equity And Second Mortgages Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 35,866 | $ 35,561 | |
Less: | |||
Percentage status of loan in portfolio | 2.59% | 2.64% | |
Home Equity And Second Mortgages Portfolio Segment [Member] | PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 269 | $ 72 | |
Home Equity And Second Mortgages Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 35,597 | 35,489 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 67,617 | $ 71,680 | 57,519 |
Less: | |||
Percentage status of loan in portfolio | 4.87% | 5.32% | |
Commercial Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 67,617 | $ 71,680 | |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 967 | $ 751 | 801 |
Less: | |||
Percentage status of loan in portfolio | 0.07% | 0.06% | |
Consumer Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 967 | $ 751 | |
Commercial Equipment Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 50,466 | $ 50,202 | $ 47,418 |
Less: | |||
Percentage status of loan in portfolio | 3.64% | 3.73% | |
Commercial Equipment Portfolio Segment [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 50,466 | $ 50,202 |
Loans (Schedule of Financing Re
Loans (Schedule of Financing Receivables, Non-Accrual Status) (Details) $ in Thousands | Jun. 30, 2019USD ($)Loan | Dec. 31, 2018USD ($)Loan |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- accrual delinquent loans | $ | $ 10,600 | $ 11,152 |
Number of loans, non- accrual delinquent loans | Loan | 22 | 23 |
Non-accrual current loans | $ | $ 2,688 | $ 8,130 |
Number of loans, non-accrual current loans | Loan | 13 | 15 |
Total non-accrual loans | $ | $ 13,288 | $ 19,282 |
Total number of loans | Loan | 35 | 38 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- accrual delinquent loans | $ | $ 8,938 | $ 8,474 |
Number of loans, non- accrual delinquent loans | Loan | 9 | 11 |
Non-accrual current loans | $ | $ 852 | $ 6,158 |
Number of loans, non-accrual current loans | Loan | 4 | 6 |
Total non-accrual loans | $ | $ 9,790 | $ 14,632 |
Total number of loans | Loan | 13 | 17 |
Residential First Mortgages Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- accrual delinquent loans | $ | $ 146 | $ 146 |
Number of loans, non- accrual delinquent loans | Loan | 1 | 1 |
Non-accrual current loans | $ | $ 846 | $ 1,228 |
Number of loans, non-accrual current loans | Loan | 3 | 4 |
Total non-accrual loans | $ | $ 992 | $ 1,374 |
Total number of loans | Loan | 4 | 5 |
Residential Rentals Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- accrual delinquent loans | $ | $ 0 | $ 260 |
Number of loans, non- accrual delinquent loans | Loan | 2 | |
Non-accrual current loans | $ | $ 971 | $ 703 |
Number of loans, non-accrual current loans | Loan | 5 | 3 |
Total non-accrual loans | $ | $ 971 | $ 963 |
Total number of loans | Loan | 5 | 5 |
Home Equity And Second Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- accrual delinquent loans | $ | $ 416 | $ 147 |
Number of loans, non- accrual delinquent loans | Loan | 5 | 2 |
Total non-accrual loans | $ | $ 416 | $ 147 |
Total number of loans | Loan | 5 | 2 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- accrual delinquent loans | $ | $ 819 | $ 866 |
Number of loans, non- accrual delinquent loans | Loan | 2 | 2 |
Total non-accrual loans | $ | $ 819 | $ 866 |
Total number of loans | Loan | 2 | 2 |
Commercial Equipment Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non- accrual delinquent loans | $ | $ 281 | $ 1,259 |
Number of loans, non- accrual delinquent loans | Loan | 5 | 5 |
Non-accrual current loans | $ | $ 19 | $ 41 |
Number of loans, non-accrual current loans | Loan | 1 | 2 |
Total non-accrual loans | $ | $ 300 | $ 1,300 |
Total number of loans | Loan | 6 | 7 |
Loans (Past Due Financing Recei
Loans (Past Due Financing Receivables) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Impaired [Line Items] | |||
Past Due | $ 12,646 | $ 12,244 | |
Total Loan Receivables | 1,387,186 | 1,346,922 | $ 1,290,415 |
31 - 60 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 364 | 305 | |
61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 1,823 | 829 | |
90 or Greater Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 10,459 | 11,110 | |
Commercial Equipment Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 286 | 1,284 | |
Total Loan Receivables | 50,466 | 50,202 | 47,418 |
Commercial Equipment Portfolio Segment [Member] | 31 - 60 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 30 | 25 | |
Commercial Equipment Portfolio Segment [Member] | 61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 10 | 29 | |
Commercial Equipment Portfolio Segment [Member] | 90 or Greater Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 246 | 1,230 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 1 | 5 | |
Total Loan Receivables | 967 | 751 | 801 |
Consumer Portfolio Segment [Member] | 31 - 60 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 1 | 1 | |
Consumer Portfolio Segment [Member] | 61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 4 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 819 | 866 | |
Total Loan Receivables | 67,617 | 71,680 | 57,519 |
Commercial Portfolio Segment [Member] | 31 - 60 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 0 | ||
Commercial Portfolio Segment [Member] | 61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 0 | ||
Commercial Portfolio Segment [Member] | 90 or Greater Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 819 | 866 | |
Home Equity And Second Mortgage Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 440 | 413 | |
Total Loan Receivables | 35,866 | 35,561 | 37,026 |
Home Equity And Second Mortgage Loans [Member] | 31 - 60 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 24 | 266 | |
Home Equity And Second Mortgage Loans [Member] | 61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 106 | ||
Home Equity And Second Mortgage Loans [Member] | 90 or Greater Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 310 | 147 | |
Construction And Land Development Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Total Loan Receivables | 35,662 | 29,705 | 28,647 |
Residential Rentals Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 321 | 313 | |
Total Loan Receivables | 121,990 | 124,298 | 127,469 |
Residential Rentals Portfolio Segment [Member] | 31 - 60 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 0 | 13 | |
