Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 01, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | CSBB | |
Entity Registrant Name | CSB BANCORP INC /OH | |
Entity Central Index Key | 880,417 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 2,742,242 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | ||
Cash and due from banks | $ 15,445 | $ 13,590 |
Interest-earning deposits in other banks | 23,351 | 23,248 |
Total cash and cash equivalents | 38,796 | 36,838 |
Securities | ||
Available-for-sale, at fair value | 103,058 | 103,875 |
Held-to-maturity (fair value 2017-$27,213; 2016-$23,444) | 27,169 | 23,883 |
Restricted stock, at cost | 4,614 | 4,614 |
Total securities | 134,841 | 132,372 |
Loans held for sale | 432 | |
Loans | 498,625 | 475,449 |
Less allowance for loan losses | 6,289 | 5,291 |
Net loans | 492,336 | 470,158 |
Premises and equipment, net | 8,633 | 8,749 |
Core deposit intangible | 325 | 383 |
Goodwill | 4,728 | 4,728 |
Bank-owned life insurance | 13,045 | 10,361 |
Accrued interest receivable and other assets | 3,755 | 6,389 |
TOTAL ASSETS | 696,891 | 669,978 |
Deposits | ||
Noninterest-bearing | 169,241 | 167,824 |
Interest-bearing | 377,863 | 372,961 |
Total deposits | 547,104 | 540,785 |
Short-term borrowings | 56,932 | 48,742 |
Other borrowings | 21,781 | 12,385 |
Accrued interest payable and other liabilities | 2,348 | 2,651 |
Total liabilities | 628,165 | 604,563 |
SHAREHOLDERS' EQUITY | ||
Common stock, $6.25 par value. Authorized 9,000,000 shares; issued 2,980,602 shares; outstanding (shares 2017 and 2016 - 2,742,242) | 18,629 | 18,629 |
Additional paid-in capital | 9,815 | 9,815 |
Retained earnings | 44,988 | 42,629 |
Treasury stock at cost (shares 2017 and 2016 - 238,360) | (4,784) | (4,784) |
Accumulated other comprehensive income (loss) | 78 | (874) |
Total shareholders' equity | 68,726 | 65,415 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 696,891 | $ 669,978 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Held-to-maturity, fair value | $ 27,213 | $ 23,444 |
Common stock, par value | $ 6.25 | $ 6.25 |
Common stock, authorized shares | 9,000,000 | 9,000,000 |
Common stock, shares issued | 2,980,602 | 2,980,602 |
Common stock, shares outstanding | 2,742,242 | 2,742,242 |
Treasury stock, at cost | 238,360 | 238,360 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 5,584 | $ 4,966 | $ 11,033 | $ 9,708 |
Taxable securities | 598 | 662 | 1,196 | 1,398 |
Nontaxable securities | 174 | 165 | 339 | 319 |
Other | 57 | 20 | 91 | 49 |
Total interest and dividend income | 6,413 | 5,813 | 12,659 | 11,474 |
INTEREST EXPENSE | ||||
Deposits | 307 | 250 | 574 | 509 |
Short-term borrowings | 35 | 19 | 57 | 36 |
Other borrowings | 121 | 98 | 216 | 198 |
Total interest expense | 463 | 367 | 847 | 743 |
NET INTEREST INCOME | 5,950 | 5,446 | 11,812 | 10,731 |
PROVISION FOR LOAN LOSSES | 845 | 165 | 685 | 329 |
Net interest income, after provision for loan losses | 5,105 | 5,281 | 11,127 | 10,402 |
NONINTEREST INCOME | ||||
Service charges on deposit accounts | 268 | 288 | 559 | 566 |
Trust services | 152 | 218 | 359 | 444 |
Debit card interchange fees | 296 | 271 | 584 | 533 |
Gain on sale of loans, net | 61 | 118 | 103 | 150 |
Other income | 283 | 202 | 561 | 396 |
Total noninterest income | 1,060 | 1,097 | 2,166 | 2,089 |
NONINTEREST EXPENSES | ||||
Salaries and employee benefits | 2,472 | 2,299 | 4,931 | 4,626 |
Occupancy expense | 214 | 233 | 424 | 477 |
Equipment expense | 171 | 169 | 341 | 343 |
Professional and director fees | 234 | 189 | 403 | 363 |
Financial institutions and franchise tax expense | 127 | 107 | 258 | 214 |
Marketing and public relations | 89 | 143 | 167 | 228 |
Software expense | 203 | 198 | 413 | 384 |
Debit card expense | 141 | 114 | 271 | 218 |
Amortization of intangible assets | 29 | 30 | 58 | 60 |
FDIC insurance expense | 52 | 82 | 103 | 165 |
Provision for unfunded loan commitments | (540) | |||
Other expenses | 496 | 498 | 965 | 973 |
Total noninterest expenses | 3,688 | 4,062 | 8,334 | 8,051 |
Income before income taxes | 2,477 | 2,316 | 4,959 | 4,440 |
FEDERAL INCOME TAX PROVISION | 751 | 705 | 1,503 | 1,349 |
NET INCOME | $ 1,726 | $ 1,611 | $ 3,456 | $ 3,091 |
Basic and diluted net earnings per share | $ 0.63 | $ 0.59 | $ 1.26 | $ 1.13 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 1,726 | $ 1,611 | $ 3,456 | $ 3,091 |
Other comprehensive income | ||||
Unrealized gains arising during the period | 916 | 519 | 1,386 | 1,327 |
Amounts reclassified from accumulated other comprehensive income, held-to-maturity | 26 | 270 | 57 | 317 |
Income tax effect | (321) | (268) | (491) | (559) |
Other comprehensive income | 621 | 521 | 952 | 1,085 |
Total comprehensive income | $ 2,347 | $ 2,132 | $ 4,408 | $ 4,176 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) $ in Thousands | USD ($)$ / shares |
Balance at beginning of period at Dec. 31, 2015 | $ 61,266 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 3,091 |
Other comprehensive income (loss) | 1,085 |
Stock options exercised | 7 |
Cash dividends declared | (1,042) |
Balance at end of period at Jun. 30, 2016 | $ 64,407 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ / shares | $ 0.38 |
Balance at beginning of period at Mar. 31, 2016 | $ 62,796 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 1,611 |
Other comprehensive income (loss) | 521 |
Cash dividends declared | (521) |
Balance at end of period at Jun. 30, 2016 | $ 64,407 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ / shares | $ 0.19 |
Balance at beginning of period at Dec. 31, 2016 | $ 65,415 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 3,456 |
Other comprehensive income (loss) | 952 |
Cash dividends declared | (1,097) |
Balance at end of period at Jun. 30, 2017 | $ 68,726 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ / shares | $ 0.40 |
Balance at beginning of period at Mar. 31, 2017 | $ 66,927 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 1,726 |
Other comprehensive income (loss) | 621 |
Cash dividends declared | (548) |
Balance at end of period at Jun. 30, 2017 | $ 68,726 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ / shares | $ 0.20 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) | 6 Months Ended |
Jun. 30, 2016shares | |
Statement of Stockholders' Equity [Abstract] | |
Stock options exercised, shares | 1,246 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Cash Flows [Abstract] | ||
NET CASH FROM OPERATING ACTIVITIES | $ 3,024 | $ 3,185 |
Securities: | ||
Proceeds from repayments, held-to-maturity | 1,447 | 14,263 |
Proceeds from repayments, available-for-sale | 11,187 | 26,566 |
Purchases, available-for-sale | (9,243) | (17,014) |
Purchases, held-to-maturity | (4,700) | (4,000) |
Loan originations, net of repayments | (22,820) | (27,785) |
Property, equipment and software acquisitions | (293) | (930) |
Net cash used in investing activities | (24,422) | (8,900) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 6,319 | (8,545) |
Net change in short-term borrowings | 8,190 | 5,527 |
Proceeds from other borrowings | 10,000 | |
Repayment of other borrowings | (604) | (891) |
Cash dividends paid | (549) | (521) |
Net cash provided by (used in) financing activities | 23,356 | (4,430) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 1,958 | (10,145) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 36,838 | 38,272 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 38,796 | 28,127 |
Cash paid during the year for: | ||
Interest | 836 | 751 |
Income taxes | 2,160 | 1,400 |
Noncash financing activities: | ||
Dividends declared | $ 548 | $ 521 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying condensed consolidated financial statements include the accounts of CSB Bancorp, Inc. and its wholly-owned subsidiaries, The Commercial and Savings Bank (the “Bank”) and CSB Investment Services, LLC (together referred to as the “Company” or “CSB”). All significant intercompany transactions and balances have been eliminated in consolidation. The condensed consolidated financial statements have been prepared without audit. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present fairly the Company’s financial position at June 30, 2017, and the results of operations and changes in cash flows for the periods presented have been made. Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been omitted. The Annual Report for CSB for the year ended December 31, 2016, contains Consolidated Financial Statements and related footnote disclosures, which should be read in conjunction with the accompanying Consolidated Financial Statements. The results of operations for the period ended June 30, 2017 are not necessarily indicative of the operating results for the full year or any future interim period. Certain items in the prior-year financial statements were reclassified to conform to the current-year presentation. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS ASU 2014-09 – Revenue from Contracts with Customers. The amendments in ASU 2014-09 require an entity to recognize revenue upon the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this Update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. FASB issued a one-year deferral for implementation, for public entities with a calendar year-end, the new guidance is effective in the quarter and year beginning January 1, 2018. Because the guidance does not apply to revenue associated with financial instruments, including loans and securities, we do not expect the new standard, or any of the amendments, to result in a material change from our current accounting for revenue because the majority of the Company’s financial instruments are not within the scope of Topic 606. However, we do expect that the standard will result in new disclosure requirements, which are currently being evaluated. ASU 2016-01 – Recognition and Measurement of Financial Assets and Financial Liabilities. This Update sets forth targeted improvements to GAAP including, but not limited to, requiring an entity to recognize the changes in fair value of equity investments in the income statement, requiring public business entities to use the exit price when measuring the fair value of financial instruments for financial statement disclosure purposes, eliminating certain disclosures required by existing GAAP, and providing for additional disclosures. The Update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations. ASU 2016-02 – Leases. This Update sets forth a new lease accounting model for lessors and lessees. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The accounting provided by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Update is effective for fiscal years beginning after December 15, 2018, with early application permitted. Based on the Company’s preliminary analysis of its current portfolio, the impact to the Company’s balance sheet is estimated to result in less than a 1 percent increase in assets and liabilities. This Update is not expected to have a significant impact on the Company’s financial statements. ASU 2016-13 – Financial Instruments – Credit Losses. The Update requires that financial assets be presented at the net amount expected to be collected (i.e. net of expected credit losses), eliminating the probable recognition threshold for credit losses on financial assets measured at amortized cost. The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Update is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted for annual and interim periods beginning after December 15, 2018. We expect the Update will result in an increase in the allowance for credit losses for the estimated life of the financial asset, including an estimate for debt securities. The amount of the increase will be impacted by the portfolio composition and quality at the adoption date, as well as economic conditions and forecasts at that time. A cumulative-effect adjustment to retained earnings is required as of the beginning of the year of adoption. The Company expects to recognize a one-time cumulative effect adjustment to the allowance for loan losses, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of the new guidance on the consolidated financial statements. ASU 2016-15 – Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. Current guidance lacks consistent principles for evaluating the classification of cash payments and receipts in the statement of cash flows. FASB issued the ASU with the intent of reducing diversity in practice with respect to several types of cash flows. The amendments in this Update are effective using a retrospective transition approach for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s statement of cash flows. ASU 2017-04 – Simplifying the Test for Goodwill Impairment. The Update simplifies the goodwill impairment test. Under the new guidance, Step 2 of the goodwill impairment process that requires an entity to determine the implied fair value of its goodwill by assigning fair value to all its assets and liabilities is eliminated. Instead, the entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The new guidance is effective for annual and interim goodwill tests performed in fiscal years beginning after December 15, 2019. Early adoption is permitted. This Update is not expected to have a material impact on the Company’s financial statements. ASU 2017-08 – Premium Amortization on Purchased Callable Debt Securities. The Update amends the guidance related to amortization for certain callable debt securities held at a premium. The new guidance requires the premium to be amortized to the earliest call date. The guidance does not require an accounting change for securities held at a discount. The Update was adopted in the current reporting period and did not have a significant impact on the Company’s financial statements. |
Securities
Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 2 – SECURITIES Securities consist of the following at June 30, 2017 and December 31, 2016: (Dollars in thousands) Amortized Gross Gross Fair value June 30, 2017 Available-for-sale U.S. Treasury security $ 998 $ — $ 1 $ 997 U.S. Government agencies 10,350 1 35 10,316 Mortgage-backed securities of government agencies 53,106 438 210 53,334 Asset-backed securities of government agencies 1,232 — 19 1,213 State and political subdivisions 27,217 443 72 27,588 Corporate bonds 9,598 72 144 9,526 Equity securities 53 31 — 84 Total available-for-sale 102,554 985 481 103,058 Held-to-maturity securities U.S. Government agencies 9,475 23 129 9,369 Mortgage-backed securities of government agencies 12,994 207 81 13,120 State and political subdivisions 4,700 24 — 4,724 Total held-to-maturity 27,169 254 210 27,213 Restricted stock 4,614 — — 4,614 Total securities $ 134,337 $ 1,239 $ 691 $ 134,885 December 31, 2016 Available-for-sale U.S. Treasury security $ 1,001 $ — $ — $ 1,001 U.S. Government agencies 6,500 — 98 6,402 Mortgage-backed securities of government agencies 56,187 239 589 55,837 Other mortgage-backed securities 65 — — 65 Asset-backed securities of government agencies 1,312 — 46 1,266 State and political subdivisions 30,007 140 439 29,708 Corporate bonds 9,632 28 144 9,516 Equity securities 53 27 — 80 Total available-for-sale 104,757 434 1,316 103,875 Held-to-maturity U.S. Government agencies 9,472 17 396 9,093 Mortgage-backed securities of government agencies 14,411 141 201 14,351 Total held-to-maturity 23,883 158 597 23,444 Restricted stock 4,614 — — 4,614 Total securities $ 133,254 $ 592 $ 1,913 $ 131,933 The amortized cost and fair value of debt securities at June 30, 2017, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Fair value Available-for-sale Due in one year or less $ 2,815 $ 2,836 Due after one through five years 21,224 21,370 Due after five through ten years 26,517 26,770 Due after ten years 51,945 51,998 Total debt securities available-for-sale $ 102,501 $ 102,974 Held-to-maturity Due in one year or less $ 4,700 $ 4,724 Due after one through five years 476 499 Due after five through ten years 3,000 2,918 Due after ten years 18,993 19,072 Total debt securities held-to-maturity $ 27,169 $ 27,213 Securities with a fair value of approximately $107 million and $95 million were pledged at June 30, 2017 and December 31, 2016, respectively, to secure public deposits, as well as other deposits and borrowings as required or permitted by law. Restricted stock primarily consists of investments in Federal Home Loan Bank of Cincinnati (FHLB) and Federal Reserve Bank stock. The Bank’s investment in FHLB stock amounted to approximately $4.1 million at June 30, 2017 and December 31, 2016. Federal Reserve Bank stock was $471 thousand at June 30, 2017 and December 31, 2016. There were no proceeds from sales of securities for the three or six month periods ending June 30, 2017 and 2016. The following table presents gross unrealized losses and fair value of securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2017 and December 31, 2016: Securities in a continuous unrealized loss position Less than 12 months 12 months or more Total (Dollars in thousands) Gross Fair Gross Fair Gross Fair June 30, 2017 Available-for-sale U.S. Treasury security $ 1 $ 997 $ — $ — $ 1 $ 997 U.S. Government agencies 35 6,464 — — 35 6,464 Mortgage-backed securities of government agencies 210 20,136 — — 210 20,136 Asset-backed securities of government agencies — — 19 1,213 19 1,213 State and political subdivisions 53 3,597 19 813 72 4,410 Corporate bonds 1 940 143 2,357 144 3,297 Held-to-maturity U.S. Government agencies 129 6,869 — — 129 6,869 Mortgage-backed securities of government agencies — — 81 3,534 81 3,534 Total temporarily impaired securities $ 429 $ 39,003 $ 262 $ 7,917 $ 691 $ 46,920 December 31, 2016 Available-for-sale U.S. Government agencies $ 98 $ 6,402 $ — $ — $ 98 $ 6,402 Mortgage-backed securities of government agencies 589 27,243 — — 589 27,243 Asset-backed securities of government agencies — — 46 1,266 46 1,266 State and political subdivisions 439 19,328 — — 439 19,328 Corporate bonds 33 3,593 111 1,889 144 5,482 Held-to-maturity U.S. Government agencies 396 8,602 — — 396 8,602 Mortgage-backed securities of government agencies 28 2,018 173 3,621 201 5,639 Total temporarily impaired securities $ 1,583 $ 67,186 $ 330 $ 6,776 $ 1,913 $ 73,962 There were forty-one securities in an unrealized loss position at June 30, 2017, eight (8) of which were in a continuous loss position for twelve months or more. At least quarterly, the Company conducts a comprehensive security-level impairment assessment. The assessments are based on the nature of the securities, the extent and duration of the securities in an unrealized loss position, the extent and duration of the loss and management’s intent to sell or if it is more likely than not that management will be required to sell a security before recovery of its amortized cost basis, which may be maturity. Management believes the Company will fully recover the cost of these securities. It does not intend to sell these securities and likely will not be required to sell them before the anticipated recovery of the remaining amortized cost basis, which may be maturity. As a result, management concluded that these securities were not other-than-temporarily impaired at June 30, 2017. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans | NOTE 3 – LOANS Loans consist of the following: (Dollars in thousands) June 30, December 31, Commercial $ 141,285 $ 134,268 Commercial real estate 168,812 159,475 Residential real estate 151,126 144,489 Construction & land development 20,705 23,428 Consumer 16,173 13,308 Total loans before deferred costs 498,101 474,968 Deferred loan costs 524 481 Total Loans $ 498,625 $ 475,449 Loan Origination/Risk Management The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Underwriting standards are designed to promote relationship banking rather than transactional banking. The Company’s management examines current and occasionally projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers; however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single industry. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied loans. With respect to loans to developers and builders that are secured by non-owner occupied properties, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction and land development loans are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates and financial analysis of the developers and property owners. Construction and land development loans are generally based upon estimates of costs and value associated with the completed project. These estimates may be inaccurate. Construction and land development loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risk than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. The Company originates consumer loans utilizing a judgmental underwriting process. To monitor and manage consumer loan risk, policies and procedures are developed and modified, as needed, jointly by line and staff personnel. This activity, coupled with relatively small loan amounts that are spread across many individual borrowers, minimizes risk. The Company maintains an independent loan review department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Loans serviced for others approximated $81.6 million and $85.9 million at June 30, 2017 and December 31, 2016, respectively. Concentrations of Credit Nearly all of the Company’s lending activity occurs within the state of Ohio, including the four (4) counties of Holmes, Stark, Tuscarawas and Wayne, as well as other markets. The majority of the Company’s loan portfolio consists of commercial and commercial real estate loans. As of June 30, 2017 and December 31, 2016, there were no concentrations of loans related to any single industry. Allowance for Loan Losses The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2017 and 2016. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. The increase in the provision for loan losses for the three months ended June 30, 2017 related to commercial and commercial real estate loans was primarily due to the increase in the specific allocation related to two commercial relationships. The decrease in the provision related to residential real estate is due to the improvement in the historical losses of loans in this category. The increase in the provision for loan losses related to commercial real estate was due to the increase in the specific allocation for one commercial real estate relationship, the increase in nonaccrual loans in this category and the increase of special mention loan balances. The decrease in the provision for loan losses for the six months ended June 30, 2017 related to commercial loans was primarily due to the recovery of prior loan charge-offs from one relationship. The increase in the provision for loan losses for the three and six months ended June 30, 2016 related to commercial loans were due to the increase in specific reserve amounts for two commercial relationships, the downgrade of one commercial relationship and the increase in loan volume. The decrease in the provision related to commercial real estate loans for the six month period in 2016 was primarily due to a recovery of a prior charge-off. The increase in the provision for commercial real estate loans for the three month period of 2016 was due to the downgrade of one commercial relationship. Summary of Allowance for Loan Losses (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total Three months ended June 30, 2017 Beginning balance $ 1,704 $ 1,538 $ 1,303 $ 184 $ 165 $ 560 $ 5,454 Provision for loan losses 675 180 (47 ) 38 18 (19 ) 845 Charge-offs (32 ) — — — (2 ) (34 ) Recoveries 15 — 8 — 1 24 Net charge-offs (17 ) — 8 — (1 ) (10 ) Ending balance $ 2,362 $ 1,718 $ 1,264 $ 222 $ 182 $ 541 $ 6,289 Six months ended June 30, 2017 Beginning balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 Provision for loan losses (156 ) 454 67 44 47 229 685 Charge-offs (40 ) — — — (7 ) — (47 ) Recoveries 351 — 8 — 1 — 360 Net charge-offs 311 — 8 — (6 ) — 313 Ending balance $ 2,362 $ 1,718 $ 1,264 $ 222 $ 182 $ 541 $ 6,289 Three months ended June 30, 2016 Beginning balance $ 2,053 $ 1,225 $ 1,084 $ 106 $ 94 $ 443 $ 5,005 Provision for loan losses 326 48 11 21 16 (257 ) 165 Charge-offs (6 ) (12 ) — — — (18 ) Recoveries 3 1 — — — 4 Net charge-offs (3 ) (11 ) — — — (14 ) Ending balance $ 2,376 $ 1,262 $ 1,095 $ 127 $ 110 $ 186 $ 5,156 Six months ended June 30, 2016 Beginning balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 Provision for loan losses 720 (180 ) 7 4 24 (246 ) 329 Charge-offs (15 ) (12 ) — — (1 ) (28 ) Recoveries 7 183 2 — 1 193 Net charge-offs (8 ) 171 2 — — 165 Ending balance $ 2,376 $ 1,262 $ 1,095 $ 127 $ 110 $ 186 $ 5,156 The following table presents the balance in the allowance for loan losses and the ending loan balances by portfolio class and based on the impairment method as of June 30, 2017 and December 31, 2016: (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total June 30, 2017 Allowance for loan losses: Individually evaluated for impairment $ 573 $ 243 $ 25 $ — $ — $ — $ 841 Collectively evaluated for impairment 1,789 1,475 1,239 222 182 541 5,448 Total ending allowance balance $ 2,362 $ 1,718 $ 1,264 $ 222 $ 182 $ 541 $ 6,289 Loans: Loans individually evaluated for impairment $ 3,169 $ 3,693 $ 1,465 $ — $ — $ 8,327 Loans collectively evaluated for impairment 138,116 165,119 149,661 20,705 16,173 489,774 Total ending loans balance $ 141,285 $ 168,812 $ 151,126 $ 20,705 $ 16,173 $ 498,101 December 31, 2016 Allowance for loan losses: Individually evaluated for impairment $ 705 $ — $ 24 $ — $ — $ — $ 729 Collectively evaluated for impairment 1,502 1,264 1,165 178 141 312 4,562 Total ending allowance balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 Loans: Loans individually evaluated for impairment $ 5,028 $ 621 $ 1,507 $ — $ — $ 7,156 Loans collectively evaluated for impairment 129,240 158,854 142,982 23,428 13,308 467,812 Total ending loans balance $ 134,268 $ 159,475 $ 144,489 $ 23,428 $ 13,308 $ 474,968 The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2017 and December 31, 2016: (Dollars in thousands) Unpaid Recorded Recorded Total Related June 30, 2017 Commercial $ 3,181 $ 1,012 $ 2,160 $ 3,172 $ 573 Commercial real estate 3,884 2,456 1,237 3,693 243 Residential real estate 1,643 1,059 409 1,468 25 Total impaired loans $ 8,708 $ 4,527 $ 3,806 $ 8,333 $ 841 December 31, 2016 Commercial $ 5,476 $ 1,690 $ 3,354 $ 5,044 $ 705 Commercial real estate 796 600 21 621 — Residential real estate 1,681 1,036 472 1,508 24 Total impaired loans $ 7,953 $ 3,326 $ 3,847 $ 7,173 $ 729 The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. Three months Six months ended (Dollars in thousands) 2017 2016 2017 2016 Average recorded investment: Commercial $ 2,794 $ 6,579 $ 3,505 $ 6,360 Commercial real estate 3,600 746 2,019 865 Residential real estate 1,540 1,497 1,514 1,518 Average recorded investment in impaired loans $ 7,934 $ 8,822 $ 7,038 $ 8,743 Interest income recognized: Commercial $ 17 $ 56 $ 31 $ 122 Commercial real estate 2 2 2 6 Residential real estate 15 14 30 29 Interest income recognized on a cash basis on impaired loans $ 34 $ 72 $ 63 $ 157 The following table presents the aging of past due loans and nonaccrual loans as of June 30, 2017 and December 31, 2016 by class of loans: (Dollars in thousands) Current 30 - 59 Days 60 - 89 Days 90 Days + Non-Accrual Total Past Total June 30, 2017 Commercial $ 139,066 $ 147 $ — $ — $ 2,072 $ 2,219 $ 141,285 Commercial real estate 165,328 58 — 39 3,387 3,484 168,812 Residential real estate 150,426 174 18 30 478 700 151,126 Construction & land development 20,705 — — — — — 20,705 Consumer 16,047 87 9 — 30 126 16,173 Total Loans $ 491,572 $ 466 $ 27 $ 69 $ 5,967 $ 6,529 $ 498,101 December 31, 2016 Commercial $ 133,630 $ 151 $ 62 $ — $ 425 $ 638 $ 134,268 Commercial real estate 158,504 435 — 39 497 971 159,475 Residential real estate 142,926 816 61 196 490 1,563 144,489 Construction & land development 23,428 — — — — — 23,428 Consumer 13,234 21 16 — 37 74 13,308 Total Loans $ 471,722 $ 1,423 $ 139 $ 235 $ 1,449 $ 3,246 $ 474,968 Troubled Debt Restructurings All troubled debt restructurings (“TDR’s) are individually evaluated for impairment and a related allowance is recorded, as needed. Loans whose terms have been modified as TDR’s totaled $4.9 million as of June 30, 2017, and $6.4 million as of December 31, 2016, with $456 thousand and $711 thousand of specific reserves allocated to those loans, respectively. At June 30, 2017, $2.5 million of the loans classified as TDR’s were performing in accordance with their modified terms. Of the remaining $2.4 million, all were in nonaccrual of interest status. The Company held no foreclosed real estate as of June 30, 2017, or December 31, 2016. Consumer mortgage loans in the process of foreclosure were $225 thousand at June 30, 2017 and $448 thousand at December 31, 2016. The following table presents loans restructured during the three and six month periods ended June 30, 2017 and 2016. (Dollars in thousands) Number of Pre-Modification Post- For the three months ended June 30, 2017 Commercial Real Estate 4 $ 288 $ 288 Residential Real Estate 1 14 14 Total Restructured Loans 5 $ 302 $ 302 For the six months ended June 30, 2017 Commercial Real Estate 4 $ 288 $ 288 Residential Real Estate 1 14 14 Total Restructured Loans 5 $ 302 $ 302 For the three months ended June 30, 2016 Residential Real Estate 3 $ 327 $ 327 Total Restructured Loans 3 $ 327 $ 327 For the six months ended June 30, 2016 Residential Real Estate 3 $ 327 $ 327 Total Restructured Loans 3 $ 327 $ 327 The restructured loans were modified by changing the monthly payment to interest only. No principal reductions were made. There was one commercial loan in the amount of $3.3 million that was restructured in the fourth quarter of 2016 that has defaulted in 2017. None of the loans that were restructured in 2015 have subsequently defaulted in the six month period ended June 30, 2016. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis includes commercial loans with an outstanding balance greater than $300 thousand. This analysis is performed on an annual basis. The Company uses the following definitions for risk ratings: Pass Special Mention Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $300 thousand or are included in groups of homogeneous loans. Based on the most recent analysis performed, the risk category of loans by class is as follows as of June 30, 2017 and December 31, 2016: (Dollars in thousands) Pass Special Substandard Doubtful Not Rated Total June 30, 2017 Commercial $ 114,648 $ 17,640 $ 8,180 $ — $ 817 $ 141,285 Commercial real estate 152,806 10,480 5,008 — 518 168,812 Residential real estate 211 — 112 — 150,803 151,126 Construction & land development 15,282 1,423 648 — 3,352 20,705 Consumer — — — — 16,173 16,173 Total $ 282,947 $ 29,543 $ 13,948 $ — $ 171,663 $ 498,101 December 31, 2016 Commercial $ 116,739 $ 6,874 $ 9,704 $ — $ 951 $ 134,268 Commercial real estate 149,630 4,168 4,766 — 911 159,475 Residential real estate 216 — 175 — 144,098 144,489 Construction & land development 17,183 981 504 — 4,760 23,428 Consumer — — — — 13,308 13,308 Total $ 283,768 $ 12,023 $ 15,149 $ — $ 164,028 $ 474,968 The following table presents loans that are not rated by class of loans as of June 30, 2017 and December 31, 2016. Nonperforming loans include loans past due 90 days or more and loans on nonaccrual of interest status. (Dollars in thousands) Performing Non-Performing Total June 30, 2017 Commercial $ 817 $ — $ 817 Commercial real estate 518 — 518 Residential real estate 150,295 508 150,803 Construction & land development 3,352 — 3,352 Consumer 16,143 30 16,173 Total $ 171,125 $ 538 $ 171,663 December 31, 2016 Commercial $ 951 $ — $ 951 Commercial real estate 911 — 911 Residential real estate 143,440 658 144,098 Construction & land development 4,760 — 4,760 Consumer 13,271 37 13,308 Total $ 163,333 $ 695 $ 164,028 |
Short-Term Borrowings
Short-Term Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | NOTE 4 – SHORT-TERM BORROWINGS The following table provides additional detail regarding repurchase agreements accounted for as secured borrowings. Remaining Contractual (Dollars in thousands) June 30, December 31, Securities of U.S. Government Agencies and mortgage-backed securities of government agencies pledged, fair value $ 57,103 $ 48,866 Repurchase agreements 56,932 48,742 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 5 – FAIR VALUE MEASUREMENTS The Company provides disclosures about assets and liabilities carried at fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. The three broad levels of the fair value hierarchy are described below: Level I: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level II: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by corroborated or other means. If the asset or liability has a specified (contractual) term, the Level II input must be observable for substantially the full term of the asset or liability. Level III: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The following table presents the assets reported on the Consolidated Balance Sheets at their fair value as of June 30, 2017 and December 31, 2016 by level within the fair value hierarchy. No liabilities are carried at fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. (Dollars in thousands) Level I Level II Level Total June 30, 2017 Assets: Securities available-for-sale U.S. Treasury security $ 997 $ — $ — $ 997 U.S. Government agencies — 10,316 — 10,316 Mortgage-backed securities of government agencies — 53,334 — 53,334 Asset-backed securities of government agencies — 1,213 — 1,213 State and political subdivisions — 27,588 — 27,588 Corporate bonds — 9,526 — 9,526 Total debt securities 997 101,977 — 102,974 Equity securities 84 — — 84 Total available-for-sale securities $ 1,081 $ 101,977 $ — $ 103,058 December 31, 2016 Assets: Securities available-for-sale U.S. Treasury security $ 1,001 $ — $ — $ 1,001 U.S. Government agencies — 6,402 — 6,402 Mortgage-backed securities of government agencies — 55,837 — 55,837 Other mortgage-backed securities — 65 — 65 Asset-backed securities of government agencies — 1,266 — 1,266 State and political subdivisions — 29,708 — 29,708 Corporate bonds — 9,516 — 9,516 Total debt securities 1,001 102,794 — 103,795 Equity securities 80 — — 80 Total available-for-sale securities $ 1,081 $ 102,794 $ — $ 103,875 The following table presents the assets measured on a nonrecurring basis on the Consolidated Balance Sheets at their fair value as of June 30, 2017 and December 31, 2016, by level within the fair value hierarchy. Impaired loans are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loans include: quoted market prices for identical assets classified as Level I inputs; and observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. (Dollars in thousands) Level I Level II Level III Total June 30, 2017 Assets measured on a nonrecurring basis: Impaired loans $ — $ — $ 5,577 $ 5,577 December 31, 2016 Assets measured on a nonrecurring basis: Impaired loans $ — $ — $ 6,427 $ 6,427 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level III inputs to determine fair value: Quantitative Information about Level III Fair Value Measurements Fair Value Valuation Unobservable Input Range (Weighted Average) (Dollars in thousands) June 30, 2017 Impaired loans $ 5,128 Discounted cash flow Remaining term Discount rate 1 mo to 29.8 yrs (102 months) 3.5% to 9.8% (5.2%) 449 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) 0% to -50% (-17%) -10% December 31, 2016 Impaired loans $ 5,330 Discounted cash flow Remaining term Discount rate 6 mos to 29.9 yrs / (61.1 mos) 3.1% to 12.0% / (4.9%) 1,097 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) 0% to -50% (-21.7%) -10% (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Investments, All Other Investments [Abstract] | |
