Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 02, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | QCR HOLDINGS INC | |
Entity Central Index Key | 906,465 | |
Trading Symbol | qcrh | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 13,181,153 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 77,161,353 | $ 70,569,993 |
Federal funds sold | 19,183,000 | 22,257,000 |
Interest-bearing deposits at financial institutions | 53,171,325 | 63,948,925 |
Securities held to maturity, at amortized cost | 324,203,634 | 322,909,056 |
Securities available for sale, at fair value | 269,281,713 | 251,113,139 |
Total securities | 593,485,347 | 574,022,195 |
Loans receivable held for sale | 705,800 | 1,135,500 |
Loans/leases receivable held for investment | 2,552,859,808 | 2,404,351,485 |
Gross loans/leases receivable | 2,553,565,608 | 2,405,486,985 |
Less allowance for estimated losses on loans/leases | (33,356,632) | (30,757,448) |
Net loans/leases receivable | 2,520,208,976 | 2,374,729,537 |
Bank-owned life insurance | 58,186,098 | 57,257,051 |
Premises and equipment, net | 61,218,425 | 60,643,508 |
Restricted investment securities | 16,103,925 | 14,997,025 |
Other real estate owned, net | 5,173,521 | 5,523,104 |
Goodwill | 13,110,913 | 13,110,913 |
Core deposit intangible | 6,919,480 | 7,381,213 |
Other assets | 33,264,332 | 37,503,284 |
Total assets | 3,457,186,695 | 3,301,943,748 |
Deposits: | ||
Noninterest-bearing | 760,624,943 | 797,415,090 |
Interest-bearing | 2,109,609,296 | 1,871,846,183 |
Total deposits | 2,870,234,239 | 2,669,261,273 |
Short-term borrowings | 18,217,393 | 39,971,387 |
Federal Home Loan Bank advances | 106,500,000 | 137,500,000 |
Other borrowings | 72,000,000 | 80,000,000 |
Junior subordinated debentures | 33,546,425 | 33,480,202 |
Other liabilities | 51,605,203 | 55,690,087 |
Total liabilities | 3,152,103,260 | 3,015,902,949 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $1 par value; shares authorized 250,000 June 2017 and December 2016 - No shares issued or outstanding | ||
Common stock, $1 par value; shares authorized 20,000,000 June 2017 - 13,175,234 shares issued and outstanding December 2016 - 13,106,845 shares issued and outstanding | 13,175,234 | 13,106,845 |
Additional paid-in capital | 158,001,006 | 156,776,642 |
Retained earnings | 135,254,306 | 118,616,901 |
Accumulated other comprehensive loss: | ||
Securities available for sale | (468,190) | (1,527,433) |
Interest rate cap derivatives | (878,921) | (932,156) |
Total stockholders' equity | 305,083,435 | 286,040,799 |
Total liabilities and stockholders' equity | $ 3,457,186,695 | $ 3,301,943,748 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 250,000 | 250,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 13,175,235 | 13,106,845 |
Common stock, shares outstanding (in shares) | 13,175,235 | 13,106,845 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest and dividend income: | ||||
Loans/leases, including fees | $ 28,114,729 | $ 20,238,179 | $ 55,326,146 | $ 39,938,549 |
Securities: | ||||
Taxable | 1,260,575 | 1,192,541 | 2,402,810 | 2,548,744 |
Nontaxable | 2,688,243 | 2,276,203 | 5,335,965 | 4,518,218 |
Interest-bearing deposits at financial institutions | 219,714 | 62,242 | 418,366 | 122,559 |
Restricted investment securities | 131,890 | 133,546 | 262,320 | 264,110 |
Federal funds sold | 38,117 | 10,573 | 52,760 | 23,163 |
Total interest and dividend income | 32,453,268 | 23,913,284 | 63,798,367 | 47,415,343 |
Interest expense: | ||||
Deposits | 2,990,603 | 1,344,398 | 5,223,359 | 2,634,196 |
Short-term borrowings | 19,157 | 18,065 | 43,117 | 61,131 |
FHLB advances | 354,213 | 415,933 | 757,682 | 857,637 |
Other borrowings | 695,669 | 824,437 | 1,378,877 | 1,649,520 |
Junior subordinated debentures | 346,929 | 301,638 | 679,752 | 606,524 |
