Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 09, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | OHIO VALLEY BANC CORP | |
Entity Central Index Key | 894,671 | |
Trading Symbol | ovbc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 4,665,765 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and noninterest-bearing deposits with banks | $ 13,864 | $ 9,475 |
Interest-bearing deposits with banks | 48,021 | 36,055 |
Total cash and cash equivalents | 61,885 | 45,530 |
Certificates of deposit in financial institutions | 1,670 | 1,715 |
Securities available for sale | 104,860 | 91,651 |
Securities held to maturity (estimated fair value: 2016 - $20,737; 2015 - $20,790) | 19,651 | 19,903 |
Restricted investments in bank stocks | 6,939 | 6,576 |
Total loans | 721,587 | 585,752 |
Less: Allowance for loan losses | (7,537) | (6,648) |
Net loans | 714,050 | 579,104 |
Premises and equipment, net | 12,484 | 10,404 |
Other real estate owned | 2,616 | 2,358 |
Accrued interest receivable | 2,247 | 1,819 |
Goodwill | 7,052 | 1,267 |
Bank owned life insurance and annuity assets | 29,199 | 28,352 |
Other assets | 7,577 | 7,606 |
Total assets | 970,230 | 796,285 |
LIABILITIES | ||
Noninterest-bearing deposits | 215,933 | 176,499 |
Interest-bearing deposits | 589,850 | 484,247 |
Total deposits | 805,783 | 660,746 |
Other borrowed funds | 35,665 | 23,946 |
Subordinated debentures | 8,500 | 8,500 |
Accrued liabilities | 14,494 | 12,623 |
Total liabilities | 864,442 | 705,815 |
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 6) | ||
SHAREHOLDERS’ EQUITY | ||
Common stock ($1.00 stated value per share, 10,000,000 shares authorized; 2016 - 5,325,504 shares issued; 2015 - 4,777,414 shares issued) | 5,326 | 4,777 |
Additional paid-in capital | 46,788 | 35,318 |
Retained earnings | 68,073 | 65,782 |
Accumulated other comprehensive income | 1,313 | 305 |
Treasury stock, at cost (659,739 shares) | (15,712) | (15,712) |
Total shareholders’ equity | 105,788 | 90,470 |
Total liabilities and shareholders’ equity | $ 970,230 | $ 796,285 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Securities held to maturity, fair value | $ 20,737 | $ 20,790 |
Common stock, stated value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 5,325,504 | 4,777,414 |
Treasury stock, shares (in shares) | 659,739 | 659,739 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest and dividend income: | ||||
Loans, including fees | $ 9,085 | $ 8,323 | $ 26,147 | $ 25,372 |
Securities | ||||
Taxable | 486 | 463 | 1,465 | 1,365 |
Tax exempt | 111 | 130 | 337 | 403 |
Dividends | 75 | 73 | 222 | 219 |
Other Interest | 67 | 27 | 336 | 150 |
9,824 | 9,016 | 28,507 | 27,509 | |
Interest expense: | ||||
Deposits | 597 | 569 | 1,605 | 1,659 |
Other borrowed funds | 190 | 119 | 462 | 360 |
Subordinated debentures | 52 | 43 | 149 | 126 |
839 | 731 | 2,216 | 2,145 | |
Net interest income | 8,985 | 8,285 | 26,291 | 25,364 |
Provision for loan losses | 1,708 | (11) | 2,328 | 710 |
Net interest income after provision for loan losses | 7,277 | 8,296 | 23,963 | 24,654 |
Noninterest income: | ||||
Service charges on deposit accounts | 575 | 415 | 1,414 | 1,161 |
Trust fees | 58 | 52 | 174 | 167 |
Income from bank owned life insurance and annuity assets | 175 | 172 | 575 | 486 |
Mortgage banking income | 44 | 77 | 162 | 191 |
Electronic refund check / deposit fees | 13 | 12 | 2,037 | 2,362 |
Debit / credit card interchange income | 653 | 604 | 1,864 | 1,769 |
Gain (loss) on other real estate owned | (8) | 60 | ||
Gain on sale of securities | 28 | 163 | ||
Other | 183 | 224 | 563 | 631 |
1,693 | 1,584 | 6,789 | 6,990 | |
Noninterest expense: | ||||
Salaries and employee benefits | 5,032 | 4,556 | 14,130 | 13,382 |
Occupancy | 466 | 404 | 1,300 | 1,194 |
Furniture and equipment | 285 | 192 | 671 | 564 |
Professional fees | 342 | 347 | 1,020 | 1,056 |
Marketing expense | 249 | 232 | 744 | 701 |
FDIC insurance | 81 | 144 | 378 | 442 |
Data processing | 380 | 323 | 1,069 | 1,053 |
Software | 368 | 304 | 962 | 813 |
Foreclosed assets | 61 | 74 | 247 | 171 |
Merger related expenses | 416 | 777 | ||
Other | 1,148 | 1,151 | 3,272 | 3,332 |
8,828 | 7,727 | 24,570 | 22,708 | |
Income before income taxes | 142 | 2,153 | 6,182 | 8,936 |
Provision for income taxes | (216) | 511 | 1,286 | 2,260 |
NET INCOME | $ 358 | $ 1,642 | $ 4,896 | $ 6,676 |
Earnings per share (in dollars per share) | $ 0.08 | $ 0.40 | $ 1.15 | $ 1.62 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net Income | $ 358 | $ 1,642 | $ 4,896 | $ 6,676 |
Other comprehensive income: | ||||
Change in unrealized gain on available for sale securities | 91 | 472 | 1,528 | (44) |
Reclassification adjustment for realized (gains) | (28) | (163) | ||
91 | 444 | 1,528 | (207) | |
Related tax (expense) benefit | (31) | (151) | (520) | 71 |
Total other comprehensive income (loss), net of tax | 60 | 293 | 1,008 | (136) |
Total comprehensive income | $ 418 | $ 1,935 | $ 5,904 | $ 6,540 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) $ in Thousands | USD ($)$ / shares |
Balance at beginning of period at Dec. 31, 2014 | $ 86,216 |
Net Income | 6,676 |
Other comprehensive income (loss), net of tax | (136) |
Acquisition – Milton Bancorp, Inc., 523,518 shares | |
Common stock issued to ESOP, 24,572 shares | |
Cash dividends | (2,801) |
Balance at end of period at Sep. 30, 2015 | $ 89,955 |
Cash dividends per share (in dollars per share) | $ / shares | $ 0.68 |
Balance at beginning of period at Jun. 30, 2015 | $ 88,885 |
Net Income | 1,642 |
Other comprehensive income (loss), net of tax | 293 |
Acquisition – Milton Bancorp, Inc., 523,518 shares | |
Common stock issued to ESOP, 24,572 shares | |
Cash dividends | (865) |
Balance at end of period at Sep. 30, 2015 | $ 89,955 |
Cash dividends per share (in dollars per share) | $ / shares | $ 0.21 |
Balance at beginning of period at Dec. 31, 2015 | $ 90,470 |
Net Income | 4,896 |
Other comprehensive income (loss), net of tax | 1,008 |
Acquisition – Milton Bancorp, Inc., 523,518 shares | 11,444 |
Common stock issued to ESOP, 24,572 shares | 575 |
Cash dividends | (2,605) |
Balance at end of period at Sep. 30, 2016 | $ 105,788 |
Cash dividends per share (in dollars per share) | $ / shares | $ 0.61 |
Balance at beginning of period at Jun. 30, 2016 | $ 94,796 |
Net Income | 358 |
Other comprehensive income (loss), net of tax | 60 |
Acquisition – Milton Bancorp, Inc., 523,518 shares | 11,444 |
Common stock issued to ESOP, 24,572 shares | |
Cash dividends | (870) |
Balance at end of period at Sep. 30, 2016 | $ 105,788 |
Cash dividends per share (in dollars per share) | $ / shares | $ 0.19 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Acquisition – Milton Bancorp, Inc., shares (in shares) | 523,518 | 523,518 |
Common stock issued to ESOP, shares (in shares) | 24,572 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Milton Bancorp, Inc [Member] | ||
Supplemental disclosure: | ||
Issuance of common stock for Milton Bancorp, Inc., acquisition | $ 11,444 | |
Net cash provided by operating activities: | 9,761 | 8,585 |
Net cash acquired from Milton Bancorp, Inc., acquisition | 1,686 | |
Proceeds from maturities of securities available for sale | 13,818 | 11,604 |
Purchases of securities available for sale | (17,691) | (25,150) |
Proceeds from maturities of securities held to maturity | 1,218 | 1,967 |
Purchases of securities held to maturity | (3,193) | (626) |
Proceeds from sale of available for sale securities | 10,550 | |
Proceeds from maturities of certificates of deposit in financial institutions | 490 | |
Purchases of certificates of deposit in financial institutions | (445) | (735) |
Proceeds from restricted investments in bank stocks | 1 | |
Net change in loans | (24,186) | 6,933 |
Proceeds from sale of other real estate owned | 593 | 487 |
Purchases of premises and equipment | (633) | (1,418) |
Net cash provided by (used in) investing activities | (28,342) | 3,612 |
Change in deposits | 25,822 | 24,634 |
Cash dividends | (2,605) | (2,801) |
Proceeds from Federal Home Loan Bank borrowings | 8,202 | 400 |
Repayment of Federal Home Loan Bank borrowings | (1,450) | (1,343) |
Change in other long-term borrowings | 5,000 | |
Change in other short-term borrowings | (33) | 96 |
Net cash provided by financing activities | 34,936 | 20,986 |
Change in cash and cash equivalents | 16,355 | 33,183 |
Cash and cash equivalents at beginning of period | 45,530 | 30,977 |
Cash and cash equivalents at end of period | 61,885 | 64,160 |
Cash paid for interest | 2,112 | 2,047 |
Cash paid for income taxes | 1,675 | 2,450 |
Transfers from loans to other real estate owned | 851 | 525 |
Other real estate owned sales financed by The Ohio Valley Bank Company | $ 316 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION : These interim financial statements are prepared by the Company without audit and reflect all adjustments of a normal recurring nature which, in the opinion of management, are necessary to present fairly the consolidated financial position of the Company at September 30, 2016, and its results of operations and cash flows for the periods presented. The results of operations for the nine months ended September 30, 2016 are not necessarily indicative of the operating results to be anticipated for the full fiscal year ending December 31, 2016. The accompanying consolidated financial statements do not purport to contain all the necessary financial disclosures required by U.S. generally accepted accounting principles (“US GAAP”) that might otherwise be necessary in the circumstances. The Annual Report of the Company for the year ended December 31, 2015 contains consolidated financial statements and related notes which should be read in conjunction with the accompanying consolidated financial statements. On August 5, 2016, the Company completed the merger of Milton Bancorp, Inc. ("Milton Bancorp") into Ohio Valley (“the Merger”). Immediately following the Merger, Milton Bancorp's wholly-owned subsidiary, The Milton Banking Company (“Milton Bank”), was merged with and into the Bank. Further information regarding the merger can be found within Note 2 – Business Combinations of this Form 10-Q. The consolidated financial statements for 2015 have been reclassified to conform to the presentation for 2016. These reclassifications had no effect on the net results of operations or shareholders’ equity. USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS: INDUSTRY SEGMENT INFORMATION: EARNINGS PER SHARE : NEW ACCOUNTING PRONOUNCEMENTS: In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities”. The update provides updated accounting and reporting requirements for both public and non-public entities. The most significant provisions that will impact the Company are: 1) equity securities available for sale will be measured at fair value, with the changes in fair value recognized in the income statement; 2) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments at amortized cost on the balance sheet; 3) utilization of the exit price notion when measuring the fair value of financial instruments for disclosure purposes; and 4) require separate presentation of both financial assets and liabilities by measurement category and form of financial asset on the balance sheet or accompanying notes to the financial statements. The update will be effective for interim and annual periods beginning after December 15, 2017, using a cumulative-effect adjustment to the balance sheet as of the beginning of the year of adoption. Early adoption is not permitted. Management is currently evaluating the impact of this update on its Consolidated Financial Statements. In February 2016, the FASB issued an update (ASU 2016-02, Leases) which will require lessees to record most leases on their balance sheet and recognize leasing expenses in the income statement. Operating leases, except for short-term leases that are subject to an accounting policy election, will be recorded on the balance sheet for lessees by establishing a lease liability and corresponding right-of-use asset. The guidance in this ASU will become effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. Management is currently evaluating the impact of this update on its Consolidated Financial Statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses”. ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted, for annual periods and interim periods within those annual periods, beginning after December 15, 2018. Management is currently evaluating the impact this update will have on the Company’s financial statements and results of operations. In August 2016, FASB issued ASU 2016-15, “Statement of Cash Flows” (Topic 230), Classification of Certain Cash Receipts and Cash Payments, which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic. The ASU's amendments add or clarify guidance on eight cash flow issues: ● Debt prepayment or debt extinguishment costs. ● Settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing. ● Contingent consideration payments made after a business combination. ● Proceeds from the settlement of insurance claims. ● Proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies. ● Distributions received from equity method investees. ● Beneficial interests in securitization transactions. ● Separately identifiable cash flows and application of the predominance principle. For public business entities, the guidance in the ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for all entities. Entities must apply the guidance retrospectively to all periods presented but may apply it prospectively from the earliest date practicable if retrospective application would be impracticable. Management is currently evaluating the impact of the adoption of this guidance on the Company's consolidated financial statements. |
Note 2 - Business Combinations
Note 2 - Business Combinations | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | NOTE 2 – BUSINESS COMBINATIONS As of the close of business on August 5, 2016, Ohio Valley completed its merger with Milton Bancorp pursuant to the terms of the Agreement and Plan of Merger dated as of January 7, 2016, by and between Ohio Valley and Milton Bancorp (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, Milton Bancorp was merged with and into Ohio Valley. Immediately following the Merger, Milton Bank was merged with and into the Bank. As a result of the Merger and in accordance with the terms of the Merger Agreement, each Milton Bancorp share was converted into the right to receive either 1,636 Ohio Valley common shares, no par value, or cash in the amount of $37,219, subject to certain allocation procedures set forth in the Merger Agreement pursuant to which 80% of the 400 outstanding Milton Bancorp common shares were converted into the right to receive Ohio Valley common shares and the remaining 20% of the outstanding Milton Bancorp common shares were converted into the right to receive cash. Each of the 1,237 Milton Bancorp preferred shares issued and outstanding were converted into the right to receive a cash payment in the amount of $3,600 per preferred share. The consideration paid for Milton Bancorp totaled $18,875, of which $11,444 was the market value of the Company’s common shares and $7,431 was cash. Ohio Valley financed part of the cash portion of the purchase price through $5,000 in borrowed funds. Milton Bank's results of operations were included in the Company's results beginning August 6, 2016. Through September 30, 2016, merger-related costs of $777 associated with the acquisition have been expensed, and the remaining merger-related costs will be expensed in future periods as incurred. Since the majority of merger costs have been incurred at September 30, 2016, the Company expects the remaining merger-related expenses to be immaterial. The fair value of the common shares issued as part of the consideration paid for Milton Bancorp was determined in the basis of the closing price of the Company's common shares on the acquisition date. After the Merger, the Company's assets totaled approximately $950 million and branches increased to 19 locations. Goodwill of $5,785 arising from the acquisition consisted largely of synergies from combining the operations of the companies. The following table summarizes the consideration paid for Milton Bancorp and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date: Consideration: Cash $ 7,431 Equity Instruments 11,444 Fair value of total consideration transferred $ 18,875 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 9,117 Securities 5,868 Restricted investments in bank stock 364 Loans 113,298 Premises and equipment 2,216 Other real estate owned 641 Bank owned life insurance 272 Other assets 520 Total assets acquired 132,296 Deposits 119,215 Other liabilities (9 ) Total liabilities assumed 119,206 Total identifiable net assets 13,090 Goodwill 5,785 $ 18,875 The fair value of net assets acquired reflect only the fair value adjustments to securities. We are continuing to evaluate the fair value adjustments associated with loans, premises and equipment, and time deposits, as well as the valuation of intangible assets related to core deposits. As such, the amounts presented in the table above are considered to be preliminary and are subject to change. The remaining purchase accounting adjustments are expected to be posted in the fourth quarter of 2016. Currently, management does not believe that purchase credit impaired loans acquired in the acquisition to be material. |
