Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 08, 2019 | Jun. 30, 2018 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2018 | ||
Entity Registrant Name | EAGLE FINANCIAL SERVICES INC | ||
Entity Central Index Key | 0000880641 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 3,459,549 | ||
Entity Public Float | $ 96,629,263 | ||
Entity Current Reporting Status | Yes | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 12,358 | $ 10,578 |
Interest-bearing deposits with other institutions | 5,995 | 22,094 |
Federal funds sold | 0 | 3,176 |
Total cash and cash equivalents | 18,353 | 35,848 |
Securities available for sale, at fair value | 144,298 | 132,566 |
Restricted investments | 1,170 | 1,107 |
Loans | 606,827 | 568,817 |
Allowance for loan losses | (5,456) | (4,411) |
Net Loans | 601,371 | 564,406 |
Bank premises and equipment, net | 19,083 | 19,579 |
Other real estate owned, net of allowance | 106 | 106 |
Other assets | 15,236 | 12,139 |
Total assets | 799,617 | 765,751 |
Liabilities and Shareholders’ Equity | ||
Noninterest bearing demand deposits | 251,184 | 234,990 |
Savings and interest bearing demand deposits | 336,778 | 322,948 |
Time deposits | 115,142 | 105,476 |
Total deposits | 703,104 | 663,414 |
Federal funds purchased | 1,871 | 0 |
Other liabilities | 7,043 | 18,520 |
Total liabilities | 712,018 | 681,934 |
Shareholders’ Equity | ||
Preferred stock, $10 par value; 500,000 shares authorized and unissued | 0 | 0 |
Common stock, $2.50 par value; authorized 10,000,000 shares; issued and outstanding 2018, 3,445,914 including 16,701 unvested restricted stock; issued and outstanding 2017, 3,449,027 including 14,401 unvested restricted stock | 8,573 | 8,587 |
Surplus | 11,992 | 12,075 |
Retained earnings | 68,587 | 62,845 |
Accumulated other comprehensive (loss) income | (1,553) | 310 |
Total shareholders’ equity | 87,599 | 83,817 |
Total liabilities and shareholders’ equity | $ 799,617 | $ 765,751 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in USD per share) | $ 10 | $ 10 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in USD per share) | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 3,445,914 | 3,449,027 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest and Dividend Income | |||
Interest and fees on loans | $ 27,890 | $ 24,821 | $ 23,037 |
Interest and dividends on securities available for sale: | |||
Taxable interest income | 2,744 | 2,278 | 1,669 |
Interest income exempt from federal income taxes | 1,051 | 1,034 | 925 |
Dividends | 59 | 61 | 81 |
Interest on deposits in banks | 176 | 156 | 73 |
Interest on federal funds sold | 3 | 1 | 0 |
Total interest and dividend income | 31,923 | 28,351 | 25,785 |
Interest Expense | |||
Interest on deposits | 2,490 | 1,084 | 787 |
Interest on federal funds purchased | 25 | 13 | 1 |
Interest on Federal Home Loan Bank advances | 0 | 57 | 136 |
Interest on interest rate swap | 0 | 0 | 143 |
Total interest expense | 2,515 | 1,154 | 1,067 |
Net interest income | 29,408 | 27,197 | 24,718 |
Provision For (Recovery Of) Loan Losses | 777 | (625) | (188) |
Net interest income after provision for (recovery of) loan losses | 28,631 | 27,822 | 24,906 |
Noninterest Income | |||
Income from fiduciary activities | 1,360 | 1,238 | 1,356 |
Service charges on deposit accounts | 1,218 | 1,223 | 1,227 |
Other service charges and fees | 4,173 | 3,878 | 3,713 |
(Loss) on the sale and disposal of bank premises and equipment | (3) | (12) | (10) |
Gain (loss) on sale of securities | 17 | (10) | 98 |
Other operating income | 114 | 463 | 285 |
Total noninterest income | 6,879 | 6,780 | 6,669 |
Noninterest Expenses | |||
Salaries and employee benefits | 14,083 | 13,643 | 13,015 |
Occupancy expenses | 1,476 | 1,473 | 1,486 |
Equipment expenses | 915 | 955 | 889 |
Advertising and marketing expenses | 761 | 731 | 633 |
Stationery and supplies | 195 | 173 | 201 |
ATM network fees | 912 | 816 | 903 |
Other real estate owned expense | 183 | 11 | 73 |
Loss (gain) on other real estate owned | 866 | (1) | 90 |
FDIC assessment | 225 | 222 | 304 |
Computer software expense | 474 | 647 | 623 |
Bank franchise tax | 583 | 534 | 501 |
Professional fees | 1,036 | 1,007 | 949 |
Data processing fees | 794 | 564 | 444 |
Other operating expenses | 2,692 | 2,415 | 2,541 |
Total noninterest expenses | 25,195 | 23,190 | 22,652 |
Income before income taxes | 10,315 | 11,412 | 8,923 |
Income Tax Expense | 1,314 | 3,626 | 2,553 |
Net income | $ 9,001 | $ 7,786 | $ 6,370 |
Earnings Per Share | |||
Net income per common share, basic (in US dollars per share) | $ 2.60 | $ 2.24 | $ 1.81 |
Net income per common share, diluted (in US dollars per share) | $ 2.60 | $ 2.24 | $ 1.81 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 9,001 | $ 7,786 | $ 6,370 |
Other comprehensive (loss) income: | |||
Changes in benefit obligations and plan assets for post retirement benefit plans, net of reclassification adjustments, net of deferred income tax of $0, ($1) and $0 for the years ended December 31, 2018, 2017, and 2016, respectively | 0 | (2) | 0 |
Unrealized gain (loss) on available for sale securities, net of reclassification adjustments, net of deferred income tax of ($495), $147, and ($554) for the years ended December 31, 2018, 2017 and 2016, respectively | (1,863) | 285 | (1,075) |
Total other comprehensive (loss) income | (1,863) | 283 | (1,075) |
Total comprehensive income | $ 7,138 | $ 8,069 | $ 5,295 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Changes in benefit obligations and plan assets for defined benefit and postretirement benefit plans, deferred income taxes | $ 0 | $ (1) | $ 0 |
Unrealized gain (loss) on available for sale securities, deferred income taxes | $ (495) | $ 147 | $ (554) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
Beginning Balance at Dec. 31, 2015 | $ 78,221 | $ 8,758 | $ 13,730 | $ 54,682 | $ 1,051 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 6,370 | 6,370 | |||
Other comprehensive income (loss) | (1,075) | (1,075) | |||
Reclassification of stranded tax effects from change in tax rate | 0 | ||||
Restricted stock awards, stock incentive plan | 33 | (33) | |||
Income tax benefit on vesting restricted stock | 2 | 2 | |||
Stock-based compensation expense | 314 | 314 | |||
Issuance of common stock, dividend investment plan | 533 | 58 | 475 | ||
Issuance of common stock, employee benefit plan | 81 | 8 | 73 | ||
Retirement of common stock | (2,143) | (224) | (1,919) | ||
Dividends declared | (2,887) | (2,887) | |||
Ending Balance at Dec. 31, 2016 | 79,416 | 8,633 | 12,642 | 58,165 | (24) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 7,786 | 7,786 | |||
Other comprehensive income (loss) | 283 | 283 | |||
Reclassification of stranded tax effects from change in tax rate | 51 | (51) | 51 | ||
Restricted stock awards, stock incentive plan | 36 | (36) | |||
Stock-based compensation expense | 382 | 382 | |||
Issuance of common stock, dividend investment plan | 403 | 35 | 368 | ||
Issuance of common stock, employee benefit plan | 166 | 15 | 151 | ||
Retirement of common stock | (1,564) | (132) | (1,432) | ||
Dividends declared | (3,055) | (3,055) | |||
Ending Balance at Dec. 31, 2017 | 83,817 | 8,587 | 12,075 | 62,845 | 310 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 9,001 | 9,001 | |||
Other comprehensive income (loss) | (1,863) | (1,863) | |||
Reclassification of stranded tax effects from change in tax rate | 0 | ||||
Restricted stock awards, stock incentive plan | 36 | (36) | |||
Stock-based compensation expense | 518 | 518 | |||
Issuance of common stock, dividend investment plan | 483 | 37 | 446 | ||
Issuance of common stock, employee benefit plan | 163 | 11 | 152 | ||
Retirement of common stock | (1,261) | (98) | (1,163) | ||
Dividends declared | (3,259) | (3,259) | |||
Ending Balance at Dec. 31, 2018 | $ 87,599 | $ 8,573 | $ 11,992 | $ 68,587 | $ (1,553) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Stockholders' Equity [Abstract] | |||
Issuance of restricted stock, stock incentive plan, shares | 14,609 | 14,493 | 13,196 |
Issuance of common stock, dividend investment plan, shares | 14,731 | 13,769 | 23,180 |
Issuance of common stock, employee benefit plan, shares | 4,580 | 5,958 | 3,326 |
Stock Repurchased During Period, Shares | 39,333 | 52,936 | 89,607 |
Dividends declared, per share (in USD per share) | $ 0.94 | $ 0.88 | $ 0.82 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities | |||
Net income | $ 9,001 | $ 7,786 | $ 6,370 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 925 | 946 | 932 |
Amortization of other assets | 201 | 200 | 192 |
Provision for (recovery of) loan losses | 777 | (625) | (188) |
Valuation adjustments other real estate owned | 0 | 0 | 12 |
Loss (gain) on other real estate owned | 866 | (1) | 90 |
Loss on the sale and disposal of premises and equipment | 3 | 12 | 10 |
Loss on the sale of repossessed assets | 0 | 6 | 1 |
(Gain) loss on the sale of securities | (17) | 10 | (98) |
Fair value adjustment on derivative contract | 0 | 0 | (149) |
Stock-based compensation expense | 518 | 382 | 314 |
Premium amortization on securities, net | 483 | 443 | 370 |
Deferred tax (benefit) expense | (399) | 532 | 207 |
Changes in assets and liabilities: | |||
(Increase) in other assets | (2,404) | (1,465) | (1,095) |
(Decrease) increase in other liabilities | (11,477) | 1,141 | 2,732 |
Net cash (used in) provided by operating activities | (1,523) | 9,367 | 9,700 |
Cash Flows from Investing Activities | |||
Proceeds from maturities, calls, and principal payments of securities available for sale | 16,604 | 10,714 | 23,535 |
Proceeds from the sale of securities available for sale | 5,374 | 20,283 | 11,356 |
Purchases of securities available for sale | (36,534) | (43,797) | (40,418) |
Proceeds from the sale of restricted securities | 0 | 850 | 850 |
Purchases of restricted securities | (63) | (889) | (22) |
Purchases of bank premises and equipment | (432) | (368) | (257) |
Proceeds from the sale of other real estate owned | 1,933 | 318 | 564 |
Proceeds from the sale of repossessed assets | 4 | 3 | 4 |
Net (increase) in loans | (40,545) | (51,401) | (21,995) |
Net cash (used in) investing activities | (53,659) | (64,287) | (26,383) |
Cash Flows from Financing Activities | |||
Net increase in demand deposits, money market and savings accounts | 30,024 | 42,143 | 57,448 |
Net increase (decrease) in certificates of deposit | 9,666 | 17,394 | (4,289) |
Net increase in federal funds purchased | 1,871 | 0 | 0 |
Net (decrease) in Federal Home Loan Bank advances | 0 | 0 | 20,000 |
Issuance of common stock, employee benefit plan | 163 | 166 | 81 |
Retirement of common stock | (1,261) | (1,564) | (2,143) |
Cash dividends paid | (2,776) | (2,652) | (2,354) |
Net cash provided by financing activities | 37,687 | 55,487 | 28,743 |
(Decrease) increase in cash and cash equivalents | (17,495) | 567 | 12,060 |
Cash and Cash Equivalents | |||
Beginning | 35,848 | 35,281 | 23,221 |
Ending | 18,353 | 35,848 | 35,281 |
Supplemental Disclosures of Cash Flow Information | |||
Interest | 2,458 | 1,144 | 1,099 |
Income taxes | 2,161 | 2,744 | |
Supplemental Schedule of Noncash Investing and Financing Activities: | |||
Unrealized (loss) gain on securities available for sale | (2,358) | 432 | (1,629) |
Minimum postretirement liability adjustment | 0 | 3 | 0 |
Other real estate and repossessed assets acquired in settlement of loans | 2,803 | 57 | 675 |
Loans made to finance the sale of other real estate owned | 0 | 0 | 315 |
Issuance of common stock, dividend investment plan | 483 | 403 | 533 |
Purchase of securities available for sale settled subsequent to year end | $ 0 | $ 10,346 | $ 9,826 |
Nature of Banking Activities an
Nature of Banking Activities and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Banking Activities and Significant Accounting Policies | Nature of Banking Activities and Significant Accounting Policies Eagle Financial Services, Inc. (the “Company” or “Corporation”) and the Bank grant commercial, financial, agricultural, residential and consumer loans to customers in Virginia and the Eastern Panhandle of West Virginia. The loan portfolio is well diversified and generally is collateralized by assets of the customers. The loans are expected to be repaid from cash flows or proceeds from the sale of selected assets of the borrowers. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America and to accepted practices within the banking industry. Principles of Consolidation The Company owns 100% of Bank of Clarke County (the “Bank”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions between the Company and the Bank have been eliminated. Trust Assets Eagle Investment Group (“EIG”), as a division of the Bank offers both a trust department and investment services. The trust services division of EIG offers a full range of personal and retirement plan services, which include serving as agent for bill paying and custody of assets, as investment manager with full authority or advisor, as trustee or co-trustee for trusts under will or under agreement, as trustee of life insurance trusts, as guardian or committee, as agent under a power of attorney, as executor or co-executor for estates, as custodian or investment advisor for individual retirement plans, and as trustee or trust advisor for corporate retirement plans such as profit sharing and 401(k) plans. The brokerage division of EIG offers a full range of investment services, which include tax-deferred annuities, IRAs and rollovers, mutual funds, retirement plans, 529 college savings plans, life insurance, long term care insurance, fixed income investing, brokerage CDs, and full service or discount brokerage services. Securities and other property held by the Eagle Investment Group in a fiduciary or agency capacity are not assets of the Company and are not included in the accompanying consolidated financial statements. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold, and interest bearing deposits. Generally, federal funds are purchased and sold for one-day periods. Securities Debt securities that management has the positive intent and ability to hold to maturity are classified as “held to maturity” and recorded at amortized cost. Debt securities not classified as held to maturity are classified as “available for sale” and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. Equity securities are carried at fair value, with changes in fair value reported in income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Declines in the fair value of held to maturity and available for sale securities below their cost that are deemed to be “other than temporary” are reflected in earnings as realized losses. In estimating “other than temporary” impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery of fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. The Bank is required to maintain an investment in the capital stock of certain correspondent banks. No readily available market exists for this stock and it has no quoted market value. The investment in these securities is recorded at cost and they are reported on the Company’s consolidated balance sheet as restricted investments. Loans The Company grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans throughout the Counties of Clarke, Frederick, and Loudoun, Virginia and the City of Winchester, Virginia. The ability of the Company’s debtors to honor their contracts is dependent upon the real estate and general economic conditions in this area. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for the allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan fees collected and certain costs incurred related to loan originations are deferred and amortized as an adjustment to interest income over the life of the related loans. Deferred fees and costs are recorded as an adjustment to interest income using a method that approximates a constant yield. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 120 and 90 days delinquent, respectively, unless the credit is well-secured and in process of collection. Credit card loans and other personal loans are typically charged off no later than 180 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Troubled Debt Restructurings (TDR) In situations where, for economic or legal reasons related to a borrower’s financial condition, management may grant a concession to the borrower that it would not otherwise consider, the related loan is classified as a TDR. TDRs are considered impaired loans. Upon designation as a TDR, the Company evaluates the borrower’s payment history, past due status and ability to make payments based on the revised terms of the loan. If a loan was accruing prior to being modified as a TDR and if the Company concludes that the borrower is able to make such payments, and there are no other factors or circumstances that would cause it to conclude otherwise, the loan will remain on an accruing status. If a loan was on non-accrual status at the time of the TDR, the loan will remain on non-accrual status following the modification and may be returned to accrual status based on the policy for returning loans to accrual status as noted above. Risks by Loan Portfolio Segments One-to-Four-Family Residential Real Estate Lending Residential mortgage loans generally are made on the basis of the borrower’s ability to make repayment from employment and other income and are secured by real estate whose value tends to be readily ascertainable. As part of the application process, information is gathered concerning income, employment and credit history of the applicant. The valuation of residential collateral is provided by independent fee appraisers who have been approved by the Bank’s Directors Loan Committee. Commercial Real Estate Lending Commercial real estate lending entails significant additional risk as compared with residential mortgage lending. Commercial real estate loans typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. Additionally, the repayment of loans secured by income producing properties is typically dependent on the successful operation of a business or a real estate project and thus may be subject, to a greater extent, to adverse conditions in the real estate market or the economy, in general. Construction and Land Development Lending There are two characteristics of construction lending which impact its overall risk as compared to residential mortgage lending. First, there is more concentration risk due to the extension of a large loan balance through several lines of credit to a single developer or contractor. Second, there is more collateral risk due to the fact that loan funds are provided to the borrower based upon the estimated value of the collateral after completion. This could cause an inaccurate estimate of the amount needed to complete construction or an excessive loan-to-value ratio. To mitigate the risks associated with construction lending, the Bank generally limits loan amounts to 80% of the estimated appraised value of the finished home. Commercial and Industrial Lending Commercial business loans generally have more risk than residential mortgage loans, but have higher yields. To manage these risks, the Bank generally obtains appropriate collateral and personal guarantees from the borrower’s principal owners and monitors the financial condition of the borrower. Commercial business loans typically are made on the basis of the borrower’s ability to make repayment from cash flow from its business and are secured by business assets, such as commercial real estate, accounts receivable, equipment and inventory. As a result, the availability of funds for the repayment of commercial business loans is substantially dependent on the success of the business itself. Furthermore, the collateral for commercial business loans may depreciate over time and generally cannot be appraised with as much precision as residential real estate. Consumer Lending Consumer loans generally entail greater risk than residential mortgage loans, particularly in the case of consumer loans which are unsecured or secured by rapidly depreciable assets such as automobiles. In such cases, any repossessed collateral on a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance as a result of the greater likelihood of damage, loss or depreciation. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for (recovery of) loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are impaired. An allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans and is based on historical loss experience and other qualitative factors. Other qualitative factors considered in the general component include the levels and trends in delinquencies and nonperforming loans, trends in volume and terms of loans, the effects of any changes in lending policies, the experience, ability, and depth of management, national and local economic trends and conditions, concentrations of credit, the quality of the Company’s loan review system, competition and regulatory requirements. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair market value less estimated liquidation costs of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are the subject of a restructuring agreement. Bank Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost, less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives range from 10 to 39 years for buildings and 3 to 10 years for furniture and equipment. Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair value of the property, less estimated selling costs at the date of foreclosure. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less estimated cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. The portion of interest costs relating to development of real estate is capitalized. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in the net expenses from foreclosed assets. Retirement Plans The Company sponsors a 401(k) savings plan under which eligible employees may defer a portion of their compensation on a pretax basis. The Company also provides a match to participants in this plan, as described more fully in Note 11. Stock-Based Compensation Plan During 2014, the Company’s shareholders approved a stock incentive plan which allows key employees and directors to increase their personal financial interest in the Company. This plan permits the issuance of incentive stock options and non-qualified stock options and the award of stock appreciation rights, common stock, restricted stock, and phantom stock. The plan, as adopted, authorized the issuance of up to 500,000 shares of common stock. This plan is discussed more fully in Note 10. Income Taxes Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various assets and liabilities and gives current recognition to changes in tax rates and laws. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the applicable taxing authority, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, the Company believes it is “more likely than not” that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the “more likely than not” recognition threshold are measured as the largest amount of tax benefit that is more than fifty percent ( 50% ) likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the balance sheet along with any associated interest and penalties that would be payable to the applicable taxing authority upon examination. Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statement of income. The Company has no uncertain tax positions. Advertising The Company follows the policy of charging the costs of advertising to expense as incurred. Reclassifications Certain reclassifications have been made to the 2017 financial statements to conform to reporting for 2018 . The results of the reclassifications are not considered material and had no effect on prior years' net income or shareholders' equity. Earnings Per Common Share Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Nonvested restricted shares are included in the weighted average number of common shares used to compute basic earnings per share because of dividend participation and voting rights. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. The number of potential common shares is determined using the treasury method. The following table shows the weighted average number of shares used in computing earnings per share and the effect on the weighted average number of shares of dilutive potential common stock. 2018 2017 2016 Weighted average number of common shares outstanding used to calculate basic earnings per share 3,467,667 3,468,275 3,518,848 Effect of dilutive common stock — — — Weighted average number of common shares outstanding used to calculate diluted earnings per share 3,467,667 3,468,275 3,518,848 There were no potentially dilutive securities outstanding in 2018 , 2017 or 2016 . Comprehensive Income Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, net of income taxes, are reported within the balance sheet as a separate component of shareholders’ equity. These changes, along with net income, are components of comprehensive income and are reported in the statement of comprehensive income. In addition to net income, the Company’s comprehensive income includes changes in the benefit obligations and plan assets for postretirement benefit plans and unrealized gains or losses on available for sale securities. Derivative Financial Instruments The Company follows GAAP to account for derivative and hedging activities. Accordingly, a derivative is recognized in the balance sheet at its fair value. The fair value of a derivative is determined by quoted market prices and mathematical models using current and historical data. If certain hedging criteria are met, including testing for hedge effectiveness, special hedge accounting may be applied. The Company assesses each hedge, both at inception and on an ongoing basis, to determine whether the derivative used in a hedging transaction is effective in offsetting changes in the fair value or cash flows of the hedged item and whether the derivative is expected to remain effective during subsequent periods. The Company discontinues hedge accounting when (a) it determines that a derivative is no longer effective in offsetting changes in fair value or cash flows of a hedged item; (b) the derivative expires or is sold, terminated or exercised; (c) probability exists that the forecasted transaction will no longer occur or (d) management determines that designating the derivative as a hedging instrument is no longer appropriate. When hedge accounting is discontinued and a derivative remains outstanding, the Company recognizes the derivative in the balance sheet at its fair value and changes in the fair value are recognized in net income. At inception, the Company designates a derivative as (a) a fair value hedge of recognized assets or liabilities or of unrecognized firm commitments (fair-value hedge) or (b) a hedge of forecasted transactions or variable cash flows to be received or paid in conjunction with recognized assets or liabilities (cash-flow hedge). For a derivative treated as a fair-value hedge, a change in fair value is recorded as an adjustment to the hedged item and recognized in net income. For a derivative treated as a cash flow hedge, the effective portion of a change in fair value is recorded as an adjustment to the hedged item and recognized as a component of accumulated other comprehensive income (loss) within shareholders’ equity. For a derivative treated as a cash flow hedge, the ineffective portion of a change in fair value is recorded as an adjustment to the hedged item and recognized in net income. For more information on derivative financial instruments see Note 13 to the Consolidated Financial Statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, valuation of other real estate owned, and the evaluation for other-than-temporary impairment of investment securities. Stock Repurchase Program On June 20, 2018 , the Corporation renewed the stock repurchase program to repurchase up to 150,000 shares of its common stock prior to June 30, 2019 . During 2018 , the Company purchased 39,333 shares of its Common Stock under its stock repurchase program at an average price of $32.06 . During 2017 , the Company purchased 52,936 shares of its Common Stock under its stock repurchase program at an average price of $29.54 . During 2016 , the Company purchased 89,607 shares of its Common Stock under its stock repurchase program at an average price of $23.92 . The maximum number of shares that may yet be purchased under the plan as of December 31, 2018 are 115,667 . Recently Adopted Accounting Standards On January 1, 2018, the Company adopted ASU No. 2014-09, "Revenue from Contracts with Customers: Topic 606." This ASU revised guidance for the recognition, measurement, and disclosure of revenue from contracts with customers. The original guidance was amended through subsequent accounting standard updates that resulted in technical corrections, improvements, and a one year deferral of the effective date to January 1, 2018. The guidance, as amended, is applicable to all entities and replaces significant portions of existing industry and transaction-specific revenue recognition rules with a more principles-based recognition model. Most revenue associated with financial instruments, including interest income, loan origination fees, and credit card fees, is outside the scope of the guidance. Gains and losses on investment securities, derivatives, financial guarantees, and sales of financial instruments are similarly excluded from the scope. The guidance is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, and merchant income. The Company adopted this guidance via the modified retrospective approach, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. Since the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the new guidance did not have a material impact on revenue most closely associated with financial instruments, including interest income and expense. The Company completed its overall assessment of revenue streams and review of related contracts potentially affected by the ASU, including trust and asset management fees, deposit related fees, interchange fees, and merchant income. The Company also completed an evaluation of certain costs related to these revenue streams to determine whether such costs should be presented gross versus net. Based on these assessments, the Company concluded that ASU 2014-09 did not materially change the method in which the Company currently recognizes revenue for these revenue streams. Since there was no net income impact upon adoption of the new guidance, a cumulative effect adjustment to opening retained earnings was not deemed necessary. Refer to Note 19 of the Consolidated Financial Statements for further discussion. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” Among other things, in the amendments in ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) A lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The FASB made subsequent amendments to Topic 842 in July 2018 through ASU 2018-10 (“Codification Improvements to Topic 842, Leases.”) and ASU 2018-11 (“Leases (Topic 842): Targeted Improvements.”) Among these amendments is the provision in ASU 2018-11 that provides entities with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity’s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with current GAAP (Topic 840, Leases). While the Company has evaluated this ASU and the effect of related disclosures, the Company expects that the primary effect of adoption will be to require recording a right-of-use asset and corresponding lease obligation for the current operating lease, which is estimated at approximately $3.8 million, as of the adoption of this standard. During June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The amendments in this ASU are effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is currently assessing the impact that ASU 2016-13 will have on its consolidated financial statements. The Company formed a CECL committee during 2016 which continues to meet monthly to address the compliance requirements. Historic loan data has been gathered and reviewed for completeness and accuracy. In addition, the committee has selected a third-party that will assist in calculating the financial impact of ASU 2016-13 and anticipates running parallel allowance models under the current and new standard by the second quarter of 2019. During March 2017, the FASB issued ASU 2017‐08, “Receivables-Nonrefundable Fees and Other Costs (Subtopic 310‐20), Premium Amortization on Purchased Callable Debt Securities.” The amendments in this ASU shorten the amortization period for certain callable debt securities purchased at a premium. Upon adoption of the standard, premiums on these qualifying callable debt securities will be amortized to the earliest call date. Discounts on purchased debt securities will continue to be accreted to maturity. The amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. Upon transition, entities should apply the guidance on a modified retrospective basis, with a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption and provide the disclosures required for a change in accounting principle. The Company is currently assessing the impact that ASU 2017‐08 will have on its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, “Compensation- Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting.” The amendments expand the scope of Topic 718 to include share-based payments issued to nonemployees for goods or services and supersedes Subtopic 505-50. As a result, the accounting for share-based payments to non |
