Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 05, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | UWHR | |
Entity Registrant Name | UWHARRIE CAPITAL CORP | |
Entity Central Index Key | 898,171 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 7,019,604 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 6,629 | $ 7,538 |
Interest-earning deposits with banks | 110,097 | 62,865 |
Securities available for sale, at fair value | 92,471 | 95,743 |
Securities held to maturity, at amortized cost (fair value $10,728 and $11,461, respectively) | 10,871 | 11,458 |
Loans held for sale | 1,946 | 4,414 |
Loans: | ||
Loans held for investment | 377,738 | 356,871 |
Less allowance for loan losses | (2,365) | (2,458) |
Net loans held for investment | 375,373 | 354,413 |
Premises and equipment, net | 14,849 | 14,728 |
Interest receivable | 1,681 | 1,709 |
Restricted stock | 1,094 | 1,067 |
Bank owned life insurance | 8,642 | 8,546 |
Other real estate owned | 1,086 | 2,349 |
Prepaid assets | 708 | 786 |
Other assets | 11,943 | 10,742 |
Total assets | 637,390 | 576,358 |
Deposits: | ||
Demand noninterest-bearing | 137,203 | 113,762 |
Interest checking and money market accounts | 322,730 | 289,953 |
Savings deposits | 56,802 | 45,698 |
Time deposits, $250,000 and over | 6,848 | 7,933 |
Other time deposits | 49,959 | 55,282 |
Total deposits | 573,542 | 512,628 |
Short-term borrowed funds | 1,305 | 1,752 |
Long-term debt | 9,934 | 9,534 |
Interest payable | 12 | 148 |
Other liabilities | 8,888 | 7,756 |
Total liabilities | 593,681 | 531,818 |
Off balance sheet items, commitments and contingencies (Note 9) | ||
SHAREHOLDERS’ EQUITY | ||
Common stock, $1.25 par value: 20,000,000 shares authorized; shares issued and outstanding 7,019,604 and 7,112,853 | 8,774 | 8,891 |
Preferred stock, 10,000,000 shares authorized; none issued and outstanding | ||
Additional paid-in capital | 12,414 | 12,824 |
Undivided profits | 14,198 | 13,282 |
Accumulated other comprehensive loss | (2,332) | (1,107) |
Total Uwharrie Capital shareholders’ equity | 33,054 | 33,890 |
Noncontrolling interest | 10,655 | 10,650 |
Total shareholders’ equity | 43,709 | 44,540 |
Total liabilities and shareholders’ equity | $ 637,390 | $ 576,358 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Securities held for sale, at amortized cost, fair value | $ 10,728 | $ 11,461 |
Common stock, par value | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 7,019,604 | 7,112,853 |
Common stock, shares outstanding | 7,019,604 | 7,112,853 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest Income | ||||
Loans, including fees | $ 4,680 | $ 4,214 | $ 13,405 | $ 12,336 |
Investment securities | ||||
US Treasury | 12 | 5 | 12 | 28 |
US Government agencies and corporations | 304 | 369 | 1,055 | 1,122 |
State and political subdivisions | 119 | 121 | 363 | 361 |
Interest-earning deposits with banks and federal funds sold | 539 | 258 | 1,181 | 520 |
Total interest income | 5,654 | 4,967 | 16,016 | 14,367 |
Interest Expense | ||||
Interest checking and money market accounts | 269 | 113 | 605 | 295 |
Savings deposits | 38 | 12 | 63 | 37 |
Time deposits, $250,000 and over | 10 | 16 | 43 | 46 |
Other time deposits | 55 | 51 | 147 | 143 |
Short-term borrowed funds | 5 | 1 | 12 | 14 |
Long-term debt | 138 | 138 | 411 | 410 |
Total interest expense | 515 | 331 | 1,281 | 945 |
Net interest income | 5,139 | 4,636 | 14,735 | 13,422 |
Provision for (recovery of) loan losses | (24) | (136) | 92 | (309) |
Net interest income after provision (recovery of) for loan losses | 5,163 | 4,772 | 14,643 | 13,731 |
Noninterest Income | ||||
Service charges on deposit accounts | 292 | 299 | 865 | 874 |
Loss on sale of securities (includes reclassification of $0, ($14,000), $0, and ($14,000) from accumulated other comprehensive income) | (14) | (14) | ||
Income from mortgage loan sales | 730 | 790 | 2,261 | 2,539 |
Other income | 119 | 219 | 504 | 571 |
Total noninterest income | 1,981 | 2,049 | 6,046 | 6,450 |
Noninterest Expense | ||||
Salaries and employee benefits | 4,074 | 3,647 | 12,141 | 10,987 |
Net occupancy expense | 447 | 327 | 1,207 | 938 |
Equipment expense | 220 | 151 | 555 | 451 |
Data processing costs | 206 | 429 | 739 | 789 |
Office supplies and printing | 59 | 27 | 134 | 89 |
Foreclosed real estate expense | 13 | 48 | 85 | 312 |
Professional fees and services | 280 | 223 | 742 | 570 |
Marketing and donations | 196 | 251 | 616 | 737 |
Electronic banking expense | 98 | 93 | 297 | 263 |
Software amortization and maintenance | 239 | 198 | 686 | 569 |
FDIC insurance | 54 | 76 | 185 | 167 |
Other noninterest expense | 503 | 504 | 1,710 | 1,643 |
Total noninterest expense | 6,389 | 5,974 | 19,097 | 17,515 |
Income before income taxes | 755 | 847 | 1,592 | 2,666 |
Income taxes (includes reclassification of $0, ($5,000), $0, and ($5,000) from accumulated other comprehensive income) | 112 | 259 | 248 | 829 |
Net income | 643 | 588 | 1,344 | 1,837 |
Less: net income attributable to noncontrolling interest | (144) | (148) | (428) | (442) |
Net income attributable to Uwharrie Capital Corp and common shareholders | $ 499 | $ 440 | $ 916 | $ 1,395 |
Net income (loss) per common share | ||||
Basic | $ 0.07 | $ 0.06 | $ 0.13 | $ 0.20 |
Diluted | $ 0.07 | $ 0.06 | $ 0.13 | $ 0.20 |
Weighted average shares outstanding | ||||
Basic | 7,095,120 | 7,118,720 | 7,104,841 | 7,148,405 |
Diluted | 7,095,120 | 7,119,585 | 7,104,841 | 7,149,021 |
Interchange and Card Transactions [Member] | ||||
Noninterest Income | ||||
Noninterest income fees | $ 190 | $ 149 | $ 476 | $ 486 |
Other Services and Commissions [Member] | ||||
Noninterest Income | ||||
Noninterest income fees | $ 650 | $ 606 | $ 1,940 | $ 1,994 |
Consolidated Statements of In_2
Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement [Abstract] | ||||
Reclassification from accumulated other comprehensive income | $ 0 | $ (14) | $ 0 | $ (14) |
Tax effect on amount reclassified from accumulated other comprehensive income | $ 0 | $ (5) | $ 0 | $ (5) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net Income | $ 643 | $ 588 | $ 1,344 | $ 1,837 |
Unrealized gain (loss) on available for sale securities | (346) | 40 | (1,587) | 884 |
Related tax effect | 80 | (14) | 362 | (301) |
Reclassification of loss recognized in net income | 0 | 14 | 0 | 14 |
Related tax effect | 0 | (5) | 0 | (5) |
Total other comprehensive income (loss) | (266) | 35 | (1,225) | 592 |
Comprehensive income (loss) | 377 | 623 | 119 | 2,429 |
Less: Comprehensive income (loss) attributable to noncontrolling interest | (144) | (148) | (428) | (442) |
Comprehensive income (loss) attributable to Uwharrie Capital | $ 233 | $ 475 | $ (309) | $ 1,987 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Number of Common Shares Issued [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
Net Income | $ 1,837 | ||||||
Other comprehensive Income | 592 | ||||||
Net Income | 588 | ||||||
Other comprehensive Income | 35 | ||||||
Beginning balance at Dec. 31, 2017 | 44,540 | $ 8,891 | $ 12,824 | $ 13,282 | $ (1,107) | $ 10,650 | |
Beginning balance, shares at Dec. 31, 2017 | 7,112,853 | ||||||
Net Income | 1,344 | 916 | 428 | ||||
Repurchase of common stock | (592) | (133) | (459) | ||||
Repurchase of common stock, shares | (106,627) | ||||||
Stock options exercised | 65 | 16 | 49 | ||||
Stock options exercised, shares | 13,378 | ||||||
Other comprehensive Income | (1,225) | (1,225) | |||||
Record preferred stock dividend Series B (noncontrolling interest) | (312) | (312) | |||||
Record preferred stock dividend Series C (noncontrolling interest) | (111) | (111) | |||||
Ending balance at Sep. 30, 2018 | 43,709 | 8,774 | 12,414 | 14,198 | (2,332) | 10,655 | |
Ending balance, shares at Sep. 30, 2018 | 7,019,604 | ||||||
Net Income | 643 | ||||||
Other comprehensive Income | (266) | ||||||
Ending balance at Sep. 30, 2018 | $ 43,709 | $ 8,774 | $ 12,414 | $ 14,198 | $ (2,332) | $ 10,655 | |
Ending balance, shares at Sep. 30, 2018 | 7,019,604 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities | ||
Net Income | $ 1,344 | $ 1,837 |
Adjustments to reconcile net income to net cash Provided (used) by operating activities: | ||
Depreciation and amortization | 792 | 636 |
Provision for (recovery of) loan losses | 92 | (309) |
Loss on sale of securities available for sale | 14 | |
Loss on sale of OREO | 35 | 31 |
Net amortization of premium on investment securities AFS | 660 | 665 |
Net amortization of premium on investment securities HTM | 112 | 112 |
Net amortization of mortgage servicing rights | 513 | 557 |
OREO write downs | 92 | |
Originations and purchases of mortgage loans for sale | (67,516) | (70,968) |
Proceeds from sales of mortgage loans for sale | 69,471 | 73,509 |
Cash surrender value of life insurance | (96) | (92) |
Net change in: | ||
Accrued interest receivable | 28 | 113 |
Prepaid assets | 78 | (174) |
Miscellaneous other assets | (834) | (495) |
Accrued interest payable | (136) | |
Miscellaneous other liabilities | 1,132 | 1,439 |
Net cash provided by operating activities | 5,675 | 6,967 |
Cash flows from investing activities | ||
Proceeds from sales of investment securities available for sale | 8,918 | |
Proceeds from maturities, calls & paydowns of investment securities held to maturity | 475 | 385 |
Proceeds from maturities, calls & paydowns of investment securities available for sale | 6,025 | 5,823 |
Purchase of investment securities available for sale | (5,000) | (6,338) |
Purchase of life insurance investment | (1,525) | |
Net change in restricted stock | (27) | (16) |
Net increase in loans | (21,212) | (8,401) |
Purchase of premises and equipment | (913) | (765) |
Proceeds from sale of OREO | 1,388 | 1,733 |
Net cash used by investing activities | (19,264) | (186) |
Cash flows from financing activities | ||
Net increase in deposit accounts | 60,914 | 41,534 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase and other short-term borrowings | (447) | (380) |
Proceeds from long-term borrowings | 400 | |
Repayment of other borrowings | (506) | |
Common stock repurchased | (592) | (372) |
Exercise of stock options | 65 | |
Dividends paid on preferred stock | (428) | (442) |
Net cash provided by financing activities | 59,912 | 39,834 |
Increase in cash and cash equivalents | 46,323 | 46,615 |
Cash and cash equivalents, beginning of period | 70,403 | 45,968 |
Cash and cash equivalents, end of period | 116,726 | 92,583 |
Supplemental Disclosures of Cash Flow Information | ||
Interest paid | 1,417 | 946 |
Income taxes paid | 340 | 660 |
Supplemental Schedule of Non-Cash Activities | ||
Net change in fair value securities available for sale, net of tax | (1,225) | 592 |
Loans transferred to foreclosed real estate | 160 | 361 |
Mortgage servicing rights capitalized | $ 240 | $ 451 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Note 1 – Basis of Presentation The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc., and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly-owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management is not aware of economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2017 Annual Report on Form 10-K. This Quarterly Report should be read in conjunction with such Annual Report. Accounting Changes, Reclassifications and Restatements Certain items in prior financial statements have been reclassified to conform to the current presentation. ASU 2014-09. “Revenue from Contracts with Customers (Topic 606)” was adopted as of January 1, 2018. ASU 2014-09 requires us to report network costs associated with debit card and credit card transactions netted against the related fees from such transactions. Previously, such network costs were reported as a component of other non-interest expense. For the three months and nine months ended September 30, 2018, gross interchange and card transaction fees totaled $437,000 and $1.2 million, respectively, while related network costs totaled $247,000 and $765,000, respectively. On a net basis, we reported $190,000 as interchange and card transaction fees in the accompanying Consolidated Statement of Income for the three months ended September 30, 2018 and $476,000 for the nine months ended September 30, 2018. For the three and nine months ended September 30, 2017, we reported interchange and card transaction fees totaling $381,000 and $1.2 million, respectively, on a gross basis in the accompanying Consolidated Statement of Income while related network costs totaling $232,000 and $679,000, respectively, were reported as a component of other non-interest expense. Interchange and card transaction fees, net of costs, were re-classed in 2018 to report net $149,000 for the three months ended September 30, 2017 and $486,000 for the nine months ended September 30, 2017. Under ASU 2014-09, for revenue not associated with financial instruments, guarantees and lease contracts, we apply the following steps when recognizing revenue from contracts with customers: (i) identify the contract, (ii) identify the performance obligations, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations and (v) recognize revenue when the performance obligation is satisfied. Our contracts with customers are generally short-term in nature, typically due within one year or less or cancellable by us or our customer upon a short notice period. Performance obligations for our customer contracts are generally satisfied at a single point in time, typically when the transaction is complete, or over time. For performance obligations satisfied over time, we primarily use the output method, directly measuring the value of the products/services transferred to the customer, to determine when performance obligations have been satisfied. We typically receive payment from customers and recognize revenue concurrent with the satisfaction of our performance obligations. In most cases, this occurs within a single financial reporting period. For payments received in advance of the satisfaction of performance obligations, revenue recognition is deferred until such time as the performance obligations have been satisfied. In cases where we have not received payment despite satisfaction of our performance obligations, we accrue an estimate of the amount due in the period our performance obligations have been satisfied. For contracts with variable components, only amounts for which collection is probable are accrued. We generally act in a principal capacity, on our own behalf, in most of our contracts with customers. In such transactions, we recognize revenue and the related costs to provide our services on a gross basis in our financial statements. In some cases, we act in an agent capacity, deriving revenue through assisting other entities in transactions with our customers. In such transactions, we recognized revenue and the related costs to provide our services on a net basis in our financial statements. These transactions primarily relate to insurance and brokerage commissions and fees derived from our customers' use of various interchange and ATM/debit card/credit card networks. Use of Estimates The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Comprehensive Income