Note 3 - Fair Value of Financia
Note 3 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 3 – FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Level 2: Level 3: The following is a description of the Company’s valuation methodologies used to measure and disclose the fair values of its financial assets and liabilities on a recurring or nonrecurring basis: Securities: Impaired Loans: Other Real Estate Owned: Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with management’s own assumptions of fair value based on factors that include recent market data or industry-wide statistics. On an as-needed basis, the Company reviews the fair value of collateral, taking into consideration current market data, as well as all selling costs that typically approximate 10%. Assets and Liabilities Measured on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements at September 30, 2016 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government sponsored entity securities ---- $ 10,636 ---- Agency mortgage-backed securities, residential ---- 94,224 ---- Fair Value Measurements at December 31, 2015 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government sponsored entity securities ---- $ 8,965 ---- Agency mortgage-backed securities, residential ---- 82,686 ---- There were no transfers between Level 1 and Level 2 during 2016 or 2015. Assets and Liabilities Measured on a Nonrecurring Basis Assets and liabilities measured at fair value on a nonrecurring basis are summarized below: Fair Value Measurements at September 30, 2016, Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans: Commercial real estate: Owner-occupied ---- ---- $ 3,843 Nonowner-occupied ---- ---- 2,147 Commercial and industrial ---- ---- 298 Other real estate owned: Commercial real estate: Construction ---- ---- 1,147 Fair Value Measurements at December 31, 2015, Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans: Commercial real estate: Nonowner-occupied ---- ---- $ 2,473 Commercial and industrial ---- ---- 3,779 Other real estate owned: Commercial real estate: Construction ---- ---- 1,147 At September 30, 2016, the recorded investment of impaired loans measured for impairment using the fair value of collateral for collateral-dependent loans totaled $9,169, with a corresponding valuation allowance of $2,881, resulting in an increase of $819 in provision expense during the three months ended September 30, 2016, and an increase of $2,477 during the nine months ended September 30, 2016, with no additional charge-offs recognized. This is compared to an increase of $107 in provision expense during the three months ended September 30, 2015, and an increase of $94 in provision expense during the nine months ended September 30, 2015, with $1,782 in additional charge-offs recognized. At December 31, 2015, the recorded investment of impaired loans measured for impairment using the fair value of collateral for collateral-dependent loans totaled $7,811, with a corresponding valuation allowance of $1,559, resulting in an increase of $741 in provision expense during the year ended December 31, 2015, with $1,422 in additional charge-offs recognized. Other real estate owned that was measured at fair value less costs to sell at September 30, 2016 and December 31, 2015 had a net carrying amount of $1,147, which is made up of the outstanding balance of $2,217, net of a valuation allowance of $1,070 at December 31, 2015. There were no corresponding write downs during the three and nine months ended September 30, 2016 and 2015. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2016 and December 31, 2015: September 30, 2016 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate: Owner-occupied $ 3,843 Sales approach Adjustment to comparables 0% to 45% 15.99 % Cost approach Adjustment to comparables 0% to 29.5% 14.76 % Nonowner-occupied 2,147 Sales approach Adjustment to comparables 0% to 12.5% 6.9 % Commercial and industrial 298 Sales approach Adjustment to comparables 0.9% to 9.7% 5.2 % Other real estate owned: Commercial real estate: Construction 1,147 Sales approach Adjustment to comparables 0% to 35% 15.2 % December 31, 2015 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate: Nonowner-occupied $ 2,473 Sales approach Adjustment to comparables 0% to 12.5% 5.7 % Commercial and industrial 3,779 Sales approach Adjustment to comparables 0.9% to 30% 14.3 % Other real estate owned: Commercial real estate: Construction 1,147 Sales approach Adjustment to comparables 0% to 35% 15.2 % The carrying amounts and estimated fair values of financial instruments at September 30, 2016 and December 31, 2015 are as follows: Fair Value Measurements at September 30, 2016 Using: Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 61,885 $ 61,885 $ ---- $ ---- $ 61,885 Certificates of deposit in financial institutions 1,670 ---- 1,670 ---- 1,670 Securities available for sale 104,860 ---- 104,860 ---- 104,860 Securities held to maturity 19,651 ---- 10,356 10,381 20,737 Restricted investments in bank stocks 6,939 N/A N/A N/A N/A Loans, net 714,050 ---- ---- 722,276 722,276 Accrued interest receivable 2,247 ---- 361 1,886 2,247 Financial liabilities: Deposits 805,783 215,933 590,489 ---- 806,422 Other borrowed funds 35,665 ---- 35,990 ---- 35,990 Subordinated debentures 8,500 ---- 5,801 ---- 5,801 Accrued interest payable 517 2 515 ---- 517 Fair Value Measurements at December 31, 2015 Using: Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 45,530 $ 45,530 $ ---- $ ---- $ 45,530 Certificates of deposit in financial institutions 1,715 ---- 1,715 ---- 1,715 Securities available for sale 91,651 ---- 91,651 ---- 91,651 Securities held to maturity 19,903 ---- 9,814 10,976 20,790 Federal Home Loan Bank and Federal Reserve Bank stock 6,576 N/A N/A N/A N/A Loans, net 579,104 ---- ---- 582,427 582,427 Accrued interest receivable 1,819 ---- 224 1,595 1,819 Financial liabilities: Deposits 660,746 176,499 484,636 ---- 661,135 Other borrowed funds 23,946 ---- 23,672 ---- 23,672 Subordinated debentures 8,500 ---- 5,368 ---- 5,368 Accrued interest payable 449 4 445 ---- 449 The methods and assumptions, not previously presented, used to estimate fair values are described as follows: Cash and Cash Equivalents Certificates of Deposit in Financial Institutions Securities Held to Maturity: Restricted Investments in Bank Stocks Loans Deposit Liabilities Other Borrowed Funds Subordinated Debentures Accrued Interest Receivable and Payable , resulting in a classification that is consistent with the earning assets and interest-bearing liabilities with which it is associated. Off-balance Sheet Instruments Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | N OTE 4 – SECURITIES The following table summarizes the amortized cost and fair value of securities available for sale and securities held to maturity at September 30, 2016 and December 31, 2015 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses: Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2016 U.S. Government sponsored entity securities $ 10,627 $ 9 $ ---- $ 10,636 Agency mortgage-backed securities, residential 92,243 1,986 (5 ) 94,224 Total securities $ 102,870 $ 1,995 $ (5 ) $ 104,860 December 31, 2015 U.S. Government sponsored entity securities $ 9,011 $ ---- $ (46 ) $ 8,965 Agency mortgage-backed securities, residential 82,178 981 (473 ) 82,686 Total securities $ 91,189 $ 981 $ (519 ) $ 91,651 Securities Held to Maturity Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value September 30, 2016 Obligations of states and political subdivisions $ 19,646 $ 1,090 $ (4 ) $ 20,732 Agency mortgage-backed securities, residential 5 ---- ---- 5 Total securities $ 19,651 $ 1,090 $ (4 ) $ 20,737 December 31, 2015 Obligations of states and political subdivisions $ 19,898 $ 892 $ (5 ) $ 20,785 Agency mortgage-backed securities, residential 5 ---- ---- 5 Total securities $ 19,903 $ 892 $ (5 ) $ 20,790 The amortized cost and estimated fair value of debt securities at September 30, 2016, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers may have the right to call or prepay the debt obligations prior to their contractual maturities. Securities not due at a single maturity are shown separately. Available for Sale Held to Maturity Debt Securities: Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in one year or less $ 4,002 $ 4,003 $ 395 $ 398 Due in over one to five years 6,625 6,633 7,160 7,540 Due in over five to ten years ---- ---- 9,800 10,471 Due after ten years ---- ---- 2,291 2,323 Agency mortgage-backed securities, residential 92,243 94,224 5 5 Total debt securities $ 102,870 $ 104,860 $ 19,651 $ 20,737 The following table summarizes securities with unrealized losses at September 30, 2016 and December 31, 2015, aggregated by major security type and length of time in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total September 30, 2016 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale Agency mortgage-backed securities, residential $ 1,067 $ (5 ) $ ---- $ ---- $ 1,067 $ (5 ) Total available for sale $ 1,067 $ (5 ) $ ---- $ ---- $ 1,067 $ (5 ) Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Held to Maturity Obligations of states and political subdivisions $ 587 $ (4 ) $ ---- $ ---- $ 587 $ (4 ) Total held to maturity $ 587 $ (4 ) $ ---- $ ---- $ 587 $ (4 ) Less Than 12 Months 12 Months or More Total December 31, 2015 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale U.S. Government sponsored entity securities $ 7,964 $ (46 ) $ ---- $ ---- $ 7,964 $ (46 ) Agency mortgage-backed securities, residential 42,112 (407 ) 3,645 (66 ) 45,757 (473 ) Total available for sale $ 50,076 $ (453 ) $ 3,645 $ (66 ) $ 53,721 $ (519 ) Less Than 12 Months 12 Months or More Total Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Securities Held to Maturity Obligations of states and political subdivisions $ 995 $ (5 ) $ ---- $ ---- $ 995 $ (5 ) Total held to maturity $ 995 $ (5 ) $ ---- $ ---- $ 995 $ (5 ) There were no sales of investment securities during the three and nine months ended September 30, 2016. During the three and nine months ended September 30, 2015, the Company had proceeds of $10,550 pertaining to securities sales on available for sale securities with gross gains recognized of $28 and $163 for both periods. Unrealized losses on the Company’s debt securities have not been recognized into income because the issuers’ securities are of high credit quality as of September 30, 2016, and management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery. Management does not believe any individual unrealized loss at September 30, 2016 and December 31, 2015 represents an other-than-temporary impairment. |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | N OTE 5 – LOANS AND ALLOWANCE FOR LOAN LOSSES Loans are comprised of the following: September 30, December 31, 2016 2015 Residential real estate $ 273,335 $ 223,875 Commercial real estate: Owner-occupied 82,204 73,458 Nonowner-occupied 98,923 72,002 Construction 34,494 23,852 Commercial and industrial 97,192 81,936 Consumer: Automobile 58,359 44,566 Home equity 20,159 20,841 Other 56,921 45,222 721,587 585,752 Less: Allowance for loan losses 7,537 6,648 Loans, net $ 714,050 $ 579,104 The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2016 and 2015: September 30, 2016 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 906 $ 3,464 $ 1,416 $ 1,148 $ 6,934 Provision for loan losses 228 802 149 529 1,708 Loans charged off (151 ) (11 ) (587 ) (704 ) (1,453 ) Recoveries 30 19 1 298 348 Total ending allowance balance $ 1,013 $ 4,274 $ 979 $ 1,271 $ 7,537 September 30, 2015 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 1,230 $ 2,795 $ 2,287 $ 1,132 $ 7,444 Provision for loan losses (166 ) (214 ) 205 164 (11 ) Loans charged-off (40 ) (596 ) ---- (309 ) (945 ) Recoveries 219 15 11 169 414 Total ending allowance balance $ 1,243 $ 2,000 $ 2,503 $ 1,156 $ 6,902 The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2016 and 2015: September 30, 2016 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 1,087 $ 1,959 $ 2,589 $ 1,013 $ 6,648 Provision for loan losses 10 2,264 (1,035 ) 1,089 2,328 Loans charged off (322 ) (63 ) (587 ) (1,540 ) (2,512 ) Recoveries 238 114 12 709 1,073 Total ending allowance balance $ 1,013 $ 4,274 $ 979 $ 1,271 $ 7,537 September 30, 2015 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 1,426 $ 4,195 $ 1,602 $ 1,111 $ 8,334 Provision for loan losses (256 ) (272 ) 697 541 710 Loans charged-off (263 ) (1,970 ) (24 ) (1,016 ) (3,273 ) Recoveries 336 47 228 520 1,131 Total ending allowance balance $ 1,243 $ 2,000 $ 2,503 $ 1,156 $ 6,902 The following table presents the balance in the allowance for loan losses and the recorded investment of loans by portfolio segment and based on impairment method as of September 30, 2016 and December 31, 2015: September 30, 2016 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ ---- $ 2,705 $ 245 $ 2 $ 2,952 Collectively evaluated for impairment 1,013 1,569 734 1,269 4,585 Total ending allowance balance $ 1,013 $ 4,274 $ 979 $ 1,271 $ 7,537 Loans: Loans individually evaluated for impairment $ 724 $ 13,391 $ 9,099 $ 216 $ 23,430 Loans collectively evaluated for impairment 272,611 202,230 88,093 135,223 698,157 Total ending loans balance $ 273,335 $ 215,621 $ 97,192 $ 135,439 $ 721,587 December 31, 2015 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ ---- $ 311 $ 1,850 $ 3 $ 2,164 Collectively evaluated for impairment 1,087 1,648 739 1,010 4,484 Total ending allowance balance $ 1,087 $ 1,959 $ 2,589 $ 1,013 $ 6,648 Loans: Loans individually evaluated for impairment $ 1,001 $ 7,318 $ 8,691 $ 218 $ 17,228 Loans collectively evaluated for impairment 222,874 161,994 73,245 110,411 568,524 Total ending loans balance $ 223,875 $ 169,312 $ 81,936 $ 110,629 $ 585,752 The following tables present information related to loans individually evaluated for impairment by class of loans as of September 30, 2016 and December 31, 2015: September 30, 2016 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With