Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 26, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | FIRST COMMUNITY BANKSHARES INC /VA/ | ||
Entity Central Index Key | 0000859070 | ||
Trading Symbol | fcbc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 17,694,191 | ||
Entity Public Float | $ 379,410 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock ($1.00 par value) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 66,818 | $ 40,421 |
Federal funds sold | 148,000 | 35,457 |
Interest-bearing deposits in banks | 2,191 | 995 |
Total cash and cash equivalents | 217,009 | 76,873 |
Debt securities available for sale | 169,574 | 153,116 |
Debt securities held to maturity | 25,013 | |
Loans held for sale | 263 | |
Loans held for investment, net of unearned income (includes covered loans of $12,861 and $18,815, respectively) | 2,114,460 | 1,775,084 |
Allowance for loan losses | (18,425) | (18,267) |
Loans held for investment, net | 2,096,035 | 1,756,817 |
FDIC indemnification asset | 2,883 | 5,108 |
Premises and equipment, net | 62,824 | 45,785 |
Other real estate owned (includes covered OREO of $0 and $32, respectively) | 3,969 | 3,838 |
Interest receivable | 6,677 | 5,481 |
Goodwill | 129,565 | 92,744 |
Other intangible assets | 8,519 | 5,026 |
Other assets | 101,529 | 74,573 |
Total assets | 2,798,847 | 2,244,374 |
Liabilities | ||
Noninterest-bearing deposits | 627,868 | 459,550 |
Interest-bearing deposits | 1,702,044 | 1,396,200 |
Total deposits | 2,329,912 | 1,855,750 |
Securities sold under agreements to repurchase | 1,601 | 29,370 |
Interest, taxes, and other liabilities | 38,515 | 26,397 |
Total liabilities | 2,370,028 | 1,911,517 |
Stockholders' equity | ||
Preferred stock, undesignated par value; 1,000,000 shares authorized; Series A Noncumulative Convertible Preferred Stock, $0.01 par value; 25,000 shares authorized; none outstanding | ||
Common stock, $1 par value; 50,000,000 shares authorized; 24,238,907 issued and 18,376,991 outstanding at December 31, 2019; 21,381,779 shares issued and 16,007,263 shares outstanding at December 31, 2018. | 18,377 | 16,007 |
Additional paid-in capital | 192,413 | 122,486 |
Retained earnings | 219,535 | 195,793 |
Accumulated other comprehensive loss | (1,506) | (1,429) |
Total stockholders' equity | 428,819 | 332,857 |
Total liabilities and stockholders' equity | $ 2,798,847 | $ 2,244,374 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans held for investment, covered | $ 12,861 | $ 18,815 |
Other real estate owned, covered | $ 0 | $ 32 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 24,238,907 | 21,381,779 |
Common stock, outstanding (in shares) | 18,376,991 | 16,007,263 |
Undesignated Par Value [Member] | ||
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Designated Par Value [Member] | ||
Preferred stock, authorized (in shares) | 25,000 | 25,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income: | |||
Interest and fees on loans | $ 88,805,000 | $ 91,671,000 | $ 89,749,000 |
Interest on securities -- taxable | 1,219,000 | 2,258,000 | 1,522,000 |
Interest on securities -- tax-exempt | 2,497,000 | 2,828,000 | 3,029,000 |
Interest on deposits in banks | 2,447,000 | 1,537,000 | 1,008,000 |
Total interest income | 94,968,000 | 98,294,000 | 95,308,000 |
Interest expense: | |||
Interest on deposits | 5,392,000 | 5,144,000 | 4,987,000 |
Interest on short-term borrowings | 123,000 | 811,000 | 850,000 |
Interest on long-term debt | 1,494,000 | 2,253,000 | |
Total interest expense | 5,515,000 | 7,449,000 | 8,090,000 |
Net interest income | 89,453,000 | 90,845,000 | 87,218,000 |
Provision for loan losses | 3,571,000 | 2,393,000 | 2,771,000 |
Net interest income after provision for loan losses | 85,882,000 | 88,452,000 | 84,447,000 |
Noninterest income: | |||
Insurance commissions | 966,000 | 1,347,000 | |
Net loss on sale of securities | (43,000) | (618,000) | (661,000) |
Net FDIC indemnification asset amortization | (2,377,000) | (2,181,000) | (3,517,000) |
Litigation settlements | 6,995,000 | ||
Other operating income | 2,804,000 | 2,548,000 | 3,502,000 |
Total noninterest income | 33,677,000 | 26,443,000 | 24,568,000 |
Noninterest expense: | |||
Salaries and employee benefits | 37,148,000 | 36,690,000 | 35,774,000 |
Occupancy expense | 4,334,000 | 4,542,000 | 4,775,000 |
Furniture and equipment expense | 4,457,000 | 3,980,000 | 4,425,000 |
Service fees | 4,448,000 | 3,860,000 | 3,348,000 |
Advertising and public relations | 2,310,000 | 2,011,000 | 2,206,000 |
Professional fees | 1,698,000 | 1,430,000 | 2,567,000 |
Amortization of intangibles | 997,000 | 1,039,000 | 1,056,000 |
FDIC premiums and assessments | 318,000 | 906,000 | 910,000 |
Loss on extinguishment of debt | 1,096,000 | ||
Goodwill impairment | 1,492,000 | ||
Merger expense | 2,124,000 | ||
Other operating expense | 11,929,000 | 12,727,000 | 11,841,000 |
Total noninterest expense | 69,763,000 | 69,773,000 | 66,902,000 |
Income before income taxes | 49,796,000 | 45,122,000 | 42,113,000 |
Income tax expense | 10,994,000 | 8,782,000 | 20,628,000 |
Net income | $ 38,802,000 | $ 36,340,000 | $ 21,485,000 |
Earnings per common share | |||
Basic (in dollars per share) | $ 2.47 | $ 2.19 | $ 1.26 |
Diluted (in dollars per share) | $ 2.46 | $ 2.18 | $ 1.26 |
Weighted average shares outstanding | |||
Basic (in shares) | 15,690,812 | 16,587,504 | 17,002,116 |
Diluted (in shares) | 15,756,093 | 16,666,385 | 17,077,842 |
Common Dividend [Member] | |||
Earnings per common share | |||
Cash dividends per common share (in dollars per share) | $ 0.96 | $ 0.78 | $ 0.68 |
Special Cash Dividend [Member] | |||
Earnings per common share | |||
Cash dividends per common share (in dollars per share) | $ 0.48 | ||
Fiduciary and Trust [Member] | |||
Noninterest income: | |||
Noninterest income | $ 3,423,000 | $ 3,262,000 | $ 3,150,000 |
Deposit Account [Member] | |||
Noninterest income: | |||
Noninterest income | 14,594,000 | 14,733,000 | 13,803,000 |
Financial Service, Other [Member] | |||
Noninterest income: | |||
Noninterest income | $ 8,281,000 | $ 7,733,000 | $ 6,944,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 38,802 | $ 36,340 | $ 21,485 |
Other comprehensive income, before tax | |||
Change in net unrealized gains (losses) on securities without other-than-temporary impairment | 1,414 | (2,213) | 1,445 |
Reclassification adjustment for net loss (gain) recognized in net income | 43 | 618 | 661 |
Net unrealized gains (losses) on available-for-sale debt securities | 1,457 | (1,595) | 2,106 |
Employee benefit plans: | |||
Net actuarial (loss) gain | (1,570) | 565 | 48 |
Plan change | (262) | (258) | |
Reclassification adjustment for amortization of prior service cost and net actuarial loss recognized in net income | 278 | 285 | 259 |
Net unrealized (losses) gains on employee benefit plans | (1,554) | 850 | 49 |
Other comprehensive (loss) income, before tax | (97) | (745) | 2,155 |
Income tax expense (benefit) | (20) | (156) | 740 |
Other comprehensive income (loss), net | (77) | (589) | 1,415 |
Total comprehensive income | $ 38,725 | $ 35,751 | $ 22,900 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2016 | $ 21,382 | $ 228,142 | $ 170,377 | $ (78,833) | $ (2,011) | $ 339,057 | |
Net income | 21,485 | 21,485 | |||||
Reclassification of certain tax effects | 244 | (244) | |||||
Other comprehensive income (loss) | 1,415 | 1,415 | |||||
Common dividends declared | (11,563) | (11,563) | |||||
Equity-based compensation expense | 382 | 408 | 790 | ||||
Common stock options exercised | 86 | 292 | 378 | ||||
Issuance of treasury stock to 401(k) plan | 140 | 275 | 415 | ||||
Purchase of treasury shares | (1,263) | (1,263) | |||||
Balance at Dec. 31, 2017 | 21,382 | 228,750 | 180,543 | (79,121) | (840) | 350,714 | |
Net income | 36,340 | 36,340 | |||||
Other comprehensive income (loss) | (589) | (589) | |||||
Common dividends declared | (12,966) | (12,966) | |||||
Equity-based compensation expense | 535 | 623 | 1,158 | ||||
Common stock options exercised | (84) | 468 | 384 | ||||
Issuance of treasury stock to 401(k) plan | 138 | 214 | 352 | ||||
Purchase of treasury shares | (34,412) | (34,412) | |||||
Special common dividend declared | (8,124) | (8,124) | |||||
Reclassification of treasury stock | (5,375) | (106,853) | 112,228 | ||||
Balance at Dec. 31, 2018 | 16,007 | 122,486 | 195,793 | (1,429) | 332,857 | ||
Net income | 38,802 | 38,802 | |||||
Other comprehensive income (loss) | (77) | (77) | |||||
Common dividends declared | (15,060) | (15,060) | |||||
Equity-based compensation expense | 44 | 1,437 | 1,481 | ||||
Common stock options exercised | 8 | 128 | 136 | ||||
Issuance of treasury stock to 401(k) plan | 12 | 399 | 411 | ||||
Purchase of treasury shares | (487) | (15,875) | (16,362) | ||||
Highlands Bankshares, Inc. acquisition | 2,793 | 83,838 | 86,631 | ||||
Balance at Dec. 31, 2019 | $ 18,377 | $ 192,413 | $ 219,535 | $ (1,506) | $ 428,819 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Retained Earnings [Member] | |||
Common dividends declared, per share (in dollars per share) | $ 0.96 | $ 0.78 | $ 0.68 |
Special common dividends declared, per share (in dollars per share) | $ 0.48 | ||
Treasury Stock [Member] | |||
Common stock options exercised, shares (in shares) | 8,459 | 24,186 | 16,185 |
Issuance of treasury stock to 401(k) plan, shares (in shares) | 12,407 | 11,331 | 15,254 |
Purchase of treasury shares, shares (in shares) | 1,060,312 | 50,118 | |
Purchase of treasury shares, per share (in dollars per share) | $ 32.45 | $ 25.16 | |
Purchase of treasury shares, shares (in shares) | 1,060,312 | 50,118 | |
Purchase of treasury shares, per share (in dollars per share) | $ 32.45 | $ 25.16 | |
Purchase of treasury shares, shares (in shares) | 487,400 | ||
Purchase of treasury shares, per share (in dollars per share) | $ 33.57 | ||
Common stock options exercised, shares (in shares) | 8,459 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating activities | |||
Net income | $ 38,802,000 | $ 36,340,000 | $ 21,485,000 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Provision for loan losses | 3,571,000 | 2,393,000 | 2,771,000 |
Depreciation and amortization of premises and equipment | 3,448,000 | 2,912,000 | 3,560,000 |
Amortization of premiums on investments, net | 195,000 | 40,000 | 172,000 |
Amortization of FDIC indemnification asset, net | 2,377,000 | 2,181,000 | 3,517,000 |
Amortization of intangible assets | 997,000 | 1,039,000 | 1,056,000 |
Goodwill impairment | 1,492,000 | ||
Accretion on acquired loans | (3,231,000) | (6,391,000) | (5,417,000) |
Equity-based compensation expense | 1,481,000 | 1,158,000 | 790,000 |
Issuance of common stock to 401(k) plan | 411,000 | 352,000 | 415,000 |
Gain on sale of premises and equipment, net | (75,000) | (25,000) | (1,000) |
Provision expense and loss on sale of other real estate owned | 1,253,000 | 1,313,000 | 791,000 |
Loss on sale of securities | 43,000 | 618,000 | 661,000 |
Writedowns of property, plant & equipment | 380,000 | 1,007,000 | 677,000 |
Loss on extinguishment of debt | 1,096,000 | ||
Decrease in other operating activities | 7,003,000 | 3,974,000 | 5,893,000 |
Net cash provided by operating activities | 56,655,000 | 49,499,000 | 36,370,000 |
Investing activities | |||
Proceeds from sale of securities available for sale | 13,898,000 | 8,937,000 | 13,664,000 |
Proceeds from maturities, prepayments, and calls of securities available for sale | 32,863,000 | 68,765,000 | 37,155,000 |
Proceeds from maturities and calls of securities held to maturity | 25,000,000 | 21,840,000 | |
Payments to acquire securities available for sale | (8,255,000) | (67,355,000) | (49,406,000) |
Proceeds from repayments loans, net | 85,233,000 | 39,512,000 | 37,455,000 |
Proceeds from bank owned life insurance | 458,000 | 2,639,000 | |
Payments for (redemption of) FHLB stock, net | 129,000 | (2,122,000) | 694,000 |
Cash proceeds from mergers, acquisitions, and divestitures, net | 25,863,000 | 10,000 | |
(Payments to) proceeds from the FDIC | (152,000) | (151,000) | 1,689,000 |
Proceeds from sale of premises and equipment | 1,955,000 | 955,000 | 57,000 |
Payments to acquire premises and equipment | (8,411,000) | (2,551,000) | (2,354,000) |
Proceeds from sale of other real estate owned | 3,254,000 | 2,940,000 | 4,363,000 |
Net cash provided by investing activities | 171,377,000 | 49,398,000 | 67,796,000 |
Financing activities | |||
Increase in noninterest-bearing deposits, net | 12,604,000 | 5,407,000 | 26,438,000 |
(Decrease) increase in interest-bearing deposits, net | (41,445,000) | (79,548,000) | 62,115,000 |
Repayments of securities sold under agreements to repurchase, net | (27,769,000) | (716,000) | (67,919,000) |
Repayments of FHLB and other borrowings, net | (50,000,000) | (30,708,000) | |
Proceeds from stock options exercised | 136,000 | 384,000 | 378,000 |
Payments for repurchase of common stock | (16,362,000) | (34,412,000) | (1,263,000) |
Payments of common stock dividends | (15,060,000) | (21,090,000) | (11,563,000) |
Net cash used in financing activities | (87,896,000) | (179,975,000) | (22,522,000) |
Net increase (decrease) in cash and cash equivalents | 140,136,000 | (81,078,000) | 81,644,000 |
Cash and cash equivalents at beginning of period | 76,873,000 | 157,951,000 | 76,307,000 |
Cash and cash equivalents at end of period | 217,009,000 | 76,873,000 | 157,951,000 |
Supplemental disclosure -- cash flow information | |||
Cash paid for interest | 5,661,000 | 7,935,000 | 8,267,000 |
Cash paid for income taxes | 8,057,000 | 7,610,000 | 15,852,000 |
Supplemental transactions -- non-cash items | |||
Transfer of loans to other real estate | 3,160,000 | 5,686,000 | 2,283,000 |
Loans originated to finance other real estate | 484,000 | 164,000 | |
Increase (decrease) in accumulated other comprehensive loss | 77,000 | 589,000 | (1,171,000) |
Non-cash sales price related to divestitures | 1,603,000 | ||
Fair value of assets acquired | 556,005,000 | ||
Fair value of liabilities assumed | 506,179,000 | ||
Net assets acquired | 49,826,000 | ||
Common stock issued in acquisition | $ 86,631,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 1. Basis of Presentation and Significant Accounting Policies Basis of Presentation First Community Bankshares, Inc. (the “Company”), a financial holding company, was founded in 1989 2018. 1874. Principles of Consolidation The Company’s accounting and reporting policies conform with U.S. generally accepted accounting principles (“GAAP”) and prevailing practices in the banking industry. The consolidated financial statements include all accounts of the Company and its wholly owned subsidiaries and eliminate all intercompany balances and transactions. The Company operates in one The Company maintains investments in variable interest entities (“VIEs”). VIEs are legal entities in which equity investors do not not not not Reclassification Certain amounts reported in prior years have been reclassified to conform to the current year’s presentation. These reclassifications had no Use of Estimates Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that require the most subjective or complex judgments relate to fair value measurements, the allowance for loan losses, goodwill and other intangible assets, and income taxes. For additional information, see “Critical Accounting Policies” in Part II, Item 7 Summary of Significant Accounting Policies Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants. Market participants are buyers and sellers in the principal market that are independent, knowledgeable, able to transact, and willing to transact. The fair value hierarchy ranks the inputs used in measuring fair value as follows: ● Level 1 ● Level 2 1 ● Level 3 no The Company uses fair value measurements to record adjustments to certain financial assets and liabilities on a recurring basis. The Company may may not Cash and Cash Equivalent s Cash and cash equivalents include cash and due from banks, federal funds sold, and interest-bearing balances on deposit with the Federal Home Loan Bank (“FHLB”), the Federal Reserve Bank (“FRB”), and correspondent banks that are available for immediate withdrawal. Investment Securities Management classifies debt securities as held-to-maturity or available-for-sale based on the intent and ability to hold the securities to maturity. Debt securities that the Company has the intent and ability to hold to maturity are classified as held-to-maturity securities and carried at amortized cost. Debt securities not may The Company reviews its investment portfolio quarterly for indications of other-than-temporary impairment (“OTTI”) using inputs from independent third not not not Other Investments As a condition of membership in the FHLB and the FRB, the Company is required to hold a minimum level of stock in the FHLB of Atlanta and the FRB of Richmond. These securities are carried at cost and periodically reviewed for impairment. The total investment in FHLB and FRB stock, which is included in other assets, was $8.90 December 31, 2019, $7.78 December 31, 2018. The Company owns certain long-term equity investments without readily determinable fair values, including certain tax credit limited partnerships and various limited liability companies that manage real estate investments, facilitate tax credits, and provide title insurance and other related financial services. These investments are accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. The total carrying value in these investments, which is included other assets, totaled $3.68 December 31, 2019, $2.20 December 31, 2018. Business Combinations The Company accounts for business combinations using the acquisition method of accounting as outlined in using Topic 805 one Loans Held for Investment Loans classified as held for investment are originated with the intent to hold indefinitely, until maturity, or until pay-off. Loans held for investment are carried at the principal amount outstanding, net of unearned income and any necessary write-downs to reduce individual loans to net realizable value. Interest income on performing loans is recognized as interest income at the contractual rate of interest. Loan origination fees, including loan commitment and underwriting fees, are reduced by direct costs associated with loan processing, including salaries, legal review, and appraisal fees. Net deferred loan fees are deferred and amortized over the life of the related loan or commitment period. Purchased Performing Loans . No P urchased C redit I mpaired (“PCI”) Loans not 310 30 may Impaired Loans and Nonperforming Assets $500 not 90 Loans are considered past due when either principal or interest payments become contractually delinquent by 30 90 may not not may six Seriously delinquent loans are evaluated for loss mitigation options. Closed-end retail loans are generally charged off against the allowance for loan losses when the loans become 120 180 90 120 Loans are considered troubled debt restructurings (“TDRs”) when the Company grants concessions, for legal or economic reasons, to borrowers experiencing financial difficulty that would not $250 $250 six Other real estate owned (“OREO”) acquired through foreclosure, or other settlement, is carried at the lower of cost or fair value less estimated selling costs. The fair value is generally based on current third Allowance for Loan Losses Management performs quarterly assessments of the allowance for loan losses. The allowance is increased by provisions charged to operations and reduced by net charge-offs. The provision is calculated and charged to earnings to bring the allowance to a level that, through a systematic process of measurement, reflects the amount management estimates is needed to absorb probable losses in the portfolio. The Company’s allowance for loan losses is segmented into commercial, consumer real estate, and consumer and other loans with each segment divided into classes with similar characteristics, such as the type of loan and collateral. The allowance for loan losses includes specific allocations related to significant individual loans and credit relationships and general reserves related to loans not not PCI loans are grouped into pools and evaluated separately from the non-PCI portfolio. The Company estimates cash flows to be collected on PCI loans and discounts those cash flows at a market rate of interest. If cash flows for PCI loans are expected to decline, generally a provision for loan losses is charged to earnings, resulting in an increase to the allowance for loan losses. If cash flows for PCI loans are expected to improve, any previously established allowance is first 80%, FDIC Indemnification Asset The FDIC indemnification asset represents the carrying amount of the right to receive payments from the FDIC for losses incurred on certain loans and OREO purchased from the FDIC that are covered by loss share agreements. The FDIC indemnification asset is measured separately from related covered assets because it is not not Premises and Equipment Premises, equipment, and capital leases are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets. Useful lives range from 5 10 3 5 7 40 20 first 10 Intangible Assets Intangible assets consist of goodwill, core deposit intangible assets, and other identifiable intangible assets that result from business combinations. Goodwill represents the excess of the purchase price over the fair value of net assets acquired that is allocated to the appropriate reporting unit when acquired. Core deposit intangible assets represent the future earnings potential of acquired deposit relationships that are amortized over their estimated remaining useful lives. Other identifiable intangible assets primarily represent the rights arising from contractual arrangements that are amortized using the straight-line method. Goodwill is tested for impairment annually, or more frequently if events or circumstances indicate there may not not no no Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are generally accounted for as collateralized financing transactions and recognized as short-term borrowings in the Company’s consolidated balance sheets. Securities, generally U.S. government and federal agency securities, pledged as collateral under these arrangements can be sold or repledged only if replaced by the secured party. The fair value of the collateral provided to a third Derivative Instruments The Company primarily uses derivative instruments to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. Derivative instruments represent contracts between parties that usually require little or no one may may may If certain conditions are met, a derivative may not Equity-Based Compensation The cost of employee services received in exchange for equity instruments, including stock options and restricted stock awards, is generally measured at fair value on the grant date. The Black-Scholes-Merton valuation model is used to estimate the fair value of stock options at the grant date while the fair value of restricted stock awards is based on the market price of the Company’s common stock on the grant date. The Black-Scholes-Merton model incorporates the following assumptions: the expected volatility is based on the weekly historical volatility of the Company’s common stock price over the expected term of the option; the expected term is generally calculated using the shortcut method; the risk-free interest rate is based on the U.S. Department of the Treasury’s (“Treasury”) yield curve on the grant date with a term comparable to the grant; and the dividend yield is based on the Company’s dividend yield using the most recent dividend rate paid per share and trading price of the Company’s common stock. Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards and as the restriction period for restricted stock awards. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Revenue Recognition Accounting Standards Codification Topic 606 606” not 606, 606, Wealth management third third third Service charges on deposits and other service charges and fees Other operating income. third not 606. Advertising Expenses Advertising costs are generally expensed as incurred. The Company may Income Taxes Income tax expense is comprised of the current and deferred tax consequences of events and transactions already recognized. The Company includes interest and penalties related to income tax liabilities in income tax expense. The effective tax rate, income tax expense as a percent of pre-tax income, may Per Share Results Basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of potential common stock that could be issued by the Company. Under the treasury stock method of accounting, potential common stock may Recent Accounting Standard s Standards to be Adopted in 2020 In June 2016, 2016 13, 326 2016 13 December 15, 2019, December 15, 2018. 2016 13 January 1, 2020, third Standards Adopted in 2019 In July 2018, 2018 09, 2018 09 December 15, 2018. 2018 09 first 2019. no In August 2017, 2017 12, 815 2017 12 December 15, 2018. 2017 12 first 2019. no In February 2016, 2016 02, 842 January 2018, 2018 01, July 2018, 2018 10, 842, 2016 02, 2018 11, not 2016 02 January 1, 2019, no not not $915 $915 not Standards Not In December 2019, 2019 12, 740 December 15, 2020. not not The Company does not |
Note 2 - Acquisitions and Dives
Note 2 - Acquisitions and Divestitures | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 2 . Acquisitions and Divestitures The following are business combinations and divestitures which have occurred over the past three Highlands Bankshares, Inc. On September 11, 2019, 0.2703 December 31, 2019. two $86.65 The Highlands transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date. Fair values are preliminary and subject to refinement for up to a year after the closing date of the acquisition. As recorded by Fair Value As recorded by (Amounts in thousands, except share data) Highlands Adjustments the Company Assets Cash and cash equivalents $ 25,879 $ - $ 25,879 Securities available for sale 53,732 - 53,732 Loans held for sale 263 - 263 Loans held for investment, net of allowance and mark 438,896 (11,429 ) ( a ) 427,467 Premises and equipment 16,722 (2,317 ) ( b ) 14,405 Other real estate 1,963 - 1,963 Other assets 25,556 2,250 ( c ) 27,806 Intangible assets - 4,490 ( d ) 4,490 Total assets $ 563,011 $ (7,006 ) $ 556,005 LIABILITIES Deposits: Noninterest-bearing $ 155,714 $ - $ 155,714 Interest-bearing 346,028 1,261 ( e ) 347,289 Total deposits 501,742 1,261 503,003 Long term debt 40 - 40 Other liabilities 2,938 198 ( f ) 3,136 Total liabilities 504,720 1,459 506,179 Net identifiable assets acquired over (under) liabilities assumed 58,291 (8,465 ) 49,826 Goodwill - 36,821 36,821 Net assets acquired over liabilities assumed $ 58,291 $ 28,356 $ 86,647 Consideration: First Community Bankshares, Inc. common 2,792,729 Purchase price per share of the Company's common stock $ 31.02 Fair Value of Company common stock issued $ 86,631 Cash paid for fractional shares 16 Fair Value of total consideration transferred $ 86,647 Explanation of fair value adjustments: ( a ) - Adjustment reflects the fair value adjustments of $( 14.70 $3.27 ( b ) - Adjustment reflects the fair value adjustments based on the Company's evaluation of the acquired premises and equipment. ( c ) - Adjustment to record the deferred tax asset related to the fair value adjustments. ( d ) - Adjustment reflects the recording of the core deposit intangible on the acquired deposit accounts. ( e ) - Adjustment reflects the fair value adjustment based on the Company's evaluation of the time deposit portfolio. ( f ) - Adjustment reflects the fair value adjustment for death benefits payable of $320 37 85 The following table presents the carrying amount of acquired loans at December 31, 2019, no December 31, 2019 Purchased Purchased (Amounts in thousands) Performing Impaired Total Commercial loans Construction, development, and other land $ 15,763 $ 1,956 $ 17,719 Commercial and industrial 44,474 2,829 47,303 Multi-family residential 21,032 1,663 22,695 Single family non-owner occupied 29,357 4,564 33,921 Non-farm, non-residential 107,489 21,710 129,199 Agricultural 2,298 - 2,298 Farmland 3,287 3,722 7,009 Total commercial loans 223,700 36,444 260,144 Consumer real estate loans Home equity lines 23,654 2,157 25,811 Single family owner occupied 116,413 13,174 129,587 Owner occupied construction 1,097 - 1,097 Total consumer real estate loans 141,164 15,331 156,495 Consumer and other loans Consumer loans 9,487 1,341 10,828 Loans acquired at fair value $ 374,351 $ 53,116 $ 427,467 Comparative and Pro Forma Financial Information for Acquisitions in 2019 As the merger date was the close of business, December 31, 2019, no 2019 $2.12 The following table discloses the impact of the merger. The table also presents certain pro forma information as if Highlands had been acquired on January 1, 2019 January, 1 2018. not January 1, 2019 January 1, 2018. Merger-related costs of $7.16 December 31, 2019, No December 31, 2019 2018 $738,000 $1.84 2020. not ProForma ProForma Year Ended Year Ended (Dollars in thousands) December 31, 2019 December 31, 2018 Total revenues (net interest income plus noninterest income) $ 150,618 $ 145,656 Net adjusted income available to the common shareholder $ 43,463 $ 42,470 Bankers Insurance, LLC On October 1, 2018, one $1.49 third 2018. Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Divestitures Book value of assets sold - (1,685 ) - Book value of liabilities sold - 37 - Sales price in excess of net liabilities assumed - - - Total sales price - (1,648 ) - Cash sold - 35 - Non-cash sales price - 1,603 - Amount due remaining on books - - - Net cash received in divestitures - (10 ) - Net cash received in acquisitions and divestitures $ - $ - $ - |
Note 3 - Debt Securities
Note 3 - Debt Securities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | N ote 3 . Debt Securities The following tables present the amortized cost and fair value of available-for-sale debt securities, including gross unrealized gains and losses, as of the dates indicated: December 31, 2019 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 5,038 $ - $ (4 ) $ 5,034 Municipal securities 85,992 886 - 86,878 Mortgage-backed Agency securities 77,448 380 (166 ) 77,662 Total $ 168,478 $ 1,266 $ (170 ) $ 169,574 December 31, 2018 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 1,108 $ 5 $ - $ 1,113 U.S. Treasury securities 19,970 - (10 ) 19,960 Municipal securities 96,886 912 (509 ) 97,289 Single issue trust preferred securities - - - - Mortgage-backed Agency securities 35,513 14 (773 ) 34,754 Total $ 153,477 $ 931 $ (1,292 ) $ 153,116 The following table presents the amortized cost and fair value of available-for-sale debt securities, by contractual maturity, as of December 31, 2019. may (Amounts in thousands) U.S. Agency Securities U.S. Treasury Securities Municipal Securities Total Amortized cost maturity: One year or less $ - $ - $ - $ - After one year through five years - - 28,739 28,739 After five years through ten years 1,941 - 48,941 50,882 After ten years 3,097 - 8,312 11,409 Amortized cost $ 5,038 $ - $ 85,992 91,030 Mortgage-backed securities 77,448 Total amortized cost $ 168,478 Fair value maturity: One year or less $ - $ - $ - $ - After one year through five years - - 29,049 29,049 After five years through ten years 1,937 - 49,517 51,454 After ten years 3,097 - 8,312 11,409 Fair value $ 5,034 $ - $ 86,878 91,912 Mortgage-backed securities 77,662 Total fair value $ 169,574 The debt securities held in the held-to-maturity portfolio at December 31, 2018, first 2019. $25 December 31, 2018: December 31, 2018 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 17,887 $ - $ (20 ) $ 17,867 Corporate securities 7,126 - (3 ) 7,123 Total $ 25,013 $ - $ (23 ) $ 24,990 The following table presents the amortized cost and fair value of held-to-maturity debt securities, by contractual maturity, as of December 31, 2018. (Amounts in thousands) U.S. Agency Securities Corporate Notes Total Amortized cost maturity: One year or less $ 17,887 $ 7,126 $ 25,013 After one year through five years - - - After five years through ten years - - - After ten years - - - Total amortized cost $ 17,887 $ 7,126 $ 25,013 Fair value maturity: One year or less $ 17,867 $ 7,123 $ 24,990 After one year through five years - - - After five years through ten years - - - After ten years - - - Total fair value $ 17,867 $ 7,123 $ 24,990 The following tables present the fair values and unrealized losses for available-for-sale debt securities in a continuous unrealized loss position for less than 12 12 December 31, 2019 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ 975 $ (4 ) $ - $ - $ 975 $ (4 ) Municipal securities - - - - - - Mortgage-backed Agency securities 8,020 (48 ) 8,319 (118 ) 16,339 (166 ) Total $ 8,995 $ (52 ) $ 8,319 $ (118 ) $ 17,314 $ (170 ) December 31, 2018 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Treasury securities 19,960 (10 ) - - 19,960 (10 ) Municipal securities 7,116 (62 ) 18,081 (447 ) 25,197 (509 ) Mortgage-backed Agency securities 15,762 (99 ) 15,344 (674 ) 31,106 (773 ) Total $ 42,838 $ (171 ) $ 33,425 $ (1,121 ) $ 76,263 $ (1,292 ) The following tables present the fair values and unrealized losses for held-to-maturity debt securities in a continuous unrealized loss position for less than 12 12 December 31, 2018 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ - $ - $ 17,867 $ (20 ) $ 17,867 $ (20 ) Corporate securities - - 7,123 (3 ) 7,123 (3 ) Total $ - $ - $ 24,990 $ (23 ) $ 24,990 $ (23 ) There were 17 December 31, 2019, 0.10% 10 12 not not not 90 December 31, 2018, 0.74% The Company reviews its investment portfolio quarterly for indications of OTTI. The initial indicator of OTTI for debt securities is a decline in fair value below book value and the severity and duration of the decline. The credit-related OTTI is recognized as a charge to noninterest income and the noncredit-related OTTI is recognized in OCI. Temporary impairment on debt securities is primarily related to changes in benchmark interest rates, changes in pricing in the credit markets, and other current economic factors. The following table presents gross realized gains and losses from the sale of available-for-sale debt securities for the periods indicated: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Gross realized gains $ 67 $ - $ - Gross realized losses (110 ) (618 ) (661 ) Net loss on sale of securities $ (43 ) $ (618 ) $ (661 ) The carrying amount of securities pledged for various purposes totaled $27.87 December 31, 2019, $38.25 December 31, 2018. |