Comprehensive Income | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Comprehensive Income | Note 2 – Comprehensive Income The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale. The following table presents the changes in accumulated other comprehensive income for the three and nine months ended September 30, 2018 and 2017: Unrealized holding gains on available-for-sale securities (net) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Beginning Balance $ (2,066 ) $ (761 ) $ (1,107 ) $ (1,318 ) Other Comprehensive income (loss) before reclassifications, net of ($80,000), $14,000, ($362,000), and $301,000 tax effect, respectively (266 ) 26 (1,225 ) 583 Amounts reclassified from accumulated other comprehensive income net of $0, $5,000, $0, and $5,000 tax effect, respectively — 9 — 9 Net current-period other comprehensive income (loss) (266 ) 35 (1,225 ) 592 Ending Balance $ (2,332 ) $ (726 ) $ (2,332 ) $ (726 ) |
Noncontrolling Interest
Noncontrolling Interest | 9 Months Ended |
Sep. 30, 2018 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest | Note 3 – Noncontrolling Interest In January 2013, the Company’s subsidiary banks issued a total of $7.9 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series B. The preferred stock qualified as Tier 1 capital at each bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. This capital is presented as noncontrolling interest in the consolidated balance sheets. Dividends declared on this preferred stock are presented as earnings allocated to the noncontrolling interest in the consolidated statements of income. Effective September 1, 2013, the Fixed Rate Noncumulative Perpetual Preferred Stock, Series B was rolled into one issue under Uwharrie Bank in connection with the consolidation of the Company’s subsidiary banks and name change. During 2013, the Company’s subsidiary bank, Uwharrie Bank, raised $2.8 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series C. The preferred stock qualifies as Tier 1 capital at the bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. |
Per Share Data
Per Share Data | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Per Share Data | Note 4 – Per Share Data Basic and diluted net income per common share is computed based on the weighted average number of shares outstanding during each period after retroactively adjusting for stock dividends. Diluted net income per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income of the Company. The Company had no stock options outstanding at September 30, 2018 but there were 13,378 shares of common stock underlying outstanding stock options at December 31, 2017. All of these options were dilutive at December 31, 2017 because the strike price was lower than the market price. Basic and diluted net income per common share have been computed based upon net income available to common shareholders as presented in the accompanying consolidated statements of income divided by the weighted average number of common shares outstanding or assumed to be outstanding. The computation of basic and diluted earnings per share is summarized below: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 Weighted average number of common shares outstanding 7,095,120 7,118,720 7,104,841 7,148,405 Effect of dilutive stock options — 865 — 616 Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share 7,095,120 7,119,585 7,104,841 7,149,021 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 5 – Investment Securities Carrying amounts and fair values of securities available for sale and held to maturity as of September 30, 2018 and December 31, 2017 are summarized below: September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,937 $ — $ 16 $ 4,921 U.S. Government agencies 52,738 45 1,621 51,162 GSE - Mortgage-backed securities and CMO’s 19,032 — 825 18,207 State and political subdivisions 13,760 7 592 13,175 Corporate bonds 5,033 18 45 5,006 Total securities available for sale $ 95,500 $ 70 $ 3,099 $ 92,471 September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 857 $ — $ 18 $ 839 State and political subdivisions 6,889 — 105 6,784 Corporate bonds 3,125 — 20 3,105 Total securities held to maturity $ 10,871 $ — $ 143 $ 10,728 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 56,522 $ 33 $ 940 $ 55,615 GSE - Mortgage-backed securities and CMO’s 21,253 12 374 20,891 State and political subdivisions 14,368 27 196 14,199 Corporate bonds 5,042 7 11 5,038 Total securities available for sale $ 97,185 $ 79 $ 1,521 $ 95,743 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,348 $ — $ 9 $ 1,339 State and political subdivisions 6,925 23 36 6,912 Corporate bonds 3,185 25 — 3,210 Total securities held to maturity $ 11,458 $ 48 $ 45 $ 11,461 At September 30, 2018 and December 31, 2017, the Company owned Federal Reserve Bank stock (FRB) reported at cost of $509,000 and $508,000, respectively, and Federal Home Loan Bank stock (FHLB) of $585,000 and $559,000, respectively. The investments in FRB stock and FHLB stock are required investments related to the Company’s membership in, and borrowings with, these banks and classified as restricted stock on the consolidated balance sheet. These investments are carried at cost since there is no ready market and redemption has historically been made at par value. The Company estimated that the fair value approximated cost and that these investments were not impaired at September 30, 2018. Results from sales of securities available for sale for the three and nine-month periods ended September 30, 2018 and September 30, 2017 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Gross proceeds from sales $ — $ 8,918 $ — $ 8,918 Realized gains from sales $ — $ — $ — $ — Realized losses from sales — 14 — 14 Net realized gains $ — $ (14 ) $ — $ (14 ) At September 30, 2018 and December 31, 2017, securities available for sale with a carrying amount of $72.0 million and $75.5 million, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. The following tables show the gross unrealized losses and fair value of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2018 and December 31, 2017. These unrealized losses on investment securities are a result of temporary fluctuations in market prices due to a rise in interest rates, which will adjust if rates decline, and in a volatile market and are in no way a reflection of the credit quality of the investments. Management does not believe these fluctuations are a reflection of the quality of the investments. At September 30, 2018, the unrealized losses on available for sale securities less than twelve months related to one U.S. Treasury bond, six government agency bonds and five government sponsored enterprise (GSE) mortgage backed securities. The Company had fourteen government agency bonds, fourteen GSE mortgage backed securities, eight state and political bonds, and one corporate bond at September 30, 2018 that had been in a loss position for twelve months or more. At September 30, 2018, the unrealized losses on held to maturity securities related to one government agency bond, eight state and political bonds, and two corporate bonds. The held to maturity securities consisted of two state and political bonds that had been in an unrealized loss position for more than twelve months at September 30, 2018. At December 31, 2017, the unrealized losses on available for sale securities less than twelve months related to six government agency bonds, four GSE mortgage backed securities, one corporate bond, and one state and political subdivision bond. At December 31, 2017, the Company had fifteen government agency bonds, twelve GSE mortgage backed securities, and seven state and political subdivision bonds that had been in a loss position for more than twelve months. Less than 12 Months 12 Months or More Total September 30, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Treasury $ 4,920 $ 16 $ — $ — $ 4,920 $ 16 U.S. Government agencies 4,987 60 44,001 1,561 48,988 1,621 GSE-Mortgage-backed securities and CMO’s 3,370 59 14,837 766 18,207 825 State and political subdivisions — — 10,982 592 10,982 592 Corporate bonds — — 1,969 45 1,969 45 Total securities available for sale $ 13,277 $ 135 $ 71,789 $ 2,964 $ 85,066 $ 3,099 Less than 12 Months 12 Months or More Total September 30, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Held to maturity temporary impairment U.S. Government agencies $ 838 $ 18 $ — $ — $ 838 $ 18 State and political subdivisions 4,796 45 1,989 60 6,785 105 Corporate bonds 3,105 20 — — 3,105 20 Total securities held to maturity $ 8,739 $ 83 $ 1,989 $ 60 $ 10,728 $ 143 Less than 12 Months 12 Months or More Total December 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 9,028 $ 112 $ 43,352 $ 828 $ 52,380 $ 940 GSE-Mortgage-backed securities and CMO’s 5,074 37 14,057 337 19,131 374 State and political subdivisions 1,182 1 10,317 195 11,499 196 Corporate bonds 2,008 11 — — 2,008 11 Total securities available for sale $ 17,292 $ 161 $ 67,726 $ 1,360 $ 85,018 $ 1,521 Less than 12 Months 12 Months or More Total December 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Held to maturity temporary impairment U.S. Government agencies $ 1,338 $ 9 $ — $ — $ 1,338 $ 9 State and political subdivisions 4,269 36 — — 4,269 36 Total securities held to maturity $ 5,607 $ 45 $ — $ — $ 5,607 $ 45 Declines in the fair value of the investment portfolio are believed by management to be temporary in nature. When evaluating an investment for other-than-temporary impairment management considers, among other things, the length of time and the extent to which the fair value has been in a loss position, the financial condition of the issuer and the intent and the ability of the Company to hold the investment until the loss position is recovered. Any unrealized losses were largely due to increases in market interest rates over the yields available at the time of purchase. The fair value is expected to recover as the bonds approach their maturity date or market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of quality but that the losses are temporary in nature. As of September 30, 2018, the Company does not intend to sell and is not likely to be required to sell the available for sale securities that were in a loss position prior to full recovery. The aggregate amortized cost and fair value of the available for sale securities portfolio at September 30, 2018 by remaining contractual maturity are as follows: September 30, 2018 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Treasury Due after one but within five years 4,937 4,921 2.66 % 4,937 4,921 2.66 % U.S. Government agencies Due within twelve months 15,019 14,882 1.15 % Due after one but within five years 27,613 26,504 1.65 % Due after five but within ten years 7,041 6,680 1.30 % Due after ten years 3,065 3,096 0.82 % 52,738 51,162 1.41 % Mortgage-backed securities Due after one but within five years 1,710 1,687 2.39 % Due after five but within ten years 8,190 7,830 2.01 % Due after ten years 9,132 8,690 1.90 % 19,032 18,207 1.99 % State and political subdivisions Due within twelve months 1,356 1,362 3.67 % Due after one but within five years 1,081 1,055 3.23 % Due after five but within ten years 1,695 1,628 3.12 % Due after ten years 9,628 9,130 3.10 % 13,760 13,175 3.17 % Corporate Bonds Due after one but within five years 5,033 5,006 2.88 % 5,033 5,006 2.88 % Total Securities available for sale Due within twelve months 16,375 16,244 1.36 % Due after one but within five years 40,374 39,173 2.00 % Due after five but within ten years 16,926 16,138 1.83 % Due after ten years 21,825 20,916 2.28 % $ 95,500 $ 92,471 1.92 % September 30, 2018 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Held to maturity U.S. Government agencies Due after five but within ten years $ 857 $ 839 2.42 % 857 839 2.42 % State and political subdivisions Due after one but within five years 5,042 4,952 2.16 % Due after five but within ten years 1,847 1,832 2.50 % 6,889 6,784 2.25 % Corporate Bonds Due after one but within five years 3,125 3,105 2.76 % 3,125 3,105 2.76 % Total Securities held for maturity Due after one but within five years 8,167 8,057 2.39 % Due after five but within ten years 2,704 2,671 2.48 % $ 10,871 $ 10,728 2.41 % |
Loans Held for Investment
Loans Held for Investment | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans Held for Investment | Note 6 – Loans Held for Investment The composition of net loans held for investment by class as of September 30, 2018 and December 31, 2017 are as follows: September 30, 2018 December 31, 2017 (dollars in thousands) Commercial Commercial $ 56,223 $ 54,912 Real estate - commercial 136,793 114,712 Other real estate construction loans 30,886 40,186 Noncommercial Real estate 1-4 family construction 7,857 5,024 Real estate - residential 80,925 78,023 Home equity 51,221 50,506 Consumer loans 11,803 10,774 Other loans 2,278 2,838 377,986 356,975 Less: Allowance for loan losses (2,365 ) (2,458 ) Deferred loan (fees) costs, net (248 ) (104 ) Loans held for investment, net $ 375,373 $ 354,413 |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 7 – Allowance for Loan Losses The following table shows the change in the allowance for loss losses by loan segment for the three and nine months ended September 30, 2018 and 2017, respectively: Commercial Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Balance, beginning of period $ 1,460 $ 1,323 $ 1,401 $ 1,404 Provision (recovery) charged to operations (17 ) (34 ) 49 (169 ) Charge-offs (156 ) (6 ) (187 ) (22 ) Recoveries 10 18 34 88 Net (charge-offs) / Recoveries (146 ) 12 (153 ) 66 Balance at end of period $ 1,297 $ 1,301 $ 1,297 $ 1,301 Non-Commercial Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Balance, beginning of period $ 1,123 $ 1,228 $ 1,057 $ 1,303 Provision (recovery) charged to operations (7 ) (102 ) 43 (140 ) Charge-offs (58 ) (7 ) (115 ) (91 ) Recoveries 10 28 83 75 Net (charge-offs) / Recoveries (48 ) 21 (32 ) (16 ) Balance at end of period $ 1,068 $ 1,147 $ 1,068 $ 1,147 Total Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Balance, beginning of period $ 2,583 $ 2,551 $ 2,458 $ 2,707 Provision (recovery) charged to operations (24 ) (136 ) 92 (309 ) Charge-offs (214 ) (13 ) (302 ) (113 ) Recoveries 20 46 117 163 Net (charge-offs) / Recoveries (194 ) 33 (185 ) 50 Balance at end of period $ 2,365 $ 2,448 $ 2,365 $ 2,448 The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at September 30, 2018 and December 31, 2017: September 30, 2018 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 40 $ 1,484 $ 1,257 $ 222,418 $ 1,297 $ 223,902 Non-Commercial 107 3,311 961 150,525 1,068 153,836 Total $ 147 $ 4,795 $ 2,218 $ 372,943 $ 2,365 $ 377,738 December 31, 2017 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 22 $ 1,788 $ 1,379 $ 208,022 $ 1,401 $ 209,810 Non-Commercial 172 3,781 885 143,280 1,057 147,061 Total $ 194 $ 5,569 $ 2,264 $ 351,302 $ 2,458 $ 356,871 Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following table summarizes the past due information of the loan portfolio by class as of September 30, 2018 and December 31, 2017: September 30, 2018 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 