an allowance recorded: Commercial real estate: Owner-occupied $ 5,918 $ 5,918 $ 2,603 Nonowner-occupied 387 387 102 Commercial and industrial 391 391 245 Consumer: Home equity 216 216 2 With no related allowance recorded: Residential real estate 724 724 ---- Commercial real estate: Owner-occupied 3,291 2,744 ---- Nonowner-occupied 5,614 3,798 ---- Construction 641 544 ---- Commercial and industrial 8,708 8,708 ---- Total $ 25,890 $ 23,430 $ 2,952 December 31, 2015 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With an allowance recorded: Commercial real estate: Owner-occupied $ 204 $ 204 $ 204 Nonowner-occupied 396 396 107 Commercial and industrial 4,355 4,355 1,850 Consumer: Home equity 218 218 3 With no related allowance recorded: Residential real estate 1,001 1,001 ---- Commercial real estate: Owner-occupied 3,812 3,265 ---- Nonowner-occupied 5,178 2,773 ---- Construction 680 680 ---- Commercial and industrial 4,336 4,336 ---- Total $ 20,180 $ 17,228 $ 2,164 The following tables present information related to loans individually evaluated for impairment by class of loans for the three and nine months ended September 30, 2016 and 2015: Three months ended September 30, 2016 Nine months ended September 30, 2016 Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized With an allowance recorded: Commercial real estate: Owner-occupied $ 5,427 $ 94 $ 94 $ 2,815 $ 241 $ 241 Nonowner-occupied 389 5 5 392 15 15 Commercial and industrial 391 ---- ---- 391 ---- ---- Consumer: Home equity 217 1 1 218 5 5 With no related allowance recorded: Residential real estate 725 4 4 728 20 20 Commercial real estate: Owner-occupied 2,797 37 37 2,879 120 120 Nonowner-occupied 3,680 33 33 3,557 75 75 Construction 363 11 11 521 108 108 Commercial and industrial 8,575 103 103 8,234 290 290 Total $ 22,564 $ 288 $ 288 $ 19,735 $ 874 $ 874 Three months ended September 30, 2015 Nine months ended September 30, 2015 Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized With an allowance recorded: Residential real estate $ 895 $ ---- $ ---- $ 895 $ ---- $ ---- Commercial real estate: Owner-occupied 204 11 11 204 11 11 Nonowner-occupied 401 5 5 404 70 70 Commercial and industrial 3,589 52 52 3,343 117 117 Consumer: Home equity 218 2 2 219 6 6 With no related allowance recorded: Residential real estate 1,005 11 11 761 36 36 Commercial real estate: Owner-occupied 2,873 74 74 2,617 135 135 Nonowner-occupied 2,910 12 12 3,605 37 37 Construction 680 ---- ---- 510 ---- ---- Commercial and industrial 3,800 26 26 3,897 133 133 Total $ 16,575 $ 193 $ 193 $ 16,455 $ 545 $ 545 The recorded investment of a loan is its carrying value excluding accrued interest and deferred loan fees. Nonaccrual loans and loans past due 90 days or more and still accruing include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified as impaired loans. The Company transfers loans to other real estate owned, at fair value less cost to sell, in the period the Company obtains physical possession of the property (through legal title or through a deed in lieu). As of September 30, 2016 and December 31, 2015, other real estate owned secured by residential real estate totaled $986 and $1,131, respectively. In addition, nonaccrual residential mortgage loans that are in the process of foreclosure had a recorded investment of $1,042 and $988 as of September 30, 2016 and December 31, 2015, respectively. The following table presents the recorded investment of nonaccrual loans and loans past due 90 days or more and still accruing by class of loans as of September 30, 2016 and December 31, 2015: September 30, 2016 Loans Past Due 90 Days And Still Accruing Nonaccrual Residential real estate $ 152 $ 3,387 Commercial real estate: Owner-occupied 207 1,575 Nonowner-occupied ---- 2,711 Construction ---- 544 Commercial and industrial ---- 661 Consumer: Automobile 53 16 Home equity ---- 35 Other 31 98 Total $ 443 $ 9,027 December 31, 2015 Loans Past Due 90 Days And Still Accruing Nonaccrual Residential real estate $ 20 $ 2,048 Commercial real estate: Owner-occupied ---- 404 Nonowner-occupied ---- 2,737 Construction ---- 769 Commercial and industrial ---- 1,152 Consumer: Automobile 18 27 Home equity ---- 96 Other 1 3 Total $ 39 $ 7,236 The following table presents the aging of the recorded investment of past due loans by class of loans as of September 30, 2016 and December 31, 2015: September 30, 2016 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due Total Past Due Loans Not Past Due Total Residential real estate $ 4,355 $ 1,677 $ 2,164 $ 8,196 $ 265,139 $ 273,335 Commercial real estate: Owner-occupied 162 338 1,508 2,008 80,196 82,204 Nonowner-occupied 226 316 2,235 2,777 96,146 98,923 Construction 414 ---- 182 596 33,898 34,494 Commercial and industrial 370 230 602 1,202 95,990 97,192 Consumer: Automobile 1,030 228 63 1,321 57,038 58,359 Home equity 174 ---- ---- 174 19,985 20,159 Other 1,120 199 56 1,375 55,546 56,921 Total $ 7,851 $ 2,988 $ 6,810 $ 17,649 $ 703,938 $ 721,587 December 31, 2015 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due Total Past Due Loans Not Past Due Total Residential real estate $ 2,564 $ 1,484 $ 1,708 $ 5,756 $ 218,119 $ 223,875 Commercial real estate: Owner-occupied 141 33 371 545 72,913 73,458 Nonowner-occupied 35 334 2,737 3,106 68,896 72,002 Construction ---- 2 769 771 23,081 23,852 Commercial and industrial 31 88 1,077 1,196 80,740 81,936 Consumer: Automobile 727 197 36 960 43,606 44,566 Home equity 75 ---- 76 151 20,690 20,841 Other 420 104 4 528 44,694 45,222 Total $ 3,993 $ 2,242 $ 6,778 $ 13,013 $ 572,739 $ 585,752 Troubled Debt Restructurings: A troubled debt restructuring (“TDR”) occurs when the Company has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. All TDR’s are considered to be impaired. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; a reduction in the contractual principal and interest payments of the loan; or short-term interest-only payment terms. The Company has allocated reserves for a portion of its TDR’s to reflect the fair values of the underlying collateral or the present value of the concessionary terms granted to the customer. The following table presents the types of TDR loan modifications by class of loans as of September 30, 2016 and December 31, 2015: September 30, 2016 TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Total TDR’s Residential real estate Interest only payments $ 724 $ ---- $ 724 Commercial real estate: Owner-occupied Interest only payments 316 ---- 316 Rate reduction ---- 232 232 Reduction of principal and interest payments 586 ---- 586 Maturity extension at lower stated rate than market rate 1,610 ---- 1,610 Credit extension at lower stated rate than market rate 204 ---- 204 Nonowner-occupied Interest only payments 600 2,374 2,974 Rate reduction 387 ---- 387 Credit extension at lower stated rate than market rate 574 ---- 574 Commercial and industrial Interest only payments 7,750 ---- 7,750 Credit extension at lower stated rate than market rate 957 392 1,349 Consumer: Home equity Maturity extension at lower stated rate than market rate 216 ---- 216 Total TDR’s $ 13,924 $ 2,998 $ 16,922 December 31, 2015 TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Total TDR’s Residential real estate Interest only payments $ 1,001 $ ---- $ 1,001 Commercial real estate: Owner-occupied Interest only payments 433 ---- 433 Rate reduction ---- 232 232 Reduction of principal and interest payments 604 ---- 604 Maturity extension at lower stated rate than market rate 1,996 ---- 1,996 Credit extension at lower stated rate than market rate 204 ---- 204 Nonowner-occupied Interest only payments 300 2,473 2,773 Rate reduction 396 ---- 396 Commercial and industrial Interest only payments 7,579 ---- 7,579 Credit extension at lower stated rate than market rate 226 391 617 Consumer: Home equity Maturity extension at lower stated rate than market rate 218 ---- 218 Total TDR’s $ 12,957 $ 3,096 $ 16,053 During the three months ended September 30, 2016, the TDR’s described above increased the provision expense and the allowance for loan losses by $14, with corresponding charge-offs of $11. During the nine months ended September 30, 2016, the TDR's described above decreased the provision expense and the allowance for loan losses by $1,105, with corresponding charge-offs of $11. These results are compared to a $44 decrease in both the provision expense and the allowance for loan losses during the three and nine months ended September 30, 2015, with corresponding charge-offs of $1,422. During the year ended December 31, 2015, the TDR's described above increased the allowance for loan losses and provision expense by $93 with corresponding charge-offs of $1,422. The charge-offs of $1,422 during 2015 included $1,304 that were related to specific reserves that had already been provided for during 2014, and, as a result, did not impact provision expense during 2015. At September 30, 2016, the balance in TDR loans increased $869, or 5.4%, from year-end 2015. The increase was largely from additional funds advanced to one commercial and industrial loan relationship during the third quarter of 2016. The Company had 82% of its TDR's performing according to their modified terms at September 30, 2016, as compared to 81% at December 31, 2015. The Company's specific allocations in reserves to customers whose loan terms have been modified in TDR’s totaled $553 at September 30, 2016, as compared to $1,669 in reserves at December 31, 2015. At September 30, 2016, the Company had $1,292 in commitments to lend additional amounts to customers with outstanding loans that are classified as TDR’s, as compared to $995 at December 31, 2015. There were no TDR loan modifications during the three months ended September 30, 2016. The following table presents the pre- and post-modification balances of TDR loan modifications by class of loans that occurred during the three months ended September 30, 2015: TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Three months ended September 30, 2015 Pre- Modification Recorded Investment Post- Modification Recorded Investment Pre- Modification Recorded Investment Post- Modification Recorded Investment Commercial real estate: Owner-occupied Maturity extension at lower stated rate than market rate $ 1,025 $ 1,025 $ ---- $ ---- Total TDR’s $ 1,025 $ 1,025 $ ---- $ ---- The following table presents the pre- and post-modification balances of TDR loan modifications by class of loans that occurred during the nine months ended September 30, 2016 and 2015: TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Nine months ended September 30, 2016 Pre- Modification Recorded Investment Post- Modification Recorded Investment Pre- Modification Recorded Investment Post- Modification Recorded Investment Commercial real estate: Nonowner-occupied Interest only payments $ ---- $ ---- $ 226 $ 226 Credit extension at lower stated rate than market rate 574 574 ---- ---- Total TDR’s $ 574 $ 574 $ 226 $ 226 TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Nine months ended September 30, 2015 Pre- Modification Recorded Investment Post- Modification Recorded Investment Pre- Modification Recorded Investment Post- Modification Recorded Investment Residential real estate: Interest only payments $ 495 $ 495 $ ---- $ ---- Commercial real estate: Owner-occupied Maturity extension at lower stated rate than market rate 1,025 1,025 ---- ---- Total TDR’s $ 1,520 $ 1,520 $ ---- $ ---- During the third quarter of 2016, the Company placed one commercial real estate TDR totaling $226 on nonaccrual status. The borrower continues to experience financial difficulty and the Company has started the foreclosure process. The Company reviewed the loan’s collateral during the third quarter and identified $11 in collateral impairment, which resulted in a partial charge-off of principal. There were no specific allocations of the allowance for loan losses recorded on the impaired TDR loan at September 30, 2016. All of the Company’s loans that were restructured during the nine months ended September 30, 2015 were performing in accordance with their modified terms. Excluding the commercial real estate loan of $226 previously mentioned, there were no other TDR’s described above at September 30, 2016 and 2015 that experienced any payment defaults within twelve months following their loan modification. A default is considered to have occurred once the TDR is past due 90 days or more or it has been placed on nonaccrual. TDR loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The loans modified during the nine months ended September 30, 2016 increased the provision expense and the allowance for loan losses by $11. As of September 30, 2016, the Company had no allocation of reserves to customers whose loan terms were modified during the first nine months of 2016. The loans modified during the nine months ended September 30, 2015 had no impact on the provision expense or the allowance for loan losses. As of September 30, 2015, the Company had no allocation of reserves to customers whose loan terms were modified during the first nine months of 2015. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. These risk categories are represented by a loan grading scale from 1 through 10. The Company analyzes loans individually with a higher credit risk rating and groups these loans into categories called “criticized” and ”classified” assets. The Company considers its criticized assets to be loans that are graded 8 and its classified assets to be loans that are graded 9 through 10. The Company’s risk categories are reviewed at least annually on loans that have aggregate borrowing amounts that meet or exceed $500. The Company uses the following definitions for its criticized loan risk ratings: Special Mention (Loan Grade 8). The Company uses the following definitions for its classified loan risk ratings: Substandard (Loan Grade 9). Doubtful (Loan Grade 10). Criticized and classified loans will mostly consist of commercial and industrial and commercial real estate loans. The Company considers its loans that do not meet the criteria for a criticized and classified asset rating as pass rated loans, which will include loans graded from 1 (Prime) to 7 (Watch). All commercial loans are categorized into a risk category either at the time of origination or reevaluation date. As of September 30, 2016 and December 31, 2015, and based on the most recent analysis performed, the risk category of commercial loans by class of loans was as follows: September 30, 2016 Pass Criticized Classified Total Commercial real estate: Owner-occupied $ 72,943 $ 370 $ 8,891 $ 82,204 Nonowner-occupied 88,613 367 9,943 98,923 Construction 33,951 ---- 543 34,494 Commercial and industrial 94,011 ---- 3,181 97,192 Total $ 289,518 $ 737 $ 22,558 $ 312,813 December 31, 2015 Pass Criticized Classified Total Commercial real estate: Owner-occupied $ 62,287 $ 6,738 $ 4,433 $ 73,458 Nonowner-occupied 61,577 6,305 4,120 72,002 Construction 23,080 ---- 772 23,852 Commercial and industrial 70,852 5,232 5,852 81,936 Total $ 217,796 $ 18,275 $ 15,177 $ 251,248 The Company also obtains the credit scores of its borrowers upon origination (if available by the credit bureau), but the scores are not updated. The Company focuses mostly on the performance and repayment ability of the borrower as an indicator of credit risk and does not consider a borrower's credit score to be a significant influence in the determination of a loan's credit risk grading. For residential and consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment of residential and consumer loans by class of loans based on repayment activity as of September 30, 2016 and December 31, 2015: September 30, 2016 Consumer Automobile Home Equity Other Residential Real Estate Total Performing $ 58,290 $ 20,124 $ 56,792 $ 269,796 $ 405,002 Nonperforming 69 35 129 3,539 3,772 Total $ 58,359 $ 20,159 $ 56,921 $ 273,335 $ 408,774 December 31, 2015 Consumer Automobile Home Equity Other Residential Real Estate Total Performing $ 44,521 $ 20,745 $ 45,218 $ 221,807 $ 332,291 Nonperforming 45 96 4 2,068 2,213 Total $ 44,566 $ 20,841 $ 45,222 $ 223,875 $ 334,504 The Company, through its subsidiaries, originates residential, consumer, and commercial loans to customers located primarily in the southeastern areas of Ohio as well as the western counties of West Virginia. Approximately 5.09% of total loans were unsecured at September 30, 2016, down from 6.06% at December 31, 2015. |