Note 4 - Loans
Note 4 - Loans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 . Loans The Company groups loans held for investment into three $2.20 December 31, 2019, $1.79 December 31, 2018. $4.60 December 31, 2019, $4.60 December 31, 2018. 20, The following table presents loans, net of unearned income with non-covered loans and by loan class, as of the dates indicated: December 31, 2019 2018 (Amounts in thousands) Amount Percent Amount Percent Non-covered loans held for investment Commercial loans Construction, development, and other land $ 48,659 2.30 % $ 63,508 3.58 % Commercial and industrial 142,962 6.76 % 104,863 5.91 % Multi-family residential 121,840 5.76 % 107,012 6.03 % Single family non-owner occupied 163,181 7.72 % 140,097 7.89 % Non-farm, non-residential 727,261 34.39 % 613,877 34.58 % Agricultural 11,756 0.56 % 8,545 0.48 % Farmland 23,155 1.10 % 18,905 1.07 % Total commercial loans 1,238,814 58.59 % 1,056,807 59.54 % Consumer real estate loans Home equity lines 110,078 5.21 % 93,466 5.27 % Single family owner occupied 620,697 29.35 % 510,963 28.78 % Owner occupied construction 17,241 0.82 % 18,171 1.02 % Total consumer real estate loans 748,016 35.38 % 622,600 35.07 % Consumer and other loans Consumer loans 110,027 5.20 % 71,552 4.03 % Other 4,742 0.22 % 5,310 0.30 % Total consumer and other loans 114,769 5.42 % 76,862 4.33 % Total non-covered loans 2,101,599 99.39 % 1,756,269 98.94 % Total covered loans 12,861 0.61 % 18,815 1.06 % Total loans held for investment, net of unearned income $ 2,114,460 100.00 % $ 1,775,084 100.00 % Loans held for Sale $ 263 $ - $ - $ - The following table presents the covered loan portfolio, by loan class, as of the dates indicated. December 31, (Amounts in thousands) 2019 2018 Covered loans Commercial loans Construction, development, and other land $ 28 $ 35 Single family non-owner occupied 199 238 Non-farm, non-residential 3 6 Total commercial loans 230 279 Consumer real estate loans Home equity lines 9,853 15,284 Single family owner occupied 2,778 3,252 Total consumer real estate loans 12,631 18,536 Total covered loans $ 12,861 $ 18,815 The Company identifies certain purchased loans as impaired when fair values are established at acquisition and groups those PCI loans into loan pools with common risk characteristics. The Company estimates cash flows to be collected on PCI loans and discounts those cash flows at a market rate of interest. The following table presents the recorded investment and contractual unpaid principal balance of PCI loans, by acquisition, as of the dates indicated: December 31, 2019 2018 (Amounts in thousands) Recorded Investment Unpaid Principal Balance Recorded Investment Unpaid Principal Balance PCI Loans, by acquisition Peoples $ 5,071 $ 6,431 $ 5,330 $ 7,272 Waccamaw 2,708 14,277 5,805 19,602 Highlands 53,116 64,096 - - Other acquired 352 378 868 894 Total PCI Loans $ 61,247 $ 85,182 $ 12,003 $ 27,768 The Highlands acquisition added $8.15 not $53.12 $76.45 Peoples Waccamaw Total (Amounts in thousands) Balance January 1, 2017 $ 4,392 $ 21,834 $ 26,226 Accretion (1,379 ) (5,664 ) (7,043 ) Reclassifications from nonaccretable difference (1) 825 3,378 4,203 Other changes, net (450 ) (83 ) (533 ) Balance December 31, 2017 $ 3,388 $ 19,465 $ 22,853 Balance January 1, 2018 $ 3,388 $ 19,465 $ 22,853 Accretion (1,263 ) (6,269 ) (7,532 ) Reclassifications from nonaccretable difference (1) 8 1,770 1,778 Other changes, net 457 (327 ) 130 Balance December 31, 2018 $ 2,590 $ 14,639 $ 17,229 Balance January 1, 2019 $ 2,590 $ 14,639 $ 17,229 Accretion (950 ) (3,317 ) (4,267 ) Reclassifications from nonaccretable difference (1) 17 1,440 1,457 Other changes, net 233 (188 ) 45 Balance December 31, 2019 $ 1,890 $ 12,574 $ 14,464 ( 1 Respresents changes attributable to expected loss assumptions |
Note 5 - Credit Quality
Note 5 - Credit Quality | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 5. Credit Quality The Company uses a risk grading matrix to assign a risk grade to each loan in its portfolio. Loan risk ratings may ● Pass -- This grade is assigned to loans with acceptable credit quality and risk. The Company further segments this grade based on borrower characteristics that include capital strength, earnings stability, liquidity, leverage, and industry conditions. ● Special Mention -- This grade is assigned to loans that require an above average degree of supervision and attention. These loans have the characteristics of an asset with acceptable credit quality and risk; however, adverse economic or financial conditions exist that create potential weaknesses deserving of management’s close attention. If potential weaknesses are not may ● Substandard -- This grade is assigned to loans that have well defined weaknesses that may ● Doubtful -- This grade is assigned to loans that have the weaknesses inherent in substandard loans; however, the weaknesses are so severe that collection or liquidation in full is unlikely based on current facts, conditions, and values. Due to certain specific pending factors, the amount of loss cannot yet be determined. ● Loss -- This grade is assigned to loans that will be charged off or charged down when payments, including the timing and value of payments, are uncertain. This risk grade does not no not may The following tables present the recorded investment of the loan portfolio, by loan class and credit quality, as of the dates indicated. Losses on covered loans are generally reimbursable by the FDIC at the applicable loss share percentage, 80%; December 31, 2019 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 45,781 $ 2,079 $ 799 $ - $ - $ 48,659 Commercial and industrial 135,651 4,327 2,984 - - 142,962 Multi-family residential 118,045 2,468 1,327 - - 121,840 Single family non-owner occupied 149,916 7,489 5,776 - - 163,181 Non-farm, non-residential 683,481 27,160 16,620 - - 727,261 Agricultural 11,299 122 335 - - 11,756 Farmland 17,609 4,107 1,439 - - 23,155 Consumer real estate loans Home equity lines 106,246 2,014 1,818 - - 110,078 Single family owner occupied 580,580 17,001 23,116 - - 620,697 Owner occupied construction 16,341 179 721 - - 17,241 Consumer and other loans Consumer loans 108,065 1,341 621 - - 110,027 Other 4,742 - - - - 4,742 Total non-covered loans 1,977,756 68,287 55,556 - - 2,101,599 Covered loans Commercial loans Construction, development, and other land - 28 - - - 28 Single family non-owner occupied 199 - - - - 199 Non-farm, non-residential - - 3 - - 3 Consumer real estate loans Home equity lines 7,177 2,327 349 - - 9,853 Single family owner occupied 2,111 275 392 - - 2,778 Total covered loans 9,487 2,630 744 - - 12,861 Total loans $ 1,987,243 $ 70,917 $ 56,300 $ - $ - $ 2,114,460 December 31, 2018 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 61,877 $ 661 $ 970 $ - $ - $ 63,508 Commercial and industrial 102,044 2,166 653 - - 104,863 Multi-family residential 104,183 1,087 1,742 - - 107,012 Single family non-owner occupied 131,443 4,395 4,259 - - 140,097 Non-farm, non-residential 595,659 8,166 9,906 146 - 613,877 Agricultural 8,328 131 86 - - 8,545 Farmland 16,898 538 1,469 - - 18,905 Consumer real estate loans Home equity lines 91,194 649 1,623 - - 93,466 Single family owner occupied 482,794 4,355 23,814 - - 510,963 Owner occupied construction 17,872 - 299 - - 18,171 Consumer and other loans Consumer loans 71,240 4 308 - - 71,552 Other 5,310 - - - - 5,310 Total non-covered loans 1,688,842 22,152 45,129 146 - 1,756,269 Covered loans Commercial loans Construction, development, and other land - 35 - - - 35 Single family non-owner occupied 223 - 15 - - 238 Non-farm, non-residential - - 6 - - 6 Consumer real estate loans Home equity lines 9,511 5,244 529 - - 15,284 Single family owner occupied 2,507 355 390 - - 3,252 Total covered loans 12,241 5,634 940 - - 18,815 Total loans $ 1,701,083 $ 27,786 $ 46,069 $ 146 $ - $ 1,775,084 The Company identifies loans for potential impairment through a variety of means, including, but not not The following table presents the recorded investment, unpaid principal balance, and related allowance for loan losses for impaired loans, excluding PCI loans, as of the dates indicated: December 31, 2019 December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (Amounts in thousands) Investment Balance Allowance Investment Balance Allowance Impaired loans with no related allowance Commercial loans Construction, development, and other land $ 552 $ 768 $ - $ 824 $ 840 $ - Commercial and industrial 576 599 - 386 416 - Multi-family residential 1,254 1,661 - 1,127 1,274 - Single family non-owner occupied 2,652 3,176 - 2,761 3,095 - Non-farm, non-residential 4,158 4,762 - 4,154 4,494 - Agricultural 158 164 - 86 96 - Farmland 1,437 1,500 - 1,464 1,547 - Consumer real estate loans Home equity lines 1,372 1,477 - 1,315 1,451 - Single family owner occupied 15,588 17,835 - 15,451 18,390 - Owner occupied construction 648 648 - 225 225 - Consumer and other loans Consumer loans 290 294 - 145 156 - Total impaired loans with no allowance 28,685 32,884 - 27,938 31,984 - Impaired loans with a related allowance Commercial loans Multi-family residential - - - 534 536 230 Non-farm, non-residential 1,241 1,227 292 840 842 235 Consumer real estate loans Home equity lines - - - 65 68 65 Single family owner occupied 1,246 1,246 353 3,631 3,683 922 Total impaired loans with an allowance 2,487 2,473 645 5,070 5,129 1,452 Total impaired loans (1) $ 31,172 $ 35,357 $ 645 $ 33,008 $ 37,113 $ 1,452 ( 1 Total impaired loans include loans totaling $24.64 December 31, 2019, $25.27 December 31, 2018, not first 2018, $250 $500 The following table presents the average recorded investment and interest income recognized on impaired loans, excluding PCI loans, for the periods indicated: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Impaired loans with no related allowance: Commercial loans Construction, development, and other land $ 22 $ 704 $ 26 $ 921 $ 56 $ 455 Commercial and industrial 34 363 19 383 14 556 Multi-family residential 24 1,356 47 910 53 523 Single family non-owner occupied 123 2,979 123 2,652 106 3,214 Non-farm, non-residential 123 4,683 133 4,828 122 4,052 Agricultural 9 121 - 164 5 124 Farmland 55 1,469 64 1,172 17 853 Consumer real estate loans Home equity lines 46 1,439 44 1,637 50 1,365 Single family owner occupied 599 16,058 503 15,423 488 15,758 Owner occupied construction 29 308 8 244 8 234 Consumer and other loans Consumer loans 13 213 9 161 9 75 Total impaired loans with no related allowance 1,077 29,693 976 28,495 928 27,209 Impaired loans with a related allowance: Commercial loans Construction, development, and other land - - - - - 107 Commercial and industrial - - - - 103 1,376 Multi-family residential - - 2 270 - - Single family non-owner occupied - - 7 110 27 479 Non-farm, non-residential 48 766 2 809 15 789 Farmland - - - 307 22 442 Consumer real estate loans Home equity lines - - 3 68 - 104 Single family owner occupied 46 1,947 158 5,296 161 4,805 Total impaired loans with a related allowance 94 2,713 172 6,860 328 8,102 Total impaired loans $ 1,171 $ 32,406 $ 1,148 $ 35,355 $ 1,256 $ 35,311 There were no December 31, 2019 2018. Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Interest income recognized $ - $ - $ 20 Average recorded investment - - 528 The Company generally places a loan on nonaccrual status when it is 90 not December 31, 2019 December 31, 2018 (Amounts in thousands) Non-covered Covered Total Non-covered Covered Total Commercial loans Construction, development, and other land $ 211 $ - $ 211 $ 413 $ - $ 413 Commercial and industrial 530 - 530 428 - 428 Multi-family residential 1,144 - 1,144 1,395 - 1,395 Single family non-owner occupied 1,286 - 1,286 1,696 15 1,711 Non-farm, non-residential 3,400 - 3,400 4,020 - 4,020 Agricultural 158 - 158 86 - 86 Farmland 713 - 713 711 - 711 Consumer real estate loans Home equity lines 753 220 973 614 271 885 Single family owner occupied 7,259 24 7,283 10,141 36 10,177 Owner occupied construction 428 - 428 - - - Consumer and other loans Consumer loans 231 - 231 79 - 79 Total nonaccrual loans $ 16,113 $ 244 $ 16,357 $ 19,583 $ 322 $ 19,905 The following tables present the aging of past due loans, by loan class, as of the dates indicated. Nonaccrual loans 30 not 90 $144 December 31, 2019, $58 December 31, 2018. December 31, 2019 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 63 $ 65 $ 211 $ 339 $ 48,320 $ 48,659 Commercial and industrial 1,913 238 507 2,658 140,304 142,962 Multi-family residential 375 - 1,144 1,519 120,321 121,840 Single family non-owner occupied 754 267 661 1,682 161,499 163,181 Non-farm, non-residential 917 1,949 3,027 5,893 721,368 727,261 Agricultural 86 164 - 250 11,506 11,756 Farmland 856 349 664 1,869 21,286 23,155 Consumer real estate loans Home equity lines 1,436 165 503 2,104 107,974 110,078 Single family owner occupied 7,728 2,390 3,766 13,884 606,813 620,697 Owner occupied construction 207 - 428 635 16,606 17,241 Consumer and other loans Consumer loans 1,735 439 202 2,376 107,651 110,027 Other 22 - - 22 4,720 4,742 Total non-covered loans 16,092 6,026 11,113 33,231 2,068,368 2,101,599 Covered loans Commercial loans Construction, development, and other land - - - - 28 28 Single family non-owner occupied - - - - 199 199 Non-farm, non-residential - - - - 3 3 Consumer real estate loans Home equity lines 144 28 - 172 9,681 9,853 Single family owner occupied - 50 - 50 2,728 2,778 Total covered loans 144 78 - 222 12,639 12,861 Total loans $ 16,236 $ 6,104 $ 11,113 $ 33,453 $ 2,081,007 $ 2,114,460 December 31, 2018 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 111 $ - $ 407 $ 518 $ 62,990 $ 63,508 Commercial and industrial 306 - 262 568 104,295 104,863 Multi-family residential 113 - 1,274 1,387 105,625 107,012 Single family non-owner occupied 514 1,115 992 2,621 137,476 140,097 Non-farm, non-residential 1,332 540 2,398 4,270 609,607 613,877 Agricultural 109 - - 109 8,436 8,545 Farmland 640 - 392 1,032 17,873 18,905 Consumer real estate loans Home equity lines 408 209 334 951 92,515 93,466 Single family owner occupied 5,006 3,495 4,445 12,946 498,017 510,963 Owner occupied construction - - - - 18,171 18,171 Consumer and other loans Consumer loans 507 200 59 766 70,786 71,552 Other - - - - 5,310 5,310 Total non-covered loans 9,046 5,559 10,563 25,168 1,731,101 1,756,269 Covered loans Commercial loans Construction, development, and other land - - - - 35 35 Single family non-owner occupied 15 - - 15 223 238 Non-farm, non-residential - - - - 6 6 Consumer real estate loans Home equity lines 176 38 91 305 14,979 15,284 Single family owner occupied 166 - - 166 3,086 3,252 Total covered loans 357 38 91 486 18,329 18,815 Total loans $ 9,403 $ 5,597 $ 10,654 $ 25,654 $ 1,749,430 $ 1,775,084 The Company may $250 $250 six not No December 31, 2019 2018. December 31, 2019 2018 (Amounts in thousands) Nonaccrual (1) Accruing Total Nonaccrual (1) Accruing Total Commercial loans Single family non-owner occupied $ 552 $ 595 $ 1,147 $ 640 $ 309 $ 949 Non-farm, non-residential - 307 307 - 314 314 Consumer real estate loans Home equity lines - 115 115 - 127 127 Single family owner occupied 1,790 5,305 7,095 1,941 5,417 7,358 Owner occupied construction - 221 221 - 225 225 Consumer and other loans Consumer loans - 32 32 - 35 35 Total TDRs $ 2,342 $ 6,575 $ 8,917 $ 2,581 $ 6,427 $ 9,008 Allowance for loan losses related to TDRs $ 353 $ 568 ( 1 Nonaccrual TDRs are included in total nonaccrual loans disclosed in the nonaccrual table above. The following table presents interest income recognized on TDRs for the periods indicated: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Interest income recognized $ 277 $ 264 $ 222 The following table presents loans modified as TDRs, by type of concession made and loan class, that were restructured during the periods indicated. Year Ended December 31, 2019 2018 (Amounts in thousands) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment (1) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment (1) Below market interest rate Single family owner occupied - $ - $ - 1 $ 11 $ 11 Below market interest rate and extended payment term Single family owner occupied 6 887 871 1 41 41 Principal deferral Home equity 1 5 2 Single family owner occupied 3 331 279 - - - Total principal deferral 4 336 281 - - - Total 10 $ 1,223 $ 1,152 2 $ 52 $ 52 The following table presents loans modified as TDRs, by loan class, that were restructured within the previous 12 Year Ended December 31, 2019 2018 Total Recorded Total Recorded Contracts Investment Contracts Investment (Amounts in thousands) Single family owner occupied - $ - 1 $ 521 Total - $ - 1 $ 521 The following table provides information about OREO, which consists of properties acquired through foreclosure, as of the dates indicated: December 31, 2019 December 31, 2018 (Amounts in thousands) Non-covered OREO $ 3,969 $ 3,806 Covered OREO - 32 Total OREO $ 3,969 $ 3,838 Non-covered OREO secured by residential real estate $ 2,232 $ 2,303 Residential real estate loans in the foreclosure process (1) 1,539 6,349 ( 1 The recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction |
Note 6 - Allowance for Loan Los
Note 6 - Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 6 . Allowance for Loan Losses The following tables present the changes in the allowance for loan losses, by loan segment, during the periods indicated. There was no December 31, 2019 2018. Year Ended December 31, 2019 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Beginning balance $ 10,499 $ 6,732 $ 1,036 $ 18,267 Provision for (Recovery of) loan losses charged to operations 1,411 (105 ) 2,265 3,571 Charge-offs (2,548 ) (1,790 ) (1,923 ) (6,261 ) Recoveries 873 1,488 487 2,848 Net charge-offs (1,675 ) (302 ) (1,436 ) (3,413 ) Ending balance $ 10,235 $ 6,325 $ 1,865 $ 18,425 Year Ended December 31, 2018 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Beginning balance $ 11,672 $ 6,810 $ 794 $ 19,276 (Recovery of) provision for loan losses charged to operations (660 ) 1,473 1,580 2,393 Charge-offs (1,236 ) (2,005 ) (1,666 ) (4,907 ) Recoveries 723 454 328 1,505 Net charge-offs (513 ) (1,551 ) (1,338 ) (3,402 ) Ending balance $ 10,499 $ 6,732 $ 1,036 $ 18,267 The following tables present the allowance for loan losses and recorded investment in loans evaluated for impairment, excluding PCI loans, by loan class, as of the dates indicated: December 31, 2019 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 30,334 $ 245 Commercial and industrial - - 95,659 699 Multi-family residential 944 - 98,201 969 Single family non-owner occupied - - 128,520 1,323 Non-farm, non-residential 2,575 292 591,520 6,361 Agricultural - - 9,458 145 Farmland - 16,146 201 Total commercial loans 3,519 292 969,838 9,943 Consumer real estate loans Home equity lines - - 91,999 673 Single family owner occupied 3,016 353 490,712 5,175 Owner occupied construction - - 16,144 124 Total consumer real estate loans 3,016 353 598,855 5,972 Consumer and other loans Consumer loans - - 99,199 1,865 Other - - 4,742 - Total consumer and other loans - - 103,941 1,865 Total loans, excluding PCI loans $ 6,535 $ 645 $ 1,672,634 $ 17,780 December 31, 2018 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 63,039 $ 417 Commercial and industrial - - 104,863 663 Multi-family residential 534 230 106,478 962 Single family non-owner occupied - - 138,451 1,442 Non-farm, non-residential 1,403 235 608,537 6,295 Agricultural - - 8,545 85 Farmland 513 - 18,392 170 Total commercial loans 2,450 465 1,048,305 10,034 Consumer real estate loans Home equity lines 65 65 103,668 683 Single family owner occupied 3,631 922 509,929 4,931 Owner occupied construction 1,596 - 16,575 131 Total consumer real estate loans 5,292 987 630,172 5,745 Consumer and other loans Consumer loans - - 71,552 1,036 Other - - 5,310 - Total consumer and other loans - - 76,862 1,036 Total loans, excluding PCI loans $ 7,742 $ 1,452 $ 1,755,339 $ 16,815 The year ended December 31, 2018, $2.67 $563 $513 $1.60 The following table presents the allowance for loan losses on PCI loans and recorded investment in PCI loans, by loan pool, as of the dates indicated: December 31, 2019 December 31, 2018 (Amounts in thousands) Recorded Investment Allowance for Loan Pools With Impairment Recorded Investment Allowance for Loan Pools With Impairment Commercial loans Waccamaw commercial $ - $ - $ - $ - Peoples commercial 4,371 - 4,405 - Highlands: 1-4 family, senior-commercial 4,564 - - - Construction & land development 1,956 - - - Farmland and other agricultural 3,722 - - - Multifamily 1,663 - - - Commercial real estate-owner occupied 13,024 - - - Commercial real estate- non-owner occupied 8,686 - - - Commercial and industrial 2,829 - - - Other 352 - 868 - Total commercial loans 41,167 - 5,273 - Consumer real estate loans Waccamaw serviced home equity lines 2,121 - 5,017 - Waccamaw residential 587 - 788 - Highlands: - - - - 1-4 family, junior and HELOCS 2,157 - - - 1-4 family, senior-consumer 13,174 - - - Consumer 1,341 - - - Peoples residential 700 - 925 - Total consumer real estate loans 20,080 - 6,730 - Total PCI loans $ 61,247 $ - $ 12,003 $ - Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of December 31, 2019. |
Note 7 - FDIC Indemnification A
Note 7 - FDIC Indemnification Asset | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
FDIC Loss Share Agreement Receivable [Text Block] | Note 7 . FDIC Indemnification Asset In connection with the FDIC-assisted acquisition of Waccamaw Bank in 2012, 80% June 30, 2017, June 30, 2020. June 30, 2022. Year Ended December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 5,108 $ 7,161 Reimbursable expenses to the FDIC - (23 ) Net amortization (2,377 ) (2,181 ) Payments to the FDIC 152 151 Ending balance $ 2,883 $ 5,108 Covered loans $ 12,861 $ 18,815 Covered OREO - 32 |
Note 8 - Premises, Equipment, a
Note 8 - Premises, Equipment, and Leases | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 8 . Premises , Equipment , and Leases Premises and Equipment The following table presents the components of premises and equipment as of the dates indicated: December 31, 2019 2018 (Amounts in thousands) Land $ 22,899 $ 18,090 Buildings and leasehold improvements 52,351 45,079 Equipment 38,173 33,551 Total premises and equipment 113,423 96,720 Accumulated depreciation and amortization (50,599 ) (50,935 ) Total premises and equipment, net $ 62,824 $ 45,785 Impairment charges related to certain long-term investments in land and buildings totaled $380 2019, $1.01 2018, $677 2017. $3.45 2019, $2.91 2018, $3.56 2017. Leases Effective January 1, 2019, 2016 02, 842 two January 1, 2019, The Company’s current operating leases relate primarily to bank branches. Two operating leases were acquired in the Highlands transaction; neither of which were for bank branches. One of the leases will terminate in the first 2020; 2022. No 2022 $82 2 10 December 31, 2019, $917 $1.01 3.22%. Year Amount (Amounts in thousands) 2020 $ 154 2021 154 2022 131 2023 119 2024 and thereafter 580 Total lease payments 1,138 Less: Interest (129 ) Present value of lease liabilities $ 1,009 Lease expense was $203 2019, $318 2018, $582 2017. no December 31, 2019. |
Note 9 - Goodwill and Other Int
Note 9 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 9 . Goodwill and Other Intangible Assets Goodwill The Company has one October 2018, one $1.49 fourth 2019 not No The following table presents the changes in goodwill, by reporting unit, during the periods indicated: (Amounts in thousands) Balance January 1, 2017 $ 95,779 Acquisitions and dispositions, net - Balance December 31, 2017 $ 95,779 Balance January 1, 2018 $ 95,779 Acquisitions and dispositions, net (1,543 ) Impairment charges (1,492 ) Balance December 31, 2018 $ 92,744 Balance January 1, 2019 $ 92,744 Acquisitions and dispositions, net 36,821 Balance December 31, 2019 $ 129,565 Other Intangible Assets As of December 31, 2019, 3 10 7 December 31, 2019 2018 2017 (Amounts in thousands) Core deposit intangibles $ 8,184 $ 8,184 $ 8,184 Acquisitions and dispositions, net 4,490 - - Accumulated amortization (4,155 ) (3,158 ) (2,161 ) Core deposit intangibles, net 8,519 5,026 6,023 Other identifiable intangibles - 535 879 Accumulated amortization - (535 ) (751 ) Other identifiable intangibles, net - - 128 Total other intangible assets, net $ 8,519 $ 5,026 $ 6,151 Amortization expense for other intangible assets was $997 2019, $1.04 2018, $1.06 2017. The following schedule presents the estimated amortization expense for intangible assets, by year, as of December 31, 2019: (Amounts in thousands) 2020 $ 1,446 2021 1,446 2022 1,446 2023 880 2024 856 2025 and thereafter 2,445 Total estimated amortization expense $ 8,519 |
Note 10 - Deposits
Note 10 - Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 10 . Deposits The following table presents the components of deposits as of the dates indicated: December 31, 2019 2018 (Amounts in thousands) Noninterest-bearing demand deposits $ 627,868 $ 459,550 Interest-bearing deposits Interest-bearing demand deposits 497,470 451,721 Money market accounts 235,712 153,483 Savings deposits 453,240 345,335 Certificates of deposit 372,821 330,757 Individual retirement accounts 142,801 114,904 Total interest-bearing deposits 1,702,044 1,396,200 Total deposits $ 2,329,912 $ 1,855,750 The following schedule presents the contractual maturities of time deposits, by year, as of December 31, 2019: (Amounts in thousands) 2020 $ 282,220 2021 106,927 2022 62,436 2023 33,579 2024 23,622 2025 and thereafter 6,838 Total contractual maturities $ 515,622 Time deposits of $250 $53.49 December 31, 2019, $43.84 December 31, 2018. $250 December 31, 2019: (Amounts in thousands) Three months or less $ 13,832 Over three through six months 7,867 Over six through twelve months 11,764 Over twelve months 20,031 Total contractual maturities $ 53,494 |
Note 11 - Borrowings
Note 11 - Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 1 1 . Borrowings The following table presents the components of borrowings as of the dates indicated: December 31, 2019 2018 (Amounts in thousands) Balance Weighted Average Rate Balance Weighted Average Rate Short-term borrowings Retail repurchase agreements $ 1,601 0.14 % $ 4,370 0.12 % Long-term borrowings Wholesale repurchase agreements - 25,000 3.18 % Total borrowings $ 1,601 $ 29,370 Repurchase agreements are secured by certain securities that remain under the Company’s control during the terms of the agreements. The counterparties may may December 31, 2019: Overnight and Continuous Up to 30 Days 30 - 90 Days Greater than 90 Days Total (Amounts in thousands) U.S. Agency securities $ - $ - $ - $ - $ - Municipal securities 871 - - - 871 Mortgage-backed Agency securities 730 - - - 730 Total $ 1,601 $ - $ - $ - $ 1,601 The Company’s remaining wholesale repurchase agreement of $25 first 2019. As of December 31, 2019, $261.50 $161.07 $742.86 The Company maintains a $15.00 one 2.00% April 2020. no December 31, 2019 2018. |
Note 12 - Derivative Instrument
Note 12 - Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 1 2 . Derivative Instruments and Hedging Activities Generally, derivative instruments help the Company manage exposure to market risk and meet customer financing needs. Market risk represents the possibility that fluctuations in external factors such as interest rates, market-driven loan rates, prices, or other economic factors will adversely affect economic value or net interest income. The Company uses interest rate swap contracts to modify its exposure to interest rate risk caused by changes in the LIBOR curve in relation to certain designated fixed rate loans. These instruments are used to convert these fixed rate loans to an effective floating rate. If the LIBOR rate falls below the loan’s stated fixed rate for a given period, the Company will owe the floating rate payer the notional amount times the difference between LIBOR and the stated fixed rate. If LIBOR is above the stated rate for a given period, the Company will receive payments based on the notional amount times the difference between LIBOR and the stated fixed rate. The Company’s interest rate swaps qualify as fair value hedging instruments; therefore, fair value changes in the derivative and hedged item attributable to the hedged risk are recognized in earnings in the same period. The fair value hedges were effective as of December 31, 2019. December 31, 2019 2018 (Amounts in thousands) Notional or Contractual Amount Derivative Assets Derivative Liabilities Notional or Contractual Amount Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps $ 17,432 $ - $ 510 $ 5,483 $ 12 $ - Total derivatives $ 17,432 $ - $ 510 $ 5,483 $ 12 $ - The following table presents the effect of derivative and hedging activity, if applicable, on the consolidated statements of income for the periods indicated: Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Income Statement Location Derivatives designated as hedges Interest rate swaps $ 12 $ 40 $ 78 Interest and fees on loans Total derivative expense $ 12 $ 40 $ 78 |
Note 13 - Employee Benefit Plan