Total interest expense | 4,406,571 | 2,904,471 | 8,082,787 | 5,809,008 |
Net interest income | 28,046,697 | 21,008,813 | 55,715,580 | 41,606,335 |
Provision for loan/lease losses | (2,022,993) | (1,197,850) | (4,128,102) | (3,270,835) |
Net interest income after provision for loan/lease losses | 26,023,704 | 19,810,963 | 51,587,478 | 38,335,500 |
Noninterest income: | ||||
Trust department fees | 1,692,001 | 1,512,083 | 3,432,208 | 3,087,990 |
Investment advisory and management fees | 868,835 | 692,738 | 1,830,434 | 1,351,123 |
Deposit service fees | 1,458,359 | 946,810 | 2,774,749 | 1,877,889 |
Gains on sales of residential real estate loans | 112,628 | 84,413 | 208,951 | 144,799 |
Gains on sales of government guaranteed portions of loans | 87,053 | 1,603,890 | 1,037,694 | 2,482,418 |
Swap fee income | 327,577 | 167,582 | 441,097 | 1,024,540 |
Securities gains, net | 38,464 | 18,030 | 38,464 | 376,510 |
Earnings on bank-owned life insurance | 459,359 | 480,520 | 929,046 | 874,129 |
Debit card fees | 743,521 | 343,748 | 1,446,322 | 651,399 |
Correspondent banking fees | 200,057 | 244,939 | 445,246 | 547,069 |
Other | 794,664 | 667,648 | 1,482,061 | 1,167,008 |
Total noninterest income | 6,782,518 | 6,762,401 | 14,066,272 | 13,584,874 |
Noninterest expense: | ||||
Salaries and employee benefits | 12,930,944 | 10,917,473 | 26,238,275 | 21,718,380 |
Occupancy and equipment expense | 2,698,336 | 1,884,556 | 5,200,555 | 3,711,544 |
Professional and data processing fees | 2,340,699 | 1,542,322 | 4,424,091 | 2,989,735 |
Acquisition costs | 354,969 | 354,969 | ||
FDIC insurance, other insurance and regulatory fees | 645,277 | 649,604 | 1,266,519 | 1,283,969 |
Loan/lease expense | 260,284 | 154,349 | 553,822 | 317,168 |
Net cost of operations of other real estate | 27,957 | 277,911 | 42,187 | 380,094 |
Advertising and marketing | 567,588 | 433,451 | 1,177,019 | 819,710 |
Bank service charges | 447,445 | 415,350 | 871,346 | 831,281 |
Losses on debt extinguishment, net | 83,197 | |||
Correspondent banking expense | 201,693 | 181,776 | 400,044 | 358,765 |
Other | 1,284,406 | 931,992 | 2,503,888 | 1,849,439 |
Total noninterest expense | 21,404,629 | 17,743,753 | 42,677,746 | 34,698,251 |
Net income before income taxes | 11,401,593 | 8,829,611 | 22,976,004 | 17,222,123 |
Federal and state income tax expense | 2,635,576 | 2,153,144 | 5,025,022 | 4,172,167 |
Net income | $ 8,766,017 | $ 6,676,467 | $ 17,950,982 | $ 13,049,956 |
Basic earnings (loss) per common share (in dollars per share) (in dollars per share) | $ 0.67 | $ 0.54 | $ 1.36 | $ 1.08 |
Diluted earnings (loss) per common share (in dollars per share) (in dollars per share) | $ 0.65 | $ 0.53 | $ 1.33 | $ 1.07 |
Weighted average common shares outstanding (in shares) | 13,170,283 | 12,335,077 | 13,151,833 | 12,064,349 |
Weighted average common and common equivalent shares outstanding (in shares) | 13,516,592 | 12,516,474 | 13,502,505 | 12,235,212 |
Common cash dividends declared, dividends per share (in dollars per share) | $ 0.05 | $ 0.04 | $ 0.10 | $ 0.08 |
Cash dividends declared per common share (in dollars per share) | $ 0.05 | $ 0.04 | $ 0.10 | $ 0.08 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 8,766,017 | $ 6,676,467 | $ 17,950,982 | $ 13,049,956 |
Unrealized gains on securities available for sale: | ||||
Unrealized holding gains arising during the period before tax | 1,170,310 | 2,081,800 | 1,768,500 | 6,945,518 |
Less reclassification adjustment for gains included in net income before tax | 38,464 | 18,030 | 38,464 | 376,510 |
1,131,846 | 2,063,770 | 1,730,036 | 6,569,008 | |
Unrealized losses on interest rate cap derivatives: | ||||
Unrealized holding losses arising during the period before tax | (132,352) | (159,691) | (177,554) | (549,627) |
Less reclassification adjustment for ineffectiveness and caplet amortization before tax | (136,639) | 20,154 | (259,452) | 35,591 |