Securities
Securities | 12 Months Ended |
Dec. 31, 2018 | |
Available-for-sale Securities [Abstract] | |
Securities | Securities Amortized costs and fair values of securities available for sale at December 31, 2018 and 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value December 31, 2018 (in thousands) Obligations of U.S. government corporations and agencies $ 22,183 $ 29 $ (481 ) $ 21,731 Mortgage-backed securities 77,976 145 (1,638 ) 76,483 Obligations of states and political subdivisions 46,159 394 (469 ) 46,084 $ 146,318 $ 568 $ (2,588 ) $ 144,298 December 31, 2017 (in thousands) Obligations of U.S. government corporations and agencies $ 21,565 $ 213 $ (258 ) $ 21,520 Mortgage-backed securities 61,464 126 (346 ) 61,244 Obligations of states and political subdivisions 49,199 789 (186 ) 49,802 $ 132,228 $ 1,128 $ (790 ) $ 132,566 Carrying amounts of restricted securities at December 31, 2018 and 2017 were as follows: December 31, 2018 December 31, 2017 (in thousands) Federal Reserve Bank Stock $ 344 $ 344 Federal Home Loan Bank Stock 686 623 Community Bankers’ Bank Stock 140 140 $ 1,170 $ 1,107 The amortized cost and fair value of securities available for sale at December 31, 2018 , by contractual maturity, are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without any penalties. Amortized Cost Fair Value (in thousands) Due in one year or less $ 1,356 $ 1,361 Due after one year through five years 12,011 12,043 Due after five years through ten years 49,511 48,933 Due after ten years 83,440 81,961 $ 146,318 $ 144,298 During the twelve months ended December 31, 2018 , the Company sold $ 5.4 million in available for sale securities with gross gains of $62 thousand and gross losses of $45 thousand . During the twelve months ended December 31, 2017 , the Company sold $20.3 million in available for sale securities with gross gains of $94 thousand and gross losses of $104 thousand . During the twelve months ended December 31, 2016 , the Company sold $11.4 million in available for sale securities with gross gains of $108 thousand and gross losses of $10 thousand . The fair value and gross unrealized losses for securities available for sale, totaled by the length of time that individual securities have been in a continuous gross unrealized loss position, at December 31, 2018 and 2017 were as follows: Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses December 31, 2018 (in thousands) Obligations of U.S. government corporations and agencies $ 1,973 $ 6 $ 13,710 $ 475 $ 15,683 $ 481 Mortgage-backed securities 16,659 332 42,966 1,306 59,625 1,638 Obligations of states and political subdivisions 3,594 52 12,864 417 16,458 469 $ 22,226 $ 390 $ 69,540 $ 2,198 $ 91,766 $ 2,588 December 31, 2017 (in thousands) Obligations of U.S. government corporations and agencies $ 4,455 $ 58 $ 7,810 $ 200 $ 12,265 $ 258 Mortgage-backed securities 11,885 59 17,931 287 29,816 346 Obligations of states and political subdivisions 4,071 27 4,692 159 8,763 186 $ 20,411 $ 144 $ 30,433 $ 646 $ 50,844 $ 790 Gross unrealized losses on available for sale securities included ninety-five ( 95 ) and fifty-four ( 54 ) debt securities at December 31, 2018 and December 31, 2017 , respectively. The Company evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. The Company’s mortgage-backed securities are issued by U.S. government agencies, which guarantee payments to investors regardless of the status of the underlying mortgages. Consideration is given to the length of time and the amount of an unrealized loss, the financial condition of the issuer, and the intent and ability of the Company to retain its investment in the issuer long enough to allow for an anticipated recovery in fair value. The fair value of a security reflects its liquidity as compared to similar instruments, current market rates on similar instruments, and the creditworthiness of the issuer. Absent any change in the liquidity of a security or the creditworthiness of the issuer, prices will decline as market rates rise and vice-versa. The primary cause of the unrealized losses at December 31, 2018 and December 31, 2017 was changes in market interest rates. Since the losses can be primarily attributed to changes in market interest rates and not expected cash flows or an issuer’s financial condition, the unrealized losses are deemed to be temporary and management does not intend to sell and it is unlikely that management will be required to sell the securities prior to their anticipated recovery. The Company monitors the financial condition of these issuers continuously and will record other-than-temporary impairment if the recovery of value is unlikely. The Company’s securities are exposed to various risks, such as interest rate, market, currency and credit risks. Due to the level of risk associated with certain securities and the level of uncertainty related to changes in the value of securities, it is at least reasonably possible that changes in risks in the near term would materially affect securities reported in the financial statements. In addition, recent economic uncertainty and market events have led to unprecedented volatility in currency, commodity, credit and equity markets culminating in failures of some banking and financial services firms and government intervention to solidify others. These events underscore the level of investment risk associated with the current economic environment, and accordingly the level of risk in the Company’s securities. Securities having a carrying value of $2.9 million at December 31, 2018 were pledged for various purposes required by law. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2018 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans | Loans The composition of loans at December 31, 2018 and 2017 was as follows: December 31, 2018 2017 (in thousands) Mortgage loans on real estate: Construction and land development $ 54,675 $ 43,786 Secured by farmland 7,251 8,568 Secured by 1-4 family residential properties 221,861 223,210 Multifamily 7,923 4,095 Commercial 265,595 239,915 Commercial and industrial loans 33,086 37,427 Consumer installment loans 8,470 10,187 All other loans 8,454 2,050 Total loans $ 607,315 $ 569,238 Net deferred loan fees (488 ) (421 ) Allowance for loan losses (5,456 ) (4,411 ) Net Loans $ 601,371 $ 564,406 |
Allowance for Loan Losses
Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Allowance for Loan Losses Changes in the allowance for loan losses for the years December 31, 2018 , 2017 and 2016 were as follows: December 31, 2018 2017 2016 (in thousands) Balance, beginning $ 4,411 $ 4,505 $ 4,959 Provision for (recovery of) loan losses 777 (625 ) (188 ) Recoveries added to the allowance 504 901 341 Loan losses charged to the allowance (236 ) (370 ) (607 ) Balance, ending $ 5,456 $ 4,411 $ 4,505 Nonaccrual and past due loans by class at December 31, 2018 and December 31, 2017 were as follows: December 31, 2018 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Nonaccrual Commercial - Non Real Estate: Commercial & Industrial $ 127 $ — $ — $ 127 $ 32,959 $ 33,086 $ — $ 1,081 Commercial Real Estate: Owner Occupied — — — — 136,309 136,309 — — Non-owner occupied — — — — 129,286 129,286 — 364 Construction and Farmland: Residential — — — — 6,706 6,706 — — Commercial — — — — 55,220 55,220 — — Consumer: Installment 4 — — 4 8,466 8,470 — — Residential: Equity Lines — — — — 32,815 32,815 — 92 Single family 960 196 900 2,056 186,990 189,046 695 581 Multifamily — — — — 7,923 7,923 — — All Other Loans — — — — 8,454 8,454 — — Total $ 1,091 $ 196 $ 900 $ 2,187 $ 605,128 $ 607,315 $ 695 $ 2,118 December 31, 2017 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Nonaccrual Commercial - Non Real Estate: Commercial & Industrial $ 75 $ 10 $ 142 $ 227 $ 37,200 $ 37,427 $ — $ 594 Commercial Real Estate: Owner Occupied — — — — 127,018 127,018 — — Non-owner occupied — 368 — 368 112,529 112,897 — 767 Construction and Farmland: Residential — — — — 3,214 3,214 — — Commercial 187 — — 187 48,953 49,140 — — Consumer: Installment 17 — 2 19 10,168 10,187 — 13 Residential: Equity Lines 18 — — 18 32,820 32,838 — 44 Single family 829 572 4,060 5,461 184,911 190,372 — 4,921 Multifamily — — — — 4,095 4,095 — — All Other Loans — — — — 2,050 2,050 — — Total $ 1,126 $ 950 $ 4,204 $ 6,280 $ 562,958 $ 569,238 $ — $ 6,339 Allowance for loan losses by segment at December 31, 2018 , December 31, 2017 and December 31, 2016 were as follows: As of and for the Twelve Months Ended December 31, 2018 (in thousands) Construction Residential Commercial Commercial Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 332 $ 1,754 $ 1,627 $ 570 $ 69 $ 29 $ 30 $ 4,411 Charge-Offs — (24 ) — (139 ) (33 ) (40 ) — (236 ) Recoveries 266 28 78 100 19 13 — 504 Provision (recovery) (15 ) 30 283 388 (2 ) 95 (2 ) 777 Ending balance $ 583 $ 1,788 $ 1,988 $ 919 $ 53 $ 97 $ 28 $ 5,456 Ending balance: Individually evaluated for impairment $ — $ 119 $ 193 $ 650 $ — $ — $ — $ 962 Ending balance: collectively evaluated for impairment $ 583 $ 1,669 $ 1,795 $ 269 $ 53 $ 97 $ 28 $ 4,494 Loans: Ending balance $ 61,926 $ 229,784 $ 265,595 $ 33,086 $ 8,470 $ 8,454 $ — $ 607,315 Ending balance individually evaluated for impairment $ 280 $ 4,044 $ 2,919 $ 1,316 $ — $ — $ — $ 8,559 Ending balance collectively evaluated for impairment $ 61,646 $ 225,740 $ 262,676 $ 31,770 $ 8,470 $ 8,454 $ — $ 598,756 As of and for the Twelve Months Ended December 31, 2017 (in thousands) Construction Residential Commercial Commercial Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 450 $ 1,992 $ 1,522 $ 235 $ 69 $ 22 $ 215 $ 4,505 Charge-Offs (19 ) (55 ) (1 ) (187 ) (59 ) (49 ) — (370 ) Recoveries 535 212 65 44 40 5 — 901 Provision (recovery) (634 ) (395 ) 41 478 19 51 (185 ) (625 ) Ending balance $ 332 $ 1,754 $ 1,627 $ 570 $ 69 $ 29 $ 30 $ 4,411 Ending balance: Individually evaluated for impairment $ — $ 195 $ 59 $ 195 $ 9 $ — $ — $ 458 Ending balance: collectively evaluated for impairment $ 332 $ 1,559 $ 1,568 $ 375 $ 60 $ 29 $ 30 $ 3,953 Loans: Ending balance $ 52,354 $ 227,305 $ 239,915 $ 37,427 $ 10,187 $ 2,050 $ — $ 569,238 Ending balance individually evaluated for impairment $ 315 $ 8,315 $ 1,904 $ 858 $ 34 $ — $ — $ 11,426 Ending balance collectively evaluated for impairment $ 52,039 $ 218,990 $ 238,011 $ 36,569 $ 10,153 $ 2,050 $ — $ 557,812 As of and for the Twelve Months Ended December 31, 2016 (in thousands) Construction Residential Commercial Commercial Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 775 $ 2,322 $ 1,268 $ 211 $ 109 $ 53 $ 221 $ 4,959 Charge-Offs — (535 ) — — (30 ) (42 ) — (607 ) Recoveries 144 124 8 11 49 5 — 341 Provision (recovery) (469 ) 81 246 13 (59 ) 6 (6 ) (188 ) Ending balance $ 450 $ 1,992 $ 1,522 $ 235 $ 69 $ 22 $ 215 $ 4,505 Ending balance: Individually evaluated for impairment $ — $ 268 $ 102 $ 15 $ — $ — $ — $ 385 Ending balance: collectively evaluated for impairment $ 450 $ 1,724 $ 1,420 $ 220 $ 69 $ 22 $ 215 $ 4,120 Loans: Ending balance $ 31,791 $ 231,532 $ 208,525 $ 30,341 $ 12,677 $ 2,259 $ — $ 517,125 Ending balance individually evaluated for impairment $ 1,320 $ 8,608 $ 2,864 $ 581 $ 7 $ — $ — $ 13,380 Ending balance collectively evaluated for impairment $ 30,471 $ 222,924 $ 205,661 $ 29,760 $ 12,670 $ 2,259 $ — $ 503,745 Beginning with the quarter ended September 30, 2018, the Company changed its allowance methodology for the look-back period used in calculating the loss history portion of the general reserves assigned to unimpaired credits. During this quarter, management determined it necessary to extend the loss history period utilized in the calculation from five years to seven years in light of current trends for growth and asset quality, as well as the ongoing economic cycle and the Bank's overall lending environment. The Company believes that the expanded loss history is more indicative of the losses and risks inherent in the portfolio. The following table represents the effect on the loan loss provision for the twelve months ended December 31, 2018 as a result of the change in allowance methodology from that used in prior periods. (in thousands) Calculated Provision Based on Current Methodology Calculated Provision Based on Prior Methodology Difference Portfolio Segment: Construction and Farmland $ (15 ) $ (197 ) $ 182 Residential Real Estate 30 (161 ) 191 Commercial Real Estate 283 140 143 Commercial 388 326 62 Consumer (2 ) (7 ) 5 All Other Loans 95 102 (7 ) Total, excluding unallocated $ 779 $ 203 $ 576 Impaired loans by class at December 31, 2018 and December 31, 2017 were as follows: As of and for the Year Ended December 31, 2018 (in thousands) Unpaid Recorded Related Average Interest With no related allowance: Commercial - Non Real Estate: Commercial & Industrial $ 564 $ 356 $ — $ 422 $ 25 Commercial Real Estate: Owner Occupied — — — — — Non-owner occupied 558 501 — 511 4 Construction and Farmland: Residential — — — — — Commercial 332 281 — 297 27 Consumer: Installment — — — — — Residential: Equity lines 468 92 — 93 — Single family 2,616 2,499 — 2,565 101 Multifamily 284 286 — 289 14 Other Loans — — — — — $ 4,822 $ 4,015 $ — $ 4,177 $ 171 With an allowance recorded: Commercial - Non Real Estate: Commercial & Industrial $ 971 $ 960 $ 650 $ 1,063 $ 60 Commercial Real Estate: Owner Occupied — — — — — Non-owner occupied 2,418 2,425 193 2,454 101 Construction and Farmland: Residential — — — — — Commercial — — — — — Consumer: Installment — — — — — Residential: Equity lines — — — — — Single family 1,242 1,190 119 1,204 51 Multifamily — — — — — Other Loans — — — — — $ 4,631 $ 4,575 $ 962 $ 4,721 $ 212 Total: Commercial $ 1,535 $ 1,316 $ 650 $ 1,485 $ 85 Commercial Real Estate 2,976 2,926 193 2,965 105 Construction and Farmland 332 281 — 297 27 Consumer — — — — — Residential 4,610 4,067 119 4,151 166 Other — — — — — Total $ 9,453 $ 8,590 $ 962 $ 8,898 $ 383 (1) Recorded investment is defined as the summation of the outstanding principal balance, accrued interest, and any partial charge-offs. As of and for the Year Ended December 31, 2017 (in thousands) Unpaid Recorded Related Average Interest With no related allowance: Commercial - Non Real Estate: Commercial & Industrial $ 626 $ 304 $ — $ 342 $ 23 Commercial Real Estate: Owner Occupied 330 331 — 336 15 Non-owner occupied 805 767 — 785 20 Construction and Farmland: Residential — — — — — Commercial 362 316 — 330 28 Consumer: Installment 25 25 — 27 1 Residential: Equity lines — — — — — Single family 7,371 6,985 — 7,069 124 Multifamily — — — — — Other Loans — — — — — $ 9,519 $ 8,728 $ — $ 8,889 $ 211 With an allowance recorded: Commercial - Non Real Estate: Commercial & Industrial $ 595 $ 556 $ 195 $ 567 $ 17 Commercial Real Estate: Owner Occupied — — — — — Non-owner occupied 806 809 59 817 37 Construction and Farmland: Residential — — — — — Commercial — — — — — Consumer: Installment 9 9 9 9 — Residential: Equity lines 217 44 44 45 — Single family 1,349 1,299 151 1,315 57 Multifamily — — — — — Other Loans — — — — — $ 2,976 $ 2,717 $ 458 $ 2,753 $ 111 Total: Commercial $ 1,221 $ 860 $ 195 $ 909 $ 40 Commercial Real Estate 1,941 1,907 59 1,938 72 Construction and Farmland 362 316 — 330 28 Consumer 34 34 9 36 1 Residential 8,937 8,328 195 8,429 181 Other — — — — — Total $ 12,495 $ 11,445 $ 458 $ 11,642 $ 322 (1) Recorded investment is defined as the summation of the outstanding principal balance, accrued interest, and any partial charge-offs. For the year ended December 31, 2016 , the average recorded investment of impaired loans was $13.7 million . The interest income recognized on impaired loans was $415 thousand in 2016 . When the ultimate collectability of the total principal of an impaired loan is in doubt and the loan is in nonaccrual status, all payments are applied to principal under the cost-recovery method. For financial statement purposes, the recorded investment in nonaccrual loans is the actual principal balance reduced by payments that would otherwise have been applied to interest. When reporting information on these loans to the applicable customers, the unpaid principal balance is reported as if payments were applied to principal and interest under the original terms of the loan agreements. Therefore, the unpaid principal balance reported to the customer would be higher than the recorded investment in the loan for financial statement purposes. When the ultimate collectability of the total principal of the impaired loan is not in doubt and the loan is in nonaccrual status, contractual interest is credited to interest income when received under the cash-basis method. The Company uses a rating system for evaluating the risks associated with non-consumer loans. Consumer loans are not evaluated for risk unless the characteristics of the loan fall within classified categories. Descriptions of these ratings are as follows: Pass Pass loans exhibit acceptable history of profits, cash flow ability and liquidity. Sufficient cash flow exists to service the loan. All obligations have been paid by the borrower in an as agreed manner. Pass Monitored Pass monitored loans may be experiencing income and cash volatility, inconsistent operating trends, nominal liquidity and/or a leveraged balance sheet. A higher level of supervision is required for these loans as the potential for a negative event could impact the borrower’s ability to repay the loan. Special mention Special mention loans exhibit negative trends and potential weakness that, if left uncorrected, may negatively affect the borrower’s ability to repay its obligations. The risk of default is not imminent and the borrower still demonstrates sufficient financial strength to service debt. Substandard Substandard loans exhibit well defined weaknesses resulting in a higher probability of default. The borrowers exhibit adverse financial trends and a diminishing ability or willingness to service debt. Doubtful Doubtful loans exhibit all of the characteristics inherent in substandard loans; however given the severity of weaknesses, the collection of 100% of the principal is unlikely under current conditions. Loss Loss loans are considered uncollectible over a reasonable period of time and of such little value that its continuance as a bankable asset is not warranted. Credit quality information by class at December 31, 2018 and December 31, 2017 was as follows: As of December 31, 2018 (in thousands) INTERNAL RISK RATING GRADES Pass Pass Monitored Special Substandard Doubtful Loss Total Commercial - Non Real Estate: Commercial & Industrial $ 28,699 $ 2,292 $ 995 $ 1,100 $ — $ — $ 33,086 Commercial Real Estate: Owner Occupied 110,418 16,665 9,187 39 — — 136,309 Non-owner occupied 106,658 17,139 3,397 2,092 — — 129,286 Construction and Farmland: Residential 2,295 1,120 3,291 — — — 6,706 Commercial 16,682 22,533 15,658 347 — — 55,220 Residential: Equity Lines 31,813 910 — 16 76 — 32,815 Single family 172,360 11,567 2,704 2,270 145 — 189,046 Multifamily 7,160 479 — 284 — — 7,923 All other loans 8,435 19 — — — — 8,454 Total $ 484,520 $ 72,724 $ 35,232 $ 6,148 $ 221 $ — $ 598,845 Performing Nonperforming Consumer Credit Exposure by Payment Activity $ 8,466 $ 4 As of December 31, 2017 (in thousands) INTERNAL RISK RATING GRADES Pass Pass Monitored Special Substandard Doubtful Loss Total Commercial - Non Real Estate: Commercial & Industrial $ 33,279 $ 1,788 $ 1,748 $ 612 $ — $ — $ 37,427 Commercial Real Estate: Owner Occupied 112,649 10,893 3,146 330 — — 127,018 Non-owner occupied 82,050 17,992 12,088 767 — — 112,897 Construction and Farmland: Residential 2,614 600 — — — — 3,214 Commercial 30,093 17,069 1,663 315 — — 49,140 Residential: Equity Lines 32,495 299 — — 44 — 32,838 Single family 177,829 5,869 155 6,327 192 — 190,372 Multifamily 3,588 — 507 — — — 4,095 All other loans 2,050 — — — — — 2,050 Total $ 476,647 $ 54,510 $ 19,307 $ 8,351 $ 236 $ — $ 559,051 Performing Nonperforming Consumer Credit Exposure by Payment Activity $ 10,168 $ 19 Zero consumer loans were rated below Pass at December 31, 2018 . Three consumer loan totaling $13 thousand was rated below Pass at December 31, 2017 . |
Troubled Debt Restructurings
Troubled Debt Restructurings | 12 Months Ended |
Dec. 31, 2018 | |
Troubled Debt Restructuring Note, Debtor [Abstract] | |
Troubled Debt Restructurings | Troubled Debt Restructurings All loans deemed a troubled debt restructuring, or “TDR”, are considered impaired, and are evaluated for collateral and cash-flow sufficiency. A loan is considered a TDR when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that the Company would not otherwise consider. All of the following factors are indicators that the Bank has granted a concession (one or multiple items may be present): • The borrower receives a reduction of the stated interest rate to a rate less than the institution is willing to accept at the time of the restructure for a new loan with comparable risk. • The borrower receives an extension of the maturity date or dates at a stated interest rate lower than the current market interest rate for new debt with similar risk characteristics. • The borrower receives a reduction of the face amount or maturity amount of the debt as stated in the instrument or other agreement. • The borrower receives a deferral of required payments (principal and/or interest). • The borrower receives a reduction of the accrued interest. There were nineteen ( 19 ) troubled debt restructured loans totaling $3.8 million at December 31, 2018 . At December 31, 2017 , there were twenty-one ( 21 ) troubled debt restructured loans totaling $4.4 million . Two loans, totaling $118 thousand , were in nonaccrual status at December 31, 2018 . One loan, totaling $44 thousand , was in nonaccrual status at December 31, 2017 . There were no outstanding commitments to lend additional amounts to troubled debt restructured borrowers at December 31, 2018 or December 31, 2017 . The following tables set forth information on the Company’s troubled debt restructurings by class of financing receivable occurring during the years ended December 31, 2018 , 2017 and 2016 : For the Year Ended December 31, 2018 (in thousands) Number of Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Residential: Single family 1 $ 86 $ 86 Total 1 $ 86 $ 86 For the Year Ended December 31, 2017 (in thousands) Number of Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Consumer: Installment 1 $ 22 $ 22 Total 1 $ 22 $ 22 For the Year Ended December 31, 2016 (in thousands) Number of Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial Real Estate: Non-owner occupied 1 $ 736 $ 736 Residential: Single family 4 560 463 Total 5 $ 1,296 $ 1,199 During the twelve months ended December 31, 2018 , the Company restructured one single family residential loan by granting a concession to the borrower experiencing financial difficulty by extending the maturity date. During the twelve months ended December 31, 2017 , the Company restructured one consumer installment loan by consolidating debt and reducing the interest rate. During the twelve months ended December 31, 2016 , the Company restructured five loans by granting concessions to borrowers experiencing financial difficulties. One residential loan and one commercial real estate loan was modified by extending the amortization period and reducing the interest rate. Two residential loans were modified by reducing the payments to be affordable for the borrower. One residential loan was modified by changing payments to interest-only in order to reduce the monthly payment for a period of time. Loans by class of financing receivable modified as TDRs within the previous 12 months and for which there was a payment default during the stated periods were: For the Year Ended December 31, 2018 (in thousands) Number of Contracts Recorded Investment Total — $ — For the Year Ended December 31, 2017 (in thousands) Number of Recorded Total — $ — For the Year Ended December 31, 2016 (in thousands) Number of Recorded Residential: Single family 2 $ 588 Total 2 $ 588 Management defines default as over 30 days contractually past due under the modified terms, the foreclosure and/or repossession of the collateral, or the charge-off of the loan during the twelve month period subsequent to the modification. |
Bank Premises and Equipment, Ne
Bank Premises and Equipment, Net | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Bank Premises and Equipment, Net | Bank Premises and Equipment, Net The major classes of bank premises and equipment and the total accumulated depreciation at December 31, 2018 and 2017 were as follows: December 31, 2018 2017 (in thousands) Land $ 6,729 $ 6,729 Buildings and improvements 18,100 17,970 Furniture and equipment 7,312 7,100 $ 32,141 $ 31,799 Less accumulated depreciation 13,058 12,220 Bank premises and equipment, net $ 19,083 $ 19,579 Depreciation expense on buildings and improvements was $483 thousand , $484 thousand , and $484 thousand for the years ended 2018 , 2017 , and 2016 , respectively. Depreciation expense on furniture and equipment was $442 thousand , $462 thousand , and $448 thousand for the years ended 2018 , 2017 , and 2016 , respectively. As of December 31, 2018 , one facility was under an operating lease, which expires in 2030. This lease requires payment of certain operating expenses and contains renewal options. The total minimum rental commitment at December 31, 2018 under this lease was due as follows: December 31, 2018 (in thousands) 2019 $ 200 2020 213 2021 220 2022 220 2023 220 Thereafter 1,504 $ 2,577 The total building and equipment rental expense was $230 thousand , $232 thousand , and $236 thousand in 2018 , 2017 , and 2016 , respectively. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Deposits [Abstract] | |