Fair Values of Financial Instruments | NOTE 6 – FAIR VALUES OF FINANCIAL INSTRUMENTS The estimated fair values of recognized financial instruments as of June 30, 2017 and December 31, 2016 are as follows: (Dollars in thousands) Carrying Level I Level II Level III Fair Value June 30, 2017 Financial assets Cash and cash equivalents $ 38,796 $ 38,796 $ — $ — $ 38,796 Securities available-for-sale 103,058 1,081 101,977 — 103,058 Securities held-to-maturity 27,169 — 27,213 — 27,213 Restricted stock 4,614 4,614 — — 4,614 Loans held for sale 432 432 — — 432 Net loans 492,336 — — 496,611 496,611 Bank-owned life insurance 13,045 13,045 — — 13,045 Accrued interest receivable 1,440 1,440 — — 1,440 Mortgage servicing rights 260 — — 260 260 Financial liabilities Deposits $ 547,104 $ 436,592 $ — $ 110,825 $ 547,417 Short-term borrowings 56,932 56,932 — — 56,932 Other borrowings 21,781 — — 20,955 20,955 Accrued interest payable 87 87 — — 87 December 31, 2016 Financial assets Cash and cash equivalents $ 36,838 $ 36,838 $ — $ — $ 36,838 Securities available-for-sale 103,875 1,081 102,794 — 103,875 Securities held-to-maturity 23,883 — 23,444 — 23,444 Restricted stock 4,614 4,614 — — 4,614 Net loans 470,158 — — 471,815 471,815 Bank-owned life insurance 10,361 10,361 — — 10,361 Accrued interest receivable 1,409 1,409 — — 1,409 Mortgage servicing rights 261 — — 261 261 Financial liabilities Deposits $ 540,785 $ 428,676 $ — $ 112,642 $ 541,318 Short-term borrowings 48,742 48,742 — — 48,742 Other borrowings 12,385 — — 12,511 12,511 Accrued interest payable 76 76 — — 76 For purposes of the above disclosures of estimated fair value, the following assumptions are used: Cash and cash equivalents; Loans held for sale; Accrued interest receivable; Short-term borrowings and Accrued interest payable The fair value of the above instruments is considered to be carrying value, classified as Level I in the fair value hierarchy. Securities The fair value of securities available-for-sale and securities held-to-maturity which are measured on a recurring basis are determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on securities’ relationship to other similar securities, classified as Level I or Level II in the fair value hierarchy. Net loans The fair value for loans is estimated by discounting future cash flows using current market inputs at which loans with similar terms and qualities would be made to borrowers of similar credit quality. Where quoted market prices were available, primarily for certain residential mortgage loans, such market rates were utilized as estimates for fair value. Fair value of non-accrual loans is based on carrying value, classified as Level III. Bank-owned life insurance The carrying amount of bank-owned life insurance is based on the cash surrender value of the policies and is a reasonable estimate of fair value, classified as Level I. Restricted stock Restricted stock includes Federal Home Loan Bank Stock and Federal Reserve Bank Stock. It is not practicable to determine the fair value of regulatory equity securities due to restrictions placed on their transferability. Fair value is based on carrying value, classified as Level I. Mortgage servicing rights The fair value of mortgage servicing rights is based on a valuation model that calculates the present value of estimated net servicing income. The valuation model incorporates discounted cash flow and repayment assumptions based on management’s best judgment. Deposits The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rates are estimated using market rates currently offered for similar instruments with similar remaining maturities, resulting in a Level III classification. Demand, savings, and money market deposit accounts are valued at the amount payable on demand as of quarter end, resulting in a Level I classification. Other borrowings The fair value of Federal Home Loan Bank advances are estimated using a discounted cash flow analysis based on the current borrowing rates for similar types of borrowings, resulting in a Level III classification. The Company also has unrecognized financial instruments at June 30, 2017 and December 31, 2016. These financial instruments relate to commitments to extend credit and letters of credit. The aggregated contract amount of such financial instruments was approximately $178.5 million at June 30, 2017 and $163.7 million at December 31, 2016. Such amounts are also considered to be the fair values. The fair value estimates of financial instruments are made at a specific point in time based on relevant market information. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire holdings of a particular financial instrument over the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Since no ready market exists for a significant portion of the financial instruments, fair value estimates are largely based on judgments after considering such factors as future expected credit losses, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | NOTE 7- ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in accumulated other comprehensive income (loss) by component net of tax for the three and six month periods ended June 30, 2017 and 2016: (Dollars in thousands) Pretax Tax After-tax Three months ended June 30, 2017 Balance as of March 31, 2017 $ (821 ) $ 278 $ (543 ) Unrealized holding gain on available-for-sale securities arising during the period 916 (312 ) 604 Amortization of held-to-maturity discount resulting from transfer 26 (9 ) 17 Total other comprehensive income 942 (321 ) 621 Balance as of June 30, 2017 $ 121 $ (43 ) $ 78 Six months ended June 30, 2017 Balance as of December 31, 2016 $ (1,323 ) $ 449 $ (874 ) Unrealized holding gain on available-for-sale securities arising during the period 1,386 (471 ) 915 Amortization of held-to-maturity discount resulting from transfer 58 (21 ) 37 Total other comprehensive income 1,444 (492 ) 952 Balance as of June 30, 2017 $ 121 $ (43 ) $ 78 Three months ended June 30, 2016 Balance as of March 31, 2016 $ 223 $ (76 ) $ 147 Unrealized holding gain on available-for-sale securities arising during the period 519 (176 ) 343 Amortization of held-to-maturity discount resulting from transfer 271 (93 ) 178 Total other comprehensive income 790 (269 ) 521 Balance as of June 30, 2016 $ 1,013 $ (345 ) $ 668 Six months ended June 30, 2016 Balance as of December 31, 2015 $ (631 ) $ 214 $ (417 ) Unrealized holding gain on available-for-sale securities arising during the period 1,327 (451 ) 876 Amortization of held-to-maturity discount resulting from transfer 317 (108 ) 209 Total other comprehensive income 1,644 (559 ) 1,085 Balance as of June 30, 2016 $ 1,013 $ (345 ) $ 668 |
Summary of Significant Accoun16
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Revenue Recognition | ASU 2014-09 – Revenue from Contracts with Customers. The amendments in ASU 2014-09 require an entity to recognize revenue upon the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this Update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. FASB issued a one-year deferral for implementation, for public entities with a calendar year-end, the new guidance is effective in the quarter and year beginning January 1, 2018. Because the guidance does not apply to revenue associated with financial instruments, including loans and securities, we do not expect the new standard, or any of the amendments, to result in a material change from our current accounting for revenue because the majority of the Company’s financial instruments are not within the scope of Topic 606. However, we do expect that the standard will result in new disclosure requirements, which are currently being evaluated. |
Financial Instruments | ASU 2016-01 – Recognition and Measurement of Financial Assets and Financial Liabilities. This Update sets forth targeted improvements to GAAP including, but not limited to, requiring an entity to recognize the changes in fair value of equity investments in the income statement, requiring public business entities to use the exit price when measuring the fair value of financial instruments for financial statement disclosure purposes, eliminating certain disclosures required by existing GAAP, and providing for additional disclosures. The Update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations. |
Lease | ASU 2016-02 – Leases. This Update sets forth a new lease accounting model for lessors and lessees. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The accounting provided by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Update is effective for fiscal years beginning after December 15, 2018, with early application permitted. Based on the Company’s preliminary analysis of its current portfolio, the impact to the Company’s balance sheet is estimated to result in less than a 1 percent increase in assets and liabilities. This Update is not expected to have a significant impact on the Company’s financial statements. |
Credit Losses | ASU 2016-13 – Financial Instruments – Credit Losses. The Update requires that financial assets be presented at the net amount expected to be collected (i.e. net of expected credit losses), eliminating the probable recognition threshold for credit losses on financial assets measured at amortized cost. The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Update is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted for annual and interim periods beginning after December 15, 2018. We expect the Update will result in an increase in the allowance for credit losses for the estimated life of the financial asset, including an estimate for debt securities. The amount of the increase will be impacted by the portfolio composition and quality at the adoption date, as well as economic conditions and forecasts at that time. A cumulative-effect adjustment to retained earnings is required as of the beginning of the year of adoption. The Company expects to recognize a one-time cumulative effect adjustment to the allowance for loan losses, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of the new guidance on the consolidated financial statements. |
Classification of Certain Cash Receipts and Cash Payments | ASU 2016-15 – Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. Current guidance lacks consistent principles for evaluating the classification of cash payments and receipts in the statement of cash flows. FASB issued the ASU with the intent of reducing diversity in practice with respect to several types of cash flows. The amendments in this Update are effective using a retrospective transition approach for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s statement of cash flows. |
Goodwill Impairment | ASU 2017-04 – Simplifying the Test for Goodwill Impairment. The Update simplifies the goodwill impairment test. Under the new guidance, Step 2 of the goodwill impairment process that requires an entity to determine the implied fair value of its goodwill by assigning fair value to all its assets and liabilities is eliminated. Instead, the entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The new guidance is effective for annual and interim goodwill tests performed in fiscal years beginning after December 15, 2019. Early adoption is permitted. This Update is not expected to have a material impact on the Company’s financial statements. |