4,287 | (179,845) | 81,898 | (585,218) | |
Other comprehensive income, before tax | 1,136,133 | 1,883,925 | 1,811,934 | 5,983,790 |
Tax expense | 434,394 | 703,292 | 699,456 | 2,277,746 |
Other comprehensive income, net of tax | 701,739 | 1,180,633 | 1,112,478 | 3,706,044 |
Comprehensive income | $ 9,467,756 | $ 7,857,100 | $ 19,063,460 | $ 16,756,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2015 | $ 11,761,083 | $ 123,282,851 | $ 92,965,645 | $ (2,123,829) | $ 225,885,750 |
Net income | 6,373,489 | 6,373,489 | |||
Other comprehensive income, net of tax | 2,525,411 | 2,525,411 | |||
Common cash dividends declared | (470,873) | (470,873) | |||
Proceeds from issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan | 5,054 | 94,560 | 99,614 | ||
Proceeds from issuance of common stock, stock options exercised | 46,020 | 729,473 | 775,493 | ||
Stock compensation expense | 382,761 | 382,761 | |||
Tax benefit of nonqualified stock options exercised | 22,508 | 22,508 | |||
Restricted stock awards - common stock | 22,382 | (22,382) | |||
Exchange of common stock in connection with stock options exercised and restricted stock vested | (19,628) | (431,806) | (451,434) | ||
Balance at Mar. 31, 2016 | 11,814,911 | 124,057,965 | 98,868,261 | 401,582 | 235,142,719 |
Balance at Dec. 31, 2015 | 11,761,083 | 123,282,851 | 92,965,645 | (2,123,829) | 225,885,750 |
Net income | 13,049,956 | ||||
Other comprehensive income, net of tax | 3,706,044 | ||||
Tax basis adjustment related to the acquisition of noncontrolling interest in m2 Lease Funds | 2,132,415 | ||||
Balance at Jun. 30, 2016 | 13,057,368 | 155,453,781 | 105,024,027 | 1,582,215 | 275,117,391 |
Balance at Mar. 31, 2016 | 11,814,911 | 124,057,965 | 98,868,261 | 401,582 | 235,142,719 |
Net income | 6,676,467 | 6,676,467 | |||
Other comprehensive income, net of tax | 1,180,633 | 1,180,633 | |||
Common cash dividends declared | (520,701) | (520,701) | |||
Proceeds from issuance of common stock, net of issuance costs | 1,215,000 | 28,613,916 | 29,828,916 | ||
Proceeds from issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan | 6,982 | 142,887 | 149,869 | ||
Proceeds from issuance of common stock, stock options exercised | 20,975 | 230,671 | 251,646 | ||
Tax basis adjustment related to the acquisition of noncontrolling interest in m2 Lease Funds | 2,132,415 | 2,132,415 | |||
Stock compensation expense | 187,569 | 187,569 | |||
Tax benefit of nonqualified stock options exercised | 87,858 | 87,858 | |||
Restricted stock awards - common stock | (500) | 500 | |||
Balance at Jun. 30, 2016 | 13,057,368 | 155,453,781 | 105,024,027 | 1,582,215 | 275,117,391 |
Balance at Dec. 31, 2016 | 13,106,845 | 156,776,642 | 118,616,901 | (2,459,589) | 286,040,799 |
Net income | 9,184,965 | 9,184,965 | |||
Other comprehensive income, net of tax | 410,739 | 410,739 | |||
Common cash dividends declared | (656,574) | (656,574) | |||
Proceeds from issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan | 3,573 | 83,091 | 86,664 | ||
Proceeds from issuance of common stock, stock options exercised | 44,284 | 630,290 | 674,574 | ||
Stock compensation expense | 388,753 | 388,753 | |||
Restricted stock awards - common stock | 13,289 | (13,289) | |||
Exchange of common stock in connection with stock options exercised and restricted stock vested | (6,772) | (283,518) | (290,290) | ||
Balance at Mar. 31, 2017 | 13,161,219 | 157,581,969 | 127,145,292 | (2,048,850) | 295,839,630 |
Balance at Dec. 31, 2016 | 13,106,845 | 156,776,642 | 118,616,901 | (2,459,589) | 286,040,799 |
Net income | 17,950,982 | ||||
Other comprehensive income, net of tax | 1,112,478 | ||||
Tax basis adjustment related to the acquisition of noncontrolling interest in m2 Lease Funds | |||||
Balance at Jun. 30, 2017 | 13,175,234 | 158,001,006 | 135,254,306 | (1,347,111) | 305,083,435 |