Note 6 - Financial Instruments
Note 6 - Financial Instruments with Off-balance Sheet | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 6 - FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit, and financial guarantees written, is represented by the contractual amount of those instruments. The contract amounts of these instruments are not included in the consolidated financial statements. At September 30, 2016, the contract amounts of these instruments totaled approximately $67,556, compared to $62,415 at December 31, 2015. The Bank uses the same credit policies in making commitments and conditional obligations as it does for instruments recorded on the balance sheet. Since many of these instruments are expected to expire without being drawn upon, the total contract amounts do not necessarily represent future cash requirements. |
Note 7 - Other Borrowed Funds
Note 7 - Other Borrowed Funds | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 7 - OTHER BORROWED FUNDS Other borrowed funds at September 30, 2016 and December 31, 2015 are comprised of advances from the Federal Home Loan Bank (“FHLB”) of Cincinnati and promissory notes. At September 30, 2016 and December 31, 2015, FHLB Borrowings included $84 and $117 in capitalized lease obligations, respectively. FHLB Borrowings Promissory Notes Totals September 30, 2016 $ 26,747 $ 8,918 $ 35,665 December 31, 2015 $ 20,028 $ 3,918 $ 23,946 Pursuant to collateral agreements with the FHLB, advances were secured by $263,867 in qualifying mortgage loans, $80,092 in commercial loans and $5,365 in FHLB stock at September 30, 2016. Fixed-rate FHLB advances of $26,663 mature through 2042 and have interest rates ranging from 1.34% to 3.31% and a year-to-date weighted average cost of 2.08%. There were no variable-rate FHLB borrowings at September 30, 2016. At September 30, 2016, the Company had a cash management line of credit enabling it to borrow up to $75,000 from the FHLB. All cash management advances have an original maturity of 90 days. The line of credit must be renewed on an annual basis. There was $75,000 available on this line of credit at September 30, 2016. Based on the Company's current FHLB stock ownership, total assets and pledgeable loans, the Company had the ability to obtain borrowings from the FHLB up to a maximum of $189,639 at September 30, 2016. Of this maximum borrowing capacity, the Company had $115,976 available to use as additional borrowings, of which $75,000 could be used for short-term, cash management advances, as mentioned above. Promissory notes, issued primarily by Ohio Valley, are due at various dates through a final maturity date of August 1, 2026, and have fixed rates ranging from 1.25% to 4.09% through August 1, 2021 and a year-to-date weighted average cost of 2.05% at September 30, 2016, as compared to 1.38% at December 31, 2015. Promissory notes payable by Ohio Valley to related parties totaled $360 at September 30, 2016. Promissory notes payable to other banks totaled $5,000 at September 30, 2016. Letters of credit issued on the Bank's behalf by the FHLB to collateralize certain public unit deposits as required by law totaled $47,000 at September 30, 2016 and $34,800 at December 31, 2015. Scheduled principal payments as of September 30, 2016: FHLB Borrowings Promissory Notes Totals 2016 $ 585 $ 1,905 $ 2,490 2017 5,022 2,019 7,041 2018 1,967 946 2,913 2019 1,906 453 2,359 2020 1,817 471 2,288 Thereafter 15,450 3,124 18,574 $ 26,747 $ 8,918 $ 35,665 |
Note 8 - Segment Information
Note 8 - Segment Information | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 8 – SEGMENT INFORMATION The reportable segments are determined by the products and services offered, primarily distinguished between banking and consumer finance. They are also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business, which are then aggregated if operating performance, products/services, and customers are similar. Loans, investments, and deposits provide the majority of the net revenues from the banking operation, while loans provide the majority of the net revenues for the consumer finance segment. All Company segments are domestic. Total revenues from the banking segment, which accounted for the majority of the Company's total revenues, totaled 90.9% and 90.2% of total consolidated revenues for the quarters ended September 30, 2016 and 2015, respectively. The accounting policies used for the Company's reportable segments are the same as those described in Note 1 - Summary of Significant Accounting Policies. Income taxes are allocated based on income before tax expense. Information for the Company’s reportable segments is as follows: Three Months Ended September 30, 2016 Banking Consumer Finance Total Company Net interest income $ 8,396 $ 589 $ 8,985 Provision expense 1,675 33 1,708 Noninterest income 1,655 38 1,693 Noninterest expense 8,167 661 8,828 Tax expense (benefit) (193 ) (23 ) (216 ) Net income (loss) 402 (44 ) 358 Assets 957,889 12,341 970,230 Three Months Ended September 30, 2015 Banking Consumer Finance Total Company Net interest income $ 7,627 $ 658 $ 8,285 Provision expense (benefit) 10 (21 ) (11 ) Noninterest income 1,522 62 1,584 Noninterest expense 7,106 621 7,727 Tax expense 471 40 511 Net income 1,562 80 1,642 Assets 795,458 13,008 808,466 Nine Months Ended September 30, 2016 Banking Consumer Finance Total Company Net interest income $ 23,684 $ 2,607 $ 26,291 Provision expense 2,180 148 2,328 Noninterest income 6,220 569 6,789 Noninterest expense 22,460 2,110 24,570 Tax expense 975 311 1,286 Net income 4,289 607 4,896 Assets 957,889 12,341 970,230 Nine Months Ended September 30, 2015 Banking Consumer Finance Total Company Net interest income $ 22,690 $ 2,674 $ 25,364 Provision expense 685 25 710 Noninterest income 6,351 639 6,990 Noninterest expense 20,679 2,029 22,708 Tax expense 1,834 426 2,260 Net income 5,843 833 6,676 Assets 795,458 13,008 808,466 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | BASIS OF PRESENTATION : These interim financial statements are prepared by the Company without audit and reflect all adjustments of a normal recurring nature which, in the opinion of management, are necessary to present fairly the consolidated financial position of the Company at September 30, 2016, and its results of operations and cash flows for the periods presented. The results of operations for the nine months ended September 30, 2016 are not necessarily indicative of the operating results to be anticipated for the full fiscal year ending December 31, 2016. The accompanying consolidated financial statements do not purport to contain all the necessary financial disclosures required by U.S. generally accepted accounting principles (“US GAAP”) that might otherwise be necessary in the circumstances. The Annual Report of the Company for the year ended December 31, 2015 contains consolidated financial statements and related notes which should be read in conjunction with the accompanying consolidated financial statements. On August 5, 2016, the Company completed the merger of Milton Bancorp, Inc. ("Milton Bancorp") into Ohio Valley (“the Merger”). Immediately following the Merger, Milton Bancorp's wholly-owned subsidiary, The Milton Banking Company (“Milton Bank”), was merged with and into the Bank. Further information regarding the merger can be found within Note 2 – Business Combinations of this Form 10-Q. The consolidated financial statements for 2015 have been reclassified to conform to the presentation for 2016. These reclassifications had no effect on the net results of operations or shareholders’ equity. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS: |
Segment Reporting, Policy [Policy Text Block] | INDUSTRY SEGMENT INFORMATION: |
Earnings Per Share, Policy [Policy Text Block] | EARNINGS PER SHARE : |
New Accounting Pronouncements, Policy [Policy Text Block] | NEW ACCOUNTING PRONOUNCEMENTS: In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities”. The update provides updated accounting and reporting requirements for both public and non-public entities. The most significant provisions that will impact the Company are: 1) equity securities available for sale will be measured at fair value, with the changes in fair value recognized in the income statement; 2) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments at amortized cost on the balance sheet; 3) utilization of the exit price notion when measuring the fair value of financial instruments for disclosure purposes; and 4) require separate presentation of both financial assets and liabilities by measurement category and form of financial asset on the balance sheet or accompanying notes to the financial statements. The update will be effective for interim and annual periods beginning after December 15, 2017, using a cumulative-effect adjustment to the balance sheet as of the beginning of the year of adoption. Early adoption is not permitted. Management is currently evaluating the impact of this update on its Consolidated Financial Statements. In February 2016, the FASB issued an update (ASU 2016-02, Leases) which will require lessees to record most leases on their balance sheet and recognize leasing expenses in the income statement. Operating leases, except for short-term leases that are subject to an accounting policy election, will be recorded on the balance sheet for lessees by establishing a lease liability and corresponding right-of-use asset. The guidance in this ASU will become effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. Management is currently evaluating the impact of this update on its Consolidated Financial Statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses”. ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted, for annual periods and interim periods within those annual periods, beginning after December 15, 2018. Management is currently evaluating the impact this update will have on the Company’s financial statements and results of operations. In August 2016, FASB issued ASU 2016-15, “Statement of Cash Flows” (Topic 230), Classification of Certain Cash Receipts and Cash Payments, which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic. The ASU's amendments add or clarify guidance on eight cash flow issues: ● Debt prepayment or debt extinguishment costs. ● Settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing. ● Contingent consideration payments made after a business combination. ● Proceeds from the settlement of insurance claims. ● Proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies. ● Distributions received from equity method investees. ● Beneficial interests in securitization transactions. ● Separately identifiable cash flows and application of the predominance principle. For public business entities, the guidance in the ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for all entities. Entities must apply the guidance retrospectively to all periods presented but may apply it prospectively from the earliest date practicable if retrospective application would be impracticable. Management is currently evaluating the impact of the adoption of this guidance on the Company's consolidated financial statements. |
Note 2 - Business Combinations
Note 2 - Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Consideration: Cash $ 7,431 Equity Instruments 11,444 Fair value of total consideration transferred $ 18,875 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 9,117 Securities 5,868 Restricted investments in bank stock 364 Loans 113,298 Premises and equipment 2,216 Other real estate owned 641 Bank owned life insurance 272 Other assets 520 Total assets acquired 132,296 Deposits 119,215 Other liabilities (9 ) Total liabilities assumed 119,206 Total identifiable net assets 13,090 Goodwill 5,785 $ 18,875 |
Note 3 - Fair Value of Financ19
Note 3 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2016 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government sponsored entity securities ---- $ 10,636 ---- Agency mortgage-backed securities, residential ---- 94,224 ---- Fair Value Measurements at December 31, 2015 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government sponsored entity securities ---- $ 8,965 ---- Agency mortgage-backed securities, residential ---- 82,686 ---- Fair Value Measurements at September 30, 2016, Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans: Commercial real estate: Owner-occupied ---- ---- $ 3,843 Nonowner-occupied ---- ---- 2,147 Commercial and industrial ---- ---- 298 Other real estate owned: Commercial real estate: Construction ---- ---- 1,147 Fair Value Measurements at December 31, 2015, Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Impaired loans: Commercial real estate: Nonowner-occupied ---- ---- $ 2,473 Commercial and industrial ---- ---- 3,779 Other real estate owned: Commercial real estate: Construction ---- ---- 1,147 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | September 30, 2016 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate: Owner-occupied $ 3,843 Sales approach Adjustment to comparables 0% to 45% 15.99 % Cost approach Adjustment to comparables 0% to 29.5% 14.76 % Nonowner-occupied 2,147 Sales approach Adjustment to comparables 0% to 12.5% 6.9 % Commercial and industrial 298 Sales approach Adjustment to comparables 0.9% to 9.7% 5.2 % Other real estate owned: Commercial real estate: Construction 1,147 Sales approach Adjustment to comparables 0% to 35% 15.2 % December 31, 2015 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate: Nonowner-occupied $ 2,473 Sales approach Adjustment to comparables 0% to 12.5% 5.7 % Commercial and industrial 3,779 Sales approach Adjustment to comparables 0.9% to 30% 14.3 % Other real estate owned: Commercial real estate: Construction 1,147 Sales approach Adjustment to comparables 0% to 35% 15.2 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at September 30, 2016 Using: Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 61,885 $ 61,885 $ ---- $ ---- $ 61,885 Certificates of deposit in financial institutions 1,670 ---- 1,670 ---- 1,670 Securities available for sale 104,860 ---- 104,860 ---- 104,860 Securities held to maturity 19,651 ---- 10,356 10,381 20,737 Restricted investments in bank stocks 6,939 N/A N/A N/A N/A Loans, net 714,050 ---- ---- 722,276 722,276 Accrued interest receivable 2,247 ---- 361 1,886 2,247 Financial liabilities: Deposits 805,783 215,933 590,489 ---- 806,422 Other borrowed funds 35,665 ---- 35,990 ---- 35,990 Subordinated debentures 8,500 ---- 5,801 ---- 5,801 Accrued interest payable 517 2 515 ---- 517 Fair Value Measurements at December 31, 2015 Using: Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 45,530 $ 45,530 $ ---- $ ---- $ 45,530 Certificates of deposit in financial institutions 1,715 ---- 1,715 ---- 1,715 Securities available for sale 91,651 ---- 91,651 ---- 91,651 Securities held to maturity 19,903 ---- 9,814 10,976 20,790 Federal Home Loan Bank and Federal Reserve Bank stock 6,576 N/A N/A N/A N/A Loans, net 579,104 ---- ---- 582,427 582,427 Accrued interest receivable 1,819 ---- 224 1,595 1,819 Financial liabilities: Deposits 660,746 176,499 484,636 ---- 661,135 Other borrowed funds 23,946 ---- 23,672 ---- 23,672 Subordinated debentures 8,500 ---- 5,368 ---- 5,368 Accrued interest payable 449 4 445 ---- 449 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Held-to-maturity Securities [Member] | |