56,223 $ 56,223 $ — Real estate - commercial 397 380 777 136,016 136,793 — Other real estate construction — 48 48 30,838 30,886 — Real estate 1-4 family construction — — — 7,857 7,857 — Real estate - residential 699 489 1,188 79,489 80,677 — Home equity 127 118 245 50,976 51,221 — Consumer loans 49 — 49 11,754 11,803 — Other loans — — — 2,278 2,278 — Total $ 1,272 $ 1,035 $ 2,307 $ 375,431 $ 377,738 $ — December 31, 2017 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ 34 $ 34 $ 54,878 $ 54,912 $ — Real estate - commercial — 377 $ 377 114,335 114,712 — Other real estate construction — 51 $ 51 40,135 40,186 — Real estate construction — — — 5,024 5,024 — Real estate - residential 579 540 1,119 76,800 77,919 — Home equity 108 23 131 50,375 50,506 — Consumer loan 83 — 83 10,691 10,774 — Other loans — — — 2,838 2,838 — Total $ 770 $ 1,025 $ 1,795 $ 355,076 $ 356,871 $ — Once a loan becomes 90 days past due, the loan is automatically transferred to a nonaccrual status. The exception to this policy is credit card loans that remain in accruing status 90 days or more until they are paid current or charged off. The Company had $409,000 in foreclosed residential real estate and $145,000 in residential real estate in the process of foreclosure at September 30, 2018. The composition of nonaccrual loans by class as of September 30, 2018 and December 31, 2017 is as follows: September 30, 2018 December 31, 2017 (dollars in thousands) Commercial $ — $ 34 Real estate - commercial 380 377 Other real estate construction 48 51 Real estate 1 – 4 family construction — — Real estate – residential 489 540 Home equity 118 23 Consumer loans — — Other loans — — $ 1,035 $ 1,025 Management uses a risk-grading program to facilitate the evaluation of probable inherent loan losses and to measure the adequacy of the allowance for loan losses. In this program, risk grades are initially assigned by the loan officers and reviewed and monitored by the lenders and credit administration. The program has eight risk grades summarized in five categories as follows: Pass : Loans that are pass grade credits include loans that are fundamentally sound and risk factors are reasonable and acceptable. They generally conform to policy with only minor exceptions and any major exceptions are clearly mitigated by other economic factors. Watch : Loans that are watch credits include loans on management’s watch list where a risk concern may be anticipated in the near future. Substandard : Loans that are considered substandard are loans that are inadequately protected by current sound net worth, paying capacity of the obligor or the value of the collateral pledged. All nonaccrual loans are graded as substandard. Doubtful: Loans that are considered to be doubtful have all weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make the collection or liquidation in full on the basis of current existing facts, conditions and values highly questionable and improbable. Loss: Loans that are considered to be a loss are considered to be uncollectible and of such little value that their continuance as bankable assets is not warranted. The tables below summarize risk grades of the loan portfolio by class at September 30, 2018 and December 31, 2017: September 30, 2018 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 54,881 $ 1,331 $ 11 $ — $ 56,223 Real estate - commercial 132,571 2,176 2,046 — 136,793 Other real estate construction 28,433 2,065 388 — 30,886 Real estate 1 - 4 family construction 7,857 — — — 7,857 Real estate - residential 73,807 5,946 924 — 80,677 Home equity 50,694 408 119 — 51,221 Consumer loans 11,716 86 1 — 11,803 Other loans 2,278 — — — 2,278 Total $ 362,237 $ 12,012 $ 3,489 $ — $ 377,738 December 31, 2017 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 53,649 $ 1,215 $ 48 $ — $ 54,912 Real estate - commercial 109,224 3,321 2,167 — 114,712 Other real estate construction 38,082 1,713 391 — 40,186 Real estate 1 - 4 family construction 5,024 — — — 5,024 Real estate - residential 69,645 7,119 1,155 — 77,919 Home equity 49,743 740 23 — 50,506 Consumer loans 10,709 64 1 — 10,774 Other loans 2,838 — — — 2,838 Total $ 338,914 $ 14,172 $ 3,785 $ — $ 356,871 Loans that are in nonaccrual status or 90 days past due and still accruing are considered to be nonperforming. At both September 30, 2018 and December 31, 2017 there were no loans 90 days past due and still accruing. The following tables show the breakdown between performing and nonperforming loans by class at September 30, 2018 and December 31, 2017: September 30, 2018 Performing Non- Performing Total (dollars in thousands) Commercial $ 56,223 $ — $ 56,223 Real estate - commercial 136,413 380 136,793 Other real estate construction 30,838 48 30,886 Real estate 1 – 4 family construction 7,857 — 7,857 Real estate – residential 80,188 489 80,677 Home equity 51,103 118 51,221 Consumer loans 11,803 — 11,803 Other loans 2,278 — 2,278 Total $ 376,703 $ 1,035 $ 377,738 December 31, 2017 Performing Non- Performing Total (dollars in thousands) Commercial $ 54,878 $ 34 $ 54,912 Real estate - commercial 114,335 377 114,712 Other real estate construction 40,135 51 40,186 Real estate 1 – 4 family construction 5,024 — 5,024 Real estate – residential 77,379 540 77,919 Home equity 50,483 23 50,506 Consumer loans 10,774 — 10,774 Other loans 2,838 — 2,838 Total $ 355,846 $ 1,025 $ 356,871 Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement. If a loan is deemed impaired, a specific calculation is performed and a specific reserve is allocated, if necessary. The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at September 30, 2018 and December 31, 2017. September 30, 2018 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 7 $ — $ 7 $ — Real estate - commercial 1,381 199 1,182 36 Other real estate construction 634 101 48 4 Real estate 1 - 4 family construction — — — — Real estate - residential 3,148 812 2,336 105 Home equity 130 97 33 1 Consumer loans 33 — 33 1 Other loans — — — — Total $ 5,333 $ 1,209 $ 3,639 $ 147 December 31, 2017 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 44 $ 10 $ 34 $ 10 Real estate - commercial 1,593 1,305 288 9 Other real estate construction 689 101 50 3 Real estate 1 - 4 family construction — — — — Real estate - residential 3,701 1,319 2,382 171 Home equity 35 22 13 1 Consumer loans 45 45 — — Other loans — — — — Total $ 6,107 $ 2,802 $ 2,767 $ 194 Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 8 $ — $ 11 $ 1 Real estate - commercial 1,455 11 1,661 17 Other real estate construction 97 1 154 1 Real estate 1- 4 family construction — — 2 — Real estate - residential 3,277 27 3,560 39 Home equity 113 2 112 — Consumer loans 35 1 51 — Other loans — — — — Total $ 4,985 $ 42 $ 5,551 $ 58 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 7 $ — $ 20 $ 1 Real estate - commercial 1,381 41 1,664 46 Other real estate construction 96 2 223 4 Real estate 1- 4 family construction — — 4 — Real estate - residential 3,148 110 3,777 124 Home equity 130 4 74 1 Consumer loans 33 2 55 3 Other loans — — — — Total $ 4,795 $ 159 $ 5,817 $ 179 |
Troubled Debt Restructures
Troubled Debt Restructures | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Troubled Debt Restructures | Note 8 – Troubled Debt Restructures A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification involves providing a concession to the existing loan contract. The Company offers various types of concessions when modifying loans to troubled borrowers, however, forgiveness of principal is rarely granted. Concessions offered are term extensions, capitalizing accrued interest, reducing interest rates to below current market rates or a combination of any of these. Combinations from time to time may include allowing a customer to be placed on interest-only payments. The presentations below in the “other” category are TDRs with a combination of concessions. At the time of a TDR, additional collateral or a guarantor may be requested. Loans modified as TDRs are typically already on nonaccrual status and in some cases, partial charge-offs may have already been taken against the outstanding loan balance. The Company classifies TDR loans as impaired loans and evaluates the need for an allowance for loan loss on a loan-by-loan basis. An allowance is based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the estimated fair value of the underlying collateral less any selling costs, if the loan is deemed to be collateral dependent. At September 30, 2018, the Company had $3.8 million in TDRs outstanding, of which one was on a non-accruing basis. For the three and nine months ended September 30, 2018 and 2017, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 218 203 Home equity — — — Consumer loans — — — Other loans — — — Total 3 $ 218 $ 203 For the three months ended September 30, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 1 186 186 Home equity — — — Consumer loans 1 9 7 Other loans — — — Total 2 $ 195 $ 193 For the nine months ended September 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 6 434 390 Home equity — — — Consumer loans — — — Other loans — — — Total 6 $ 434 $ 390 For the nine months ended September 30, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial 1 $ 12 $ 11 Real estate - commercial 1 166 163 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 5 661 630 Home equity — — — Consumer loans 1 9 7 Other loans — — — Total 8 $ 848 $ 811 During the twelve months ended September 30, 2018, there was one TDR for which there was a payment default. During the twelve months ended September 30, 2017, there were three TDRs for which there was a payment default. A default on a TDR is defined as being past due 90 days or being out of compliance with the modification agreement. As previously mentioned, the Company considers TDRs to be impaired loans and has $139,000 in the allowance for loan losses as of September 30, 2018, as a direct result of these TDRs. At September 30, 2017, there was $123,000 in the allowance for loan losses related to TDRs. The following table presents the successes and failures of the types of loan modifications within the previous twelve months as of September 30, 2018 and 2017: Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) September 30, 2018 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 8 742 8 447 — — 1 156 Total 8 $ 742 8 $ 447 — $ — 1 $ 156 September 30, 2017 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 5 562 8 811 — — 1 15 Total 5 $ 562 8 $ 811 — $ — 1 $ 15 The Company has not committed to fund any additional disbursements for TDRs. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9 - Commitments and Contingencies The Company’s subsidiary bank is 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, lines of credit and standby letters of credit. These instruments involve elements of credit risk in excess of amounts recognized in the accompanying financial statements. The bank’s risk of loss with unfunded loans and lines of credit or standby letters of credit is represented by the contractual amount of these instruments. The bank uses the same credit policies in making commitments under such instruments as it does for on-balance sheet instruments. The amount of collateral obtained, if any, is based on management’s credit evaluation of the borrower. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Credit card commitments are unsecured. At September 30, 2018, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 114,574 Credit card commitments 10,334 Standby letters of credit 935 Total commitments $ 125,843 Additionally, Uwharrie Bank has a five-year operating lease for commercial property. The term expires on September 30, 2021. The annual cost of the lease is $156,000 and includes a 2.625% annual escalator. In the first quarter of 2018, Uwharrie Bank entered into a second lease for a branch. The lease has a ten-year term expiring in 2028 with two five-year renewal options. The annual cost of the lease is $189,000 and includes a 2.0% annual escalator. |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Note 10 – Fair Value Disclosures Accounting Standards Codification (ASC) 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 does not require any new fair value measurements but clarifies and standardizes some divergent practices that have emerged since prior guidance was issued. ASC 820 creates a three-level hierarchy under which individual fair value estimates are to be ranked based on the relative ASC 820 defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which those assets or liabilities are sold and considers assumptions that market participants would use when pricing those assets or liabilities. Fair values determined using Level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on Level 2 inputs, which exist when observable data exists for similar assets and liabilities. Fair values for assets and liabilities for which identical or similar assets and liabilities are not actively traded in observable markets are based on Level 3 inputs, which are considered to be unobservable. Among the Company’s assets and liabilities, investment securities available for sale are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including other real estate owned, impaired loans, loans held for sale, which are carried at the lower of cost or market; loan servicing rights, where fair value is determined using similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions; and goodwill, which is periodically tested for impairment. Deposits, short-term borrowings and long-term obligations are not reported at fair value. Prices for US Treasury securities are readily available in the active markets in which those securities are traded, and the resulting fair values are shown in the ‘Level 1 input’ column. Prices for government agency securities, mortgage-backed securities and for state, county and municipal securities are obtained for similar securities, and the resulting fair values are shown in the ‘Level 2 input’ column. Prices for all other non-marketable investments are determined based on various assumptions that are not observable. The fair values for these investment securities are shown in the ‘Level 3 input’ column. Non-marketable investment securities, which are carried at their purchase price, include those that may only be redeemed by the issuer. The changes in securities between Level 1 and Level 2 were related to the purchase and sale of several securities and not the transfer of securities. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment by using one of several methods including collateral value, fair value of similar debt or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the present value of the expected repayments or fair value of collateral exceed the recorded investments in such loans. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. Foreclosed assets are adjusted to fair value upon transfer of the loans to other real estate owned. Real estate acquired in settlement of loans is recorded initially at the estimated fair value of the property less estimated selling costs at the date of foreclosure. The initial recorded value may be subsequently reduced by additional allowances, which are charged to earnings if the estimated fair value of the property less estimated selling costs declines below the initial recorded value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate, based on secondary market prices. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. These loans are recorded in Level 2 The following table provides fair value information for assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017: September 30, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 4,921 $ 4,921 $ — $ — U.S. Government agencies 51,162 — 51,162 — GSE - Mortgage-backed securities and CMO’s 18,207 — 18,207 — State and political subdivisions 13,175 — 13,175 — Corporate bonds 5,006 — 5,006 — Total assets at fair value $ 92,471 $ 4,921 $ 87,550 $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2017 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 55,615 $ — $ 55,615 $ — GSE - Mortgage-backed securities and CMO’s 20,891 — 20,891 — State and political subdivisions 14,199 — 14,199 — Corporate bonds 5,038 — 5,038 — Total assets at fair value $ 95,743 $ — $ 95,743 $ — Total liabilities at fair value $ — $ — $ — $ — The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value less cost to sell at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2018 and December 31, 2017: September 30, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,540 $ — $ — $ 3,540 Other real estate owned 990 — — 990 Total assets at fair value $ 4,530 $ — $ — $ 4,530 Total liabilities at fair value $ — $ — $ — $ — December 31, 2017 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 2,624 $ — $ — $ 2,624 Other real estate owned 1,785 — — 1,785 Total assets at fair value $ 4,409 $ — $ — $ 4,409 Total liabilities at fair value $ — $ — $ — $ — Quantitative Information about Level 3 Fair Value Measurements September 30, 2018 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount Rate 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% December 31, 2017 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% At September 30, 2018, impaired loans were being evaluated with discounted expected cash flows and discounted appraisals were being used on collateral dependent loans. |