Deposits | Deposits The composition of deposits at December 31, 2018 and December 31, 2017 was as follows: December 31, 2018 2017 (in thousands) Noninterest bearing demand deposits $ 251,184 $ 234,990 Savings and interest bearing demand deposits: NOW accounts $ 91,549 $ 91,288 Money market accounts 140,581 129,497 Regular savings accounts 104,648 102,163 $ 336,778 $ 322,948 Time deposits: Balances of less than $250,000 $ 62,063 $ 62,681 Balances of $250,000 and more 53,079 42,795 $ 115,142 $ 105,476 $ 703,104 $ 663,414 Money market accounts include $18.4 million and $20.3 million in reciprocal deposits at December 31, 2018 and 2017 , respectively. Time deposits with balances of less than $250,000 include $212 thousand and $210 thousand in reciprocal certificates of deposit at December 31, 2018 and 2017 , respectively. There were no time deposits with balances of $250,000 or more in reciprocal certificates of deposit at December 31, 2018 and 2017 , respectively. The outstanding balance of time deposits at December 31, 2018 was due as follows: December 31, 2018 (in thousands) 2019 $ 99,562 2020 7,033 2021 5,715 2022 1,732 2023 1,091 Thereafter 9 $ 115,142 Deposit overdrafts reclassified as loans totaled $183 thousand and $115 thousand at December 31, 2018 and 2017 , respectively. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Advances from Federal Home Loan Banks [Abstract] | |
Borrowings | Borrowings The Company, through its subsidiary bank, borrows funds in the form of federal funds purchased and Federal Home Loan Bank advances. Federal fund lines of credit are extended to the Bank by nonaffiliated banks with which a correspondent banking relationship exists. The line of credit amount is determined by the creditworthiness of the Bank and, in particular, its regulatory capital ratios, which are discussed in Note 15. Federal funds purchased generally mature each business day. The following table summarizes information related to federal funds purchased for the years ended December 31, 2018 and 2017 : December 31, 2018 2017 (dollars in thousands) Balance at year-end $ 1,871 $ — Average balance during the year $ 964 $ 823 Average interest rate during the year 2.63 % 1.64 % Maximum month-end balance during the year $ 7,820 $ 3,413 Gross lines of credit at year-end $ 28,000 $ 28,000 Unused lines of credit at year-end $ 26,129 $ 28,000 As of December 31, 2018 , the Company also had a $5.0 million unused line of credit, in addition to the $28.0 million in federal funds lines of credit listed in the table above. As of December 31, 2018 , Company had remaining credit availability in the amount of $169.6 million with the Federal Home Loan Bank of Atlanta. This line may be utilized for short and/or long-term borrowing. Advances on the line are secured by all of the Company’s eligible first lien residential real estate loans on one-to-four-unit, single-family dwellings; multi-family dwellings; home equity lines of credit; and commercial real estate loans. The amount of the available credit is limited to a percentage of the estimated market value of the loans as determined periodically by the FHLB of Atlanta. The amount of the available credit is also limited to 20% of total Bank assets. The Company had no borrowings with the FHLB at December 31, 2018 or December 31, 2017 . The Company had a $25.0 million irrevocable letter of credit at December 31, 2018 with the FHLB to secure public deposits. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company files income tax returns with the United States of America,the Commonwealth of Virginia and West Virginia. With few exceptions, the Company is no longer subject to federal, state, or local income tax examinations for years prior to 2015. The net deferred tax asset at December 31, 2018 and 2017 consisted of the following components: December 31, 2018 2017 (in thousands) Deferred tax assets: Allowance for loan losses $ 1,141 $ 922 Deferred compensation 92 72 Accrued postretirement benefits 23 23 Home equity origination costs 51 46 Nonaccrual interest 41 101 Securities available for sale 424 — Credit carryforward 216 — Other 54 53 $ 2,042 $ 1,217 Deferred tax liabilities: Property and equipment $ 508 $ 506 Securities available for sale — 71 $ 508 $ 577 Net deferred tax asset $ 1,534 $ 640 The Company has not recorded a valuation allowance for deferred tax assets because management believes that it is more likely than not that they will be ultimately realized. Income tax expense for the years ended December 31, 2018 , 2017 and 2016 consisted of the following components: December 31, 2018 2017 2016 (in thousands) Current tax expense $ 1,713 $ 3,094 $ 2,346 Deferred tax (benefit) expense (399 ) 135 207 Deferred tax adjustment for enacted rate change — 397 — $ 1,314 $ 3,626 $ 2,553 The following table reconciles income tax expense to the statutory federal corporate income tax amount, which was calculated by applying the federal corporate income tax rate to pre-tax income for the years ended December 31, 2018 , 2017 and 2016 . December 31, 2018 2017 2016 (in thousands) Statutory federal corporate tax amount $ 2,166 $ 3,880 $ 3,034 Tax-exempt interest (income) (301 ) (417 ) (387 ) Officer insurance loss (income) 13 (92 ) 15 Net tax credits (605 ) (165 ) (126 ) Corporate tax rate change — 397 — Other, net 41 23 17 $ 1,314 $ 3,626 $ 2,553 The effective tax rates were 12.74% , 31.77% , and 28.62% , for years ended December 31, 2018 , 2017 , and 2016 , respectively. The decrease in the 2018 effective tax rate resulted from two factors. First, the corporate income tax rate was reduced from 34% to 21%, effective January 1, 2018 as a result of the Tax Cuts and Jobs Act. The effective tax rate is also impacted by tax credits on qualified affordable housing project investments as discussed in Note 25 to the Consolidated Financial Statements as well as qualified rehabilitation credits. During the third quarter of 2018, one of the Company’s rehabilitation tax credit investments was finalized and the total amount of credits to be received was determined and certified. The increase in the 2017 effective tax rate resulted mostly from the Tax Cuts and Jobs Act that was signed into law on December 22, 2017. The Company's deferred tax assets and liabilities were adjusted at December 31, 2017, for the reduction of our applicable corporate income tax rate from 34% to 21%, effective January 1, 2018. This adjustment resulted in a write-down of our net deferred tax assets and an increase in our federal income tax expense of $397 thousand. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Restricted Stock provides grantees with rights to shares of common stock upon completion of a service period or achievement of Company performance measures. During the restriction period, all shares are considered outstanding and dividends are paid to the grantee. Outside directors are periodically granted restricted shares which vest over a period of less than nine months. During 2018 , executive officers were granted restricted shares which vest over a three year service period and restricted shares which vest based on meeting performance measures over a one year period. Beginning in 2018, certain non-executive officers also were granted restricted shares which vest over a 3 year service period. Vesting schedules were unchanged from the two prior years. The following table presents the activity for Restricted Stock for the years ended December 31, 2018 , 2017 and 2016 : Twelve Months Ended December 31, 2018 2017 2016 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Nonvested, beginning of period 14,401 $ 24.68 14,901 $ 23.05 14,401 $ 22.98 Granted 16,950 32.84 14,650 27.46 14,650 23.07 Vested (14,609 ) 28.38 (14,493 ) 25.90 (13,196 ) 23.00 Forfeited (41 ) 25.50 (657 ) 23.00 (954 ) 23.00 Nonvested, end of period 16,701 $ 29.72 14,401 $ 24.68 14,901 $ 23.05 The Company recognizes compensation expense over the vesting period based on the fair value of the Company's stock on the grant date. Compensation expense was $518 thousand , $382 thousand , and $314 thousand during December 31, 2018 , 2017 , and 2016 , respectively. The total grant date fair value of Restricted Stock which vested was $415 thousand and $375 thousand for the years ended December 31, 2018 and 2017 , respectively. The total vest date fair value of Restricted Stock which vested was $473 thousand and $398 thousand for the years ended December 31, 2018 and 2017 , respectively. Unrecognized compensation cost related to unvested Restricted Stock was $106 thousand at December 31, 2018 . This amount is expected to be recognized over a weighted average period of one year. The Company's policy is to recognize forfeitures as they occur. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2018 | |
Defined Contribution Plan [Abstract] | |
Employee Benefits | Employee Benefits The Company has established an Employee Stock Ownership Plan (ESOP) to provide additional retirement benefits to substantially all employees. Contributions can be made to the Bank of Clarke County Employee Retirement Trust to be used to purchase the Company’s common stock. There were no contributions in 2018 , 2017 , and 2016 . The Company sponsors a 401(k) savings plan under which eligible employees may defer a portion of salary on a pretax basis, subject to certain IRS limits. Prior to January 1, 2007 , the Company matched 50 percent of employee contributions, on a maximum of six percent of salary deferred, with Company common stock or cash, as elected by each employee. The shares for this purpose are provided principally by the Company’s employee stock ownership plan (ESOP), supplemented, as needed, by newly issued shares. In conjunction with amending the pension plan, the 401(k) plan was amended, effective January 1, 2007 , to include a non-elective safe-harbor employer contribution and an age-weighted employer contribution. Each December 31 st , qualifying employees will receive a non-elective safe-harbor contribution equal to three percent of their salary for that year. Also, each December 31 st , qualifying employees will receive an additional contribution based on their age and years of service. The percentage of salary for the age-weighted contribution increases on both factors, age and years of service, with a minimum of one percent of salary and a maximum of ten percent of salary. Contributions under the plan amounted to $1.0 million in 2018 , $1.0 million in 2017 , and $990 thousand in 2016 . The Company has established an Executive Supplemental Income Plan for certain key employees. Benefits are to be paid in monthly installments following retirement or death. The agreement provides that if employment is terminated for reasons other than death or disability prior to age 65 , the amount of benefits could be reduced or forfeited. The executive supplemental income benefit liability was $49 thousand and $56 thousand at December 31, 2018 and 2017 , respectively. The executive supplemental income benefit expense, based on the present value of the retirement benefits, was $29 thousand in 2018 , $29 thousand in 2017 , and $29 thousand in 2016 . The plan is unfunded; however, life insurance has been acquired on the lives of these employees in amounts sufficient to discharge the plan’s obligations. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies In the normal course of business, the Company makes various commitments and incurs certain contingent liabilities, which are not reflected in the accompanying financial statements. These commitments and contingent liabilities include various guarantees, commitments to extend credit and standby letters of credit. The Company does not anticipate any material losses as a result of these commitments. During the normal course of business, various legal claims arise from time to time which, in the opinion of management, will have no material effect on the Company’s consolidated financial statements. As a member of the Federal Reserve System, the Bank is required to maintain certain average reserve balances. These reserve balances include usable vault cash and amounts on deposit with the Federal Reserve Bank. For the final weekly reporting period in the years ended December 31, 2018 and 2017 , the amount of daily average required balances were approximately $1.6 million and $1.5 million , respectively. For both periods, these required amounts were met by vault cash and no additional amount was required to be on deposit with the Federal Reserve Bank. In addition, the Bank was required to maintain a total compensating balance on deposit with two correspondent banks in the amount of $250 thousand at December 31, 2018 and 2017 . See Note 18 with respect to financial instruments with off-balance-sheet risk. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2018 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Interest Rate Swaps The Company has used interest rate swaps to reduce interest rate risk and to manage interest expense. By entering into these agreements, the Company converts floating rate debt into fixed rate debt, or alternatively, converts fixed rate debt into floating rate debt. Interest differentials paid or received under the swap agreements are reflected as adjustments to interest expense. These interest rate swap agreements are derivative instruments that qualify for hedge accounting as discussed in Note 1. The notional amounts of the interest rate swaps are not exchanged and do not represent exposure to credit loss. In the event of default by a counterparty, the risk in these transactions is the cost of replacing the agreements at current market rates. On December 4, 2008 , the Company entered into an interest rate swap agreement related to the outstanding trust preferred capital notes. The swap agreement became effective on December 1, 2008 . The notional amount of the interest rate swap was $7.0 million and had an expiration date of December 1, 2016 . Under the terms of the agreement, the Company paid interest quarterly at a fixed rate of 2.85% and received interest quarterly at a variable rate of three month LIBOR. The variable rate reset on each interest payment date. This agreement was designated as a cash-flow hedge at inception of the contract until the redemption of the trust preferred capital notes on July 29, 2015. As a result of the redemption, the derivative contract was no longer classified as a cash flow hedge and was recorded in the balance sheet at its fair value with changes in fair value recorded in Other operating income in the Consolidated Statements of Income. The following tables present the effect of the derivative instrument on the Consolidated Statements of Income for the year ended December 31, 2016 : Derivatives not designated as hedging instruments under GAAP Location of Gain (Loss) Amount of Gain (Loss) 2016 (dollars in thousands) Interest rate swap contracts, net of tax Other operating income 149 |
Transactions with Directors and
Transactions with Directors and Officers | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Transactions with Directors and Officers | Transactions with Directors and Officers The Bank grants loans to and accepts deposits from its directors, principal officers and related parties of such persons during the ordinary course of business. The aggregate balance of loans to directors, principal officers and their related parties was $4.1 million and $4.1 million at December 31, 2018 and 2017 , respectively. These balances reflect total principal additions of $5.2 million and total principal payments of $5.2 million , during 2018 . The aggregate balance of deposits from directors, principal officers and their related parties was $21.2 million and $19.4 million at December 31, 2018 and 2017 , respectively. Adjustments were made to prior year amounts for directors and officers that are no longer considered to be related parties. |
Capital Requirements
Capital Requirements | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Capital Requirements | Capital Requirements The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Effective January 1, 2015, the Federal Reserve issued a final rule that made technical changes to its market risk capital rules to align them with the BASEL III regulatory capital framework and meet certain requirements of the Dodd-Frank Act. The phase-in period for the final rules began January 1, 2015 with full compliance with the final rules phased in by January 1, 2019. As a part of this final rule, the Bank was required to begin calculating and disclosing Common Equity Tier 1 Capital to risk weighted assets in 2015. In addition to the minimum regulatory capital required for capital adequacy purposes , the Bank is required to maintain a minimum Capital Conservation Buffer, in the form of common equity, in order to avoid restrictions on capital distributions and discretionary bonuses. The required amount of the Capital Conservation Buffer was 0.625% on January 1, 2016 and has increased by 0.625% each year until it reached 2.5% on January 1, 2019. The Capital Conservation Buffer is applicable to all ratios except the leverage ratio, which is noted below as Tier 1 Capital to Average Assets. The Bank's institution specific capital conservation buffer at December 31, 2018 was 6.88%. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total capital, Tier 1 capital, and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to average assets (as defined). Management believes the Bank met all capital adequacy requirements to which it was subject at December 31, 2018 and 2017 . At December 31, 2018 , the most recent notification from the Federal Reserve categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, Tier 1 leverage, and common equity Tier 1 ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed the Bank’s category. The following table presents the Company’s and the Bank’s actual capital amounts and ratios at December 31, 2018 and 2017 : Minimum To Be Well Minimum Capital Capitalized Under Prompt Corrective Actual Requirement Action Provisions Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2018: Common Equity Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 85,763 13.99 % $ 27,596 4.50 % $ 39,861 6.50 % Total Capital to Risk Weighted Assets Bank of Clarke County $ 91,237 14.88 % $ 49,060 8.00 % $ 61,325 10.00 % Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 85,763 13.99 % $ 36,795 6.00 % $ 49,060 8.00 % Tier 1 Capital to Average Assets Bank of Clarke County $ 85,763 10.92 % $ 31,424 4.00 % $ 39,280 5.00 % December 31, 2017: Common Equity Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 80,150 14.08 % $ 25,622 4.50 % $ 37,009 6.50 % Total Capital to Risk Weighted Assets Bank of Clarke County $ 84,583 14.86 % $ 45,550 8.00 % $ 56,938 10.00 % Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 80,150 14.08 % $ 34,163 6.00 % $ 45,550 8.00 % Tier 1 Capital to Average Assets Bank of Clarke County $ 80,150 10.86 % $ 29,511 4.00 % $ 36,889 5.00 % |
Restrictions On Dividends, Loan
Restrictions On Dividends, Loans, and Advances | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | |
Restrictions On Dividends, Loans and Advances | Restrictions On Dividends, Loans and Advances Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by the Bank to the Company. The total amount of dividends which may be paid at any date is generally limited to the lesser of the Bank’s retained earnings or the three preceding years’ undistributed net income of the Bank. Loans or advances are limited to 10% of the Bank’s capital stock and surplus on a secured basis. Capital stock and surplus is defined as tier 1 and tier 2 capital under the risk-based capital guidelines. In addition, dividends paid by the Bank to the Company would be prohibited if the effect thereof would cause the Bank’s capital to be reduced below applicable minimum capital requirements. At December 31, 2018 , the Bank’s retained earnings available for the payment of dividends to the Company was $11.8 million . Accordingly, $72.4 million of the Company’s equity in the net assets of the Bank was restricted at December 31, 2018 . Funds available for loans or advances by the Bank to the Company amounted to $9.1 million at December 31, 2018 . |
Dividend Investment Plan
Dividend Investment Plan | 12 Months Ended |
Dec. 31, 2018 | |
Dividend Investment Plan [Abstract] | |
Dividend Investment Plan | Dividend Investment Plan The Company has a Dividend Investment Plan, which allows participants’ dividends to purchase additional shares of common stock at its fair market value on each dividend record date. During 2016, the Company amended the Plan to provide that shares of common stock purchased through the Plan would be purchased at a price equal to the market price of the shares. Prior to this date, the Plan allowed participants' dividends to purchase additional shares of common stock at 95% of its fair market value. Our board of directors determined to eliminate the discount for purchases of shares in order to reflect current best practices and market standards for dividend reinvestment plans generally and among our peers. No other changes have been made to the operation of the dividend reinvestment features of the Plan, and current participants will remain enrolled in the Plan under their current methods of participation unless they choose to alter their enrollment following the procedures described in this prospectus. |
Financial Instruments with Off-
Financial Instruments with Off-Balance-Sheet Risk | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments with Off-Balance-Sheet Risk | Financial Instruments with Off-Balance-Sheet Risk The Company, through its subsidiary bank, is a party to credit related financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, unfunded commitments under lines of credit, and commercial and standby letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss is represented by the contractual amount of these instruments. The Company uses the same credit policies in making commitments as it does for on-balance-sheet instruments. At December 31, 2018 and 2017 , the following financial instruments were outstanding whose contract amounts represent credit risk: 2018 2017 (dollar in thousands) Commitments to extend credit $ 21,616 $ 3,959 Unfunded commitments under lines of credit 105,902 108,483 Commercial and standby letters of credit 6,380 8,437 Commitments to extend credit are agreements to lend to a customer as long as the terms offered are acceptable and certain other conditions are met. Commitments generally have fixed expiration dates or other termination clauses. Since these commitments may expire or terminate, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, with regards to these commitments, is based on management’s credit evaluation of the customer. Unfunded commitments under lines of credit are contracts for possible future extensions of credit to existing customers. Unfunded commitments under lines of credit include, but are not limited to, home equity lines of credit, overdraft protection lines of credit, credit cards, and unsecured and secured commercial lines of credit. The terms and conditions of these commitments vary depending on the line of credit’s purpose, collateral, and maturity. The amount disclosed above represents total unused lines of credit for which a contract with the Bank has been established. Commercial and standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. These letters of credit are primarily issued to support public and private borrowing arrangements. Essentially all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in granting loans to customers. The Bank holds collateral supporting these commitments if it is deemed necessary. At December 31, 2018 , $5.5 million of the outstanding letters of credit were collateralized. The Bank has cash accounts in other commercial banks. The amount on deposit in these banks at December 31, 2018 exceeded the insurance limits of the Federal Deposit Insurance Corporation by $1.6 million . |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition On January 1, 2018, the Company adopted ASU No. 2014-09, “Revenue from Contracts with Customers: Topic 606”, and all subsequent amendments to the ASU No. 2014-09. Using Topic 606 guidelines, the Company concluded that Topic 606 applies to noninterest income excluding certain out-of-scope revenue streams (e.g. gains on securities transactions, bank owned life insurance income, etc.). Income from Fiduciary Activities Trust asset management fee income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. Optional services such as real estate sales and tax return preparation services are also available to existing trust and asset management customers. The Company’s performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered. Service Charges on Deposit Accounts Service charges on deposit accounts are principally comprised of overdrawn account fees and account maintenance charges. The Company’s performance obligations on revenue generated from deposit accounts are generally satisfied immediately, when the transaction occurs, or by month-end. Typically, the duration of a contract does not extend beyond the services performed. Due to the short duration of most customer contracts which generate these sources of noninterest income, no significant judgments must be made in the determination of the amount and timing of revenue recognized. Other Service Charges and Fees The majority of the Company’s noninterest income is derived from short term contracts associated with services provided for other ancillary services such as ATM fees, brokerage commissions and wire transfer fees. The Company’s performance obligations on revenue generated from these ancillary services are generally satisfied immediately, when the transaction occurs, or by month-end. Typically, the duration of a contract does not extend beyond the services performed. Due to the short duration of most customer contracts which generate these sources of noninterest income, no significant judgments must be made in the determination of the amount and timing of revenue recognized. The Company earns interchange fees from credit cardholder transactions conducted through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized no less than monthly. Noninterest income disaggregated by major source, for the years ended December 31, 2018 , 2017 and 2016 , consisted of the following: December 31, 2018 2017 2016 (dollar in thousands) Noninterest income: Income from fiduciary activities(1): Trust asset management fees $ 1,360 $ 1,238 $ 1,356 Service charges on deposit accounts(1): Overdrawn account fees 995 999 1,003 Monthly and other service charges 223 224 224 Other service charges and fees: Interchange fees (1) 361 331 296 ATM fees (1) 2,240 2,046 2,056 Brokerage commissions (1) 831 865 744 Other charges and fees (2) 741 636 617 (Loss) on the sale and disposal of bank premises and equipment (1) (3 ) (12 ) (10 ) Gain (loss) on sale of securities 17 (10 ) 98 Other operating income (3) 114 463 285 Total noninterest income $ 6,879 $ 6,780 $ 6,669 (1) Income within the scope of Topic 606. (2) Includes income within the scope of Topic 606 of $671 thousand , $583 thousand , and $565 thousand for the years ended December 31, 2018 , 2017 , and 2016 , respectively. The remaining balance is outside the scope of Topic 606. (3) Includes income within the scope of Topic 606 of $153 thousand , $190 thousand , and $159 thousand for the years ended December 31, 2018 2017 , and 2016 , respectively. The remaining balance is outside the scope of Topic 606. Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of December 31, 2018 and December 31, 2017 , the Company did not have any significant contract balances. |
Quarterly Condensed Statements