Note 13 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 1 3 . Employee Benefit Plans Defined Benefit Plans The Company maintains two 35% 62. 100% three 70. December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 9,265 $ 9,635 Plan change 262 - Service cost 320 245 Interest cost 404 358 Actuarial loss (gain) 1,570 (565 ) Benefits paid (509 ) (408 ) Ending balance $ 11,312 $ 9,265 The following table presents the components of net periodic pension cost, the effect on the consolidated statements of income, and the assumed discount rate for the periods indicated: Year Ended December 31, 2019 2018 2017 Income Statement Location (Amounts in thousands) Service cost $ 320 $ 245 $ 231 Salaries and employee benefits Interest cost 404 358 372 Other expense Amortization of prior service cost 257 228 228 Other expense Amortization of losses 20 57 31 Other expense Net periodic cost $ 1,001 $ 888 $ 862 Assumed discount rate 3.10 % 4.28 % 3.85 % The following schedule presents the projected benefit payments to be paid under the Benefit Plans, by year, as of December 31, 2019: (Amounts in thousands) 2020 $ 590 2021 648 2022 652 2023 651 2024 679 2025 through 2029 3,520 Deferred Compensation Plan The Company maintains deferred compensation agreements with certain current and former officers that provide benefit payments, over various periods, commencing at retirement or death. There were no December 31, 2019 2018. no 2019, none 2018 $11 2017. Employee Welfare Plan The Company provides various medical, dental, vision, life, accidental death and dismemberment, and long-term disability insurance benefits to all full-time employees who elect coverage under this program. A third third December 31, 2019, $175 $4.60 $3.97 2019, $3.72 2018, $3.50 2017. Employee Stock Ownership and Savings Plan The Company maintains the Employee Stock Ownership and Savings Plan (“KSOP”) that consists of a 401 first 401 $1.10 2019, $1.06 2018, $1.18 2017. 346,833 December 31, 2019, 366,969 December 31, 2018, 387,935 December 31, 2017. Equity-Based Compensation Plans The Company maintains equity-based compensation plans to promote the long-term success of the Company by encouraging officers, employees, directors, and other individuals performing services for the Company to focus on critical long-range objectives. The Company’s equity-based compensation plans include the 2012 “2012 2004 2001 1999 December 31, 2019, 2012 2012 no may 2012 600,000 2012 may not ten no 25% first four The following table presents the pre-tax compensation expense and excess tax benefit recognized in earnings for all equity-based compensation plans for the periods indicated: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Pre-tax compensation expense $ 1,481 $ 1,158 $ 790 Excess tax benefit - 95 17 Stock Options The following table presents stock option activity and related information for the year ended December 31, 2019: Option Weighted Average Exercise Price Weighted Average Remaining Contractual Aggregate Intrinsic (Amounts in thousands, except share and per share data) Shares Per Share Term (Years) Value Outstanding, January 1, 2019 156,255 $ 20.85 Granted - - Exercised (8,459 ) 16.14 Canceled (596 ) 24.72 Outstanding, December 31, 2019 147,200 $ 21.10 4.6 $ 1,460 Exercisable, December 31, 2019 126,699 $ 20.52 4.2 $ 1,331 There were no 2019 2018. The intrinsic value of options exercised was $150 2019, $423 2018, $84 2017. December 31, 2019, $10 0.27 Restricted Stock Awards The following table presents restricted stock activity and related information for the year ended December 31, 2019: Weighted Average Shares Grant-Date Fair Value Nonvested, January 1, 2019 51,113 $ 27.37 Granted 50,521 34.22 Vested (43,784 ) 29.26 Canceled (197 ) 32.76 Nonvested, December 31, 2019 57,653 $ 31.93 As of December 31, 2019, $1.23 1.90 |
Note 14 - Other Operating Incom
Note 14 - Other Operating Income and Expense | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | Note 1 4 . Other Operating Income and Expense The following table presents the components of other operating income and expense for the periods indicated: Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Other operating income Bank owned life insurance $ 916 $ 687 $ 1,365 Other (1) 1,888 1,861 2,137 Total other operating income $ 2,804 $ 2,548 $ 3,502 Other operating expense OREO expense and net loss 1,494 1,549 1,202 Telephone and data communications 1,404 1,333 1,554 Office supplies 647 1,045 1,171 Other (1) 8,384 8,800 7,914 Total other operating expense $ 11,929 $ 12,727 $ 11,841 ( 1 Components of other operating income or expense that do not 1% |
Note 15 - Income Taxes
Note 15 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 1 5 . Income Taxes The Tax Reform Act was enacted on December 22, 2017. 21%; not $6.55 fourth 2017 third 2018, $1.67 Income tax expense is comprised of current and deferred, federal and state income taxes on the Company’s pre-tax earnings. The following table presents the components of the income tax provision for the periods indicated: Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Current tax expense (benefit): Federal $ 9,603 $ 7,201 $ 14,509 State 1,554 1,233 926 Total current tax expense 11,157 8,434 15,435 Deferred tax expense (benefit): Federal (152 ) 296 5,205 State (11 ) 52 (12 ) Total deferred tax expense (benefit) (163 ) 348 5,193 Total income tax expense $ 10,994 $ 8,782 $ 20,628 The Company’s effective tax rate, income tax as a percent of pre-tax income, may Year Ended December 31, 2019 2018 2017 Amount Percent Amount Percent Amount Percent (Amounts in thousands) Federal income tax at the statutory rate $ 10,457 21.00 % $ 9,475 21.00 % $ 14,739 35.00 % State income tax, net of federal benefit 1,220 3.12 % 1,016 2.25 % 692 1.64 % 11,677 24.12 % 10,491 23.25 % 15,431 36.64 % Increase (decrease) resulting from: Tax-exempt interest income (637 ) (1.28 )% (702 ) -1.56 % (1,228 ) -2.92 % Nondeductible goodwill impairment and disposition - 0.00 % 569 1.26 % - 0.00 % Bank owned life insurance (249 ) (0.50 )% (144 ) -0.32 % (478 ) -1.13 % Deferred tax revaluation (98 ) (0.20 )% (1,669 ) -3.70 % 6,552 15.56 % Other items, net 301 0.10 % 237 0.53 % 351 0.83 % Income tax at the effective tax rate $ 10,994 22.24 % $ 8,782 19.46 % $ 20,628 48.98 % Deferred taxes derived from continuing operations reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for tax purposes. The following table presents the significant components of the net deferred tax asset as of the dates indicated: December 31, (Amounts in thousands) 2019 2018 Deferred tax assets Allowance for loan losses $ 4,312 $ 4,275 Unrealized losses on available-for-sale securities - 87 Unrealized asset losses 540 730 Purchase accounting 3,689 24 FDIC assisted transactions 1,597 1,510 Intangible assets 745 2,430 Deferred compensation assets 4,079 3,468 Federal net operating loss carryforward 4,279 - Deferred loan fees 1,247 1,201 Other 1,746 491 Total deferred tax assets 22,234 14,216 Deferred tax liabilities FDIC indemnification asset 675 1,195 Fixed assets 1,080 1,381 Odd days interest deferral 1,912 1,614 Unrealized gains on available for sale securities 230 - Other 399 460 Total deferred tax liabilities 4,296 4,650 Net deferred tax asset $ 17,938 $ 9,566 The Company had no December 31, 2019 2018. no December 31, 2019 2018, not December 31, 2016 2018. |
Note 16 - Accumulated Other Com
Note 16 - Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 1 6 . Accumulated Other Comprehensive Income The following table presents the changes in AOCI, net of tax and by component, during the periods indicated: Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Balance January 1, 2017 $ (544 ) $ (1,467 ) $ (2,011 ) Other comprehensive income (loss) before reclassifications 972 (132 ) 840 Reclassified from AOCI 413 162 575 Other comprehensive income, net 1,385 30 1,415 Reclassification of certain tax effects 134 (378 ) (244 ) Balance December 31, 2017 $ 975 $ (1,815 ) $ (840 ) Balance January 1, 2018 $ 975 $ (1,815 ) $ (840 ) Other comprehensive (loss) income before reclassifications (1,748 ) 446 (1,302 ) Reclassified from AOCI 488 225 713 Other comprehensive (loss) income, net (1,260 ) 671 (589 ) Balance December 31, 2018 $ (285 ) $ (1,144 ) $ (1,429 ) Balance January 1, 2019 $ (285 ) $ (1,144 ) $ (1,429 ) Other comprehensive income (loss) before reclassifications 1,117 (1,448 ) (331 ) Reclassified from AOCI 34 220 254 Other comprehensive income (loss), net 1,151 (1,228 ) (77 ) Balance December 31, 2019 $ 866 $ (2,372 ) $ (1,506 ) The following table presents reclassifications out of AOCI, by component, during the periods indicated: Year Ended December 31, Income Statement (Amounts in thousands) 2019 2018 2017 Line Item Affected Available-for-sale securities Losses recognized $ 43 $ 618 $ 661 Net loss on sale of securities Reclassified out of AOCI, before tax 43 618 661 Income before income taxes Income tax benefit (9 ) (130 ) (248 ) Income tax expense Reclassified out of AOCI, net of tax 34 488 413 Net income Employee benefit plans Amortization of prior service cost 257 228 228 Other operating expense Amortization of net actuarial loss 21 57 31 Other operating expense Reclassified out of AOCI, before tax 278 285 259 Income before income taxes Income tax expense (58 ) (60 ) (97 ) Income tax expense Reclassified out of AOCI, net of tax 220 225 162 Net income Total reclassified out of AOCI, net of tax $ 254 $ 713 $ 575 Net income |
Note 17 - Fair Value
Note 17 - Fair Value | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | Note 1 7 . Fair Value Financial Instruments Measured at Fair Value The following discussion describes the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments under the valuation hierarchy. Assets and Liabilities Reported at Fair Value on a Recurring Basis Available-for-Sale Debt Securities 1 not 2 may 2 3 Fair value models may not not 3 third 3 third Equity Securities. 1 not 2. Loans Held for Investment third Deferred Compensation Assets and Liabilities 1 Derivative Assets and Liabilities 2 The following tables summarize financial assets and liabilities recorded at fair value on a recurring basis, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: December 31, 2019 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 5,034 $ - $ 5,034 $ - Municipal securities 86,878 - 86,878 - Mortgage-backed Agency securities 77,662 - 77,662 - Total available-for-sale debt securities 169,574 - 169,574 - Equity securities 55 55 - - Fair value loans 10,358 - - 10,358 Deferred compensation assets 3,990 3,990 - - Deferred compensation liabilities 3,990 3,990 - - Derivative liabilities 510 - 510 - December 31, 2018 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 1,113 $ - $ 1,113 $ - U.S. Treasury securities 19,960 - 19,960 - Municipal securities 97,289 - 97,289 - Mortgage-backed Agency securities 34,754 - 34,754 - Total available-for-sale debt securities 153,116 - 153,116 - Equity securities 55 55 - - Fair value loans 5,412 - - 5,412 Deferred compensation assets 3,527 3,527 - - Derivative assets 12 - 12 - Deferred compensation liabilities 3,527 3,527 - - Changes in Level 3 The following table presents the changes in Level 3 Assets (Amounts in thousands) Balance January 1, 2018 $ - Transfer of certain loans into Level 3 5,739 Changes in fair value 1 Changes due to principal reduction (328 ) Balance December 31, 2018 $ 5,412 Balance January 1, 2019 $ 5,412 Transfer of certain loans into Level 3 (Highlands acquisition) 5,439 Changes in fair value (230 ) Changes due to principal reduction (263 ) Balance December 31, 2019 $ 10,358 In according with the adoption of ASU 2016 01, 2018. 2018, 2 3 December 31, 2018. No 3 December 31, 2018. Assets Measured at Fair Value on a Nonrecurring Basis Impaired Loans 3 The Company maintains an active and robust problem credit identification system. The impairment review includes obtaining third two four third thirty forty-five third not Specific reserves are generally recorded for impaired loans while third third not not not may OREO 3 The following tables present assets measured at fair value on a nonrecurring basis, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: December 31, 2019 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 1,828 $ - $ - $ 1,828 OREO, non-covered 3,969 - - 3,969 December 31, 2018 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 3,618 $ - $ - $ 3,618 OREO, non-covered 3,806 - - 3,806 OREO, covered 32 - - 32 Quantitative Information about Level 3 The following table provides quantitative information for assets measured at fair value on a nonrecurring basis using Level 3 Valuation Unobservable Discount Range (Weighted Average) Technique Input December 31, 2019 December 31, 2018 Impaired loans, non-covered Discounted appraisals (1) Appraisal adjustments (2) 22% to 36% (26%) 15% to 100% (29%) OREO, non-covered Discounted appraisals (1) Appraisal adjustments (2) 15% to 100% (8%) 1% to 81% (31%) OREO, covered Discounted appraisals (1) Appraisal adjustments (2) N/A 49% to 49% (49%) ( 1 Fair value is generally based on appraisals of the underlying collateral. ( 2 Appraisals may The following tables present the carrying amounts and fair values of financial instruments, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: December 31, 2019 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 217,009 $ 217,009 $ 217,009 $ - $ - Debt securities available for sale 169,574 169,574 - 169,574 - Equity securities 55 55 55 - - Loans held for sale 263 263 263 Loans held for investment, net of allowance 2,096,035 2,068,257 - - 2,068,257 FDIC indemnification asset 2,883 1,201 - - 1,201 Interest receivable 6,677 6,677 - 6,677 - Deferred compensation assets 3,990 3,990 3,990 - - Liabilities Time deposits 515,622 512,134 - 512,134 - Securities sold under agreements to repurchase 1,601 1,601 - 1,601 - Interest payable 472 472 - 472 - Deferred compensation liabilities 3,990 3,990 3,990 - - Derivative liabilities 510 510 - 510 - December 31, 2018 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 76,873 $ 76,873 $ 76,873 $ - $ - Debt securities available for sale 153,116 153,116 - 153,116 - Debt securities held to maturity 25,013 24,990 - 24,990 - Equity securities 55 55 55 - - Loans held for investment, net of allowance 1,756,817 1,720,114 - - 1,720,114 FDIC indemnification asset 5,108 2,565 - - 2,565 Interest receivable 5,481 5,481 - 5,481 - Derivative financial assets 12 12 - 12 - Deferred compensation assets 3,527 3,527 3,527 - - Liabilities Time deposits 445,661 436,018 - 436,018 - Securities sold under agreements to repurchase 29,370 29,389 - 29,389 - Interest payable 618 618 - 618 - Deferred compensation liabilities 3,527 3,527 3,527 - - |
Note 18 - Earnings Per Share
Note 18 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 1 8 . Earnings per Share The following table presents the calculation of basic and diluted earnings per common share for the periods indicated: Year Ended December 31, 2019 2018 2017 (Amounts in thousands, except share and per share data) Net income $ 38,802 $ 36,340 $ 21,485 Weighted average common shares outstanding, basic 15,690,812 16,587,504 17,002,116 Dilutive effect of potential common shares Stock options 53,907 62,417 52,205 Restricted stock 11,374 16,464 23,521 Total dilutive effect of potential common shares 65,281 78,881 75,726 Weighted average common shares outstanding, diluted 15,756,093 16,666,385 17,077,842 Basic earnings per common share $ 2.47 $ 2.19 $ 1.26 Diluted earnings per common share 2.46 2.18 1.26 Antidilutive potential common shares Stock options 25 19 64,081 Restricted stock 25,853 2,736 3,620 Total potential antidilutive shares 25,878 2,755 67,701 |
Note 19 - Related Party Transac
Note 19 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 19 . Related Party Transactions The Company engages in transactions with related parties in the normal course of business. Related parties include directors, executive officers, and principal shareholders and their immediate family members, business interests, and affiliates. All related party transactions are made on terms that are substantially the same as those prevailing at the time for similar transactions with unrelated parties, including interest rates and collateral. The following table presents the changes in loans with related parties during the periods indicated: Year Ended December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 22,033 $ 19,337 New loans and advances 3,958 7,142 Loan repayments (5,634 ) (4,676 ) Reclassifications (1) (12 ) 230 Ending balance $ 20,345 $ 22,033 ( 1 Changes related to the composition of the Company's directors, executive officers, and related insiders Deposits from related parties totaled $7.29 December 31, 2019, $7.30 December 31, 2018. $150 2019, $67 2018, $44 2017. no 2019 2018; $49 2017. $7 2019, $4 2018, $63 2017. |
Note 20 - Litigation, Commitmen
Note 20 - Litigation, Commitments, and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 2 0 . Litigation, Commitments , and Contingencies Litigation In the normal course of business, the Company is a defendant in various legal actions and asserted claims. While the Company and its legal counsel are unable to assess the ultimate outcome of each of these matters with certainty, the Company believes the resolution of these actions, singly or in the aggregate, should not Commitments and Contingencies The Company is a party to financial instruments with off balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit, and financial guarantees. These instruments involve, to varying degrees, elements of credit and interest rate risk beyond the amount recognized in the consolidated balance sheets. The contractual amounts of these instruments reflect the extent of involvement the Company has in particular classes of financial instruments. If the other party to a financial instrument does not Commitments to extend credit are agreements to lend to a customer as long as there is no may not may Standby letters of credit and financial guarantees are conditional commitments issued by the Company to guarantee the performance of a customer to a third The following table presents the off-balance sheet financial instruments as of the dates indicated: December 31, 2019 2018 (Amounts in thousands) Commitments to extend credit $ 228,716 $ 215,239 Standby letters of credit and financial guarantees (1) 167,612 149,494 Total off-balance sheet risk 396,328 364,733 Reserve for unfunded commitments $ 66 $ 66 ( 1 Includes FHLB letters of credit |
Note 21 - Regulatory Requiremen
Note 21 - Regulatory Requirements and Restrictions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 2 1 . Regulatory Requirements and Restrictions The Company and the Bank are subject to various regulatory capital requirements administered by state and federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under the capital adequacy guidelines and the regulatory framework for prompt corrective action, which applies only to the Bank, the Bank must meet specific capital guidelines that involve quantitative measures of the entity’s balance sheet assets and off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. In addition, the Company and the Bank are subject to various regulatory restrictions related to the payment of dividends, including requirements to maintain capital at or above regulatory minimums. The current risk-based capital requirements, based on the international capital standards known as Basel III, requires the Company and the Bank to maintain minimum amounts and ratios of Common Equity Tier 1 1 1 1 January 1, 2016, 0.625%, four 0.625% 2.5% January 1, 2019). The following tables present actual and required capital ratios, under Basel III capital rules, as of the dates indicated: December 31, 2019 Actual Minimum Basel III Requirement Minimum Basel III Requirement - with CCB Well Capitalized Requirement (1) (Amounts in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio The Company Common equity Tier 1 ratio $ 292,241 14.31 % $ 91,926 4.50 % $ 142,996 7.00 % N/A N/A Tier 1 risk-based capital ratio 292,241 14.31 % 122,568 6.00 % 173,637 8.50 % N/A N/A Total risk-based capital ratio 310,732 15.21 % 163,423 8.00 % 214,493 10.50 % N/A N/A Tier 1 Leverage ratio 292,241 14.01 % 83,408 4.00 % N/A N/A N/A N/A The Bank Common equity Tier 1 ratio $ 262,716 12.87 % $ 91,860 4.50 % $ 142,893 7.00 % $ 132,686 6.50 % Tier 1 risk-based capital ratio 262,716 12.87 % 122,480 6.00 % 173,513 8.50 % 163,306 8.00 % Total risk-based capital ratio 281,207 13.78 % 163,306 8.00 % 214,339 10.50 % 204,133 10.00 % Tier 1 Leverage ratio 262,716 12.61 % 83,313 4.00 % N/A N/A 104,141 5.00 % ( 1 Based on prompt corrective action provisions December 31, 2018 Actual Minimum Basel III Requirement Minimum Basel III Requirement - with CCB Well Capitalized Requirement (1) (Amounts in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio The Company Common equity Tier 1 ratio $ 236,544 13.72 % $ 77,570 4.50 % $ 120,664 6.375 % N/A N/A Tier 1 risk-based capital ratio 236,544 13.72 % 103,427 6.00 % 146,521 7.875 % N/A N/A Total risk-based capital ratio 254,877 14.79 % 137,902 8.00 % 180,997 9.875 % N/A N/A Tier 1 Leverage ratio 236,544 10.95 % 86,439 4.00 % N/A N/A N/A N/A The Bank Common equity Tier 1 ratio $ 215,424 12.55 % $ 77,223 4.50 % $ 120,124 6.375 % $ 111,544 6.50 % Tier 1 risk-based capital ratio 215,424 12.55 % 102,964 6.00 % 145,865 7.875 % 137,285 8.00 % Total risk-based capital ratio 233,757 13.62 % 137,285 8.00 % 180,186 9.875 % 171,606 10.00 % Tier 1 Leverage ratio 215,424 9.98 % 86,376 4.00 % N/A N/A 107,970 5.00 % ( 1 Based on prompt corrective action provisions |
Note 22 - Parent Company Financ
Note 22 - Parent Company Financial Information | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 2 2 . Parent Company Financial Information The following tables present condensed financial information for the parent company, First Community Bankshares, Inc., as of and for the dates indicated: CONDENSED BALANCE SHEETS December 31, (Amounts in thousands) 2019 2018 Assets Cash and due from banks $ 23,998 $ 13,726 Loans to affiliates 184 184 Investment in subsidiaries 399,294 311,736 Other assets 5,888 7,717 Total assets $ 429,364 $ 333,363 Liabilities Other liabilities $ 545 $ 506 Total liabilities 545 506 Stockholders' equity Preferred stock - - Common stock 18,377 16,007 Additional paid-in capital 192,413 122,486 Retained earnings 219,535 195,793 Accumulated other comprehensive loss (1,506 ) (1,429 ) Total stockholders' equity 428,819 332,857 Total liabilities and stockholders' equity $ 429,364 $ 333,363 CONDENSED STATEMENTS OF INCOME Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash dividends received from subsidiary bank $ 38,500 $ 48,000 $ 22,720 Other income 444 306 352 Other operating expense 1,420 2,293 2,044 Income before income taxes and equity in undistributed net income of subsidiaries 37,524 46,013 21,028 Income tax benefit (276 ) (595 ) (678 ) Income before equity in undistributed net income of subsidiaries 37,800 46,608 21,706 Equity in (dividends in excess) of undistributed net income of subsidiaries 1,002 (10,268 ) (221 ) Net income $ 38,802 $ 36,340 $ 21,485 CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Operating activities Net income $ 38,802 $ 36,340 $ 21,485 Adjustments to reconcile net income to net cash provided by operating activities Net change in other operating activities 1,865 1,509 656 Net cash provided by operating activities 40,667 37,849 22,141 Investing activities Dividends in excess of undistributed net income of subsidiaries (1,002 ) 10,268 221 Net cash provided by investing activities (1,002 ) 10,268 221 Financing activities Repayments of long-term debt - - (15,464 ) Proceeds from issuance of common stock 136 832 738 Payments for repurchase of common stock (16,362 ) (34,412 ) (1,263 ) Payments of common dividends (15,060 ) (21,090 ) (11,563 ) Net change in other financing activities 1,893 1,063 845 Net cash used in financing activities (29,393 ) (53,607 ) (26,707 ) Net increase (decrease) in cash and cash equivalents 10,272 (5,490 ) (4,345 ) Cash and cash equivalents at beginning of period 13,726 19,216 23,561 Cash and cash equivalents at end of period $ 23,998 $ 13,726 $ 19,216 |
Note 23 - Quarterly Financial D
Note 23 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 2 3 . Quarterly Financial Data (Unaudited) The following tables present selected financial data for the periods indicated: Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter (Amounts in thousands, except share and per share data) Interest income $ 23,611 $ 24,382 $ 23,605 $ 23,370 Interest expense 1,425 1,393 1,384 1,313 Net interest income 22,186 22,989 22,221 22,057 Provision for loan losses 1,220 1,585 675 91 Net interest income after provision 20,966 21,404 21,546 21,966 Noninterest income, excluding net loss on sale of securities 8,080 8,692 7,634 9,314 Net loss on sale of securities - (43 ) - - Noninterest expense 16,785 16,651 17,444 18,883 Income before income taxes 12,261 13,402 11,736 12,397 Income tax expense 2,630 2,951 2,580 2,833 Net income $ 9,631 $ 10,451 $ 9,156 $ 9,564 Basic earnings per common share $ 0.61 $ 0.67 $ 0.59 $ 0.61 Diluted earnings per common share 0.60 0.66 0.58 0.61 Dividends per common share 0.21 0.25 0.25 0.25 Weighted average basic shares outstanding 15,839,424 15,712,204 15,603,992 15,611,093 Weighted average diluted shares outstanding 15,920,950 15,775,320 15,664,587 15,670,047 Year Ended December 31, 2018 First Second Third Fourth Quarter Quarter Quarter Quarter (Amounts in thousands, except share and per share data) Interest income $ 24,330 $ 24,297 $ 24,286 $ 25,381 Interest expense 1,951 2,035 1,961 1,502 Net interest income 22,379 22,262 22,325 23,879 Provision for loan losses 495 495 495 908 Net interest income after provision 21,884 21,767 21,830 22,971 Noninterest income, excluding net loss on sale of securities 6,668 6,959 7,137 6,297 Net loss on sale of securities - - (618 ) - Noninterest expense 17,116 17,160 18,131 17,366 Income before income taxes 11,436 11,566 10,218 11,902 Income tax expense 2,568 2,500 1,118 2,596 Net income $ 8,868 $ 9,066 $ 9,100 $ 9,306 Basic earnings per common share $ 0.52 $ 0.54 $ 0.55 $ 0.58 Diluted earnings per common share 0.52 0.54 0.55 0.57 Dividends per common share 0.66 0.18 0.21 0.21 Weighted average basic shares outstanding 16,955,758 16,689,398 16,512,823 16,201,148 Weighted average diluted shares outstanding 17,047,638 16,788,615 16,612,416 16,280,404 100 Table of Contents |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation First Community Bankshares, Inc. (the “Company”), a financial holding company, was founded in 1989 2018. 1874. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The Company’s accounting and reporting policies conform with U.S. generally accepted accounting principles (“GAAP”) and prevailing practices in the banking industry. The consolidated financial statements include all accounts of the Company and its wholly owned subsidiaries and eliminate all intercompany balances and transactions. The Company operates in one The Company maintains investments in variable interest entities (“VIEs”). VIEs are legal entities in which equity investors do not not not not |
Reclassification, Policy [Policy Text Block] | Reclassification Certain amounts reported in prior years have been reclassified to conform to the current year’s presentation. These reclassifications had no |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that require the most subjective or complex judgments relate to fair value measurements, the allowance for loan losses, goodwill and other intangible assets, and income taxes. For additional information, see “Critical Accounting Policies” in Part II, Item 7 |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants. Market participants are buyers and sellers in the principal market that are independent, knowledgeable, able to transact, and willing to transact. The fair value hierarchy ranks the inputs used in measuring fair value as follows: ● Level 1 ● Level 2 1 ● Level 3 no The Company uses fair value measurements to record adjustments to certain financial assets and liabilities on a recurring basis. The Company may may not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalent s Cash and cash equivalents include cash and due from banks, federal funds sold, and interest-bearing balances on deposit with the Federal Home Loan Bank (“FHLB”), the Federal Reserve Bank (“FRB”), and correspondent banks that are available for immediate withdrawal. |
Marketable Securities, Policy [Policy Text Block] | Investment Securities Management classifies debt securities as held-to-maturity or available-for-sale based on the intent and ability to hold the securities to maturity. Debt securities that the Company has the intent and ability to hold to maturity are classified as held-to-maturity securities and carried at amortized cost. Debt securities not may The Company reviews its investment portfolio quarterly for indications of other-than-temporary impairment (“OTTI”) using inputs from independent third not not not |
Other Investments [Policy Text Block] | Other Investments As a condition of membership in the FHLB and the FRB, the Company is required to hold a minimum level of stock in the FHLB of Atlanta and the FRB of Richmond. These securities are carried at cost and periodically reviewed for impairment. The total investment in FHLB and FRB stock, which is included in other assets, was $8.90 December 31, 2019, $7.78 December 31, 2018. The Company owns certain long-term equity investments without readily determinable fair values, including certain tax credit limited partnerships and various limited liability companies that manage real estate investments, facilitate tax credits, and provide title insurance and other related financial services. These investments are accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. The total carrying value in these investments, which is included other assets, totaled $3.68 December 31, 2019, $2.20 December 31, 2018. |
Business Combinations Policy [Policy Text Block] | Business Combinations The Company accounts for business combinations using the acquisition method of accounting as outlined in using Topic 805 one |
Financing Receivable, Held-for-investment [Policy Text Block] | Loans Held for Investment Loans classified as held for investment are originated with the intent to hold indefinitely, until maturity, or until pay-off. Loans held for investment are carried at the principal amount outstanding, net of unearned income and any necessary write-downs to reduce individual loans to net realizable value. Interest income on performing loans is recognized as interest income at the contractual rate of interest. Loan origination fees, including loan commitment and underwriting fees, are reduced by direct costs associated with loan processing, including salaries, legal review, and appraisal fees. Net deferred loan fees are deferred and amortized over the life of the related loan or commitment period. Purchased Performing Loans . No P urchased C redit I mpaired (“PCI”) Loans not 310 30 may Impaired Loans and Nonperforming Assets $500 not 90 Loans are considered past due when either principal or interest payments become contractually delinquent by 30 90 may not not may six Seriously delinquent loans are evaluated for loss mitigation options. Closed-end retail loans are generally charged off against the allowance for loan losses when the loans become 120 180 90 120 Loans are considered troubled debt restructurings (“TDRs”) when the Company grants concessions, for legal or economic reasons, to borrowers experiencing financial difficulty that would not $250 $250 six Other real estate owned (“OREO”) acquired through foreclosure, or other settlement, is carried at the lower of cost or fair value less estimated selling costs. The fair value is generally based on current third |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses Management performs quarterly assessments of the allowance for loan losses. The allowance is increased by provisions charged to operations and reduced by net charge-offs. The provision is calculated and charged to earnings to bring the allowance to a level that, through a systematic process of measurement, reflects the amount management estimates is needed to absorb probable losses in the portfolio. The Company’s allowance for loan losses is segmented into commercial, consumer real estate, and consumer and other loans with each segment divided into classes with similar characteristics, such as the type of loan and collateral. The allowance for loan losses includes specific allocations related to significant individual loans and credit relationships and general reserves related to loans not not PCI loans are grouped into pools and evaluated separately from the non-PCI portfolio. The Company estimates cash flows to be collected on PCI loans and discounts those cash flows at a market rate of interest. If cash flows for PCI loans are expected to decline, generally a provision for loan losses is charged to earnings, resulting in an increase to the allowance for loan losses. If cash flows for PCI loans are expected to improve, any previously established allowance is first 80%, |