Residential Rentals Portfolio Segment [Member] | 61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 321 | 53 | |
Residential Rentals Portfolio Segment [Member] | 90 or Greater Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 0 | 247 | |
Residential First Mortgages Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 474 | 212 | |
Total Loan Receivables | 156,670 | 156,709 | 163,090 |
Residential First Mortgages Portfolio Segment [Member] | 61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 328 | 66 | |
Residential First Mortgages Portfolio Segment [Member] | 90 or Greater Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 146 | 146 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 10,305 | 9,151 | |
Total Loan Receivables | 917,948 | 878,016 | 828,445 |
Commercial Real Estate Portfolio Segment [Member] | 31 - 60 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 309 | ||
Commercial Real Estate Portfolio Segment [Member] | 61 - 89 Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 1,058 | 677 | |
Commercial Real Estate Portfolio Segment [Member] | 90 or Greater Days [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Past Due | 8,938 | 8,474 | |
PCI Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 2,772 | 3,220 | |
Total Loan Receivables | 2,772 | 3,220 | 3,838 |
PCI Loans [Member] | Home Equity And Second Mortgage Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 269 | 72 | |
Total Loan Receivables | 269 | 72 | 319 |
PCI Loans [Member] | Construction And Land Development Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Total Loan Receivables | 272 | ||
PCI Loans [Member] | Residential Rentals Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 327 | 897 | |
Total Loan Receivables | 327 | 897 | 1,274 |
PCI Loans [Member] | Residential First Mortgages Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 451 | 466 | |
Total Loan Receivables | 451 | 466 | 470 |
PCI Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 1,725 | 1,785 | |
Total Loan Receivables | 1,725 | 1,785 | $ 1,503 |
All Other Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 1,371,768 | 1,331,458 | |
Total Loan Receivables | 1,384,414 | 1,343,702 | |
All Other Loans [Member] | Commercial Equipment Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 50,180 | 48,918 | |
Total Loan Receivables | 50,466 | 50,202 | |
All Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 966 | 746 | |
Total Loan Receivables | 967 | 751 | |
All Other Loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 66,798 | 70,814 | |
Total Loan Receivables | 67,617 | 71,680 | |
All Other Loans [Member] | Home Equity And Second Mortgage Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 35,157 | 35,076 | |
All Other Loans [Member] | Construction And Land Development Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 35,662 | 29,705 | |
Total Loan Receivables | 35,662 | 29,705 | |
All Other Loans [Member] | Residential Rentals Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 121,342 | 123,088 | |
Total Loan Receivables | 121,663 | 123,401 | |
All Other Loans [Member] | Residential First Mortgages Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 155,745 | 156,031 | |
Total Loan Receivables | 156,219 | 156,243 | |
All Other Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Current | 905,918 | 867,080 | |
Total Loan Receivables | $ 916,223 | $ 876,231 |
Loans (Impaired Financing Recei
Loans (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | $ 27,515 | $ 36,178 | $ 27,515 | $ 36,178 | $ 37,208 |
Recorded investment with no allowance | 24,015 | 31,880 | 24,015 | 31,880 | 32,813 |
Recorded investment with allowance | 3,443 | 3,907 | 3,443 | 3,907 | 4,067 |
Total recorded investment | 27,458 | 35,787 | 27,458 | 35,787 | 36,880 |
Related allowance | 1,181 | 1,366 | 1,181 | 1,366 | 1,180 |
Average recorded investment | 27,544 | 36,018 | 27,678 | 36,157 | 37,377 |
Interest income recognized | 285 | 316 | 548 | 665 | 1,693 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 20,933 | 26,804 | 20,933 | 26,804 | 27,835 |
Recorded investment with no allowance | 18,512 | 24,923 | 18,512 | 24,923 | 24,515 |
Recorded investment with allowance | 2,406 | 1,569 | 2,406 | 1,569 | 3,025 |
Total recorded investment | 20,918 | 26,492 | 20,918 | 26,492 | 27,540 |
Related allowance | 289 | 182 | 289 | 182 | 326 |
Average recorded investment | 20,975 | 26,609 | 21,075 | 26,695 | 27,833 |
Interest income recognized | 214 | 214 | 410 | 469 | 1,275 |
Residential First Mortgages Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 2,124 | 2,473 | 2,124 | 2,473 | 2,527 |
Recorded investment with no allowance | 2,123 | 2,434 | 2,123 | 2,434 | 2,527 |
Recorded investment with allowance | 0 | 0 | 0 | ||
Total recorded investment | 2,123 | 2,434 | 2,123 | 2,434 | 2,527 |
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 2,129 | 2,480 | 2,139 | 2,490 | 2,573 |
Interest income recognized | 20 | 26 | 41 | 53 | 126 |
Residential Rentals Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 971 | 1,430 | 971 | 1,430 | 1,745 |
Recorded investment with no allowance | 971 | 1,396 | 971 | 1,396 | 1,745 |
Total recorded investment | 971 | 1,396 | 971 | 1,396 | 1,745 |
Average recorded investment | 978 | 1,440 | 985 | 1,450 | 1,792 |
Interest income recognized | 17 | 18 | 30 | 35 | 85 |
Construction And Land Development Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 729 | 729 | 729 | ||
Recorded investment with no allowance | 729 | ||||
Recorded investment with allowance | 729 | 729 | 0 | ||
Total recorded investment | 729 | 729 | 729 | ||
Related allowance | 210 | 210 | 0 | ||
Average recorded investment | 729 | 729 | 729 | ||
Interest income recognized | 10 | 20 | 45 | ||
Home Equity And Second Mortgage Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 482 | 303 | 482 | 303 | 294 |
Recorded investment with no allowance | 471 | 213 | 471 | 213 | 288 |
Recorded investment with allowance | 86 | 86 | 0 | ||
Total recorded investment | 471 | 299 | 471 | 299 | 288 |
Related allowance | 7 | 7 | 0 | ||
Average recorded investment | 476 | 304 | 461 | 306 | 291 |
Interest income recognized | 5 | 3 | 9 | 7 | 13 |
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 2,638 | 2,792 | 2,638 | 2,792 | 2,762 |
Recorded investment with no allowance | 1,807 | 1,892 | 1,807 | 1,892 | 1,888 |