Quarterly Condensed Statements of Income | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Condensed Statements of Income | Quarterly Condensed Statements of Income - Unaudited The Company’s quarterly net income, net income per common share and dividends per common share during 2018 , 2017 and 2016 are summarized as follows: 2018 Quarter Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) Total interest and dividend income $ 7,475 $ 7,994 $ 8,131 $ 8,323 Net interest income after provision for loan losses 6,844 7,518 7,286 6,983 Noninterest income 1,801 1,665 1,804 1,609 Noninterest expenses 5,630 6,166 7,310 6,089 Income before income taxes 3,015 3,017 1,780 2,503 Net income 2,539 2,521 1,860 2,081 Net income per common share, basic 0.73 0.73 0.54 0.60 Net income per common share, diluted 0.73 0.73 0.54 0.60 Dividends per common share 0.23 0.23 0.24 0.24 2017 Quarter Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) Total interest and dividend income $ 6,566 $ 7,004 $ 7,458 $ 7,323 Net interest income after (recovery of) loan losses 6,890 6,985 7,109 6,838 Noninterest income 1,673 1,598 1,617 1,892 Noninterest expenses 5,711 5,747 5,909 5,823 Income before income taxes 2,852 2,836 2,817 2,907 Net income 2,042 2,027 2,007 1,710 Net income per common share, basic 0.59 0.58 0.58 0.49 Net income per common share, diluted 0.59 0.58 0.58 0.49 Dividends per common share 0.22 0.22 0.22 0.22 2016 Quarter Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) Total interest and dividend income $ 6,421 $ 6,642 $ 6,279 $ 6,443 Net interest income after (recovery of) loan losses 6,035 6,345 6,162 6,364 Noninterest income 1,635 1,738 1,687 1,609 Noninterest expenses 5,554 5,832 5,871 5,395 Income before income taxes 2,116 2,251 1,978 2,578 Net income 1,525 1,610 1,430 1,805 Net income per common share, basic 0.43 0.46 0.40 0.52 Net income per common share, diluted 0.43 0.46 0.40 0.52 Dividends per common share 0.20 0.20 0.20 0.22 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements GAAP requires the Company to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of certain assets and liabilities is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants as of the measurement date. “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurement and enhances disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The following sections provide a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy: Securities Available for Sale: Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. The following table presents balances of financial assets and liabilities measured at fair value on a recurring basis at December 31, 2018 and December 31, 2017 : Fair Value Measurements at December 31, 2018 Using Balance as of Quoted Prices Significant Significant December 31, 2018 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 21,731 $ — $ 21,731 $ — Mortgage-backed securities 76,483 — 76,483 — Obligations of states and political subdivisions 46,084 — 46,084 — Total assets at fair value $ 144,298 $ — $ 144,298 $ — Liabilities: Total liabilities at fair value $ — $ — $ — $ — Fair Value Measurements at December 31, 2017 Using Balance as of Quoted Prices Significant Significant December 31, 2017 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 21,520 $ — $ 21,520 $ — Mortgage-backed securities 61,244 — 61,244 — Obligations of states and political subdivisions 49,802 — 49,259 543 Total assets at fair value $ 132,566 $ — $ 132,023 $ 543 Liabilities: Total liabilities at fair value $ — $ — $ — $ — The table below presents a reconciliation for all assets measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2018 and 2017 . Level 3 Recurring Fair Value Measurements As of and for the Year Ended December 31, 2018 December 31, 2017 (in thousands) Beginning balance $ 543 $ 614 Purchases — — Sales — — Issuances — — Settlements (543 ) (71 ) Total assets at fair value $ — $ 543 Certain financial assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower of cost or market accounting or write downs of individual assets. The following describes the valuation techniques used by the Company to measure certain financial and nonfinancial assets recorded at fair value on a nonrecurring basis in the financial statements: Impaired Loans: Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected when due. The measurement of loss associated with impaired loans can be based on the present value of its expected future cash flows discounted at the loan's coupon rate, or at the loans' observable market price or the fair value of the collateral securing the loans, if they are collateral dependent. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the collateral is real estate. The value of real estate collateral is determined utilizing a market valuation approach based on an appraisal conducted by an independent, licensed appraiser using observable market data within the last twelve months (Level 2). However, if the collateral is a house or building in the process of construction or if an appraisal of the property is more than one year old and not solely based on observable market comparables or management determines the fair value of the collateral is further impaired below the appraised value, then a Level 3 valuation is considered to measure the fair value. The value of business equipment is based upon an outside appraisal, of one year or less, if deemed significant, or the net book value on the applicable business’s financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivables collateral are based on financial statement balances or aging reports (Level 3). Impaired loans allocated to the allowance for loan losses are measured at fair value on a nonrecurring basis. Any fair value adjustments are recorded in the period incurred as provision for loan losses on the Consolidated Statements of Income. Other Real Estate Owned: Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair value of the property, less estimated selling costs, establishing a new costs basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. The portion of interest costs relating to development of real estate is capitalized. Valuations are periodically obtained by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. The fair value measurement of real estate held in other real estate owned is assessed in the same manner as impaired loans described above. We believe that the fair value component in its valuation follows the provisions of GAAP. The following table displays quantitative information about Level 3 Fair Value Measurements for certain financial assets measured at fair value on a nonrecurring basis for December 31, 2018 and December 31, 2017 : Quantitative information about Level 3 Fair Value Measurements for December 31, 2018 Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Impaired loans Discounted appraised value Selling cost 0% - 12% 8% Impaired loans Present value of cash flows Discount rate 4% - 6% 5% Other real estate owned Discounted appraised value Discount for current market conditions and selling costs 6% 6% Quantitative information about Level 3 Fair Value Measurements for December 31, 2017 Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Impaired loans Discounted appraised value Selling cost 6% - 12% 7% Impaired loans Present value of cash flows Discount rate 4% - 10% 5% Other real estate owned Discounted appraised value Discount for current market conditions and selling costs 6% 6% The following table summarizes the Company’s financial and nonfinancial assets that were measured at fair value on a nonrecurring basis at December 31, 2018 and December 31, 2017 : Carrying value at December 31, 2018 Balance as of Identical Assets Observable Inputs Unobservable Inputs December 31, 2018 (Level 1) (Level 2) (Level 3) (in thousands) Financial Assets: Impaired loans $ 3,598 $ — $ — $ 3,598 Nonfinancial Assets: Other real estate owned 106 — — 106 Carrying value at December 31, 2017 Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2017 (Level 1) (Level 2) (Level 3) (in thousands) Financial Assets: Impaired loans $ 2,248 $ — $ — $ 2,248 Nonfinancial Assets: Other real estate owned 106 — — 106 With the adoption of ASU 2016-01, the Company is no longer required to disclose the methods and significant assumptions used in estimating the fair value of financial instruments measured at amortized cost on the balance sheet. The amendments in the ASU also require the Company to measure the fair value of financial instruments using the exit price notion consistent with ASC Topic 820, Fair Value Measurement. Prior to adoption on January 1, 2018, fair value was calculated using an entry price notion. For this reason, December 31, 2018 and 2017 are not considered to be comparable. The carrying amount and fair value of the Company’s financial instruments at December 31, 2018 and 2017 were as follows: Fair Value Measurements at December 31, 2018 Using Carrying Value as of Quoted Prices Significant Significant Fair Value as of December 31, 2018 (Level 1) (Level 2) (Level 3) December 31, 2018 (in thousands) Financial Assets: Cash and short-term investments $ 18,353 $ 18,353 $ — $ — $ 18,353 Securities 144,298 — 144,298 — 144,298 Restricted Investments 1,170 — 1,170 — 1,170 Loans, net 601,371 — — 592,566 592,566 Bank owned life insurance 447 — 447 — 447 Accrued interest receivable 2,222 — 2,222 — 2,222 Financial Liabilities: Deposits $ 703,104 $ — $ 703,323 $ — $ 703,323 Federal funds purchased 1,871 — 1,871 — 1,871 Accrued interest payable 101 — 101 — 101 Fair Value Measurements at December 31, 2017 Using Carrying Value Quoted Prices Significant Significant Fair Value as of December 31, 2017 (Level 1) (Level 2) (Level 3) December 31, 2017 (in thousands) Financial assets: Cash and short-term investments $ 35,848 $ 35,848 $ — $ — $ 35,848 Securities 132,566 — 132,023 543 132,566 Restricted Investments 1,107 — 1,107 — 1,107 Loans, net 564,406 — — 559,665 559,665 Bank owned life insurance 1,955 — 1,955 — 1,955 Accrued interest receivable 486 — 486 — 486 Financial liabilities: Deposits $ 663,414 $ — $ 662,696 $ — $ 662,696 Accrued interest payable 44 — 44 — 44 The Company assumes interest rate risk (the risk that general interest rate levels will change) during its normal operations. As a result, the fair value of the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities in order to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay their principal balance in a rising rate environment and more likely to do so in a falling rate environment. Conversely, depositors who are receiving fixed rate interest payments are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting the terms of new loans and deposits and by investing in securities with terms that mitigate the Company’s overall interest rate risk. |
Change in Accumulated Other Com
Change in Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Change in Accumulated Other Comprehensive Income | Change in Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) includes unrealized gains and losses on available for sale securities and changes in benefit obligations and plan assets for the post retirement benefit plan. Changes to accumulated other comprehensive income (loss) are presented net of tax effect as a component of equity. Reclassifications out of accumulated other comprehensive income (loss) are recorded in the Consolidated Statements of Income either as a gain or loss. Changes to accumulated other comprehensive income (loss) by components are shown in the following tables for the years ended December 31, 2018 , 2017 , and 2016 : Twelve Months Ended December 31, 2018 2017 2016 Unrealized Gains and Losses on Available for Sale Securities Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan Total Unrealized Gains and Losses on Available for Sale Securities Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan Total Unrealized Gains and Losses on Available for Sale Securities Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan Total (dollars in thousands) January 1 $ 266 $ 44 $ 310 $ (63 ) $ 39 $ (24 ) $ 1,012 $ 39 $ 1,051 Other comprehensive (loss) income before reclassifications (2,341 ) — (2,341 ) 422 4 426 (1,531 ) — (1,531 ) Reclassifications from other comprehensive (loss) income (17 ) — (17 ) 10 (7 ) 3 (98 ) — (98 ) Reclassification of stranded tax effects from change in tax rate — — — 44 7 51 — — — Tax effect of current period changes 495 — 495 (147 ) 1 (146 ) 554 — 554 Current period changes net of taxes (1,863 ) — (1,863 ) 329 5 334 (1,075 ) — (1,075 ) December 31 $ (1,597 ) $ 44 $ (1,553 ) $ 266 $ 44 $ 310 $ (63 ) $ 39 $ (24 ) For the years ended December 31, 2018 , 2017 , and 2016 , $17 thousand , $(10) thousand , and $98 thousand , respectively, was reclassified out of comprehensive income and appeared as Gain (loss) on sale of securities in the Consolidated Statement of Income. The tax expense (benefit) related to these reclassifications was $4 thousand , $(4) thousand , and $33 thousand for the years ended December 31, 2018 , 2017 , and 2016 , respectively. The tax is included in Income Tax Expense in the Consolidated Statements of Income. For the twelve months ended December 31, 2017 , $7 thousand was reclassified out of accumulated other comprehensive income related to the Company's postretirement benefit plan. This reclassification is a component of net periodic benefit cost and was reflected in Salaries and employee benefits in the Consolidated Statements of Income. Tax related to this reclassification was $2 thousand and was included in Income Tax Expense in the Consolidated Statements of Income. |
Condensed Financial Information
Condensed Financial Information - Parent Company Only | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information - Parent Company Only | Condensed Financial Information – Parent Company Only EAGLE FINANCIAL SERVICES , INC. (Parent Company Only) Balance Sheets December 31, 2018 and 2017 (dollars in thousands) 2018 2017 Assets Cash held in subsidiary bank $ 402 $ 426 Loans, net of allowance 2,896 2,825 Investment in subsidiaries, at cost, plus undistributed net income 84,210 80,459 Other assets 91 107 Total assets $ 87,599 $ 83,817 Liabilities and Shareholders’ Equity Total liabilities $ — $ — Shareholders’ Equity Preferred stock $ — $ — Common stock 8,573 8,587 Surplus 11,992 12,075 Retained earnings 68,587 62,845 Accumulated other comprehensive (loss) income (1,553 ) 310 Total shareholders’ equity $ 87,599 $ 83,817 Total liabilities and shareholders’ equity $ 87,599 $ 83,817 EAGLE FINANCIAL SERVICES , INC. (Parent Company Only) Statements of Income Years Ended December 31, 2018 , 2017 , and 2016 (dollars in thousands) 2018 2017 2016 Income Dividends from subsidiary bank $ 3,500 $ 3,800 $ 4,350 Interest and fees on loans 115 106 97 Other interest and dividends — — 2 Other income — — 149 Total income $ 3,615 $ 3,906 $ 4,598 Expenses Interest expense on borrowings $ — $ — $ 143 Other operating expenses 272 255 211 Total expenses $ 272 $ 255 $ 354 Income before income tax (benefit) and equity in undistributed earnings of subsidiary bank $ 3,343 $ 3,651 $ 4,244 Income Tax (Benefit) (45 ) (58 ) (36 ) Income before equity in undistributed earnings of subsidiary bank $ 3,388 $ 3,709 $ 4,280 Equity in Undistributed Net Income of Subsidiary Bank 5,613 4,077 2,090 Net income $ 9,001 $ 7,786 $ 6,370 Comprehensive income $ 7,138 $ 8,069 $ 5,295 EAGLE FINANCIAL SERVICES , INC. (Parent Company Only) Statements of Cash Flows Years Ended December 31, 2018 , 2017 , and 2016 (dollars in thousands) 2018 2017 2016 Cash Flows from Operating Activities Net Income $ 9,001 $ 7,786 $ 6,370 Adjustments to reconcile net income to net cash provided by operating activities Provision for (Recovery of) loan losses 2 (2 ) (2 ) Fair value adjustment on derivative contract — — (149 ) Stock-based compensation expense 518 382 314 Undistributed earnings of subsidiary bank (5,613 ) (4,077 ) (2,090 ) Changes in assets and liabilities: Decrease (increase) in other assets 15 (62 ) (39 ) (Decrease) in other liabilities — — (568 ) Net cash provided by operating activities $ 3,923 $ 4,027 $ 3,836 Cash Flows from Investing Activities Net (increase) decrease in loans $ (73 ) $ 58 $ 62 Net cash (used in) provided by investing activities $ (73 ) $ 58 $ 62 Cash Flows from Financing Activities Cash dividends paid $ (2,776 ) $ (2,652 ) $ (2,354 ) Issuance of common stock, employee benefit plan 163 166 81 Retirement of common stock (1,261 ) (1,564 ) (2,143 ) Net cash (used in) financing activities $ (3,874 ) $ (4,050 ) $ (4,416 ) (Decrease) increase in cash $ (24 ) $ 35 $ (518 ) Cash Beginning $ 426 $ 391 $ 909 Ending $ 402 $ 426 $ 391 |
Other Real Estate Owned (Notes)
Other Real Estate Owned (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Real Estate Owned [Text Block] | NOTE 24. Other Real Estate Owned The following table is a summary of other real estate owned (OREO) activity for the twelve months ended December 31, 2018 and 2017 : Year Ended Year Ended December 31, December 31, 2018 2017 Balance, beginning $ 106 $ 370 Net loans transferred to OREO 2,799 53 Sales (2,799 ) (317 ) Valuation adjustments — — Balance, ending $ 106 $ 106 The major classifications of other real estate owned in the consolidated balance sheets at December 31, 2018 and 2017 were as follows: As of December 31, 2018 December 31, 2017 (in thousands) Construction and Farmland $ 106 $ 106 Residential Real Estate — — Commercial Real Estate — — Subtotal $ 106 $ 106 Less valuation allowance — — Total $ 106 $ 106 There was one consumer mortgage loan totaling $71 thousand collateralized by residential real estate in the process of foreclosure at December 31, 2018 . There was one consumer mortgage loan totaling $4.1 million collateralized by residential real estate in the process of foreclosure at December 31, 2017 . |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | NOTE 25. Qualified Affordable Housing Project Investments The Company invests in qualified affordable housing projects. The general purpose of these investments is to encourage and assist participants in investing in low-income residential rental properties located in the Commonwealth of Virginia, develop and implement strategies to maintain projects as low-income housing, provide tax credits and other tax benefits to investors, and to preserve and protect project assets. At December 31, 2018 and 2017 , the balance of the investment for qualified affordable housing projects was $3.3 million and $2.5 million , respectively. These balances are reflected in Other assets on the Consolidated Balance Sheets. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $1.9 million at December 31, 2018 and 2017 . These balances are reflected in Other liabilities on the Consolidated Balance Sheets. The Company expects to fulfill these commitments by December 31, 2023, in accordance with the terms of the individual agreements. During the twelve months ended December 31, 2018 and 2017 , the Company recognized amortization expense of $196 thousand and $172 thousand , respectively. The amortization expense was included in Other operating expenses on the Consolidated Statements of Income. Total estimated credits to be received during 2018 are $289 thousand based on the most recent quarterly estimates received from the funds. Total tax credits and other tax benefits recognized during 2018 and 2017 were $324 thousand and $219 thousand , respectively. |
Nature of Banking Activities _2
Nature of Banking Activities and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Principles of Consolidation | Principles of Consolidation The Company owns 100% of Bank of Clarke County (the “Bank”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions between the Company and the Bank have been eliminated. |
Trust Assets | Trust Assets Eagle Investment Group (“EIG”), as a division of the Bank offers both a trust department and investment services. The trust services division of EIG offers a full range of personal and retirement plan services, which include serving as agent for bill paying and custody of assets, as investment manager with full authority or advisor, as trustee or co-trustee for trusts under will or under agreement, as trustee of life insurance trusts, as guardian or committee, as agent under a power of attorney, as executor or co-executor for estates, as custodian or investment advisor for individual retirement plans, and as trustee or trust advisor for corporate retirement plans such as profit sharing and 401(k) plans. The brokerage division of EIG offers a full range of investment services, which include tax-deferred annuities, IRAs and rollovers, mutual funds, retirement plans, 529 college savings plans, life insurance, long term care insurance, fixed income investing, brokerage CDs, and full service or discount brokerage services. Securities and other property held by the Eagle Investment Group in a fiduciary or agency capacity are not assets of the Company and are not included in the accompanying consolidated financial statements. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold, and interest bearing deposits. Generally, federal funds are purchased and sold for one-day periods. |
Securities | Securities Debt securities that management has the positive intent and ability to hold to maturity are classified as “held to maturity” and recorded at amortized cost. Debt securities not classified as held to maturity are classified as “available for sale” and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. Equity securities are carried at fair value, with changes in fair value reported in income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Declines in the fair value of held to maturity and available for sale securities below their cost that are deemed to be “other than temporary” are reflected in earnings as realized losses. In estimating “other than temporary” impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery of fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. The Bank is required to maintain an investment in the capital stock of certain correspondent banks. No readily available market exists for this stock and it has no quoted market value. The investment in these securities is recorded at cost and they are reported on the Company’s consolidated balance sheet as restricted investments. |
Loans | Loans The Company grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans throughout the Counties of Clarke, Frederick, and Loudoun, Virginia and the City of Winchester, Virginia. The ability of the Company’s debtors to honor their contracts is dependent upon the real estate and general economic conditions in this area. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for the allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan fees collected and certain costs incurred related to loan originations are deferred and amortized as an adjustment to interest income over the life of the related loans. Deferred fees and costs are recorded as an adjustment to interest income using a method that approximates a constant yield. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 120 and 90 days delinquent, respectively, unless the credit is well-secured and in process of collection. Credit card loans and other personal loans are typically charged off no later than 180 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Troubled Debt Restructurings (TDR) | Troubled Debt Restructurings (TDR) In situations where, for economic or legal reasons related to a borrower’s financial condition, management may grant a concession to the borrower that it would not otherwise consider, the related loan is classified as a TDR. TDRs are considered impaired loans. Upon designation as a TDR, the Company evaluates the borrower’s payment history, past due status and ability to make payments based on the revised terms of the loan. If a loan was accruing prior to being modified as a TDR and if the Company concludes that the borrower is able to make such payments, and there are no other factors or circumstances that would cause it to conclude otherwise, the loan will remain on an accruing status. If a loan was on non-accrual status at the time of the TDR, the loan will remain on non-accrual status following the modification and may be returned to accrual status based on the policy for returning loans to accrual status as noted above. |
Risks by Loan Portfolio Segments | Risks by Loan Portfolio Segments One-to-Four-Family Residential Real Estate Lending Residential mortgage loans generally are made on the basis of the borrower’s ability to make repayment from employment and other income and are secured by real estate whose value tends to be readily ascertainable. As part of the application process, information is gathered concerning income, employment and credit history of the applicant. The valuation of residential collateral is provided by independent fee appraisers who have been approved by the Bank’s Directors Loan Committee. Commercial Real Estate Lending Commercial real estate lending entails significant additional risk as compared with residential mortgage lending. Commercial real estate loans typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. Additionally, the repayment of loans secured by income producing properties is typically dependent on the successful operation of a business or a real estate project and thus may be subject, to a greater extent, to adverse conditions in the real estate market or the economy, in general. Construction and Land Development Lending There are two characteristics of construction lending which impact its overall risk as compared to residential mortgage lending. First, there is more concentration risk due to the extension of a large loan balance through several lines of credit to a single developer or contractor. Second, there is more collateral risk due to the fact that loan funds are provided to the borrower based upon the estimated value of the collateral after completion. This could cause an inaccurate estimate of the amount needed to complete construction or an excessive loan-to-value ratio. To mitigate the risks associated with construction lending, the Bank generally limits loan amounts to 80% of the estimated appraised value of the finished home. Commercial and Industrial Lending Commercial business loans generally have more risk than residential mortgage loans, but have higher yields. To manage these risks, the Bank generally obtains appropriate collateral and personal guarantees from the borrower’s principal owners and monitors the financial condition of the borrower. Commercial business loans typically are made on the basis of the borrower’s ability to make repayment from cash flow from its business and are secured by business assets, such as commercial real estate, accounts receivable, equipment and inventory. As a result, the availability of funds for the repayment of commercial business loans is substantially dependent on the success of the business itself. Furthermore, the collateral for commercial business loans may depreciate over time and generally cannot be appraised with as much precision as residential real estate. Consumer Lending Consumer loans generally entail greater risk than residential mortgage loans, particularly in the case of consumer loans which are unsecured or secured by rapidly depreciable assets such as automobiles. In such cases, any repossessed collateral on a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance as a result of the greater likelihood of damage, loss or depreciation. |
Allowance For Loan Losses | Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for (recovery of) loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are impaired. An allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans and is based on historical loss experience and other qualitative factors. Other qualitative factors considered in the general component include the levels and trends in delinquencies and nonperforming loans, trends in volume and terms of loans, the effects of any changes in lending policies, the experience, ability, and depth of management, national and local economic trends and conditions, concentrations of credit, the quality of the Company’s loan review system, competition and regulatory requirements. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair market value less estimated liquidation costs of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are the subject of a restructuring agreement. |
Bank Premises and Equipment | Bank Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost, less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives range from 10 to 39 years for buildings and 3 to 10 years for furniture and equipment. |
Other Real Estate Owned | Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair value of the property, less estimated selling costs at the date of foreclosure. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less estimated cost to sell. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. The portion of interest costs relating to development of real estate is capitalized. Valuations are periodically performed by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the lower of its cost or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in the net expenses from foreclosed assets. |
Retirement Plans | Retirement Plans The Company sponsors a 401(k) savings plan under which eligible employees may defer a portion of their compensation on a pretax basis. The Company also provides a match to participants in this plan, as described more fully in Note 11. |
Stock-Based Compensation Plan | Stock-Based Compensation Plan During 2014, the Company’s shareholders approved a stock incentive plan which allows key employees and directors to increase their personal financial interest in the Company. This plan permits the issuance of incentive stock options and non-qualified stock options and the award of stock appreciation rights, common stock, restricted stock, and phantom stock. The plan, as adopted, authorized the issuance of up to 500,000 shares of common stock. This plan is discussed more fully in Note 10. |