Federal Deposit Insurance Corporation Indemnification Asset [Policy Text Block] | FDIC Indemnification Asset The FDIC indemnification asset represents the carrying amount of the right to receive payments from the FDIC for losses incurred on certain loans and OREO purchased from the FDIC that are covered by loss share agreements. The FDIC indemnification asset is measured separately from related covered assets because it is not not |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises, equipment, and capital leases are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets. Useful lives range from 5 10 3 5 7 40 20 first 10 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of goodwill, core deposit intangible assets, and other identifiable intangible assets that result from business combinations. Goodwill represents the excess of the purchase price over the fair value of net assets acquired that is allocated to the appropriate reporting unit when acquired. Core deposit intangible assets represent the future earnings potential of acquired deposit relationships that are amortized over their estimated remaining useful lives. Other identifiable intangible assets primarily represent the rights arising from contractual arrangements that are amortized using the straight-line method. Goodwill is tested for impairment annually, or more frequently if events or circumstances indicate there may not not no no |
Repurchase Agreements, Collateral, Policy [Policy Text Block] | Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are generally accounted for as collateralized financing transactions and recognized as short-term borrowings in the Company’s consolidated balance sheets. Securities, generally U.S. government and federal agency securities, pledged as collateral under these arrangements can be sold or repledged only if replaced by the secured party. The fair value of the collateral provided to a third |
Derivatives, Policy [Policy Text Block] | Derivative Instruments The Company primarily uses derivative instruments to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. Derivative instruments represent contracts between parties that usually require little or no one may may may If certain conditions are met, a derivative may not |
Share-based Payment Arrangement [Policy Text Block] | Equity-Based Compensation The cost of employee services received in exchange for equity instruments, including stock options and restricted stock awards, is generally measured at fair value on the grant date. The Black-Scholes-Merton valuation model is used to estimate the fair value of stock options at the grant date while the fair value of restricted stock awards is based on the market price of the Company’s common stock on the grant date. The Black-Scholes-Merton model incorporates the following assumptions: the expected volatility is based on the weekly historical volatility of the Company’s common stock price over the expected term of the option; the expected term is generally calculated using the shortcut method; the risk-free interest rate is based on the U.S. Department of the Treasury’s (“Treasury”) yield curve on the grant date with a term comparable to the grant; and the dividend yield is based on the Company’s dividend yield using the most recent dividend rate paid per share and trading price of the Company’s common stock. Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards and as the restriction period for restricted stock awards. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Accounting Standards Codification Topic 606 606” not 606, 606, Wealth management third third third Service charges on deposits and other service charges and fees Other operating income. third not 606. |
Advertising Cost [Policy Text Block] | Advertising Expenses Advertising costs are generally expensed as incurred. The Company may |
Income Tax, Policy [Policy Text Block] | Income Taxes Income tax expense is comprised of the current and deferred tax consequences of events and transactions already recognized. The Company includes interest and penalties related to income tax liabilities in income tax expense. The effective tax rate, income tax expense as a percent of pre-tax income, may |
Earnings Per Share, Policy [Policy Text Block] | Per Share Results Basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of potential common stock that could be issued by the Company. Under the treasury stock method of accounting, potential common stock may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standard s Standards to be Adopted in 2020 In June 2016, 2016 13, 326 2016 13 December 15, 2019, December 15, 2018. 2016 13 January 1, 2020, third Standards Adopted in 2019 In July 2018, 2018 09, 2018 09 December 15, 2018. 2018 09 first 2019. no In August 2017, 2017 12, 815 2017 12 December 15, 2018. 2017 12 first 2019. no In February 2016, 2016 02, 842 January 2018, 2018 01, July 2018, 2018 10, 842, 2016 02, 2018 11, not 2016 02 January 1, 2019, no not not $915 $915 not Standards Not In December 2019, 2019 12, 740 December 15, 2020. not not The Company does not |
Note 2 - Acquisitions and Div_2
Note 2 - Acquisitions and Divestitures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | As recorded by Fair Value As recorded by (Amounts in thousands, except share data) Highlands Adjustments the Company Assets Cash and cash equivalents $ 25,879 $ - $ 25,879 Securities available for sale 53,732 - 53,732 Loans held for sale 263 - 263 Loans held for investment, net of allowance and mark 438,896 (11,429 ) ( a ) 427,467 Premises and equipment 16,722 (2,317 ) ( b ) 14,405 Other real estate 1,963 - 1,963 Other assets 25,556 2,250 ( c ) 27,806 Intangible assets - 4,490 ( d ) 4,490 Total assets $ 563,011 $ (7,006 ) $ 556,005 LIABILITIES Deposits: Noninterest-bearing $ 155,714 $ - $ 155,714 Interest-bearing 346,028 1,261 ( e ) 347,289 Total deposits 501,742 1,261 503,003 Long term debt 40 - 40 Other liabilities 2,938 198 ( f ) 3,136 Total liabilities 504,720 1,459 506,179 Net identifiable assets acquired over (under) liabilities assumed 58,291 (8,465 ) 49,826 Goodwill - 36,821 36,821 Net assets acquired over liabilities assumed $ 58,291 $ 28,356 $ 86,647 Consideration: First Community Bankshares, Inc. common 2,792,729 Purchase price per share of the Company's common stock $ 31.02 Fair Value of Company common stock issued $ 86,631 Cash paid for fractional shares 16 Fair Value of total consideration transferred $ 86,647 |
Schedule of Loans Acquired [Table Text Block] | December 31, 2019 Purchased Purchased (Amounts in thousands) Performing Impaired Total Commercial loans Construction, development, and other land $ 15,763 $ 1,956 $ 17,719 Commercial and industrial 44,474 2,829 47,303 Multi-family residential 21,032 1,663 22,695 Single family non-owner occupied 29,357 4,564 33,921 Non-farm, non-residential 107,489 21,710 129,199 Agricultural 2,298 - 2,298 Farmland 3,287 3,722 7,009 Total commercial loans 223,700 36,444 260,144 Consumer real estate loans Home equity lines 23,654 2,157 25,811 Single family owner occupied 116,413 13,174 129,587 Owner occupied construction 1,097 - 1,097 Total consumer real estate loans 141,164 15,331 156,495 Consumer and other loans Consumer loans 9,487 1,341 10,828 Loans acquired at fair value $ 374,351 $ 53,116 $ 427,467 |
Business Acquisition, Pro Forma Information [Table Text Block] | ProForma ProForma Year Ended Year Ended (Dollars in thousands) December 31, 2019 December 31, 2018 Total revenues (net interest income plus noninterest income) $ 150,618 $ 145,656 Net adjusted income available to the common shareholder $ 43,463 $ 42,470 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Divestitures Book value of assets sold - (1,685 ) - Book value of liabilities sold - 37 - Sales price in excess of net liabilities assumed - - - Total sales price - (1,648 ) - Cash sold - 35 - Non-cash sales price - 1,603 - Amount due remaining on books - - - Net cash received in divestitures - (10 ) - Net cash received in acquisitions and divestitures $ - $ - $ - |
Note 3 - Debt Securities (Table
Note 3 - Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2019 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 5,038 $ - $ (4 ) $ 5,034 Municipal securities 85,992 886 - 86,878 Mortgage-backed Agency securities 77,448 380 (166 ) 77,662 Total $ 168,478 $ 1,266 $ (170 ) $ 169,574 December 31, 2018 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 1,108 $ 5 $ - $ 1,113 U.S. Treasury securities 19,970 - (10 ) 19,960 Municipal securities 96,886 912 (509 ) 97,289 Single issue trust preferred securities - - - - Mortgage-backed Agency securities 35,513 14 (773 ) 34,754 Total $ 153,477 $ 931 $ (1,292 ) $ 153,116 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Amounts in thousands) U.S. Agency Securities U.S. Treasury Securities Municipal Securities Total Amortized cost maturity: One year or less $ - $ - $ - $ - After one year through five years - - 28,739 28,739 After five years through ten years 1,941 - 48,941 50,882 After ten years 3,097 - 8,312 11,409 Amortized cost $ 5,038 $ - $ 85,992 91,030 Mortgage-backed securities 77,448 Total amortized cost $ 168,478 Fair value maturity: One year or less $ - $ - $ - $ - After one year through five years - - 29,049 29,049 After five years through ten years 1,937 - 49,517 51,454 After ten years 3,097 - 8,312 11,409 Fair value $ 5,034 $ - $ 86,878 91,912 Mortgage-backed securities 77,662 Total fair value $ 169,574 (Amounts in thousands) U.S. Agency Securities Corporate Notes Total Amortized cost maturity: One year or less $ 17,887 $ 7,126 $ 25,013 After one year through five years - - - After five years through ten years - - - After ten years - - - Total amortized cost $ 17,887 $ 7,126 $ 25,013 Fair value maturity: One year or less $ 17,867 $ 7,123 $ 24,990 After one year through five years - - - After five years through ten years - - - After ten years - - - Total fair value $ 17,867 $ 7,123 $ 24,990 |
Debt Securities, Held-to-maturity [Table Text Block] | December 31, 2018 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 17,887 $ - $ (20 ) $ 17,867 Corporate securities 7,126 - (3 ) 7,123 Total $ 25,013 $ - $ (23 ) $ 24,990 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | December 31, 2019 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ 975 $ (4 ) $ - $ - $ 975 $ (4 ) Municipal securities - - - - - - Mortgage-backed Agency securities 8,020 (48 ) 8,319 (118 ) 16,339 (166 ) Total $ 8,995 $ (52 ) $ 8,319 $ (118 ) $ 17,314 $ (170 ) December 31, 2018 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Treasury securities 19,960 (10 ) - - 19,960 (10 ) Municipal securities 7,116 (62 ) 18,081 (447 ) 25,197 (509 ) Mortgage-backed Agency securities 15,762 (99 ) 15,344 (674 ) 31,106 (773 ) Total $ 42,838 $ (171 ) $ 33,425 $ (1,121 ) $ 76,263 $ (1,292 ) |
Schedule of Held to Maturity Debt Securities [Table Text Block] | December 31, 2018 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ - $ - $ 17,867 $ (20 ) $ 17,867 $ (20 ) Corporate securities - - 7,123 (3 ) 7,123 (3 ) Total $ - $ - $ 24,990 $ (23 ) $ 24,990 $ (23 ) |
Realized Gain (Loss) on Investments [Table Text Block] | Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Gross realized gains $ 67 $ - $ - Gross realized losses (110 ) (618 ) (661 ) Net loss on sale of securities $ (43 ) $ (618 ) $ (661 ) |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Amount Percent Amount Percent Non-covered loans held for investment Commercial loans Construction, development, and other land $ 48,659 2.30 % $ 63,508 3.58 % Commercial and industrial 142,962 6.76 % 104,863 5.91 % Multi-family residential 121,840 5.76 % 107,012 6.03 % Single family non-owner occupied 163,181 7.72 % 140,097 7.89 % Non-farm, non-residential 727,261 34.39 % 613,877 34.58 % Agricultural 11,756 0.56 % 8,545 0.48 % Farmland 23,155 1.10 % 18,905 1.07 % Total commercial loans 1,238,814 58.59 % 1,056,807 59.54 % Consumer real estate loans Home equity lines 110,078 5.21 % 93,466 5.27 % Single family owner occupied 620,697 29.35 % 510,963 28.78 % Owner occupied construction 17,241 0.82 % 18,171 1.02 % Total consumer real estate loans 748,016 35.38 % 622,600 35.07 % Consumer and other loans Consumer loans 110,027 5.20 % 71,552 4.03 % Other 4,742 0.22 % 5,310 0.30 % Total consumer and other loans 114,769 5.42 % 76,862 4.33 % Total non-covered loans 2,101,599 99.39 % 1,756,269 98.94 % Total covered loans 12,861 0.61 % 18,815 1.06 % Total loans held for investment, net of unearned income $ 2,114,460 100.00 % $ 1,775,084 100.00 % Loans held for Sale $ 263 $ - $ - $ - |
Schedule of Covered Loans Held for Investment Net of Unearned Income [Table Text Block] | December 31, (Amounts in thousands) 2019 2018 Covered loans Commercial loans Construction, development, and other land $ 28 $ 35 Single family non-owner occupied 199 238 Non-farm, non-residential 3 6 Total commercial loans 230 279 Consumer real estate loans Home equity lines 9,853 15,284 Single family owner occupied 2,778 3,252 Total consumer real estate loans 12,631 18,536 Total covered loans $ 12,861 $ 18,815 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Recorded Investment Unpaid Principal Balance Recorded Investment Unpaid Principal Balance PCI Loans, by acquisition Peoples $ 5,071 $ 6,431 $ 5,330 $ 7,272 Waccamaw 2,708 14,277 5,805 19,602 Highlands 53,116 64,096 - - Other acquired 352 378 868 894 Total PCI Loans $ 61,247 $ 85,182 $ 12,003 $ 27,768 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Accretable Yield [Table Text Block] | Peoples Waccamaw Total (Amounts in thousands) Balance January 1, 2017 $ 4,392 $ 21,834 $ 26,226 Accretion (1,379 ) (5,664 ) (7,043 ) Reclassifications from nonaccretable difference (1) 825 3,378 4,203 Other changes, net (450 ) (83 ) (533 ) Balance December 31, 2017 $ 3,388 $ 19,465 $ 22,853 Balance January 1, 2018 $ 3,388 $ 19,465 $ 22,853 Accretion (1,263 ) (6,269 ) (7,532 ) Reclassifications from nonaccretable difference (1) 8 1,770 1,778 Other changes, net 457 (327 ) 130 Balance December 31, 2018 $ 2,590 $ 14,639 $ 17,229 Balance January 1, 2019 $ 2,590 $ 14,639 $ 17,229 Accretion (950 ) (3,317 ) (4,267 ) Reclassifications from nonaccretable difference (1) 17 1,440 1,457 Other changes, net 233 (188 ) 45 Balance December 31, 2019 $ 1,890 $ 12,574 $ 14,464 |
Note 5 - Credit Quality (Tables
Note 5 - Credit Quality (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 2019 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 45,781 $ 2,079 $ 799 $ - $ - $ 48,659 Commercial and industrial 135,651 4,327 2,984 - - 142,962 Multi-family residential 118,045 2,468 1,327 - - 121,840 Single family non-owner occupied 149,916 7,489 5,776 - - 163,181 Non-farm, non-residential 683,481 27,160 16,620 - - 727,261 Agricultural 11,299 122 335 - - 11,756 Farmland 17,609 4,107 1,439 - - 23,155 Consumer real estate loans Home equity lines 106,246 2,014 1,818 - - 110,078 Single family owner occupied 580,580 17,001 23,116 - - 620,697 Owner occupied construction 16,341 179 721 - - 17,241 Consumer and other loans Consumer loans 108,065 1,341 621 - - 110,027 Other 4,742 - - - - 4,742 Total non-covered loans 1,977,756 68,287 55,556 - - 2,101,599 Covered loans Commercial loans Construction, development, and other land - 28 - - - 28 Single family non-owner occupied 199 - - - - 199 Non-farm, non-residential - - 3 - - 3 Consumer real estate loans Home equity lines 7,177 2,327 349 - - 9,853 Single family owner occupied 2,111 275 392 - - 2,778 Total covered loans 9,487 2,630 744 - - 12,861 Total loans $ 1,987,243 $ 70,917 $ 56,300 $ - $ - $ 2,114,460 December 31, 2018 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 61,877 $ 661 $ 970 $ - $ - $ 63,508 Commercial and industrial 102,044 2,166 653 - - 104,863 Multi-family residential 104,183 1,087 1,742 - - 107,012 Single family non-owner occupied 131,443 4,395 4,259 - - 140,097 Non-farm, non-residential 595,659 8,166 9,906 146 - 613,877 Agricultural 8,328 131 86 - - 8,545 Farmland 16,898 538 1,469 - - 18,905 Consumer real estate loans Home equity lines 91,194 649 1,623 - - 93,466 Single family owner occupied 482,794 4,355 23,814 - - 510,963 Owner occupied construction 17,872 - 299 - - 18,171 Consumer and other loans Consumer loans 71,240 4 308 - - 71,552 Other 5,310 - - - - 5,310 Total non-covered loans 1,688,842 22,152 45,129 146 - 1,756,269 Covered loans Commercial loans Construction, development, and other land - 35 - - - 35 Single family non-owner occupied 223 - 15 - - 238 Non-farm, non-residential - - 6 - - 6 Consumer real estate loans Home equity lines 9,511 5,244 529 - - 15,284 Single family owner occupied 2,507 355 390 - - 3,252 Total covered loans 12,241 5,634 940 - - 18,815 Total loans $ 1,701,083 $ 27,786 $ 46,069 $ 146 $ - $ 1,775,084 |
Impaired Financing Receivables [Table Text Block] | December 31, 2019 December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (Amounts in thousands) Investment Balance Allowance Investment Balance Allowance Impaired loans with no related allowance Commercial loans Construction, development, and other land $ 552 $ 768 $ - $ 824 $ 840 $ - Commercial and industrial 576 599 - 386 416 - Multi-family residential 1,254 1,661 - 1,127 1,274 - Single family non-owner occupied 2,652 3,176 - 2,761 3,095 - Non-farm, non-residential 4,158 4,762 - 4,154 4,494 - Agricultural 158 164 - 86 96 - Farmland 1,437 1,500 - 1,464 1,547 - Consumer real estate loans Home equity lines 1,372 1,477 - 1,315 1,451 - Single family owner occupied 15,588 17,835 - 15,451 18,390 - Owner occupied construction 648 648 - 225 225 - Consumer and other loans Consumer loans 290 294 - 145 156 - Total impaired loans with no allowance 28,685 32,884 - 27,938 31,984 - Impaired loans with a related allowance Commercial loans Multi-family residential - - - 534 536 230 Non-farm, non-residential 1,241 1,227 292 840 842 235 Consumer real estate loans Home equity lines - - - 65 68 65 Single family owner occupied 1,246 1,246 353 3,631 3,683 922 Total impaired loans with an allowance 2,487 2,473 645 5,070 5,129 1,452 Total impaired loans (1) $ 31,172 $ 35,357 $ 645 $ 33,008 $ 37,113 $ 1,452 |
Schedule of Impaired Financing Receivable, Average Recorded Investment and Interest Income Recognized [Table Text Block] | Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Impaired loans with no related allowance: Commercial loans Construction, development, and other land $ 22 $ 704 $ 26 $ 921 $ 56 $ 455 Commercial and industrial 34 363 19 383 14 556 Multi-family residential 24 1,356 47 910 53 523 Single family non-owner occupied 123 2,979 123 2,652 106 3,214 Non-farm, non-residential 123 4,683 133 4,828 122 4,052 Agricultural 9 121 - 164 5 124 Farmland 55 1,469 64 1,172 17 853 Consumer real estate loans Home equity lines 46 1,439 44 1,637 50 1,365 Single family owner occupied 599 16,058 503 15,423 488 15,758 Owner occupied construction 29 308 8 244 8 234 Consumer and other loans Consumer loans 13 213 9 161 9 75 Total impaired loans with no related allowance 1,077 29,693 976 28,495 928 27,209 Impaired loans with a related allowance: Commercial loans Construction, development, and other land - - - - - 107 Commercial and industrial - - - - 103 1,376 Multi-family residential - - 2 270 - - Single family non-owner occupied - - 7 110 27 479 Non-farm, non-residential 48 766 2 809 15 789 Farmland - - - 307 22 442 Consumer real estate loans Home equity lines - - 3 68 - 104 Single family owner occupied 46 1,947 158 5,296 161 4,805 Total impaired loans with a related allowance 94 2,713 172 6,860 328 8,102 Total impaired loans $ 1,171 $ 32,406 $ 1,148 $ 35,355 $ 1,256 $ 35,311 |
Impaired Financing Receivables, Summarized Information [Table Text Block] | Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Interest income recognized $ - $ - $ 20 Average recorded investment - - 528 |
Financing Receivable, Nonaccrual [Table Text Block] | December 31, 2019 December 31, 2018 (Amounts in thousands) Non-covered Covered Total Non-covered Covered Total Commercial loans Construction, development, and other land $ 211 $ - $ 211 $ 413 $ - $ 413 Commercial and industrial 530 - 530 428 - 428 Multi-family residential 1,144 - 1,144 1,395 - 1,395 Single family non-owner occupied 1,286 - 1,286 1,696 15 1,711 Non-farm, non-residential 3,400 - 3,400 4,020 - 4,020 Agricultural 158 - 158 86 - 86 Farmland 713 - 713 711 - 711 Consumer real estate loans Home equity lines 753 220 973 614 271 885 Single family owner occupied 7,259 24 7,283 10,141 36 10,177 Owner occupied construction 428 - 428 - - - Consumer and other loans Consumer loans 231 - 231 79 - 79 Total nonaccrual loans $ 16,113 $ 244 $ 16,357 $ 19,583 $ 322 $ 19,905 |
Financing Receivable, Past Due [Table Text Block] | December 31, 2019 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 63 $ 65 $ 211 $ 339 $ 48,320 $ 48,659 Commercial and industrial 1,913 238 507 2,658 140,304 142,962 Multi-family residential 375 - 1,144 1,519 120,321 121,840 Single family non-owner occupied 754 267 661 1,682 161,499 163,181 Non-farm, non-residential 917 1,949 3,027 5,893 721,368 727,261 Agricultural 86 164 - 250 11,506 11,756 Farmland 856 349 664 1,869 21,286 23,155 Consumer real estate loans Home equity lines 1,436 165 503 2,104 107,974 110,078 Single family owner occupied 7,728 2,390 3,766 13,884 606,813 620,697 Owner occupied construction 207 - 428 635 16,606 17,241 Consumer and other loans Consumer loans 1,735 439 202 2,376 107,651 110,027 Other 22 - - 22 4,720 4,742 Total non-covered loans 16,092 6,026 11,113 33,231 2,068,368 2,101,599 Covered loans Commercial loans Construction, development, and other land - - - - 28 28 Single family non-owner occupied - - - - 199 199 Non-farm, non-residential - - - - 3 3 Consumer real estate loans Home equity lines 144 28 - 172 9,681 9,853 Single family owner occupied - 50 - 50 2,728 2,778 Total covered loans 144 78 - 222 12,639 12,861 Total loans $ 16,236 $ 6,104 $ 11,113 $ 33,453 $ 2,081,007 $ 2,114,460 December 31, 2018 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 111 $ - $ 407 $ 518 $ 62,990 $ 63,508 Commercial and industrial 306 - 262 568 104,295 104,863 Multi-family residential 113 - 1,274 1,387 105,625 107,012 Single family non-owner occupied 514 1,115 992 2,621 137,476 140,097 Non-farm, non-residential 1,332 540 2,398 4,270 609,607 613,877 Agricultural 109 - - 109 8,436 8,545 Farmland 640 - 392 1,032 17,873 18,905 Consumer real estate loans Home equity lines 408 209 334 951 92,515 93,466 Single family owner occupied 5,006 3,495 4,445 12,946 498,017 510,963 Owner occupied construction - - - - 18,171 18,171 Consumer and other loans Consumer loans 507 200 59 766 70,786 71,552 Other - - - - 5,310 5,310 Total non-covered loans 9,046 5,559 10,563 25,168 1,731,101 1,756,269 Covered loans Commercial loans Construction, development, and other land - - - - 35 35 Single family non-owner occupied 15 - - 15 223 238 Non-farm, non-residential - - - - 6 6 Consumer real estate loans Home equity lines 176 38 91 305 14,979 15,284 Single family owner occupied 166 - - 166 3,086 3,252 Total covered loans 357 38 91 486 18,329 18,815 Total loans $ 9,403 $ 5,597 $ 10,654 $ 25,654 $ 1,749,430 $ 1,775,084 |
Trouble Debt Restructuring Accrual Status [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Nonaccrual (1) Accruing Total Nonaccrual (1) Accruing Total Commercial loans Single family non-owner occupied $ 552 $ 595 $ 1,147 $ 640 $ 309 $ 949 Non-farm, non-residential - 307 307 - 314 314 Consumer real estate loans Home equity lines - 115 115 - 127 127 Single family owner occupied 1,790 5,305 7,095 1,941 5,417 7,358 Owner occupied construction - 221 221 - 225 225 Consumer and other loans Consumer loans - 32 32 - 35 35 Total TDRs $ 2,342 $ 6,575 $ 8,917 $ 2,581 $ 6,427 $ 9,008 Allowance for loan losses related to TDRs $ 353 $ 568 |
Interest Income Related to Troubled Debt Restructurings [Table Text Block] | Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Interest income recognized $ 277 $ 264 $ 222 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Year Ended December 31, 2019 2018 (Amounts in thousands) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment (1) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment (1) Below market interest rate Single family owner occupied - $ - $ - 1 $ 11 $ 11 Below market interest rate and extended payment term Single family owner occupied 6 887 871 1 41 41 Principal deferral Home equity 1 5 2 Single family owner occupied 3 331 279 - - - Total principal deferral 4 336 281 - - - Total 10 $ 1,223 $ 1,152 2 $ 52 $ 52 Year Ended December 31, 2019 2018 Total Recorded Total Recorded Contracts Investment Contracts Investment (Amounts in thousands) Single family owner occupied - $ - 1 $ 521 Total - $ - 1 $ 521 |
Other Real Estate Owned [Table Text Block] | December 31, 2019 December 31, 2018 (Amounts in thousands) Non-covered OREO $ 3,969 $ 3,806 Covered OREO - 32 Total OREO $ 3,969 $ 3,838 Non-covered OREO secured by residential real estate $ 2,232 $ 2,303 Residential real estate loans in the foreclosure process (1) 1,539 6,349 |
Note 6 - Allowance for Loan L_2
Note 6 - Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Year Ended December 31, 2019 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Beginning balance $ 10,499 $ 6,732 $ 1,036 $ 18,267 Provision for (Recovery of) loan losses charged to operations 1,411 (105 ) 2,265 3,571 Charge-offs (2,548 ) (1,790 ) (1,923 ) (6,261 ) Recoveries 873 1,488 487 2,848 Net charge-offs (1,675 ) (302 ) (1,436 ) (3,413 ) Ending balance $ 10,235 $ 6,325 $ 1,865 $ 18,425 Year Ended December 31, 2018 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Beginning balance $ 11,672 $ 6,810 $ 794 $ 19,276 (Recovery of) provision for loan losses charged to operations (660 ) 1,473 1,580 2,393 Charge-offs (1,236 ) (2,005 ) (1,666 ) (4,907 ) Recoveries 723 454 328 1,505 Net charge-offs (513 ) (1,551 ) (1,338 ) (3,402 ) Ending balance $ 10,499 $ 6,732 $ 1,036 $ 18,267 |
Allowance for Credit Losses and Recorded Investment in Loans by Segment and Class [Table Text Block] | December 31, 2019 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 30,334 $ 245 Commercial and industrial - - 95,659 699 Multi-family residential 944 - 98,201 969 Single family non-owner occupied - - 128,520 1,323 Non-farm, non-residential 2,575 292 591,520 6,361 Agricultural - - 9,458 145 Farmland - 16,146 201 Total commercial loans 3,519 292 969,838 9,943 Consumer real estate loans Home equity lines - - 91,999 673 Single family owner occupied 3,016 353 490,712 5,175 Owner occupied construction - - 16,144 124 Total consumer real estate loans 3,016 353 598,855 5,972 Consumer and other loans Consumer loans - - 99,199 1,865 Other - - 4,742 - Total consumer and other loans - - 103,941 1,865 Total loans, excluding PCI loans $ 6,535 $ 645 $ 1,672,634 $ 17,780 December 31, 2018 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 63,039 $ 417 Commercial and industrial - - 104,863 663 Multi-family residential 534 230 106,478 962 Single family non-owner occupied - - 138,451 1,442 Non-farm, non-residential 1,403 235 608,537 6,295 Agricultural - - 8,545 85 Farmland 513 - 18,392 170 Total commercial loans 2,450 465 1,048,305 10,034 Consumer real estate loans Home equity lines 65 65 103,668 683 Single family owner occupied 3,631 922 509,929 4,931 Owner occupied construction 1,596 - 16,575 131 Total consumer real estate loans 5,292 987 630,172 5,745 Consumer and other loans Consumer loans - - 71,552 1,036 Other - - 5,310 - Total consumer and other loans - - 76,862 1,036 Total loans, excluding PCI loans $ 7,742 $ 1,452 $ 1,755,339 $ 16,815 |
Schedule of Information Related to Purchased Credit Impaired Loans [Table Text Block] | December 31, 2019 December 31, 2018 (Amounts in thousands) Recorded Investment Allowance for Loan Pools With Impairment Recorded Investment Allowance for Loan Pools With Impairment Commercial loans Waccamaw commercial $ - $ - $ - $ - Peoples commercial 4,371 - 4,405 - Highlands: 1-4 family, senior-commercial 4,564 - - - Construction & land development 1,956 - - - Farmland and other agricultural 3,722 - - - Multifamily 1,663 - - - Commercial real estate-owner occupied 13,024 - - - Commercial real estate- non-owner occupied 8,686 - - - Commercial and industrial 2,829 - - - Other 352 - 868 - Total commercial loans 41,167 - 5,273 - Consumer real estate loans Waccamaw serviced home equity lines 2,121 - 5,017 - Waccamaw residential 587 - 788 - Highlands: - - - - 1-4 family, junior and HELOCS 2,157 - - - 1-4 family, senior-consumer 13,174 - - - Consumer 1,341 - - - Peoples residential 700 - 925 - Total consumer real estate loans 20,080 - 6,730 - Total PCI loans $ 61,247 $ - $ 12,003 $ - |
Note 7 - FDIC Indemnification_2
Note 7 - FDIC Indemnification Asset (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
FDIC Indemnification Asset Roll Forward [Table Text Block] | Year Ended December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 5,108 $ 7,161 Reimbursable expenses to the FDIC - (23 ) Net amortization (2,377 ) (2,181 ) Payments to the FDIC 152 151 Ending balance $ 2,883 $ 5,108 Covered loans $ 12,861 $ 18,815 Covered OREO - 32 |
Note 8 - Premises, Equipment,_2
Note 8 - Premises, Equipment, and Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Land $ 22,899 $ 18,090 Buildings and leasehold improvements 52,351 45,079 Equipment 38,173 33,551 Total premises and equipment 113,423 96,720 Accumulated depreciation and amortization (50,599 ) (50,935 ) Total premises and equipment, net $ 62,824 $ 45,785 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Amount (Amounts in thousands) 2020 $ 154 2021 154 2022 131 2023 119 2024 and thereafter 580 Total lease payments 1,138 Less: Interest (129 ) Present value of lease liabilities $ 1,009 |
Note 9 - Goodwill and Other I_2
Note 9 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | (Amounts in thousands) Balance January 1, 2017 $ 95,779 Acquisitions and dispositions, net - Balance December 31, 2017 $ 95,779 Balance January 1, 2018 $ 95,779 Acquisitions and dispositions, net (1,543 ) Impairment charges (1,492 ) Balance December 31, 2018 $ 92,744 Balance January 1, 2019 $ 92,744 Acquisitions and dispositions, net 36,821 Balance December 31, 2019 $ 129,565 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2019 2018 2017 (Amounts in thousands) Core deposit intangibles $ 8,184 $ 8,184 $ 8,184 Acquisitions and dispositions, net 4,490 - - Accumulated amortization (4,155 ) (3,158 ) (2,161 ) Core deposit intangibles, net 8,519 5,026 6,023 Other identifiable intangibles - 535 879 Accumulated amortization - (535 ) (751 ) Other identifiable intangibles, net - - 128 Total other intangible assets, net $ 8,519 $ 5,026 $ 6,151 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (Amounts in thousands) 2020 $ 1,446 2021 1,446 2022 1,446 2023 880 2024 856 2025 and thereafter 2,445 Total estimated amortization expense $ 8,519 |
Note 10 - Deposits (Tables)
Note 10 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Noninterest-bearing demand deposits $ 627,868 $ 459,550 Interest-bearing deposits Interest-bearing demand deposits 497,470 451,721 Money market accounts 235,712 153,483 Savings deposits 453,240 345,335 Certificates of deposit 372,821 330,757 Individual retirement accounts 142,801 114,904 Total interest-bearing deposits 1,702,044 1,396,200 Total deposits $ 2,329,912 $ 1,855,750 |
Time Deposit Maturities [Table Text Block] | (Amounts in thousands) 2020 $ 282,220 2021 106,927 2022 62,436 2023 33,579 2024 23,622 2025 and thereafter 6,838 Total contractual maturities $ 515,622 |
Scheduled Maturities of Certificates of Deposits, Greater than 250,000 [Table Text Block] | (Amounts in thousands) Three months or less $ 13,832 Over three through six months 7,867 Over six through twelve months 11,764 Over twelve months 20,031 Total contractual maturities $ 53,494 |
Note 11 - Borrowings (Tables)
Note 11 - Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Balance Weighted Average Rate Balance Weighted Average Rate Short-term borrowings Retail repurchase agreements $ 1,601 0.14 % $ 4,370 0.12 % Long-term borrowings Wholesale repurchase agreements - 25,000 3.18 % Total borrowings $ 1,601 $ 29,370 |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | Overnight and Continuous Up to 30 Days 30 - 90 Days Greater than 90 Days Total (Amounts in thousands) U.S. Agency securities $ - $ - $ - $ - $ - Municipal securities 871 - - - 871 Mortgage-backed Agency securities 730 - - - 730 Total $ 1,601 $ - $ - $ - $ 1,601 |
Note 12 - Derivative Instrume_2
Note 12 - Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Notional or Contractual Amount Derivative Assets Derivative Liabilities Notional or Contractual Amount Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps $ 17,432 $ - $ 510 $ 5,483 $ 12 $ - Total derivatives $ 17,432 $ - $ 510 $ 5,483 $ 12 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Income Statement Location Derivatives designated as hedges Interest rate swaps $ 12 $ 40 $ 78 Interest and fees on loans Total derivative expense $ 12 $ 40 $ 78 |
Note 13 - Employee Benefit Pl_2
Note 13 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Net Funded Status [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 9,265 $ 9,635 Plan change 262 - Service cost 320 245 Interest cost 404 358 Actuarial loss (gain) 1,570 (565 ) Benefits paid (509 ) (408 ) Ending balance $ 11,312 $ 9,265 |