Premium Amortization on Purchased Callable Debt Securities | ASU 2017-08 – Premium Amortization on Purchased Callable Debt Securities. The Update amends the guidance related to amortization for certain callable debt securities held at a premium. The new guidance requires the premium to be amortized to the earliest call date. The guidance does not require an accounting change for securities held at a discount. The Update was adopted in the current reporting period and did not have a significant impact on the Company’s financial statements. |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Securities Available-for-Sale and Restricted Stock | Securities consist of the following at June 30, 2017 and December 31, 2016: (Dollars in thousands) Amortized Gross Gross Fair value June 30, 2017 Available-for-sale U.S. Treasury security $ 998 $ — $ 1 $ 997 U.S. Government agencies 10,350 1 35 10,316 Mortgage-backed securities of government agencies 53,106 438 210 53,334 Asset-backed securities of government agencies 1,232 — 19 1,213 State and political subdivisions 27,217 443 72 27,588 Corporate bonds 9,598 72 144 9,526 Equity securities 53 31 — 84 Total available-for-sale 102,554 985 481 103,058 Held-to-maturity securities U.S. Government agencies 9,475 23 129 9,369 Mortgage-backed securities of government agencies 12,994 207 81 13,120 State and political subdivisions 4,700 24 — 4,724 Total held-to-maturity 27,169 254 210 27,213 Restricted stock 4,614 — — 4,614 Total securities $ 134,337 $ 1,239 $ 691 $ 134,885 December 31, 2016 Available-for-sale U.S. Treasury security $ 1,001 $ — $ — $ 1,001 U.S. Government agencies 6,500 — 98 6,402 Mortgage-backed securities of government agencies 56,187 239 589 55,837 Other mortgage-backed securities 65 — — 65 Asset-backed securities of government agencies 1,312 — 46 1,266 State and political subdivisions 30,007 140 439 29,708 Corporate bonds 9,632 28 144 9,516 Equity securities 53 27 — 80 Total available-for-sale 104,757 434 1,316 103,875 Held-to-maturity U.S. Government agencies 9,472 17 396 9,093 Mortgage-backed securities of government agencies 14,411 141 201 14,351 Total held-to-maturity 23,883 158 597 23,444 Restricted stock 4,614 — — 4,614 Total securities $ 133,254 $ 592 $ 1,913 $ 131,933 |
Summary of Amortized Cost and Fair Value of Debt Securities | The amortized cost and fair value of debt securities at June 30, 2017, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Fair value Available-for-sale Due in one year or less $ 2,815 $ 2,836 Due after one through five years 21,224 21,370 Due after five through ten years 26,517 26,770 Due after ten years 51,945 51,998 Total debt securities available-for-sale $ 102,501 $ 102,974 Held-to-maturity Due in one year or less $ 4,700 $ 4,724 Due after one through five years 476 499 Due after five through ten years 3,000 2,918 Due after ten years 18,993 19,072 Total debt securities held-to-maturity $ 27,169 $ 27,213 |
Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities | The following table presents gross unrealized losses and fair value of securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2017 and December 31, 2016: Securities in a continuous unrealized loss position Less than 12 months 12 months or more Total (Dollars in thousands) Gross Fair Gross Fair Gross Fair June 30, 2017 Available-for-sale U.S. Treasury security $ 1 $ 997 $ — $ — $ 1 $ 997 U.S. Government agencies 35 6,464 — — 35 6,464 Mortgage-backed securities of government agencies 210 20,136 — — 210 20,136 Asset-backed securities of government agencies — — 19 1,213 19 1,213 State and political subdivisions 53 3,597 19 813 72 4,410 Corporate bonds 1 940 143 2,357 144 3,297 Held-to-maturity U.S. Government agencies 129 6,869 — — 129 6,869 Mortgage-backed securities of government agencies — — 81 3,534 81 3,534 Total temporarily impaired securities $ 429 $ 39,003 $ 262 $ 7,917 $ 691 $ 46,920 December 31, 2016 Available-for-sale U.S. Government agencies $ 98 $ 6,402 $ — $ — $ 98 $ 6,402 Mortgage-backed securities of government agencies 589 27,243 — — 589 27,243 Asset-backed securities of government agencies — — 46 1,266 46 1,266 State and political subdivisions 439 19,328 — — 439 19,328 Corporate bonds 33 3,593 111 1,889 144 5,482 Held-to-maturity U.S. Government agencies 396 8,602 — — 396 8,602 Mortgage-backed securities of government agencies 28 2,018 173 3,621 201 5,639 Total temporarily impaired securities $ 1,583 $ 67,186 $ 330 $ 6,776 $ 1,913 $ 73,962 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Summary of Loans | Loans consist of the following: (Dollars in thousands) June 30, December 31, Commercial $ 141,285 $ 134,268 Commercial real estate 168,812 159,475 Residential real estate 151,126 144,489 Construction & land development 20,705 23,428 Consumer 16,173 13,308 Total loans before deferred costs 498,101 474,968 Deferred loan costs 524 481 Total Loans $ 498,625 $ 475,449 |
Schedule of Allowances for Loan Losses by Portfolio Segment | The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2017 and 2016. (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total Three months ended June 30, 2017 Beginning balance $ 1,704 $ 1,538 $ 1,303 $ 184 $ 165 $ 560 $ 5,454 Provision for loan losses 675 180 (47 ) 38 18 (19 ) 845 Charge-offs (32 ) — — — (2 ) (34 ) Recoveries 15 — 8 — 1 24 Net charge-offs (17 ) — 8 — (1 ) (10 ) Ending balance $ 2,362 $ 1,718 $ 1,264 $ 222 $ 182 $ 541 $ 6,289 Six months ended June 30, 2017 Beginning balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 Provision for loan losses (156 ) 454 67 44 47 229 685 Charge-offs (40 ) — — — (7 ) — (47 ) Recoveries 351 — 8 — 1 — 360 Net charge-offs 311 — 8 — (6 ) — 313 Ending balance $ 2,362 $ 1,718 $ 1,264 $ 222 $ 182 $ 541 $ 6,289 Three months ended June 30, 2016 Beginning balance $ 2,053 $ 1,225 $ 1,084 $ 106 $ 94 $ 443 $ 5,005 Provision for loan losses 326 48 11 21 16 (257 ) 165 Charge-offs (6 ) (12 ) — — — (18 ) Recoveries 3 1 — — — 4 Net charge-offs (3 ) (11 ) — — — (14 ) Ending balance $ 2,376 $ 1,262 $ 1,095 $ 127 $ 110 $ 186 $ 5,156 Six months ended June 30, 2016 Beginning balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 Provision for loan losses 720 (180 ) 7 4 24 (246 ) 329 Charge-offs (15 ) (12 ) — — (1 ) (28 ) Recoveries 7 183 2 — 1 193 Net charge-offs (8 ) 171 2 — — 165 Ending balance $ 2,376 $ 1,262 $ 1,095 $ 127 $ 110 $ 186 $ 5,156 |
Allowances for Loan Losses and Ending Balances by Portfolio Class and Based on Impairment Method | The following table presents the balance in the allowance for loan losses and the ending loan balances by portfolio class and based on the impairment method as of June 30, 2017 and December 31, 2016: (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total June 30, 2017 Allowance for loan losses: Individually evaluated for impairment $ 573 $ 243 $ 25 $ — $ — $ — $ 841 Collectively evaluated for impairment 1,789 1,475 1,239 222 182 541 5,448 Total ending allowance balance $ 2,362 $ 1,718 $ 1,264 $ 222 $ 182 $ 541 $ 6,289 Loans: Loans individually evaluated for impairment $ 3,169 $ 3,693 $ 1,465 $ — $ — $ 8,327 Loans collectively evaluated for impairment 138,116 165,119 149,661 20,705 16,173 489,774 Total ending loans balance $ 141,285 $ 168,812 $ 151,126 $ 20,705 $ 16,173 $ 498,101 December 31, 2016 Allowance for loan losses: Individually evaluated for impairment $ 705 $ — $ 24 $ — $ — $ — $ 729 Collectively evaluated for impairment 1,502 1,264 1,165 178 141 312 4,562 Total ending allowance balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 Loans: Loans individually evaluated for impairment $ 5,028 $ 621 $ 1,507 $ — $ — $ 7,156 Loans collectively evaluated for impairment 129,240 158,854 142,982 23,428 13,308 467,812 Total ending loans balance $ 134,268 $ 159,475 $ 144,489 $ 23,428 $ 13,308 $ 474,968 |
Schedule of Impairment by Class of Loans | The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2017 and December 31, 2016: (Dollars in thousands) Unpaid Recorded Recorded Total Related June 30, 2017 Commercial $ 3,181 $ 1,012 $ 2,160 $ 3,172 $ 573 Commercial real estate 3,884 2,456 1,237 3,693 243 Residential real estate 1,643 1,059 409 1,468 25 Total impaired loans $ 8,708 $ 4,527 $ 3,806 $ 8,333 $ 841 December 31, 2016 Commercial $ 5,476 $ 1,690 $ 3,354 $ 5,044 $ 705 Commercial real estate 796 600 21 621 — Residential real estate 1,681 1,036 472 1,508 24 Total impaired loans $ 7,953 $ 3,326 $ 3,847 $ 7,173 $ 729 |
Schedule of Average Recorded Investment in Impaired Loans and Related Interest Income Recognized | The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. Three months Six months ended (Dollars in thousands) 2017 2016 2017 2016 Average recorded investment: Commercial $ 2,794 $ 6,579 $ 3,505 $ 6,360 Commercial real estate 3,600 746 2,019 865 Residential real estate 1,540 1,497 1,514 1,518 Average recorded investment in impaired loans $ 7,934 $ 8,822 $ 7,038 $ 8,743 Interest income recognized: Commercial $ 17 $ 56 $ 31 $ 122 Commercial real estate 2 2 2 6 Residential real estate 15 14 30 29 Interest income recognized on a cash basis on impaired loans $ 34 $ 72 $ 63 $ 157 |
Schedule of Aging of Past Due and Nonaccrual Loans | The following table presents the aging of past due loans and nonaccrual loans as of June 30, 2017 and December 31, 2016 by class of loans: (Dollars in thousands) Current 30 - 59 Days 60 - 89 Days 90 Days + Non-Accrual Total Past Total June 30, 2017 Commercial $ 139,066 $ 147 $ — $ — $ 2,072 $ 2,219 $ 141,285 Commercial real estate 165,328 58 — 39 3,387 3,484 168,812 Residential real estate 150,426 174 18 30 478 700 151,126 Construction & land development 20,705 — — — — — 20,705 Consumer 16,047 87 9 — 30 126 16,173 Total Loans $ 491,572 $ 466 $ 27 $ 69 $ 5,967 $ 6,529 $ 498,101 December 31, 2016 Commercial $ 133,630 $ 151 $ 62 $ — $ 425 $ 638 $ 134,268 Commercial real estate 158,504 435 — 39 497 971 159,475 Residential real estate 142,926 816 61 196 490 1,563 144,489 Construction & land development 23,428 — — — — — 23,428 Consumer 13,234 21 16 — 37 74 13,308 Total Loans $ 471,722 $ 1,423 $ 139 $ 235 $ 1,449 $ 3,246 $ 474,968 |
Summary of Troubled Debt Restructurings | The following table presents loans restructured during the three and six month periods ended June 30, 2017 and 2016. (Dollars in thousands) Number of Pre-Modification Post- For the three months ended June 30, 2017 Commercial Real Estate 4 $ 288 $ 288 Residential Real Estate 1 14 14 Total Restructured Loans 5 $ 302 $ 302 For the six months ended June 30, 2017 Commercial Real Estate 4 $ 288 $ 288 Residential Real Estate 1 14 14 Total Restructured Loans 5 $ 302 $ 302 For the three months ended June 30, 2016 Residential Real Estate 3 $ 327 $ 327 Total Restructured Loans 3 $ 327 $ 327 For the six months ended June 30, 2016 Residential Real Estate 3 $ 327 $ 327 Total Restructured Loans 3 $ 327 $ 327 |
Summary of Loans by Credit Quality Indicator | Based on the most recent analysis performed, the risk category of loans by class is as follows as of June 30, 2017 and December 31, 2016: (Dollars in thousands) Pass Special Substandard Doubtful Not Rated Total June 30, 2017 Commercial $ 114,648 $ 17,640 $ 8,180 $ — $ 817 $ 141,285 Commercial real estate 152,806 10,480 5,008 — 518 168,812 Residential real estate 211 — 112 — 150,803 151,126 Construction & land development 15,282 1,423 648 — 3,352 20,705 Consumer — — — — 16,173 16,173 Total $ 282,947 $ 29,543 $ 13,948 $ — $ 171,663 $ 498,101 December 31, 2016 Commercial $ 116,739 $ 6,874 $ 9,704 $ — $ 951 $ 134,268 Commercial real estate 149,630 4,168 4,766 — 911 159,475 Residential real estate 216 — 175 — 144,098 144,489 Construction & land development 17,183 981 504 — 4,760 23,428 Consumer — — — — 13,308 13,308 Total $ 283,768 $ 12,023 $ 15,149 $ — $ 164,028 $ 474,968 |