Income Taxes | Income Taxes Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various assets and liabilities and gives current recognition to changes in tax rates and laws. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the applicable taxing authority, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, the Company believes it is “more likely than not” that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the “more likely than not” recognition threshold are measured as the largest amount of tax benefit that is more than fifty percent ( 50% ) likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the balance sheet along with any associated interest and penalties that would be payable to the applicable taxing authority upon examination. Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statement of income. The Company has no uncertain tax positions. |
Advertising | Advertising The Company follows the policy of charging the costs of advertising to expense as incurred. |
Reclassifications | Reclassifications Certain reclassifications have been made to the 2017 financial statements to conform to reporting for 2018 . The results of the reclassifications are not considered material and had no effect on prior years' net income or shareholders' equity. |
Earnings Per Common Share | Earnings Per Common Share Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Nonvested restricted shares are included in the weighted average number of common shares used to compute basic earnings per share because of dividend participation and voting rights. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. The number of potential common shares is determined using the treasury method |
Comprehensive Income | Comprehensive Income Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, net of income taxes, are reported within the balance sheet as a separate component of shareholders’ equity. These changes, along with net income, are components of comprehensive income and are reported in the statement of comprehensive income. In addition to net income, the Company’s comprehensive income includes changes in the benefit obligations and plan assets for postretirement benefit plans and unrealized gains or losses on available for sale securities. |
Derivative Financial Instruments | Derivative Financial Instruments The Company follows GAAP to account for derivative and hedging activities. Accordingly, a derivative is recognized in the balance sheet at its fair value. The fair value of a derivative is determined by quoted market prices and mathematical models using current and historical data. If certain hedging criteria are met, including testing for hedge effectiveness, special hedge accounting may be applied. The Company assesses each hedge, both at inception and on an ongoing basis, to determine whether the derivative used in a hedging transaction is effective in offsetting changes in the fair value or cash flows of the hedged item and whether the derivative is expected to remain effective during subsequent periods. The Company discontinues hedge accounting when (a) it determines that a derivative is no longer effective in offsetting changes in fair value or cash flows of a hedged item; (b) the derivative expires or is sold, terminated or exercised; (c) probability exists that the forecasted transaction will no longer occur or (d) management determines that designating the derivative as a hedging instrument is no longer appropriate. When hedge accounting is discontinued and a derivative remains outstanding, the Company recognizes the derivative in the balance sheet at its fair value and changes in the fair value are recognized in net income. At inception, the Company designates a derivative as (a) a fair value hedge of recognized assets or liabilities or of unrecognized firm commitments (fair-value hedge) or (b) a hedge of forecasted transactions or variable cash flows to be received or paid in conjunction with recognized assets or liabilities (cash-flow hedge). For a derivative treated as a fair-value hedge, a change in fair value is recorded as an adjustment to the hedged item and recognized in net income. For a derivative treated as a cash flow hedge, the effective portion of a change in fair value is recorded as an adjustment to the hedged item and recognized as a component of accumulated other comprehensive income (loss) within shareholders’ equity. For a derivative treated as a cash flow hedge, the ineffective portion of a change in fair value is recorded as an adjustment to the hedged item and recognized in net income. For more information on derivative financial instruments see Note 13 to the Consolidated Financial Statements. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, valuation of other real estate owned, and the evaluation for other-than-temporary impairment of investment securities. |
Stock Repurchase Program | Stock Repurchase Program On June 20, 2018 , the Corporation renewed the stock repurchase program to repurchase up to 150,000 shares of its common stock prior to June 30, 2019 . During 2018 , the Company purchased 39,333 shares of its Common Stock under its stock repurchase program at an average price of $32.06 . During 2017 , the Company purchased 52,936 shares of its Common Stock under its stock repurchase program at an average price of $29.54 . During 2016 , the Company purchased 89,607 shares of its Common Stock under its stock repurchase program at an average price of $23.92 . The maximum number of shares that may yet be purchased under the plan as of December 31, 2018 are 115,667 . |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards On January 1, 2018, the Company adopted ASU No. 2014-09, "Revenue from Contracts with Customers: Topic 606." This ASU revised guidance for the recognition, measurement, and disclosure of revenue from contracts with customers. The original guidance was amended through subsequent accounting standard updates that resulted in technical corrections, improvements, and a one year deferral of the effective date to January 1, 2018. The guidance, as amended, is applicable to all entities and replaces significant portions of existing industry and transaction-specific revenue recognition rules with a more principles-based recognition model. Most revenue associated with financial instruments, including interest income, loan origination fees, and credit card fees, is outside the scope of the guidance. Gains and losses on investment securities, derivatives, financial guarantees, and sales of financial instruments are similarly excluded from the scope. The guidance is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, and merchant income. The Company adopted this guidance via the modified retrospective approach, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. Since the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the new guidance did not have a material impact on revenue most closely associated with financial instruments, including interest income and expense. The Company completed its overall assessment of revenue streams and review of related contracts potentially affected by the ASU, including trust and asset management fees, deposit related fees, interchange fees, and merchant income. The Company also completed an evaluation of certain costs related to these revenue streams to determine whether such costs should be presented gross versus net. Based on these assessments, the Company concluded that ASU 2014-09 did not materially change the method in which the Company currently recognizes revenue for these revenue streams. Since there was no net income impact upon adoption of the new guidance, a cumulative effect adjustment to opening retained earnings was not deemed necessary. Refer to Note 19 of the Consolidated Financial Statements for further discussion. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” Among other things, in the amendments in ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) A lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The FASB made subsequent amendments to Topic 842 in July 2018 through ASU 2018-10 (“Codification Improvements to Topic 842, Leases.”) and ASU 2018-11 (“Leases (Topic 842): Targeted Improvements.”) Among these amendments is the provision in ASU 2018-11 that provides entities with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity’s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with current GAAP (Topic 840, Leases). While the Company has evaluated this ASU and the effect of related disclosures, the Company expects that the primary effect of adoption will be to require recording a right-of-use asset and corresponding lease obligation for the current operating lease, which is estimated at approximately $3.8 million, as of the adoption of this standard. During June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The amendments in this ASU are effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is currently assessing the impact that ASU 2016-13 will have on its consolidated financial statements. The Company formed a CECL committee during 2016 which continues to meet monthly to address the compliance requirements. Historic loan data has been gathered and reviewed for completeness and accuracy. In addition, the committee has selected a third-party that will assist in calculating the financial impact of ASU 2016-13 and anticipates running parallel allowance models under the current and new standard by the second quarter of 2019. During March 2017, the FASB issued ASU 2017‐08, “Receivables-Nonrefundable Fees and Other Costs (Subtopic 310‐20), Premium Amortization on Purchased Callable Debt Securities.” The amendments in this ASU shorten the amortization period for certain callable debt securities purchased at a premium. Upon adoption of the standard, premiums on these qualifying callable debt securities will be amortized to the earliest call date. Discounts on purchased debt securities will continue to be accreted to maturity. The amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. Upon transition, entities should apply the guidance on a modified retrospective basis, with a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption and provide the disclosures required for a change in accounting principle. The Company is currently assessing the impact that ASU 2017‐08 will have on its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, “Compensation- Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting.” The amendments expand the scope of Topic 718 to include share-based payments issued to nonemployees for goods or services and supersedes Subtopic 505-50. As a result, the accounting for share-based payments to nonemployees and employees will be substantially aligned. The amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of ASU 2018-07 to have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” The amendments modify the disclosure requirements in Topic 820 to add disclosures regarding changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty. Certain disclosure requirements in Topic 820 are also removed or modified. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Certain of the amendments are to be applied prospectively while others are to be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, “Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans.” These amendments modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. Certain disclosure requirements have been deleted while the following disclosure requirements have been added: the weighted-average interest crediting rates for cash balance plans and other plans with promised interest crediting rates and an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The amendments also clarify the disclosure requirements in paragraph 715-20-50-3, which state that the following information for defined benefit pension plans should be disclosed: The projected benefit obligation (PBO) and fair value of plan assets for plans with PBOs in excess of plan assets and the accumulated benefit obligation (ABO) and fair value of plan assets for plans with ABOs in excess of plan assets. The amendments are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company does not expect the adoption of ASU 2018-14 to have a material impact on its consolidated financial statements. |
Nature of Banking Activities _3
Nature of Banking Activities and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructurings (TDR) In situations where, for economic or legal reasons related to a borrower’s financial condition, management may grant a concession to the borrower that it would not otherwise consider, the related loan is classified as a TDR. TDRs are considered impaired loans. Upon designation as a TDR, the Company evaluates the borrower’s payment history, past due status and ability to make payments based on the revised terms of the loan. If a loan was accruing prior to being modified as a TDR and if the Company concludes that the borrower is able to make such payments, and there are no other factors or circumstances that would cause it to conclude otherwise, the loan will remain on an accruing status. If a loan was on non-accrual status at the time of the TDR, the loan will remain on non-accrual status following the modification and may be returned to accrual status based on the policy for returning loans to accrual status as noted above. |
Weighted Average Number Of Shares Used In Computing Earnings Per Share | The following table shows the weighted average number of shares used in computing earnings per share and the effect on the weighted average number of shares of dilutive potential common stock. 2018 2017 2016 Weighted average number of common shares outstanding used to calculate basic earnings per share 3,467,667 3,468,275 3,518,848 Effect of dilutive common stock — — — Weighted average number of common shares outstanding used to calculate diluted earnings per share 3,467,667 3,468,275 3,518,848 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Available-for-sale Securities [Abstract] | |
Amortized Costs And Fair Values Of Securities Available For Sale | Amortized costs and fair values of securities available for sale at December 31, 2018 and 2017 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value December 31, 2018 (in thousands) Obligations of U.S. government corporations and agencies $ 22,183 $ 29 $ (481 ) $ 21,731 Mortgage-backed securities 77,976 145 (1,638 ) 76,483 Obligations of states and political subdivisions 46,159 394 (469 ) 46,084 $ 146,318 $ 568 $ (2,588 ) $ 144,298 December 31, 2017 (in thousands) Obligations of U.S. government corporations and agencies $ 21,565 $ 213 $ (258 ) $ 21,520 Mortgage-backed securities 61,464 126 (346 ) 61,244 Obligations of states and political subdivisions 49,199 789 (186 ) 49,802 $ 132,228 $ 1,128 $ (790 ) $ 132,566 |
Restricted Investments | Carrying amounts of restricted securities at December 31, 2018 and 2017 were as follows: December 31, 2018 December 31, 2017 (in thousands) Federal Reserve Bank Stock $ 344 $ 344 Federal Home Loan Bank Stock 686 623 Community Bankers’ Bank Stock 140 140 $ 1,170 $ 1,107 |
Investments Classified by Contractual Maturity Date | The amortized cost and fair value of securities available for sale at December 31, 2018 , by contractual maturity, are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without any penalties. Amortized Cost Fair Value (in thousands) Due in one year or less $ 1,356 $ 1,361 Due after one year through five years 12,011 12,043 Due after five years through ten years 49,511 48,933 Due after ten years 83,440 81,961 $ 146,318 $ 144,298 |
Fair Value And Gross Unrealized Losses For Securities Available For Sale | The fair value and gross unrealized losses for securities available for sale, totaled by the length of time that individual securities have been in a continuous gross unrealized loss position, at December 31, 2018 and 2017 were as follows: Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses December 31, 2018 (in thousands) Obligations of U.S. government corporations and agencies $ 1,973 $ 6 $ 13,710 $ 475 $ 15,683 $ 481 Mortgage-backed securities 16,659 332 42,966 1,306 59,625 1,638 Obligations of states and political subdivisions 3,594 52 12,864 417 16,458 469 $ 22,226 $ 390 $ 69,540 $ 2,198 $ 91,766 $ 2,588 December 31, 2017 (in thousands) Obligations of U.S. government corporations and agencies $ 4,455 $ 58 $ 7,810 $ 200 $ 12,265 $ 258 Mortgage-backed securities 11,885 59 17,931 287 29,816 346 Obligations of states and political subdivisions 4,071 27 4,692 159 8,763 186 $ 20,411 $ 144 $ 30,433 $ 646 $ 50,844 $ 790 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Schedule Of Composition Of Loans | The composition of loans at December 31, 2018 and 2017 was as follows: December 31, 2018 2017 (in thousands) Mortgage loans on real estate: Construction and land development $ 54,675 $ 43,786 Secured by farmland 7,251 8,568 Secured by 1-4 family residential properties 221,861 223,210 Multifamily 7,923 4,095 Commercial 265,595 239,915 Commercial and industrial loans 33,086 37,427 Consumer installment loans 8,470 10,187 All other loans 8,454 2,050 Total loans $ 607,315 $ 569,238 Net deferred loan fees (488 ) (421 ) Allowance for loan losses (5,456 ) (4,411 ) Net Loans $ 601,371 $ 564,406 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Changes In Allowance For Loan Losses | Changes in the allowance for loan losses for the years December 31, 2018 , 2017 and 2016 were as follows: December 31, 2018 2017 2016 (in thousands) Balance, beginning $ 4,411 $ 4,505 $ 4,959 Provision for (recovery of) loan losses 777 (625 ) (188 ) Recoveries added to the allowance 504 901 341 Loan losses charged to the allowance (236 ) (370 ) (607 ) Balance, ending $ 5,456 $ 4,411 $ 4,505 |
Nonaccrual And Past Due Loans By Class | Nonaccrual and past due loans by class at December 31, 2018 and December 31, 2017 were as follows: December 31, 2018 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Nonaccrual Commercial - Non Real Estate: Commercial & Industrial $ 127 $ — $ — $ 127 $ 32,959 $ 33,086 $ — $ 1,081 Commercial Real Estate: Owner Occupied — — — — 136,309 136,309 — — Non-owner occupied — — — — 129,286 129,286 — 364 Construction and Farmland: Residential — — — — 6,706 6,706 — — Commercial — — — — 55,220 55,220 — — Consumer: Installment 4 — — 4 8,466 8,470 — — Residential: Equity Lines — — — — 32,815 32,815 — 92 Single family 960 196 900 2,056 186,990 189,046 695 581 Multifamily — — — — 7,923 7,923 — — All Other Loans — — — — 8,454 8,454 — — Total $ 1,091 $ 196 $ 900 $ 2,187 $ 605,128 $ 607,315 $ 695 $ 2,118 December 31, 2017 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Nonaccrual Commercial - Non Real Estate: Commercial & Industrial $ 75 $ 10 $ 142 $ 227 $ 37,200 $ 37,427 $ — $ 594 Commercial Real Estate: Owner Occupied — — — — 127,018 127,018 — — Non-owner occupied — 368 — 368 112,529 112,897 — 767 Construction and Farmland: Residential — — — — 3,214 3,214 — — Commercial 187 — — 187 48,953 49,140 — — Consumer: Installment 17 — 2 19 10,168 10,187 — 13 Residential: Equity Lines 18 — — 18 32,820 32,838 — 44 Single family 829 572 4,060 5,461 184,911 190,372 — 4,921 Multifamily — — — — 4,095 4,095 — — All Other Loans — — — — 2,050 2,050 — — Total $ 1,126 $ 950 $ 4,204 $ 6,280 $ 562,958 $ 569,238 $ — $ 6,339 |
Allowance For Loan Losses By Segment | Allowance for loan losses by segment at December 31, 2018 , December 31, 2017 and December 31, 2016 were as follows: As of and for the Twelve Months Ended December 31, 2018 (in thousands) Construction Residential Commercial Commercial Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 332 $ 1,754 $ 1,627 $ 570 $ 69 $ 29 $ 30 $ 4,411 Charge-Offs — (24 ) — (139 ) (33 ) (40 ) — (236 ) Recoveries 266 28 78 100 19 13 — 504 Provision (recovery) (15 ) 30 283 388 (2 ) 95 (2 ) 777 Ending balance $ 583 $ 1,788 $ 1,988 $ 919 $ 53 $ 97 $ 28 $ 5,456 Ending balance: Individually evaluated for impairment $ — $ 119 $ 193 $ 650 $ — $ — $ — $ 962 Ending balance: collectively evaluated for impairment $ 583 $ 1,669 $ 1,795 $ 269 $ 53 $ 97 $ 28 $ 4,494 Loans: Ending balance $ 61,926 $ 229,784 $ 265,595 $ 33,086 $ 8,470 $ 8,454 $ — $ 607,315 Ending balance individually evaluated for impairment $ 280 $ 4,044 $ 2,919 $ 1,316 $ — $ — $ — $ 8,559 Ending balance collectively evaluated for impairment $ 61,646 $ 225,740 $ 262,676 $ 31,770 $ 8,470 $ 8,454 $ — $ 598,756 As of and for the Twelve Months Ended December 31, 2017 (in thousands) Construction Residential Commercial Commercial Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 450 $ 1,992 $ 1,522 $ 235 $ 69 $ 22 $ 215 $ 4,505 Charge-Offs (19 ) (55 ) (1 ) (187 ) (59 ) (49 ) — (370 ) Recoveries 535 212 65 44 40 5 — 901 Provision (recovery) (634 ) (395 ) 41 478 19 51 (185 ) (625 ) Ending balance $ 332 $ 1,754 $ 1,627 $ 570 $ 69 $ 29 $ 30 $ 4,411 Ending balance: Individually evaluated for impairment $ — $ 195 $ 59 $ 195 $ 9 $ — $ — $ 458 Ending balance: collectively evaluated for impairment $ 332 $ 1,559 $ 1,568 $ 375 $ 60 $ 29 $ 30 $ 3,953 Loans: Ending balance $ 52,354 $ 227,305 $ 239,915 $ 37,427 $ 10,187 $ 2,050 $ — $ 569,238 Ending balance individually evaluated for impairment $ 315 $ 8,315 $ 1,904 $ 858 $ 34 $ — $ — $ 11,426 Ending balance collectively evaluated for impairment $ 52,039 $ 218,990 $ 238,011 $ 36,569 $ 10,153 $ 2,050 $ — $ 557,812 As of and for the Twelve Months Ended December 31, 2016 (in thousands) Construction Residential Commercial Commercial Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 775 $ 2,322 $ 1,268 $ 211 $ 109 $ 53 $ 221 $ 4,959 Charge-Offs — (535 ) — — (30 ) (42 ) — (607 ) Recoveries 144 124 8 11 49 5 — 341 Provision (recovery) (469 ) 81 246 13 (59 ) 6 (6 ) (188 ) Ending balance $ 450 $ 1,992 $ 1,522 $ 235 $ 69 $ 22 $ 215 $ 4,505 Ending balance: Individually evaluated for impairment $ — $ 268 $ 102 $ 15 $ — $ — $ — $ 385 Ending balance: collectively evaluated for impairment $ 450 $ 1,724 $ 1,420 $ 220 $ 69 $ 22 $ 215 $ 4,120 Loans: Ending balance $ 31,791 $ 231,532 $ 208,525 $ 30,341 $ 12,677 $ 2,259 $ — $ 517,125 Ending balance individually evaluated for impairment $ 1,320 $ 8,608 $ 2,864 $ 581 $ 7 $ — $ — $ 13,380 Ending balance collectively evaluated for impairment $ 30,471 $ 222,924 $ 205,661 $ 29,760 $ 12,670 $ 2,259 $ — $ 503,745 |
Schedule of Change in Allowance Methodology | The following table represents the effect on the loan loss provision for the twelve months ended December 31, 2018 as a result of the change in allowance methodology from that used in prior periods. (in thousands) Calculated Provision Based on Current Methodology Calculated Provision Based on Prior Methodology Difference Portfolio Segment: Construction and Farmland $ (15 ) $ (197 ) $ 182 Residential Real Estate 30 (161 ) 191 Commercial Real Estate 283 140 143 Commercial 388 326 62 Consumer (2 ) (7 ) 5 All Other Loans 95 102 (7 ) Total, excluding unallocated $ 779 $ 203 $ 576 |
Impaired Loans By Class | Impaired loans by class at December 31, 2018 and December 31, 2017 were as follows: As of and for the Year Ended December 31, 2018 (in thousands) Unpaid Recorded Related Average Interest With no related allowance: Commercial - Non Real Estate: Commercial & Industrial $ 564 $ 356 $ — $ 422 $ 25 Commercial Real Estate: Owner Occupied — — — — — Non-owner occupied 558 501 — 511 4 Construction and Farmland: Residential — — — — — Commercial 332 281 — 297 27 Consumer: Installment — — — — — Residential: Equity lines 468 92 — 93 — Single family 2,616 2,499 — 2,565 101 Multifamily 284 286 — 289 14 Other Loans — — — — — $ 4,822 $ 4,015 $ — $ 4,177 $ 171 With an allowance recorded: Commercial - Non Real Estate: Commercial & Industrial $ 971 $ 960 $ 650 $ 1,063 $ 60 Commercial Real Estate: Owner Occupied — — — — — Non-owner occupied 2,418 2,425 193 2,454 101 Construction and Farmland: Residential — — — — — Commercial — — — — — Consumer: Installment — — — — — Residential: Equity lines — — — — — Single family 1,242 1,190 119 1,204 51 Multifamily — — — — — Other Loans — — — — — $ 4,631 $ 4,575 $ 962 $ 4,721 $ 212 Total: Commercial $ 1,535 $ 1,316 $ 650 $ 1,485 $ 85 Commercial Real Estate 2,976 2,926 193 2,965 105 Construction and Farmland 332 281 — 297 27 Consumer — — — — — Residential 4,610 4,067 119 4,151 166 Other — — — — — Total $ 9,453 $ 8,590 $ 962 $ 8,898 $ 383 (1) Recorded investment is defined as the summation of the outstanding principal balance, accrued interest, and any partial charge-offs. As of and for the Year Ended December 31, 2017 (in thousands) Unpaid Recorded Related Average Interest With no related allowance: Commercial - Non Real Estate: Commercial & Industrial $ 626 $ 304 $ — $ 342 $ 23 Commercial Real Estate: Owner Occupied 330 331 — 336 15 Non-owner occupied 805 767 — 785 20 Construction and Farmland: Residential — — — — — Commercial 362 316 — 330 28 Consumer: Installment 25 25 — 27 1 Residential: Equity lines — — — — — Single family 7,371 6,985 — 7,069 124 Multifamily — — — — — Other Loans — — — — — $ 9,519 $ 8,728 $ — $ 8,889 $ 211 With an allowance recorded: Commercial - Non Real Estate: Commercial & Industrial $ 595 $ 556 $ 195 $ 567 $ 17 Commercial Real Estate: Owner Occupied — — — — — Non-owner occupied 806 809 59 817 37 Construction and Farmland: Residential — — — — — Commercial — — — — — Consumer: Installment 9 9 9 9 — Residential: Equity lines 217 44 44 45 — Single family 1,349 1,299 151 1,315 57 Multifamily — — — — — Other Loans — — — — — $ 2,976 $ 2,717 $ 458 $ 2,753 $ 111 Total: Commercial $ 1,221 $ 860 $ 195 $ 909 $ 40 Commercial Real Estate 1,941 1,907 59 1,938 72 Construction and Farmland 362 316 — 330 28 Consumer 34 34 9 36 1 Residential 8,937 8,328 195 8,429 181 Other — — — — — Total $ 12,495 $ 11,445 $ 458 $ 11,642 $ 322 |
Credit Quality Information By Class | Credit quality information by class at December 31, 2018 and December 31, 2017 was as follows: As of December 31, 2018 (in thousands) INTERNAL RISK RATING GRADES Pass Pass Monitored Special Substandard Doubtful Loss Total Commercial - Non Real Estate: Commercial & Industrial $ 28,699 $ 2,292 $ 995 $ 1,100 $ — $ — $ 33,086 Commercial Real Estate: Owner Occupied 110,418 16,665 9,187 39 — — 136,309 Non-owner occupied 106,658 17,139 3,397 2,092 — — 129,286 Construction and Farmland: Residential 2,295 1,120 3,291 — — — 6,706 Commercial 16,682 22,533 15,658 347 — — 55,220 Residential: Equity Lines 31,813 910 — 16 76 — 32,815 Single family 172,360 11,567 2,704 2,270 145 — 189,046 Multifamily 7,160 479 — 284 — — 7,923 All other loans 8,435 19 — — — — 8,454 Total $ 484,520 $ 72,724 $ 35,232 $ 6,148 $ 221 $ — $ 598,845 Performing Nonperforming Consumer Credit Exposure by Payment Activity $ 8,466 $ 4 As of December 31, 2017 (in thousands) INTERNAL RISK RATING GRADES Pass Pass Monitored Special Substandard Doubtful Loss Total Commercial - Non Real Estate: Commercial & Industrial $ 33,279 $ 1,788 $ 1,748 $ 612 $ — $ — $ 37,427 Commercial Real Estate: Owner Occupied 112,649 10,893 3,146 330 — — 127,018 Non-owner occupied 82,050 17,992 12,088 767 — — 112,897 Construction and Farmland: Residential 2,614 600 — — — — 3,214 Commercial 30,093 17,069 1,663 315 — — 49,140 Residential: Equity Lines 32,495 299 — — 44 — 32,838 Single family 177,829 5,869 155 6,327 192 — 190,372 Multifamily 3,588 — 507 — — — 4,095 All other loans 2,050 — — — — — 2,050 Total $ 476,647 $ 54,510 $ 19,307 $ 8,351 $ 236 $ — $ 559,051 Performing Nonperforming Consumer Credit Exposure by Payment Activity $ 10,168 $ 19 |
Troubled Debt Restructurings (T
Troubled Debt Restructurings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Troubled Debt Restructuring Note, Debtor [Abstract] | |
Schedule Of Troubled Debt Restructurings On Financing Receivables | The following tables set forth information on the Company’s troubled debt restructurings by class of financing receivable occurring during the years ended December 31, 2018 , 2017 and 2016 : For the Year Ended December 31, 2018 (in thousands) Number of Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Residential: Single family 1 $ 86 $ 86 Total 1 $ 86 $ 86 For the Year Ended December 31, 2017 (in thousands) Number of Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Consumer: Installment 1 $ 22 $ 22 Total 1 $ 22 $ 22 For the Year Ended December 31, 2016 (in thousands) Number of Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial Real Estate: Non-owner occupied 1 $ 736 $ 736 Residential: Single family 4 560 463 Total 5 $ 1,296 $ 1,199 |
Loans By Class Of Financing Receivable Modified As TDRs | Loans by class of financing receivable modified as TDRs within the previous 12 months and for which there was a payment default during the stated periods were: For the Year Ended December 31, 2018 (in thousands) Number of Contracts Recorded Investment Total — $ — For the Year Ended December 31, 2017 (in thousands) Number of Recorded Total — $ — For the Year Ended December 31, 2016 (in thousands) Number of Recorded Residential: Single family 2 $ 588 Total 2 $ 588 |
Bank Premises and Equipment, _2
Bank Premises and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Major Classes Of Bank Premises And Equipment And Total Accumulated Depreciation | The major classes of bank premises and equipment and the total accumulated depreciation at December 31, 2018 and 2017 were as follows: December 31, 2018 2017 (in thousands) Land $ 6,729 $ 6,729 Buildings and improvements 18,100 17,970 Furniture and equipment 7,312 7,100 $ 32,141 $ 31,799 Less accumulated depreciation 13,058 12,220 Bank premises and equipment, net $ 19,083 $ 19,579 |