Schedule of Net Benefit Costs [Table Text Block] | Year Ended December 31, 2019 2018 2017 Income Statement Location (Amounts in thousands) Service cost $ 320 $ 245 $ 231 Salaries and employee benefits Interest cost 404 358 372 Other expense Amortization of prior service cost 257 228 228 Other expense Amortization of losses 20 57 31 Other expense Net periodic cost $ 1,001 $ 888 $ 862 Assumed discount rate 3.10 % 4.28 % 3.85 % |
Schedule of Expected Benefit Payments [Table Text Block] | (Amounts in thousands) 2020 $ 590 2021 648 2022 652 2023 651 2024 679 2025 through 2029 3,520 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Pre-tax compensation expense $ 1,481 $ 1,158 $ 790 Excess tax benefit - 95 17 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Option Weighted Average Exercise Price Weighted Average Remaining Contractual Aggregate Intrinsic (Amounts in thousands, except share and per share data) Shares Per Share Term (Years) Value Outstanding, January 1, 2019 156,255 $ 20.85 Granted - - Exercised (8,459 ) 16.14 Canceled (596 ) 24.72 Outstanding, December 31, 2019 147,200 $ 21.10 4.6 $ 1,460 Exercisable, December 31, 2019 126,699 $ 20.52 4.2 $ 1,331 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted Average Shares Grant-Date Fair Value Nonvested, January 1, 2019 51,113 $ 27.37 Granted 50,521 34.22 Vested (43,784 ) 29.26 Canceled (197 ) 32.76 Nonvested, December 31, 2019 57,653 $ 31.93 |
Note 14 - Other Operating Inc_2
Note 14 - Other Operating Income and Expense (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Other operating income Bank owned life insurance $ 916 $ 687 $ 1,365 Other (1) 1,888 1,861 2,137 Total other operating income $ 2,804 $ 2,548 $ 3,502 Other operating expense OREO expense and net loss 1,494 1,549 1,202 Telephone and data communications 1,404 1,333 1,554 Office supplies 647 1,045 1,171 Other (1) 8,384 8,800 7,914 Total other operating expense $ 11,929 $ 12,727 $ 11,841 |
Note 15 - Income Taxes (Tables)
Note 15 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Current tax expense (benefit): Federal $ 9,603 $ 7,201 $ 14,509 State 1,554 1,233 926 Total current tax expense 11,157 8,434 15,435 Deferred tax expense (benefit): Federal (152 ) 296 5,205 State (11 ) 52 (12 ) Total deferred tax expense (benefit) (163 ) 348 5,193 Total income tax expense $ 10,994 $ 8,782 $ 20,628 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2019 2018 2017 Amount Percent Amount Percent Amount Percent (Amounts in thousands) Federal income tax at the statutory rate $ 10,457 21.00 % $ 9,475 21.00 % $ 14,739 35.00 % State income tax, net of federal benefit 1,220 3.12 % 1,016 2.25 % 692 1.64 % 11,677 24.12 % 10,491 23.25 % 15,431 36.64 % Increase (decrease) resulting from: Tax-exempt interest income (637 ) (1.28 )% (702 ) -1.56 % (1,228 ) -2.92 % Nondeductible goodwill impairment and disposition - 0.00 % 569 1.26 % - 0.00 % Bank owned life insurance (249 ) (0.50 )% (144 ) -0.32 % (478 ) -1.13 % Deferred tax revaluation (98 ) (0.20 )% (1,669 ) -3.70 % 6,552 15.56 % Other items, net 301 0.10 % 237 0.53 % 351 0.83 % Income tax at the effective tax rate $ 10,994 22.24 % $ 8,782 19.46 % $ 20,628 48.98 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (Amounts in thousands) 2019 2018 Deferred tax assets Allowance for loan losses $ 4,312 $ 4,275 Unrealized losses on available-for-sale securities - 87 Unrealized asset losses 540 730 Purchase accounting 3,689 24 FDIC assisted transactions 1,597 1,510 Intangible assets 745 2,430 Deferred compensation assets 4,079 3,468 Federal net operating loss carryforward 4,279 - Deferred loan fees 1,247 1,201 Other 1,746 491 Total deferred tax assets 22,234 14,216 Deferred tax liabilities FDIC indemnification asset 675 1,195 Fixed assets 1,080 1,381 Odd days interest deferral 1,912 1,614 Unrealized gains on available for sale securities 230 - Other 399 460 Total deferred tax liabilities 4,296 4,650 Net deferred tax asset $ 17,938 $ 9,566 |
Note 16 - Accumulated Other C_2
Note 16 - Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Balance January 1, 2017 $ (544 ) $ (1,467 ) $ (2,011 ) Other comprehensive income (loss) before reclassifications 972 (132 ) 840 Reclassified from AOCI 413 162 575 Other comprehensive income, net 1,385 30 1,415 Reclassification of certain tax effects 134 (378 ) (244 ) Balance December 31, 2017 $ 975 $ (1,815 ) $ (840 ) Balance January 1, 2018 $ 975 $ (1,815 ) $ (840 ) Other comprehensive (loss) income before reclassifications (1,748 ) 446 (1,302 ) Reclassified from AOCI 488 225 713 Other comprehensive (loss) income, net (1,260 ) 671 (589 ) Balance December 31, 2018 $ (285 ) $ (1,144 ) $ (1,429 ) Balance January 1, 2019 $ (285 ) $ (1,144 ) $ (1,429 ) Other comprehensive income (loss) before reclassifications 1,117 (1,448 ) (331 ) Reclassified from AOCI 34 220 254 Other comprehensive income (loss), net 1,151 (1,228 ) (77 ) Balance December 31, 2019 $ 866 $ (2,372 ) $ (1,506 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Year Ended December 31, Income Statement (Amounts in thousands) 2019 2018 2017 Line Item Affected Available-for-sale securities Losses recognized $ 43 $ 618 $ 661 Net loss on sale of securities Reclassified out of AOCI, before tax 43 618 661 Income before income taxes Income tax benefit (9 ) (130 ) (248 ) Income tax expense Reclassified out of AOCI, net of tax 34 488 413 Net income Employee benefit plans Amortization of prior service cost 257 228 228 Other operating expense Amortization of net actuarial loss 21 57 31 Other operating expense Reclassified out of AOCI, before tax 278 285 259 Income before income taxes Income tax expense (58 ) (60 ) (97 ) Income tax expense Reclassified out of AOCI, net of tax 220 225 162 Net income Total reclassified out of AOCI, net of tax $ 254 $ 713 $ 575 Net income |
Note 17 - Fair Value (Tables)
Note 17 - Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 2019 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 5,034 $ - $ 5,034 $ - Municipal securities 86,878 - 86,878 - Mortgage-backed Agency securities 77,662 - 77,662 - Total available-for-sale debt securities 169,574 - 169,574 - Equity securities 55 55 - - Fair value loans 10,358 - - 10,358 Deferred compensation assets 3,990 3,990 - - Deferred compensation liabilities 3,990 3,990 - - Derivative liabilities 510 - 510 - December 31, 2018 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 1,113 $ - $ 1,113 $ - U.S. Treasury securities 19,960 - 19,960 - Municipal securities 97,289 - 97,289 - Mortgage-backed Agency securities 34,754 - 34,754 - Total available-for-sale debt securities 153,116 - 153,116 - Equity securities 55 55 - - Fair value loans 5,412 - - 5,412 Deferred compensation assets 3,527 3,527 - - Derivative assets 12 - 12 - Deferred compensation liabilities 3,527 3,527 - - |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Assets (Amounts in thousands) Balance January 1, 2018 $ - Transfer of certain loans into Level 3 5,739 Changes in fair value 1 Changes due to principal reduction (328 ) Balance December 31, 2018 $ 5,412 Balance January 1, 2019 $ 5,412 Transfer of certain loans into Level 3 (Highlands acquisition) 5,439 Changes in fair value (230 ) Changes due to principal reduction (263 ) Balance December 31, 2019 $ 10,358 |
Fair Value Measurements, Nonrecurring [Table Text Block] | December 31, 2019 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 1,828 $ - $ - $ 1,828 OREO, non-covered 3,969 - - 3,969 December 31, 2018 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 3,618 $ - $ - $ 3,618 OREO, non-covered 3,806 - - 3,806 OREO, covered 32 - - 32 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Valuation Unobservable Discount Range (Weighted Average) Technique Input December 31, 2019 December 31, 2018 Impaired loans, non-covered Discounted appraisals (1) Appraisal adjustments (2) 22% to 36% (26%) 15% to 100% (29%) OREO, non-covered Discounted appraisals (1) Appraisal adjustments (2) 15% to 100% (8%) 1% to 81% (31%) OREO, covered Discounted appraisals (1) Appraisal adjustments (2) N/A 49% to 49% (49%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2019 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 217,009 $ 217,009 $ 217,009 $ - $ - Debt securities available for sale 169,574 169,574 - 169,574 - Equity securities 55 55 55 - - Loans held for sale 263 263 263 Loans held for investment, net of allowance 2,096,035 2,068,257 - - 2,068,257 FDIC indemnification asset 2,883 1,201 - - 1,201 Interest receivable 6,677 6,677 - 6,677 - Deferred compensation assets 3,990 3,990 3,990 - - Liabilities Time deposits 515,622 512,134 - 512,134 - Securities sold under agreements to repurchase 1,601 1,601 - 1,601 - Interest payable 472 472 - 472 - Deferred compensation liabilities 3,990 3,990 3,990 - - Derivative liabilities 510 510 - 510 - December 31, 2018 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 76,873 $ 76,873 $ 76,873 $ - $ - Debt securities available for sale 153,116 153,116 - 153,116 - Debt securities held to maturity 25,013 24,990 - 24,990 - Equity securities 55 55 55 - - Loans held for investment, net of allowance 1,756,817 1,720,114 - - 1,720,114 FDIC indemnification asset 5,108 2,565 - - 2,565 Interest receivable 5,481 5,481 - 5,481 - Derivative financial assets 12 12 - 12 - Deferred compensation assets 3,527 3,527 3,527 - - Liabilities Time deposits 445,661 436,018 - 436,018 - Securities sold under agreements to repurchase 29,370 29,389 - 29,389 - Interest payable 618 618 - 618 - Deferred compensation liabilities 3,527 3,527 3,527 - - |
Note 18 - Earnings Per Share (T
Note 18 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2019 2018 2017 (Amounts in thousands, except share and per share data) Net income $ 38,802 $ 36,340 $ 21,485 Weighted average common shares outstanding, basic 15,690,812 16,587,504 17,002,116 Dilutive effect of potential common shares Stock options 53,907 62,417 52,205 Restricted stock 11,374 16,464 23,521 Total dilutive effect of potential common shares 65,281 78,881 75,726 Weighted average common shares outstanding, diluted 15,756,093 16,666,385 17,077,842 Basic earnings per common share $ 2.47 $ 2.19 $ 1.26 Diluted earnings per common share 2.46 2.18 1.26 Antidilutive potential common shares Stock options 25 19 64,081 Restricted stock 25,853 2,736 3,620 Total potential antidilutive shares 25,878 2,755 67,701 |
Note 19 - Related Party Trans_2
Note 19 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 22,033 $ 19,337 New loans and advances 3,958 7,142 Loan repayments (5,634 ) (4,676 ) Reclassifications (1) (12 ) 230 Ending balance $ 20,345 $ 22,033 |
Note 20 - Litigation, Commitm_2
Note 20 - Litigation, Commitments, and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | December 31, 2019 2018 (Amounts in thousands) Commitments to extend credit $ 228,716 $ 215,239 Standby letters of credit and financial guarantees (1) 167,612 149,494 Total off-balance sheet risk 396,328 364,733 Reserve for unfunded commitments $ 66 $ 66 |
Note 21 - Regulatory Requirem_2
Note 21 - Regulatory Requirements and Restrictions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | December 31, 2019 Actual Minimum Basel III Requirement Minimum Basel III Requirement - with CCB Well Capitalized Requirement (1) (Amounts in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio The Company Common equity Tier 1 ratio $ 292,241 14.31 % $ 91,926 4.50 % $ 142,996 7.00 % N/A N/A Tier 1 risk-based capital ratio 292,241 14.31 % 122,568 6.00 % 173,637 8.50 % N/A N/A Total risk-based capital ratio 310,732 15.21 % 163,423 8.00 % 214,493 10.50 % N/A N/A Tier 1 Leverage ratio 292,241 14.01 % 83,408 4.00 % N/A N/A N/A N/A The Bank Common equity Tier 1 ratio $ 262,716 12.87 % $ 91,860 4.50 % $ 142,893 7.00 % $ 132,686 6.50 % Tier 1 risk-based capital ratio 262,716 12.87 % 122,480 6.00 % 173,513 8.50 % 163,306 8.00 % Total risk-based capital ratio 281,207 13.78 % 163,306 8.00 % 214,339 10.50 % 204,133 10.00 % Tier 1 Leverage ratio 262,716 12.61 % 83,313 4.00 % N/A N/A 104,141 5.00 % December 31, 2018 Actual Minimum Basel III Requirement Minimum Basel III Requirement - with CCB Well Capitalized Requirement (1) (Amounts in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio The Company Common equity Tier 1 ratio $ 236,544 13.72 % $ 77,570 4.50 % $ 120,664 6.375 % N/A N/A Tier 1 risk-based capital ratio 236,544 13.72 % 103,427 6.00 % 146,521 7.875 % N/A N/A Total risk-based capital ratio 254,877 14.79 % 137,902 8.00 % 180,997 9.875 % N/A N/A Tier 1 Leverage ratio 236,544 10.95 % 86,439 4.00 % N/A N/A N/A N/A The Bank Common equity Tier 1 ratio $ 215,424 12.55 % $ 77,223 4.50 % $ 120,124 6.375 % $ 111,544 6.50 % Tier 1 risk-based capital ratio 215,424 12.55 % 102,964 6.00 % 145,865 7.875 % 137,285 8.00 % Total risk-based capital ratio 233,757 13.62 % 137,285 8.00 % 180,186 9.875 % 171,606 10.00 % Tier 1 Leverage ratio 215,424 9.98 % 86,376 4.00 % N/A N/A 107,970 5.00 % |
Note 22 - Parent Company Fina_2
Note 22 - Parent Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | CONDENSED BALANCE SHEETS December 31, (Amounts in thousands) 2019 2018 Assets Cash and due from banks $ 23,998 $ 13,726 Loans to affiliates 184 184 Investment in subsidiaries 399,294 311,736 Other assets 5,888 7,717 Total assets $ 429,364 $ 333,363 Liabilities Other liabilities $ 545 $ 506 Total liabilities 545 506 Stockholders' equity Preferred stock - - Common stock 18,377 16,007 Additional paid-in capital 192,413 122,486 Retained earnings 219,535 195,793 Accumulated other comprehensive loss (1,506 ) (1,429 ) Total stockholders' equity 428,819 332,857 Total liabilities and stockholders' equity $ 429,364 $ 333,363 |
Condensed Income Statement [Table Text Block] | CONDENSED STATEMENTS OF INCOME Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash dividends received from subsidiary bank $ 38,500 $ 48,000 $ 22,720 Other income 444 306 352 Other operating expense 1,420 2,293 2,044 Income before income taxes and equity in undistributed net income of subsidiaries 37,524 46,013 21,028 Income tax benefit (276 ) (595 ) (678 ) Income before equity in undistributed net income of subsidiaries 37,800 46,608 21,706 Equity in (dividends in excess) of undistributed net income of subsidiaries 1,002 (10,268 ) (221 ) Net income $ 38,802 $ 36,340 $ 21,485 |
Condensed Cash Flow Statement [Table Text Block] | CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, (Amounts in thousands) 2019 2018 2017 Operating activities Net income $ 38,802 $ 36,340 $ 21,485 Adjustments to reconcile net income to net cash provided by operating activities Net change in other operating activities 1,865 1,509 656 Net cash provided by operating activities 40,667 37,849 22,141 Investing activities Dividends in excess of undistributed net income of subsidiaries (1,002 ) 10,268 221 Net cash provided by investing activities (1,002 ) 10,268 221 Financing activities Repayments of long-term debt - - (15,464 ) Proceeds from issuance of common stock 136 832 738 Payments for repurchase of common stock (16,362 ) (34,412 ) (1,263 ) Payments of common dividends (15,060 ) (21,090 ) (11,563 ) Net change in other financing activities 1,893 1,063 845 Net cash used in financing activities (29,393 ) (53,607 ) (26,707 ) Net increase (decrease) in cash and cash equivalents 10,272 (5,490 ) (4,345 ) Cash and cash equivalents at beginning of period 13,726 19,216 23,561 Cash and cash equivalents at end of period $ 23,998 $ 13,726 $ 19,216 |
Note 23 - Quarterly Financial_2
Note 23 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter (Amounts in thousands, except share and per share data) Interest income $ 23,611 $ 24,382 $ 23,605 $ 23,370 Interest expense 1,425 1,393 1,384 1,313 Net interest income 22,186 22,989 22,221 22,057 Provision for loan losses 1,220 1,585 675 91 Net interest income after provision 20,966 21,404 21,546 21,966 Noninterest income, excluding net loss on sale of securities 8,080 8,692 7,634 9,314 Net loss on sale of securities - (43 ) - - Noninterest expense 16,785 16,651 17,444 18,883 Income before income taxes 12,261 13,402 11,736 12,397 Income tax expense 2,630 2,951 2,580 2,833 Net income $ 9,631 $ 10,451 $ 9,156 $ 9,564 Basic earnings per common share $ 0.61 $ 0.67 $ 0.59 $ 0.61 Diluted earnings per common share 0.60 0.66 0.58 0.61 Dividends per common share 0.21 0.25 0.25 0.25 Weighted average basic shares outstanding 15,839,424 15,712,204 15,603,992 15,611,093 Weighted average diluted shares outstanding 15,920,950 15,775,320 15,664,587 15,670,047 Year Ended December 31, 2018 First Second Third Fourth Quarter Quarter Quarter Quarter (Amounts in thousands, except share and per share data) Interest income $ 24,330 $ 24,297 $ 24,286 $ 25,381 Interest expense 1,951 2,035 1,961 1,502 Net interest income 22,379 22,262 22,325 23,879 Provision for loan losses 495 495 495 908 Net interest income after provision 21,884 21,767 21,830 22,971 Noninterest income, excluding net loss on sale of securities 6,668 6,959 7,137 6,297 Net loss on sale of securities - - (618 ) - Noninterest expense 17,116 17,160 18,131 17,366 Income before income taxes 11,436 11,566 10,218 11,902 Income tax expense 2,568 2,500 1,118 2,596 Net income $ 8,868 $ 9,066 $ 9,100 $ 9,306 Basic earnings per common share $ 0.52 $ 0.54 $ 0.55 $ 0.58 Diluted earnings per common share 0.52 0.54 0.55 0.57 Dividends per common share 0.66 0.18 0.21 0.21 Weighted average basic shares outstanding 16,955,758 16,689,398 16,512,823 16,201,148 Weighted average diluted shares outstanding 17,047,638 16,788,615 16,612,416 16,280,404 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | |
Number of Operating Segments | 1 | ||
Minimum Principal Balance of Loans for Quarterly Rating Review | $ 500 | ||
Restructured Loans, Reserves | $ 250 | ||
Lessee, Operating Lease, Term of Contract | 10 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
Equipment, Computer Hardware and Software [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Equipment, Computer Hardware and Software [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Building and Building Improvements [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 7 years | ||
Building and Building Improvements [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Land Improvements [Member] | |||
Property, Plant and Equipment, Useful Life | 20 years | ||
Other Assets [Member] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 3,680 | $ 2,200 | |
Operating Lease, Right-of-Use Asset | 917,000 | ||
Other Assets [Member] | Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 915 | ||
Other Liabilities [Member] | |||
Operating Lease, Liability, Total | 1,009 | ||
Other Liabilities [Member] | Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability, Total | $ 915 | ||
Investment in Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock [Member] | |||
Investment Owned, at Cost | $ 8,900 | $ 7,780 |
Note 2 - Acquisitions and Div_3
Note 2 - Acquisitions and Divestitures (Details Textual) | Sep. 11, 2019USD ($) | Oct. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Business Combination, Acquisition Related Costs | $ 2,124,000 | |||||
Provision for Loan and Lease Losses, Total | 3,571,000 | 2,393,000 | ||||
Goodwill, Impairment Loss | $ 1,490,000 | $ 1,490,000 | 1,492,000 | |||
Highlands Bankshares, Inc. [Member] | ||||||
Business Combination, Stock Conversion Ratio | 0.2703 | |||||
Business Combination, Consideration Transferred, Total | $ 86,647,000 | |||||
Acquired Loan, Fair Value Adjustments | (14,700,000) | |||||
Deferred Loan Fees Excluded from Fair Value Adjustment of Acquired Loan | 3,270,000 | |||||
Death Benefits Payable, Fair Value Adjustment | 320,000 | |||||
Lease Liability, Fair Value Adjustment | (37,000) | |||||
Reserve for Unfunded Commitments, Fair Value Adjustment | $ (85,000) | |||||
Business Combination, Acquisition Related Costs | 2,120,000 | |||||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | 7,160,000 | |||||
Provision for Loan and Lease Losses, Total | $ 738,000 | $ 1,840,000 |
Note 2 - Acquisitions and Div_4
Note 2 - Acquisitions and Divestitures - Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands | Sep. 11, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill | $ 129,565 | $ 92,744 | ||
Highlands Bankshares, Inc. [Member] | ||||
Cash and cash equivalents | $ 25,879 | |||
Securities available for sale | 53,732 | |||
Loans held for sale | 263 | |||
Loans held for investment, net of allowance and mark | 427,467 | $ 427,467 | ||
Premises and equipment | 14,405 | |||
Other real estate | 1,963 | |||
Other assets | 27,806 | |||
Intangible assets | 4,490 | |||
Total assets | 556,005 | |||
Noninterest-bearing | 155,714 | |||
Interest-bearing | 347,289 | |||
Total deposits | 503,003 | |||
Long term debt | 40 | |||
Other liabilities | 3,136 | |||
Total liabilities | 506,179 | |||
Net identifiable assets acquired over (under) liabilities assumed | 49,826 | |||
Goodwill | 36,821 | |||
Net assets acquired over liabilities assumed | $ 86,647 | |||
First Community Bankshares, Inc. common (in shares) | 2,792,729 | |||
Purchase price per share of the Company's common stock (in dollars per share) | $ 31.02 | |||
Fair Value of Company common stock issued | $ 86,631 | |||
Cash paid for fractional shares | 16 | |||
Fair Value of total consideration transferred | 86,647 | |||
Highlands Bankshares, Inc. [Member] | Recorded by Acquiree [Member] | ||||
Cash and cash equivalents | 25,879 | |||
Securities available for sale | 53,732 | |||
Loans held for sale | 263 | |||
Loans held for investment, net of allowance and mark | 438,896 | |||
Premises and equipment | 16,722 | |||
Other real estate | 1,963 | |||
Other assets | 25,556 | |||
Intangible assets | ||||
Total assets | 563,011 | |||
Noninterest-bearing | 155,714 | |||
Interest-bearing | 346,028 | |||
Total deposits | 501,742 | |||
Long term debt | 40 | |||
Other liabilities | 2,938 | |||
Total liabilities | 504,720 | |||
Net identifiable assets acquired over (under) liabilities assumed | 58,291 | |||
Goodwill | ||||
Net assets acquired over liabilities assumed | 58,291 | |||
Highlands Bankshares, Inc. [Member] | Fair Value Adjustments [Member] | ||||
Cash and cash equivalents | ||||
Securities available for sale | ||||
Loans held for sale | ||||
Loans held for investment, net of allowance and mark | [1] | (11,429) | ||
Premises and equipment | [2] | (2,317) | ||
Other real estate | ||||
Other assets | [3] | 2,250 | ||
Intangible assets | [4] | 4,490 | ||
Total assets | (7,006) | |||
Noninterest-bearing | ||||
Interest-bearing | [5] | 1,261 | ||
Total deposits | 1,261 | |||
Long term debt | ||||
Other liabilities | [6] | 198 | ||
Total liabilities | 1,459 | |||
Net identifiable assets acquired over (under) liabilities assumed | (8,465) | |||
Goodwill | 36,821 | |||
Net assets acquired over liabilities assumed | $ 28,356 | |||
[1] | Adjustment reflects the fair value adjustments of $(14.70) million based on the Company's evaluation of the acquired loan portfolio and excludes the allowance for loan losses ("ALLL") and deferred loan fees of $3.27 million recorded by Highlands. | |||
[2] | Adjustment reflects the fair value adjustments based on the Company's evaluation of the acquired premises and equipment. | |||
[3] | Adjustment to record the deferred tax asset related to the fair value adjustments. | |||
[4] | Adjustment reflects the recording of the core deposit intangible on the acquired deposit accounts. | |||
[5] | Adjustment reflects the fair value adjustment based on the Company's evaluation of the time deposit portfolio. | |||
[6] | Adjustment reflects the fair value adjustment for death benefits payable of $320 thousand, the fair value adjustment for lease liability of $(37) thousand and the fair value adjustment to the reserve for unfunded commitments of $(85) thousand. |
Note 2 - Acquisitions and Div_5
Note 2 - Acquisitions and Divestitures - Acquired Loans (Details) - Highlands Bankshares, Inc. [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 11, 2019 |
Loans acquired at fair value | $ 427,467 | $ 427,467 |
Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 374,351 | |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 53,116 | |
Commercial Portfolio Segment [Member] | ||
Loans acquired at fair value | 260,144 | |
Commercial Portfolio Segment [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 223,700 | |
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 36,444 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Loans acquired at fair value | 17,719 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 15,763 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 1,956 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans acquired at fair value | 47,303 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 44,474 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 2,829 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans acquired at fair value | 22,695 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 21,032 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 1,663 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Loans acquired at fair value | 33,921 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 29,357 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 4,564 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Loans acquired at fair value | 129,199 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 107,489 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 21,710 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Loans acquired at fair value | 2,298 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 2,298 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Loans acquired at fair value | 7,009 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 3,287 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 3,722 | |
Consumer Real Estate Portfolio Segment [Member] | ||
Loans acquired at fair value | 156,495 | |
Consumer Real Estate Portfolio Segment [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 141,164 | |
Consumer Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 15,331 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Loans acquired at fair value | 25,811 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 23,654 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 2,157 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Loans acquired at fair value | 129,587 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 116,413 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | 13,174 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Loans acquired at fair value | 1,097 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 1,097 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Loans acquired at fair value | 10,828 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||
Loans acquired at fair value | 9,487 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans acquired at fair value | $ 1,341 |
Note 2 - Acquisitions and Div_6
Note 2 - Acquisitions and Divestitures Pro Forma Infomation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Total revenues (net interest income plus noninterest income) | $ 150,618 | $ 145,656 |
Net adjusted income available to the common shareholder | $ 43,463 | $ 42,470 |
Note 2 - Acquisitions and Div_7
Note 2 - Acquisitions and Divestitures - Divestitures (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Book value of assets sold | $ (1,685) | ||
Book value of liabilities sold | 37 | ||
Sales price in excess of net liabilities assumed | |||
Total sales price | (1,648) | ||
Cash sold | 35 | ||
Non-cash sales price | 1,603 | ||
Amount due remaining on books | |||
Net cash received in divestitures | $ (10) |
Note 3 - Debt Securities (Detai
Note 3 - Debt Securities (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | $ (27,769) | $ (716) | $ (67,919) | |
Number of Securities in Unrealized Loss Position | 17 | 90 | ||
Percentage of Combined Depreciation of Combined Reported Value of Aggregate Securities Portfolio | 0.10% | 0.74% | ||
Number of Securities in Unrealized Loss Position, Greater than or Equal to One Year | 10 | |||
Security Owned and Pledged as Collateral, Fair Value, Total | $ 27,870 | $ 38,250 | ||
Wholesale Repurchase Agreements [Member] | ||||
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | $ 25,000 |
Note 3 - Debt Securities - Secu
Note 3 - Debt Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, amortized cost | $ 168,478 | $ 153,477 |
Securities available for sale, unrealized gains | 1,266 | 931 |
Securities available for sale, unrealized losses | (170) | (1,292) |
Securities available for sale, fair value | 169,574 | 153,116 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, amortized cost | 5,038 | 1,108 |
Securities available for sale, unrealized gains | 5 | |
Securities available for sale, unrealized losses | (4) | |
Securities available for sale, fair value | 5,034 | 1,113 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, amortized cost | 85,992 | 96,886 |
Securities available for sale, unrealized gains | 886 | 912 |
Securities available for sale, unrealized losses | (509) | |
Securities available for sale, fair value | 86,878 | 97,289 |
US Treasury Securities [Member] | ||
Securities available for sale, amortized cost | 19,970 | |
Securities available for sale, unrealized gains | ||
Securities available for sale, unrealized losses | (10) | |
Securities available for sale, fair value | 19,960 | |
Mortgage-backed Agency Securities [Member] | ||
Securities available for sale, amortized cost | 77,448 | 35,513 |
Securities available for sale, unrealized gains | 380 | 14 |
Securities available for sale, unrealized losses | (166) | (773) |
Securities available for sale, fair value | $ 77,662 | 34,754 |
Single Issue Trust Preferred Securities [Member] | ||
Securities available for sale, amortized cost | ||
Securities available for sale, unrealized gains | ||
Securities available for sale, unrealized losses | ||
Securities available for sale, fair value |
Note 3 - Debt Securities - Se_2
Note 3 - Debt Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, due within one year, amortized cost | ||
Securities available for sale, due after one year but within five years, amortized cost | 28,739 | |
Securities available for sale, due after five years but within ten years, amortized cost | 50,882 | |
Securities available for sale, due after ten years, amortized cost | 11,409 | |
Securities available for sale, single maturity date, amortized cost | 91,030 | |
Securities available for sale, amortized cost | 168,478 | $ 153,477 |
Securities available for sale, due within one year, fair value | ||
Securities available for sale, due after one year but within five years, fair value | 29,049 | |
Securities available for sale, due after five years but within ten years, fair value | 51,454 | |
Securities available for sale, due after ten years, fair value | 11,409 | |
Securities available for sale, single maturity date, fair value | 91,912 | |
Securities available for sale | 169,574 | 153,116 |
One year or less | 25,013 | |
After one year through five years | ||
After five years through ten years | ||
After ten years | ||
Total amortized cost | 25,013 | |
One year or less | 24,990 | |
After one year through five years | ||
After five years through ten years | ||
After ten years | ||
Total fair value | 24,990 | |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, due within one year, amortized cost | ||
Securities available for sale, due after one year but within five years, amortized cost | ||
Securities available for sale, due after five years but within ten years, amortized cost | 1,941 | |
Securities available for sale, due after ten years, amortized cost | 3,097 | |
Securities available for sale, single maturity date, amortized cost | 5,038 | |
Securities available for sale, amortized cost | 5,038 | 1,108 |
Securities available for sale, due within one year, fair value | ||
Securities available for sale, due after one year but within five years, fair value | ||
Securities available for sale, due after five years but within ten years, fair value | 1,937 | |
Securities available for sale, due after ten years, fair value | 3,097 | |
Securities available for sale, single maturity date, fair value | 5,034 | |
Securities available for sale | 5,034 | 1,113 |
One year or less | 17,887 | |
After one year through five years | ||
After five years through ten years | ||
After ten years | ||