Fair Values of Financial Instru
Fair Values of Financial Instruments and Interest Rate Risk | 9 Months Ended |
Sep. 30, 2018 | |
Investments All Other Investments [Abstract] | |
Fair Values of Financial Instruments and Interest Rate Risk | Note 11 – ASC 825, “Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring basis or non-recurring basis. The fair value estimates presented at September 30, 2018 and December 31, 2017 are based on relevant market information and information about the financial instruments. Fair value estimates are intended to represent the price an asset could be sold at or the price at which a liability could be settled. However, given there is no active market or observable market transactions for many of the Company’s financial instruments, the Company has made estimates of many of these fair values which are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimated values. The estimated fair values disclosed in the following table do not represent market values of all assets and liabilities of the Company and should not be interpreted to represent the underlying value of the Company. The valuations at September 30, 2018 are observed under the exit price notion as a result of adoption of ASU 2016-01. The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of September 30, 2018 and December 31, 2017: September 30, 2018 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 116,726 $ 116,726 $ 114,518 $ 2,208 $ — Securities available for sale 92,471 92,471 4,921 87,550 — Securities held to maturity 10,871 10,728 — 10,728 — Loans held for investment, net 377,738 371,808 — — 371,808 Loans held for sale 1,946 1,946 — 1,946 — Restricted stock 1,094 1,094 1,094 — — Mortgage servicing rights 1,912 3,532 — 3,532 — Accrued interest receivable 1,681 1,681 — — 1,681 FINANCIAL LIABILITIES Deposits $ 573,542 $ 526,741 $ — $ 526,741 $ — Short-term borrowings 1,305 1,305 — 1,305 — Long-term borrowings 9,934 9,944 — — 9,944 Accrued interest payable 12 12 — — 12 December 31, 2017 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 70,403 $ 70,379 $ 67,913 $ 2,466 $ — Securities available for sale 95,743 95,743 — 95,743 — Securities held to maturity 11,458 11,461 — 11,461 — Loans held for investment, net 356,871 359,325 — — 359,325 Loans held for sale 4,414 4,414 — 4,414 — Restricted stock 1,067 1,067 1,067 — — Mortgage servicing rights 2,125 3,310 — 3,310 Accrued interest receivable 1,709 1,709 — — 1,709 FINANCIAL LIABILITIES Deposits 512,628 481,300 — 481,300 — Short-term borrowings 1,752 1,752 — 1,752 — Long-term borrowings 9,534 9,658 — — 9,658 Accrued interest payable 148 148 — — 148 The following methods and assumptions were used by the Company in estimating the fair value of financial instruments: • Cash and cash equivalents – The carrying amount of cash and cash equivalents approximate their fair values due to the short period of time until their expected realization and are recorded in Level 1 with the exception of time deposits due from banks that are in Level 2. • Securities available for sale – Securities available for sale are carried at fair value based on quoted and observable market prices and are recorded in Levels 1 and 2. Also see discussion in Note 5. • Securities held to maturity – Securities held to maturity are carried at amortized cost and are recorded in Level 2. • Loans – The fair value of loans is estimated based on discounted expected cash flows using the current interest rates at which similar loans would be made, a future expected credit loss based on historical charge-offs, and a liquidity discount based on the overall risk grade of the load portfolio. These loans are carried in Level 3. Loans held for sale, which represent current mortgage production forward sales not yet delivered, are valued based on secondary market prices. Loans held for sale are recorded in Level 2. • Restricted stock – It is not practicable to determine fair value of restricted stock which is comprised of Federal Home Loan Bank and Federal Reserve Bank stock due to restrictions placed on its transferability and it is presented at its carrying value and is recorded in Level 1 due to the redemption provisions of the Federal Home Loan Bank and the Federal Reserve Bank. • Mortgage servicing rights – The fair value disclosed for mortgage servicing rights is based on an independent market valuation and is recorded at Level 2. • Accrued interest receivable and payable – Both accrued interest receivable and payable are recorded in Level 3, as there are not active markets for these. • Deposits – The fair value of deposits is estimated based on discounted cash flow analyses using offered market rates and is recorded in Level 2. The fair value of deposits does not consider any customer related intangibles. • Borrowings – The fair value disclosed for short-term borrowings, which are composed of overnight borrowings and debt due within one year approximate the carrying value for such debt and is recorded in Level 2. The estimated fair value for long-term borrowings are estimated based on discounted cash flow analyses using offered market rates. Total borrowings are carried in Level 2. Long-term debt is fair valued based on discounted cash flow analyses and is recorded in Level 3. At September 30, 2018, the subsidiary bank had outstanding standby letters of credit and commitments to extend credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed; therefore, the fair value is the fee the bank is expected to receive. This amount is deemed immaterial by management. See Note 9. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 12 – Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, “Leases, Topic 842 (“ASU 2016-02”)”. This ASU increases the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The key difference between existing standards and this ASU is the requirement for lessees to recognize on their balance sheet all lease contracts with lease terms greater than 12 months, including operating leases. Both a right-of-use asset, representing the right to use the leased asset, and a lease liability, representing the contractual obligation, are required to be recognized on the balance sheet of the lessee at lease commencement. Further, this ASU requires lessees to classify leases as either operating or finance leases, which are substantially similar to the current operating and capital leases classifications. The distinction between these two classifications under the new standard does not relate to balance sheet treatment but relates to treatment in the statements of income and cash flows. Lessor guidance remains largely unchanged with the exception of how a lessor determines the appropriate lease classification for each lease to better align the lessor guidance with revised lessee classification guidance. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of the new standard, which we will adopt during the first quarter of 2019. We currently have two properties that we operate under a lease, both of which will be recorded on the Consolidated Balance Sheet upon adoption. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. Entities will apply the standard’s provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are currently exploring vendor-based options for outsourcing our current model as well as extending our current model to comply with CECL. We continue to assess the potential financial impact to the Company’s financial position. From time to time, the FASB issues exposure drafts of proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts. Reclassification Certain amounts in the 2017 financial statements have been reclassified to conform to the 2018 presentation. These reclassifications do not have a material impact on net income or shareholders’ equity. Please refer to the disclosure in Note 1 on page 8 for further specific reclassification information. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc., and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly-owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management is not aware of economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2017 Annual Report on Form 10-K. This Quarterly Report should be read in conjunction with such Annual Report. |
Accounting Changes, Reclassifications and Restatements | Accounting Changes, Reclassifications and Restatements Certain items in prior financial statements have been reclassified to conform to the current presentation. ASU 2014-09. “Revenue from Contracts with Customers (Topic 606)” was adopted as of January 1, 2018. ASU 2014-09 requires us to report network costs associated with debit card and credit card transactions netted against the related fees from such transactions. Previously, such network costs were reported as a component of other non-interest expense. For the three months and nine months ended September 30, 2018, gross interchange and card transaction fees totaled $437,000 and $1.2 million, respectively, while related network costs totaled $247,000 and $765,000, respectively. On a net basis, we reported $190,000 as interchange and card transaction fees in the accompanying Consolidated Statement of Income for the three months ended September 30, 2018 and $476,000 for the nine months ended September 30, 2018. For the three and nine months ended September 30, 2017, we reported interchange and card transaction fees totaling $381,000 and $1.2 million, respectively, on a gross basis in the accompanying Consolidated Statement of Income while related network costs totaling $232,000 and $679,000, respectively, were reported as a component of other non-interest expense. Interchange and card transaction fees, net of costs, were re-classed in 2018 to report net $149,000 for the three months ended September 30, 2017 and $486,000 for the nine months ended September 30, 2017. Under ASU 2014-09, for revenue not associated with financial instruments, guarantees and lease contracts, we apply the following steps when recognizing revenue from contracts with customers: (i) identify the contract, (ii) identify the performance obligations, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations and (v) recognize revenue when the performance obligation is satisfied. Our contracts with customers are generally short-term in nature, typically due within one year or less or cancellable by us or our customer upon a short notice period. Performance obligations for our customer contracts are generally satisfied at a single point in time, typically when the transaction is complete, or over time. For performance obligations satisfied over time, we primarily use the output method, directly measuring the value of the products/services transferred to the customer, to determine when performance obligations have been satisfied. We typically receive payment from customers and recognize revenue concurrent with the satisfaction of our performance obligations. In most cases, this occurs within a single financial reporting period. For payments received in advance of the satisfaction of performance obligations, revenue recognition is deferred until such time as the performance obligations have been satisfied. In cases where we have not received payment despite satisfaction of our performance obligations, we accrue an estimate of the amount due in the period our performance obligations have been satisfied. For contracts with variable components, only amounts for which collection is probable are accrued. We generally act in a principal capacity, on our own behalf, in most of our contracts with customers. In such transactions, we recognize revenue and the related costs to provide our services on a gross basis in our financial statements. In some cases, we act in an agent capacity, deriving revenue through assisting other entities in transactions with our customers. In such transactions, we recognized revenue and the related costs to provide our services on a net basis in our financial statements. These transactions primarily relate to insurance and brokerage commissions and fees derived from our customers' use of various interchange and ATM/debit card/credit card networks. |
Use of Estimates | Use of Estimates The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | The following table presents the changes in accumulated other comprehensive income for the three and nine months ended September 30, 2018 and 2017: Unrealized holding gains on available-for-sale securities (net) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Beginning Balance $ (2,066 ) $ (761 ) $ (1,107 ) $ (1,318 ) Other Comprehensive income (loss) before reclassifications, net of ($80,000), $14,000, ($362,000), and $301,000 tax effect, respectively (266 ) 26 (1,225 ) 583 Amounts reclassified from accumulated other comprehensive income net of $0, $5,000, $0, and $5,000 tax effect, respectively — 9 — 9 Net current-period other comprehensive income (loss) (266 ) 35 (1,225 ) 592 Ending Balance $ (2,332 ) $ (726 ) $ (2,332 ) $ (726 ) |