Schedule of Loans Not Rated by Class of Loans | The following table presents loans that are not rated by class of loans as of June 30, 2017 and December 31, 2016. Nonperforming loans include loans past due 90 days or more and loans on nonaccrual of interest status. (Dollars in thousands) Performing Non-Performing Total June 30, 2017 Commercial $ 817 $ — $ 817 Commercial real estate 518 — 518 Residential real estate 150,295 508 150,803 Construction & land development 3,352 — 3,352 Consumer 16,143 30 16,173 Total $ 171,125 $ 538 $ 171,663 December 31, 2016 Commercial $ 951 $ — $ 951 Commercial real estate 911 — 911 Residential real estate 143,440 658 144,098 Construction & land development 4,760 — 4,760 Consumer 13,271 37 13,308 Total $ 163,333 $ 695 $ 164,028 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Repurchase Agreements Accounted for as Secured Borrowings | The following table provides additional detail regarding repurchase agreements accounted for as secured borrowings. Remaining Contractual (Dollars in thousands) June 30, December 31, Securities of U.S. Government Agencies and mortgage-backed securities of government agencies pledged, fair value $ 57,103 $ 48,866 Repurchase agreements 56,932 48,742 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Assets Measured on Recurring Basis | The following table presents the assets reported on the Consolidated Balance Sheets at their fair value as of June 30, 2017 and December 31, 2016 by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level Total June 30, 2017 Assets: Securities available-for-sale U.S. Treasury security $ 997 $ — $ — $ 997 U.S. Government agencies — 10,316 — 10,316 Mortgage-backed securities of government agencies — 53,334 — 53,334 Asset-backed securities of government agencies — 1,213 — 1,213 State and political subdivisions — 27,588 — 27,588 Corporate bonds — 9,526 — 9,526 Total debt securities 997 101,977 — 102,974 Equity securities 84 — — 84 Total available-for-sale securities $ 1,081 $ 101,977 $ — $ 103,058 December 31, 2016 Assets: Securities available-for-sale U.S. Treasury security $ 1,001 $ — $ — $ 1,001 U.S. Government agencies — 6,402 — 6,402 Mortgage-backed securities of government agencies — 55,837 — 55,837 Other mortgage-backed securities — 65 — 65 Asset-backed securities of government agencies — 1,266 — 1,266 State and political subdivisions — 29,708 — 29,708 Corporate bonds — 9,516 — 9,516 Total debt securities 1,001 102,794 — 103,795 Equity securities 80 — — 80 Total available-for-sale securities $ 1,081 $ 102,794 $ — $ 103,875 |
Schedule of Fair Value of Assets Measured on Nonrecurring Basis | The following table presents the assets measured on a nonrecurring basis on the Consolidated Balance Sheets at their fair value as of June 30, 2017 and December 31, 2016, by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level III Total June 30, 2017 Assets measured on a nonrecurring basis: Impaired loans $ — $ — $ 5,577 $ 5,577 December 31, 2016 Assets measured on a nonrecurring basis: Impaired loans $ — $ — $ 6,427 $ 6,427 |
Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level III inputs to determine fair value: Quantitative Information about Level III Fair Value Measurements Fair Value Valuation Unobservable Input Range (Weighted Average) (Dollars in thousands) June 30, 2017 Impaired loans $ 5,128 Discounted cash flow Remaining term Discount rate 1 mo to 29.8 yrs (102 months) 3.5% to 9.8% (5.2%) 449 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) 0% to -50% (-17%) -10% December 31, 2016 Impaired loans $ 5,330 Discounted cash flow Remaining term Discount rate 6 mos to 29.9 yrs / (61.1 mos) 3.1% to 12.0% / (4.9%) 1,097 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) 0% to -50% (-21.7%) -10% (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Fair Values of Financial Inst21
Fair Values of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, All Other Investments [Abstract] | |
Schedule of Estimated Fair Values of Recognized Financial Instruments | The estimated fair values of recognized financial instruments as of June 30, 2017 and December 31, 2016 are as follows: (Dollars in thousands) Carrying Level I Level II Level III Fair Value June 30, 2017 Financial assets Cash and cash equivalents $ 38,796 $ 38,796 $ — $ — $ 38,796 Securities available-for-sale 103,058 1,081 101,977 — 103,058 Securities held-to-maturity 27,169 — 27,213 — 27,213 Restricted stock 4,614 4,614 — — 4,614 Loans held for sale 432 432 — — 432 Net loans 492,336 — — 496,611 496,611 Bank-owned life insurance 13,045 13,045 — — 13,045 Accrued interest receivable 1,440 1,440 — — 1,440 Mortgage servicing rights 260 — — 260 260 Financial liabilities Deposits $ 547,104 $ 436,592 $ — $ 110,825 $ 547,417 Short-term borrowings 56,932 56,932 — — 56,932 Other borrowings 21,781 — — 20,955 20,955 Accrued interest payable 87 87 — — 87 December 31, 2016 Financial assets Cash and cash equivalents $ 36,838 $ 36,838 $ — $ — $ 36,838 Securities available-for-sale 103,875 1,081 102,794 — 103,875 Securities held-to-maturity 23,883 — 23,444 — 23,444 Restricted stock 4,614 4,614 — — 4,614 Net loans 470,158 — — 471,815 471,815 Bank-owned life insurance 10,361 10,361 — — 10,361 Accrued interest receivable 1,409 1,409 — — 1,409 Mortgage servicing rights 261 — — 261 261 Financial liabilities Deposits $ 540,785 $ 428,676 $ — $ 112,642 $ 541,318 Short-term borrowings 48,742 48,742 — — 48,742 Other borrowings 12,385 — — 12,511 12,511 Accrued interest payable 76 76 — — 76 |
Accumulated Other Comprehensi22
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax | The following table presents the changes in accumulated other comprehensive income (loss) by component net of tax for the three and six month periods ended June 30, 2017 and 2016: (Dollars in thousands) Pretax Tax After-tax Three months ended June 30, 2017 Balance as of March 31, 2017 $ (821 ) $ 278 $ (543 ) Unrealized holding gain on available-for-sale securities arising during the period 916 (312 ) 604 Amortization of held-to-maturity discount resulting from transfer 26 (9 ) 17 Total other comprehensive income 942 (321 ) 621 Balance as of June 30, 2017 $ 121 $ (43 ) $ 78 Six months ended June 30, 2017 Balance as of December 31, 2016 $ (1,323 ) $ 449 $ (874 ) Unrealized holding gain on available-for-sale securities arising during the period 1,386 (471 ) 915 Amortization of held-to-maturity discount resulting from transfer 58 (21 ) 37 Total other comprehensive income 1,444 (492 ) 952 Balance as of June 30, 2017 $ 121 $ (43 ) $ 78 Three months ended June 30, 2016 Balance as of March 31, 2016 $ 223 $ (76 ) $ 147 Unrealized holding gain on available-for-sale securities arising during the period 519 (176 ) 343 Amortization of held-to-maturity discount resulting from transfer 271 (93 ) 178 Total other comprehensive income 790 (269 ) 521 Balance as of June 30, 2016 $ 1,013 $ (345 ) $ 668 Six months ended June 30, 2016 Balance as of December 31, 2015 $ (631 ) $ 214 $ (417 ) Unrealized holding gain on available-for-sale securities arising during the period 1,327 (451 ) 876 Amortization of held-to-maturity discount resulting from transfer 317 (108 ) 209 Total other comprehensive income 1,644 (559 ) 1,085 Balance as of June 30, 2016 $ 1,013 $ (345 ) $ 668 |
Securities - Summary of Securit
Securities - Summary of Securities Available-for-Sale and Restricted Stock (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | $ 102,554 | $ 104,757 |
Gross Unrealized Gains, Available-for-sale | 985 | 434 |
Gross Unrealized Losses, Available-for-sale | 481 | 1,316 |
Fair Value, Available-for-sale | 103,058 | 103,875 |
Amortized Cost, Held to maturity | 27,169 | 23,883 |
Gross Unrealized Gains, Held to maturity | 254 | 158 |
Gross Unrealized Losses, Held to maturity | 210 | 597 |
Fair Value, Held to maturity | 27,213 | 23,444 |
Amortized Cost | 134,337 | 133,254 |
Gross Unrealized Gains | 1,239 | 592 |
Gross Unrealized Losses | 691 | 1,913 |
Fair Value | 134,885 | 131,933 |
U.S. Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 10,350 | 6,500 |
Gross Unrealized Gains, Available-for-sale | 1 | |
Gross Unrealized Losses, Available-for-sale | 35 | 98 |
Fair Value, Available-for-sale | 10,316 | 6,402 |
Amortized Cost, Held to maturity | 9,475 | 9,472 |
Gross Unrealized Gains, Held to maturity | 23 | 17 |
Gross Unrealized Losses, Held to maturity | 129 | 396 |
Fair Value, Held to maturity | 9,369 | 9,093 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 53,106 | 56,187 |
Gross Unrealized Gains, Available-for-sale | 438 | 239 |
Gross Unrealized Losses, Available-for-sale | 210 | 589 |
Fair Value, Available-for-sale | 53,334 | 55,837 |
Amortized Cost, Held to maturity | 12,994 | 14,411 |
Gross Unrealized Gains, Held to maturity | 207 | 141 |
Gross Unrealized Losses, Held to maturity | 81 | 201 |
Fair Value, Held to maturity | 13,120 | 14,351 |
State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 27,217 | 30,007 |
Gross Unrealized Gains, Available-for-sale | 443 | 140 |
Gross Unrealized Losses, Available-for-sale | 72 | 439 |
Fair Value, Available-for-sale | 27,588 | 29,708 |
Amortized Cost, Held to maturity | 4,700 | |
Gross Unrealized Gains, Held to maturity | 24 | |
Fair Value, Held to maturity | 4,724 | |
U.S. Treasury Security [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 998 | 1,001 |
Gross Unrealized Losses, Available-for-sale | 1 | |
Fair Value, Available-for-sale | 997 | 1,001 |
Other Mortgage-Backed Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 65 | |
Fair Value, Available-for-sale | 65 | |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 1,232 | 1,312 |
Gross Unrealized Losses, Available-for-sale | 19 | 46 |
Fair Value, Available-for-sale | 1,213 | 1,266 |
Corporate Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 9,598 | 9,632 |
Gross Unrealized Gains, Available-for-sale | 72 | 28 |
Gross Unrealized Losses, Available-for-sale | 144 | 144 |
Fair Value, Available-for-sale | 9,526 | 9,516 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 53 | 53 |
Gross Unrealized Gains, Available-for-sale | 31 | 27 |
Fair Value, Available-for-sale | 84 | 80 |
Restricted Stock [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost | 4,614 | 4,614 |
Fair Value | $ 4,614 | $ 4,614 |
Securities - Summary of Amortiz
Securities - Summary of Amortized Cost and Fair Value of Debt Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Available-for-sale | ||
Due in one year or less, Amortized Cost | $ 2,815 | |
Due after one through five years, Amortized Cost | 21,224 | |
Due after five through ten years, Amortized Cost | 26,517 | |
Due after ten years, Amortized Cost | 51,945 | |
Total debt securities available-for-sale, Amortized Cost | 102,501 | |
Due in one year or less, Fair Value | 2,836 | |
Due after one through five years, Fair Value | 21,370 | |
Due after five through ten years, Fair Value | 26,770 | |
Due after ten years, Fair Value | 51,998 | |
Total debt securities available-for-sale, Fair Value | 102,974 | |
Held-to-maturity | ||
Due in one year or less, Amortized Cost | 4,700 | |
Due after one through five years, Amortized Cost | 476 | |
Due after five through ten years, Amortized Cost | 3,000 | |
Due after ten years, Amortized cost | 18,993 | |
Amortized Cost, Held to maturity | 27,169 | $ 23,883 |
Due in one year or less, Fair Value | 4,724 | |
Due after one through five years, Fair Value | 499 | |
Due after five through ten years, Fair Value | 2,918 | |
Due after ten years, Fair Value | 19,072 | |
Total debt securities held-to-maturity, Fair Value | $ 27,213 | $ 23,444 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($)Securities | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)Securities | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Investments, Debt and Equity Securities [Abstract] | |||||
Fair value of pledged securities | $ 107,000,000 | $ 107,000,000 | $ 95,000,000 | ||
Restricted stock investment in FHLB stock | 4,100,000 | 4,100,000 | 4,100,000 | ||
Federal Reserve Bank stock | 471,000 | 471,000 | $ 471,000 | ||
Proceeds from sales of securities | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of securities in an unrealized loss position, Total | Securities | 41 | 41 | |||
Number of securities in continuous unrealized loss position, 12 months or more | Securities | 8 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Total | $ 210 | $ 597 |
Gross Unrealized Losses, Total | 481 | 1,316 |
Gross Unrealized Losses, Less Than 12 Months | 429 | 1,583 |
Fair Value, Less Than 12 Months | 39,003 | 67,186 |
Gross Unrealized Losses, 12 Months Or More | 262 | 330 |
Fair Value, 12 Months Or More | 7,917 | 6,776 |
Gross Unrealized Losses, Total | 691 | 1,913 |
Fair Value, Total | 46,920 | 73,962 |
U.S. Treasury Security [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 1 | |
Fair Value, Less Than 12 Months | 997 | |
Gross Unrealized Losses, Total | 1 | |
Fair Value, Total | 997 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | 129 | 396 |