Total amortized cost | 17,887 | |
One year or less | 17,867 | |
After one year through five years | ||
After five years through ten years | ||
After ten years | ||
Total fair value | 17,867 | |
US Treasury Securities [Member] | ||
Securities available for sale, due within one year, amortized cost | ||
Securities available for sale, due after one year but within five years, amortized cost | ||
Securities available for sale, due after five years but within ten years, amortized cost | ||
Securities available for sale, due after ten years, amortized cost | ||
Securities available for sale, single maturity date, amortized cost | ||
Securities available for sale, amortized cost | 19,970 | |
Securities available for sale, due within one year, fair value | ||
Securities available for sale, due after one year but within five years, fair value | ||
Securities available for sale, due after five years but within ten years, fair value | ||
Securities available for sale, due after ten years, fair value | ||
Securities available for sale, single maturity date, fair value | ||
Securities available for sale | 19,960 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, due within one year, amortized cost | ||
Securities available for sale, due after one year but within five years, amortized cost | 28,739 | |
Securities available for sale, due after five years but within ten years, amortized cost | 48,941 | |
Securities available for sale, due after ten years, amortized cost | 8,312 | |
Securities available for sale, single maturity date, amortized cost | 85,992 | |
Securities available for sale, amortized cost | 85,992 | 96,886 |
Securities available for sale, due within one year, fair value | ||
Securities available for sale, due after one year but within five years, fair value | 29,049 | |
Securities available for sale, due after five years but within ten years, fair value | 49,517 | |
Securities available for sale, due after ten years, fair value | 8,312 | |
Securities available for sale, single maturity date, fair value | 86,878 | |
Securities available for sale | 86,878 | 97,289 |
Corporate Debt Securities [Member] | ||
One year or less | 7,126 | |
After one year through five years | ||
After five years through ten years | ||
After ten years | ||
Total amortized cost | 7,126 | |
One year or less | 7,123 | |
After one year through five years | ||
After five years through ten years | ||
After ten years | ||
Total fair value | $ 7,123 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, no single maturity date, amortized cost | 77,448 | |
Securities available for sale, no single maturity date, fair value | $ 77,662 |
Note 3 - Debt Securities - Se_3
Note 3 - Debt Securities - Securities Held to Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities held to maturity, amortized cost | $ 25,013 | |
Securities held to maturity, unrealized gains | ||
Securities held to maturity, unrealized losses | (23) | |
Securities held to maturity, fair value | 24,990 | |
US Government Agencies Debt Securities [Member] | ||
Securities held to maturity, amortized cost | 17,887 | |
Securities held to maturity, unrealized gains | ||
Securities held to maturity, unrealized losses | (20) | |
Securities held to maturity, fair value | 17,867 | |
Corporate Debt Securities [Member] | ||
Securities held to maturity, amortized cost | 7,126 | |
Securities held to maturity, unrealized gains | ||
Securities held to maturity, unrealized losses | (3) | |
Securities held to maturity, fair value | $ 7,123 |
Note 3 - Debt Securities - Avai
Note 3 - Debt Securities - Available For Sale Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, less than 12 months, fair value | $ 8,995 | $ 42,838 |
Securities available for sale, less than 12 months, unrealized losses | (52) | (171) |
Securities available for sale, 12 months or longer, fair value | 8,319 | 33,425 |
Securities available for sale, 12 months or longer, unrealized losses | (118) | (1,121) |
Securities available for sale, total fair value | 17,314 | 76,263 |
Securities available for sale, total unrealized losses | (170) | (1,292) |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 975 | |
Securities available for sale, less than 12 months, unrealized losses | (4) | |
Securities available for sale, 12 months or longer, fair value | ||
Securities available for sale, 12 months or longer, unrealized losses | ||
Securities available for sale, total fair value | 975 | |
Securities available for sale, total unrealized losses | (4) | |
US Treasury Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 19,960 | |
Securities available for sale, less than 12 months, unrealized losses | (10) | |
Securities available for sale, 12 months or longer, fair value | ||
Securities available for sale, 12 months or longer, unrealized losses | ||
Securities available for sale, total fair value | 19,960 | |
Securities available for sale, total unrealized losses | (10) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 7,116 | |
Securities available for sale, less than 12 months, unrealized losses | (62) | |
Securities available for sale, 12 months or longer, fair value | 18,081 | |
Securities available for sale, 12 months or longer, unrealized losses | (447) | |
Securities available for sale, total fair value | 25,197 | |
Securities available for sale, total unrealized losses | (509) | |
Mortgage-backed Agency Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 8,020 | 15,762 |
Securities available for sale, less than 12 months, unrealized losses | (48) | (99) |
Securities available for sale, 12 months or longer, fair value | 8,319 | 15,344 |
Securities available for sale, 12 months or longer, unrealized losses | (118) | (674) |
Securities available for sale, total fair value | 16,339 | 31,106 |
Securities available for sale, total unrealized losses | $ (166) | $ (773) |
Note 3 - Debt Securities - Held
Note 3 - Debt Securities - Held to Maturity Securities in Continuous Unrealized Loss Position (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Securities held to maturity, less than 12 months fair value | |
Securities held to maturity, less than 12 months unrealized losses | |
Securities held to maturity, 12 months or longer fair value | 24,990 |
Securities held to maturity, 12 months or longer unrealized losses | (23) |
Securities held to maturity, total fair value | 24,990 |
Securities held to maturity, unrealized losses | (23) |
US Government Agencies Debt Securities [Member] | |
Securities held to maturity, less than 12 months fair value | |
Securities held to maturity, less than 12 months unrealized losses | |
Securities held to maturity, 12 months or longer fair value | 17,867 |
Securities held to maturity, 12 months or longer unrealized losses | (20) |
Securities held to maturity, total fair value | 17,867 |
Securities held to maturity, unrealized losses | (20) |
Corporate Debt Securities [Member] | |
Securities held to maturity, less than 12 months fair value | |
Securities held to maturity, less than 12 months unrealized losses | |
Securities held to maturity, 12 months or longer fair value | 7,123 |
Securities held to maturity, 12 months or longer unrealized losses | (3) |
Securities held to maturity, total fair value | 7,123 |
Securities held to maturity, unrealized losses | $ (3) |
Note 3 - Debt Securities - Gros
Note 3 - Debt Securities - Gross Realized Gains and Losses from Sale of Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Gross realized gains | $ 67 | ||
Gross realized losses | (110) | (618) | (661) |
Net loss on sale of securities | $ (43) | $ (618) | $ (661) |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Bank Overdrafts | $ 2,200 | $ 1,790 |
Deferred Loan Fees | 4,600 | $ 4,600 |
Highlands Bankshares, Inc. [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Ending Balance | 8,150 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 53,120 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 76,450 |
Note 4 - Loans - Loans by Class
Note 4 - Loans - Loans by Class (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Non-covered loans | $ 2,101,599 | $ 1,756,269 |
Non-covered loans, percent | 99.39% | 98.94% |
Covered loans | $ 12,861 | $ 18,815 |
Covered loans, percent | 0.61% | 1.06% |
Total loans held for investment, net of unearned income | $ 2,114,460 | $ 1,775,084 |
Total loans held for investment, net of unearned income, percent | 100.00% | 100.00% |
Loans held for Sale | $ 263 | |
Commercial Portfolio Segment [Member] | ||
Non-covered loans | $ 1,238,814 | $ 1,056,807 |
Non-covered loans, percent | 58.59% | 59.54% |
Covered loans | $ 230 | $ 279 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | $ 48,659 | $ 63,508 |
Non-covered loans, percent | 2.30% | 3.58% |
Covered loans | $ 28 | $ 35 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | $ 142,962 | $ 104,863 |
Non-covered loans, percent | 6.76% | 5.91% |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | $ 121,840 | $ 107,012 |
Non-covered loans, percent | 5.76% | 6.03% |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | $ 163,181 | $ 140,097 |
Non-covered loans, percent | 7.72% | 7.89% |
Covered loans | $ 199 | $ 238 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | $ 727,261 | $ 613,877 |
Non-covered loans, percent | 34.39% | 34.58% |
Covered loans | $ 3 | $ 6 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | $ 11,756 | $ 8,545 |
Non-covered loans, percent | 0.56% | 0.48% |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | $ 23,155 | $ 18,905 |
Non-covered loans, percent | 1.10% | 1.07% |
Consumer Real Estate Portfolio Segment [Member] | ||
Non-covered loans | $ 748,016 | $ 622,600 |
Non-covered loans, percent | 35.38% | 35.07% |
Covered loans | $ 12,631 | $ 18,536 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | $ 110,078 | $ 93,466 |
Non-covered loans, percent | 5.21% | 5.27% |
Covered loans | $ 9,853 | $ 15,284 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | $ 620,697 | $ 510,963 |
Non-covered loans, percent | 29.35% | 28.78% |
Covered loans | $ 2,778 | $ 3,252 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | $ 17,241 | $ 18,171 |
Non-covered loans, percent | 0.82% | 1.02% |
Consumer and Other Portfolio Segment [Member] | ||
Non-covered loans | $ 114,769 | $ 76,862 |
Non-covered loans, percent | 5.42% | 4.33% |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | $ 110,027 | $ 71,552 |
Non-covered loans, percent | 5.20% | 4.03% |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans | $ 4,742 | $ 5,310 |
Non-covered loans, percent | 0.22% | 0.30% |
Note 4 - Loans - Covered Loans
Note 4 - Loans - Covered Loans by Class (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Covered loans | $ 12,861 | $ 18,815 |
Commercial Portfolio Segment [Member] | ||
Covered loans | 230 | 279 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Covered loans | 28 | 35 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Covered loans | 199 | 238 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Covered loans | 3 | 6 |
Consumer Real Estate Portfolio Segment [Member] | ||
Covered loans | 12,631 | 18,536 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Covered loans | 9,853 | 15,284 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Covered loans | $ 2,778 | $ 3,252 |
Note 4 - Loans - PCI loans (Det
Note 4 - Loans - PCI loans (Details) - Financial Asset Acquired with Credit Deterioration [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
PCI loans, recorded investment | $ 61,247 | $ 12,003 |
PCI loans, unpaid principal balance | 85,182 | 27,768 |
Peoples Bank of Virginia [Member] | ||
PCI loans, recorded investment | 5,071 | 5,330 |
PCI loans, unpaid principal balance | 6,431 | 7,272 |
Waccamaw Bank [Member] | ||
PCI loans, recorded investment | 2,708 | 5,805 |
PCI loans, unpaid principal balance | 14,277 | 19,602 |
Highlands [Member] | ||
PCI loans, recorded investment | 53,116 | |
PCI loans, unpaid principal balance | 64,096 | |
Other Receivables [Member] | ||
PCI loans, recorded investment | 352 | 868 |
PCI loans, unpaid principal balance | $ 378 | $ 894 |
Note 4 - Loans - Activity in Ac
Note 4 - Loans - Activity in Accretable Yield on PCI loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Peoples Bank of Virginia [Member] | ||||
Beginning balance | $ 2,590 | $ 3,388 | $ 4,392 | |
Accretion | (950) | (1,263) | (1,379) | |
Reclassifications from nonaccretable difference(1) | [1] | 17 | 8 | 825 |
Other changes, net | 233 | 457 | (450) | |
Ending balance | 1,890 | 2,590 | 3,388 | |
Waccamaw Bank [Member] | ||||
Beginning balance | 14,639 | 19,465 | 21,834 | |
Accretion | (3,317) | (6,269) | (5,664) | |
Reclassifications from nonaccretable difference(1) | [1] | 1,440 | 1,770 | 3,378 |
Other changes, net | (188) | (327) | (83) | |
Ending balance | 12,574 | 14,639 | 19,465 | |
Others [Member] | ||||
Beginning balance | 17,229 | 22,853 | 26,226 | |
Accretion | (4,267) | (7,532) | (7,043) | |
Reclassifications from nonaccretable difference(1) | [1] | 1,457 | 1,778 | 4,203 |
Other changes, net | 45 | 130 | (533) | |
Ending balance | $ 14,464 | $ 17,229 | $ 22,853 | |
[1] | Respresents changes attributable to expected loss assumptions |
Note 5 - Credit Quality (Detail
Note 5 - Credit Quality (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | ||
Financing Receivable, Collectively Evaluated for Impairment | $ 1,672,634 | $ 1,755,339 | |||
Loans Deemed to be Impaired, Threshold | $ 500 | $ 250 | |||
Impaired Financing Receivable, Recorded Investment, Total | [1] | 31,172 | 33,008 | ||
Restructured Loans, Reserves | $ 250 | ||||
Performing Status Returned Period | 180 days | ||||
Financing Receivable, Troubled Debt Restructuring | $ 8,917 | 9,008 | |||
Financial Asset Acquired with Credit Deterioration [Member] | |||||
Impaired Financing Receivable, Recorded Investment, Total | 0 | 0 | |||
Impaired Loans [Member] | |||||
Financing Receivable, Collectively Evaluated for Impairment | 24,640 | 25,270 | |||
Non-covered Loans [Member] | |||||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 144 | 58 | |||
Covered Loans [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | $ 0 | $ 0 | |||
[1] | Total impaired loans include loans totaling $24.35 million as of December 31, 2019, and $25.27 million as of December 31, 2018, that do not meet the Company's evaluation threshold for individual impairment and are therefore collectively evaluated for impairment. During the first quarter of 2018, the Company changed the threshold for quarterly reviews of individual loans that are deemed to be impaired from $250 thousand to $500 thousand or greater. |
Note 5 - Credit Quality - Loans
Note 5 - Credit Quality - Loans by Credit Quality (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Non-covered loans | $ 2,101,599 | $ 1,756,269 |
Covered loans | 12,861 | 18,815 |
Total loans | 2,114,460 | 1,775,084 |
Commercial Portfolio Segment [Member] | ||
Non-covered loans | 1,238,814 | 1,056,807 |
Covered loans | 230 | 279 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | 48,659 | 63,508 |
Covered loans | 28 | 35 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | 142,962 | 104,863 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | 121,840 | 107,012 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | 163,181 | 140,097 |
Covered loans | 199 | 238 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | 727,261 | 613,877 |
Covered loans | 3 | 6 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | 11,756 | 8,545 |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | 23,155 | 18,905 |
Consumer Real Estate Portfolio Segment [Member] | ||
Non-covered loans | 748,016 | 622,600 |
Covered loans | 12,631 | 18,536 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | 110,078 | 93,466 |
Covered loans | 9,853 | 15,284 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | 620,697 | 510,963 |
Covered loans | 2,778 | 3,252 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | 17,241 | 18,171 |
Consumer and Other Portfolio Segment [Member] | ||
Non-covered loans | 114,769 | 76,862 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | 110,027 | 71,552 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans | 4,742 | 5,310 |
Pass [Member] | ||
Non-covered loans | 1,977,756 | 1,688,842 |
Covered loans | 9,487 | 12,241 |
Total loans | 1,987,243 | 1,701,083 |
Pass [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | 45,781 | 61,877 |
Covered loans | ||
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | 135,651 | 102,044 |
Pass [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | 118,045 | 104,183 |
Pass [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | 149,916 | 131,443 |
Covered loans | 199 | 223 |
Pass [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | 683,481 | 595,659 |
Covered loans | ||
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | 11,299 | 8,328 |
Pass [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | 17,609 | 16,898 |
Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | 106,246 | 91,194 |
Covered loans | 7,177 | 9,511 |
Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | 580,580 | 482,794 |
Covered loans | 2,111 | 2,507 |
Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | 16,341 | 17,872 |
Pass [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | 108,065 | 71,240 |
Pass [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans | 4,742 | 5,310 |
Special Mention [Member] | ||
Non-covered loans | 68,287 | 22,152 |
Covered loans | 2,630 | 5,634 |
Total loans | 70,917 | 27,786 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | 2,079 | 661 |
Covered loans | 28 | 35 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | 4,327 | 2,166 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | 2,468 | 1,087 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | 7,489 | 4,395 |
Covered loans | ||
Special Mention [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | 27,160 | 8,166 |
Covered loans | ||
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | 122 | 131 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | 4,107 | 538 |
Special Mention [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | 2,014 | 649 |
Covered loans | 2,327 | 5,244 |
Special Mention [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | 17,001 | 4,355 |
Covered loans | 275 | 355 |
Special Mention [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | 179 | |
Special Mention [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | 1,341 | 4 |
Special Mention [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans | ||
Substandard [Member] | ||
Non-covered loans | 55,556 | 45,129 |
Covered loans | 744 | 940 |
Total loans | 56,300 | 46,069 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | 799 | 970 |
Covered loans | ||
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | 2,984 | 653 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | 1,327 | 1,742 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | 5,776 | 4,259 |
Covered loans | 15 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | 16,620 | 9,906 |
Covered loans | 3 | 6 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | 335 | 86 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | 1,439 | 1,469 |
Substandard [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | 1,818 | 1,623 |
Covered loans | 349 | 529 |
Substandard [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | 23,116 | 23,814 |
Covered loans | 392 | 390 |
Substandard [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | 721 | 299 |
Substandard [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | 621 | 308 |
Substandard [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans | ||
Doubtful [Member] | ||
Non-covered loans | 146 | |
Covered loans | ||
Total loans | 146 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | ||
Covered loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | ||
Covered loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | 146 | |
Covered loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | ||
Doubtful [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | ||
Covered loans | ||
Doubtful [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | ||
Covered loans | ||
Doubtful [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | ||
Doubtful [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | ||
Doubtful [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | ||
Non-covered loans | ||
Covered loans | ||
Total loans | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | ||
Covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | ||
Covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | ||
Covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | ||
Covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | ||
Covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | ||
Unlikely to be Collected Financing Receivable [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans |
Note 5 - Credit Quality - Recor
Note 5 - Credit Quality - Recorded Investment and Interest Income Recognized on Impaired Loans Excluding Purchased Credit Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Impaired loans with no related allowance, recorded investment | $ 28,685 | $ 27,938 | |
Impaired loans with no related allowance, unpaid principal balance | 32,884 | 31,984 | |
Impaired loans with a related allowance, recorded investment | 2,487 | 5,070 | |
Impaired loans with a related allowance, unpaid principal balance | 2,473 | 5,129 | |
Impaired loans, related allowance | [1] | 645 | 1,452 |
Total impaired loans, recorded investment | [1] | 31,172 | 33,008 |
Total impaired loans, unpaid principal balance | [1] | 35,357 | 37,113 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Impaired loans with no related allowance, recorded investment | 552 | 824 | |
Impaired loans with no related allowance, unpaid principal balance | 768 | 840 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Impaired loans with no related allowance, recorded investment | 576 | 386 | |
Impaired loans with no related allowance, unpaid principal balance | 599 | 416 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Impaired loans with no related allowance, recorded investment | 1,254 | 1,127 | |
Impaired loans with no related allowance, unpaid principal balance | 1,661 | 1,274 | |
Impaired loans with a related allowance, recorded investment | 534 | ||
Impaired loans with a related allowance, unpaid principal balance | 536 | ||
Impaired loans, related allowance | 230 | ||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Impaired loans with no related allowance, recorded investment | 2,652 | 2,761 | |
Impaired loans with no related allowance, unpaid principal balance | 3,176 | 3,095 | |
Impaired loans with a related allowance, recorded investment | 1,246 | 3,631 | |
Impaired loans with a related allowance, unpaid principal balance | 1,246 | 3,683 | |
Impaired loans, related allowance | 353 | 922 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Impaired loans with no related allowance, recorded investment | 4,158 | 4,154 | |
Impaired loans with no related allowance, unpaid principal balance | 4,762 | 4,494 | |
Impaired loans with a related allowance, recorded investment | 1,241 | 840 | |
Impaired loans with a related allowance, unpaid principal balance | 1,227 | 842 | |
Impaired loans, related allowance | 292 | 235 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Impaired loans with no related allowance, recorded investment | 158 | 86 | |
Impaired loans with no related allowance, unpaid principal balance | 164 | 96 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Impaired loans with no related allowance, recorded investment | 1,437 | 1,464 | |
Impaired loans with no related allowance, unpaid principal balance | 1,500 | 1,547 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Impaired loans with no related allowance, recorded investment | 1,372 | 1,315 | |
Impaired loans with no related allowance, unpaid principal balance | 1,477 | 1,451 | |
Impaired loans with a related allowance, recorded investment | 65 | ||
Impaired loans with a related allowance, unpaid principal balance | 68 | ||
Impaired loans, related allowance | 65 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Impaired loans with no related allowance, recorded investment | 15,588 | 15,451 | |
Impaired loans with no related allowance, unpaid principal balance | 17,835 | 18,390 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Impaired loans with no related allowance, recorded investment | 648 | 225 | |
Impaired loans with no related allowance, unpaid principal balance | 648 | 225 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | |||
Impaired loans with no related allowance, recorded investment | 290 | 145 | |
Impaired loans with no related allowance, unpaid principal balance | $ 294 | $ 156 | |
[1] | Total impaired loans include loans totaling $24.35 million as of December 31, 2019, and $25.27 million as of December 31, 2018, that do not meet the Company's evaluation threshold for individual impairment and are therefore collectively evaluated for impairment. During the first quarter of 2018, the Company changed the threshold for quarterly reviews of individual loans that are deemed to be impaired from $250 thousand to $500 thousand or greater. |
Note 5 - Credit Quality - Avera
Note 5 - Credit Quality - Average Annual Recorded Investment and Interest Income Recognized on Impaired Loans Excluding Purchased Credit Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Impaired loans with no related allowance, interest income recognized | $ 1,077 | $ 976 | $ 928 |
Impaired loans with no related allowance, average recorded investment | 29,693 | 28,495 | 27,209 |
Impaired loans with a related allowance, average recorded investment | 2,713 | 6,860 | 8,102 |
Impaired loans with a related allowance, interest income recognized | 94 | 172 | 328 |
Interest income recognized | 1,171 | 1,148 | 1,256 |
Total impaired loans, average recorded investment | 32,406 | 35,355 | 35,311 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Impaired loans with no related allowance, interest income recognized | 22 | 26 | 56 |
Impaired loans with no related allowance, average recorded investment | 704 | 921 | 455 |
Impaired loans with a related allowance, interest income recognized | |||
Impaired loans with a related allowance, average recorded investment | 107 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Impaired loans with no related allowance, interest income recognized | 34 | 19 | 14 |
Impaired loans with no related allowance, average recorded investment | 363 | 383 | 556 |
Impaired loans with a related allowance, interest income recognized | 103 | ||
Impaired loans with a related allowance, average recorded investment | 1,376 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Impaired loans with no related allowance, interest income recognized | 24 | 47 | 53 |
Impaired loans with no related allowance, average recorded investment | 1,356 | 910 | 523 |
Impaired loans with a related allowance, interest income recognized | 2 | ||
Impaired loans with a related allowance, average recorded investment | 270 | ||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Impaired loans with no related allowance, interest income recognized | 123 | 123 | 106 |
Impaired loans with no related allowance, average recorded investment | 2,979 | 2,652 | 3,214 |
Impaired loans with a related allowance, interest income recognized | 7 | 27 | |
Impaired loans with a related allowance, average recorded investment | 110 | 479 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Impaired loans with no related allowance, interest income recognized | 123 | 133 | 122 |
Impaired loans with no related allowance, average recorded investment | 4,683 | 4,828 | 4,052 |
Impaired loans with a related allowance, interest income recognized | 48 | 2 | 15 |
Impaired loans with a related allowance, average recorded investment | 766 | 809 | 789 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Impaired loans with no related allowance, interest income recognized | 9 | 5 | |
Impaired loans with no related allowance, average recorded investment | 121 | 164 | 124 |
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Impaired loans with no related allowance, interest income recognized | 55 | 64 | 17 |
Impaired loans with no related allowance, average recorded investment | 1,469 | 1,172 | 853 |
Impaired loans with a related allowance, interest income recognized | 22 | ||
Impaired loans with a related allowance, average recorded investment | 307 | 442 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Impaired loans with no related allowance, interest income recognized | 46 | 44 | 50 |
Impaired loans with no related allowance, average recorded investment | 1,439 | 1,637 | 1,365 |
Impaired loans with a related allowance, interest income recognized | 3 | ||
Impaired loans with a related allowance, average recorded investment | 68 | 104 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Impaired loans with no related allowance, interest income recognized | 599 | 503 | 488 |
Impaired loans with no related allowance, average recorded investment | 16,058 | 15,423 | 15,758 |
Impaired loans with a related allowance, average recorded investment | 1,947 | 5,296 | 4,805 |
Impaired loans with a related allowance, interest income recognized | 46 | 158 | 161 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Impaired loans with no related allowance, interest income recognized | 29 | 8 | 8 |
Impaired loans with no related allowance, average recorded investment | 308 | 244 | 234 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | |||
Impaired loans with no related allowance, interest income recognized | 13 | 9 | 9 |
Impaired loans with no related allowance, average recorded investment | $ 213 | $ 161 | $ 75 |
Note 5 - Credit Quality - Infor
Note 5 - Credit Quality - Information on Impaired PCI Loan Pools (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income recognized | $ 1,171 | $ 1,148 | $ 1,256 |
Average recorded investment | 29,693 | 28,495 | 27,209 |
Financial Asset Acquired with Credit Deterioration [Member] | |||
Interest income recognized | 20 | ||
Average recorded investment | $ 528 |
Note 5 - Credit Quality - Nonac
Note 5 - Credit Quality - Nonaccrual Loans by Loan Class (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Total nonaccrual loans | $ 16,357 | $ 19,905 |
Non-covered Loans [Member] | ||
Total nonaccrual loans | 16,113 | 19,583 |
Covered Loans [Member] | ||
Total nonaccrual loans | 244 | 322 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Total nonaccrual loans | 211 | 413 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 211 | 413 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Total nonaccrual loans | 530 | 428 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 530 | 428 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Total nonaccrual loans | 1,144 | 1,395 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 1,144 | 1,395 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Total nonaccrual loans | 1,286 | 1,711 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 1,286 | 1,696 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 15 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Total nonaccrual loans | 3,400 | 4,020 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 3,400 | 4,020 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Total nonaccrual loans | 158 | 86 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 158 | 86 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Total nonaccrual loans | 713 | 711 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 713 | 711 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Total nonaccrual loans | 973 | 885 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 753 | 614 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 220 | 271 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Total nonaccrual loans | 7,283 | 10,177 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 7,259 | 10,141 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 24 | 36 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Total nonaccrual loans | 428 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 428 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Total nonaccrual loans | 231 | 79 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 231 | 79 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Covered Loans [Member] | ||
Total nonaccrual loans |
Note 5 - Credit Quality - Aging