Per Share Data (Tables)
Per Share Data (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted earnings per share is summarized below: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 Weighted average number of common shares outstanding 7,095,120 7,118,720 7,104,841 7,148,405 Effect of dilutive stock options — 865 — 616 Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share 7,095,120 7,119,585 7,104,841 7,149,021 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity | Carrying amounts and fair values of securities available for sale and held to maturity as of September 30, 2018 and December 31, 2017 are summarized below: September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,937 $ — $ 16 $ 4,921 U.S. Government agencies 52,738 45 1,621 51,162 GSE - Mortgage-backed securities and CMO’s 19,032 — 825 18,207 State and political subdivisions 13,760 7 592 13,175 Corporate bonds 5,033 18 45 5,006 Total securities available for sale $ 95,500 $ 70 $ 3,099 $ 92,471 September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 857 $ — $ 18 $ 839 State and political subdivisions 6,889 — 105 6,784 Corporate bonds 3,125 — 20 3,105 Total securities held to maturity $ 10,871 $ — $ 143 $ 10,728 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 56,522 $ 33 $ 940 $ 55,615 GSE - Mortgage-backed securities and CMO’s 21,253 12 374 20,891 State and political subdivisions 14,368 27 196 14,199 Corporate bonds 5,042 7 11 5,038 Total securities available for sale $ 97,185 $ 79 $ 1,521 $ 95,743 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,348 $ — $ 9 $ 1,339 State and political subdivisions 6,925 23 36 6,912 Corporate bonds 3,185 25 — 3,210 Total securities held to maturity $ 11,458 $ 48 $ 45 $ 11,461 |
Sales of Securities Available for Sale | Results from sales of securities available for sale for the three and nine-month periods ended September 30, 2018 and September 30, 2017 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Gross proceeds from sales $ — $ 8,918 $ — $ 8,918 Realized gains from sales $ — $ — $ — $ — Realized losses from sales — 14 — 14 Net realized gains $ — $ (14 ) $ — $ (14 ) |
Gross Unrealized Losses and Fair Value of Investments | At December 31, 2017, the unrealized losses on held to maturity securities related to one government agency security Less than 12 Months 12 Months or More Total September 30, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Treasury $ 4,920 $ 16 $ — $ — $ 4,920 $ 16 U.S. Government agencies 4,987 60 44,001 1,561 48,988 1,621 GSE-Mortgage-backed securities and CMO’s 3,370 59 14,837 766 18,207 825 State and political subdivisions — — 10,982 592 10,982 592 Corporate bonds — — 1,969 45 1,969 45 Total securities available for sale $ 13,277 $ 135 $ 71,789 $ 2,964 $ 85,066 $ 3,099 Less than 12 Months 12 Months or More Total September 30, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Held to maturity temporary impairment U.S. Government agencies $ 838 $ 18 $ — $ — $ 838 $ 18 State and political subdivisions 4,796 45 1,989 60 6,785 105 Corporate bonds 3,105 20 — — 3,105 20 Total securities held to maturity $ 8,739 $ 83 $ 1,989 $ 60 $ 10,728 $ 143 Less than 12 Months 12 Months or More Total December 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 9,028 $ 112 $ 43,352 $ 828 $ 52,380 $ 940 GSE-Mortgage-backed securities and CMO’s 5,074 37 14,057 337 19,131 374 State and political subdivisions 1,182 1 10,317 195 11,499 196 Corporate bonds 2,008 11 — — 2,008 11 Total securities available for sale $ 17,292 $ 161 $ 67,726 $ 1,360 $ 85,018 $ 1,521 Less than 12 Months 12 Months or More Total December 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Held to maturity temporary impairment U.S. Government agencies $ 1,338 $ 9 $ — $ — $ 1,338 $ 9 State and political subdivisions 4,269 36 — — 4,269 36 Total securities held to maturity $ 5,607 $ 45 $ — $ — $ 5,607 $ 45 |
Amortized Cost and Fair Value of Available for Sale Securities Portfolio | The aggregate amortized cost and fair value of the available for sale securities portfolio at September 30, 2018 by remaining contractual maturity are as follows: September 30, 2018 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Treasury Due after one but within five years 4,937 4,921 2.66 % 4,937 4,921 2.66 % U.S. Government agencies Due within twelve months 15,019 14,882 1.15 % Due after one but within five years 27,613 26,504 1.65 % Due after five but within ten years 7,041 6,680 1.30 % Due after ten years 3,065 3,096 0.82 % 52,738 51,162 1.41 % Mortgage-backed securities Due after one but within five years 1,710 1,687 2.39 % Due after five but within ten years 8,190 7,830 2.01 % Due after ten years 9,132 8,690 1.90 % 19,032 18,207 1.99 % State and political subdivisions Due within twelve months 1,356 1,362 3.67 % Due after one but within five years 1,081 1,055 3.23 % Due after five but within ten years 1,695 1,628 3.12 % Due after ten years 9,628 9,130 3.10 % 13,760 13,175 3.17 % Corporate Bonds Due after one but within five years 5,033 5,006 2.88 % 5,033 5,006 2.88 % Total Securities available for sale Due within twelve months 16,375 16,244 1.36 % Due after one but within five years 40,374 39,173 2.00 % Due after five but within ten years 16,926 16,138 1.83 % Due after ten years 21,825 20,916 2.28 % $ 95,500 $ 92,471 1.92 % |
Amortized Cost and Fair Value of Held to Maturity Securities Portfolio | September 30, 2018 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Held to maturity U.S. Government agencies Due after five but within ten years $ 857 $ 839 2.42 % 857 839 2.42 % State and political subdivisions Due after one but within five years 5,042 4,952 2.16 % Due after five but within ten years 1,847 1,832 2.50 % 6,889 6,784 2.25 % Corporate Bonds Due after one but within five years 3,125 3,105 2.76 % 3,125 3,105 2.76 % Total Securities held for maturity Due after one but within five years 8,167 8,057 2.39 % Due after five but within ten years 2,704 2,671 2.48 % $ 10,871 $ 10,728 2.41 % |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Composition of Net Loans Held for Investment by Class | The composition of net loans held for investment by class as of September 30, 2018 and December 31, 2017 are as follows: September 30, 2018 December 31, 2017 (dollars in thousands) Commercial Commercial $ 56,223 $ 54,912 Real estate - commercial 136,793 114,712 Other real estate construction loans 30,886 40,186 Noncommercial Real estate 1-4 family construction 7,857 5,024 Real estate - residential 80,925 78,023 Home equity 51,221 50,506 Consumer loans 11,803 10,774 Other loans 2,278 2,838 377,986 356,975 Less: Allowance for loan losses (2,365 ) (2,458 ) Deferred loan (fees) costs, net (248 ) (104 ) Loans held for investment, net $ 375,373 $ 354,413 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Changes in Allowance for Loss Losses | The following table shows the change in the allowance for loss losses by loan segment for the three and nine months ended September 30, 2018 and 2017, respectively: Commercial Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Balance, beginning of period $ 1,460 $ 1,323 $ 1,401 $ 1,404 Provision (recovery) charged to operations (17 ) (34 ) 49 (169 ) Charge-offs (156 ) (6 ) (187 ) (22 ) Recoveries 10 18 34 88 Net (charge-offs) / Recoveries (146 ) 12 (153 ) 66 Balance at end of period $ 1,297 $ 1,301 $ 1,297 $ 1,301 Non-Commercial Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Balance, beginning of period $ 1,123 $ 1,228 $ 1,057 $ 1,303 Provision (recovery) charged to operations (7 ) (102 ) 43 (140 ) Charge-offs (58 ) (7 ) (115 ) (91 ) Recoveries 10 28 83 75 Net (charge-offs) / Recoveries (48 ) 21 (32 ) (16 ) Balance at end of period $ 1,068 $ 1,147 $ 1,068 $ 1,147 Total Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (dollars in thousands) Balance, beginning of period $ 2,583 $ 2,551 $ 2,458 $ 2,707 Provision (recovery) charged to operations (24 ) (136 ) 92 (309 ) Charge-offs (214 ) (13 ) (302 ) (113 ) Recoveries 20 46 117 163 Net (charge-offs) / Recoveries (194 ) 33 (185 ) 50 Balance at end of period $ 2,365 $ 2,448 $ 2,365 $ 2,448 |
Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment | The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at September 30, 2018 and December 31, 2017: September 30, 2018 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 40 $ 1,484 $ 1,257 $ 222,418 $ 1,297 $ 223,902 Non-Commercial 107 3,311 961 150,525 1,068 153,836 Total $ 147 $ 4,795 $ 2,218 $ 372,943 $ 2,365 $ 377,738 December 31, 2017 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 22 $ 1,788 $ 1,379 $ 208,022 $ 1,401 $ 209,810 Non-Commercial 172 3,781 885 143,280 1,057 147,061 Total $ 194 $ 5,569 $ 2,264 $ 351,302 $ 2,458 $ 356,871 |
Past Due Information of Loan Portfolio by Class | Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following table summarizes the past due information of the loan portfolio by class as of September 30, 2018 and December 31, 2017: September 30, 2018 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 56,223 $ 56,223 $ — Real estate - commercial 397 380 777 136,016 136,793 — Other real estate construction — 48 48 30,838 30,886 — Real estate 1-4 family construction — — — 7,857 7,857 — Real estate - residential 699 489 1,188 79,489 80,677 — Home equity 127 118 245 50,976 51,221 — Consumer loans 49 — 49 11,754 11,803 — Other loans — — — 2,278 2,278 — Total $ 1,272 $ 1,035 $ 2,307 $ 375,431 $ 377,738 $ — December 31, 2017 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ 34 $ 34 $ 54,878 $ 54,912 $ — Real estate - commercial — 377 $ 377 114,335 114,712 — Other real estate construction — 51 $ 51 40,135 40,186 — Real estate construction — — — 5,024 5,024 — Real estate - residential 579 540 1,119 76,800 77,919 — Home equity 108 23 131 50,375 50,506 — Consumer loan 83 — 83 10,691 10,774 — Other loans — — — 2,838 2,838 — Total $ 770 $ 1,025 $ 1,795 $ 355,076 $ 356,871 $ — |
Composition of Nonaccrual Loans by Class | The composition of nonaccrual loans by class as of September 30, 2018 and December 31, 2017 is as follows: September 30, 2018 December 31, 2017 (dollars in thousands) Commercial $ — $ 34 Real estate - commercial 380 377 Other real estate construction 48 51 Real estate 1 – 4 family construction — — Real estate – residential 489 540 Home equity 118 23 Consumer loans — — Other loans — — $ 1,035 $ 1,025 |
Summary of Risk Grades of Portfolio by Class | The tables below summarize risk grades of the loan portfolio by class at September 30, 2018 and December 31, 2017: September 30, 2018 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 54,881 $ 1,331 $ 11 $ — $ 56,223 Real estate - commercial 132,571 2,176 2,046 — 136,793 Other real estate construction 28,433 2,065 388 — 30,886 Real estate 1 - 4 family construction 7,857 — — — 7,857 Real estate - residential 73,807 5,946 924 — 80,677 Home equity 50,694 408 119 — 51,221 Consumer loans 11,716 86 1 — 11,803 Other loans 2,278 — — — 2,278 Total $ 362,237 $ 12,012 $ 3,489 $ — $ 377,738 December 31, 2017 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 53,649 $ 1,215 $ 48 $ — $ 54,912 Real estate - commercial 109,224 3,321 2,167 — 114,712 Other real estate construction 38,082 1,713 391 — 40,186 Real estate 1 - 4 family construction 5,024 — — — 5,024 Real estate - residential 69,645 7,119 1,155 — 77,919 Home equity 49,743 740 23 — 50,506 Consumer loans 10,709 64 1 — 10,774 Other loans 2,838 — — — 2,838 Total $ 338,914 $ 14,172 $ 3,785 $ — $ 356,871 |
Summary of Performing and Nonperforming Loans by Class | The following tables show the breakdown between performing and nonperforming loans by class at September 30, 2018 and December 31, 2017: September 30, 2018 Performing Non- Performing Total (dollars in thousands) Commercial $ 56,223 $ — $ 56,223 Real estate - commercial 136,413 380 136,793 Other real estate construction 30,838 48 30,886 Real estate 1 – 4 family construction 7,857 — 7,857 Real estate – residential 80,188 489 80,677 Home equity 51,103 118 51,221 Consumer loans 11,803 — 11,803 Other loans 2,278 — 2,278 Total $ 376,703 $ 1,035 $ 377,738 December 31, 2017 Performing Non- Performing Total (dollars in thousands) Commercial $ 54,878 $ 34 $ 54,912 Real estate - commercial 114,335 377 114,712 Other real estate construction 40,135 51 40,186 Real estate 1 – 4 family construction 5,024 — 5,024 Real estate – residential 77,379 540 77,919 Home equity 50,483 23 50,506 Consumer loans 10,774 — 10,774 Other loans 2,838 — 2,838 Total $ 355,846 $ 1,025 $ 356,871 |
Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class | The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at September 30, 2018 and December 31, 2017. September 30, 2018 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 7 $ — $ 7 $ — Real estate - commercial 1,381 199 1,182 36 Other real estate construction 634 101 48 4 Real estate 1 - 4 family construction — — — — Real estate - residential 3,148 812 2,336 105 Home equity 130 97 33 1 Consumer loans 33 — 33 1 Other loans — — — — Total $ 5,333 $ 1,209 $ 3,639 $ 147 December 31, 2017 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 44 $ 10 $ 34 $ 10 Real estate - commercial 1,593 1,305 288 9 Other real estate construction 689 101 50 3 Real estate 1 - 4 family construction — — — — Real estate - residential 3,701 1,319 2,382 171 Home equity 35 22 13 1 Consumer loans 45 45 — — Other loans — — — — Total $ 6,107 $ 2,802 $ 2,767 $ 194 Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 8 $ — $ 11 $ 1 Real estate - commercial 1,455 11 1,661 17 Other real estate construction 97 1 154 1 Real estate 1- 4 family construction — — 2 — Real estate - residential 3,277 27 3,560 39 Home equity 113 2 112 — Consumer loans 35 1 51 — Other loans — — — — Total $ 4,985 $ 42 $ 5,551 $ 58 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 7 $ — $ 20 $ 1 Real estate - commercial 1,381 41 1,664 46 Other real estate construction 96 2 223 4 Real estate 1- 4 family construction — — 4 — Real estate - residential 3,148 110 3,777 124 Home equity 130 4 74 1 Consumer loans 33 2 55 3 Other loans — — — — Total $ 4,795 $ 159 $ 5,817 $ 179 |
Troubled Debt Restructures (Tab
Troubled Debt Restructures (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Breakdown of Types of Concessions Made by Loan Class | For the three and nine months ended September 30, 2018 and 2017, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 218 203 Home equity — — — Consumer loans — — — Other loans — — — Total 3 $ 218 $ 203 For the three months ended September 30, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 1 186 186 Home equity — — — Consumer loans 1 9 7 Other loans — — — Total 2 $ 195 $ 193 For the nine months ended September 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 6 434 390 Home equity — — — Consumer loans — — — Other loans — — — Total 6 $ 434 $ 390 For the nine months ended September 30, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial 1 $ 12 $ 11 Real estate - commercial 1 166 163 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 5 661 630 Home equity — — — Consumer loans 1 9 7 Other loans — — — Total 8 $ 848 $ 811 |