Recorded investment with allowance | 819 | 900 | 819 | 900 | 863 |
Total recorded investment | 2,626 | 2,792 | 2,626 | 2,792 | 2,751 |
Related allowance | 700 | 458 | 700 | 458 | 700 |
Average recorded investment | 2,629 | 2,793 | 2,649 | 2,793 | 2,804 |
Interest income recognized | 27 | 32 | 54 | 52 | 118 |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 2 | 2 | 1 | ||
Recorded investment with no allowance | 1 | 1 | 0 | ||
Recorded investment with allowance | 1 | 1 | 1 | ||
Total recorded investment | 2 | 2 | |||
Related allowance | 1 | 1 | 1 | ||
Average recorded investment | 2 | 2 | 1 | ||
Commercial Equipment Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid contractual principal balance | 367 | 1,645 | 367 | 1,645 | 1,315 |
Recorded investment with no allowance | 131 | 1,021 | 131 | 1,021 | 1,121 |
Recorded investment with allowance | 218 | 622 | 218 | 622 | 178 |
Total recorded investment | 349 | 1,643 | 349 | 1,643 | 1,299 |
Related allowance | 192 | 508 | 192 | 508 | 153 |
Average recorded investment | 357 | 1,661 | 369 | 1,692 | 1,354 |
Interest income recognized | $ 2 | $ 13 | $ 4 | $ 29 | $ 31 |
Loans (Troubled Debt Restructur
Loans (Troubled Debt Restructurings on Financing Receivables) (Details) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($)Loan | Dec. 31, 2018USD ($)Loan | |
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ | $ 2,248 | $ 6,705 |
Less: TDRs included in non-accrual loans | $ | (52) | (29) |
Accrual TDR loans | $ | $ 2,196 | $ 6,676 |
Number of TDR loans | Loan | 8 | 13 |
Number of non-accrual TDR loans | Loan | (2) | (1) |
Number of accrual TDR loans | Loan | 6 | 12 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ | $ 2,082 | $ 5,612 |
Number of TDR loans | Loan | 4 | 7 |
Residential First Mortgages Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ | $ 65 | $ 66 |
Number of TDR loans | Loan | 1 | 1 |
Residential Rentals Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ | $ 0 | $ 216 |
Number of TDR loans | Loan | 0 | 1 |
Construction And Land Development Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ | $ 0 | $ 729 |
Number of TDR loans | Loan | 0 | 2 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ | $ 0 | $ 53 |
Number of TDR loans | Loan | 0 | 1 |
Commercial Equipment Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ | $ 101 | $ 29 |
Number of TDR loans | Loan | 3 | 1 |
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, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Allowance for loan losses: | ||||
Beginning Balance | $ 10,846 | $ 10,471 | $ 10,976 | $ 10,515 |
Charge-offs | (333) | (164) | (1,075) | (744) |
Recoveries | 30 | 18 | 142 | 54 |
Provisions | 375 | 400 | 875 | 900 |
Ending Balance | 10,918 | 10,725 | 10,918 | 10,725 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 6,742 | 6,664 | 6,882 | 6,451 |
Charge-offs | (4) | 0 | (4) | (236) |
Recoveries | 13 | 4 | 15 | 6 |
Provisions | 258 | (105) | 116 | 342 |
Ending Balance | 7,009 | 6,563 | 7,009 | 6,563 |
Residential First Mortgages Portfolio Segment [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 722 | 937 | 755 | 1,144 |
Charge-offs | (76) | (113) | ||
Provisions | (13) | (124) | (46) | (294) |
Ending Balance | 709 | 737 | 709 | 737 |
Residential Rentals Portfolio Segment [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 462 | 459 | 498 | 512 |
Charge-offs | (53) | |||
Recoveries | 46 | |||
Provisions | (4) | 10 | (33) | (43) |
Ending Balance | 458 | 469 | 458 | 469 |
Construction And Land Development Portfolio Segment [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 148 | 482 | 310 | 462 |
Charge-offs | (329) | (329) | ||
Provisions | 427 | 16 | 265 | 36 |
Ending Balance | 246 | 498 | 246 | 498 |
Home Equity And Second Mortgage Loans [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 132 | 118 | 133 | 162 |
Charge-offs | 0 | (7) | ||
Recoveries | 2 | 5 | 4 | 14 |
Provisions | (3) | (19) | (6) | (65) |
Ending Balance | 131 | 104 | 131 | 104 |
Commercial Portfolio Segment [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 1,406 | 1,045 | 1,482 | 1,013 |
Charge-offs | (88) | (88) | ||
Recoveries | 5 | 10 | ||
Provisions | (9) | 246 | (90) | 278 |
Ending Balance | 1,402 | 1,203 | 1,402 | 1,203 |
Consumer Portfolio Segment [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 8 | 7 | 6 | 7 |
Charge-offs | 0 | (4) | (1) | |
Recoveries | 1 | 2 | ||
Provisions | 0 | 5 | 1 | |
Ending Balance | 9 | 7 | 9 | 7 |
Commercial Equipment Portfolio Segment [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 1,226 | 759 | 910 | 764 |
Charge-offs | 0 | (685) | (299) | |
Recoveries | 9 | 9 | 65 | 34 |
Provisions | (281) | 376 | 664 | 645 |
Ending Balance | $ 954 | $ 1,144 | $ 954 | $ 1,144 |
Loans (Loan Receivable and Allo
Loans (Loan Receivable and Allowance Balances Disaggregated) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | $ 27,458 | $ 36,880 | $ 35,787 | |||
Ending balance: collectively evaluated for impairment | 1,356,956 | 1,306,822 | 1,250,790 | |||
Total Loan Receivables | 1,387,186 | 1,346,922 | 1,290,415 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 1,181 | 1,180 | 1,366 | |||
Ending balance: collectively evaluated for impairment | 9,737 | 9,796 | 9,359 | |||
Total Allowance for loan losses | 10,918 | $ 10,846 | 10,976 | 10,725 | $ 10,471 | $ 10,515 |
PCI Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 2,772 | 3,220 | 3,838 | |||
All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 1,384,414 | 1,343,702 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 20,918 | 27,540 | 26,492 | |||
Ending balance: collectively evaluated for impairment | 895,305 | 848,691 | 800,450 | |||
Total Loan Receivables | 917,948 | 878,016 | 828,445 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 289 | 326 | 182 | |||
Ending balance: collectively evaluated for impairment | 6,720 | 6,556 | 6,381 | |||
Total Allowance for loan losses | 7,009 | 6,742 | 6,882 | 6,563 | 6,664 | 6,451 |
Commercial Real Estate Portfolio Segment [Member] | PCI Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 1,725 | 1,785 | 1,503 | |||
Commercial Real Estate Portfolio Segment [Member] | All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 916,223 | 876,231 | ||||
Residential First Mortgages Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 2,123 | 2,527 | 2,434 | |||