Balance at Mar. 31, 2017 | 13,161,219 | 157,581,969 | 127,145,292 | (2,048,850) | 295,839,630 |
Net income | 8,766,017 | 8,766,017 | |||
Other comprehensive income, net of tax | 701,739 | 701,739 | |||
Common cash dividends declared | (657,003) | (657,003) | |||
Proceeds from issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan | 4,582 | 170,061 | 174,643 | ||
Proceeds from issuance of common stock, stock options exercised | 8,027 | 109,392 | 117,419 | ||
Stock compensation expense | 168,314 | 168,314 | |||
Restricted stock awards - common stock | 2,000 | (2,000) | |||
Exchange of common stock in connection with stock options exercised and restricted stock vested | (594) | (26,730) | (27,324) | ||
Balance at Jun. 30, 2017 | $ 13,175,234 | $ 158,001,006 | $ 135,254,306 | $ (1,347,111) | $ 305,083,435 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | |
Retained Earnings [Member] | ||||
Common cash dividends declared, dividends per share (in dollars per share) | $ 0.05 | $ 0.05 | ||
Common Stock [Member] | ||||
Proceeds from issuance of common stock, stock options exercised, shares (in shares) | 8,027 | 44,284 | 20,975 | 46,020 |
Restricted stock awards, shares (in shares) | 2,000 | 13,289 | 500 | 22,382 |
Exchange of common stock in connection with stock options exercised and restricted stock vested, shares (in shares) | 594 | 6,772 | 19,628 | |
Common cash dividends declared, dividends per share (in dollars per share) | $ 0.04 | $ 0.04 | ||
Proceeds from issuance of common stock, net of issuance costs, shares (in shares) | 1,215,000 | |||
Proceeds from issuance of common stock, Employee Stock Purchase Plan, shares (in shares) | 4,582 | 3,573 | 6,982 | 5,054 |
Common cash dividends declared, dividends per share (in dollars per share) | $ 0.05 | $ 0.04 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 17,950,982 | $ 13,049,956 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 1,847,963 | 1,552,176 |
Provision for loan/lease losses | 4,128,102 | 3,270,835 |
Stock-based compensation expense | 557,067 | 570,330 |
Deferred compensation expense accrued | 724,422 | 623,831 |
Losses on other real estate owned, net | 3,596 | 157,739 |
Amortization of premiums on securities, net | 1,005,121 | 611,900 |
Securities gains, net | (38,464) | (376,510) |
Loans originated for sale | (32,130,683) | (43,526,263) |
Proceeds on sales of loans | 33,807,027 | 45,160,830 |
Gains on sales of residential real estate loans | (208,951) | (144,799) |
Gains on sales of government guaranteed portions of loans | (1,037,694) | (2,482,418) |
Losses on debt extinguishment, net | 83,197 | |
Amortization of core deposit intangible | 461,733 | 99,756 |
Accretion of acquisition fair value adjustments, net | (3,578,379) | (61,065) |
Increase in cash value of bank-owned life insurance | (929,046) | (874,129) |
Decrease (increase) in other assets | 3,412,207 | (4,330,548) |
Increase (decrease) in other liabilities | (7,059,305) | 1,386,323 |
Net cash provided by operating activities | 18,915,698 | 14,771,141 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Net decrease (increase) in federal funds sold | 3,074,000 | (975,000) |
Net decrease (increase) in interest-bearing deposits at financial institutions | 10,777,600 | (11,293,339) |
Proceeds from sales of other real estate owned | 487,815 | 864,817 |
Activity in securities portfolio: | ||
Purchases | (85,169,891) | (97,132,279) |
Calls, maturities and redemptions | 33,079,683 | 96,704,276 |
Paydowns | 21,606,220 | 13,321,512 |
Sales | 13,554,075 | 61,075,145 |
Activity in restricted investment securities: | ||
Purchases | (2,407,600) | (1,857,200) |
Redemptions | 1,300,700 | |
Net increase in loans/leases originated and held for investment | (146,365,255) | (124,972,098) |
Purchase of premises and equipment | (2,422,880) | (2,953,356) |