Schedule of Successes and Failures of Types of Debt Restructuring | The following table presents the successes and failures of the types of loan modifications within the previous twelve months as of September 30, 2018 and 2017: Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) September 30, 2018 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 8 742 8 447 — — 1 156 Total 8 $ 742 8 $ 447 — $ — 1 $ 156 September 30, 2017 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 5 562 8 811 — — 1 15 Total 5 $ 562 8 $ 811 — $ — 1 $ 15 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk | At September 30, 2018, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 114,574 Credit card commitments 10,334 Standby letters of credit 935 Total commitments $ 125,843 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Information for Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table provides fair value information for assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017: September 30, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 4,921 $ 4,921 $ — $ — U.S. Government agencies 51,162 — 51,162 — GSE - Mortgage-backed securities and CMO’s 18,207 — 18,207 — State and political subdivisions 13,175 — 13,175 — Corporate bonds 5,006 — 5,006 — Total assets at fair value $ 92,471 $ 4,921 $ 87,550 $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2017 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 55,615 $ — $ 55,615 $ — GSE - Mortgage-backed securities and CMO’s 20,891 — 20,891 — State and political subdivisions 14,199 — 14,199 — Corporate bonds 5,038 — 5,038 — Total assets at fair value $ 95,743 $ — $ 95,743 $ — Total liabilities at fair value $ — $ — $ — $ — |
Assets Measured at Fair Value on Nonrecurring Basis | Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2018 and December 31, 2017: September 30, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,540 $ — $ — $ 3,540 Other real estate owned 990 — — 990 Total assets at fair value $ 4,530 $ — $ — $ 4,530 Total liabilities at fair value $ — $ — $ — $ — December 31, 2017 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 2,624 $ — $ — $ 2,624 Other real estate owned 1,785 — — 1,785 Total assets at fair value $ 4,409 $ — $ — $ 4,409 Total liabilities at fair value $ — $ — $ — $ — |
Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements September 30, 2018 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount Rate 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% December 31, 2017 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% |
Fair Values of Financial Inst_2
Fair Values of Financial Instruments and Interest Rate Risk (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments All Other Investments [Abstract] | |
Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments | The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of September 30, 2018 and December 31, 2017: September 30, 2018 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 116,726 $ 116,726 $ 114,518 $ 2,208 $ — Securities available for sale 92,471 92,471 4,921 87,550 — Securities held to maturity 10,871 10,728 — 10,728 — Loans held for investment, net 377,738 371,808 — — 371,808 Loans held for sale 1,946 1,946 — 1,946 — Restricted stock 1,094 1,094 1,094 — — Mortgage servicing rights 1,912 3,532 — 3,532 — Accrued interest receivable 1,681 1,681 — — 1,681 FINANCIAL LIABILITIES Deposits $ 573,542 $ 526,741 $ — $ 526,741 $ — Short-term borrowings 1,305 1,305 — 1,305 — Long-term borrowings 9,934 9,944 — — 9,944 Accrued interest payable 12 12 — — 12 December 31, 2017 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 70,403 $ 70,379 $ 67,913 $ 2,466 $ — Securities available for sale 95,743 95,743 — 95,743 — Securities held to maturity 11,458 11,461 — 11,461 — Loans held for investment, net 356,871 359,325 — — 359,325 Loans held for sale 4,414 4,414 — 4,414 — Restricted stock 1,067 1,067 1,067 — — Mortgage servicing rights 2,125 3,310 — 3,310 Accrued interest receivable 1,709 1,709 — — 1,709 FINANCIAL LIABILITIES Deposits 512,628 481,300 — 481,300 — Short-term borrowings 1,752 1,752 — 1,752 — Long-term borrowings 9,534 9,658 — — 9,658 Accrued interest payable 148 148 — — 148 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interchange and Card Transactions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income fees | $ 190,000 | $ 149,000 | $ 476,000 | $ 486,000 |
ASU 2014-09 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Gross interchange and card transaction fees | 437,000 | 381,000 | 1,200,000 | 1,200,000 |
Interchange and card transaction related network costs | 247,000 | 232,000 | 765,000 | 679,000 |
ASU 2014-09 [Member] | Interchange and Card Transactions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income fees | $ 190,000 | $ 149,000 | $ 476,000 | $ 486,000 |
Comprehensive Income - Accumula
Comprehensive Income - Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | $ 44,540 | |||
Total other comprehensive income (loss) | $ (266) | $ 35 | (1,225) | $ 592 |
Ending balance | 43,709 | 43,709 | ||
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | (2,066) | (761) | (1,107) | (1,318) |
Other Comprehensive income (loss) before reclassifications, net of ($80,000), $14,000, ($362,000), and $301,000 tax effect, respectively | (266) | 26 | (1,225) | 583 |
Amounts reclassified from accumulated other comprehensive income net of $0, $5,000, $0, and $5,000 tax effect, respectively | 9 | 9 | ||
Total other comprehensive income (loss) | (266) | 35 | (1,225) | 592 |
Ending balance | $ (2,332) | $ (726) | $ (2,332) | $ (726) |
Comprehensive Income - Accumu_2
Comprehensive Income - Accumulated Other Comprehensive Income (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Tax effect on amount reclassified from accumulated other comprehensive income | $ 0 | $ (5) | $ 0 | $ (5) |
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Tax effect on Other Comprehensive income (loss) before reclassifications | (80) | 14 | (362) | 301 |
Tax effect on amount reclassified from accumulated other comprehensive income | $ 0 | $ 5 | $ 0 | $ 5 |
Noncontrolling Interest - Addit
Noncontrolling Interest - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended | 12 Months Ended |
Jan. 31, 2013 | Sep. 30, 2018 | Dec. 31, 2013 | |
Preferred Stock Series B [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Preferred stock issued | $ 7.9 | ||
Dividends rate | 5.30% | ||
Voting rights | The preferred stock has no voting rights | ||
Preferred Stock Series C [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Preferred stock issued | $ 2.8 | ||
Dividends rate | 5.30% | ||
Voting rights | The preferred stock has no voting rights |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Stock options outstanding | 0 | 13,378 |
Per Share Data - Computation of
Per Share Data - Computation of Basic and Diluted Earnings Per Share (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Weighted average number of common shares outstanding | 7,095,120 | 7,118,720 | 7,104,841 | 7,148,405 |
Effect of dilutive stock options | 865 | 616 | ||
Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share | 7,095,120 | 7,119,585 | 7,104,841 | 7,149,021 |
Investment Securities - Carryin
Investment Securities - Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 95,500 | $ 97,185 |
Available-for-sale Securities, Gross Unrealized Gains | 70 | 79 |
Available-for-sale Securities, Gross Unrealized Losses | 3,099 | 1,521 |
Available-for-sale Securities, Fair Value | 92,471 | 95,743 |
Held-to-maturity Securities, Amortized Cost | 10,871 | 11,458 |
Held-to-maturity Securities, Gross Unrealized Gains | 48 | |
Held-to-maturity Securities, Gross Unrealized Losses | 143 | 45 |
Held-to-maturity Securities, Fair Value | 10,728 | 11,461 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 4,937 | |
Available-for-sale Securities, Gross Unrealized Losses | 16 | |
Available-for-sale Securities, Fair Value | 4,921 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 52,738 | 56,522 |
Available-for-sale Securities, Gross Unrealized Gains | 45 | 33 |
Available-for-sale Securities, Gross Unrealized Losses | 1,621 | 940 |
Available-for-sale Securities, Fair Value | 51,162 | 55,615 |
Held-to-maturity Securities, Amortized Cost | 857 | 1,348 |
Held-to-maturity Securities, Gross Unrealized Losses | 18 | 9 |
Held-to-maturity Securities, Fair Value | 839 | 1,339 |
GSE - Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 19,032 | 21,253 |
Available-for-sale Securities, Gross Unrealized Gains | 12 | |
Available-for-sale Securities, Gross Unrealized Losses | 825 | 374 |
Available-for-sale Securities, Fair Value | 18,207 | 20,891 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 13,760 | 14,368 |
Available-for-sale Securities, Gross Unrealized Gains | 7 | 27 |
Available-for-sale Securities, Gross Unrealized Losses | 592 | 196 |
Available-for-sale Securities, Fair Value | 13,175 | 14,199 |
Held-to-maturity Securities, Amortized Cost | 6,889 | 6,925 |
Held-to-maturity Securities, Gross Unrealized Gains | 23 | |
Held-to-maturity Securities, Gross Unrealized Losses | 105 | 36 |
Held-to-maturity Securities, Fair Value | 6,784 | 6,912 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 5,033 | 5,042 |
Available-for-sale Securities, Gross Unrealized Gains | 18 | 7 |
Available-for-sale Securities, Gross Unrealized Losses | 45 | 11 |
Available-for-sale Securities, Fair Value | 5,006 | 5,038 |
Held-to-maturity Securities, Amortized Cost | 3,125 | 3,185 |
Held-to-maturity Securities, Gross Unrealized Gains | 25 | |
Held-to-maturity Securities, Gross Unrealized Losses | 20 | |
Held-to-maturity Securities, Fair Value | $ 3,105 | $ 3,210 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | Sep. 30, 2018USD ($)Security | Dec. 31, 2017USD ($)Security |
Schedule of Available-for-sale Securities [Line Items] | ||
Federal Reserve stock owned by Company | $ | $ 509,000 | $ 508,000 |
Federal Home Loan Bank stock (FHLB) | $ | 585,000 | 559,000 |
Securities available for sale pledged as collateral on public deposits | $ | $ 72,000,000 | $ 75,500,000 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 6 | |
Number of available for sale securities related to unrealized losses more than twelve months | 14 | 15 |
Number of securities related to unrealized losses | 1 | 1 |
Number of available for sale securities related to unrealized losses | 6 | |
GSE - Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 5 | |
Number of available for sale securities related to unrealized losses more than twelve months | 14 | 12 |
Number of available for sale securities related to unrealized losses | 4 | |
Available for sale securities | $ | $ 0 | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 1 | |
States And Political [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses more than twelve months | 8 | |
Number of securities related to unrealized losses | 8 | |
Number of securities related to unrealized losses | 2 | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses more than twelve months | 7 | |
Number of securities related to unrealized losses | 5 | |
Number of available for sale securities related to unrealized losses | 1 | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses more than twelve months | 1 | |
Number of securities related to unrealized losses | 2 | |
Number of available for sale securities related to unrealized losses | 1 |
Investment Securities - Sales o
Investment Securities - Sales of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | ||
Gross proceeds from sales | $ 8,918 | $ 8,918 |
Realized losses from sales | 14 | 14 |
Net realized gains | $ (14) | $ (14) |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 13,277 | $ 17,292 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 135 | 161 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 71,789 | 67,726 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 2,964 | 1,360 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 85,066 | 85,018 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 3,099 | 1,521 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 8,739 | 5,607 |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 83 | 45 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 1,989 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 60 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 10,728 | 5,607 |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 143 | 45 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 2,008 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 11 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 1,969 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 45 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 1,969 | 2,008 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 45 | 11 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,105 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 20 | |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 0 | |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 0 | |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 3,105 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 20 | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 4,920 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 16 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 4,920 | |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 16 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 4,987 | 9,028 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 60 | 112 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 44,001 | 43,352 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 1,561 | 828 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 48,988 | 52,380 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 1,621 | 940 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 838 | 1,338 |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 18 | 9 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 0 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 0 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 838 | 1,338 |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 18 | 9 |
GSE - Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,370 | 5,074 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 59 | 37 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 14,837 | 14,057 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 766 | 337 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 18,207 | 19,131 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 825 | 374 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 1,182 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 1 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 10,982 | 10,317 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 592 | 195 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 10,982 | 11,499 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 592 | 196 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 4,796 | 4,269 |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 45 | 36 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 1,989 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 60 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 6,785 | 4,269 |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | $ 105 | $ 36 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months | $ 16,375 | |