Ending balance: collectively evaluated for impairment | 154,096 | 153,716 | 160,186 | |||
Total Loan Receivables | 156,670 | 156,709 | 163,090 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 0 | |||||
Ending balance: collectively evaluated for impairment | 709 | 755 | 737 | |||
Total Allowance for loan losses | 709 | 722 | 755 | 737 | 937 | 1,144 |
Residential First Mortgages Portfolio Segment [Member] | PCI Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 451 | 466 | 470 | |||
Residential First Mortgages Portfolio Segment [Member] | All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 156,219 | 156,243 | ||||
Residential Rentals Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 971 | 1,745 | 1,396 | |||
Ending balance: collectively evaluated for impairment | 120,692 | 121,656 | 124,799 | |||
Total Loan Receivables | 121,990 | 124,298 | 127,469 | |||
Allowance for loan losses: | ||||||
Ending balance: collectively evaluated for impairment | 458 | 498 | 469 | |||
Total Allowance for loan losses | 458 | 462 | 498 | 469 | 459 | 512 |
Residential Rentals Portfolio Segment [Member] | PCI Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 327 | 897 | 1,274 | |||
Residential Rentals Portfolio Segment [Member] | All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 121,663 | 123,401 | ||||
Construction And Land Development Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 0 | 729 | 729 | |||
Ending balance: collectively evaluated for impairment | 35,662 | 28,976 | 27,646 | |||
Total Loan Receivables | 35,662 | 29,705 | 28,647 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 210 | |||||
Ending balance: collectively evaluated for impairment | 246 | 310 | 288 | |||
Total Allowance for loan losses | 246 | 148 | 310 | 498 | 482 | 462 |
Construction And Land Development Portfolio Segment [Member] | PCI Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 272 | |||||
Construction And Land Development Portfolio Segment [Member] | All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 35,662 | 29,705 | ||||
Home Equity And Second Mortgage Loans [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 471 | 288 | 299 | |||
Ending balance: collectively evaluated for impairment | 35,126 | 35,201 | 36,408 | |||
Total Loan Receivables | 35,866 | 35,561 | 37,026 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 7 | |||||
Ending balance: collectively evaluated for impairment | 131 | 133 | 97 | |||
Total Allowance for loan losses | 131 | 132 | 133 | 104 | 118 | 162 |
Home Equity And Second Mortgage Loans [Member] | PCI Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 269 | 72 | 319 | |||
Commercial Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 2,626 | 2,751 | 2,792 | |||
Ending balance: collectively evaluated for impairment | 64,991 | 68,929 | 54,727 | |||
Total Loan Receivables | 67,617 | 71,680 | 57,519 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 700 | 700 | 458 | |||
Ending balance: collectively evaluated for impairment | 702 | 782 | 745 | |||
Total Allowance for loan losses | 1,402 | 1,406 | 1,482 | 1,203 | 1,045 | 1,013 |
Commercial Portfolio Segment [Member] | All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 67,617 | 71,680 | ||||
Consumer Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 1 | 2 | ||||
Ending balance: collectively evaluated for impairment | 967 | 750 | 799 | |||
Total Loan Receivables | 967 | 751 | 801 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 1 | 1 | ||||
Ending balance: collectively evaluated for impairment | 9 | 5 | 6 | |||
Total Allowance for loan losses | 9 | 8 | 6 | 7 | 7 | 7 |
Consumer Portfolio Segment [Member] | All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | 967 | 751 | ||||
Commercial Equipment Portfolio Segment [Member] | ||||||
Loan receivables: | ||||||
Ending balance: individually evaluated for impairment | 349 | 1,299 | 1,643 | |||
Ending balance: collectively evaluated for impairment | 50,117 | 48,903 | 45,775 | |||
Total Loan Receivables | 50,466 | 50,202 | 47,418 | |||
Allowance for loan losses: | ||||||
Ending balance: individually evaluated for impairment | 192 | 153 | 508 | |||
Ending balance: collectively evaluated for impairment | 762 | 757 | 636 | |||
Total Allowance for loan losses | 954 | $ 1,226 | 910 | $ 1,144 | $ 759 | $ 764 |
Commercial Equipment Portfolio Segment [Member] | All Other Loans [Member] | ||||||
Loan receivables: | ||||||
Total Loan Receivables | $ 50,466 | $ 50,202 |
Loans (Schedule of Financing _2
Loans (Schedule of Financing Receivable Recorded Investment Credit Quality Indicator) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | $ 1,387,186 | $ 1,346,922 | $ 1,290,415 |
Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 334,195 | 333,349 | |
Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 1,026,845 | 981,347 | |
Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 26,146 | 32,226 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 917,948 | 878,016 | 828,445 |
Commercial Real Estate Portfolio Segment [Member] | Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 106,552 | 112,280 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 790,002 | 741,037 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 21,394 | 24,699 | |
Construction And Land Development Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 35,662 | 29,705 | 28,647 |
Construction And Land Development Portfolio Segment [Member] | Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 2,017 | 2,172 | |
Construction And Land Development Portfolio Segment [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 33,645 | 26,805 | |
Construction And Land Development Portfolio Segment [Member] | Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 728 | ||
Residential Rentals Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 121,990 | 124,298 | 127,469 |
Residential Rentals Portfolio Segment [Member] | Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 38,698 | 37,478 | |
Residential Rentals Portfolio Segment [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 82,614 | 85,551 | |
Residential Rentals Portfolio Segment [Member] | Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 678 | 1,269 | |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 67,617 | 71,680 | 57,519 |