Notes Tables | |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Held to Maturity Obligations of states and political subdivisions $ 587 $ (4 ) $ ---- $ ---- $ 587 $ (4 ) Total held to maturity $ 587 $ (4 ) $ ---- $ ---- $ 587 $ (4 ) Less Than 12 Months 12 Months or More Total Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Securities Held to Maturity Obligations of states and political subdivisions $ 995 $ (5 ) $ ---- $ ---- $ 995 $ (5 ) Total held to maturity $ 995 $ (5 ) $ ---- $ ---- $ 995 $ (5 ) |
Available-for-sale Securities [Table Text Block] | Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2016 U.S. Government sponsored entity securities $ 10,627 $ 9 $ ---- $ 10,636 Agency mortgage-backed securities, residential 92,243 1,986 (5 ) 94,224 Total securities $ 102,870 $ 1,995 $ (5 ) $ 104,860 December 31, 2015 U.S. Government sponsored entity securities $ 9,011 $ ---- $ (46 ) $ 8,965 Agency mortgage-backed securities, residential 82,178 981 (473 ) 82,686 Total securities $ 91,189 $ 981 $ (519 ) $ 91,651 |
Held-to-maturity Securities [Table Text Block] | Securities Held to Maturity Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value September 30, 2016 Obligations of states and political subdivisions $ 19,646 $ 1,090 $ (4 ) $ 20,732 Agency mortgage-backed securities, residential 5 ---- ---- 5 Total securities $ 19,651 $ 1,090 $ (4 ) $ 20,737 December 31, 2015 Obligations of states and political subdivisions $ 19,898 $ 892 $ (5 ) $ 20,785 Agency mortgage-backed securities, residential 5 ---- ---- 5 Total securities $ 19,903 $ 892 $ (5 ) $ 20,790 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale Held to Maturity Debt Securities: Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in one year or less $ 4,002 $ 4,003 $ 395 $ 398 Due in over one to five years 6,625 6,633 7,160 7,540 Due in over five to ten years ---- ---- 9,800 10,471 Due after ten years ---- ---- 2,291 2,323 Agency mortgage-backed securities, residential 92,243 94,224 5 5 Total debt securities $ 102,870 $ 104,860 $ 19,651 $ 20,737 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than 12 Months 12 Months or More Total September 30, 2016 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale Agency mortgage-backed securities, residential $ 1,067 $ (5 ) $ ---- $ ---- $ 1,067 $ (5 ) Total available for sale $ 1,067 $ (5 ) $ ---- $ ---- $ 1,067 $ (5 ) Less Than 12 Months 12 Months or More Total December 31, 2015 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale U.S. Government sponsored entity securities $ 7,964 $ (46 ) $ ---- $ ---- $ 7,964 $ (46 ) Agency mortgage-backed securities, residential 42,112 (407 ) 3,645 (66 ) 45,757 (473 ) Total available for sale $ 50,076 $ (453 ) $ 3,645 $ (66 ) $ 53,721 $ (519 ) |
Note 5 - Loans and Allowance 21
Note 5 - Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans are comprised of the following: September 30, December 31, 2016 2015 Residential real estate $ 273,335 $ 223,875 Commercial real estate: Owner-occupied 82,204 73,458 Nonowner-occupied 98,923 72,002 Construction 34,494 23,852 Commercial and industrial 97,192 81,936 Consumer: Automobile 58,359 44,566 Home equity 20,159 20,841 Other 56,921 45,222 721,587 585,752 Less: Allowance for loan losses 7,537 6,648 Loans, net $ 714,050 $ 579,104 |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | September 30, 2016 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 906 $ 3,464 $ 1,416 $ 1,148 $ 6,934 Provision for loan losses 228 802 149 529 1,708 Loans charged off (151 ) (11 ) (587 ) (704 ) (1,453 ) Recoveries 30 19 1 298 348 Total ending allowance balance $ 1,013 $ 4,274 $ 979 $ 1,271 $ 7,537 September 30, 2015 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 1,230 $ 2,795 $ 2,287 $ 1,132 $ 7,444 Provision for loan losses (166 ) (214 ) 205 164 (11 ) Loans charged-off (40 ) (596 ) ---- (309 ) (945 ) Recoveries 219 15 11 169 414 Total ending allowance balance $ 1,243 $ 2,000 $ 2,503 $ 1,156 $ 6,902 September 30, 2016 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 1,087 $ 1,959 $ 2,589 $ 1,013 $ 6,648 Provision for loan losses 10 2,264 (1,035 ) 1,089 2,328 Loans charged off (322 ) (63 ) (587 ) (1,540 ) (2,512 ) Recoveries 238 114 12 709 1,073 Total ending allowance balance $ 1,013 $ 4,274 $ 979 $ 1,271 $ 7,537 September 30, 2015 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Beginning balance $ 1,426 $ 4,195 $ 1,602 $ 1,111 $ 8,334 Provision for loan losses (256 ) (272 ) 697 541 710 Loans charged-off (263 ) (1,970 ) (24 ) (1,016 ) (3,273 ) Recoveries 336 47 228 520 1,131 Total ending allowance balance $ 1,243 $ 2,000 $ 2,503 $ 1,156 $ 6,902 |
Allowance For Loan Losses And The Recorded Investment Of Loans [Table Text Block] | September 30, 2016 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ ---- $ 2,705 $ 245 $ 2 $ 2,952 Collectively evaluated for impairment 1,013 1,569 734 1,269 4,585 Total ending allowance balance $ 1,013 $ 4,274 $ 979 $ 1,271 $ 7,537 Loans: Loans individually evaluated for impairment $ 724 $ 13,391 $ 9,099 $ 216 $ 23,430 Loans collectively evaluated for impairment 272,611 202,230 88,093 135,223 698,157 Total ending loans balance $ 273,335 $ 215,621 $ 97,192 $ 135,439 $ 721,587 December 31, 2015 Residential Real Estate Commercial Real Estate Commercial and Industrial Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ ---- $ 311 $ 1,850 $ 3 $ 2,164 Collectively evaluated for impairment 1,087 1,648 739 1,010 4,484 Total ending allowance balance $ 1,087 $ 1,959 $ 2,589 $ 1,013 $ 6,648 Loans: Loans individually evaluated for impairment $ 1,001 $ 7,318 $ 8,691 $ 218 $ 17,228 Loans collectively evaluated for impairment 222,874 161,994 73,245 110,411 568,524 Total ending loans balance $ 223,875 $ 169,312 $ 81,936 $ 110,629 $ 585,752 |
Schedule of Loans Individually Evaluated for Impairment [Table Text Block] | September 30, 2016 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With an allowance recorded: Commercial real estate: Owner-occupied $ 5,918 $ 5,918 $ 2,603 Nonowner-occupied 387 387 102 Commercial and industrial 391 391 245 Consumer: Home equity 216 216 2 With no related allowance recorded: Residential real estate 724 724 ---- Commercial real estate: Owner-occupied 3,291 2,744 ---- Nonowner-occupied 5,614 3,798 ---- Construction 641 544 ---- Commercial and industrial 8,708 8,708 ---- Total $ 25,890 $ 23,430 $ 2,952 December 31, 2015 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With an allowance recorded: Commercial real estate: Owner-occupied $ 204 $ 204 $ 204 Nonowner-occupied 396 396 107 Commercial and industrial 4,355 4,355 1,850 Consumer: Home equity 218 218 3 With no related allowance recorded: Residential real estate 1,001 1,001 ---- Commercial real estate: Owner-occupied 3,812 3,265 ---- Nonowner-occupied 5,178 2,773 ---- Construction 680 680 ---- Commercial and industrial 4,336 4,336 ---- Total $ 20,180 $ 17,228 $ 2,164 Three months ended September 30, 2016 Nine months ended September 30, 2016 Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized With an allowance recorded: Commercial real estate: Owner-occupied $ 5,427 $ 94 $ 94 $ 2,815 $ 241 $ 241 Nonowner-occupied 389 5 5 392 15 15 Commercial and industrial 391 ---- ---- 391 ---- ---- Consumer: Home equity 217 1 1 218 5 5 With no related allowance recorded: Residential real estate 725 4 4 728 20 20 Commercial real estate: Owner-occupied 2,797 37 37 2,879 120 120 Nonowner-occupied 3,680 33 33 3,557 75 75 Construction 363 11 11 521 108 108 Commercial and industrial 8,575 103 103 8,234 290 290 Total $ 22,564 $ 288 $ 288 $ 19,735 $ 874 $ 874 Three months ended September 30, 2015 Nine months ended September 30, 2015 Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized Average Impaired Loans Interest Income Recognized Cash Basis Interest Recognized With an allowance recorded: Residential real estate $ 895 $ ---- $ ---- $ 895 $ ---- $ ---- Commercial real estate: Owner-occupied 204 11 11 204 11 11 Nonowner-occupied 401 5 5 404 70 70 Commercial and industrial 3,589 52 52 3,343 117 117 Consumer: Home equity 218 2 2 219 6 6 With no related allowance recorded: Residential real estate 1,005 11 11 761 36 36 Commercial real estate: Owner-occupied 2,873 74 74 2,617 135 135 Nonowner-occupied 2,910 12 12 3,605 37 37 Construction 680 ---- ---- 510 ---- ---- Commercial and industrial 3,800 26 26 3,897 133 133 Total $ 16,575 $ 193 $ 193 $ 16,455 $ 545 $ 545 |
Schedule of Recorded Investment In Nonaccrual Loans [Table Text Block] | September 30, 2016 Loans Past Due 90 Days And Still Accruing Nonaccrual Residential real estate $ 152 $ 3,387 Commercial real estate: Owner-occupied 207 1,575 Nonowner-occupied ---- 2,711 Construction ---- 544 Commercial and industrial ---- 661 Consumer: Automobile 53 16 Home equity ---- 35 Other 31 98 Total $ 443 $ 9,027 December 31, 2015 Loans Past Due 90 Days And Still Accruing Nonaccrual Residential real estate $ 20 $ 2,048 Commercial real estate: Owner-occupied ---- 404 Nonowner-occupied ---- 2,737 Construction ---- 769 Commercial and industrial ---- 1,152 Consumer: Automobile 18 27 Home equity ---- 96 Other 1 3 Total $ 39 $ 7,236 |
Past Due Financing Receivables [Table Text Block] | September 30, 2016 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due Total Past Due Loans Not Past Due Total Residential real estate $ 4,355 $ 1,677 $ 2,164 $ 8,196 $ 265,139 $ 273,335 Commercial real estate: Owner-occupied 162 338 1,508 2,008 80,196 82,204 Nonowner-occupied 226 316 2,235 2,777 96,146 98,923 Construction 414 ---- 182 596 33,898 34,494 Commercial and industrial 370 230 602 1,202 95,990 97,192 Consumer: Automobile 1,030 228 63 1,321 57,038 58,359 Home equity 174 ---- ---- 174 19,985 20,159 Other 1,120 199 56 1,375 55,546 56,921 Total $ 7,851 $ 2,988 $ 6,810 $ 17,649 $ 703,938 $ 721,587 December 31, 2015 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due Total Past Due Loans Not Past Due Total Residential real estate $ 2,564 $ 1,484 $ 1,708 $ 5,756 $ 218,119 $ 223,875 Commercial real estate: Owner-occupied 141 33 371 545 72,913 73,458 Nonowner-occupied 35 334 2,737 3,106 68,896 72,002 Construction ---- 2 769 771 23,081 23,852 Commercial and industrial 31 88 1,077 1,196 80,740 81,936 Consumer: Automobile 727 197 36 960 43,606 44,566 Home equity 75 ---- 76 151 20,690 20,841 Other 420 104 4 528 44,694 45,222 Total $ 3,993 $ 2,242 $ 6,778 $ 13,013 $ 572,739 $ 585,752 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | September 30, 2016 TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Total TDR’s Residential real estate Interest only payments $ 724 $ ---- $ 724 Commercial real estate: Owner-occupied Interest only payments 316 ---- 316 Rate reduction ---- 232 232 Reduction of principal and interest payments 586 ---- 586 Maturity extension at lower stated rate than market rate 1,610 ---- 1,610 Credit extension at lower stated rate than market rate 204 ---- 204 Nonowner-occupied Interest only payments 600 2,374 2,974 Rate reduction 387 ---- 387 Credit extension at lower stated rate than market rate 574 ---- 574 Commercial and industrial Interest only payments 7,750 ---- 7,750 Credit extension at lower stated rate than market rate 957 392 1,349 Consumer: Home equity Maturity extension at lower stated rate than market rate 216 ---- 216 Total TDR’s $ 13,924 $ 2,998 $ 16,922 December 31, 2015 TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Total TDR’s Residential real estate Interest only payments $ 1,001 $ ---- $ 1,001 Commercial real estate: Owner-occupied Interest only payments 433 ---- 433 Rate reduction ---- 232 232 Reduction of principal and interest payments 604 ---- 604 Maturity extension at lower stated rate than market rate 1,996 ---- 1,996 Credit extension at lower stated rate than market rate 204 ---- 204 Nonowner-occupied Interest only payments 300 2,473 2,773 Rate reduction 396 ---- 396 Commercial and industrial Interest only payments 7,579 ---- 7,579 Credit extension at lower stated rate than market rate 226 391 617 Consumer: Home equity Maturity extension at lower stated rate than market rate 218 ---- 218 Total TDR’s $ 12,957 $ 3,096 $ 16,053 |
Troubled Debt Restructurings on Financing Receivables Pre And Post Modification [Table Text Block] | TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Three months ended September 30, 2015 Pre- Modification Recorded Investment Post- Modification Recorded Investment Pre- Modification Recorded Investment Post- Modification Recorded Investment Commercial real estate: Owner-occupied Maturity extension at lower stated rate than market rate $ 1,025 $ 1,025 $ ---- $ ---- Total TDR’s $ 1,025 $ 1,025 $ ---- $ ---- TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Nine months ended September 30, 2016 Pre- Modification Recorded Investment Post- Modification Recorded Investment Pre- Modification Recorded Investment Post- Modification Recorded Investment Commercial real estate: Nonowner-occupied Interest only payments $ ---- $ ---- $ 226 $ 226 Credit extension at lower stated rate than market rate 574 574 ---- ---- Total TDR’s $ 574 $ 574 $ 226 $ 226 TDR’s Performing to Modified Terms TDR’s Not Performing to Modified Terms Nine months ended September 30, 2015 Pre- Modification Recorded Investment Post- Modification Recorded Investment Pre- Modification Recorded Investment Post- Modification Recorded Investment Residential real estate: Interest only payments $ 495 $ 495 $ ---- $ ---- Commercial real estate: Owner-occupied Maturity extension at lower stated rate than market rate 1,025 1,025 ---- ---- Total TDR’s $ 1,520 $ 1,520 $ ---- $ ---- |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2016 Pass Criticized Classified Total Commercial real estate: Owner-occupied $ 72,943 $ 370 $ 8,891 $ 82,204 Nonowner-occupied 88,613 367 9,943 98,923 Construction 33,951 ---- 543 34,494 Commercial and industrial 94,011 ---- 3,181 97,192 Total $ 289,518 $ 737 $ 22,558 $ 312,813 December 31, 2015 Pass Criticized Classified Total Commercial real estate: Owner-occupied $ 62,287 $ 6,738 $ 4,433 $ 73,458 Nonowner-occupied 61,577 6,305 4,120 72,002 Construction 23,080 ---- 772 23,852 Commercial and industrial 70,852 5,232 5,852 81,936 Total $ 217,796 $ 18,275 $ 15,177 $ 251,248 |
Performing and Nonperforming Loans [Table Text Block] | September 30, 2016 Consumer Automobile Home Equity Other Residential Real Estate Total Performing $ 58,290 $ 20,124 $ 56,792 $ 269,796 $ 405,002 Nonperforming 69 35 129 3,539 3,772 Total $ 58,359 $ 20,159 $ 56,921 $ 273,335 $ 408,774 December 31, 2015 Consumer Automobile Home Equity Other Residential Real Estate Total Performing $ 44,521 $ 20,745 $ 45,218 $ 221,807 $ 332,291 Nonperforming 45 96 4 2,068 2,213 Total $ 44,566 $ 20,841 $ 45,222 $ 223,875 $ 334,504 |
Note 7 - Other Borrowed Funds (
Note 7 - Other Borrowed Funds (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | FHLB Borrowings Promissory Notes Totals September 30, 2016 $ 26,747 $ 8,918 $ 35,665 December 31, 2015 $ 20,028 $ 3,918 $ 23,946 |
Schedule of Maturities of Long-term Debt [Table Text Block] | FHLB Borrowings Promissory Notes Totals 2016 $ 585 $ 1,905 $ 2,490 2017 5,022 2,019 7,041 2018 1,967 946 2,913 2019 1,906 453 2,359 2020 1,817 471 2,288 Thereafter 15,450 3,124 18,574 $ 26,747 $ 8,918 $ 35,665 |
Note 8 - Segment Information (T