Note 5 - Credit Quality - Aging of Past Due Loans by Loan Class (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Past due | $ 33,453 | $ 25,654 |
Current loans | 2,081,007 | 1,749,430 |
Non-covered | 2,101,599 | 1,756,269 |
Loans held for investment, covered | 12,861 | 18,815 |
Loans held for investment, net of unearned income (includes covered loans of $12,861 and $18,815, respectively) | 2,114,460 | 1,775,084 |
Non-covered Loans [Member] | ||
Past due | 33,231 | 25,168 |
Current loans | 2,068,368 | 1,731,101 |
Covered Loans [Member] | ||
Past due | 222 | 486 |
Current loans | 12,639 | 18,329 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 16,236 | 9,403 |
Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 16,092 | 9,046 |
Financial Asset, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 144 | 357 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 6,104 | 5,597 |
Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 6,026 | 5,559 |
Financial Asset, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 78 | 38 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 11,113 | 10,654 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 11,113 | 10,563 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 91 | |
Commercial Portfolio Segment [Member] | ||
Non-covered | 1,238,814 | 1,056,807 |
Loans held for investment, covered | 230 | 279 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered | 48,659 | 63,508 |
Loans held for investment, covered | 28 | 35 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Non-covered Loans [Member] | ||
Past due | 339 | 518 |
Current loans | 48,320 | 62,990 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Covered Loans [Member] | ||
Past due | ||
Current loans | 28 | 35 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 63 | 111 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 65 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 211 | 407 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered | 142,962 | 104,863 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Non-covered Loans [Member] | ||
Past due | 2,658 | 568 |
Current loans | 140,304 | 104,295 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 1,913 | 306 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 238 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 507 | 262 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered | 121,840 | 107,012 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Non-covered Loans [Member] | ||
Past due | 1,519 | 1,387 |
Current loans | 120,321 | 105,625 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 375 | 113 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 1,144 | 1,274 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered | 163,181 | 140,097 |
Loans held for investment, covered | 199 | 238 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Non-covered Loans [Member] | ||
Past due | 1,682 | 2,621 |
Current loans | 161,499 | 137,476 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Covered Loans [Member] | ||
Past due | 15 | |
Current loans | 199 | 223 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 754 | 514 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 15 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 267 | 1,115 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 661 | 992 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered | 727,261 | 613,877 |
Loans held for investment, covered | 3 | 6 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Non-covered Loans [Member] | ||
Past due | 5,893 | 4,270 |
Current loans | 721,368 | 609,607 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Covered Loans [Member] | ||
Past due | ||
Current loans | 3 | 6 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 917 | 1,332 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 1,949 | 540 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 3,027 | 2,398 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered | 11,756 | 8,545 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Non-covered Loans [Member] | ||
Past due | 250 | 109 |
Current loans | 11,506 | 8,436 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 86 | 109 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 164 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered | 23,155 | 18,905 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Non-covered Loans [Member] | ||
Past due | 1,869 | 1,032 |
Current loans | 21,286 | 17,873 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 856 | 640 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 349 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 664 | 392 |
Consumer Real Estate Portfolio Segment [Member] | ||
Non-covered | 748,016 | 622,600 |
Loans held for investment, covered | 12,631 | 18,536 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered | 110,078 | 93,466 |
Loans held for investment, covered | 9,853 | 15,284 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Non-covered Loans [Member] | ||
Past due | 2,104 | 951 |
Current loans | 107,974 | 92,515 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Covered Loans [Member] | ||
Past due | 172 | 305 |
Current loans | 9,681 | 14,979 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 1,436 | 408 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 144 | 176 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 165 | 209 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 28 | 38 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 503 | 334 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 91 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered | 620,697 | 510,963 |
Loans held for investment, covered | 2,778 | 3,252 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Non-covered Loans [Member] | ||
Past due | 13,884 | 12,946 |
Current loans | 606,813 | 498,017 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Covered Loans [Member] | ||
Past due | 50 | 166 |
Current loans | 2,728 | 3,086 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 7,728 | 5,006 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 166 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 2,390 | 3,495 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | 50 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 3,766 | 4,445 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Covered Loans [Member] | ||
Past due | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered | 17,241 | 18,171 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Non-covered Loans [Member] | ||
Past due | 635 | |
Current loans | 16,606 | 18,171 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 207 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 428 | |
Consumer and Other Portfolio Segment [Member] | ||
Non-covered | 114,769 | 76,862 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered | 110,027 | 71,552 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Non-covered Loans [Member] | ||
Past due | 2,376 | 766 |
Current loans | 107,651 | 70,786 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 1,735 | 507 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 439 | 200 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 202 | 59 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered | 4,742 | 5,310 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Non-covered Loans [Member] | ||
Past due | 22 | |
Current loans | 4,720 | 5,310 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | 22 | |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due | ||
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Past due |
Note 5 - Credit Quality - Loa_2
Note 5 - Credit Quality - Loans Modified as Troubled Debt Restructurings by Loan Class and Accrual Status (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Nonaccrual | [1] | $ 2,342 | $ 2,581 |
Accrual | 6,575 | 6,427 | |
TDRs | 8,917 | 9,008 | |
Allowance for loan losses related to TDRs | 353 | 568 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Nonaccrual | [1] | 552 | 640 |
Accrual | 595 | 309 | |
TDRs | 1,147 | 949 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Nonaccrual | [1] | ||
Accrual | 307 | 314 | |
TDRs | 307 | 314 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Nonaccrual | [1] | ||
Accrual | 115 | 127 | |
TDRs | 115 | 127 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Nonaccrual | [1] | 1,790 | 1,941 |
Accrual | 5,305 | 5,417 | |
TDRs | 7,095 | 7,358 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Nonaccrual | [1] | ||
Accrual | 221 | 225 | |
TDRs | 221 | 225 | |
Consumer and Other Portfolio Segment [Member] | |||
TDRs | 35 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | |||
Nonaccrual | [1] | ||
Accrual | 32 | $ 35 | |
TDRs | $ 32 | ||
[1] | Nonaccrual TDRs are included in total nonaccrual loans disclosed in the nonaccrual table above. |
Note 5 - Credit Quality - Balan
Note 5 - Credit Quality - Balance and Interest Income Related to Impaired Loan Pools (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income recognized | $ 1,171 | $ 1,148 | $ 1,256 |
Troubled Debt Restructurings [Member] | Purchased Credit Impaired Loans [Member] | |||
Interest income recognized | $ 277 | $ 264 | $ 222 |
Note 5 - Credit Quality - Loa_3
Note 5 - Credit Quality - Loans Modified as Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Total contracts | 10 | 2 |
Pre-modification recorded investment | $ 1,223 | $ 52 |
Post-modification recorded investment | $ 1,152 | $ 52 |
Total contracts, payment default | 1 | |
Recorded investment, payment default | $ 521 | |
Single Family Owner Occupied [Member] | ||
Total contracts, payment default | 1 | |
Recorded investment, payment default | $ 521 | |
Below Market Interest Rate [Member] | Single Family Owner Occupied [Member] | ||
Total contracts | 1 | |
Pre-modification recorded investment | $ 11 | |
Post-modification recorded investment | $ 11 | |
Below Market Interest Rate and Extended Payment Term [Member] | Single Family Owner Occupied [Member] | ||
Total contracts | 6 | 1 |
Pre-modification recorded investment | $ 887 | $ 41 |
Post-modification recorded investment | $ 871 | $ 41 |
Payment Deferral [Member] | ||
Total contracts | 4 | |
Pre-modification recorded investment | $ 336 | |
Post-modification recorded investment | $ 281 | |
Payment Deferral [Member] | Single Family Owner Occupied [Member] | ||
Total contracts | 3 | |
Pre-modification recorded investment | $ 331 | |
Post-modification recorded investment | $ 279 | |
Payment Deferral [Member] | Home Equity Lines [Member] | ||
Total contracts | 1 | |
Pre-modification recorded investment | $ 5 | |
Post-modification recorded investment | $ 2 |
Note 5 - Credit Quality - Other
Note 5 - Credit Quality - Other Real Estate Owned (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Non-covered OREO | $ 3,969 | $ 3,806 | |
Covered OREO | 0 | 32 | |
Total OREO | 3,969 | 3,838 | |
Non-covered OREO secured by residential real estate | 2,232 | 2,303 | |
Residential real estate loans in the foreclosure process(1) | [1] | $ 1,539 | $ 6,349 |
[1] | The recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction |
Note 6 - Allowance for Loan L_3
Note 6 - Allowance for Loan Losses (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans and Leases Receivable, Allowance, Ending Balance | $ 18,425 | $ 18,267 | $ 19,276 |
Financing Receivable, Collectively Evaluated for Impairment | 1,672,634 | 1,755,339 | |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Allowance, Ending Balance | 10,235 | 10,499 | $ 11,672 |
Financing Receivable, Collectively Evaluated for Impairment | 969,838 | 1,048,305 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Financing Receivable, Collectively Evaluated for Impairment | 591,520 | 608,537 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Financing Receivable, Collectively Evaluated for Impairment | 16,146 | 18,392 | |
Reclassification from Loans Collectively Evaluated for Impairment to Loans Individually Evaluated for Impairment [Member] | |||
Financing Receivable, Collectively Evaluated for Impairment | (2,670) | ||
Reclassification from Loans Collectively Evaluated for Impairment to Loans Individually Evaluated for Impairment [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Financing Receivable, Collectively Evaluated for Impairment | (563) | ||
Reclassification from Loans Collectively Evaluated for Impairment to Loans Individually Evaluated for Impairment [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Financing Receivable, Collectively Evaluated for Impairment | (513) | ||
Reclassification from Loans Collectively Evaluated for Impairment to Loans Individually Evaluated for Impairment [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Financing Receivable, Collectively Evaluated for Impairment | 1,600 | ||
Financial Asset Acquired with Credit Deterioration [Member] | |||
Loans and Leases Receivable, Allowance, Ending Balance | $ 0 | $ 0 |
Note 6 - Allowance for Loan L_4
Note 6 - Allowance for Loan Losses - Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 18,267 | $ 19,276 |
Provision for (Recovery of) loan losses charged to operations | 3,571 | 2,393 |
Charge-offs | (6,261) | (4,907) |
Recoveries | 2,848 | 1,505 |
Net charge-offs | (3,413) | (3,402) |
Ending balance | 18,425 | 18,267 |
Commercial Portfolio Segment [Member] | ||
Beginning balance | 10,499 | 11,672 |
Provision for (Recovery of) loan losses charged to operations | 1,411 | (660) |
Charge-offs | (2,548) | (1,236) |
Recoveries | 873 | 723 |
Net charge-offs | (1,675) | (513) |
Ending balance | 10,235 | 10,499 |
Consumer Real Estate Portfolio Segment [Member] | ||
Beginning balance | 6,732 | 6,810 |
Provision for (Recovery of) loan losses charged to operations | (105) | 1,473 |
Charge-offs | (1,790) | (2,005) |
Recoveries | 1,488 | 454 |
Net charge-offs | (302) | (1,551) |
Ending balance | 6,325 | 6,732 |
Consumer and Other Portfolio Segment [Member] | ||
Beginning balance | 1,036 | 794 |
Provision for (Recovery of) loan losses charged to operations | 2,265 | 1,580 |
Charge-offs | (1,923) | (1,666) |
Recoveries | 487 | 328 |
Net charge-offs | (1,436) | (1,338) |
Ending balance | $ 1,865 | $ 1,036 |
Note 6 - Allowance for Loan L_5
Note 6 - Allowance for Loan Losses - Allowance for Loan Losses and Recorded Investment in Loans, Evaluated for Impairment Excluding PCI Loans, by Loan Class (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans individually evaluated for impairment | $ 6,535 | $ 7,742 |
Allowance for loans individually evaluated | 645 | 1,452 |
Loans collectively evaluated for impairment | 1,672,634 | 1,755,339 |
Allowance for loans collectively evaluated | 17,780 | 16,815 |
Commercial Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | 3,519 | 2,450 |
Allowance for loans individually evaluated | 292 | 465 |
Loans collectively evaluated for impairment | 969,838 | 1,048,305 |
Allowance for loans collectively evaluated | 9,943 | 10,034 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 30,334 | 63,039 |
Allowance for loans collectively evaluated | 245 | 417 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 95,659 | 104,863 |
Allowance for loans collectively evaluated | 699 | 663 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans individually evaluated for impairment | 944 | 534 |
Allowance for loans individually evaluated | 230 | |
Loans collectively evaluated for impairment | 98,201 | 106,478 |
Allowance for loans collectively evaluated | 969 | 962 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 128,520 | 138,451 |
Allowance for loans collectively evaluated | 1,323 | 1,442 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Loans individually evaluated for impairment | 2,575 | 1,403 |
Allowance for loans individually evaluated | 292 | 235 |
Loans collectively evaluated for impairment | 591,520 | 608,537 |
Allowance for loans collectively evaluated | 6,361 | 6,295 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 9,458 | 8,545 |
Allowance for loans collectively evaluated | 145 | 85 |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Loans individually evaluated for impairment | 513 | |
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 16,146 | 18,392 |
Allowance for loans collectively evaluated | 201 | 170 |
Consumer Real Estate Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | 3,016 | 5,292 |
Allowance for loans individually evaluated | 353 | 987 |
Loans collectively evaluated for impairment | 598,855 | 630,172 |
Allowance for loans collectively evaluated | 5,972 | 5,745 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Loans individually evaluated for impairment | 65 | |
Allowance for loans individually evaluated | 65 | |
Loans collectively evaluated for impairment | 91,999 | 103,668 |
Allowance for loans collectively evaluated | 673 | 683 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Loans individually evaluated for impairment | 3,016 | 3,631 |
Allowance for loans individually evaluated | 353 | 922 |
Loans collectively evaluated for impairment | 490,712 | 509,929 |
Allowance for loans collectively evaluated | 5,175 | 4,931 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Loans individually evaluated for impairment | 1,596 | |
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 16,144 | 16,575 |
Allowance for loans collectively evaluated | 124 | 131 |
Consumer and Other Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 103,941 | 76,862 |
Allowance for loans collectively evaluated | 1,865 | 1,036 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 99,199 | 71,552 |
Allowance for loans collectively evaluated | 1,865 | 1,036 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 4,742 | 5,310 |
Allowance for loans collectively evaluated |
Note 6 - Allowance for Loan L_6
Note 6 - Allowance for Loan Losses - Allowance for Loan Losses on PCI Loans and Recorded Investment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Acquired impaired loans evaluated for impairment | $ 61,247 | $ 12,003 |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | ||
Acquired impaired loans evaluated for impairment | 41,167 | 5,273 |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Waccamaw Commercial [Member] | ||
Acquired impaired loans evaluated for impairment | ||
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Peoples Commercial [Member] | ||
Acquired impaired loans evaluated for impairment | 4,371 | 4,405 |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | 1-4 family, Senior-commercial [Member] | ||
Acquired impaired loans evaluated for impairment | 4,564 | |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | ||
Acquired impaired loans evaluated for impairment | 1,956 | |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Farmland and Other Agricultural [Member] | ||
Acquired impaired loans evaluated for impairment | 3,722 | |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Multifamily [Member] | ||
Acquired impaired loans evaluated for impairment | 1,663 | |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate-owner Occupied [Member] | ||
Acquired impaired loans evaluated for impairment | 13,024 | |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Commercial Real Estate Non-owner Occupied [Member] | ||
Acquired impaired loans evaluated for impairment | 8,686 | |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Acquired impaired loans evaluated for impairment | 2,829 | |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Other Commercial Loan [Member] | ||
Acquired impaired loans evaluated for impairment | 352 | 868 |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | ||
Acquired impaired loans evaluated for impairment | 20,080 | 6,730 |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | Waccamaw Serviced Home Equity Lines [Member] | ||
Acquired impaired loans evaluated for impairment | 2,121 | 5,017 |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | Waccamaw Residential [Member] | ||
Acquired impaired loans evaluated for impairment | 587 | 788 |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | 1-4 Family, Junior and HELOCS [Member] | ||
Acquired impaired loans evaluated for impairment | 2,157 | |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | 1-4 Family, Senior-consumer [Member] | ||
Acquired impaired loans evaluated for impairment | 13,174 | |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | Consumer Loan [Member] | ||
Acquired impaired loans evaluated for impairment | 1,341 | |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | Peoples Residential [Member] | ||
Acquired impaired loans evaluated for impairment | 700 | 925 |
Allowance for acquired impaired loans |
Note 7 - FDIC Indemnification_3
Note 7 - FDIC Indemnification Asset (Details Textual) | Dec. 31, 2012 |
Percentage of Loss Covered by FDIC | 80.00% |
Note 7 - FDIC Indemnification_4
Note 7 - FDIC Indemnification Asset - Changes in Receivable From FDIC (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning balance | $ 5,108 | $ 7,161 | |
Reimbursable expenses to the FDIC | (23) | ||
Net FDIC indemnification asset amortization | (2,377) | (2,181) | $ (3,517) |
Payments to the FDIC | 152 | 151 | |
Ending balance | 2,883 | 5,108 | $ 7,161 |
Covered loans | 12,861 | 18,815 | |
Covered OREO | $ 0 | $ 32 |
Note 8 - Premises, Equipment,_3
Note 8 - Premises, Equipment, and Leases (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Impairment of Long-Lived Assets to be Disposed of | $ 380 | $ 1,010 | $ 677 |
Depreciation, Depletion and Amortization, Total | $ 3,450 | 2,910 | 3,560 |
Operating Lease, Weighted Average Discount Rate, Percent | 3.22% | ||
Operating Lease, Expense | $ 203 | $ 318 | $ 582 |
Other Assets [Member] | |||
Operating Lease, Right-of-Use Asset | 917,000 | ||
Other Liabilities [Member] | |||
Operating Lease, Liability, Total | $ 1,009 | ||
Minimum [Member] | |||
Lessee Operating Lease Remaining Lease Term | 2 years | ||
Maximum [Member] | |||
Lessee Operating Lease Remaining Lease Term | 10 years | ||
Lease Acquired from Acquisition [Member] | |||
Operating Lease, Liability, Total | $ 82 |
Note 8 - Premises, Equipment,_4
Note 8 - Premises, Equipment, and Leases - Components of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Land | $ 22,899 | $ 18,090 |
Buildings and leasehold improvements | 52,351 | 45,079 |
Equipment | 38,173 | 33,551 |
Total premises and equipment | 113,423 | 96,720 |
Accumulated depreciation and amortization | (50,599) | (50,935) |
Total premises and equipment, net | $ 62,824 | $ 45,785 |
Note 8 - Premises, Equipment,_5
Note 8 - Premises, Equipment, and Leases - Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 154 |
2021 | 154 |
2022 | 131 |
2023 | 119 |
2024 and thereafter | 580 |
Total lease payments | 1,138 |
Less: Interest | (129) |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | $ 1,009 |
Note 9 - Goodwill and Other I_3
Note 9 - Goodwill and Other Intangible Assets (Details Textual) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Oct. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Number of Reportable Segments | 1 | ||||
Goodwill, Impairment Loss | $ 1,490,000 | $ 1,490,000 | $ 1,492,000 | ||
Amortization of Intangible Assets, Total | $ 997,000 | $ 1,039,000 | $ 1,056,000 | ||
Core Deposits [Member] | |||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 7 years | ||||
Minimum [Member] | Core Deposits [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||||
Maximum [Member] | Core Deposits [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Note 9 - Goodwill and Other I_4
Note 9 - Goodwill and Other Intangible Assets - Changes in Goodwill, by Reporting Unit (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Oct. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance | $ 92,744,000 | ||||
Impairment charges | $ (1,490,000) | $ (1,490,000) | $ (1,492,000) | ||
Balance | 129,565,000 | 92,744,000 | |||
Community Banking [Member] | |||||
Balance | 92,744,000 | 95,779,000 | 95,779,000 | ||
Acquisitions and dispositions, net | 36,821,000 | (1,543,000) | |||
Impairment charges | (1,492,000) | ||||
Balance | $ 129,565,000 | $ 92,744,000 | $ 95,779,000 |
Note 9 - Goodwill and Other I_5
Note 9 - Goodwill and Other Intangible Assets - Components of Other Intangible Assets, by Reporting Unit (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Finite-lived intangible assets, net | $ 8,519 | ||
Other intangible assets | 8,519 | $ 5,026 | |
Community Banking [Member] | |||
Other intangible assets | 5,026 | $ 6,151 | |
Core Deposits [Member] | |||
Finite-lived intangible assets, gross | 8,184 | ||
Accumulated amortization | (4,155) | ||
Finite-lived intangible assets, net | 8,519 | ||
Core Deposits [Member] | Highlands Bankshares, Inc. [Member] | |||
Finite-lived intangible assets, gross | 4,490 | ||
Core Deposits [Member] | Community Banking [Member] | |||
Finite-lived intangible assets, gross | 8,184 | 8,184 | |
Accumulated amortization | (3,158) | (2,161) | |
Finite-lived intangible assets, net | 5,026 | 6,023 | |
Core Deposits [Member] | Community Banking [Member] | Highlands Bankshares, Inc. [Member] | |||
Finite-lived intangible assets, gross | |||
Other Intangible Assets [Member] | |||
Finite-lived intangible assets, gross | |||
Accumulated amortization | |||
Finite-lived intangible assets, net | |||
Other Intangible Assets [Member] | Community Banking [Member] | |||
Finite-lived intangible assets, gross | 535 | 879 | |
Accumulated amortization | (535) | (751) | |
Finite-lived intangible assets, net | $ 128 |
Note 9 - Goodwill and Other I_6
Note 9 - Goodwill and Other Intangible Assets - Estimated Amortization Expense for Intangible Assets, by Year (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 1,446 |
2021 | 1,446 |
2022 | 1,446 |
2023 | 880 |
2024 | 856 |
2025 and thereafter | 2,445 |
Total estimated amortization expense | $ 8,519 |
Note 10 - Deposits (Details Tex
Note 10 - Deposits (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Time Deposits, at or Above FDIC Insurance Limit | $ 53,494 | $ 43,840 |
Note 10 - Deposits - Components
Note 10 - Deposits - Components of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Noninterest-bearing demand deposits | $ 627,868 | $ 459,550 |
Interest-bearing demand deposits | 497,470 | 451,721 |
Money market accounts | 235,712 | 153,483 |
Savings deposits | 453,240 | 345,335 |
Certificates of deposit | 372,821 | 330,757 |
Individual retirement accounts | 142,801 | 114,904 |
Total interest-bearing deposits | 1,702,044 | 1,396,200 |
Total deposits | $ 2,329,912 | $ 1,855,750 |
Note 10 - Deposits - Scheduled
Note 10 - Deposits - Scheduled Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 282,220 |
2021 | 106,927 |
2022 | 62,436 |
2023 | 33,579 |
2024 | 23,622 |
2025 and thereafter | 6,838 |
Total contractual maturities | $ 515,622 |
Note 10 - Deposits - Schedule_2
Note 10 - Deposits - Scheduled Maturities of Certificates of Deposit of $250 Thousand or More (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Three months or less | $ 13,832 | |
Over three through six months | 7,867 | |
Over six through twelve months | 11,764 | |
Over twelve months | 20,031 | |
Total contractual maturities | $ 53,494 | $ 43,840 |
Note 11 - Borrowings (Details T
Note 11 - Borrowings (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Long-term Federal Home Loan Bank Advances, Noncurrent | $ 25,000 | |
Debt Instrument, Unused Borrowing Capacity, Amount | 261,500 | |
Deposit Liabilities, Collateral Issued, Financial Instruments | 161,070 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 742,860 | |
Unsecured Line of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 15,000 | |
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |
Long-term Line of Credit, Total | $ 0 | $ 0 |
Note 11 - Borrowings - Componen
Note 11 - Borrowings - Components of Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities sold under agreements to repurchase | $ 1,601 | $ 29,370 |
Total borrowings | 1,601 | 29,370 |
Wholesale Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | $ 25,000 | |
Weighted average rate | 3.18% | |
Retail Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | $ 1,601 | $ 4,370 |
Weighted average rate | 0.14% | 0.12% |
Note 11 - Borrowings - Contract
Note 11 - Borrowings - Contractual Maturities of Repurchase Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Repurchase agreements | $ 1,601 | $ 29,370 |
Maturity Overnight and Continuous [Member] | ||
Repurchase agreements | 1,601 | |
Maturity Less than 30 Days [Member] | ||
Repurchase agreements | ||
Maturity 30 to 90 Days [Member] | ||
Repurchase agreements | ||
Maturity Greater than 90 Days [Member] | ||
Repurchase agreements | ||
US Treasury Securities [Member] | ||
Repurchase agreements | ||
US Treasury Securities [Member] | Maturity Overnight and Continuous [Member] | ||
Repurchase agreements | ||
US Treasury Securities [Member] | Maturity Less than 30 Days [Member] | ||
Repurchase agreements | ||
US Treasury Securities [Member] | Maturity 30 to 90 Days [Member] | ||
Repurchase agreements | ||
US Treasury Securities [Member] | Maturity Greater than 90 Days [Member] | ||
Repurchase agreements | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Repurchase agreements | 871 | |
US States and Political Subdivisions Debt Securities [Member] | Maturity Overnight and Continuous [Member] | ||
Repurchase agreements | 871 | |
US States and Political Subdivisions Debt Securities [Member] | Maturity Less than 30 Days [Member] | ||
Repurchase agreements | ||
US States and Political Subdivisions Debt Securities [Member] | Maturity 30 to 90 Days [Member] | ||
Repurchase agreements | ||
US States and Political Subdivisions Debt Securities [Member] | Maturity Greater than 90 Days [Member] | ||
Repurchase agreements | ||
Mortgage-backed Agency Securities [Member] | ||
Repurchase agreements | 730 | |
Mortgage-backed Agency Securities [Member] | Maturity Overnight and Continuous [Member] | ||
Repurchase agreements | 730 | |
Mortgage-backed Agency Securities [Member] | Maturity Less than 30 Days [Member] | ||
Repurchase agreements | ||
Mortgage-backed Agency Securities [Member] | Maturity 30 to 90 Days [Member] | ||
Repurchase agreements | ||
Mortgage-backed Agency Securities [Member] | Maturity Greater than 90 Days [Member] | ||
Repurchase agreements |
Note 12 - Derivative Instrume_3
Note 12 - Derivative Instruments and Hedging Activities - Notional or Contractual Amounts and Fair Values of Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Notional or contractual amount | $ 17,432 | $ 5,483 |
Derivative assets | 12 | |
Derivative liabilities | 510 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Notional or contractual amount | 17,432 | 5,483 |
Derivative assets | 12 | |
Derivative liabilities | $ 510 |
Note 12 - Derivative Instrume_4
Note 12 - Derivative Instruments and Hedging Activities - Effect of Derivative and Hedging Activity, on Consolidated Statements of Income (Details) - Interest Rate Swap [Member] - Interest and Fees on Loans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative expense | $ 12 | $ 40 | $ 78 |
Designated as Hedging Instrument [Member] | |||
Derivative expense | $ 12 | $ 40 | $ 78 |
Note 13 - Employee Benefit Pl_3
Note 13 - Employee Benefit Plans (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | |
Deferred Compensation Arrangement with Individual, Recorded Liability | $ 0 | $ 0 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | 0 | 0 | $ 11 |
Stop-loss Insurance Liability for Individual Claims | 175 | ||
Stop-loss Insurance Liability for Aggregate Claims | 4,600 | ||
Other Postretirement Benefits Cost (Reversal of Cost) | $ 3,970 | $ 3,720 | $ 3,500 |
Common Stock, Shares Held in Employee Trust, Shares | shares | 346,833 | 366,969 | 387,935 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 0 | 0 | |
Share-based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 150 | $ 423 | $ 84 |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 10 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 98 days | ||
Restricted Stock [Member] | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 328 days | ||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 1,230 | ||
2012 Omnibus Incentive Compensation Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares | 600,000 | ||
Share-based Compensation Arrangement By Share-based Payment Award, Maximum Exercise Period | 10 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
2012 Omnibus Incentive Compensation Plan [Member] | Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||