Net cash used in investing activities | (152,485,534) | (67,217,522) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposit accounts | 201,041,035 | 92,920,820 |
Net decrease in short-term borrowings | (21,753,994) | (93,100,968) |
Calls and maturities | (6,000,000) | (9,000,000) |
Net change in short-term and overnight advances | (25,000,000) | 64,900,000 |
Prepayments | (10,524,197) | |
Activity in other borrowings: | ||
Calls, maturities and scheduled principal payments | (8,000,000) | |
Prepayments | (10,759,000) | |
Retirement of junior subordinated debentures | (3,955,000) | |
Payment of cash dividends on common stock | (1,179,146) | (939,456) |
Proceeds from issuance of common stock, net | 1,053,300 | 914,099 |
Net cash provided by financing activities | 140,161,195 | 60,285,214 |
Net increase in cash and due from banks | 6,591,360 | 7,838,833 |
Cash and due from banks, beginning | 70,569,993 | 41,742,321 |
Cash and due from banks, ending | 77,161,353 | 49,581,154 |
Supplemental disclosure of cash flow information, cash payments for: | ||
Interest | 7,876,668 | 5,852,789 |
Income/franchise taxes, net | 7,450,738 | 4,869,300 |
Supplemental schedule of noncash investing activities: | ||
Change in accumulated other comprehensive income, unrealized gains on securities available for sale and derivative instruments, net | 1,112,478 | 3,706,044 |
Exchange of shares of common stock in connection with payroll taxes for restricted stock and in connection with stock options exercised | (317,614) | (451,434) |
Tax benefit of nonqualified stock options exercised | 110,366 | |
Transfers of loans to other real estate owned | 141,828 | 51,000 |
Due to broker for purchases of securities | (4,662,631) | (1,500,000) |
Dividends payable | 657,003 | 520,701 |
Tax basis adjustment related to the acquisition of noncontrolling interest in m2 Lease Funds | 2,132,415 | |
Decrease (increase) in the fair market value of interest rate swap assets and liabilities | (209,185) | 6,823,332 |
Common Stock Offering 1 [Member] | ||
Activity in other borrowings: | ||
Proceeds from issuance of common stock, net | $ 29,828,916 |
Consolidated Statements of Cas9
Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Common Stock Offering 1 [Member] | ||
Proceeds from issuance of common stock, net of issuance costs, shares (in shares) | 1,215,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation : The interim unaudited consolidated financial statements contained herein should be read in conjunction with the audited consolidated financial statements and accompanying notes to the consolidated financial statements for the fiscal year ended December 31, 2016, 10 March 10, 2017. The financial information of the Company included herein has been prepared in accordance with U.S. GAAP for interim financial reporting and has been prepared pursuant to the rules and regulations for reporting on Form 10 10 01 X. June 30, 2017, not December 31, 2017, The acronyms and abbreviations identified below are used throughout this Quarterly Report on Form 10 may Allowance: Allowance for estimated losses on loans/leases Guaranty Bank: Guaranty Bank and Trust Company AOCI: Accumulated other comprehensive income (loss) HTM: Held to maturity AFS: Available for sale m2: m2 ASC: Acocunting Standards Codification NIM: Net interest margin ASU: Accounting Standards Update NPA: Nonperforming asset BOLI: Bank-owned life insurance NPL: Nonperforming loan Caps: Interest rate cap derivatives OREO: Other real estate owned Community National: Community National Bancorporation OTTI: Other-than-temporary impairment CRBT: Cedar Rapids Bank & Trust Company PCI: Purchased credit impaired CRE: Commercial real estate Provision: Provision for loan/lease losses CSB: Community State Bank QCBT: Quad City Bank & Trust Company C&I: Commercial and industrial