Note 8 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended September 30, 2016 Banking Consumer Finance Total Company Net interest income $ 8,396 $ 589 $ 8,985 Provision expense 1,675 33 1,708 Noninterest income 1,655 38 1,693 Noninterest expense 8,167 661 8,828 Tax expense (benefit) (193 ) (23 ) (216 ) Net income (loss) 402 (44 ) 358 Assets 957,889 12,341 970,230 Three Months Ended September 30, 2015 Banking Consumer Finance Total Company Net interest income $ 7,627 $ 658 $ 8,285 Provision expense (benefit) 10 (21 ) (11 ) Noninterest income 1,522 62 1,584 Noninterest expense 7,106 621 7,727 Tax expense 471 40 511 Net income 1,562 80 1,642 Assets 795,458 13,008 808,466 Nine Months Ended September 30, 2016 Banking Consumer Finance Total Company Net interest income $ 23,684 $ 2,607 $ 26,291 Provision expense 2,180 148 2,328 Noninterest income 6,220 569 6,789 Noninterest expense 22,460 2,110 24,570 Tax expense 975 311 1,286 Net income 4,289 607 4,896 Assets 957,889 12,341 970,230 Nine Months Ended September 30, 2015 Banking Consumer Finance Total Company Net interest income $ 22,690 $ 2,674 $ 25,364 Provision expense 685 25 710 Noninterest income 6,351 639 6,990 Noninterest expense 20,679 2,029 22,708 Tax expense 1,834 426 2,260 Net income 5,843 833 6,676 Assets 795,458 13,008 808,466 |
Note 1 - Summary of Significa24
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016shares | Sep. 30, 2015shares | Sep. 30, 2016shares | Sep. 30, 2015shares | |
Number of Reportable Segments | 2 | |||
Weighted Average Number of Shares Outstanding, Basic | 4,466,601 | 4,117,675 | 4,246,311 | 4,117,675 |
Note 2 - Business Combination25
Note 2 - Business Combinations (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Aug. 05, 2016 | Sep. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 |
Milton Bancorp, Inc [Member] | |||||||
Business Combination, Number of Common Shares of the Acquiring Entity into Which Common Shares of the Acquired Entity May Be Converted | 1,636 | ||||||
Business Combination, Number of Common Shares of the Acquiring Entity into Which Common Shares of the Acquired Entity May Be Converted, Par Value | 0 | ||||||
Business Acquisition, Cash Which May Be Paid for the Stock of Acquired Entity | $ 37,219 | ||||||
Business Combination, Exchange of Acquired Entity's Common Shares for Cash or Common Shares of Acquiring Entity, Common Shares Reallocation Percentage | 80.00% | ||||||
Business Acquisition, Number of Issued and Outstanding Common Shares of Acquired Entity | 400 | ||||||
Business Combination, Exchange of Acquired Entity's Common Shares for Cash or Common Shares of Acquiring Entity, Cash Reallocation Percentage | 20.00% | ||||||
Business Combination, Number of Acquired Entity Preferred Shares Converted to Receive Cash Payment | 1,237 | ||||||
Business Combination, Cash Payment from Conversion of Acquired Preferred Shares | $ 3,600 | ||||||
Business Combination, Consideration Transferred | $ 18,875 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 11,444 | ||||||
Payments to Acquire Businesses, Gross | 7,431 | ||||||
Payments to Acquire Businesses, Portion Financed in Borrowed Funds | 5,000 | ||||||
Business Combination, Acquisition Related Costs | $ 777 | ||||||
Goodwill | 5,785 | ||||||
Business Combination, Acquisition Related Costs | $ 416 | $ 777 | |||||
Assets | $ 950,000 | 970,230 | 970,230 | $ 808,466 | 970,230 | $ 808,466 | $ 796,285 |
Number of Branches | 19 | ||||||
Goodwill | $ 7,052 | $ 7,052 | $ 7,052 | $ 1,267 |
Note 2 - Business Combination26
Note 2 - Business Combinations - Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands | Aug. 05, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Milton Bancorp, Inc [Member] | |||
Consideration: | |||
Cash | $ 7,431 | ||
Equity Instruments | 11,444 | ||
Fair value of total consideration transferred | 18,875 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||
Cash and cash equivalents | 9,117 | ||
Securities | 5,868 | ||
Restricted investments in bank stock | 364 | ||
Loans | 113,298 | ||
Premises and equipment | 2,216 | ||
Other real estate owned | 641 | ||
Bank owned life insurance | 272 | ||
Other assets | 520 | ||
Total assets acquired | 132,296 | ||
Deposits | 119,215 | ||
Other liabilities | (9) | ||
Total liabilities assumed | 119,206 | ||
Total identifiable net assets | 13,090 | ||
Goodwill | 5,785 | ||
$ 18,875 | |||
Goodwill | $ 7,052 | $ 1,267 |
Note 3 - Fair Value of Financ27
Note 3 - Fair Value of Financial Instruments (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Collateral Dependent Loans [Member] | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 9,169,000 | $ 9,169,000 | $ 7,811,000 | ||
Impaired Financing Receivable, Related Allowance | 2,881,000 | 2,881,000 | 1,559,000 | ||
Provision for Loan Losses Expensed | 819,000 | $ 107,000 | 2,477,000 | $ 94,000 | 741,000 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | 1,782,000 | 1,422,000 | ||
Selling Costs, Percentage | 10.00% | ||||
Impaired Financing Receivable, Related Allowance | 2,952,000 | $ 2,952,000 | 2,164,000 | ||
Other Real Estate | 1,147,000 | 1,147,000 | 1,147,000 | ||
Other Real Estate, Gross | 2,217,000 | 2,217,000 | 2,217,000 | ||
Real Estate Owned, Valuation Allowance | $ 1,070,000 | ||||
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | $ 0 | $ 0 | $ 0 | $ 0 |
Note 3 - Fair Value of Financ28
Note 3 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Assets measured on a recurring basis | ||
Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured on a recurring basis | ||
Fair Value, Inputs, Level 1 [Member] | Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Assets measured on a recurring basis | 10,636 | 8,965 |
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured on a recurring basis | 94,224 | 82,686 |
Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Assets measured on a nonrecurring basis | ||
Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Assets measured on a recurring basis | ||
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Assets measured on a nonrecurring basis | 3,843 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Assets measured on a nonrecurring basis | 2,147 | 2,473 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Assets measured on a nonrecurring basis | 298 | 3,779 |
Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured on a recurring basis | ||
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Assets measured on a nonrecurring basis | $ 1,147 | $ 1,147 |
Note 3 - Fair Value of Financ29
Note 3 - Fair Value of Financial Instruments - Level 3 Fair Value Measurements (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | ||
Range | 0.00% | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | ||
Range | 45.00% | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Range | 15.99% | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Market Approach Valuation Technique [Member] | ||
Fair Value | $ 3,843 | |
Valuation Technique | Sales approach | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Cost Approach Valuation Technique [Member] | Minimum [Member] | ||
Range | 0.00% | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Cost Approach Valuation Technique [Member] | Maximum [Member] | ||
Range | 29.50% | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Cost Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Range | 14.76% | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | Cost Approach Valuation Technique [Member] | ||
Fair Value | ||
Valuation Technique | Cost approach | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | ||
Range | 0.00% | 0.00% |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | ||
Range | 12.50% | 12.50% |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Range | 6.90% | 5.70% |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | Market Approach Valuation Technique [Member] | ||
Fair Value | $ 2,147 | $ 2,473 |
Valuation Technique | Sales approach | Sales approach |
Impaired Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | ||
Range | 0.90% | 0.90% |
Impaired Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | ||
Range | 9.70% | 30.00% |
Impaired Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Range | 5.20% | 14.30% |
Impaired Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | ||
Fair Value | $ 298 | $ 3,779 |
Valuation Technique | Sales approach | Sales approach |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | ||
Range | 0.00% | 0.00% |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | ||
Range | 35.00% | 35.00% |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Range | 15.20% | 15.20% |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Market Approach Valuation Technique [Member] | ||
Fair Value | $ 1,147 | $ 1,147 |
Valuation Technique | Sales approach | Sales approach |
Note 3 - Fair Value of Financ30
Note 3 - Fair Value of Financial Instruments - Fair Value Measurements (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | $ 61,885 | $ 45,530 |
Certificates of deposit in financial institutions | 1,670 | 1,715 |
Securities available for sale | 104,860 | 91,651 |
Securities held to maturity | 19,651 | 19,903 |
Restricted investments in bank stocks | 6,939 | 6,576 |
Loans, net | 714,050 | 579,104 |
Accrued interest receivable | 2,247 | 1,819 |
Deposits | 805,783 | 660,746 |
Other borrowed funds | 35,665 | 23,946 |
Subordinated debentures | 8,500 | 8,500 |
Accrued interest payable | 517 | 449 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 61,885 | 45,530 |
Certificates of deposit in financial institutions | ||
Securities available for sale | ||
Securities held to maturity | ||
Restricted investments in bank stocks | ||
Loans, net | ||
Accrued interest receivable | ||
Deposits | 215,933 | 176,499 |
Other borrowed funds | ||
Subordinated debentures | ||
Accrued interest payable | 2 | 4 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Certificates of deposit in financial institutions | 1,670 | 1,715 |
Securities available for sale | 104,860 | 91,651 |
Securities held to maturity | 10,356 | 9,814 |
Restricted investments in bank stocks | ||
Loans, net | ||
Accrued interest receivable | 361 | 224 |
Deposits | 590,489 | 484,636 |
Other borrowed funds | 35,990 | 23,672 |
Subordinated debentures | 5,801 | 5,368 |
Accrued interest payable | 515 | 445 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Certificates of deposit in financial institutions | ||
Securities available for sale | ||
Securities held to maturity | 10,381 | 10,976 |
Restricted investments in bank stocks | ||
Loans, net | 722,276 | 582,427 |
Accrued interest receivable | 1,886 | 1,595 |
Deposits | ||
Other borrowed funds | ||
Subordinated debentures | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 61,885 | 45,530 |
Certificates of deposit in financial institutions | 1,670 | 1,715 |
Securities available for sale | 104,860 | 91,651 |
Securities held to maturity | 20,737 | 20,790 |
Restricted investments in bank stocks | ||
Loans, net | 722,276 | 582,427 |
Accrued interest receivable | 2,247 | 1,819 |
Deposits | 806,422 | 661,135 |
Other borrowed funds | 35,990 | 23,672 |
Subordinated debentures | 5,801 | 5,368 |
Accrued interest payable | 517 | 449 |
Securities available for sale | 104,860 | 91,651 |
Securities held to maturity | $ 20,737 | $ 20,790 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Proceeds from Sale of Available-for-sale Securities | $ 0 | $ 10,550,000 | $ 0 | $ 10,550,000 |
Available-for-sale Securities, Gross Realized Gains | $ 28,000 | $ 163,000 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available for sale, amortized cost | $ 10,627 | $ 9,011 |
Securities available for sale, gross unrealized gains | 9 | |
Securities available for sale, gross unrealized losses | (46) | |
Securities available for sale | 10,636 | 8,965 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 92,243 | 82,178 |
Securities available for sale, gross unrealized gains | 1,986 | 981 |
Securities available for sale, gross unrealized losses | (5) | (473) |
Securities available for sale | 94,224 | 82,686 |
Securities available for sale, amortized cost | 102,870 | 91,189 |
Securities available for sale, gross unrealized gains | 1,995 | 981 |
Securities available for sale, gross unrealized losses | (5) | (519) |
Securities available for sale | $ 104,860 | $ 91,651 |
Note 4 - Securities - Securit33
Note 4 - Securities - Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities held to maturity, amortized cost | $ 19,646 | $ 19,898 |
Securities held to maturity, gross unrecognized gains | 1,090 | 892 |
Securities held to maturity, gross unrecognized losses | (4) | (5) |
Securities held to maturity | 20,732 | 20,785 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities held to maturity, amortized cost | 5 | 5 |
Securities held to maturity, gross unrecognized gains | ||
Securities held to maturity, gross unrecognized losses | ||
Securities held to maturity | 5 | 5 |
Securities held to maturity, amortized cost | 19,651 | 19,903 |
Securities held to maturity, gross unrecognized gains | 1,090 | 892 |
Securities held to maturity, gross unrecognized losses | (4) | (5) |
Securities held to maturity | $ 20,737 | $ 20,790 |
Note 4 - Securities by Contract
Note 4 - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Due in one year or less | $ 4,002 | |
Due in one year or less | 4,003 | |
Due in one year or less | 395 | |
Due in one year or less | 398 | |
Due in over one to five years | 6,625 | |
Due in over one to five years | 6,633 | |
Due in over one to five years | 7,160 | |
Due in over one to five years | 7,540 | |
Due in over five to ten years | ||
Due in over five to ten years | ||
Due in over five to ten years | 9,800 | |
Due in over five to ten years | 10,471 | |
Due after ten years | ||
Due after ten years | ||
Due after ten years | 2,291 | |
Due after ten years | 2,323 | |
Agency mortgage-backed securities, residential | 92,243 | |
Agency mortgage-backed securities, residential | 94,224 | |
Agency mortgage-backed securities, residential | 5 | |
Agency mortgage-backed securities, residential | 5 | |
Total debt securities | 102,870 | |
Total debt securities | 104,860 | |
Total debt securities | 19,651 | $ 19,903 |
Securities held to maturity | $ 20,737 | $ 20,790 |
Note 4 - Securities - Securit35
Note 4 - Securities - Securities Available-for-Sale with Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Less than 12 Months - Fair Value | $ 1,067 | $ 42,112 |
Less than 12 Months - Unrealized Loss | (5) | (407) |
12 Months or More - Fair Value | 3,645 | |
12 Months or More - Unrealized Loss | (66) | |
Fair Value | 1,067 | 45,757 |
Unrealized Loss | (5) | (473) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Less than 12 Months - Fair Value | 7,964 | |
Less than 12 Months - Unrealized Loss | (46) | |
12 Months or More - Fair Value | ||
12 Months or More - Unrealized Loss | ||
Fair Value | 7,964 | |
Unrealized Loss | (46) | |
Less than 12 Months - Fair Value | 1,067 | 50,076 |
Less than 12 Months - Unrealized Loss | (5) | (453) |
12 Months or More - Fair Value | 3,645 | |
12 Months or More - Unrealized Loss | (66) | |
Fair Value | 1,067 | 53,721 |
Unrealized Loss | $ (5) | $ (519) |
Note 4 - Securities - Securit36
Note 4 - Securities - Securities Held to Maturity with Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than 12 Months - Fair Value | $ 587 | $ 995 |
Less Than 12 Months - Unrecognized Loss | (4) | (5) |
12 Months or More - Fair Value | ||
12 Months or More - Unrecognized Loss | ||
Fair Value | 587 | 995 |
Unrecognized Loss | (4) | (5) |
Less Than 12 Months - Fair Value | 587 | 995 |
Less Than 12 Months - Unrecognized Loss | (4) | (5) |
12 Months or More - Fair Value | ||
12 Months or More - Unrecognized Loss | ||
Fair Value | 587 | 995 |
Unrecognized Loss | $ (4) | $ (5) |
Note 5 - Loans and Allowance 37
Note 5 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Residential Portfolio Segment [Member] | |||||