Held-to-maturity, Fair Value, Less Than 12 Months | 6,869 | 8,602 |
Held-to-maturity, Gross Unrealized Losses, Total | 129 | 396 |
Held-to-maturity, Fair Value, Total | 6,869 | 8,602 |
Gross Unrealized Losses, Less Than 12 Months | 35 | 98 |
Fair Value, Less Than 12 Months | 6,464 | 6,402 |
Gross Unrealized Losses, Total | 35 | 98 |
Fair Value, Total | 6,464 | 6,402 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | 28 | |
Held-to-maturity, Fair Value, Less Than 12 Months | 2,018 | |
Held-to-maturity, Gross Unrealized Losses, 12 Months Or More | 81 | 173 |
Held-to-maturity, Fair Value, 12 Months Or More | 3,534 | 3,621 |
Held-to-maturity, Gross Unrealized Losses, Total | 81 | 201 |
Held-to-maturity, Fair Value, Total | 3,534 | 5,639 |
Gross Unrealized Losses, Less Than 12 Months | 210 | 589 |
Fair Value, Less Than 12 Months | 20,136 | 27,243 |
Gross Unrealized Losses, Total | 210 | 589 |
Fair Value, Total | 20,136 | 27,243 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, 12 Months Or More | 19 | 46 |
Fair Value, 12 Months Or More | 1,213 | 1,266 |
Gross Unrealized Losses, Total | 19 | 46 |
Fair Value, Total | 1,213 | 1,266 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 53 | 439 |
Fair Value, Less Than 12 Months | 3,597 | 19,328 |
Gross Unrealized Losses, 12 Months Or More | 19 | |
Fair Value, 12 Months Or More | 813 | |
Gross Unrealized Losses, Total | 72 | 439 |
Fair Value, Total | 4,410 | 19,328 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 1 | 33 |
Fair Value, Less Than 12 Months | 940 | 3,593 |
Gross Unrealized Losses, 12 Months Or More | 143 | 111 |
Fair Value, 12 Months Or More | 2,357 | 1,889 |
Gross Unrealized Losses, Total | 144 | 144 |
Fair Value, Total | $ 3,297 | $ 5,482 |
Loans - Summary of Loans (Detai
Loans - Summary of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $ 498,101 | $ 474,968 |
Deferred loan costs | 524 | 481 |
Total Loans | 498,625 | 475,449 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 141,285 | 134,268 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 168,812 | 159,475 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 151,126 | 144,489 |
Construction & Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 20,705 | 23,428 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $ 16,173 | $ 13,308 |
Loans - Additional Information
Loans - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Dec. 31, 2016USD ($)Contract | Jun. 30, 2017USD ($) | Jun. 30, 2016Contract | Dec. 31, 2016USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans serviced for others | $ 81,600,000 | $ 85,900,000 | ||
Concentrations of loans related to a single industry | $ 0 | 0 | 0 | |
Loans classified as troubled debt restructurings | 6,400,000 | 4,900,000 | 6,400,000 | |
Reserves allocated to customers whose loan terms are modified in troubled debt restructurings | 711,000 | 456,000 | 711,000 | |
Loans payable in nonaccrual of interest status | 2,400,000 | |||
Foreclosed real estate | $ 0 | 0 | 0 | |
Mortgage loans in process of foreclosure amount | 225,000 | $ 448,000 | ||
Loans restructured, subsequently defaulted | Contract | 0 | |||
Outstanding balance of commercial loans classified under credit risk, minimum amount | 300,000 | |||
Loans listed as not rated under risk category, maximum amount | 300,000 | |||
Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans restructured, subsequently defaulted | Contract | 1 | |||
Loans restructured, subsequently defaulted | $ 3,300,000 | |||
Performing [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans classified as troubled debt restructurings | $ 2,500,000 |
Loans - Schedule of Allowances
Loans - Schedule of Allowances for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | $ 5,454 | $ 5,005 | $ 5,291 | $ 4,662 |
PROVISION FOR LOAN LOSSES | 845 | 165 | 685 | 329 |
Charge-offs | (34) | (18) | (47) | (28) |
Recoveries | 24 | 4 | 360 | 193 |
Net charge-offs | (10) | (14) | 313 | 165 |
Ending balance | 6,289 | 5,156 | 6,289 | 5,156 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,704 | 2,053 | 2,207 | 1,664 |
PROVISION FOR LOAN LOSSES | 675 | 326 | (156) | 720 |
Charge-offs | (32) | (6) | (40) | (15) |
Recoveries | 15 | 3 | 351 | 7 |
Net charge-offs | (17) | (3) | 311 | (8) |
Ending balance | 2,362 | 2,376 | 2,362 | 2,376 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,538 | 1,225 | 1,264 | 1,271 |
PROVISION FOR LOAN LOSSES | 180 | 48 | 454 | (180) |
Charge-offs | (12) | (12) | ||
Recoveries | 1 | 183 | ||
Net charge-offs | (11) | 171 | ||
Ending balance | 1,718 | 1,262 | 1,718 | 1,262 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,303 | 1,084 | 1,189 | 1,086 |
PROVISION FOR LOAN LOSSES | (47) | 11 | 67 | 7 |
Recoveries | 8 | 8 | 2 | |
Net charge-offs | 8 | 8 | 2 | |
Ending balance | 1,264 | 1,095 | 1,264 | 1,095 |
Construction & Land Development [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 184 | 106 | 178 | 123 |
PROVISION FOR LOAN LOSSES | 38 | 21 | 44 | 4 |
Ending balance | 222 | 127 | 222 | 127 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 165 | 94 | 141 | 86 |
PROVISION FOR LOAN LOSSES | 18 | 16 | 47 | 24 |
Charge-offs | (2) | (7) | (1) | |
Recoveries | 1 | 1 | 1 | |
Net charge-offs | (1) | (6) | ||
Ending balance | 182 | 110 | 182 | 110 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 560 | 443 | 312 | 432 |
PROVISION FOR LOAN LOSSES | (19) | (257) | 229 | (246) |
Ending balance | $ 541 | $ 186 | $ 541 | $ 186 |
Loans - Allowances for Loan Los
Loans - Allowances for Loan Losses and Ending Balances by Portfolio Class and Based on Impairment Method (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | $ 841 | $ 729 | ||||
Collectively evaluated for impairment | 5,448 | 4,562 | ||||
Total ending allowance balance | 6,289 | $ 5,454 | 5,291 | $ 5,156 | $ 5,005 | $ 4,662 |
Loans: | ||||||
Loans individually evaluated for impairment | 8,327 | 7,156 | ||||
Loans collectively evaluated for impairment | 489,774 | 467,812 | ||||
Total ending loans balance | 498,101 | 474,968 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 573 | 705 | ||||
Collectively evaluated for impairment | 1,789 | 1,502 | ||||
Total ending allowance balance | 2,362 | 1,704 | 2,207 | 2,376 | 2,053 | 1,664 |
Loans: | ||||||
Loans individually evaluated for impairment | 3,169 | 5,028 | ||||
Loans collectively evaluated for impairment | 138,116 | 129,240 | ||||
Total ending loans balance | 141,285 | 134,268 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 243 | |||||
Collectively evaluated for impairment | 1,475 | 1,264 | ||||
Total ending allowance balance | 1,718 | 1,538 | 1,264 | 1,262 | 1,225 | 1,271 |
Loans: | ||||||
Loans individually evaluated for impairment | 3,693 | 621 | ||||
Loans collectively evaluated for impairment | 165,119 | 158,854 | ||||
Total ending loans balance | 168,812 | 159,475 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 25 | 24 | ||||
Collectively evaluated for impairment | 1,239 | 1,165 | ||||
Total ending allowance balance | 1,264 | 1,303 | 1,189 | 1,095 | 1,084 | 1,086 |
Loans: | ||||||
Loans individually evaluated for impairment | 1,465 | 1,507 | ||||
Loans collectively evaluated for impairment | 149,661 | 142,982 | ||||
Total ending loans balance | 151,126 | 144,489 | ||||
Construction & Land Development [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 222 | 178 | ||||
Total ending allowance balance | 222 | 184 | 178 | 127 | 106 | 123 |
Loans: | ||||||
Loans collectively evaluated for impairment | 20,705 | 23,428 | ||||
Total ending loans balance | 20,705 | 23,428 | ||||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 182 | 141 | ||||
Total ending allowance balance | 182 | 165 | 141 | 110 | 94 | 86 |
Loans: | ||||||
Loans collectively evaluated for impairment | 16,173 | 13,308 | ||||
Total ending loans balance | 16,173 | 13,308 | ||||
Unallocated [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 541 | 312 | ||||
Total ending allowance balance | $ 541 | $ 560 | $ 312 | $ 186 | $ 443 | $ 432 |
Loans - Schedule of Impairment
Loans - Schedule of Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 8,708 | $ 7,953 |
Recorded Investment with no Allowance | 4,527 | 3,326 |
Recorded Investment with Allowance | 3,806 | 3,847 |
Total Recorded Investment | 8,333 | 7,173 |
Related Allowance | 841 | 729 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 3,181 | 5,476 |
Recorded Investment with no Allowance | 1,012 | 1,690 |
Recorded Investment with Allowance | 2,160 | 3,354 |
Total Recorded Investment | 3,172 | 5,044 |
Related Allowance | 573 | 705 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 3,884 | 796 |
Recorded Investment with no Allowance | 2,456 | 600 |
Recorded Investment with Allowance | 1,237 | 21 |
Total Recorded Investment | 3,693 | 621 |
Related Allowance | 243 | |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 1,643 | 1,681 |
Recorded Investment with no Allowance | 1,059 | 1,036 |
Recorded Investment with Allowance | 409 | 472 |
Total Recorded Investment | 1,468 | 1,508 |
Related Allowance | $ 25 | $ 24 |
Loans - Schedule of Average Rec
Loans - Schedule of Average Recorded Investment in Impaired Loans and Related Interest Income Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Average recorded investment: | ||||
Average recorded investment in impaired loans | $ 7,934 | $ 8,822 | $ 7,038 | $ 8,743 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | 34 | 72 | 63 | 157 |
Commercial [Member] | ||||
Average recorded investment: | ||||
Average recorded investment in impaired loans | 2,794 | 6,579 | 3,505 | 6,360 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | 17 | 56 | 31 | 122 |
Commercial Real Estate [Member] | ||||
Average recorded investment: | ||||
Average recorded investment in impaired loans | 3,600 | 746 | 2,019 | 865 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | 2 | 2 | 2 | 6 |
Residential Real Estate [Member] | ||||
Average recorded investment: | ||||
Average recorded investment in impaired loans | 1,540 | 1,497 | 1,514 | 1,518 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | $ 15 | $ 14 | $ 30 | $ 29 |
Loans - Schedule of Aging of Pa
Loans - Schedule of Aging of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 491,572 | $ 471,722 |
Nonaccrual | 5,967 | 1,449 |
Total Past Due and Nonaccrual | 6,529 | 3,246 |
Total ending loans balance | 498,101 | 474,968 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 466 | 1,423 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 27 | 139 |
90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 69 | 235 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 139,066 | 133,630 |
Nonaccrual | 2,072 | 425 |
Total Past Due and Nonaccrual | 2,219 | 638 |
Total ending loans balance | 141,285 | 134,268 |
Commercial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 147 | 151 |
Commercial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 62 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 165,328 | 158,504 |
Nonaccrual | 3,387 | 497 |
Total Past Due and Nonaccrual | 3,484 | 971 |
Total ending loans balance | 168,812 | 159,475 |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 58 | 435 |
Commercial Real Estate [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 39 | 39 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 150,426 | 142,926 |
Nonaccrual | 478 | 490 |
Total Past Due and Nonaccrual | 700 | 1,563 |
Total ending loans balance | 151,126 | 144,489 |
Residential Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 174 | 816 |
Residential Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18 | 61 |
Residential Real Estate [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 30 | 196 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 20,705 | 23,428 |
Total ending loans balance | 20,705 | 23,428 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 16,047 | 13,234 |
Nonaccrual | 30 | 37 |
Total Past Due and Nonaccrual | 126 | 74 |
Total ending loans balance | 16,173 | 13,308 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87 | 21 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 9 | $ 16 |