Supplemental Employee Retirement Plan [Member] | |||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 35.00% | ||
Defined Benefit Plan, Employee Contribution, Age | 62 | ||
Directors' Plan [Member] | |||
Defined Benefit Plan, Employee Contribution, Age | 70 | ||
Defined Contribution Plan, Maximum Employee Contribution as Percentage of Base Salary | 100.00% | ||
401 (k) Savings Plan [Member] | |||
Defined Benefit Plan, Employer Matching Contributions | $ 1,100 | $ 1,060 | $ 1,180 |
Note 13 - Employee Benefit Pl_4
Note 13 - Employee Benefit Plans - Schedule of Changes in Aggregate Actuarial Benefit Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning balance | $ 9,265 | $ 9,635 | |
Plan change | 262 | ||
Service cost | 320 | 245 | $ 231 |
Interest cost | 404 | 358 | 372 |
Actuarial loss (gain) | 1,570 | (565) | |
Benefits paid | (509) | (408) | |
Ending balance | $ 11,312 | $ 9,265 | $ 9,635 |
Note 13 - Employee Benefit Pl_5
Note 13 - Employee Benefit Plans - Components of Net Periodic Pension Cost and Assumed Discount Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Service cost | $ 320 | $ 245 | $ 231 |
Interest cost | 404 | 358 | 372 |
Amortization of prior service cost | 257 | 228 | 228 |
Amortization of losses | 20 | 57 | 31 |
Net periodic cost | $ 1,001 | $ 888 | $ 862 |
Assumed discount rate | 3.10% | 4.28% | 3.85% |
Note 13 - Employee Benefit Pl_6
Note 13 - Employee Benefit Plans - Projected Benefit Payments (Details) - Supplemental Employee Retirement Plan [Member] $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 590 |
2021 | 648 |
2022 | 652 |
2023 | 651 |
2024 | 679 |
2025 through 2029 | $ 3,520 |
Note 13 - Employee Benefit Pl_7
Note 13 - Employee Benefit Plans - Pre-tax Compensation Expense and Excess Tax Benefit Recognized in Earnings (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pre-tax compensation expense | $ 1,481 | $ 1,158 | $ 790 |
Excess tax benefit | $ 95 | $ 17 |
Note 13 - Employee Benefit Pl_8
Note 13 - Employee Benefit Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Options outstanding at beginning of period (in shares) | 156,255 | |
Options outstanding at beginning of period (in dollars per share) | $ 20.85 | |
Granted (in shares) | 0 | 0 |
Granted (in dollars per share) | ||
Exercised (in shares) | (8,459) | |
Exercised (in dollars per share) | $ 16.14 | |
Canceled (in shares) | (596) | |
Canceled (in dollars per share) | $ 24.72 | |
Options outstanding at end of period (in shares) | 147,200 | 156,255 |
Options outstanding at end of period (in dollars per share) | $ 21.10 | $ 20.85 |
Options outstanding at end of period (Year) | 4 years 219 days | |
Options outstanding at end of period | $ 1,460 | |
Options exercisable at end of period (in shares) | 126,699 | |
Options exercisable at end of period (in dollars per share) | $ 20.52 | |
Options exercisable at end of period (Year) | 4 years 73 days | |
Options exercisable at end of period | $ 1,331 |
Note 13 - Employee Benefit Pl_9
Note 13 - Employee Benefit Plans - Restricted Stock Activity (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Nonvested shares at beginning of period (in shares) | shares | 51,113 |
Nonvested shares at beginning of period (in dollars per share) | $ / shares | $ 27.37 |
Granted (in shares) | shares | 50,521 |
Granted (in dollars per share) | $ / shares | $ 34.22 |
Vested (in shares) | shares | (43,784) |
Vested (in dollars per share) | $ / shares | $ 29.26 |
Canceled (in shares) | shares | (197) |
Canceled (in dollars per share) | $ / shares | $ 32.76 |
Nonvested shares at end of period (in shares) | shares | 57,653 |
Nonvested shares at end of period (in dollars per share) | $ / shares | $ 31.93 |
Note 14 - Other Operating Inc_3
Note 14 - Other Operating Income and Expense (Details Textual) | 12 Months Ended |
Dec. 31, 2019 | |
Percentage of Operating Income | 1.00% |
Note 14 - Other Operating Inc_4
Note 14 - Other Operating Income and Expense - Components of Other Operating Income and Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Bank owned life insurance | $ 916 | $ 687 | $ 1,365 | |
Other(1) | [1] | 1,888 | 1,861 | 2,137 |
Total other operating income | 2,804 | 2,548 | 3,502 | |
OREO expense and net loss | 1,494 | 1,549 | 1,202 | |
Telephone and data communications | 1,404 | 1,333 | 1,554 | |
Office supplies | 647 | 1,045 | 1,171 | |
Other(1) | [1] | 8,384 | 8,800 | 7,914 |
Total other operating expense | $ 11,929 | $ 12,727 | $ 11,841 | |
[1] | Components of other operating income or expense that do not exceed 1% of total income |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 35.00% | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ (1,670) | $ 6,550 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | |||
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 0 |
Note 15 - Income Taxes - Compon
Note 15 - Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Federal | $ 9,603 | $ 7,201 | $ 14,509 | ||||||||
State | 1,554 | 1,233 | 926 | ||||||||
Total current tax expense | 11,157 | 8,434 | 15,435 | ||||||||
Federal | (152) | 296 | 5,205 | ||||||||
State | (11) | 52 | (12) | ||||||||
Total deferred tax expense (benefit) | (163) | 348 | 5,193 | ||||||||
Total income tax expense | $ 2,833 | $ 2,580 | $ 2,951 | $ 2,630 | $ 2,596 | $ 1,118 | $ 2,500 | $ 2,568 | $ 10,994 | $ 8,782 | $ 20,628 |
Note 15 - Income Taxes - Reconc
Note 15 - Income Taxes - Reconciliation of Statutory Federal Tax Rate and Effective Tax Rate From Continuing Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Federal income tax at the statutory rate, amount | $ 10,457 | $ 9,475 | $ 14,739 | ||||||||
Federal income tax at the statutory rate | 21.00% | 21.00% | 35.00% | ||||||||
State income tax, net of federal benefit, amount | $ 1,220 | $ 1,016 | $ 692 | ||||||||
State income tax, net of federal benefit | 3.12% | 2.25% | 1.64% | ||||||||
Total effective income tax rate reconciliation, amount | $ 11,677 | $ 10,491 | $ 15,431 | ||||||||
Total effective income tax rate reconciliation | 24.12% | 23.25% | 36.64% | ||||||||
Tax-exempt interest income, amount | $ (637) | $ (702) | $ (1,228) | ||||||||
Tax-exempt interest income | (1.28%) | (1.56%) | (2.92%) | ||||||||
Nondeductible goodwill impairment and disposition, amount | $ 569 | ||||||||||
Nondeductible goodwill impairment and disposition | 0.00% | 1.26% | 0.00% | ||||||||
Bank owned life insurance, amount | $ (249) | $ (144) | $ (478) | ||||||||
Bank owned life insurance | (0.50%) | (0.32%) | (1.13%) | ||||||||
Deferred tax revaluation, amount | $ (98) | $ (1,669) | $ 6,552 | ||||||||
Deferred tax revaluation | (0.20%) | (3.70%) | 15.56% | ||||||||
Other items, net, amount | $ 301 | $ 237 | $ 351 | ||||||||
Other items, net | 0.10% | 0.53% | 0.83% | ||||||||
Total income tax expense | $ 2,833 | $ 2,580 | $ 2,951 | $ 2,630 | $ 2,596 | $ 1,118 | $ 2,500 | $ 2,568 | $ 10,994 | $ 8,782 | $ 20,628 |
Income tax at the effective tax rate | 22.24% | 19.46% | 48.98% |
Note 15 - Income Taxes - Signif
Note 15 - Income Taxes - Significant Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Allowance for loan losses | $ 4,312 | $ 4,275 |
Unrealized losses on available-for-sale securities | 87 | |
Unrealized asset losses | 540 | 730 |
Purchase accounting | 3,689 | 24 |
FDIC assisted transactions | 1,597 | 1,510 |
Intangible assets | 745 | 2,430 |
Deferred compensation assets | 4,079 | 3,468 |
Federal net operating loss carryforward | 4,279 | |
Deferred loan fees | 1,247 | 1,201 |
Other | 1,746 | 491 |
Total deferred tax assets | 22,234 | 14,216 |
FDIC indemnification asset | 675 | 1,195 |
Fixed assets | 1,080 | 1,381 |
Odd days interest deferral | 1,912 | 1,614 |
Unrealized gains on available for sale securities | 230 | |
Other | 399 | 460 |
Total deferred tax liabilities | 4,296 | 4,650 |
Net deferred tax asset | $ 17,938 | $ 9,566 |
Note 16 - Accumulated Other C_3
Note 16 - Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance | $ 332,857 | $ 350,714 | $ 339,057 |
Other comprehensive income (loss), net | (77) | (589) | 1,415 |
Balance | 428,819 | 332,857 | 350,714 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||
Balance | (285) | 975 | (544) |
Other comprehensive income (loss) before reclassifications | 1,117 | (1,748) | 972 |
Reclassified from AOCI | 34 | 488 | 413 |
Other comprehensive income (loss), net | 1,151 | (1,260) | 1,385 |
Reclassification of certain tax effects | 134 | ||
Balance | 866 | (285) | 975 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Balance | (1,144) | (1,815) | (1,467) |
Other comprehensive income (loss) before reclassifications | (1,448) | 446 | (132) |
Reclassified from AOCI | 220 | 225 | 162 |
Other comprehensive income (loss), net | (1,228) | 671 | 30 |
Reclassification of certain tax effects | (378) | ||
Balance | (2,372) | (1,144) | (1,815) |
AOCI Attributable to Parent [Member] | |||
Balance | (1,429) | (840) | (2,011) |
Other comprehensive income (loss) before reclassifications | (331) | (1,302) | 840 |
Reclassified from AOCI | 254 | 713 | 575 |
Other comprehensive income (loss), net | (77) | (589) | 1,415 |
Reclassification of certain tax effects | (244) | ||
Balance | $ (1,506) | $ (1,429) | $ (840) |
Note 16 - Accumulated Other C_4
Note 16 - Accumulated Other Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net gain (loss) on sale of securities | $ (43) | $ (618) | $ (43) | $ (618) | $ (661) | ||||||
Income before income taxes | 12,397 | 11,736 | 13,402 | 12,261 | 11,902 | 10,218 | 11,566 | 11,436 | 49,796 | 45,122 | 42,113 |
Income tax benefit | 2,833 | 2,580 | 2,951 | 2,630 | 2,596 | 1,118 | 2,500 | 2,568 | 10,994 | 8,782 | 20,628 |
Net income | $ 9,564 | $ 9,156 | $ 10,451 | $ 9,631 | $ 9,306 | $ 9,100 | $ 9,066 | $ 8,868 | 38,802 | 36,340 | 21,485 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Net income | 254 | 713 | 575 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||||||||
Net gain (loss) on sale of securities | 43 | 618 | 661 | ||||||||
Income before income taxes | 43 | 618 | 661 | ||||||||
Income tax benefit | (9) | (130) | (248) | ||||||||
Net income | 34 | 488 | 413 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | |||||||||||
Other operating expense | 257 | 228 | 228 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | |||||||||||
Other operating expense | 21 | 57 | 31 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||||||||
Income before income taxes | 278 | 285 | 259 | ||||||||
Income tax benefit | (58) | (60) | (97) | ||||||||
Net income | $ 220 | $ 225 | $ 162 |
Note 17 - Fair Value - Assets a
Note 17 - Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale | $ 169,574 | $ 153,116 |
Derivative liabilities | 510 | |
Derivative assets | 12 | |
Fair Value, Recurring [Member] | ||
Securities available for sale | 169,574 | 153,116 |
Equity securities | 55 | 55 |
Fair value loans | 10,358 | 5,412 |
Deferred compensation assets | 3,990 | 3,527 |
Deferred compensation liabilities | 3,990 | 3,527 |
Derivative liabilities | 510 | |
Derivative assets | 12 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Equity securities | 55 | 55 |
Fair value loans | ||
Deferred compensation assets | 3,990 | 3,527 |
Deferred compensation liabilities | 3,990 | 3,527 |
Derivative liabilities | ||
Derivative assets | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 169,574 | 153,116 |
Equity securities | ||
Fair value loans | ||
Deferred compensation assets | ||
Deferred compensation liabilities | ||
Derivative liabilities | 510 | |
Derivative assets | 12 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Equity securities | ||
Fair value loans | 10,358 | 5,412 |
Deferred compensation assets | ||
Deferred compensation liabilities | ||
Derivative liabilities | ||
Derivative assets | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 5,034 | 1,113 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 5,034 | 1,113 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 86,878 | 97,289 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 86,878 | 97,289 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Securities available for sale | 19,960 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 19,960 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | ||
Securities available for sale | 77,662 | 34,754 |
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 77,662 | 34,754 |
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale |
Note 17 - Fair Value - Changes
Note 17 - Fair Value - Changes in Level 3 Fair Value Measurements (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 5,412 | |
Transfer of certain loans into Level 3 | 5,439 | 5,739 |
Changes in fair value | (230) | 1 |
Changes due to principal reduction | (263) | (328) |
Balance | $ 10,358 | $ 5,412 |
Note 17 - Fair Value - Assets M
Note 17 - Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Impaired Loans [Member] | Non-covered Loans [Member] | ||
Total Fair Value | $ 1,828 | $ 3,618 |
Impaired Loans [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | ||
Impaired Loans [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | ||
Impaired Loans [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | 1,828 | 3,618 |
OREO [Member] | Non-covered Loans [Member] | ||
Total Fair Value | 3,969 | 3,806 |
OREO [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | ||
OREO [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | ||
OREO [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | $ 3,969 | 3,806 |
OREO [Member] | Covered Loans [Member] | ||
Total Fair Value | 32 | |
OREO [Member] | Covered Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | ||
OREO [Member] | Covered Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | ||
OREO [Member] | Covered Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | $ 32 |
Note 17 - Fair Value - Quantita
Note 17 - Fair Value - Quantitative Information for Assets Measured at Fair Value on Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - Measurement Input, Discount Rate [Member] - Valuation, Market Approach [Member] | Dec. 31, 2019 | Dec. 31, 2018 | |
Minimum [Member] | |||
Discount range, impaired loans | [1],[2] | 0.22 | 0.15 |
Discount range, non-covered OREO | [1],[2] | 0.15 | 0.01 |
Discount range, covered OREO | [1],[2] | 0.49 | |
Maximum [Member] | |||
Discount range, impaired loans | [1],[2] | 0.36 | 1 |
Discount range, non-covered OREO | [1],[2] | 1 | 0.81 |
Discount range, covered OREO | [1],[2] | 0.49 | |
Weighted Average [Member] | |||
Discount range, impaired loans | [1],[2] | (0.26) | (0.29) |
Discount range, non-covered OREO | [1],[2] | (0.08) | (0.31) |
Discount range, covered OREO | [1],[2] | (0.49) | |
[1] | Appraisals may be adjusted by management for customized discounting criteria, estimated sales costs, and proprietary qualitative adjustments. | ||
[2] | Fair value is generally based on appraisals of the underlying collateral. |
Note 17 - Fair Value - Financia
Note 17 - Fair Value - Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Debt securities available for sale | $ 169,574 | $ 153,116 | |
FDIC indemnification asset | 2,883 | 5,108 | $ 7,161 |
Interest receivable | 6,677 | 5,481 | |
Derivative liabilities | 510 | ||
Derivative assets | 12 | ||
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 217,009 | 76,873 | |
Debt securities available for sale | 169,574 | 153,116 | |
Equity securities | 55 | 55 | |
Loans held for sale | 263 | ||
Loans held for investment, net of allowance | 2,096,035 | 1,756,817 | |
FDIC indemnification asset | 2,883 | 5,108 | |
Interest receivable | 6,677 | 5,481 | |
Deferred compensation assets | 3,990 | 3,527 | |
Securities sold under agreements to repurchase | 1,601 | 29,370 | |
Interest payable | 472 | 618 | |
Deferred compensation liabilities | 3,990 | 3,527 | |
Derivative liabilities | 510 | ||
Debt securities held to maturity | 25,013 | ||
Derivative assets | 12 | ||
Reported Value Measurement [Member] | Bank Time Deposits [Member] | |||
Deposits fair value | 515,622 | 445,661 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 217,009 | 76,873 | |
Debt securities available for sale | 169,574 | 153,116 | |
Equity securities | 55 | 55 | |
Loans held for sale | 263 | ||
Loans held for investment, net of allowance | 2,068,257 | 1,720,114 | |
FDIC indemnification asset | 1,201 | 2,565 | |
Interest receivable | 6,677 | 5,481 | |
Deferred compensation assets | 3,990 | 3,527 | |
Securities sold under agreements to repurchase | 1,601 | 29,389 | |
Interest payable | 472 | 618 | |
Deferred compensation liabilities | 3,990 | 3,527 | |
Derivative liabilities | 510 | ||
Debt securities held to maturity | 24,990 | ||
Derivative assets | 12 | ||
Estimate of Fair Value Measurement [Member] | Bank Time Deposits [Member] | |||
Deposits fair value | 512,134 | 436,018 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 217,009 | 76,873 | |
Debt securities available for sale | |||
Equity securities | 55 | 55 | |
Loans held for sale | |||
Loans held for investment, net of allowance | |||
FDIC indemnification asset | |||
Interest receivable | |||
Deferred compensation assets | 3,990 | 3,527 | |
Securities sold under agreements to repurchase | |||
Interest payable | |||
Deferred compensation liabilities | 3,990 | 3,527 | |
Derivative liabilities | |||
Debt securities held to maturity | |||
Derivative assets | |||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Bank Time Deposits [Member] | |||
Deposits fair value | |||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | |||
Debt securities available for sale | 169,574 | 153,116 | |
Equity securities | |||
Loans held for sale | |||
Loans held for investment, net of allowance | |||
FDIC indemnification asset | |||
Interest receivable | 6,677 | 5,481 | |
Deferred compensation assets | |||
Securities sold under agreements to repurchase | 1,601 | 29,389 | |
Interest payable | 472 | 618 | |
Deferred compensation liabilities | |||
Derivative liabilities | 510 | ||
Debt securities held to maturity | 24,990 | ||
Derivative assets | 12 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Bank Time Deposits [Member] | |||
Deposits fair value | 512,134 | 436,018 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | |||
Debt securities available for sale | |||
Equity securities | |||
Loans held for sale | 263 | ||
Loans held for investment, net of allowance | 2,068,257 | 1,720,114 | |
FDIC indemnification asset | 1,201 | 2,565 | |
Interest receivable | |||
Deferred compensation assets | |||
Securities sold under agreements to repurchase | |||
Interest payable | |||
Deferred compensation liabilities | |||
Derivative liabilities | |||
Debt securities held to maturity | |||
Derivative assets | |||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Bank Time Deposits [Member] | |||
Deposits fair value |
Note 18 - Earnings Per Share -
Note 18 - Earnings Per Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 9,564 | $ 9,156 | $ 10,451 | $ 9,631 | $ 9,306 | $ 9,100 | $ 9,066 | $ 8,868 | $ 38,802 | $ 36,340 | $ 21,485 |
Weighted average common shares outstanding, basic (in shares) | 15,611,093 | 15,603,992 | 15,712,204 | 15,839,424 | 16,201,148 | 16,512,823 | 16,689,398 | 16,955,758 | 15,690,812 | 16,587,504 | 17,002,116 |
Total dilutive effect of potential common shares (in shares) | 65,281 | 78,881 | 75,726 | ||||||||
Weighted average common shares outstanding, diluted (in shares) | 15,670,047 | 15,664,587 | 15,775,320 | 15,920,950 | 16,280,404 | 16,612,416 | 16,788,615 | 17,047,638 | 15,756,093 | 16,666,385 | 17,077,842 |
Basic earnings per common share (in dollars per share) | $ 0.61 | $ 0.59 | $ 0.67 | $ 0.61 | $ 0.58 | $ 0.55 | $ 0.54 | $ 0.52 | $ 2.47 | $ 2.19 | $ 1.26 |
Diluted earnings per common share (in dollars per share) | $ 0.61 | $ 0.58 | $ 0.66 | $ 0.60 | $ 0.57 | $ 0.55 | $ 0.54 | $ 0.52 | $ 2.46 | $ 2.18 | $ 1.26 |
Antidilutive potential common shares (in shares) | 25,878 | 2,755 | 67,701 | ||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||
Dilutive effect of potential common shares (in shares) | 53,907 | 62,417 | 52,205 | ||||||||
Antidilutive potential common shares (in shares) | 25 | 19 | 64,081 | ||||||||
Restricted Stock [Member] | |||||||||||
Dilutive effect of potential common shares (in shares) | 11,374 | 16,464 | 23,521 | ||||||||
Antidilutive potential common shares (in shares) | 25,853 | 2,736 | 3,620 |
Note 19 - Related Party Trans_3
Note 19 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Deposit Liabilities | $ 7,290 | $ 7,300 | |
Related Party Transaction, Expenses from Transactions with Related Party | 150 | 67 | $ 44 |
Operating Lease, Expense | 203 | 318 | 582 |
Due to Other Related Parties | 7 | $ 4 | 63 |
Related Parties [Member] | |||
Operating Lease, Expense | $ 0 | $ 49 |
Note 19 - Related Party Trans_4
Note 19 - Related Party Transactions - Changes in Loans With Related Parties (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Beginning balance | $ 22,033 | $ 19,337 | |
New loans and advances | 3,958 | 7,142 | |
Loan repayments | (5,634) | (4,676) | |
Reclassifications | [1] | (12) | 230 |
Ending balance | $ 20,345 | $ 22,033 | |
[1] | Changes related to the composition of the Company's directors, executive officers, and related insiders |
Note 20 - Litigation, Commitm_3
Note 20 - Litigation, Commitments, and Contingencies - Off-balance Sheet Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Commitments to extend credit | $ 228,716 | $ 215,239 | |
Standby letters of credit and financial guarantees(1) | [1] | 167,612 | 149,494 |
Total off-balance sheet risk | 396,328 | 364,733 | |
Reserve for unfunded commitments | $ 66 | $ 66 | |
[1] | Includes FHLB letters of credit |
Note 21 - Regulatory Requirem_3
Note 21 - Regulatory Requirements and Restrictions (Details Textual) | Jan. 01, 2016 | Jan. 01, 2019 |
Capital Conservation Buffer | 0.625% | 2.50% |
Tier One Capital Securities Phase Out Period | 4 years | |
Capital Conservation Buffer Phase In Amount | 0.625% |
Note 21 - Regulatory Requirem_4
Note 21 - Regulatory Requirements and Restrictions - Company's and Bank's Capital Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Common equity Tier 1 ratio, actual amount | $ 292,241 | $ 236,544 | |
Common equity Tier 1, actual ratio | 14.31% | 13.72% | |
Common equity Tier 1 ratio, required amount | $ 91,926 | $ 77,570 | |
Common equity Tier 1, required ratio | 4.50% | 4.50% | |
Tier 1 risk-based capital ratio, actual amount | $ 292,241 | $ 236,544 | |
Tier 1 risk-based capital, actual ratio | 14.31% | 13.72% | |
Tier 1 risk-based capital ratio, required amount | $ 122,568 | $ 103,427 | |
Tier 1 risk-based capital, required ratio | 6.00% | 6.00% | |
Total risk-based capital ratio, actual amount | $ 310,732 | $ 254,877 | |
Total risk-based capital, actual ratio | 15.21% | 14.79% | |
Total risk-based capital ratio, required amount | $ 163,423 | $ 137,902 | |
Total risk-based capital, required ratio | 8.00% | 8.00% | |
Tier 1 Leverage ratio, actual amount | $ 292,241 | $ 236,544 | |
Tier 1 Leverage, actual ratio | 14.01% | 10.95% | |
Tier 1 Leverage ratio, required amount | $ 83,408 | $ 86,439 | |
Tier 1 Leverage, required ratio | 4.00% | 4.00% | |
First Community Bank [Member] | |||
Common equity Tier 1 ratio, actual amount | $ 262,716 | $ 215,424 | |
Common equity Tier 1, actual ratio | 12.87% | 12.55% | |
Common equity Tier 1 ratio, required amount | $ 91,860 | $ 77,223 | |
Common equity Tier 1, required ratio | 4.50% | 4.50% | |
Tier 1 risk-based capital ratio, actual amount | $ 262,716 | $ 215,424 | |
Tier 1 risk-based capital, actual ratio | 12.87% | 12.55% | |
Tier 1 risk-based capital ratio, required amount | $ 122,480 | $ 102,964 | |
Tier 1 risk-based capital, required ratio | 6.00% | 6.00% | |
Total risk-based capital ratio, actual amount | $ 281,207 | $ 233,757 | |
Total risk-based capital, actual ratio | 13.78% | 13.62% | |
Total risk-based capital ratio, required amount | $ 163,306 | $ 137,285 | |
Total risk-based capital, required ratio | 8.00% | 8.00% | |
Tier 1 Leverage ratio, actual amount | $ 262,716 | $ 215,424 | |
Tier 1 Leverage, actual ratio | 12.61% | 9.98% | |
Tier 1 Leverage ratio, required amount | $ 83,313 | $ 86,376 | |
Tier 1 Leverage, required ratio | 4.00% | 4.00% | |
Common equity Tier 1 to be well capitalized, amount | [1] | $ 132,686 | $ 111,544 |
Common equity Tier 1, to be well capitalized ratio | [1] | 6.50% | 6.50% |
Tier 1 risk-based capital to be well capitalized, amount | [1] | $ 163,306 | $ 137,285 |
Tier 1 risk-based capital, to be well capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital to be well capitalized, amount | [1] | $ 204,133 | $ 171,606 |
Total risk-based capital, to be well capitalized ratio | [1] | 10.00% | 10.00% |
Tier 1 Leverage to be well capitalized, amount | [1] | $ 104,141 | $ 107,970 |
Tier 1 Leverage, to be well capitalized ratio | [1] | 5.00% | 5.00% |
Fully Phased-In [Member] | |||
Common equity Tier 1 ratio, required amount | $ 142,996 | $ 120,664 | |
Common equity Tier 1, required ratio | 7.00% | 6.375% | |
Tier 1 risk-based capital, actual ratio | 8.50% | 7.875% | |
Tier 1 risk-based capital ratio, required amount | $ 173,637 | $ 146,521 | |
Total risk-based capital ratio, required amount | $ 214,493 | $ 180,997 | |
Total risk-based capital, required ratio | 10.50% | 9.875% | |
Fully Phased-In [Member] | First Community Bank [Member] | |||
Common equity Tier 1 ratio, required amount | $ 142,893 | $ 120,124 | |
Common equity Tier 1, required ratio | 7.00% | 6.375% | |
Tier 1 risk-based capital, actual ratio | 8.50% | 7.875% | |
Tier 1 risk-based capital ratio, required amount | $ 173,513 | $ 145,865 | |
Total risk-based capital ratio, required amount | $ 214,339 | $ 180,186 | |
Total risk-based capital, required ratio | 10.50% | 9.875% | |
[1] | Based on prompt corrective action provisions |
Note 22 - Parent Company Fina_3
Note 22 - Parent Company Financial Information - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and due from banks | $ 66,818 | $ 40,421 | ||
Other assets | 101,529 | 74,573 | ||
Total assets | 2,798,847 | 2,244,374 | ||
Total liabilities | 2,370,028 | 1,911,517 | ||
Preferred stock | ||||
Common stock | 18,377 | 16,007 | ||
Additional paid-in capital | 192,413 | 122,486 | ||
Retained earnings | 219,535 | 195,793 | ||
Accumulated other comprehensive loss | (1,506) | (1,429) | ||
Total stockholders' equity | 428,819 | 332,857 | $ 350,714 | $ 339,057 |
Total liabilities and stockholders' equity | 2,798,847 | 2,244,374 | ||
Parent Company [Member] | ||||
Cash and due from banks | 23,998 | 13,726 | ||
Loans to affiliates | 184 | 184 | ||
Investment in subsidiaries | 399,294 | 311,736 | ||
Other assets | 5,888 | 7,717 | ||
Total assets | 429,364 | 333,363 | ||
Other liabilities | 545 | 506 | ||
Total liabilities | 545 | 506 | ||
Preferred stock | ||||
Common stock | 18,377 | 16,007 | ||
Additional paid-in capital | 192,413 | 122,486 | ||
Retained earnings | 219,535 | 195,793 | ||
Accumulated other comprehensive loss | (1,506) | (1,429) | ||
Total stockholders' equity | 428,819 | 332,857 | ||
Total liabilities and stockholders' equity | $ 429,364 | $ 333,363 |
Note 22 - Parent Company Fina_4
Note 22 - Parent Company Financial Information - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other operating expense | $ 11,929 | $ 12,727 | $ 11,841 | ||||||||
Income tax expense | $ 2,833 | $ 2,580 | $ 2,951 | $ 2,630 | $ 2,596 | $ 1,118 | $ 2,500 | $ 2,568 | 10,994 | 8,782 | 20,628 |
Net income | $ 9,564 | $ 9,156 | $ 10,451 | $ 9,631 | $ 9,306 | $ 9,100 | $ 9,066 | $ 8,868 | 38,802 | 36,340 | 21,485 |
Parent Company [Member] | |||||||||||
Cash dividends received from subsidiary bank | 38,500 | 48,000 | 22,720 | ||||||||
Other income | 444 | 306 | 352 | ||||||||
Other operating expense | 1,420 | 2,293 | 2,044 | ||||||||
Income before income taxes and equity in undistributed net income of subsidiaries | 37,524 | 46,013 | 21,028 | ||||||||
Income tax expense | (276) | (595) | (678) | ||||||||
Income before equity in undistributed net income of subsidiaries | 37,800 | 46,608 | 21,706 | ||||||||
Equity in (dividends in excess) of undistributed net income of subsidiaries | 1,002 | (10,268) | (221) | ||||||||
Net income | $ 38,802 | $ 36,340 | $ 21,485 |
Note 22 - Parent Company Fina_5
Note 22 - Parent Company Financial Information - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 9,564 | $ 9,156 | $ 10,451 | $ 9,631 | $ 9,306 | $ 9,100 | $ 9,066 | $ 8,868 | $ 38,802 | $ 36,340 | $ 21,485 |
Decrease in other operating activities | 7,003 | 3,974 | 5,893 | ||||||||
Net cash provided by operating activities | 56,655 | 49,499 | 36,370 | ||||||||
Investing activities | |||||||||||
Net cash provided by investing activities | 171,377 | 49,398 | 67,796 | ||||||||
Payments for repurchase of common stock | 16,362 | 34,412 | 1,263 | ||||||||
Payments of common stock dividends | (15,060) | (21,090) | (11,563) | ||||||||
Net cash used in financing activities | (87,896) | (179,975) | (22,522) | ||||||||
Net increase (decrease) in cash and cash equivalents | 140,136 | (81,078) | 81,644 | ||||||||
Cash and cash equivalents at beginning of period | 76,873 | 157,951 | 76,873 | 157,951 | 76,307 | ||||||
Cash and cash equivalents at end of period | 217,009 | 76,873 | 217,009 | 76,873 | 157,951 | ||||||
Parent Company [Member] | |||||||||||
Net income | 38,802 | 36,340 | 21,485 | ||||||||
Decrease in other operating activities | 1,865 | 1,509 | 656 | ||||||||
Net cash provided by operating activities | 40,667 | 37,849 | 22,141 | ||||||||
Investing activities | |||||||||||
Dividends in excess of undistributed net income of subsidiaries | (1,002) | 10,268 | 221 | ||||||||
Net cash provided by investing activities | (1,002) | 10,268 | 221 | ||||||||
Repayments of long-term debt | (15,464) | ||||||||||
Proceeds from issuance of common stock | 136 | 832 | 738 | ||||||||
Payments for repurchase of common stock | (16,362) | (34,412) | (1,263) | ||||||||
Payments of common stock dividends | (15,060) | (21,090) | (11,563) | ||||||||
Net change in other financing activities | 1,893 | 1,063 | 845 | ||||||||
Net cash used in financing activities | (29,393) | (53,607) | (26,707) | ||||||||
Net increase (decrease) in cash and cash equivalents | 10,272 | (5,490) | (4,345) | ||||||||
Cash and cash equivalents at beginning of period | $ 13,726 | $ 19,216 | 13,726 | 19,216 | 23,561 | ||||||
Cash and cash equivalents at end of period | $ 23,998 | $ 13,726 | $ 23,998 | $ 13,726 | $ 19,216 |
Note 23 - Quarterly Financial_3
Note 23 - Quarterly Financial Data (Unaudited) - Summary of Quarterly Earnings (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | $ 23,370 | $ 23,605 | $ 24,382 | $ 23,611 | $ 25,381 | $ 24,286 | $ 24,297 | $ 24,330 | $ 94,968 | $ 98,294 | $ 95,308 |
Interest expense | 1,313 | 1,384 | 1,393 | 1,425 | 1,502 | 1,961 | 2,035 | 1,951 | 5,515 | 7,449 | 8,090 |
Net interest income | 22,057 | 22,221 | 22,989 | 22,186 | 23,879 | 22,325 | 22,262 | 22,379 | 89,453 | 90,845 | 87,218 |
Provision for loan losses | 91 | 675 | 1,585 | 1,220 | 908 | 495 | 495 | 495 | 3,571 | 2,393 | 2,771 |
Net interest income after provision | 21,966 | 21,546 | 21,404 | 20,966 | 22,971 | 21,830 | 21,767 | 21,884 | 85,882 | 88,452 | 84,447 |
Noninterest income, excluding net gain (loss) on sale of securities | 9,314 | 7,634 | 8,692 | 8,080 | 6,297 | 7,137 | 6,959 | 6,668 | |||
Net loss on sale of securities | (43) | (618) | (43) | (618) | (661) | ||||||
Noninterest expense | 18,883 | 17,444 | 16,651 | 16,785 | 17,366 | 18,131 | 17,160 | 17,116 | 69,763 | 69,773 | 66,902 |
Income before income taxes | 12,397 | 11,736 | 13,402 | 12,261 | 11,902 | 10,218 | 11,566 | 11,436 | 49,796 | 45,122 | 42,113 |
Income tax expense | 2,833 | 2,580 | 2,951 | 2,630 | 2,596 | 1,118 | 2,500 | 2,568 | 10,994 | 8,782 | 20,628 |
Net income | $ 9,564 | $ 9,156 | $ 10,451 | $ 9,631 | $ 9,306 | $ 9,100 | $ 9,066 | $ 8,868 | $ 38,802 | $ 36,340 | $ 21,485 |
Basic (in dollars per share) | $ 0.61 | $ 0.59 | $ 0.67 | $ 0.61 | $ 0.58 | $ 0.55 | $ 0.54 | $ 0.52 | $ 2.47 | $ 2.19 | $ 1.26 |
Diluted (in dollars per share) | 0.61 | 0.58 | 0.66 | 0.60 | 0.57 | 0.55 | 0.54 | 0.52 | $ 2.46 | $ 2.18 | $ 1.26 |
Common dividends declared, per share (in dollars per share) | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.18 | $ 0.66 | |||
Weighted average common shares outstanding, basic (in shares) | 15,611,093 | 15,603,992 | 15,712,204 | 15,839,424 | 16,201,148 | 16,512,823 | 16,689,398 | 16,955,758 | 15,690,812 | 16,587,504 | 17,002,116 |
Weighted average diluted shares outstanding (in shares) | 15,670,047 | 15,664,587 | 15,775,320 | 15,920,950 | 16,280,404 | 16,612,416 | 16,788,615 | 17,047,638 | 15,756,093 | 16,666,385 | 17,077,842 |