Schedule Of Total Minimum Rental Commitment On Leased Facilities | The total minimum rental commitment at December 31, 2018 under this lease was due as follows: December 31, 2018 (in thousands) 2019 $ 200 2020 213 2021 220 2022 220 2023 220 Thereafter 1,504 $ 2,577 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Deposits [Abstract] | |
Composition Of Deposits | The composition of deposits at December 31, 2018 and December 31, 2017 was as follows: December 31, 2018 2017 (in thousands) Noninterest bearing demand deposits $ 251,184 $ 234,990 Savings and interest bearing demand deposits: NOW accounts $ 91,549 $ 91,288 Money market accounts 140,581 129,497 Regular savings accounts 104,648 102,163 $ 336,778 $ 322,948 Time deposits: Balances of less than $250,000 $ 62,063 $ 62,681 Balances of $250,000 and more 53,079 42,795 $ 115,142 $ 105,476 $ 703,104 $ 663,414 |
Maturities Of Time Deposits | The outstanding balance of time deposits at December 31, 2018 was due as follows: December 31, 2018 (in thousands) 2019 $ 99,562 2020 7,033 2021 5,715 2022 1,732 2023 1,091 Thereafter 9 $ 115,142 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Advances from Federal Home Loan Banks [Abstract] | |
Summary Of Information Related To Federal Funds Purchased | The following table summarizes information related to federal funds purchased for the years ended December 31, 2018 and 2017 : December 31, 2018 2017 (dollars in thousands) Balance at year-end $ 1,871 $ — Average balance during the year $ 964 $ 823 Average interest rate during the year 2.63 % 1.64 % Maximum month-end balance during the year $ 7,820 $ 3,413 Gross lines of credit at year-end $ 28,000 $ 28,000 Unused lines of credit at year-end $ 26,129 $ 28,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule Of Net Deferred Tax Assets | The net deferred tax asset at December 31, 2018 and 2017 consisted of the following components: December 31, 2018 2017 (in thousands) Deferred tax assets: Allowance for loan losses $ 1,141 $ 922 Deferred compensation 92 72 Accrued postretirement benefits 23 23 Home equity origination costs 51 46 Nonaccrual interest 41 101 Securities available for sale 424 — Credit carryforward 216 — Other 54 53 $ 2,042 $ 1,217 Deferred tax liabilities: Property and equipment $ 508 $ 506 Securities available for sale — 71 $ 508 $ 577 Net deferred tax asset $ 1,534 $ 640 |
Schedule Of Components Of Income Tax Expense | Income tax expense for the years ended December 31, 2018 , 2017 and 2016 consisted of the following components: December 31, 2018 2017 2016 (in thousands) Current tax expense $ 1,713 $ 3,094 $ 2,346 Deferred tax (benefit) expense (399 ) 135 207 Deferred tax adjustment for enacted rate change — 397 — $ 1,314 $ 3,626 $ 2,553 |
Schedule Of Income Tax Reconciliation | The following table reconciles income tax expense to the statutory federal corporate income tax amount, which was calculated by applying the federal corporate income tax rate to pre-tax income for the years ended December 31, 2018 , 2017 and 2016 . December 31, 2018 2017 2016 (in thousands) Statutory federal corporate tax amount $ 2,166 $ 3,880 $ 3,034 Tax-exempt interest (income) (301 ) (417 ) (387 ) Officer insurance loss (income) 13 (92 ) 15 Net tax credits (605 ) (165 ) (126 ) Corporate tax rate change — 397 — Other, net 41 23 17 $ 1,314 $ 3,626 $ 2,553 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation [Abstract] | |
Restricted Stock Activity | The following table presents the activity for Restricted Stock for the years ended December 31, 2018 , 2017 and 2016 : Twelve Months Ended December 31, 2018 2017 2016 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Nonvested, beginning of period 14,401 $ 24.68 14,901 $ 23.05 14,401 $ 22.98 Granted 16,950 32.84 14,650 27.46 14,650 23.07 Vested (14,609 ) 28.38 (14,493 ) 25.90 (13,196 ) 23.00 Forfeited (41 ) 25.50 (657 ) 23.00 (954 ) 23.00 Nonvested, end of period 16,701 $ 29.72 14,401 $ 24.68 14,901 $ 23.05 |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Effect Of The Derivative Instrument On The Consolidated Balance Sheet, Consolidated Statements Of Income | The following tables present the effect of the derivative instrument on the Consolidated Statements of Income for the year ended December 31, 2016 : Derivatives not designated as hedging instruments under GAAP Location of Gain (Loss) Amount of Gain (Loss) 2016 (dollars in thousands) Interest rate swap contracts, net of tax Other operating income 149 |
Capital Requirements (Tables)
Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Schedule Of Capital Requirements | The following table presents the Company’s and the Bank’s actual capital amounts and ratios at December 31, 2018 and 2017 : Minimum To Be Well Minimum Capital Capitalized Under Prompt Corrective Actual Requirement Action Provisions Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2018: Common Equity Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 85,763 13.99 % $ 27,596 4.50 % $ 39,861 6.50 % Total Capital to Risk Weighted Assets Bank of Clarke County $ 91,237 14.88 % $ 49,060 8.00 % $ 61,325 10.00 % Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 85,763 13.99 % $ 36,795 6.00 % $ 49,060 8.00 % Tier 1 Capital to Average Assets Bank of Clarke County $ 85,763 10.92 % $ 31,424 4.00 % $ 39,280 5.00 % December 31, 2017: Common Equity Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 80,150 14.08 % $ 25,622 4.50 % $ 37,009 6.50 % Total Capital to Risk Weighted Assets Bank of Clarke County $ 84,583 14.86 % $ 45,550 8.00 % $ 56,938 10.00 % Tier 1 Capital to Risk Weighted Assets Bank of Clarke County $ 80,150 14.08 % $ 34,163 6.00 % $ 45,550 8.00 % Tier 1 Capital to Average Assets Bank of Clarke County $ 80,150 10.86 % $ 29,511 4.00 % $ 36,889 5.00 % |
Financial Instruments with Of_2
Financial Instruments with Off-Balance-Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule Of Financial Instruments | At December 31, 2018 and 2017 , the following financial instruments were outstanding whose contract amounts represent credit risk: 2018 2017 (dollar in thousands) Commitments to extend credit $ 21,616 $ 3,959 Unfunded commitments under lines of credit 105,902 108,483 Commercial and standby letters of credit 6,380 8,437 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Noninterest Income Disaggregated by Major Source | Noninterest income disaggregated by major source, for the years ended December 31, 2018 , 2017 and 2016 , consisted of the following: December 31, 2018 2017 2016 (dollar in thousands) Noninterest income: Income from fiduciary activities(1): Trust asset management fees $ 1,360 $ 1,238 $ 1,356 Service charges on deposit accounts(1): Overdrawn account fees 995 999 1,003 Monthly and other service charges 223 224 224 Other service charges and fees: Interchange fees (1) 361 331 296 ATM fees (1) 2,240 2,046 2,056 Brokerage commissions (1) 831 865 744 Other charges and fees (2) 741 636 617 (Loss) on the sale and disposal of bank premises and equipment (1) (3 ) (12 ) (10 ) Gain (loss) on sale of securities 17 (10 ) 98 Other operating income (3) 114 463 285 Total noninterest income $ 6,879 $ 6,780 $ 6,669 (1) Income within the scope of Topic 606. (2) Includes income within the scope of Topic 606 of $671 thousand , $583 thousand , and $565 thousand for the years ended December 31, 2018 , 2017 , and 2016 , respectively. The remaining balance is outside the scope of Topic 606. (3) Includes income within the scope of Topic 606 of $153 thousand , $190 thousand , and $159 thousand for the years ended December 31, 2018 2017 , and 2016 , respectively. The remaining balance is outside the scope of Topic 606. |
Quarterly Condensed Statement_2
Quarterly Condensed Statements of Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule Of Quarterly Condensed Statements Of Income | The Company’s quarterly net income, net income per common share and dividends per common share during 2018 , 2017 and 2016 are summarized as follows: 2018 Quarter Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) Total interest and dividend income $ 7,475 $ 7,994 $ 8,131 $ 8,323 Net interest income after provision for loan losses 6,844 7,518 7,286 6,983 Noninterest income 1,801 1,665 1,804 1,609 Noninterest expenses 5,630 6,166 7,310 6,089 Income before income taxes 3,015 3,017 1,780 2,503 Net income 2,539 2,521 1,860 2,081 Net income per common share, basic 0.73 0.73 0.54 0.60 Net income per common share, diluted 0.73 0.73 0.54 0.60 Dividends per common share 0.23 0.23 0.24 0.24 2017 Quarter Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) Total interest and dividend income $ 6,566 $ 7,004 $ 7,458 $ 7,323 Net interest income after (recovery of) loan losses 6,890 6,985 7,109 6,838 Noninterest income 1,673 1,598 1,617 1,892 Noninterest expenses 5,711 5,747 5,909 5,823 Income before income taxes 2,852 2,836 2,817 2,907 Net income 2,042 2,027 2,007 1,710 Net income per common share, basic 0.59 0.58 0.58 0.49 Net income per common share, diluted 0.59 0.58 0.58 0.49 Dividends per common share 0.22 0.22 0.22 0.22 2016 Quarter Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) Total interest and dividend income $ 6,421 $ 6,642 $ 6,279 $ 6,443 Net interest income after (recovery of) loan losses 6,035 6,345 6,162 6,364 Noninterest income 1,635 1,738 1,687 1,609 Noninterest expenses 5,554 5,832 5,871 5,395 Income before income taxes 2,116 2,251 1,978 2,578 Net income 1,525 1,610 1,430 1,805 Net income per common share, basic 0.43 0.46 0.40 0.52 Net income per common share, diluted 0.43 0.46 0.40 0.52 Dividends per common share 0.20 0.20 0.20 0.22 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following table presents balances of financial assets and liabilities measured at fair value on a recurring basis at December 31, 2018 and December 31, 2017 : Fair Value Measurements at December 31, 2018 Using Balance as of Quoted Prices Significant Significant December 31, 2018 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 21,731 $ — $ 21,731 $ — Mortgage-backed securities 76,483 — 76,483 — Obligations of states and political subdivisions 46,084 — 46,084 — Total assets at fair value $ 144,298 $ — $ 144,298 $ — Liabilities: Total liabilities at fair value $ — $ — $ — $ — Fair Value Measurements at December 31, 2017 Using Balance as of Quoted Prices Significant Significant December 31, 2017 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 21,520 $ — $ 21,520 $ — Mortgage-backed securities 61,244 — 61,244 — Obligations of states and political subdivisions 49,802 — 49,259 543 Total assets at fair value $ 132,566 $ — $ 132,023 $ 543 Liabilities: Total liabilities at fair value $ — $ — $ — $ — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The table below presents a reconciliation for all assets measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2018 and 2017 . Level 3 Recurring Fair Value Measurements As of and for the Year Ended December 31, 2018 December 31, 2017 (in thousands) Beginning balance $ 543 $ 614 Purchases — — Sales — — Issuances — — Settlements (543 ) (71 ) Total assets at fair value $ — $ 543 |
Quantitative Information About Level 3 Fair Value Measurements For Certain Financial Assets | The following table displays quantitative information about Level 3 Fair Value Measurements for certain financial assets measured at fair value on a nonrecurring basis for December 31, 2018 and December 31, 2017 : Quantitative information about Level 3 Fair Value Measurements for December 31, 2018 Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Impaired loans Discounted appraised value Selling cost 0% - 12% 8% Impaired loans Present value of cash flows Discount rate 4% - 6% 5% Other real estate owned Discounted appraised value Discount for current market conditions and selling costs 6% 6% Quantitative information about Level 3 Fair Value Measurements for December 31, 2017 Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Impaired loans Discounted appraised value Selling cost 6% - 12% 7% Impaired loans Present value of cash flows Discount rate 4% - 10% 5% Other real estate owned Discounted appraised value Discount for current market conditions and selling costs 6% 6% |
Financial And Nonfinancial Assets Measured At Fair Value On A Nonrecurring Basis | The following table summarizes the Company’s financial and nonfinancial assets that were measured at fair value on a nonrecurring basis at December 31, 2018 and December 31, 2017 : Carrying value at December 31, 2018 Balance as of Identical Assets Observable Inputs Unobservable Inputs December 31, 2018 (Level 1) (Level 2) (Level 3) (in thousands) Financial Assets: Impaired loans $ 3,598 $ — $ — $ 3,598 Nonfinancial Assets: Other real estate owned 106 — — 106 Carrying value at December 31, 2017 Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2017 (Level 1) (Level 2) (Level 3) (in thousands) Financial Assets: Impaired loans $ 2,248 $ — $ — $ 2,248 Nonfinancial Assets: Other real estate owned 106 — — 106 |
Company's Financial Instruments | The carrying amount and fair value of the Company’s financial instruments at December 31, 2018 and 2017 were as follows: Fair Value Measurements at December 31, 2018 Using Carrying Value as of Quoted Prices Significant Significant Fair Value as of December 31, 2018 (Level 1) (Level 2) (Level 3) December 31, 2018 (in thousands) Financial Assets: Cash and short-term investments $ 18,353 $ 18,353 $ — $ — $ 18,353 Securities 144,298 — 144,298 — 144,298 Restricted Investments 1,170 — 1,170 — 1,170 Loans, net 601,371 — — 592,566 592,566 Bank owned life insurance 447 — 447 — 447 Accrued interest receivable 2,222 — 2,222 — 2,222 Financial Liabilities: Deposits $ 703,104 $ — $ 703,323 $ — $ 703,323 Federal funds purchased 1,871 — 1,871 — 1,871 Accrued interest payable 101 — 101 — 101 Fair Value Measurements at December 31, 2017 Using Carrying Value Quoted Prices Significant Significant Fair Value as of December 31, 2017 (Level 1) (Level 2) (Level 3) December 31, 2017 (in thousands) Financial assets: Cash and short-term investments $ 35,848 $ 35,848 $ — $ — $ 35,848 Securities 132,566 — 132,023 543 132,566 Restricted Investments 1,107 — 1,107 — 1,107 Loans, net 564,406 — — 559,665 559,665 Bank owned life insurance 1,955 — 1,955 — 1,955 Accrued interest receivable 486 — 486 — 486 Financial liabilities: Deposits $ 663,414 $ — $ 662,696 $ — $ 662,696 Accrued interest payable 44 — 44 — 44 |
Change in Accumulated Other C_2
Change in Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Changes To Accumulated Other Comprehensive Income By Components | Changes to accumulated other comprehensive income (loss) by components are shown in the following tables for the years ended December 31, 2018 , 2017 , and 2016 : Twelve Months Ended December 31, 2018 2017 2016 Unrealized Gains and Losses on Available for Sale Securities Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan Total Unrealized Gains and Losses on Available for Sale Securities Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan Total Unrealized Gains and Losses on Available for Sale Securities Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan Total (dollars in thousands) January 1 $ 266 $ 44 $ 310 $ (63 ) $ 39 $ (24 ) $ 1,012 $ 39 $ 1,051 Other comprehensive (loss) income before reclassifications (2,341 ) — (2,341 ) 422 4 426 (1,531 ) — (1,531 ) Reclassifications from other comprehensive (loss) income (17 ) — (17 ) 10 (7 ) 3 (98 ) — (98 ) Reclassification of stranded tax effects from change in tax rate — — — 44 7 51 — — — Tax effect of current period changes 495 — 495 (147 ) 1 (146 ) 554 — 554 Current period changes net of taxes (1,863 ) — (1,863 ) 329 5 334 (1,075 ) — (1,075 ) December 31 $ (1,597 ) $ 44 $ (1,553 ) $ 266 $ 44 $ 310 $ (63 ) $ 39 $ (24 ) |
Condensed Financial Informati_2
Condensed Financial Information - Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule Of Condensed Balance Sheets | EAGLE FINANCIAL SERVICES , INC. (Parent Company Only) Balance Sheets December 31, 2018 and 2017 (dollars in thousands) 2018 2017 Assets Cash held in subsidiary bank $ 402 $ 426 Loans, net of allowance 2,896 2,825 Investment in subsidiaries, at cost, plus undistributed net income 84,210 80,459 Other assets 91 107 Total assets $ 87,599 $ 83,817 Liabilities and Shareholders’ Equity Total liabilities $ — $ — Shareholders’ Equity Preferred stock $ — $ — Common stock 8,573 8,587 Surplus 11,992 12,075 Retained earnings 68,587 62,845 Accumulated other comprehensive (loss) income (1,553 ) 310 Total shareholders’ equity $ 87,599 $ 83,817 Total liabilities and shareholders’ equity $ 87,599 $ 83,817 |
Schedule Of Condensed Income Statement | EAGLE FINANCIAL SERVICES , INC. (Parent Company Only) Statements of Income Years Ended December 31, 2018 , 2017 , and 2016 (dollars in thousands) 2018 2017 2016 Income Dividends from subsidiary bank $ 3,500 $ 3,800 $ 4,350 Interest and fees on loans 115 106 97 Other interest and dividends — — 2 Other income — — 149 Total income $ 3,615 $ 3,906 $ 4,598 Expenses Interest expense on borrowings $ — $ — $ 143 Other operating expenses 272 255 211 Total expenses $ 272 $ 255 $ 354 Income before income tax (benefit) and equity in undistributed earnings of subsidiary bank $ 3,343 $ 3,651 $ 4,244 Income Tax (Benefit) (45 ) (58 ) (36 ) Income before equity in undistributed earnings of subsidiary bank $ 3,388 $ 3,709 $ 4,280 Equity in Undistributed Net Income of Subsidiary Bank 5,613 4,077 2,090 Net income $ 9,001 $ 7,786 $ 6,370 Comprehensive income $ 7,138 $ 8,069 $ 5,295 |
Schedule Of Condensed Cash Flows Statement | EAGLE FINANCIAL SERVICES , INC. (Parent Company Only) Statements of Cash Flows Years Ended December 31, 2018 , 2017 , and 2016 (dollars in thousands) 2018 2017 2016 Cash Flows from Operating Activities Net Income $ 9,001 $ 7,786 $ 6,370 Adjustments to reconcile net income to net cash provided by operating activities Provision for (Recovery of) loan losses 2 (2 ) (2 ) Fair value adjustment on derivative contract — — (149 ) Stock-based compensation expense 518 382 314 Undistributed earnings of subsidiary bank (5,613 ) (4,077 ) (2,090 ) Changes in assets and liabilities: Decrease (increase) in other assets 15 (62 ) (39 ) (Decrease) in other liabilities — — (568 ) Net cash provided by operating activities $ 3,923 $ 4,027 $ 3,836 Cash Flows from Investing Activities Net (increase) decrease in loans $ (73 ) $ 58 $ 62 Net cash (used in) provided by investing activities $ (73 ) $ 58 $ 62 Cash Flows from Financing Activities Cash dividends paid $ (2,776 ) $ (2,652 ) $ (2,354 ) Issuance of common stock, employee benefit plan 163 166 81 Retirement of common stock (1,261 ) (1,564 ) (2,143 ) Net cash (used in) financing activities $ (3,874 ) $ (4,050 ) $ (4,416 ) (Decrease) increase in cash $ (24 ) $ 35 $ (518 ) Cash Beginning $ 426 $ 391 $ 909 Ending $ 402 $ 426 $ 391 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Other Real Estate, Roll Forward | Year Ended Year Ended December 31, December 31, 2018 2017 Balance, beginning $ 106 $ 370 Net loans transferred to OREO 2,799 53 Sales (2,799 ) (317 ) Valuation adjustments — — Balance, ending $ 106 $ 106 |
Schedule of Real Estate Properties | As of December 31, 2018 December 31, 2017 (in thousands) Construction and Farmland $ 106 $ 106 Residential Real Estate — — Commercial Real Estate — — Subtotal $ 106 $ 106 Less valuation allowance — — Total $ 106 $ 106 |
Nature of Banking Activities _4
Nature of Banking Activities and Significant Accounting Policies (Narrative) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 20, 2018 | |
Property, Plant and Equipment [Line Items] | ||||
Ownership percentage in subsidiaries | 100.00% | |||
Period interest on mortgage loans is discontinued | 120 days | |||
Period Interest on commercial loans discontinued | 90 days | |||
Credit card loans and other personal loans are charged off | 180 days | |||
Limit of the estimated appraised value of the furnished home | 80.00% | |||
Authorized issuance of shares of common stock | 500,000 | |||
"More likely than not" threshold | 50.00% | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | |||
Number of shares of common stock able to be repurchased | 150,000 | |||
Treasury Stock, Shares, Retired | 39,333 | 52,936 | 89,607 | |
Stock Repurchased and Retired During Period, Value | $ 32.06 | $ 29.54 | $ 23.92 | |
Maximum numbers of shares that may yet be purchased under plan | 115,667 | |||
Building [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 39 years | |||
Building [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 10 years | |||
Furniture and equipment [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 10 years | |||
Furniture and equipment [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 3 years |
Nature of Banking Activities _5
Nature of Banking Activities and Significant Accounting Policies (Weighted Average Number of Shares Used In Computing Earnings Per Share) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Weighted average number of common shares outstanding used to calculate basic earnings per share (in shares) | 3,467,667 | 3,468,275 | 3,518,848 |
Effect of dilutive common stock (in shares) | 0 | 0 | 0 |
Weighted average number of common shares outstanding used to calculate diluted earnings per share (in shares) | 3,467,667 | 3,468,275 | 3,518,848 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)security | Dec. 31, 2017USD ($)security | Dec. 31, 2016USD ($) | |
Available-for-sale Securities [Abstract] | |||
Sales of securities available for sale | $ 5,374 | $ 20,283 | $ 11,356 |
Available-for-sale Securities, Gross Realized Gain (Loss) | 62 | 94 | 108 |
Available-for-sale Securities, Gross Realized Losses | $ 45 | $ 104 | $ 10 |
Debt securities included in gross unrealized losses on available for sale securities | security | 95 | 54 | |
Carrying value of securities pledged as collateral | $ 2,900 |
Securities (Amortized Costs and
Securities (Amortized Costs and Fair Values of Securities Available for Sale) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 146,318 | $ 132,228 |
Gross Unrealized Gains | 568 | 1,128 |
Gross Unrealized (Losses) | (2,588) | (790) |
Securities available for sale | 144,298 | 132,566 |
Obligations of U.S. government corporations and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 22,183 | 21,565 |
Gross Unrealized Gains | 29 | 213 |
Gross Unrealized (Losses) | (481) | (258) |
Securities available for sale | 21,731 | 21,520 |
Mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 77,976 | 61,464 |
Gross Unrealized Gains | 145 | 126 |
Gross Unrealized (Losses) | (1,638) | (346) |
Securities available for sale | 76,483 | 61,244 |
Obligations of states and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 46,159 | 49,199 |
Gross Unrealized Gains | 394 | 789 |
Gross Unrealized (Losses) | (469) | (186) |
Securities available for sale | $ 46,084 | $ 49,802 |
Securities (Restricted Investme
Securities (Restricted Investments) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted securities | $ 1,170 | $ 1,107 |
Federal Reserve Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted securities | 344 | 344 |
Federal Home Loan Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted securities | 686 | 623 |
Community Bankers' Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted securities | $ 140 | $ 140 |
Securities (Contractual Maturit
Securities (Contractual Maturity of Securities Available for Sale) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Due in one year or less, Amortized Cost | $ 1,356 | |
Due after one year through five years, Amortized Cost | 12,011 | |
Due after five years through ten years, Amortized Cost | 49,511 | |
Due after ten years, Amortized Cost | 83,440 | |
Amortized Cost | 146,318 | $ 132,228 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Due in one year or less, Fair Value | 1,361 | |
Due after one year through five years, Fair Value | 12,043 | |
Due after five years through ten years, Fair Value | 48,933 | |
Due after ten years, Fair Value | 81,961 | |
Fair Value | $ 144,298 | $ 132,566 |
Securities (Fair Value and Gros
Securities (Fair Value and Gross Unrealized Losses for Securities Available for Sale) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Fair Value, Less than 12 months | $ 22,226 | $ 20,411 |
Fair Value, 12 months or more | 69,540 | 30,433 |
Fair Value, Total | 91,766 | 50,844 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Gross Unrealized Losses, Less than 12 months | 390 | 144 |
Gross Unrealized Losses, 12 months or more | 2,198 | 646 |
Gross Unrealized Losses, Total | 2,588 | 790 |
Obligations of U.S. government corporations and agencies [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Fair Value, Less than 12 months | 1,973 | 4,455 |
Fair Value, 12 months or more | 13,710 | 7,810 |
Fair Value, Total | 15,683 | 12,265 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Gross Unrealized Losses, Less than 12 months | 6 | 58 |
Gross Unrealized Losses, 12 months or more | 475 | 200 |
Gross Unrealized Losses, Total | 481 | 258 |
Mortgage-backed securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Fair Value, Less than 12 months | 16,659 | 11,885 |
Fair Value, 12 months or more | 42,966 | 17,931 |
Fair Value, Total | 59,625 | 29,816 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Gross Unrealized Losses, Less than 12 months | 332 | 59 |
Gross Unrealized Losses, 12 months or more | 1,306 | 287 |
Gross Unrealized Losses, Total | 1,638 | 346 |
Obligations of states and political subdivisions [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Fair Value, Less than 12 months | 3,594 | 4,071 |
Fair Value, 12 months or more | 12,864 | 4,692 |
Fair Value, Total | 16,458 | 8,763 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Gross Unrealized Losses, Less than 12 months | 52 | 27 |
Gross Unrealized Losses, 12 months or more | 417 | 159 |
Gross Unrealized Losses, Total | $ 469 | $ 186 |
Loans (Schedule of Composition
Loans (Schedule of Composition of Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | $ 607,315 | $ 569,238 | $ 517,125 |
Net deferred loan fees | (488) | (421) | |
Less: Allowance for loan losses | (5,456) | (4,411) | |
Net Loans | 601,371 | 564,406 | |
Construction and land development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | 54,675 | 43,786 | |
Secured by farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | 7,251 | 8,568 | |
Secured by 1-4 family residential properties [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | 221,861 | 223,210 | |
Multifamily [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | 7,923 | 4,095 | |
Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | 265,595 | 239,915 | $ 208,525 |
Commercial and industrial loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | 33,086 | 37,427 | |
Consumer installment loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | 8,470 | 10,187 | |
All other loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans | $ 8,454 | $ 2,050 |
Allowance for Loan Losses (Narr
Allowance for Loan Losses (Narrative) (Details) $ in Thousands | Dec. 31, 2018USD ($)loan | Dec. 31, 2017USD ($)loan |
Financing Receivable, Recorded Investment [Line Items] | ||
Credit Quality Loans And Leases Receivable Gross Carrying Amount | $ 598,845 | $ 559,051 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit Quality Loans And Leases Receivable Gross Carrying Amount | $ 6,148 | $ 8,351 |
Consumer Installment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Credit Quality Loans And Leases Receivables Number Of Loans | loan | 0 | 3 |
Credit Quality Loans And Leases Receivable Gross Carrying Amount | $ 13 |
Allowance for Loan Losses (Chan
Allowance for Loan Losses (Changes in Allowance for Loan Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | $ 4,411 | $ 4,505 | $ 4,959 |
Provision For (Recovery Of) Loan Losses | 777 | (625) | (188) |
Recoveries added to the allowance | 504 | 901 | 341 |
Loan losses charged to the allowance | (236) | (370) | (607) |
Ending Balance | $ 5,456 | $ 4,411 | $ 4,505 |
Allowance for Loan Losses (Nona
Allowance for Loan Losses (Nonaccrual and Past Due Loans By Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | $ 2,187 | $ 6,280 | |
Current | 605,128 | 562,958 | |
Total Loans | 607,315 | 569,238 | $ 517,125 |
90 or More Days Past Due Still Accruing | 695 | 0 | |
Nonaccrual Loans | 2,118 | 6,339 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,091 | 1,126 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 196 | 950 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 900 | 4,204 | |
Commercial - Non Real Estate Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 127 | 227 | |
Current | 32,959 | 37,200 | |
Total Loans | 33,086 | 37,427 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
Nonaccrual Loans | 1,081 | 594 | |
Commercial - Non Real Estate Commercial And Industrial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 127 | 75 | |
Commercial - Non Real Estate Commercial And Industrial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 10 | |
Commercial - Non Real Estate Commercial And Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 142 | |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Current | 136,309 | 127,018 | |
Total Loans | 136,309 | 127,018 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
Nonaccrual Loans | 0 | 0 | |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Real Estate Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 368 | |