Real Estate Acquired Through Foreclosure | $ 986,000 | $ 986,000 | $ 1,131,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 1,042,000 | 1,042,000 | 988,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Troubled Debt Restrucuturings Placed on Nonaccrual Status, Number of Contracts | 1 | ||||
Troubled Debt Restrucuturings Placed on Nonaccrual Status, Amount | $ 226,000 | ||||
Troubled Debt Restrucuturings Placed on Nonaccrual Status, Collateral Impairment | $ 11,000 | ||||
Specific Reserves [Member] | |||||
Allowance for Loan and Lease Losses, Write-offs | $ 1,304,000 | ||||
Troubled Debt Restructurings [Member] | |||||
Increase (Decrease) in Other Loans | $ 869,000 | ||||
Change In Troubled Debt Restructurings | 5.40% | ||||
Percentage of Loan Portfolio | 82.00% | 82.00% | 81.00% | ||
Impaired Financing Receivable, Related Allowance | $ 553,000 | $ 553,000 | $ 1,669,000 | ||
Unsecured [Member] | |||||
Percentage of Loan Portfolio | 5.09% | 5.09% | 6.06% | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 14,000 | $ (44,000) | $ (1,105,000) | $ 44 | $ 93,000 |
Allowance for Loan and Lease Losses, Write-offs | 11,000 | $ 1,422,000 | 11,000 | $ 1,422,000 | 1,422,000 |
Impaired Financing Receivable, Related Allowance | 2,952,000 | 2,952,000 | 2,164,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 1,292,000 | $ 1,292,000 | $ 995,000 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |||
Minimum Loan Balance For Loans Evaluated by Risk Categories | $ 500,000 | $ 500,000 |
Note 5 - Loans and Allowance 38
Note 5 - Loans and Allowance for Loan Losses - Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Residential Portfolio Segment [Member] | ||
Loans | $ 273,335 | $ 223,875 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans | 82,204 | 73,458 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans | 98,923 | 72,002 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 34,494 | 23,852 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 215,621 | 169,312 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans | 97,192 | 81,936 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans | 58,359 | 44,566 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans | 20,159 | 20,841 |
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans | 56,921 | 45,222 |
Consumer Portfolio Segment [Member] | ||
Loans | 135,439 | 110,629 |
Loans | 721,587 | 585,752 |
Less: Allowance for loan losses | 7,537 | 6,648 |
Loans, net | $ 714,050 | $ 579,104 |
Note 5 - Loans and Allowance 39
Note 5 - Loans and Allowance for Loan Losses - Allowance for Loan Losses Activity by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Residential Portfolio Segment [Member] | ||||
Balance | $ 906 | $ 1,230 | $ 1,087 | $ 1,426 |
Provision for loan losses | 228 | (166) | 10 | (256) |
Loans charged off | (151) | (40) | (322) | (263) |
Recoveries | 30 | 219 | 238 | 336 |
Balance | 1,013 | 1,243 | 1,013 | 1,243 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 3,464 | 2,795 | 1,959 | 4,195 |
Provision for loan losses | 802 | (214) | 2,264 | (272) |
Loans charged off | (11) | (596) | (63) | (1,970) |
Recoveries | 19 | 15 | 114 | 47 |
Balance | 4,274 | 2,000 | 4,274 | 2,000 |
Commercial and Industrial Portfolio Segment [Member] | ||||
Balance | 1,416 | 2,287 | 2,589 | 1,602 |
Provision for loan losses | 149 | 205 | (1,035) | 697 |
Loans charged off | (587) | (587) | (24) | |
Recoveries | 1 | 11 | 12 | 228 |
Balance | 979 | 2,503 | 979 | 2,503 |
Consumer Portfolio Segment [Member] | ||||
Balance | 1,148 | 1,132 | 1,013 | 1,111 |
Provision for loan losses | 529 | 164 | 1,089 | 541 |
Loans charged off | (704) | (309) | (1,540) | (1,016) |
Recoveries | 298 | 169 | 709 | 520 |
Balance | 1,271 | 1,156 | 1,271 | 1,156 |
Balance | 6,934 | 7,444 | 6,648 | 8,334 |
Provision for loan losses | 1,708 | (11) | 2,328 | 710 |
Loans charged off | (1,453) | (945) | (2,512) | (3,273) |
Recoveries | 348 | 414 | 1,073 | 1,131 |
Balance | $ 7,537 | $ 6,902 | $ 7,537 | $ 6,902 |
Note 5 - Loans and Allowance 40
Note 5 - Loans and Allowance for Loan Losses - Allowance for Loan Losses and the Recorded Investment of Loans Based On Impairment Method (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Residential Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 1,013 | 1,087 | ||||
Total ending allowance balance | 1,013 | $ 906 | 1,087 | $ 1,243 | $ 1,230 | $ 1,426 |
Loans individually evaluated for impairment | 724 | 1,001 | ||||
Loans collectively evaluated for impairment | 272,611 | 222,874 | ||||
Total ending loans balance | 273,335 | 223,875 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 2,705 | 311 | ||||
Collectively evaluated for impairment | 1,569 | 1,648 | ||||
Total ending allowance balance | 4,274 | 3,464 | 1,959 | 2,000 | 2,795 | 4,195 |
Loans individually evaluated for impairment | 13,391 | 7,318 | ||||
Loans collectively evaluated for impairment | 202,230 | 161,994 | ||||
Total ending loans balance | 215,621 | 169,312 | ||||
Commercial and Industrial Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 245 | 1,850 | ||||
Collectively evaluated for impairment | 734 | 739 | ||||
Total ending allowance balance | 979 | 1,416 | 2,589 | 2,503 | 2,287 | 1,602 |
Loans individually evaluated for impairment | 9,099 | 8,691 | ||||
Loans collectively evaluated for impairment | 88,093 | 73,245 | ||||
Total ending loans balance | 97,192 | 81,936 | ||||
Consumer Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 2 | 3 | ||||
Collectively evaluated for impairment | 1,269 | 1,010 | ||||
Total ending allowance balance | 1,271 | 1,148 | 1,013 | 1,156 | 1,132 | 1,111 |
Loans individually evaluated for impairment | 216 | 218 | ||||
Loans collectively evaluated for impairment | 135,223 | 110,411 | ||||
Total ending loans balance | 135,439 | 110,629 | ||||
Individually evaluated for impairment | 2,952 | 2,164 | ||||
Collectively evaluated for impairment | 4,585 | 4,484 | ||||
Total ending allowance balance | 7,537 | $ 6,934 | 6,648 | $ 6,902 | $ 7,444 | $ 8,334 |
Loans individually evaluated for impairment | 23,430 | 17,228 | ||||
Loans collectively evaluated for impairment | 698,157 | 568,524 | ||||
Total ending loans balance | $ 721,587 | $ 585,752 |
Note 5 - Loans and Allowance 41
Note 5 - Loans and Allowance for Loan Losses - Loans Individually Evaluated for Impairment (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Residential Portfolio Segment [Member] | |||||
Unpaid principal balance with no allowance | $ 724,000 | $ 724,000 | $ 1,001,000 | ||
Recorded investment with no allowance | 724,000 | 724,000 | 1,001,000 | ||
Average impaired loans with allowance | $ 1,005 | $ 761 | |||
Interest income recognized with allowance | 11 | 36 | |||
Cash basis interest recognized with allowance | 11 | 36 | |||
Average impaired loans with no allowance | 725,000 | 895,000 | 728,000 | 895,000 | |
Interest income recognized with no allowance | 4,000 | 20,000 | |||
Cash basis interest recognized with no allowance | 4 | 20 | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | |||||
Unpaid principal balance with allowance | 5,918,000 | 5,918,000 | 204,000 | ||
Recorded investment with allowance | 5,918,000 | 5,918,000 | 204,000 | ||
Allowance for loan losses allocated | 2,603,000 | 2,603,000 | 204,000 | ||
Unpaid principal balance with no allowance | 3,291,000 | 3,291,000 | 3,812,000 | ||
Recorded investment with no allowance | 2,744,000 | 2,744,000 | 3,265,000 | ||
Average impaired loans with allowance | 5,427,000 | 204,000 | 2,815,000 | 204,000 | |
Interest income recognized with allowance | 94,000 | 11,000 | 241,000 | 11,000 | |
Cash basis interest recognized with allowance | 94,000 | 11,000 | 241,000 | 11,000 | |
Average impaired loans with no allowance | 2,797,000 | 2,873,000 | 2,879,000 | 2,617,000 | |
Interest income recognized with no allowance | 37,000 | 74,000 | 120,000 | 135,000 | |
Cash basis interest recognized with no allowance | 37,000 | 74,000 | 120,000 | 135,000 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | |||||
Unpaid principal balance with allowance | 387,000 | 387,000 | 396,000 | ||
Recorded investment with allowance | 387,000 | 387,000 | 396,000 | ||
Allowance for loan losses allocated | 102,000 | 102,000 | 107,000 | ||
Unpaid principal balance with no allowance | 5,614,000 | 5,614,000 | 5,178,000 | ||
Recorded investment with no allowance | 3,798,000 | 3,798,000 | 2,773,000 | ||
Average impaired loans with allowance | 389,000 | 401,000 | 392,000 | 404,000 | |
Interest income recognized with allowance | 5,000 | 5,000 | 15,000 | 70,000 | |
Cash basis interest recognized with allowance | 5,000 | 5,000 | 15,000 | 70,000 | |
Average impaired loans with no allowance | 3,680,000 | 2,910,000 | 3,557,000 | 3,605,000 | |
Interest income recognized with no allowance | 33,000 | 12,000 | 75,000 | 37,000 | |
Cash basis interest recognized with no allowance | 33,000 | 12,000 | 75,000 | 37,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Unpaid principal balance with no allowance | 641,000 | 641,000 | 680,000 | ||
Recorded investment with no allowance | 544,000 | 544,000 | 680,000 | ||
Average impaired loans with no allowance | 363,000 | 680,000 | 521,000 | 510,000 | |
Interest income recognized with no allowance | 11,000 | 108,000 | |||
Cash basis interest recognized with no allowance | 11,000 | 108,000 | |||
Commercial and Industrial Portfolio Segment [Member] | |||||
Unpaid principal balance with allowance | 391,000 | 391,000 | 4,355,000 | ||
Recorded investment with allowance | 391,000 | 391,000 | 4,355,000 | ||
Allowance for loan losses allocated | 245,000 | 245,000 | 1,850,000 | ||
Unpaid principal balance with no allowance | 8,708,000 | 8,708,000 | 4,336,000 | ||
Recorded investment with no allowance | 8,708,000 | 8,708,000 | 4,336,000 | ||
Average impaired loans with allowance | 391,000 | 3,589,000 | 391,000 | 3,343,000 | |
Interest income recognized with allowance | 52,000 | 117,000 | |||
Cash basis interest recognized with allowance | 52,000 | 117,000 | |||
Average impaired loans with no allowance | 8,575,000 | 3,800,000 | 8,234,000 | 3,897,000 | |
Interest income recognized with no allowance | 103,000 | 26,000 | 290,000 | 133,000 | |
Cash basis interest recognized with no allowance | 103,000 | 26,000 | 290,000 | 133,000 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Unpaid principal balance with allowance | 216,000 | 216,000 | 218,000 | ||
Recorded investment with allowance | 216,000 | 216,000 | 218,000 | ||
Allowance for loan losses allocated | 2,000 | 2,000 | 3,000 | ||
Average impaired loans with allowance | 217,000 | 218,000 | 218,000 | 219,000 | |
Interest income recognized with allowance | 1,000 | 2,000 | 5,000 | 6,000 | |
Cash basis interest recognized with allowance | 1,000 | 2,000 | 5,000 | 6,000 | |
Allowance for loan losses allocated | 2,952,000 | 2,952,000 | 2,164,000 | ||
Unpaid principal balance | 25,890,000 | 25,890,000 | 20,180,000 | ||
Recorded investment | 23,430,000 | 23,430,000 | $ 17,228,000 | ||
Average impaired loans | 22,564,000 | 16,575,000 | 19,735,000 | 16,455,000 | |
Interest income recognized | 288,000 | 193,000 | 874,000 | 545,000 | |
Cash basis interest recognized | $ 288,000 | $ 193,000 | $ 874,000 | $ 545,000 |
Note 5 - Loans and Allowance 42
Note 5 - Loans and Allowance for Loan Losses - Nonaccrual Loans and Loans Past Due 90 Days Or More and Still Accruing (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Residential Portfolio Segment [Member] | ||
Loans past due 90 days and still accruing | $ 152 | $ 20 |
Nonaccrual | 3,387 | 2,048 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans past due 90 days and still accruing | 207 | |
Nonaccrual | 1,575 | 404 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans past due 90 days and still accruing | ||
Nonaccrual | 2,711 | 2,737 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans past due 90 days and still accruing | ||
Nonaccrual | 544 | 769 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans past due 90 days and still accruing | ||
Nonaccrual | 661 | 1,152 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans past due 90 days and still accruing | 53 | 18 |
Nonaccrual | 16 | 27 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans past due 90 days and still accruing | ||
Nonaccrual | 35 | 96 |
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans past due 90 days and still accruing | 31 | 1 |
Nonaccrual | 98 | 3 |
Loans past due 90 days and still accruing | 443 | 39 |
Nonaccrual | $ 9,027 | $ 7,236 |
Note 5 - Loans and Allowance 43
Note 5 - Loans and Allowance for Loan Losses - Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans past due | $ 4,355 | $ 2,564 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans past due | 162 | 141 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans past due | 226 | 35 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans past due | 414 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans past due | 370 | 31 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans past due | 1,030 | 727 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans past due | 174 | 75 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans past due | 1,120 | 420 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 7,851 | 3,993 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans past due | 1,677 | 1,484 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans past due | 338 | 33 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans past due | 316 | 334 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans past due | 2 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans past due | 230 | 88 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans past due | 228 | 197 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans past due | 199 | 104 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 2,988 | 2,242 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans past due | 2,164 | 1,708 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans past due | 1,508 | 371 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans past due | 2,235 | 2,737 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans past due | 182 | 769 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans past due | 602 | 1,077 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans past due | 63 | 36 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans past due | 76 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans past due | 56 | 4 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 6,810 | 6,778 |
Residential Portfolio Segment [Member] | ||
Loans past due | 8,196 | 5,756 |
Loans, current | 265,139 | 218,119 |
Loans | 273,335 | 223,875 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans past due | 2,008 | 545 |
Loans, current | 80,196 | 72,913 |
Loans | 82,204 | 73,458 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans past due | 2,777 | 3,106 |
Loans, current | 96,146 | 68,896 |
Loans | 98,923 | 72,002 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans past due | 596 | 771 |
Loans, current | 33,898 | 23,081 |
Loans | 34,494 | 23,852 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 215,621 | 169,312 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans past due | 1,202 | 1,196 |
Loans, current | 95,990 | 80,740 |
Loans | 97,192 | 81,936 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans past due | 1,321 | 960 |
Loans, current | 57,038 | 43,606 |
Loans | 58,359 | 44,566 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans past due | 174 | 151 |
Loans, current | 19,985 | 20,690 |
Loans | 20,159 | 20,841 |
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans past due | 1,375 | 528 |
Loans, current | 55,546 | 44,694 |
Loans | 56,921 | 45,222 |