Due after one but within five years, Amortized Cost | 40,374 | |
Due after five but within ten years, Amortized Cost | 16,926 | |
Due after ten years, Amortized Cost | 21,825 | |
Available-for-sale Securities, Amortized Cost | 95,500 | $ 97,185 |
Due within twelve months | 16,244 | |
Due after one but within five years, Estimated Fair Value | 39,173 | |
Due after five but within ten years, Estimated Fair Value | 16,138 | |
Due after ten years, Estimated Fair Value | 20,916 | |
Fair Value | $ 92,471 | 95,743 |
Due within twelve months | 1.36% | |
Due after one but within five years, Book Yield | 2.00% | |
Due after five but within ten years, Book Yield | 1.83% | |
Due after ten years, Book Yield | 2.28% | |
Total securities available for sale, Book Yield | 1.92% | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 5,033 | |
Available-for-sale Securities, Amortized Cost | 5,033 | 5,042 |
Due after one but within five years, Estimated Fair Value | 5,006 | |
Fair Value | $ 5,006 | 5,038 |
Due after one but within five years, Book Yield | 2.88% | |
Total securities available for sale, Book Yield | 2.88% | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 4,937 | |
Available-for-sale Securities, Amortized Cost | 4,937 | |
Due after one but within five years, Estimated Fair Value | 4,921 | |
Fair Value | $ 4,921 | |
Due after one but within five years, Book Yield | 2.66% | |
Total securities available for sale, Book Yield | 2.66% | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months | $ 15,019 | |
Due after one but within five years, Amortized Cost | 27,613 | |
Due after five but within ten years, Amortized Cost | 7,041 | |
Due after ten years, Amortized Cost | 3,065 | |
Available-for-sale Securities, Amortized Cost | 52,738 | 56,522 |
Due within twelve months | 14,882 | |
Due after one but within five years, Estimated Fair Value | 26,504 | |
Due after five but within ten years, Estimated Fair Value | 6,680 | |
Due after ten years, Estimated Fair Value | 3,096 | |
Fair Value | $ 51,162 | 55,615 |
Due within twelve months | 1.15% | |
Due after one but within five years, Book Yield | 1.65% | |
Due after five but within ten years, Book Yield | 1.30% | |
Due after ten years, Book Yield | 0.82% | |
Total securities available for sale, Book Yield | 1.41% | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 1,710 | |
Due after five but within ten years, Amortized Cost | 8,190 | |
Due after ten years, Amortized Cost | 9,132 | |
Available-for-sale Securities, Amortized Cost | 19,032 | 21,253 |
Due after one but within five years, Estimated Fair Value | 1,687 | |
Due after five but within ten years, Estimated Fair Value | 7,830 | |
Due after ten years, Estimated Fair Value | 8,690 | |
Fair Value | $ 18,207 | 20,891 |
Due after one but within five years, Book Yield | 2.39% | |
Due after five but within ten years, Book Yield | 2.01% | |
Due after ten years, Book Yield | 1.90% | |
Total securities available for sale, Book Yield | 1.99% | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months | $ 1,356 | |
Due after one but within five years, Amortized Cost | 1,081 | |
Due after five but within ten years, Amortized Cost | 1,695 | |
Due after ten years, Amortized Cost | 9,628 | |
Available-for-sale Securities, Amortized Cost | 13,760 | 14,368 |
Due within twelve months | 1,362 | |
Due after one but within five years, Estimated Fair Value | 1,055 | |
Due after five but within ten years, Estimated Fair Value | 1,628 | |
Due after ten years, Estimated Fair Value | 9,130 | |
Fair Value | $ 13,175 | $ 14,199 |
Due within twelve months | 3.67% | |
Due after one but within five years, Book Yield | 3.23% | |
Due after five but within ten years, Book Yield | 3.12% | |
Due after ten years, Book Yield | 3.10% | |
Total securities available for sale, Book Yield | 3.17% |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 8,167 | |
Due after five but within ten years, Amortized Cost | 2,704 | |
Total Securities held for maturity, Amortized Cost | 10,871 | |
Due after one but within five years, Estimated Fair Value | 8,057 | |
Due after five but within ten years, Estimated Fair Value | 2,671 | |
Total Securities held for maturity, Estimated Fair Value | $ 10,728 | $ 11,461 |
Due after one but within five years | 2.39% | |
Due after five but within ten years | 2.48% | |
Total Securities held for maturity, Estimated Fair Value | 2.41% | |
U.S. Government Agencies [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after five but within ten years, Amortized Cost | $ 857 | |
Total Securities held for maturity, Amortized Cost | 857 | |
Due after five but within ten years, Estimated Fair Value | 839 | |
Total Securities held for maturity, Estimated Fair Value | $ 839 | 1,339 |
Due after five but within ten years | 2.42% | |
Total Securities held for maturity, Estimated Fair Value | 2.42% | |
State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 5,042 | |
Due after five but within ten years, Amortized Cost | 1,847 | |
Total Securities held for maturity, Amortized Cost | 6,889 | |
Due after one but within five years, Estimated Fair Value | 4,952 | |
Due after five but within ten years, Estimated Fair Value | 1,832 | |
Total Securities held for maturity, Estimated Fair Value | $ 6,784 | 6,912 |
Due after five but within ten years | 2.16% | |
Due after ten years, Book Yield | 2.50% | |
Total Securities held for maturity, Estimated Fair Value | 2.25% | |
Corporate Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 3,125 | |
Total Securities held for maturity, Amortized Cost | 3,125 | |
Due after one but within five years, Estimated Fair Value | 3,105 | |
Total Securities held for maturity, Estimated Fair Value | $ 3,105 | $ 3,210 |
Due after one but within five years | 2.76% | |
Total Securities held for maturity, Estimated Fair Value | 2.76% |
Loans Held for Investment - Com
Loans Held for Investment - Composition of Net Loans Held for Investment by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 377,986 | $ 356,975 | ||||
Less: | ||||||
Allowance for loan losses | (2,365) | $ (2,583) | (2,458) | $ (2,448) | $ (2,551) | $ (2,707) |
Deferred loan (fees) costs, net | (248) | (104) | ||||
Net loans held for investment | 375,373 | 354,413 | ||||
Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,297) | (1,460) | (1,401) | (1,301) | (1,323) | (1,404) |
Commercial [Member] | Commercial Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 56,223 | 54,912 | ||||
Commercial [Member] | Real Estate - Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 136,793 | 114,712 | ||||
Commercial [Member] | Other Real Estate Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 30,886 | 40,186 | ||||
Non-Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,068) | $ (1,123) | (1,057) | $ (1,147) | $ (1,228) | $ (1,303) |
Non-Commercial [Member] | Consumer Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 11,803 | 10,774 | ||||
Non-Commercial [Member] | Real Estate 1 - 4 Family Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 7,857 | 5,024 | ||||
Non-Commercial [Member] | Real Estate - Residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 80,925 | 78,023 | ||||
Non-Commercial [Member] | Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 51,221 | 50,506 | ||||
Non-Commercial [Member] | Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 2,278 | $ 2,838 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in Allowance for Loss Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 2,583 | $ 2,551 | $ 2,458 | $ 2,707 |
Provision (recovery) charged to operations | (24) | (136) | 92 | (309) |
Charge-offs | (214) | (13) | (302) | (113) |
Recoveries | 20 | 46 | 117 | 163 |
Net (charge-offs) / Recoveries | (194) | 33 | (185) | 50 |
Balance at end of period | 2,365 | 2,448 | 2,365 | 2,448 |
Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,460 | 1,323 | 1,401 | 1,404 |
Provision (recovery) charged to operations | (17) | (34) | 49 | (169) |
Charge-offs | (156) | (6) | (187) | (22) |
Recoveries | 10 | 18 | 34 | 88 |
Net (charge-offs) / Recoveries | (146) | 12 | (153) | 66 |
Balance at end of period | 1,297 | 1,301 | 1,297 | 1,301 |
Non-Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,123 | 1,228 | 1,057 | 1,303 |
Provision (recovery) charged to operations | (7) | (102) | 43 | (140) |
Charge-offs | (58) | (7) | (115) | (91) |
Recoveries | 10 | 28 | 83 | 75 |
Net (charge-offs) / Recoveries | (48) | 21 | (32) | (16) |
Balance at end of period | $ 1,068 | $ 1,147 | $ 1,068 | $ 1,147 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | $ 147 | $ 194 | ||||
Individually Evaluated, Loans | 4,795 | 5,569 | ||||
Collectively Evaluated, Reserve | 2,218 | 2,264 | ||||
Collectively Evaluated, Loans | 372,943 | 351,302 | ||||
Total Reserve | 2,365 | $ 2,583 | 2,458 | $ 2,448 | $ 2,551 | $ 2,707 |
Total Loans | 377,738 | 356,871 | ||||
Commercial [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 40 | 22 | ||||
Individually Evaluated, Loans | 1,484 | 1,788 | ||||
Collectively Evaluated, Reserve | 1,257 | 1,379 | ||||
Collectively Evaluated, Loans | 222,418 | 208,022 | ||||
Total Reserve | 1,297 | 1,460 | 1,401 | 1,301 | 1,323 | 1,404 |
Total Loans | 223,902 | 209,810 | ||||
Non-Commercial [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 107 | 172 | ||||
Individually Evaluated, Loans | 3,311 | 3,781 | ||||
Collectively Evaluated, Reserve | 961 | 885 | ||||
Collectively Evaluated, Loans | 150,525 | 143,280 | ||||
Total Reserve | 1,068 | $ 1,123 | 1,057 | $ 1,147 | $ 1,228 | $ 1,303 |
Total Loans | $ 153,836 | $ 147,061 |
Allowance for Loan Losses - Pas
Allowance for Loan Losses - Past Due Information of Loan Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | $ 2,307 | $ 1,795 |
Current Loans | 375,431 | 355,076 |
Total Loans | 377,738 | 356,871 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,272 | 770 |
Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,035 | 1,025 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 777 | 377 |
Current Loans | 136,016 | 114,335 |
Total Loans | 136,793 | 114,712 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Commercial [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 397 | |
Real Estate - Commercial [Member] | Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 380 | 377 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 48 | 51 |
Current Loans | 30,838 | 40,135 |
Total Loans | 30,886 | 40,186 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Real Estate Construction [Member] | Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 48 | 51 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 7,857 | |
Total Loans | 7,857 | 5,024 |
Accruing Loans 90 or More Days Past Due | 0 | |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,188 | 1,119 |
Current Loans | 79,489 | 76,800 |
Total Loans | 80,677 | 77,919 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Residential [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 699 | 579 |
Real Estate - Residential [Member] | Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 489 | 540 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 245 | 131 |
Current Loans | 50,976 | 50,375 |
Total Loans | 51,221 | 50,506 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Home Equity [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 127 | 108 |
Home Equity [Member] | Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 118 | 23 |
Other Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 2,278 | 2,838 |
Total Loans | 2,278 | 2,838 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 5,024 | |
Total Loans | 5,024 | |
Accruing Loans 90 or More Days Past Due | 0 | |
Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 34 | |
Current Loans | 56,223 | 54,878 |
Total Loans | 56,223 | 54,912 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial Loan [Member] | Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 34 | |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 49 | 83 |
Current Loans | 11,754 | 10,691 |
Total Loans | 11,803 | 10,774 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer Loans [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | $ 49 | $ 83 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) | 9 Months Ended | |
Sep. 30, 2018USD ($)Loan | Dec. 31, 2017Loan | |
Allowance For Loan Losses [Line Items] | ||
Financing receivable recorded investment number of days past due | 90 days | |
Real Estate - Residential [Member] | ||
Allowance For Loan Losses [Line Items] | ||
Foreclosed residential real estate, loan amount | $ 409,000 | |
Residential real estate in process of foreclosure, loan amount | $ 145,000 | |
Number of nonperforming loans | Loan | 0 | 0 |
Allowance for Loan Losses - Com
Allowance for Loan Losses - Composition of Nonaccrual Loans by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 2,307 | $ 1,795 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 777 | 377 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 48 | 51 |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 1,188 | 1,119 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 245 | 131 |
Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 34 | |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 49 | 83 |
Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 1,035 | 1,025 |
Loans 90 Days or More Past Due [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 380 | 377 |
Loans 90 Days or More Past Due [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 48 | 51 |
Loans 90 Days or More Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 489 | 540 |
Loans 90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 118 | 23 |
Loans 90 Days or More Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 34 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Risk Grades of Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 377,738 | $ 356,871 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 136,793 | 114,712 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 30,886 | 40,186 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7,857 | 5,024 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 80,677 | 77,919 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 51,221 | 50,506 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,278 | 2,838 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 56,223 | 54,912 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,803 | 10,774 |
Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 362,237 | 338,914 |
Pass [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 132,571 | 109,224 |
Pass [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 28,433 | 38,082 |
Pass [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7,857 | 5,024 |
Pass [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 73,807 | 69,645 |
Pass [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 50,694 | 49,743 |
Pass [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,278 | 2,838 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 54,881 | 53,649 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,716 | 10,709 |