Current | 129,286 | 112,529 | |
Total Loans | 129,286 | 112,897 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
Nonaccrual Loans | 364 | 767 | |
Commercial Real Estate Non-Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Real Estate Non-Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 368 | |
Commercial Real Estate Non-Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Construction And Farmland Residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Current | 6,706 | 3,214 | |
Total Loans | 6,706 | 3,214 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
Construction And Farmland Residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Construction And Farmland Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Construction And Farmland Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | ||
Construction And Farmland Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 187 | |
Current | 55,220 | 48,953 | |
Total Loans | 55,220 | 49,140 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
Nonaccrual Loans | 0 | 0 | |
Construction And Farmland Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 187 | |
Construction And Farmland Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Construction And Farmland Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Consumer Installment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 4 | 19 | |
Current | 8,466 | 10,168 | |
Total Loans | 8,470 | 10,187 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
Nonaccrual Loans | 0 | 13 | |
Consumer Installment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 4 | 17 | |
Consumer Installment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Consumer Installment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 2 | |
Residential Equity Lines [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 18 | |
Current | 32,815 | 32,820 | |
Total Loans | 32,815 | 32,838 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
Nonaccrual Loans | 92 | 44 | |
Residential Equity Lines [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 18 | |
Residential Equity Lines [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential Equity Lines [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential Single Family [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,056 | 5,461 | |
Current | 186,990 | 184,911 | |
Total Loans | 189,046 | 190,372 | |
90 or More Days Past Due Still Accruing | 695 | 0 | |
Nonaccrual Loans | 581 | 4,921 | |
Residential Single Family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 960 | 829 | |
Residential Single Family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 196 | 572 | |
Residential Single Family [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 900 | 4,060 | |
Residential Multifamily [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 7,923 | 4,095 | |
Total Loans | 7,923 | 4,095 | |
90 or More Days Past Due Still Accruing | 0 | 0 | |
All Other Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 8,454 | 2,050 | |
Total Loans | 8,454 | 2,050 | $ 2,259 |
90 or More Days Past Due Still Accruing | $ 0 | $ 0 |
Allowance for Loan Losses (Allo
Allowance for Loan Losses (Allowance for Loan Losses By Segment) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | $ 4,411 | $ 4,505 | $ 4,959 |
Charge-Offs | (236) | (370) | (607) |
Recoveries | 504 | 901 | 341 |
Provision for (recovery of) loan losses | 777 | (625) | (188) |
Ending Balance | 5,456 | 4,411 | 4,505 |
Ending balance: Individually evaluated for impairment | 962 | 458 | 385 |
Ending balance: collectively evaluated for impairment | 4,494 | 3,953 | 4,120 |
Loans: Ending balance | 607,315 | 569,238 | 517,125 |
Ending balance individually evaluated for impairment | 8,559 | 11,426 | 13,380 |
Ending balance collectively evaluated for impairment | 598,756 | 557,812 | 503,745 |
Construction And Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | 332 | 450 | 775 |
Charge-Offs | 0 | (19) | 0 |
Recoveries | 266 | 535 | 144 |
Provision for (recovery of) loan losses | (15) | (634) | (469) |
Ending Balance | 583 | 332 | 450 |
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 583 | 332 | 450 |
Loans: Ending balance | 61,926 | 52,354 | 31,791 |
Ending balance individually evaluated for impairment | 280 | 315 | 1,320 |
Ending balance collectively evaluated for impairment | 61,646 | 52,039 | 30,471 |
Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | 1,754 | 1,992 | 2,322 |
Charge-Offs | (24) | (55) | (535) |
Recoveries | 28 | 212 | 124 |
Provision for (recovery of) loan losses | 30 | (395) | 81 |
Ending Balance | 1,788 | 1,754 | 1,992 |
Ending balance: Individually evaluated for impairment | 119 | 195 | 268 |
Ending balance: collectively evaluated for impairment | 1,669 | 1,559 | 1,724 |
Loans: Ending balance | 229,784 | 227,305 | 231,532 |
Ending balance individually evaluated for impairment | 4,044 | 8,315 | 8,608 |
Ending balance collectively evaluated for impairment | 225,740 | 218,990 | 222,924 |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | 1,627 | 1,522 | 1,268 |
Charge-Offs | 0 | (1) | 0 |
Recoveries | 78 | 65 | 8 |
Provision for (recovery of) loan losses | 283 | 41 | 246 |
Ending Balance | 1,988 | 1,627 | 1,522 |
Ending balance: Individually evaluated for impairment | 193 | 59 | 102 |
Ending balance: collectively evaluated for impairment | 1,795 | 1,568 | 1,420 |
Loans: Ending balance | 265,595 | 239,915 | 208,525 |
Ending balance individually evaluated for impairment | 2,919 | 1,904 | 2,864 |
Ending balance collectively evaluated for impairment | 262,676 | 238,011 | 205,661 |
Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | 570 | 235 | 211 |
Charge-Offs | (139) | (187) | 0 |
Recoveries | 100 | 44 | 11 |
Provision for (recovery of) loan losses | 388 | 478 | 13 |
Ending Balance | 919 | 570 | 235 |
Ending balance: Individually evaluated for impairment | 650 | 195 | 15 |
Ending balance: collectively evaluated for impairment | 269 | 375 | 220 |
Loans: Ending balance | 33,086 | 37,427 | 30,341 |
Ending balance individually evaluated for impairment | 1,316 | 858 | 581 |
Ending balance collectively evaluated for impairment | 31,770 | 36,569 | 29,760 |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | 69 | 69 | 109 |
Charge-Offs | (33) | (59) | (30) |
Recoveries | 19 | 40 | 49 |
Provision for (recovery of) loan losses | (2) | 19 | (59) |
Ending Balance | 53 | 69 | 69 |
Ending balance: Individually evaluated for impairment | 0 | 9 | 0 |
Ending balance: collectively evaluated for impairment | 53 | 60 | 69 |
Loans: Ending balance | 8,470 | 10,187 | 12,677 |
Ending balance individually evaluated for impairment | 0 | 34 | 7 |
Ending balance collectively evaluated for impairment | 8,470 | 10,153 | 12,670 |
All Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | 29 | 22 | 53 |
Charge-Offs | (40) | (49) | (42) |
Recoveries | 13 | 5 | 5 |
Provision for (recovery of) loan losses | 95 | 51 | 6 |
Ending Balance | 97 | 29 | 22 |
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 97 | 29 | 22 |
Loans: Ending balance | 8,454 | 2,050 | 2,259 |
Ending balance individually evaluated for impairment | 0 | 0 | 0 |
Ending balance collectively evaluated for impairment | 8,454 | 2,050 | 2,259 |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning Balance | 30 | 215 | 221 |
Charge-Offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision for (recovery of) loan losses | (2) | (185) | (6) |
Ending Balance | 28 | 30 | 215 |
Ending balance: Individually evaluated for impairment | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 28 | 30 | 215 |
Loans: Ending balance | 0 | 0 | 0 |
Ending balance individually evaluated for impairment | $ 0 | $ 0 | |
Ending balance collectively evaluated for impairment | $ 0 |
Allowance for Loan Losses (Sche
Allowance for Loan Losses (Schedule of Change in Allowance Methodology) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | $ 777 | $ (625) | $ (188) |
Construction And Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | (15) | (634) | (469) |
Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 30 | (395) | 81 |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 283 | 41 | 246 |
Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 388 | 478 | 13 |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | (2) | 19 | (59) |
All Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 95 | $ 51 | $ 6 |
Total Excluding Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 779 | ||
Calculated Provision Based on Prior Methodology [Member] | Construction And Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | (197) | ||
Calculated Provision Based on Prior Methodology [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | (161) | ||
Calculated Provision Based on Prior Methodology [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 140 | ||
Calculated Provision Based on Prior Methodology [Member] | Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 326 | ||
Calculated Provision Based on Prior Methodology [Member] | Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | (7) | ||
Calculated Provision Based on Prior Methodology [Member] | All Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 102 | ||
Calculated Provision Based on Prior Methodology [Member] | Total Excluding Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 203 | ||
Difference [Member] | Construction And Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 182 | ||
Difference [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 191 | ||
Difference [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 143 | ||
Difference [Member] | Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 62 | ||
Difference [Member] | Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | 5 | ||
Difference [Member] | All Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | (7) | ||
Difference [Member] | Total Excluding Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for (recovery of) loan losses | $ 576 |
Allowance for Loan Losses (Impa
Allowance for Loan Losses (Impaired Loans By Class) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | $ 9,453 | $ 12,495 | |
Recorded Investment | 8,590 | 11,445 | |
Related Allowance | 962 | 458 | |
Average Recorded Investment | 8,898 | 11,642 | $ 13,700 |
Interest Income Recognized | 383 | 322 | $ 415 |
Consumer Installment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 34 | |
Recorded Investment | 0 | 34 | |
Related Allowance | 0 | 9 | |
Average Recorded Investment | 0 | 36 | |
Interest Income Recognized | 0 | 1 | |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 1,535 | 1,221 | |
Recorded Investment | 1,316 | 860 | |
Related Allowance | 650 | 195 | |
Average Recorded Investment | 1,485 | 909 | |
Interest Income Recognized | 85 | 40 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 2,976 | 1,941 | |
Recorded Investment | 2,926 | 1,907 | |
Related Allowance | 193 | 59 | |
Average Recorded Investment | 2,965 | 1,938 | |
Interest Income Recognized | 105 | 72 | |
Construction And Farmland [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 332 | 362 | |
Recorded Investment | 281 | 316 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 297 | 330 | |
Interest Income Recognized | 27 | 28 | |
Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 4,610 | 8,937 | |
Recorded Investment | 4,067 | 8,328 | |
Related Allowance | 119 | 195 | |
Average Recorded Investment | 4,151 | 8,429 | |
Interest Income Recognized | 166 | 181 | |
All Other Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | ||
With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 4,822 | 9,519 | |
Recorded Investment | 4,015 | 8,728 | |
Average Recorded Investment | 4,177 | 8,889 | |
Interest Income Recognized | 171 | 211 | |
With No Related Allowance [Member] | Commercial - Non Real Estate Commercial And Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 564 | 626 | |
Recorded Investment | 356 | 304 | |
Average Recorded Investment | 422 | 342 | |
Interest Income Recognized | 25 | 23 | |
With No Related Allowance [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 330 | |
Recorded Investment | 0 | 331 | |
Average Recorded Investment | 0 | 336 | |
Interest Income Recognized | 0 | 15 | |
With No Related Allowance [Member] | Commercial Real Estate Non-Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 558 | 805 | |
Recorded Investment | 501 | 767 | |
Average Recorded Investment | 511 | 785 | |
Interest Income Recognized | 4 | 20 | |
With No Related Allowance [Member] | Construction And Farmland Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment | 0 | ||
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | 0 | |
With No Related Allowance [Member] | Construction And Farmland Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 332 | 362 | |
Recorded Investment | 281 | 316 | |
Average Recorded Investment | 297 | 330 | |
Interest Income Recognized | 27 | 28 | |
With No Related Allowance [Member] | Consumer Installment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 25 | |
Recorded Investment | 0 | 25 | |
Average Recorded Investment | 0 | 27 | |
Interest Income Recognized | 0 | 1 | |
With No Related Allowance [Member] | Residential Equity Lines [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 468 | 0 | |
Recorded Investment | 92 | 0 | |
Average Recorded Investment | 93 | 0 | |
Interest Income Recognized | 0 | 0 | |
With No Related Allowance [Member] | Residential Single Family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 2,616 | 7,371 | |
Recorded Investment | 2,499 | 6,985 | |
Average Recorded Investment | 2,565 | 7,069 | |
Interest Income Recognized | 101 | 124 | |
With No Related Allowance [Member] | Residential Multifamily [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 284 | 0 | |
Recorded Investment | 286 | 0 | |
Average Recorded Investment | 289 | 0 | |
Interest Income Recognized | 14 | 0 | |
With No Related Allowance [Member] | All Other Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | ||
Recorded Investment | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
With An Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 4,631 | 2,976 | |
Recorded Investment | 4,575 | 2,717 | |
Related Allowance | 962 | 458 | |
Average Recorded Investment | 4,721 | 2,753 | |
Interest Income Recognized | 212 | 111 | |
With An Allowance Recorded [Member] | Commercial - Non Real Estate Commercial And Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 971 | 595 | |
Recorded Investment | 960 | 556 | |
Related Allowance | 650 | 195 | |
Average Recorded Investment | 1,063 | 567 | |
Interest Income Recognized | 60 | 17 | |
With An Allowance Recorded [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | 0 | |
With An Allowance Recorded [Member] | Commercial Real Estate Non-Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 2,418 | 806 | |
Recorded Investment | 2,425 | 809 | |
Related Allowance | 193 | 59 | |
Average Recorded Investment | 2,454 | 817 | |
Interest Income Recognized | 101 | 37 | |
With An Allowance Recorded [Member] | Construction And Farmland Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | 0 | |
With An Allowance Recorded [Member] | Construction And Farmland Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | 0 | |
With An Allowance Recorded [Member] | Consumer Installment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 9 | |
Recorded Investment | 0 | 9 | |
Related Allowance | 0 | 9 | |
Average Recorded Investment | 0 | 9 | |
Interest Income Recognized | 0 | 0 | |
With An Allowance Recorded [Member] | Residential Equity Lines [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 217 | |
Recorded Investment | 0 | 44 | |
Related Allowance | 0 | 44 | |
Average Recorded Investment | 0 | 45 | |
Interest Income Recognized | 0 | 0 | |
With An Allowance Recorded [Member] | Residential Single Family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 1,242 | 1,349 | |
Recorded Investment | 1,190 | 1,299 | |
Related Allowance | 119 | 151 | |
Average Recorded Investment | 1,204 | 1,315 | |
Interest Income Recognized | 51 | 57 | |
With An Allowance Recorded [Member] | Residential Multifamily [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | 0 | |
With An Allowance Recorded [Member] | All Other Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | $ 0 | $ 0 |
Allowance for Loan Losses (Cred
Allowance for Loan Losses (Credit Quality Information By Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | $ 598,845 | $ 559,051 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 484,520 | 476,647 |
Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 72,724 | 54,510 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 35,232 | 19,307 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 6,148 | 8,351 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 221 | 236 |
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 8,466 | 10,168 |
Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 4 | 19 |
Commercial - Non Real Estate Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 33,086 | 37,427 |
Commercial - Non Real Estate Commercial And Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 28,699 | 33,279 |
Commercial - Non Real Estate Commercial And Industrial [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 2,292 | 1,788 |
Commercial - Non Real Estate Commercial And Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 995 | 1,748 |
Commercial - Non Real Estate Commercial And Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 1,100 | 612 |
Commercial - Non Real Estate Commercial And Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Commercial - Non Real Estate Commercial And Industrial [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 136,309 | 127,018 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 110,418 | 112,649 |
Commercial Real Estate Owner Occupied [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 16,665 | 10,893 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 9,187 | 3,146 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 39 | 330 |
Commercial Real Estate Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Commercial Real Estate Owner Occupied [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Commercial Real Estate Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 129,286 | 112,897 |
Commercial Real Estate Non-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 106,658 | 82,050 |
Commercial Real Estate Non-Owner Occupied [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 17,139 | 17,992 |
Commercial Real Estate Non-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 3,397 | 12,088 |
Commercial Real Estate Non-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 2,092 | 767 |
Commercial Real Estate Non-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Commercial Real Estate Non-Owner Occupied [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Construction And Farmland Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 6,706 | 3,214 |
Construction And Farmland Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 2,295 | 2,614 |
Construction And Farmland Residential [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 1,120 | 600 |
Construction And Farmland Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 3,291 | 0 |
Construction And Farmland Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | |
Construction And Farmland Residential [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | |
Construction And Farmland Residential [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Construction And Farmland Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 55,220 | 49,140 |
Construction And Farmland Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 16,682 | 30,093 |
Construction And Farmland Commercial [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 22,533 | 17,069 |
Construction And Farmland Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 15,658 | 1,663 |
Construction And Farmland Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 347 | 315 |
Construction And Farmland Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Construction And Farmland Commercial [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Residential Equity Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 32,815 | 32,838 |
Residential Equity Lines [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 31,813 | 32,495 |
Residential Equity Lines [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 910 | 299 |
Residential Equity Lines [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Residential Equity Lines [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 16 | 0 |
Residential Equity Lines [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 76 | 44 |
Residential Equity Lines [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Residential Single Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 189,046 | 190,372 |
Residential Single Family [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 172,360 | 177,829 |
Residential Single Family [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 11,567 | 5,869 |
Residential Single Family [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 2,704 | 155 |
Residential Single Family [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 2,270 | 6,327 |
Residential Single Family [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 145 | 192 |
Residential Single Family [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Residential Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 7,923 | 4,095 |
Residential Multifamily [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 7,160 | 3,588 |
Residential Multifamily [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 479 | 0 |
Residential Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 507 |
Residential Multifamily [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 284 | 0 |
Residential Multifamily [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
Residential Multifamily [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | 0 |
All Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 8,454 | 2,050 |
All Other Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 8,435 | 2,050 |
All Other Loans [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 19 | 0 |
All Other Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | |
All Other Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | |
All Other Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 0 | |
All Other Loans [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | $ 0 | $ 0 |
Troubled Debt Restructurings (N
Troubled Debt Restructurings (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)contract | Dec. 31, 2017USD ($)contract | Dec. 31, 2016contract | |
Financing Receivable, Modifications [Line Items] | |||
Number of troubled debt restructured loans | 19 | 21 | |
Total troubled debt restructured loans | $ | $ 3,800 | $ 4,400 | |
Number of contracts in nonaccrual status | 2 | 1 | |
Total of loans in nonaccrual status | $ | $ 118 | $ 44 | |
Number of contracts | 1 | 1 | 5 |
Loan is considered payment default | 30 days | ||
Consumer Installment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Number of contracts modified by reducing the interest rate | 1 | ||
Residential Single Family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts modified by changing the amortization period | 1 | ||
Number of contracts modified by reducing the payment amount | 2 | ||
Number of contracts modified by changing payments to interest only | 1 | ||
Number of contracts modified by changing the amortization period and lowering the interest rate | 1 | ||
Commercial Real Estate Non-Owner Occupied [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Number of contracts modified by changing the amortization period and lowering the interest rate | 1 |
Troubled Debt Restructurings (S
Troubled Debt Restructurings (Schedule of Troubled Debt Restructurings on Financing Receivables) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)contract | Dec. 31, 2017USD ($)contract | Dec. 31, 2016USD ($)contract | |
Troubled Debt Restructuring, Subsequent Periods [Line Items] | |||
Number of Contracts | contract | 1 | 1 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 86 | $ 22 | $ 1,296 |
Post-Modification Outstanding Recorded Investment | $ 86 | $ 22 | $ 1,199 |
Consumer Installment [Member] | |||
Troubled Debt Restructuring, Subsequent Periods [Line Items] | |||
Number of Contracts | contract | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 22 | ||
Post-Modification Outstanding Recorded Investment | $ 22 | ||
Commercial Real Estate Non-Owner Occupied [Member] | |||
Troubled Debt Restructuring, Subsequent Periods [Line Items] | |||
Number of Contracts | contract | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 736 | ||
Post-Modification Outstanding Recorded Investment | $ 736 | ||
Residential Single Family [Member] | |||
Troubled Debt Restructuring, Subsequent Periods [Line Items] | |||
Number of Contracts | contract | 1 | 4 | |
Pre-Modification Outstanding Recorded Investment | $ 86 | $ 560 | |
Post-Modification Outstanding Recorded Investment | $ 86 | $ 463 |
Troubled Debt Restructurings (L
Troubled Debt Restructurings (Loans By Class of Financing Receivable Modified as TDRs) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)contract | Dec. 31, 2017USD ($)contract | Dec. 31, 2016USD ($)contract | |
Troubled Debt Restructuring, Subsequent Periods [Line Items] | |||
Number of Contracts | 19 | 21 | |
Troubled Debt Restructurings Within Previous Twelve Months [Member] | |||
Troubled Debt Restructuring, Subsequent Periods [Line Items] | |||
Number of Contracts | 0 | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 0 | $ 0 | $ 588 |
Residential Single Family [Member] | Troubled Debt Restructurings Within Previous Twelve Months [Member] | |||
Troubled Debt Restructuring, Subsequent Periods [Line Items] | |||
Number of Contracts | 2 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 588 |
Bank Premises and Equipment, _3
Bank Premises and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 925 | $ 946 | $ 932 |
Total building and equipment rental expense | 230 | 232 | 236 |
Building and improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation | 483 | 484 | 484 |
Furniture and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 442 | $ 462 | $ 448 |
Bank Premises and Equipment, _4
Bank Premises and Equipment, Net (Major Classes of Bank Premises and Equipment and Total Accumulated Depreciation) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Bank premises and equipment, gross | $ 32,141 | $ 31,799 |
Less accumulated depreciation | 13,058 | 12,220 |
Bank premises and equipment, net | 19,083 | 19,579 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Bank premises and equipment, gross | 6,729 | 6,729 |
Building and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Bank premises and equipment, gross | 18,100 | 17,970 |
Furniture and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Bank premises and equipment, gross | $ 7,312 | $ 7,100 |
Bank Premises and Equipment, _5
Bank Premises and Equipment, Net (Schedule of Total Minimum Rental Commitment on Leased Facilities) (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Property, Plant and Equipment [Abstract] | |
2019 | $ 200 |
2020 | 213 |
2021 | 220 |
2022 | 220 |
2023 | 220 |
Thereafter | 1,504 |
Total | $ 2,577 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Reciprocal Money Market Accounts Domestic | $ 18,400 | $ 20,300 |
Reciprocal Time Deposits Less Than $250000 Domestic | 212 | 210 |
Deposit overdrafts reclassified as loans | $ 183 | $ 115 |
Deposits (Composition of Deposi
Deposits (Composition of Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Noninterest bearing demand deposits | $ 251,184 | $ 234,990 |
Savings and interest bearing demand deposits: | ||
NOW accounts | 91,549 | 91,288 |
Money market accounts | 140,581 | 129,497 |
Regular savings accounts | 104,648 | 102,163 |
Savings and interest bearing demand deposits | 336,778 | 322,948 |
Time deposits: | ||
Balances of less than $250,000 | 62,063 | 62,681 |
Balances of $250,000 and more | 53,079 | 42,795 |
Time deposits | 115,142 | 105,476 |
Total deposits | $ 703,104 | $ 663,414 |
Deposits (Schedule of Outstandi
Deposits (Schedule of Outstanding Balance of Time Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
2019 | $ 99,562 | |
2020 | 7,033 | |
2021 | 5,715 | |
2022 | 1,732 | |
2023 | 1,091 | |
Thereafter | 9 | |
Time deposits | $ 115,142 | $ 105,476 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Federal Home Loan Bank Advances [Line Items] | ||
Other unused lines of credit | $ 5,000 | |
Gross lines of credit at year-end | 28,000 | $ 28,000 |
Federal Home Loan Bank Advances | 0 | $ 0 |
FHLB irrevocable letter of credit | 25,000 | |
Federal Home Loan Bank of Atlanta [Member] | ||
Schedule of Federal Home Loan Bank Advances [Line Items] | ||
Unused line of credit total | $ 169,600 | |
Available credit to total Bank assets, maximum percentage | 20.00% |
Borrowings (Summary of Informat
Borrowings (Summary of Information Related to Federal Funds Purchased) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Advances from Federal Home Loan Banks [Abstract] | ||
Federal funds purchased | $ 1,871 | $ 0 |
Average balance during the year | $ 964 | $ 823 |