Commercial Portfolio Segment [Member] | Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 18,539 | 19,157 | |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 46,452 | 49,828 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 2,626 | 2,695 | |
Commercial Equipment Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 50,466 | 50,202 | 47,418 |
Commercial Equipment Portfolio Segment [Member] | Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 18,230 | 15,373 | |
Commercial Equipment Portfolio Segment [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 32,018 | 33,685 | |
Commercial Equipment Portfolio Segment [Member] | Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 218 | 1,144 | |
Total Commercial Portfolios [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 1,193,683 | 1,153,901 | |
Total Commercial Portfolios [Member] | Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 184,036 | 186,460 | |
Total Commercial Portfolios [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 984,731 | 936,906 | |
Total Commercial Portfolios [Member] | Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 24,916 | 30,535 | |
Non Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 193,503 | 193,021 | |
Non Commercial Portfolio Segment [Member] | Unrated [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 150,159 | 146,889 | |
Non Commercial Portfolio Segment [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 42,114 | 44,441 | |
Non Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 1,230 | 1,691 | |
Residential First Mortgages Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 156,670 | 156,709 | 163,090 |
Residential First Mortgages Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 156,524 | 156,563 | |
Residential First Mortgages Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 146 | 146 | |
Home Equity And Second Mortgage Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 35,866 | 35,561 | 37,026 |
Home Equity And Second Mortgage Loans [Member] | Performing Financial Instruments [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 35,556 | 35,414 | |
Home Equity And Second Mortgage Loans [Member] | Nonperforming Financial Instruments [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 310 | 147 | |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | 967 | 751 | $ 801 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans | $ 967 | $ 751 |
Loans (Changes in the accretabl
Loans (Changes in the accretable yield for PCI loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Accretable yield, beginning of period | $ 680 | $ 459 | $ 734 | $ 0 | $ 0 |
Additions | 0 | 0 | 0 | 517 | 517 |
Accretion | (68) | (58) | (122) | (116) | (230) |
Reclassification from (to) nonaccretable difference | 156 | 0 | 156 | 0 | 134 |
Other changes, net | 11 | 0 | 11 | 0 | 313 |
Accretable yield, end of period | $ 779 | $ 401 | $ 779 | $ 401 | $ 734 |
Loans (Acquired and Non-Acquire
Loans (Acquired and Non-Acquired Loans) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans receivable | $ 1,387,186 | $ 1,346,922 | $ 1,290,415 |
Deferred loan fees and premiums | 1,363 | 1,183 | |
Total loans, net of deferred costs | $ 1,388,549 | $ 1,348,105 | |
Percentage Status Of Loan | 100.00% | 100.00% | |
Deferred loan fees and premiums, percentage | 0.10% | 0.09% | |
PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans receivable | $ 2,772 | $ 3,220 | $ 3,838 |
Total loans, net of deferred costs | $ 2,772 | 3,220 | |
Percentage Status Of Loan | 0.16% | ||
All Other Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans receivable | $ 1,384,414 | 1,343,702 | |
Total loans, net of deferred costs | 1,385,777 | 1,344,885 | |
County First Acquisition [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans receivable | $ 91,125 | $ 106,887 | |
Percentage Status Of Loan | 6.57% | 7.94% | |
County First Acquisition [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans receivable | $ 2,772 | $ 3,220 | |
Percentage Status Of Loan | 0.20% | 0.24% | |
County First Acquisition [Member] | All Other Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans receivable | $ 88,353 | $ 103,667 | |
Percentage Status Of Loan | 6.37% | 7.70% | |
Non Acquired [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans receivable | $ 1,296,061 | $ 1,240,035 | |
Percentage Status Of Loan | 93.43% | 92.06% |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 10,835 | $ 10,835 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Acquired intangible assets subject to amortization (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Total | $ 2,450 | |
Core deposit [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 3,590 | $ 3,590 |
Accumulated Amortization | (1,140) | (784) |
Total | $ 2,450 | $ 2,806 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Estimated amortization expense (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Estimated amortization expense | |
Remainder of 2019 | $ 332 |
2020 | 591 |
2021 | 495 |
2022 | 398 |
2023 | 302 |
Thereafter | 332 |
Total | $ 2,450 |
Other Real Estate Owned ("ORE_3
Other Real Estate Owned ("OREO") (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Debt and Equity Securities, FV-NI [Line Items] | ||||
Additions of underlying property | $ 3,200,000 | $ 3,249,000 | $ 238,000 | $ 307,000 |
Fair value of foreclosed real estate, additions | 3,800,000 | |||
Disposals of underlying property | (416,000) | (991,000) | (1,005,000) | |
Losses (gains) on dispositions | (188,000) | 8,000 | ||
Valuation allowance | 637,000 | 283,000 | 532,000 | |
Carrying value of impaired loans with formal foreclosure proceedings in process | $ 200,000 | 200,000 | 0 | |
Commercial Real Estate [Member] | ||||
Debt and Equity Securities, FV-NI [Line Items] | ||||
Additions of underlying property | 143,000 | 142,000 | ||
Proceeds from sale of OREO | 807,000 | |||
Gains (losses) on sale of OREO | 4,000 | |||
Losses (gains) on dispositions | 316,000 | 327,000 | ||
Commercial Equipment [Member] | ||||
Debt and Equity Securities, FV-NI [Line Items] | ||||
Losses (gains) on dispositions | 35,000 | |||
Development Project [Member] | ||||
Debt and Equity Securities, FV-NI [Line Items] | ||||
Additions of underlying property | 95,000 | 165,000 | ||
One Residential Property And Three Residential Lots [Member] | ||||
Debt and Equity Securities, FV-NI [Line Items] | ||||
Bank provided financing | 280,000 | |||
Residential Lots [Member] | ||||