Loans - Summary of Troubled Deb
Loans - Summary of Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of loans restructured | Contract | 5 | 3 | 5 | 3 |
Pre-Modification Recorded Investment | $ 302 | $ 327 | $ 302 | $ 327 |
Post-Modification Recorded Investment | $ 302 | $ 327 | $ 302 | $ 327 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of loans restructured | Contract | 4 | 4 | ||
Pre-Modification Recorded Investment | $ 288 | $ 288 | ||
Post-Modification Recorded Investment | $ 288 | $ 288 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of loans restructured | Contract | 1 | 3 | 1 | 3 |
Pre-Modification Recorded Investment | $ 14 | $ 327 | $ 14 | $ 327 |
Post-Modification Recorded Investment | $ 14 | $ 327 | $ 14 | $ 327 |
Loans - Summary of Loans by Cre
Loans - Summary of Loans by Credit Quality Indicator (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 498,101 | $ 474,968 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 141,285 | 134,268 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 168,812 | 159,475 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 151,126 | 144,489 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 20,705 | 23,428 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,173 | 13,308 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 282,947 | 283,768 |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 114,648 | 116,739 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 152,806 | 149,630 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 211 | 216 |
Pass [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 15,282 | 17,183 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 29,543 | 12,023 |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 17,640 | 6,874 |
Special Mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,480 | 4,168 |
Special Mention [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,423 | 981 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 13,948 | 15,149 |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 8,180 | 9,704 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,008 | 4,766 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 112 | 175 |
Substandard [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 648 | 504 |
Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 171,663 | 164,028 |
Not Rated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 817 | 951 |
Not Rated [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 518 | 911 |
Not Rated [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 150,803 | 144,098 |
Not Rated [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,352 | 4,760 |
Not Rated [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 16,173 | $ 13,308 |
Loans - Schedule of Loans Not R
Loans - Schedule of Loans Not Rated by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $ 171,663 | $ 164,028 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 817 | 951 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 518 | 911 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 150,803 | 144,098 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 3,352 | 4,760 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 16,173 | 13,308 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 171,125 | 163,333 |
Performing [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 817 | 951 |
Performing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 518 | 911 |
Performing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 150,295 | 143,440 |
Performing [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 3,352 | 4,760 |
Performing [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 16,143 | 13,271 |
Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 538 | 695 |
Nonperforming [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 508 | 658 |
Nonperforming [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $ 30 | $ 37 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Repurchase Agreements Accounted for as Secured Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Short-term Debt [Abstract] | ||
Securities of U.S. Government agencies and mortgage-backed securities of government agencies pledged, fair value | $ 57,103 | $ 48,866 |
Repurchase agreements | $ 56,932 | $ 48,742 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value Disclosures [Abstract] | ||
Liabilities carried at fair value | $ 0 | $ 0 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 103,058 | $ 103,875 |
U.S. Treasury Security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 997 | 1,001 |
U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 10,316 | 6,402 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 53,334 | 55,837 |
Other Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 65 | |
Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,213 | 1,266 |
State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 27,588 | 29,708 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 9,526 | 9,516 |
Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 102,974 | 103,795 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 84 | 80 |
Level I [Member] | Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,081 | 1,081 |
Level I [Member] | U.S. Treasury Security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 997 | 1,001 |
Level I [Member] | Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 997 | 1,001 |
Level I [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 84 | 80 |
Level II [Member] | Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 101,977 | 102,794 |
Level II [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 10,316 | 6,402 |
Level II [Member] | Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 53,334 | 55,837 |
Level II [Member] | Other Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 65 | |
Level II [Member] | Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,213 | 1,266 |
Level II [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 27,588 | 29,708 |
Level II [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 9,526 | 9,516 |
Level II [Member] | Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 101,977 | $ 102,794 |
Fair Value Measurements - Sch40
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - Impaired Loans [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 5,577 | $ 6,427 |
Level III [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 5,577 | $ 6,427 |
Fair Value Measurements - Sch41
Fair Value Measurements - Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - Level III [Member] - Impaired Loans [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Discounted Cash Flow [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Estimate | $ 5,128 | $ 5,330 |
Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 1 month | 6 months |
Discount rate | 3.50% | 3.10% |
Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 29 years 9 months 18 days | 29 years 10 months 25 days |
Discount rate | 9.80% | 12.00% |
Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 102 months | 61 months 3 days |
Discount rate | 5.20% | 4.90% |
Appraisal of Collateral [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Estimate | $ 449 | $ 1,097 |
Liquidation expense | (10.00%) | (10.00%) |
Appraisal of Collateral [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | 0.00% | 0.00% |
Appraisal of Collateral [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | (50.00%) | (50.00%) |
Appraisal of Collateral [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | (17.00%) | (21.70%) |
Fair Values of Financial Inst42
Fair Values of Financial Instruments - Schedule of Estimated Fair Values of Recognized Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financial assets | ||
Securities available-for-sale | $ 103,058 | $ 103,875 |
Securities held-to-maturity | 27,213 | 23,444 |
Loans held for sale | 432 | |
Bank-owned life insurance | 13,045 | 10,361 |
Carrying Value [Member] | ||
Financial assets | ||
Cash and cash equivalents | 38,796 | 36,838 |
Securities available-for-sale | 103,058 | 103,875 |
Securities held-to-maturity | 27,169 | 23,883 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 432 | |
Net loans | 492,336 | 470,158 |
Bank-owned life insurance | 13,045 | 10,361 |
Accrued interest receivable | 1,440 | 1,409 |
Financial liabilities | ||
Deposits | 547,104 | 540,785 |
Short-term borrowings | 56,932 | 48,742 |
Other borrowings | 21,781 | 12,385 |
Accrued interest payable | 87 | 76 |
Carrying Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | 260 | 261 |
Fair Value [Member] | ||
Financial assets | ||
Cash and cash equivalents | 38,796 | 36,838 |
Securities available-for-sale | 103,058 | 103,875 |
Securities held-to-maturity | 27,213 | 23,444 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 432 | |
Net loans | 496,611 | 471,815 |
Bank-owned life insurance | 13,045 | 10,361 |
Accrued interest receivable | 1,440 | 1,409 |
Financial liabilities | ||
Deposits | 547,417 | 541,318 |
Short-term borrowings | 56,932 | 48,742 |
Other borrowings | 20,955 | 12,511 |
Accrued interest payable | 87 | 76 |
Fair Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | 260 | 261 |
Fair Value [Member] | Level I [Member] | ||
Financial assets | ||
Cash and cash equivalents | 38,796 | 36,838 |
Securities available-for-sale | 1,081 | 1,081 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 432 | |
Bank-owned life insurance | 13,045 | 10,361 |
Accrued interest receivable | 1,440 | 1,409 |
Financial liabilities | ||
Deposits | 436,592 | 428,676 |
Short-term borrowings | 56,932 | 48,742 |
Accrued interest payable | 87 | 76 |
Fair Value [Member] | Level II [Member] | ||
Financial assets | ||
Securities available-for-sale | 101,977 | 102,794 |
Securities held-to-maturity | 27,213 | 23,444 |
Fair Value [Member] | Level III [Member] | ||
Financial assets | ||
Net loans | 496,611 | 471,815 |
Financial liabilities | ||
Deposits | 110,825 | 112,642 |
Other borrowings | 20,955 | 12,511 |
Fair Value [Member] | Level III [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | $ 260 | $ 261 |
Fair Values of Financial Inst43
Fair Values of Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value Disclosures [Abstract] | ||
Commitments to extend credit and letters of credit | $ 178.5 | $ 163.7 |
Accumulated Other Comprehensi44
Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Unrealized holding gain on available-for-sale securities arising during the period, Pretax | $ 916 | $ 519 | $ 1,386 | $ 1,327 |
Total other comprehensive income, Tax Effect | 321 | 268 | 491 | 559 |
Beginning balance, After-tax | (874) | |||
Other comprehensive income | 621 | 521 | 952 | 1,085 |
Ending Balance, After-tax | 78 | 78 | ||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance, Pretax | (821) | 223 | (1,323) | (631) |
Unrealized holding gain on available-for-sale securities arising during the period, Pretax | 916 | 519 | 1,386 | 1,327 |
Amortization of held-to-maturity discount resulting from transfer, Pretax | 26 | 271 | 58 | 317 |
Total other comprehensive income, Pretax | 942 | 790 | 1,444 | 1,644 |
Ending balance, Pretax | 121 | 1,013 | 121 | 1,013 |
Beginning balance, Tax Effect | 278 | (76) | 449 | 214 |
Unrealized holding gain on available-for-sale securities arising during the period, Tax Effect | (312) | (176) | (471) | (451) |
Amortization of held-to-maturity discount resulting from transfer, Tax Effect | (9) | (93) | (21) | (108) |
Total other comprehensive income, Tax Effect | (321) | (269) | (492) | (559) |
Ending Balance, Tax Effect | (43) | (345) | (43) | (345) |
Beginning balance, After-tax | (543) | 147 | (874) | (417) |
Unrealized holding gain on available-for-sale securities arising during the period, After-tax | 604 | 343 | 915 | 876 |
Amortization of held-to-maturity discount resulting from transfer, After-tax | 17 | 178 | 37 | 209 |
Other comprehensive income | 621 | 521 | 952 | 1,085 |
Ending Balance, After-tax | $ 78 | $ 668 | $ 78 | $ 668 |