Average interest rate during the year | 2.63% | 1.64% |
Maximum month-end balance during the year | $ 7,820 | $ 3,413 |
Gross lines of credit at year-end | 28,000 | 28,000 |
Unused lines of credit at year-end | $ 26,129 | $ 28,000 |
Income Taxes (Schedule of Net D
Income Taxes (Schedule of Net Deferred Tax Assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Allowance for loan losses | $ 1,141 | $ 922 |
Deferred compensation | 92 | 72 |
Accrued postretirement benefits | 23 | 23 |
Home equity origination costs | 51 | 46 |
Nonaccrual interest | 41 | 101 |
Securities available for sale | 424 | 0 |
Credit carryforward | 216 | 0 |
Other | 54 | 53 |
Total deferred tax assets | 2,042 | 1,217 |
Deferred tax liabilities: | ||
Property and equipment | 508 | 506 |
Securities available for sale | 0 | 71 |
Total deferred tax liabilities | 508 | 577 |
Net deferred tax asset | $ 1,534 | $ 640 |
Income Taxes (Schedule of Compo
Income Taxes (Schedule of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Current tax expense | $ 1,713 | $ 3,094 | $ 2,346 |
Deferred tax (benefit) expense | (399) | 135 | 207 |
Deferred tax adjustment for enacted rate change | 0 | 397 | 0 |
Total income tax expense | $ 1,314 | $ 3,626 | $ 2,553 |
Income Taxes (Schedule of Incom
Income Taxes (Schedule of Income Tax Reconciliation) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Statutory federal corporate tax amount | $ 2,166 | $ 3,880 | $ 3,034 |
Tax-exempt interest (income) | (301) | (417) | (387) |
Officer insurance (income) loss | 13 | (92) | 15 |
Net tax credits | (605) | (165) | (126) |
Corporate tax rate change | 0 | 397 | 0 |
Other, net | 41 | 23 | 17 |
Total income tax expense | $ 1,314 | $ 3,626 | $ 2,553 |
Effective income tax rate | 12.74% | 31.77% | 28.62% |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense | $ 518 | $ 382 | $ 314 |
Grant date fair value of vested Restricted Stock | 415 | 375 | |
Vest date fair value of vested Restricted Stock | 473 | $ 398 | |
Unrecognized compensation cost related to unvested Restricted Stock | $ 106 | ||
Weighted-average period for unrecognized compensation cost to be recognized | 1 year | ||
Restricted Stock [Member] | Outside Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting service period of grants | 9 months | ||
Restricted Stock [Member] | Executive Officers [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting service period of grants | 3 years | ||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 1 year |
Stock-Based Compensation (Restr
Stock-Based Compensation (Restricted Stock Activity) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Shares, Nonvested, beginning of period | 14,401 | ||
Shares, Nonvested, end of period | 16,701 | 14,401 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Shares, Nonvested, beginning of period | 14,401 | 14,901 | 14,401 |
Shares, Granted | 16,950 | 14,650 | 14,650 |
Shares, Vested | (14,609) | (14,493) | (13,196) |
Shares, Forfeited | (41) | (657) | (954) |
Shares, Nonvested, end of period | 16,701 | 14,401 | 14,901 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Weighted Average Grant Date Fair Value, Nonvested, beginning of period (in USD per share) | $ 24.68 | $ 23.05 | $ 22.98 |
Weighted Average Grant Date Fair Value, Granted (in USD per share) | 32.84 | 27.46 | 23.07 |
Weighted Average Grant Date Fair Value, Vested (in USD per share) | 28.38 | 25.90 | 23 |
Weighted Average Grant Date Fair Value, Forfeited (in USD per share) | 25.50 | 23 | 23 |
Weighted Average Grant Date Fair Value, Nonvested, end of period (in USD per share) | $ 29.72 | $ 24.68 | $ 23.05 |
Employee Benefits (Details)
Employee Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Contribution Plan [Line Items] | |||
Matched percentage by employer | 50.00% | ||
Maximum employee percentage of deferred salary matched by employer | 6.00% | ||
Non-elective safe-harbor contribution received each December 31st | 3.00% | ||
Employer contributions | $ 1,000 | $ 1,000 | $ 990 |
Maximum age benefit could be reduced or forfeited | 65 years | ||
Supplemental income benefit liability | $ 49 | 56 | |
Supplemental income benefit expense | $ 29 | $ 29 | $ 29 |
Minimum [Member] | |||
Defined Contribution Plan [Line Items] | |||
Non-elective safe-harbor contribution received each December 31st | 1.00% | ||
Maximum [Member] | |||
Defined Contribution Plan [Line Items] | |||
Non-elective safe-harbor contribution received each December 31st | 10.00% |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Commitments and Contingencies Disclosure [Abstract] | ||
Daily average required reserve balance | $ 1,600 | $ 1,500 |
Required compensating balance on deposit | $ 250 | $ 250 |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Narrative) (Details) - Interest Rate Swap [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Agreement related to the outstanding trust preferred capital notes, date | Dec. 4, 2008 | |
Agreement effective, date | Dec. 1, 2008 | |
Notional amount of derivatives | $ 7,000,000 | |
Agreement expiration date | Dec. 1, 2016 | |
Fixed interest rate of derivative | 2.85% | |
Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Amount of Gain (Loss) Recognized in Income | $ 149,000 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities (Effect of the Derivative Instrument on the Consolidated Balance Sheet, Consolidated Statements of Income) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Amount of Gain (Loss) Recognized in Income | $ 149 |
Transactions with Directors a_2
Transactions with Directors and Officers (Details) - Directors, Principal Officers, and Other Related Parties [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transaction [Line Items] | ||
Aggregate balance of loans to directors, principal officers, and their related parties | $ 4.1 | $ 4.1 |
Total principal additions | 5.2 | |
Total principal payments | 5.2 | |
Aggregate balance of deposits from directors, principal officers and their related parties | $ 21.2 | $ 19.4 |
Capital Requirements (Schedule
Capital Requirements (Schedule of Capital Requirements) (Details) - The Bank [Member] - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Equity Tier 1 Capital | $ 85,763 | $ 80,150 |
Common Equity Tier One Capital to Risk Weighted Assets | 13.99% | 14.08% |
Common Equity Tier One Capital Required for Capital Adequacy | $ 27,596 | $ 25,622 |
Common Equity Tier One Capital For Capital Adequacy To Risk Weighted Assets | 4.50% | 4.50% |
Common Equity Tier One Capital Required to be Well-Capitalized | $ 39,861 | $ 37,009 |
Common Equity Tier One Capital Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | 6.50% |
Capital [Abstract] | ||
Total Capital to Risk Weighted Assets, Actual, Amount | $ 91,237 | $ 84,583 |
Total Capital to Risk Weighted Assets, Minimum Capital Requirement, Amount | 49,060 | 45,550 |
Total Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 61,325 | 56,938 |
Tier One Risk Based Capital [Abstract] | ||
Tier 1 Capital Risk Weighted Assets, Actual, Amount | 85,763 | 80,150 |
Tier 1 Capital Risk Weighted Assets, Minimum Capital Requirement, Amount | 36,795 | 34,163 |
Tier 1 Capital Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 49,060 | 45,550 |
Tier One Leverage Capital [Abstract] | ||
Tier 1 Capital to Average Assets, Actual, Amount | 85,763 | 80,150 |
Tier 1 Capital to Average Assets, Minimum Capital Requirement, Amount | 31,424 | 29,511 |
Tier 1 Capital to Average Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 39,280 | $ 36,889 |
Risk Based Ratios [Abstract] | ||
Total Capital to Risk Weighted Assets, Actual, Ratio | 14.88% | 14.86% |
Total Capital to Risk Weighted Assets, Minimum Capital Requirement, Ratio | 8.00% | 8.00% |
Total Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 Capital Risk Weighted Assets, Actual, Ratio | 13.99% | 14.08% |
Tier 1 Capital Risk Weighted Assets, Minimum Capital Requirement, Ratio | 6.00% | 6.00% |
Tier 1 Capital Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 Capital to Average Assets, Actual, Ratio | 10.92% | 10.86% |
Tier 1 Capital to Average Assets, Minimum Capital Requirement, Ratio | 4.00% | 4.00% |
Tier 1 Capital to Average Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Restrictions On Dividends, Lo_2
Restrictions On Dividends, Loans, and Advances (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | |
Number of years used for undistributed net income of the Bank | 3 years |
Retained earnings available for the payment of dividends | $ 11.8 |
Restricted net assets | 72.4 |
Funds available for loans or advances | $ 9.1 |
Dividend Investment Plan (Detai
Dividend Investment Plan (Details) | Dec. 31, 2015 |
Dividend Investment Plan [Abstract] | |
Percentage of fair market value | 95.00% |
Financial Instruments with Of_3
Financial Instruments with Off-Balance-Sheet Risk (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Commitments to extend credit | $ 21,616 | $ 3,959 |
Unfunded commitments under lines of credit | 105,902 | 108,483 |
Commercial and standby letters of credit | 6,380 | $ 8,437 |
Collateralized Letters Of Credit Outstanding | 5,500 | |
Excess of insurance limits held in cash accounts | $ 1,600 |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disaggregation of Revenue [Line Items] | |||||||||||||||
Other service charges and fees | $ 4,173 | $ 3,878 | $ 3,713 | ||||||||||||
(Loss) on the sale and disposal of bank premises and equipment | (3) | (12) | (10) | ||||||||||||
Gain (loss) on sale of securities | 17 | (10) | 98 | ||||||||||||
Other operating income | 114 | 463 | 285 | ||||||||||||
Total noninterest income | $ 1,609 | $ 1,804 | $ 1,665 | $ 1,801 | $ 1,892 | $ 1,617 | $ 1,598 | $ 1,673 | $ 1,609 | $ 1,687 | $ 1,738 | $ 1,635 | 6,879 | 6,780 | 6,669 |
Trust asset management fees | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Revenue from contract with customer | 1,360 | 1,238 | 1,356 | ||||||||||||
Overdrawn account fees | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Revenue from contract with customer | 995 | 999 | 1,003 | ||||||||||||
Monthly and other service charges | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Revenue from contract with customer | 223 | 224 | 224 | ||||||||||||
Interchange fees | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Revenue from contract with customer | 361 | 331 | 296 | ||||||||||||
ATM fees | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Revenue from contract with customer | 2,240 | 2,046 | 2,056 | ||||||||||||
Brokerage commissions (1) | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Other service charges and fees | 831 | 865 | 744 | ||||||||||||
Other charges and fees | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Revenue from contract with customer | 671 | 583 | 565 | ||||||||||||
Other service charges and fees | 741 | 636 | 617 | ||||||||||||
Other operating income | |||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||
Revenue from contract with customer | $ 153 | $ 190 | $ 159 |
Quarterly Condensed Statement_3
Quarterly Condensed Statements of Income (Schedule of Quarterly Condensed Statements of Income) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||
Total interest and dividend income | $ 8,323 | $ 8,131 | $ 7,994 | $ 7,475 | $ 7,323 | $ 7,458 | $ 7,004 | $ 6,566 | $ 6,443 | $ 6,279 | $ 6,642 | $ 6,421 | $ 31,923 | $ 28,351 | $ 25,785 |
Net interest income after (recovery of) loan losses | 6,983 | 7,286 | 7,518 | 6,844 | 6,838 | 7,109 | 6,985 | 6,890 | 6,364 | 6,162 | 6,345 | 6,035 | 28,631 | 27,822 | 24,906 |
Noninterest income | 1,609 | 1,804 | 1,665 | 1,801 | 1,892 | 1,617 | 1,598 | 1,673 | 1,609 | 1,687 | 1,738 | 1,635 | 6,879 | 6,780 | 6,669 |
Noninterest expenses | 6,089 | 7,310 | 6,166 | 5,630 | 5,823 | 5,909 | 5,747 | 5,711 | 5,395 | 5,871 | 5,832 | 5,554 | 25,195 | 23,190 | 22,652 |
Income before income taxes | 2,503 | 1,780 | 3,017 | 3,015 | 2,907 | 2,817 | 2,836 | 2,852 | 2,578 | 1,978 | 2,251 | 2,116 | 10,315 | 11,412 | 8,923 |
Net income | $ 2,081 | $ 1,860 | $ 2,521 | $ 2,539 | $ 1,710 | $ 2,007 | $ 2,027 | $ 2,042 | $ 1,805 | $ 1,430 | $ 1,610 | $ 1,525 | $ 9,001 | $ 7,786 | $ 6,370 |
Net income per common share, basic (in US dollars per share) | $ 0.60 | $ 0.54 | $ 0.73 | $ 0.73 | $ 0.49 | $ 0.58 | $ 0.58 | $ 0.59 | $ 0.52 | $ 0.40 | $ 0.46 | $ 0.43 | $ 2.60 | $ 2.24 | $ 1.81 |
Net income per common share, diluted (in US dollars per share) | 0.60 | 0.54 | 0.73 | 0.73 | 0.49 | 0.58 | 0.58 | 0.59 | 0.52 | 0.40 | 0.46 | 0.43 | 2.60 | 2.24 | 1.81 |
Dividends per common share (in USD per share) | $ 0.24 | $ 0.24 | $ 0.23 | $ 0.23 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.94 | $ 0.88 | $ 0.82 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 144,298 | $ 132,566 |
Total liabilities at fair value | 0 | 0 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 144,298 | 132,023 |
Total liabilities at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 543 |
Total liabilities at fair value | 0 | 0 |
Obligations of U.S. government corporations and agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 21,731 | 21,520 |
Obligations of U.S. government corporations and agencies [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Obligations of U.S. government corporations and agencies [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 21,731 | 21,520 |
Obligations of U.S. government corporations and agencies [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 76,483 | 61,244 |
Mortgage-backed securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Mortgage-backed securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 76,483 | 61,244 |
Mortgage-backed securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Obligations of states and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 46,084 | 49,802 |
Obligations of states and political subdivisions [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Obligations of states and political subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 46,084 | 49,259 |
Obligations of states and political subdivisions [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 0 | $ 543 |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Measurements (Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Significant Unobservable Inputs (Level 3) [Member] - Obligations of states and political subdivisions [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 543 | $ 614 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (543) | (71) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 0 | $ 543 |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements for Certain Financial Assets) (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative information about level 3 nonrecurring basis | 8.00% | 7.00% |
Present value of cash flows discount rate | 5.00% | 5.00% |
Other Real Estate Owned [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative information about level 3 nonrecurring basis | 6.00% | 6.00% |
Nonrecurring [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative information about level 3 nonrecurring basis | 12.00% | 12.00% |
Present value of cash flows discount rate | 6.00% | 10.00% |
Nonrecurring [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative information about level 3 nonrecurring basis | 6.00% | 6.00% |
Nonrecurring [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative information about level 3 nonrecurring basis | 0.00% | 6.00% |
Present value of cash flows discount rate | 4.00% | 4.00% |
Nonrecurring [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative information about level 3 nonrecurring basis | 6.00% | 6.00% |
Fair Value Measurements (Fina_2
Fair Value Measurements (Financial and Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 106 | $ 106 |
Nonrecurring [Member] | Financial Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,598 | 2,248 |
Nonrecurring [Member] | Financial Assets [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Nonrecurring [Member] | Financial Assets [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Nonrecurring [Member] | Financial Assets [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,598 | 2,248 |
Nonrecurring [Member] | Nonfinancial Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 106 | 106 |
Nonrecurring [Member] | Nonfinancial Assets [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Nonfinancial Assets [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Nonfinancial Assets [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 106 | $ 106 |
Fair Value Measurements (Compan
Fair Value Measurements (Company's Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financial Assets: | ||
Securities available for sale | $ 144,298 | $ 132,566 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 18,353 | 35,848 |
Securities available for sale | 0 | 0 |
Restricted Investments | 0 | 0 |
Loans, net | 0 | 0 |
Bank owned life insurance | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial Liabilities: | ||
Deposits | 0 | |
Federal funds purchased | 0 | |
Accrued interest payable | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 0 | 0 |
Securities available for sale | 144,298 | 132,023 |
Restricted Investments | 1,170 | 1,107 |
Loans, net | 0 | 0 |
Bank owned life insurance | 447 | 1,955 |
Accrued interest receivable | 2,222 | 486 |
Financial Liabilities: | ||
Deposits | 703,323 | 662,696 |
Federal funds purchased | 1,871 | |
Accrued interest payable | 101 | 44 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 0 | 0 |
Securities available for sale | 0 | 543 |
Restricted Investments | 0 | 0 |
Loans, net | 592,566 | 559,665 |
Bank owned life insurance | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial Liabilities: | ||
Deposits | 0 | 0 |
Federal funds purchased | 0 | |
Accrued interest payable | 0 | 0 |
Carrying Amount [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 18,353 | 35,848 |
Securities available for sale | 144,298 | 132,566 |
Restricted Investments | 1,170 | 1,107 |
Loans, net | 601,371 | 564,406 |
Bank owned life insurance | 447 | 1,955 |
Accrued interest receivable | 2,222 | 486 |
Financial Liabilities: | ||
Deposits | 703,104 | 663,414 |
Federal funds purchased | 1,871 | |
Accrued interest payable | 101 | 44 |
Fair Value [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 18,353 | 35,848 |
Securities available for sale | 144,298 | 132,566 |
Restricted Investments | 1,170 | 1,107 |
Loans, net | 592,566 | 559,665 |
Bank owned life insurance | 447 | 1,955 |
Accrued interest receivable | 2,222 | 486 |
Financial Liabilities: | ||
Deposits | 703,323 | 662,696 |
Federal funds purchased | 1,871 | |
Accrued interest payable | $ 101 | $ 44 |
Change in Accumulated Other C_3
Change in Accumulated Other Comprehensive Income (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassifications from other comprehensive (loss) income | $ 17 | $ (3) | $ 98 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassifications from other comprehensive (loss) income | 17 | (10) | 98 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 4 | (4) | 33 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassifications from other comprehensive (loss) income | $ 0 | 7 | $ 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax | $ 2 |
Change in Accumulated Other C_4
Change in Accumulated Other Comprehensive Income (Changes to Accumulated Other Comprehensive Income By Components) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] [Roll Forward] | |||
Beginning balance | $ 310 | $ (24) | $ 1,051 |
Other comprehensive (loss) income before reclassifications | (2,341) | 426 | (1,531) |
Reclassifications from other comprehensive (loss) income | (17) | 3 | (98) |
Reclassification of stranded tax effects from change in tax rate | 0 | 51 | 0 |
Tax effect of current period changes | 495 | (146) | 554 |
Total other comprehensive (loss) income | (1,863) | 283 | (1,075) |
Total other comprehensive income (loss), Including tax cut and jobs act reclassification, net of tax | 334 | ||
Ending balance | (1,553) | 310 | (24) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] [Roll Forward] | |||
Beginning balance | 266 | (63) | 1,012 |
Other comprehensive (loss) income before reclassifications | (2,341) | 422 | (1,531) |
Reclassifications from other comprehensive (loss) income | (17) | 10 | (98) |
Reclassification of stranded tax effects from change in tax rate | 0 | 44 | 0 |
Tax effect of current period changes | 495 | (147) | 554 |
Total other comprehensive (loss) income | (1,863) | 329 | (1,075) |
Ending balance | (1,597) | 266 | (63) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] [Roll Forward] | |||
Beginning balance | 44 | 39 | 39 |
Other comprehensive (loss) income before reclassifications | 0 | 4 | 0 |
Reclassifications from other comprehensive (loss) income | 0 | (7) | 0 |
Reclassification of stranded tax effects from change in tax rate | 0 | 7 | 0 |
Tax effect of current period changes | 0 | 1 | 0 |
Total other comprehensive (loss) income | 0 | 5 | 0 |
Ending balance | $ 44 | $ 44 | $ 39 |
Condensed Financial Informati_3
Condensed Financial Information - Parent Company Only (Schedule of Condensed Balance Sheets) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||||
Loans, net of allowance | $ 601,371 | $ 564,406 | ||
Other assets | 15,236 | 12,139 | ||
Total assets | 799,617 | 765,751 | ||
Liabilities and Shareholders’ Equity | ||||
Total liabilities | 712,018 | 681,934 | ||
Stockholders' Equity Attributable to Parent [Abstract] | ||||
Preferred stock | 0 | 0 | ||
Common stock issued | 8,573 | 8,587 | ||
Surplus | 11,992 | 12,075 | ||
Retained earnings | 68,587 | 62,845 | ||
Accumulated other comprehensive (loss) income | (1,553) | 310 | $ (24) | $ 1,051 |
Total shareholders’ equity | 87,599 | 83,817 | $ 79,416 | $ 78,221 |
Total liabilities and shareholders’ equity | 799,617 | 765,751 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash held in subsidiary bank | 402 | 426 | ||
Loans, net of allowance | 2,896 | 2,825 | ||
Investment in subsidiaries, at cost, plus undistributed net income | 84,210 | 80,459 | ||
Other assets | 91 | 107 | ||
Total assets | 87,599 | 83,817 | ||
Liabilities and Shareholders’ Equity | ||||
Total liabilities | 0 | 0 | ||
Stockholders' Equity Attributable to Parent [Abstract] | ||||
Preferred stock | 0 | 0 | ||
Common stock issued | 8,573 | 8,587 | ||
Surplus | 11,992 | 12,075 | ||
Retained earnings | 68,587 | 62,845 | ||
Accumulated other comprehensive (loss) income | (1,553) | 310 | ||
Total shareholders’ equity | 87,599 | 83,817 | ||
Total liabilities and shareholders’ equity | $ 87,599 | $ 83,817 |
Condensed Financial Informati_4
Condensed Financial Information - Parent Company Only (Schedule of Condensed Income Statement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest and Dividend Income, Operating [Abstract] | |||||||||||||||
Interest and fees on loans | $ 27,890 | $ 24,821 | $ 23,037 | ||||||||||||
Interest Expense [Abstract] | |||||||||||||||
Interest expense on borrowings | 0 | 57 | 136 | ||||||||||||
Income Tax (Benefit) | 1,314 | 3,626 | 2,553 | ||||||||||||
Net income | $ 2,081 | $ 1,860 | $ 2,521 | $ 2,539 | $ 1,710 | $ 2,007 | $ 2,027 | $ 2,042 | $ 1,805 | $ 1,430 | $ 1,610 | $ 1,525 | 9,001 | 7,786 | 6,370 |
Comprehensive income | 7,138 | 8,069 | 5,295 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Interest and Dividend Income, Operating [Abstract] | |||||||||||||||
Dividends from subsidiary bank | 3,500 | 3,800 | 4,350 | ||||||||||||
Interest and fees on loans | 115 | 106 | 97 | ||||||||||||
Other interest and dividends | 0 | 0 | 2 | ||||||||||||
Other income | 0 | 0 | 149 | ||||||||||||
Total income | 3,615 | 3,906 | 4,598 | ||||||||||||
Interest Expense [Abstract] | |||||||||||||||
Interest expense on borrowings | 0 | 0 | 143 | ||||||||||||
Other operating expenses | 272 | 255 | 211 | ||||||||||||
Total expenses | 272 | 255 | 354 | ||||||||||||
Income before income tax (benefit) and equity in undistributed earnings of subsidiary bank | 3,343 | 3,651 | 4,244 | ||||||||||||
Income Tax (Benefit) | (45) | (58) | (36) | ||||||||||||
Income before equity in undistributed earnings of subsidiary bank | 3,388 | 3,709 | 4,280 | ||||||||||||
Equity in Undistributed Net Income of Subsidiary Bank | 5,613 | 4,077 | 2,090 | ||||||||||||
Net income | 9,001 | 7,786 | 6,370 | ||||||||||||
Comprehensive income | $ 7,138 | $ 8,069 | $ 5,295 |
Condensed Financial Informati_5
Condensed Financial Information - Parent Company Only (Schedule of Condensed Cash Flows Statement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities | |||||||||||||||
Net income | $ 2,081 | $ 1,860 | $ 2,521 | $ 2,539 | $ 1,710 | $ 2,007 | $ 2,027 | $ 2,042 | $ 1,805 | $ 1,430 | $ 1,610 | $ 1,525 | $ 9,001 | $ 7,786 | $ 6,370 |
Provision for (recovery of) loan losses | 777 | (625) | (188) | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||||||
Fair value adjustment on derivative contract | 0 | 0 | (149) | ||||||||||||
Changes in assets and liabilities: | |||||||||||||||
Decrease (increase) in other assets | 2,404 | 1,465 | 1,095 | ||||||||||||
(Decrease) in other liabilities | (11,477) | 1,141 | 2,732 | ||||||||||||
Net cash provided by operating activities | (1,523) | 9,367 | 9,700 | ||||||||||||
Cash Flows from Investing Activities | |||||||||||||||
Net (increase) decrease in loans | 40,545 | 51,401 | 21,995 | ||||||||||||
Net cash (used in) provided by investing activities | (53,659) | (64,287) | (26,383) | ||||||||||||
Cash Flows from Financing Activities | |||||||||||||||
Cash dividends paid | (2,776) | (2,652) | (2,354) | ||||||||||||
Issuance of common stock, employee benefit plan | 163 | 166 | 81 | ||||||||||||
Retirement of common stock | 1,261 | 1,564 | 2,143 | ||||||||||||
Net cash used in financing activities | 37,687 | 55,487 | 28,743 | ||||||||||||
(Decrease) increase in cash | (17,495) | 567 | 12,060 | ||||||||||||
Cash and Cash Equivalents | |||||||||||||||
Beginning | 35,848 | 35,281 | 23,221 | 35,848 | 35,281 | 23,221 | |||||||||
Ending | 18,353 | 35,848 | 35,281 | 18,353 | 35,848 | 35,281 | |||||||||
Parent Company [Member] | |||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||
Net income | 9,001 | 7,786 | 6,370 | ||||||||||||
Provision for (recovery of) loan losses | 2 | (2) | (2) | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||||||
Fair value adjustment on derivative contract | 0 | 0 | (149) | ||||||||||||
Stock-based compensation expense | 518 | 382 | 314 | ||||||||||||
Undistributed earnings of subsidiary bank | (5,613) | (4,077) | (2,090) | ||||||||||||
Changes in assets and liabilities: | |||||||||||||||
Decrease (increase) in other assets | (15) | 62 | 39 | ||||||||||||
(Decrease) in other liabilities | 0 | 0 | (568) | ||||||||||||
Net cash provided by operating activities | 3,923 | 4,027 | 3,836 | ||||||||||||
Cash Flows from Investing Activities | |||||||||||||||
Net (increase) decrease in loans | 73 | (58) | (62) | ||||||||||||
Net cash (used in) provided by investing activities | (73) | 58 | 62 | ||||||||||||
Cash Flows from Financing Activities | |||||||||||||||
Cash dividends paid | (2,776) | (2,652) | (2,354) | ||||||||||||
Issuance of common stock, employee benefit plan | 163 | 166 | 81 | ||||||||||||
Retirement of common stock | 1,261 | 1,564 | 2,143 | ||||||||||||
Net cash used in financing activities | (3,874) | (4,050) | (4,416) | ||||||||||||
(Decrease) increase in cash | (24) | 35 | (518) | ||||||||||||
Cash and Cash Equivalents | |||||||||||||||
Beginning | $ 426 | $ 391 | $ 909 | 426 | 391 | 909 | |||||||||
Ending | $ 402 | $ 426 | $ 391 | $ 402 | $ 426 | $ 391 |
Other Real Estate Owned Other R
Other Real Estate Owned Other Real Estate Owned Roll Forward (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Other Real Estate [Roll Forward] | ||
Balance, beginning | $ 106 | $ 370 |
Net loans transferred to OREO | 2,799 | 53 |
Sales | (2,799) | (317) |
Valuation adjustments | 0 | 0 |
Balance, ending | $ 106 | $ 106 |
Other Real Estate Owned Major C
Other Real Estate Owned Major Classifications of Other Real Estate Owned (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Real Estate Properties [Line Items] | |||
Other real estate, gross | $ 106 | $ 106 | |
Less valuation allowance | 0 | 0 | |
Total | 106 | 106 | $ 370 |
Construction And Farmland [Member] | |||
Real Estate Properties [Line Items] | |||
Other real estate, gross | 106 | 106 | |
Residential [Member] | |||
Real Estate Properties [Line Items] | |||
Other real estate, gross | 0 | 0 | |
Commercial Real Estate [Member] | |||
Real Estate Properties [Line Items] | |||
Other real estate, gross | $ 0 | $ 0 |
Other Real Estate Owned Narrati
Other Real Estate Owned Narrative (Details) $ in Thousands | Dec. 31, 2018USD ($)contract | Dec. 31, 2017USD ($)contract |
Receivables [Abstract] | ||
Mortgage Loans In Process Of Foreclosure Number | contract | 1 | 1 |
Mortgage Loans in Process of Foreclosure, Amount | $ | $ 71 | $ 4,100 |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Federal Home Loan Banks [Abstract] | ||
Amortization Method Qualified Affordable Housing Project Investments | $ 3,300,000 | $ 2,500,000 |
Qualified Affordable Housing Project Investments, Commitment | 1,900,000 | 1,948,000 |
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 196,000 | 172,000 |
Affordable Housing Tax Credits and Other Tax Benefits Expected to Be Received | 289,000 | |
Affordable Housing Tax Credits and Other Tax Benefits, Amount | $ 324,000 | $ 219,000 |