Debt and Equity Securities, FV-NI [Line Items] | ||||
Proceeds from sale of OREO | 190,000 | |||
Gains (losses) on sale of OREO | $ (12,000) | |||
Losses (gains) on dispositions | $ 65,000 | 188,000 | ||
Commercial Building [Member] | ||||
Debt and Equity Securities, FV-NI [Line Items] | ||||
Losses (gains) on dispositions | $ 476,000 |
Other Real Estate Owned ("ORE_4
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, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Repossessed Assets Rollforward [Roll Forward] | ||||
Balance at beginning of year | $ 8,111 | $ 9,341 | $ 9,341 | |
Additions of underlying property | $ 3,200 | 3,249 | 238 | 307 |
Disposals of underlying property | (416) | (991) | (1,005) | |
Valuation allowance | (637) | (283) | (532) | |
Balance at end of period | $ 10,307 | $ 10,307 | $ 8,305 | $ 8,111 |
Other Real Estate Owned ("ORE_5
Other Real Estate Owned ("OREO") (Foreclosed Real Estate Expenses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Real Estate [Abstract] | |||||
Valuation allowance | $ 637 | $ 283 | $ 532 | ||
Losses (gains) on dispositions | (188) | 8 | |||
Operating expenses | 39 | 60 | |||
Expenses applicable to OREO assets | $ 432 | $ 237 | $ 488 | $ 351 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($)Customer | Dec. 31, 2018USD ($)Customer | |
Time Deposits [Line Items] | ||
Deposits | $ 1,494,442 | $ 1,429,629 |
Time deposits $250,000 or more | 126,900 | 117,200 |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||
Time Deposits [Line Items] | ||
Deposits | $ 202,300 | $ 158,800 |
Concentration risk, percentage | 2.00% | 2.00% |
Concentration risk, customer with deposits exceeding threshold | Customer | 2 | 1 |
Concentration risk percentage of total deposits | 13.54% | 11.10% |
Deposits (Schedule Of Deposits)
Deposits (Schedule Of Deposits) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Banking and Thrift [Abstract] | ||
Noninterest-bearing demand | $ 226,712 | $ 209,378 |
Noninterest bearing deposit liabilities, percent | 15.17% | 14.65% |
Interest-bearing | ||
Demand | $ 458,686 | $ 437,170 |
Money market deposits | 277,823 | 266,160 |
Savings | 70,652 | 69,892 |
Certificates of deposit | 460,569 | 447,029 |
Total interest-bearing | 1,267,730 | 1,220,251 |
Total deposits | $ 1,494,442 | $ 1,429,629 |
Demand deposit accounts, percentage | 30.69% | 30.58% |
Deposits money market deposits, percentage | 18.59% | 18.62% |
Deposits savings deposits, percentage | 4.73% | 4.89% |
Time deposits, percentage | 30.82% | 31.27% |
Interest bearing deposit liabilities, percentage, total | 84.83% | 85.35% |
Deposits, percentage, total | 100.00% | 100.00% |
Commitments and Contingences (N
Commitments and Contingences (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Operating Leases | ||
Total lease liability | $ 9,797 | |
Right-of-use assets | 9,729 | |
Operating lease, payments | $ 368 | |
Weighted average remaining lease term | 18 years 6 months 18 days | |
Weighted average discount rate | 3.51% | |
Lease cost | $ 436 | |
Rent expense | $ 468 | |
Rent expense for closed leased properties | $ 66 | |
Minimum [Member] | ||
Operating Leases | ||
Remaining lease term | 6 months | |
Maximum [Member] | ||
Operating Leases | ||
Remaining lease term | 26 years |
Commitments and Contingences (M
Commitments and Contingences (Maturity analysis of operating lease liabilities) (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Within one year | $ 718 |
After one but within two years | 704 |
After two but within three years | 730 |
After three but within four years | 744 |
After four but within five years | 753 |
After five years | 10,066 |
Total undiscounted cash flows | 13,715 |
Discount on cash flows | 3,918 |
Total lease liability | $ 9,797 |
Guaranteed Preferred Benefici_2
Guaranteed Preferred Beneficial Interest in Junior Subordinated Debentures ("TRUPs") (Narrative) (Details) - USD ($) | Jun. 15, 2005 | Jul. 22, 2004 | Jun. 30, 2019 |
Capital Trust I I [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 5,000,000 | ||
Debt instrument, description of variable rate basis | 90-day LIBOR rate plus 1.70% | ||
Basis spread on variable rate | 1.70% | ||
Additional amount contributed to purchase debt | 155,000 | ||
Junior subordinated notes purchased | $ 5,200,000 | ||
Maturity date | Jun. 15, 2035 | ||
Capital Trust I [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 7,000,000 | ||
Debt instrument, description of variable rate basis | 90-day LIBOR rate plus 2.60% | ||
Basis spread on variable rate | 2.60% | ||
Additional amount contributed to purchase debt | 217,000 | ||
Junior subordinated notes purchased | $ 7,200,000 | ||
Maturity date | Jul. 22, 2034 |
Subordinated Notes (Details)
Subordinated Notes (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Feb. 13, 2015 | Feb. 06, 2015 | |
Debt Instrument [Line Items] | ||||
Subordinated notes interest rate | 6.25% | 6.25% | ||
Subordinated notes | $ 23,000,000 | $ 23,000,000 | ||
Subordinated note terms and conditions | 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. | |||
Preferred stock, redemption date | Feb. 13, 2015 | |||
Preferred stock, value | $ 20,000,000 | |||
Subordinated Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, face amount | $ 23,000,000 | |||
Interest rate | 6.25% | |||
Subordinated notes interest rate | 6.25% | 6.25% | ||
Maturity date | Feb. 15, 2025 | |||
Redemption percentage | 100.00% | |||
Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 4.79% |
Regulatory Capital (Narrative)
Regulatory Capital (Narrative) (Details) | Jun. 30, 2019 | Jan. 01, 2019 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital to risk-weighted assets minimum ratio | 4.50% | |
Total Capital to risk-weighted assets | 8.00% | |
Tier 1 leverage ratio | 4.00% | |
Capital conversion buffer percentage | 2.50% | |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Minimum ratio of Tier 1 capital to risk-weighted assets | 4.00% | |
Maximum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Minimum ratio of Tier 1 capital to risk-weighted assets | 6.00% | |
Conservation Buffer Rule Starting January 2016 [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conversion buffer percentage | 0.625% | |
Conservation Buffer Rule Subsequent to 2016 [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conversion buffer percentage | 0.625% |