Watch [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 12,012 | 14,172 |
Watch [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,176 | 3,321 |
Watch [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,065 | 1,713 |
Watch [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,946 | 7,119 |
Watch [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 408 | 740 |
Watch [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,331 | 1,215 |
Watch [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 86 | 64 |
Sub-standard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,489 | 3,785 |
Sub-standard [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,046 | 2,167 |
Sub-standard [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 388 | 391 |
Sub-standard [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 924 | 1,155 |
Sub-standard [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 119 | 23 |
Sub-standard [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11 | 48 |
Sub-standard [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 1 | $ 1 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Summary of Performing and Nonperforming Loans by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 377,738 | $ 356,871 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 136,793 | 114,712 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 30,886 | 40,186 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7,857 | 5,024 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 80,677 | 77,919 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 51,221 | 50,506 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,278 | 2,838 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 56,223 | 54,912 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,803 | 10,774 |
Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 376,703 | 355,846 |
Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 136,413 | 114,335 |
Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 30,838 | 40,135 |
Performing [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7,857 | 5,024 |
Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 80,188 | 77,379 |
Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 51,103 | 50,483 |
Performing [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,278 | 2,838 |
Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 56,223 | 54,878 |
Performing [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,803 | 10,774 |
Non-Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,035 | 1,025 |
Non-Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 380 | 377 |
Non-Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 48 | 51 |
Non-Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 489 | 540 |
Non-Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 118 | 23 |
Non-Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 34 |
Allowance for Loan Losses - S_3
Allowance for Loan Losses - Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 5,333 | $ 5,333 | $ 6,107 | ||
Recorded Investment With No Allowance | 1,209 | 1,209 | 2,802 | ||
Recorded Investment With Allowance | 3,639 | 3,639 | 2,767 | ||
Related Allowance | 147 | 147 | 194 | ||
Average Recorded Investment | 4,985 | $ 5,551 | 4,795 | $ 5,817 | |
Interest Income | 42 | 58 | 159 | 179 | |
Real Estate - Commercial [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 1,381 | 1,381 | 1,593 | ||
Recorded Investment With No Allowance | 199 | 199 | 1,305 | ||
Recorded Investment With Allowance | 1,182 | 1,182 | 288 | ||
Related Allowance | 36 | 36 | 9 | ||
Average Recorded Investment | 1,455 | 1,661 | 1,381 | 1,664 | |
Interest Income | 11 | 17 | 41 | 46 | |
Other Real Estate Construction [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 634 | 634 | 689 | ||
Recorded Investment With No Allowance | 101 | 101 | 101 | ||
Recorded Investment With Allowance | 48 | 48 | 50 | ||
Related Allowance | 4 | 4 | 3 | ||
Average Recorded Investment | 97 | 154 | 96 | 223 | |
Interest Income | 1 | 1 | 2 | 4 | |
Real Estate 1 - 4 Family Construction [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Average Recorded Investment | 2 | 4 | |||
Real Estate - Residential [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 3,148 | 3,148 | 3,701 | ||
Recorded Investment With No Allowance | 812 | 812 | 1,319 | ||
Recorded Investment With Allowance | 2,336 | 2,336 | 2,382 | ||
Related Allowance | 105 | 105 | 171 | ||
Average Recorded Investment | 3,277 | 3,560 | 3,148 | 3,777 | |
Interest Income | 27 | 39 | 110 | 124 | |
Home Equity [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 130 | 130 | 35 | ||
Recorded Investment With No Allowance | 97 | 97 | 22 | ||
Recorded Investment With Allowance | 33 | 33 | 13 | ||
Related Allowance | 1 | 1 | 1 | ||
Average Recorded Investment | 113 | 112 | 130 | 74 | |
Interest Income | 2 | 4 | 1 | ||
Commercial Loan [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 7 | 7 | 44 | ||
Recorded Investment With No Allowance | 10 | ||||
Recorded Investment With Allowance | 7 | 7 | 34 | ||
Related Allowance | 10 | ||||
Average Recorded Investment | 8 | 11 | 7 | 20 | |
Interest Income | 1 | 1 | |||
Consumer Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 33 | 33 | 45 | ||
Recorded Investment With No Allowance | $ 45 | ||||
Recorded Investment With Allowance | 33 | 33 | |||
Related Allowance | 1 | 1 | |||
Average Recorded Investment | 35 | $ 51 | 33 | 55 | |
Interest Income | $ 1 | $ 2 | $ 3 |
Troubled Debt Restructures - Ad
Troubled Debt Restructures - Additional Information (Detail) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)Contract | Sep. 30, 2017Contract | |
Receivables [Abstract] | ||||
Troubled debt restructuring outstanding | $ | $ 3,800,000 | $ 3,800,000 | ||
Number of contracts on non-accruing basis | Contract | 1 | |||
Number of TDR's payment default | Contract | 1 | 3 | ||
TDR is defined as being past due | 90 days | |||
Allowance for loan loss on TDR | $ | $ 139,000 | $ 123,000 |
Troubled Debt Restructures - Br
Troubled Debt Restructures - Breakdown of Types of Concessions Made by Loan Class (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 2 | 6 | 8 |
Pre-Modification Outstanding Recorded Investment | $ 218 | $ 195 | $ 434 | $ 848 |
Post-Modification Outstanding Recorded Investment | $ 203 | $ 193 | $ 390 | $ 811 |
Other Payment Terms [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 12 | |||
Post-Modification Outstanding Recorded Investment | $ 11 | |||
Other Payment Terms [Member] | Consumer Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 9 | $ 9 | ||
Post-Modification Outstanding Recorded Investment | $ 7 | $ 7 | ||
Other Payment Terms [Member] | Real Estate - Commercial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 166 | |||
Post-Modification Outstanding Recorded Investment | $ 163 | |||
Other Payment Terms [Member] | Real Estate - Residential [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 1 | 6 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 218 | $ 186 | $ 434 | $ 661 |
Post-Modification Outstanding Recorded Investment | $ 203 | $ 186 | $ 390 | $ 630 |
Troubled Debt Restructures - Sc
Troubled Debt Restructures - Schedule of Successes and Failures of Types of Loan Debt Restructuring (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | Sep. 30, 2018USD ($)LoanContract | Sep. 30, 2017USD ($)LoanContract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Contract | 3 | 2 | 6 | 8 |
Recorded Investments | $ 3,800 | $ 3,800 | ||
Paid In Full [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 8 | 5 | ||
Recorded Investments | 742 | $ 562 | $ 742 | $ 562 |
Paying as Restructured [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 8 | 8 | ||
Recorded Investments | 447 | 811 | $ 447 | $ 811 |
Foreclosure/ Default [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | ||
Recorded Investments | 156 | 15 | $ 156 | $ 15 |
Forgiveness of Principal Other [Member] | Paid In Full [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 8 | 5 | ||
Recorded Investments | 742 | 562 | $ 742 | $ 562 |
Forgiveness of Principal Other [Member] | Paying as Restructured [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 8 | 8 | ||
Recorded Investments | 447 | 811 | $ 447 | $ 811 |
Forgiveness of Principal Other [Member] | Foreclosure/ Default [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | ||
Recorded Investments | $ 156 | $ 15 | $ 156 | $ 15 |
Commitments and Contingencies -
Commitments and Contingencies - Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) $ in Thousands | Sep. 30, 2018USD ($) |
Loss Contingencies [Line Items] | |
Total commitments | $ 125,843 |
Commitments to Extend Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 114,574 |
Credit Card Commitments [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 10,334 |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | $ 935 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Detail) - Uwharrie Bank [Member] | 3 Months Ended | 9 Months Ended |
Mar. 31, 2018USD ($)Option | Sep. 30, 2018USD ($) | |
Lease for Branch [Member] | ||
Loss Contingencies [Line Items] | ||
Operating lease, term of contract | 10 years | |
Annual cost of lease | $ 189,000 | |
Lease annual escalator percentage | 2.00% | |
Lease expiration year | 2,028 | |
Number of times to renew amended office lease option | Option | 2 | |
Lease renewal option | 5 years | |
Commercial Property [Member] | ||
Loss Contingencies [Line Items] | ||
Operating lease, term of contract | 5 years | |
Lease expiration date | Sep. 30, 2021 | |
Annual cost of lease | $ 156,000 | |
Lease annual escalator percentage | 2.625% |
Fair Value Disclosures - Fair V
Fair Value Disclosures - Fair Value Information for Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 92,471 | $ 95,743 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,006 | 5,038 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 4,921 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 87,550 | 95,743 |
Fair Value on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 92,471 | 95,743 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 4,921 | |
Fair Value on a Recurring Basis [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 51,162 | 55,615 |
Fair Value on a Recurring Basis [Member] | GSE - Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 18,207 | 20,891 |
Fair Value on a Recurring Basis [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 13,175 | 14,199 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,006 | 5,038 |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 4,921 | |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 4,921 | |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 87,550 | 95,743 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 51,162 | 55,615 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | GSE - Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 18,207 | 20,891 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 13,175 | 14,199 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,006 | 5,038 |
Fair Value on a Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | $ 0 | $ 0 |
Fair Value Disclosures - Assets
Fair Value Disclosures - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 92,471 | $ 95,743 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 4,921 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 87,550 | 95,743 |
Fair Value on a Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,540 | 2,624 |
Other real estate owned | 990 | 1,785 |
Fair Value | 4,530 | 4,409 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,540 | 2,624 |
Other real estate owned | 990 | 1,785 |
Fair Value | 4,530 | 4,409 |
Total liabilities at fair value | $ 0 | $ 0 |
Fair Value Disclosures - Quanti
Fair Value Disclosures - Quantitative Information about Level 3 Fair Value Measurements (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Discounted Cash Flows [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted cash flows | |
Discounted Cash Flows [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 4.00% | 4.00% |
Discounted Cash Flows [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 8.75% | 8.75% |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 25.00% | 25.00% |
OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | |
OREO [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
OREO [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 10.00% | 10.00% |
Fair Values of Financial Inst_3
Fair Values of Financial Instruments and Interest Rate Risk - Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
FINANCIAL ASSETS | ||
Securities available for sale | $ 92,471 | $ 95,743 |
Securities held to maturity | 10,728 | 11,461 |
Loans held for investment, net | 375,373 | 354,413 |
Accrued interest receivable | 1,681 | 1,709 |
FINANCIAL LIABILITIES | ||
Long-term debt | 9,934 | 9,534 |
Accrued interest payable | 12 | 148 |
Carrying Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 116,726 | 70,403 |
Securities available for sale | 92,471 | 95,743 |
Securities held to maturity | 10,871 | 11,458 |
Loans held for investment, net | 377,738 | 356,871 |
Loans held for sale | 1,946 | 4,414 |
Restricted stock | 1,094 | 1,067 |
Mortgage servicing rights | 1,912 | 2,125 |
Accrued interest receivable | 1,681 | 1,709 |
FINANCIAL LIABILITIES | ||
Deposits | 573,542 | 512,628 |
Short-term borrowings | 1,305 | 1,752 |
Long-term debt | 9,934 | 9,534 |
Accrued interest payable | 12 | 148 |
Estimated Fair Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 116,726 | 70,379 |
Securities available for sale | 92,471 | 95,743 |
Securities held to maturity | 10,728 | 11,461 |
Loans held for investment, net | 371,808 | 359,325 |
Loans held for sale | 1,946 | 4,414 |
Restricted stock | 1,094 | 1,067 |
Mortgage servicing rights | 3,532 | 3,310 |
Accrued interest receivable | 1,681 | 1,709 |
FINANCIAL LIABILITIES | ||
Deposits | 526,741 | 481,300 |
Short-term borrowings | 1,305 | 1,752 |
Long-term debt | 9,944 | 9,658 |
Accrued interest payable | 12 | 148 |
Level 1 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 114,518 | 67,913 |
Securities available for sale | 4,921 | |
Restricted stock | 1,094 | 1,067 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 2,208 | 2,466 |
Securities available for sale | 87,550 | 95,743 |
Securities held to maturity | 10,728 | 11,461 |
Loans held for sale | 1,946 | 4,414 |
Mortgage servicing rights | 3,532 | 3,310 |
FINANCIAL LIABILITIES | ||
Deposits | 526,741 | 481,300 |
Short-term borrowings | 1,305 | 1,752 |
Level 3 [Member] | ||
FINANCIAL ASSETS | ||
Loans held for investment, net | 371,808 | 359,325 |
Accrued interest receivable | 1,681 | 1,709 |
FINANCIAL LIABILITIES | ||
Long-term debt | 9,944 | 9,658 |
Accrued interest payable | $ 12 | $ 148 |
Fair Values of Financial Inst_4
Fair Values of Financial Instruments and Interest Rate Risk - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Short term borrowings due period | 1 year |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2018Property | |
Accounting Changes And Error Corrections [Abstract] | |
Number of property | 2 |