Consumer Portfolio Segment [Member] | ||
Loans | 135,439 | 110,629 |
Loans past due | 17,649 | 13,013 |
Loans, current | 703,938 | 572,739 |
Loans | $ 721,587 | $ 585,752 |
Note 5 - Loans and Allowance 44
Note 5 - Loans and Allowance for Loan Losses - TDR Loan Modifications (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Interest Only Payments [Member] | ||
Troubled Debt Restructuring | $ 724 | $ 1,001 |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Interest Only Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 433 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 300 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 396 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Reduction of Principal and Interest Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 604 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 1,996 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 204 | |
Performing Financial Instruments [Member] | Commercial and Industrial Portfolio Segment [Member] | Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 7,750 | |
Performing Financial Instruments [Member] | Commercial and Industrial Portfolio Segment [Member] | Interest Only Payments [Member] | ||
Troubled Debt Restructuring | 7,579 | |
Performing Financial Instruments [Member] | Commercial and Industrial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 957 | |
Performing Financial Instruments [Member] | Commercial and Industrial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | ||
Troubled Debt Restructuring | 226 | |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Extended Maturity [Member] | Home Equity Loan [Member] | ||
Troubled Debt Restructuring | 216 | 218 |
Performing Financial Instruments [Member] | Interest Only Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 316 | |
Performing Financial Instruments [Member] | Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 600 | |
Performing Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 387 | |
Performing Financial Instruments [Member] | Reduction of Principal and Interest Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 586 | |
Performing Financial Instruments [Member] | Extended Maturity [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 1,610 | |
Performing Financial Instruments [Member] | Interest Rate Below Market Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 204 | |
Performing Financial Instruments [Member] | Interest Rate Below Market Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 574 | |
Performing Financial Instruments [Member] | ||
Troubled Debt Restructuring | 13,924 | 12,957 |
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 2,473 | |
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 232 | |
Nonperforming Financial Instruments [Member] | Commercial and Industrial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 392 | |
Nonperforming Financial Instruments [Member] | Commercial and Industrial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | ||
Troubled Debt Restructuring | 391 | |
Nonperforming Financial Instruments [Member] | Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 2,374 | |
Nonperforming Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 232 | |
Nonperforming Financial Instruments [Member] | ||
Troubled Debt Restructuring | 2,998 | 3,096 |
Residential Portfolio Segment [Member] | Interest Only Payments [Member] | ||
Troubled Debt Restructuring | 724 | 1,001 |
Commercial Real Estate Portfolio Segment [Member] | Interest Only Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 433 | |
Commercial Real Estate Portfolio Segment [Member] | Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 2,773 | |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 232 | |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 396 | |
Commercial Real Estate Portfolio Segment [Member] | Reduction of Principal and Interest Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 604 | |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 1,996 | |
Commercial Real Estate Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 204 | |
Commercial and Industrial Portfolio Segment [Member] | Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 7,750 | |
Commercial and Industrial Portfolio Segment [Member] | Interest Only Payments [Member] | ||
Troubled Debt Restructuring | 7,579 | |
Commercial and Industrial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 1,349 | |
Commercial and Industrial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | ||
Troubled Debt Restructuring | 617 | |
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | Home Equity Loan [Member] | ||
Troubled Debt Restructuring | 216 | 218 |
Interest Only Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 316 | |
Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 2,974 | |
Contractual Interest Rate Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 232 | |
Contractual Interest Rate Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 387 | |
Reduction of Principal and Interest Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 586 | |
Extended Maturity [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 1,610 | |
Interest Rate Below Market Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Troubled Debt Restructuring | 204 | |
Interest Rate Below Market Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Troubled Debt Restructuring | 574 | |
Troubled Debt Restructuring | $ 16,922 | $ 16,053 |
Note 5 - Loans and Allowance 45
Note 5 - Loans and Allowance for Loan Losses - TDRs Pre-Modification and Post-Modification (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Interest Only Payments [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | $ 495 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 495 | ||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 495 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 495 | ||
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Interest Only Payments [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | |||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | |||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | |||
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | Commercial Real Estate Owner Occupied [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | $ 1,025 | 1,025 | |
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 1,025 | 1,025 | |
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 1,025 | 1,025 | |
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 1,025 | 1,025 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 574 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 574 | ||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 574 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 574 | ||
Performing Financial Instruments [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 1,025 | 574 | 1,520 |
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 1,025 | 574 | 1,520 |
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 1,025 | 574 | 1,520 |
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 1,025 | 574 | 1,520 |
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Interest Only Payments [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 226 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 226 | ||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 226 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 226 | ||
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | Commercial Real Estate Owner Occupied [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | |||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | |||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | |||
Nonperforming Financial Instruments [Member] | |||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 226 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | 226 | ||
TDR’s Performing to Modified Terms Pre- Modification Recorded Investment | 226 | ||
TDR’s Performing to Modified Terms Post- Modification Recorded Investment | $ 226 |
Note 5 - Loans and Allowance 46
Note 5 - Loans and Allowance for Loan Losses - Risk Category of Commercial Loans by Class of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans receivable | $ 72,943 | $ 62,287 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans receivable | 88,613 | 61,577 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 33,951 | 23,080 |
Pass [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans receivable | 94,011 | 70,852 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 289,518 | 217,796 |
Criticized [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans receivable | 370 | 6,738 |
Criticized [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans receivable | 367 | 6,305 |
Criticized [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | ||
Criticized [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans receivable | 5,232 | |
Criticized [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 737 | 18,275 |
Classified [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans receivable | 8,891 | 4,433 |
Classified [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans receivable | 9,943 | 4,120 |
Classified [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 543 | 772 |
Classified [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Loans receivable | 3,181 | 5,852 |
Classified [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 22,558 | 15,177 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Loans receivable | 82,204 | 73,458 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Loans receivable | 98,923 | 72,002 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 34,494 | 23,852 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 215,621 | 169,312 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans receivable | 97,192 | 81,936 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 312,813 | 251,248 |
Loans receivable | $ 721,587 | $ 585,752 |
Note 5 - Loans and Allowance 47
Note 5 - Loans and Allowance for Loan Losses - Recorded Investment of Residential and Consumer Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans receivable | $ 58,290 | $ 44,521 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans receivable | 20,124 | 20,745 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans receivable | 56,792 | 45,218 |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 269,796 | 221,807 |
Performing Financial Instruments [Member] | Consumer and Residential Portfolio Segment [Member] | ||
Loans receivable | 405,002 | 332,291 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans receivable | 69 | 45 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans receivable | 35 | 96 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans receivable | 129 | 4 |
Nonperforming Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 3,539 | 2,068 |
Nonperforming Financial Instruments [Member] | Consumer and Residential Portfolio Segment [Member] | ||
Loans receivable | 3,772 | 2,213 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans receivable | 58,359 | 44,566 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans receivable | 20,159 | 20,841 |
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans receivable | 56,921 | 45,222 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 135,439 | 110,629 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 273,335 | 223,875 |
Consumer and Residential Portfolio Segment [Member] | ||
Loans receivable | 408,774 | 334,504 |
Loans receivable | $ 721,587 | $ 585,752 |
Note 6 - Financial Instrument48
Note 6 - Financial Instruments with Off-balance Sheet (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $ 67,556 | $ 62,415 |
Note 7 - Other Borrowed Funds49
Note 7 - Other Borrowed Funds (Details Textual) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank Advances [Member] | ||
Capital Lease Obligations | $ 84,000 | $ 117,000 |
Residential Mortgage [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 263,867,000 | |
Commercial Loan [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 80,092,000 | |
FHLB Stock [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 5,365,000 | |
Minimum [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.34% | |
Debt Instrument, Interest Rate, Stated Percentage | 1.25% | |
Maximum [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 3.31% | |
Debt Instrument, Interest Rate, Stated Percentage | 4.09% | |
Weighted Average [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.08% | |
FHLB Line of Credit [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 75,000,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 75,000,000 | |
Letters of Credit Outstanding, Amount | 47,000,000 | $ 34,800,000 |
Federal Home Loan Bank, Advances, Maturities Summary, Floating Rate | 0 | |
Federal Home Loan Bank, Advances, Maturities Summary, Fixed Rate | 26,663,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 189,639,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 115,976,000 | |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | $ 75,000,000 | |
Debt, Weighted Average Interest Rate | 2.05% | 1.38% |
Notes Payable, Related Parties | $ 360,000 | |
Notes Payable to Bank | $ 5,000,000 |
Note 7 - Other Borrowed Funds -
Note 7 - Other Borrowed Funds - Other Borrowed Funds (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank Advances [Member] | ||
Other borrowed funds | $ 26,747 | $ 20,028 |
Promissory Notes [Member] | ||
Other borrowed funds | 8,918 | 3,918 |
Other borrowed funds | $ 35,665 | $ 23,946 |
Note 7 - Other Borrowed Funds51
Note 7 - Other Borrowed Funds - Scheduled Principal Payments (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank Advances [Member] | ||
2,016 | $ 585 | |
2,017 | 5,022 | |
2,018 | 1,967 | |
2,019 | 1,906 | |
2,020 | 1,817 | |
Thereafter | 15,450 | |
26,747 | $ 20,028 | |
Promissory Notes [Member] | ||
2,016 | 1,905 | |
2,017 | 2,019 | |
2,018 | 946 | |
2,019 | 453 | |
2,020 | 471 | |
Thereafter | 3,124 | |
8,918 | 3,918 | |
2,016 | 2,490 | |
2,017 | 7,041 | |
2,018 | 2,913 | |
2,019 | 2,359 | |
2,020 | 2,288 | |
Thereafter | 18,574 | |
$ 35,665 | $ 23,946 |
Note 8 - Segment Information (D
Note 8 - Segment Information (Details Textual) | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Banking [Member] | ||
Concentration Risk, Percentage | 90.90% | 90.20% |
Note 8 - Segment Information -
Note 8 - Segment Information - Segment Reporting (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Aug. 05, 2016 | Dec. 31, 2015 | |
Banking [Member] | ||||||
Net interest income | $ 8,396 | $ 7,627 | $ 23,684 | $ 22,690 | ||
Provision for loan losses | 1,675 | 10 | 2,180 | 685 | ||
Noninterest income | 1,655 | 1,522 | 6,220 | 6,351 | ||
Noninterest expense | 8,167 | 7,106 | 22,460 | 20,679 | ||
Tax expense (benefit) | (193) | 471 | 975 | 1,834 | ||
Net income (loss) | 402 | 1,562 | 4,289 | 5,843 | ||
Assets | 957,889 | 795,458 | 957,889 | 795,458 | ||
Consumer Finance [Member] | ||||||
Net interest income | 589 | 658 | 2,607 | 2,674 | ||
Provision for loan losses | 33 | (21) | 148 | 25 | ||
Noninterest income | 38 | 62 | 569 | 639 | ||
Noninterest expense | 661 | 621 | 2,110 | 2,029 | ||
Tax expense (benefit) | (23) | 40 | 311 | 426 | ||
Net income (loss) | (44) | 80 | 607 | 833 | ||
Assets | 12,341 | 13,008 | 12,341 | 13,008 | ||
Net interest income | 8,985 | 8,285 | 26,291 | 25,364 | ||
Provision for loan losses | 1,708 | (11) | 2,328 | 710 | ||
Noninterest income | 1,693 | 1,584 | 6,789 | 6,990 | ||
Noninterest expense | 8,828 | 7,727 | 24,570 | 22,708 | ||
Tax expense (benefit) | (216) | 511 | 1,286 | 2,260 | ||
Net income (loss) | 358 | 1,642 | 4,896 | 6,676 | ||
Assets | $ 970,230 | $ 808,466 | $ 970,230 | $ 808,466 | $ 950,000 | $ 796,285 |