Regulatory Capital (Details)
Regulatory Capital (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Regulatory Assets | ||||||
Goodwill | $ (10,835) | $ (10,835) | ||||
Core deposit intangible (net of deferred tax liability) | (1,776) | (2,034) | ||||
AOCI Losses | (1,044) | $ 473 | 1,847 | $ 2,182 | $ 1,898 | $ 1,191 |
Common equity Tier 1 capital | 149,989 | 143,460 | ||||
TRUPs | 12,000 | 12,000 | ||||
Tier 1 capital | 161,989 | 155,460 | ||||
Allowable reserve for credit losses and other Tier 2 adjustments | 10,969 | 11,027 | ||||
Subordinated notes | 23,000 | 23,000 | ||||
Tier 2 capital | 195,958 | 189,487 | ||||
Risk-weighted assets ("RWA") | 1,444,651 | 1,384,807 | ||||
Average Assets ("AA") | $ 1,708,802 | $ 1,635,594 | ||||
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 | 10.38% | 10.36% | ||||
Tier 1 capital to RWA | 11.21% | 11.23% | ||||
Tier 2 capital to RWA | 13.56% | 13.68% | ||||
Tier 1 capital to AA (leverage) | 9.48% | 9.50% | ||||
PCA well capitalized, percent | 5.00% | |||||
Common Stock [Member] | ||||||
Regulatory Assets | ||||||
Common Equity | $ 163,644 | $ 154,482 | ||||
Bank [Member] | ||||||
Regulatory Assets | ||||||
Goodwill | (10,835) | (10,835) | ||||
Core deposit intangible (net of deferred tax liability) | (1,776) | (2,034) | ||||
AOCI Losses | (1,044) | 1,847 | ||||
Common equity Tier 1 capital | 182,081 | 174,051 | ||||
Tier 1 capital | 182,081 | 174,051 | ||||
Allowable reserve for credit losses and other Tier 2 adjustments | 10,969 | 11,027 | ||||
Tier 2 capital | 193,050 | 185,078 | ||||
Risk-weighted assets ("RWA") | 1,442,319 | 1,383,048 | ||||
Average Assets ("AA") | $ 1,706,675 | $ 1,632,846 | ||||
Common Tier 1 capital to RWA | 12.62% | 12.58% | ||||
Tier 1 capital to RWA | 12.62% | 12.58% | ||||
Tier 2 capital to RWA | 13.38% | 13.38% | ||||
Tier 1 capital to AA (leverage) | 10.67% | 10.66% | ||||
Bank [Member] | Common Stock [Member] | ||||||
Regulatory Assets | ||||||
Common Equity | $ 195,736 | $ 185,073 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | ||
Fair value assets, level 1 to 2 | $ 0 | |
Fair value assets, transfer out of level 3 | 0 | |
Fair value liabilities, transfer into level 3 | 0 | |
Loans with impairment, unpaid principal | $ 3.4 | $ 4.1 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 130,212 | $ 119,976 |
Equity securities carried at fair value through income | 4,603 | 4,428 |
US Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 11,645 | 11,875 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 130,212 | 119,976 |
Equity securities carried at fair value through income | 4,428 | |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 106,534 | 100,740 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 12,033 | 7,361 |
Fair Value, Measurements, Recurring [Member] | US Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 11,645 | 11,875 |
Fair Value, Measurements, Recurring [Member] | CRA Investment Fund [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities carried at fair value through income | 4,603 | |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 130,212 | 119,976 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 130,212 | 119,976 |
Equity securities carried at fair value through income | 4,428 | |
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] | ||
Available-for-sale Securities | 106,534 | 100,740 |
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] | ||
Available-for-sale Securities | 12,033 | 7,361 |
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] | ||
Available-for-sale Securities | 11,645 | $ 11,875 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | CRA Investment Fund [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities carried at fair value through income | $ 4,603 |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value, Assets and Liabilities Measured on Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | $ 25 | |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | 25 | |
Loans With Impairment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | $ 2,262 | 2,887 |
Loans With Impairment [Member] | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | 2,117 | 2,699 |
Loans With Impairment [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | 119 | |
Loans With Impairment [Member] | Commercial Equipment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | 26 | |
Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | 2,262 | 2,887 |
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] | ||
Impaired loans, fair value | 2,117 | 2,699 |
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] | ||
Impaired loans, fair value | 119 | |
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] | ||
Impaired loans, fair value | 26 | |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
OREO, fair value | 8,111 | |
Other Real Estate Owned [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
OREO, fair value | 10,307 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
OREO, fair value | 8,111 | |
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] | ||
OREO, fair value | $ 10,307 | |
Commercial Loans [Member] | Loans With Impairment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | 163 | |
Commercial Loans [Member] | Loans With Impairment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, fair value | $ 163 |
Fair Value Measurements (Unobse
Fair Value Measurements (Unobservable Inputs Used in Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Maximum [Member] | Loans With Impairment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs discount rate one | (50.00%) | (50.00%) |
Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs discount rate one | (50.00%) | (50.00%) |
Minimum [Member] | Loans With Impairment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs discount rate one | (0.00%) | (0.00%) |
Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs discount rate one | (0.00%) | (0.00%) |
Weighted Average [Member] | Loans With Impairment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs discount rate one | (34.00%) | (29.00%) |
Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs discount rate one | (15.00%) | (14.00%) |
Fair Value, Inputs, Level 3 [Member] | Loans With Impairment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | $ 2,262 | $ 2,887 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value disclosure | $ 10,307 | $ 8,111 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Investments, All Other Investments [Abstract] | ||
Loans commitments outstanding | $ 34.7 | $ 47.3 |
Letters of credit outstanding, amount | 22.5 | 21.2 |
Line of credit facility, remaining borrowing capacity | $ 228.8 | $ 211.5 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments (Fair Value, by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Investment securities - AFS | $ 130,212 | $ 119,976 |
Investment securities - HTM | 96,372 | 93,745 |
Equity securities carried at fair value through income | 4,603 | 4,428 |
Non-marketable equity securities in other financial institutions | 209 | 209 |
FHLB stock | 3,236 | 3,821 |
Loans receivable | 1,351,638 | 1,298,465 |
Accrued Interest Receivable | 5,431 | 4,957 |
Investments in BOLI | 36,734 | 36,295 |
Liabilities | ||
Savings, NOW and money market accounts | 1,033,873 | 982,600 |
Time deposits | 462,743 | 446,683 |
Long-term debt | 30,770 | 20,568 |
Short term borrowings | 10,037 | 35,016 |
TRUPs | 10,776 | 10,924 |
Subordinated notes | 23,041 | 23,085 |
Carrying Amount [Member] | ||
Assets | ||
Investment securities - AFS | 130,212 | 119,976 |
Investment securities - HTM | 95,657 | 96,271 |
Equity securities carried at fair value through income | 4,603 | 4,428 |
Non-marketable equity securities in other financial institutions | 209 | 209 |
FHLB stock | 3,236 | 3,821 |
Loans receivable | 1,377,631 | 1,337,129 |
Accrued Interest Receivable | 5,431 | 4,957 |
Investments in BOLI | 36,734 | 36,295 |
Liabilities | ||
Savings, NOW and money market accounts | 1,033,873 | 982,600 |
Time deposits | 460,569 | 447,029 |
Long-term debt | 30,403 | 20,436 |
Short term borrowings | 10,000 | 35,000 |
TRUPs | 12,000 | 12,000 |
Subordinated notes | 23,000 | 23,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Investment securities - HTM | 1,499 | 999 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Investment securities - AFS | 130,212 | 119,976 |
Investment securities - HTM | 94,873 | 92,746 |
Equity securities carried at fair value through income | 4,603 | 4,428 |
Non-marketable equity securities in other financial institutions | 209 | 209 |
FHLB stock | 3,236 | 3,821 |
Accrued Interest Receivable | 5,431 | 4,957 |
Investments in BOLI | 36,734 | 36,295 |
Liabilities | ||
Savings, NOW and money market accounts | 1,033,873 | 982,600 |
Time deposits | 462,743 | 446,683 |
Long-term debt | 30,770 | 20,568 |
Short term borrowings | 10,037 | 35,016 |
TRUPs | 10,776 | 10,924 |
Subordinated notes | 23,041 | 23,085 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Loans receivable | $ 1,351,638 | $ 1,298,465 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Schedule of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Net unrealized holding gains (losses) arising during period, before tax | $ 2,093 | $ (392) | $ 3,989 | $ (1,367) |
Other comprehensive (loss) income, before tax | 2,093 | (392) | 3,989 | (1,367) |
Net unrealized holding gains (losses) arising during period, tax effect | 576 | (108) | 1,098 | (376) |
Other comprehensive (loss) income, tax effect | 576 | (108) | 1,098 | (376) |
Net unrealized holding gains (losses) arising during period, net of tax | 1,517 | (284) | 2,891 | (991) |
Other comprehensive (loss) income, net of tax | $ 1,517 | $ (284) | $ 2,891 | $ (991) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Net unrealized gains and losses, beginning of period | $ (473) | $ (1,898) | $ (1,847) | $ (1,191) |
Other comprehensive gain (losses), net of tax before reclassifications | 1,517 | (284) | 2,891 | (991) |
Net other comprehensive gain (loss) | 1,517 | (284) | 2,891 | (991) |
Net unrealized gains and losses, end of period | $ 1,044 | $ (2,182) | $ 1,044 | $ (2,182) |
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, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share [Abstract] | ||||
Net Income | $ 3,627 | $ 2,335 | $ 7,504 | $ 3,556 |
Average number of common shares outstanding | 5,559,821 | 5,551,123 | 5,558,984 | 5,549,428 |
Average number of shares used to calculate diluted EPS | 5,559,821 | 5,551,123 | 5,558,984 | 5,549,428 |
Basic (in dollars per share) | $ 0.65 | $ 0.42 | $ 1.35 | $ 0.64 |
Diluted (in dollars per share) | $ 0.65 | $ 0.42 | $ 1.35 | $ 0.64 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Net deferred tax assets | $ 5,900,000 | $ 6,700,000 |
Valuation allowance for deferred tax assets | $ 0 |
Income Taxes (Schedule of Curre
Income Taxes (Schedule of Current and Deferred Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Current | ||||
Current income tax expense | $ 1,653 | $ 980 | $ 3,030 | $ 1,460 |
Deferred | ||||
Deferred income tax expense (benefit) | (259) | (152) | (320) | (99) |
Income tax expense as reported | $ 1,394 | $ 828 | $ 2,710 | $ 1,361 |
Effective tax rate | 27.80% | 26.20% | 26.50% | 27.70% |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based compensation expense | $ 91 | $ 133 | $ 167 | $ 238 | |
Unrecognized stock compensation expense | $ 366 | $ 366 | $ 430 | ||
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, Restricted Stock and Restricted Stock Units Activity) (Details) - Restricted Stock [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019$ / sharesshares | Dec. 31, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Beginning period, nonvested number of shares (in shares) | shares | 25,473 | 32,809 |
Number of shares, granted (in shares) | shares | 3,584 | 10,662 |
Number of shares, vested (in shares) | shares | (13,912) | (17,607) |
Number of shares, cancelled (in shares) | shares | 0 | (391) |
Ending period, nonvested number of shares (in shares) | shares | 15,145 | 25,473 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||
Beginning period, weighted average grant date fair value, nonvested number of shares (in dollars per share) | $ / shares | $ 28.76 | $ 22.61 |
Weighted average grant date fair value, granted (in dollars per share) | $ / shares | 30 | 36.43 |
Weighted average grant date fair value, vested (in dollars per share) | $ / shares | $ 23.85 | $ 21.85 |
Weighted average grant date fair value, cancelled (in dollars per share) | $ / shares | 0 | 27.69 |
Ending period, weighted average grant date fair value, nonvested number of shares (in dollars per share) | $ / shares | $ 26.52 | $ 28.76 |