RB&T: Rockford Bank & Trust Company Dodd-Frank Act: Dodd-Frank Wall Street Reform and ROAA: Return on Average Assets Consumer Protection Act SBA: U.S. Small Business Administration EPS: Earnings per share SEC: Securities and Exchange Commission Exchange Act: Securities Exchange Act of 1934, TA: Tangible assets FASB: Financial Accounting Standards Board TCE: Tangible common equity FDIC: Federal Deposit Insurance Corporation TDRs: Troubled debt restructurings FHLB: Federal Home Loan Bank TEY: Tax equivalent yield FRB: Federal Reserve Bank of Chicago The Company: QCR Holdings, Inc. GAAP: Generally Accepted Accounting Principles USDA: U.S. Department of Agriculture Guaranty: Guaranty Bankshares, Ltd. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries which include four m2, T he acquisition of CSB occurred on August 31, 2016; June 30, 2017 December 31, 2016 six June 30, 2017, not June 30, 2016. On June 8, 2017, third fourth 2017, not 8 Recent accounting developments : In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 2014 09 2014 09 January 1, 2017, 2015 14 2014 09 January 1, 2018 not In January 2016, 2016 01, Financial Instruments – Overall 2016 01 2016 01 December 15, 2017, not In February 2016, 2016 02, Leases 2016 02, 2016 02. 2016 02 December 15, 2018, In June 2016, FASB issued ASU 2016 13, Financial Instruments – Credit Losses 2016 13 December 15, 2019, may December 15, 2018, Effective January 1, 2017, 2016 09, Compensation – Stock Compensation $90 second 2017 $623 first six 2017. |
Note 2 - Investment Securities
Note 2 - Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Investment Holdings [Text Block] | NOTE 2 – INVESTMENT SECURITIES The amortized cost and fair value of investment securities as of June 30, 2017 December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (Losses) Value June 30, 2017: Securities HTM: Municipal securities $ 323,153,634 $ 2,027,969 $ (3,242,226 ) $ 321,939,377 Other securities 1,050,000 - - 1,050,000 $ 324,203,634 $ 2,027,969 $ (3,242,226 ) $ 322,989,377 Securities AFS: U.S. govt. sponsored agency securities $ 42,037,160 $ 96,651 $ (189,347 ) $ 41,944,464 Residential mortgage-backed and related securities 166,063,973 245,551 (1,894,691 ) 164,414,833 Municipal securities 57,881,338 471,713 (252,541 ) 58,100,510 Other securities 4,065,468 778,988 (22,550 ) 4,821,906 $ 270,047,939 $ 1,592,903 $ (2,359,129 ) $ 269,281,713 December 31, 2016: Securities HTM: Municipal securities $ 321,859,056 $ 2,200,577 $ (4,694,734 ) $ 319,364,899 Other securities 1,050,000 - - 1,050,000 $ 322,909,056 $ 2,200,577 $ (4,694,734 ) $ 320,414,899 Securities AFS: U.S. govt. sponsored agency securities $ 46,281,306 $ 132,886 $ (330,585 ) $ 46,083,607 Residential mortgage-backed and related securities 150,465,222 174,993 (2,938,088 ) 147,702,127 Municipal securities 52,816,541 425,801 (637,916 ) 52,604,426 Other securities 4,046,332 703,978 (27,331 ) 4,722,979 $ 253,609,401 $ 1,437,658 $ (3,933,920 ) $ 251,113,139 The Company ’s HTM municipal securities consist largely of private issues of municipal debt. The large majority of the municipalities are located within the Midwest. The municipal debt investments are underwritten using specific guidelines with ongoing monitoring. The Company ’s residential mortgage-backed and related securities portfolio consists entirely of government sponsored or government guaranteed securities. The Company has not Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unre alized loss position as of June 30, 2017 December 31, 2016, Less than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses June 30, 2017: Securities HTM: Municipal securities $ 64,001,034 $ (1,792,524 ) $ 30,641,106 $ (1,449,702 ) $ 94,642,140 $ (3,242,226 ) Securities AFS: U.S. govt. sponsored agency securities $ 27,793,290 $ (184,702 ) $ 4,775,235 $ (4,645 ) $ 32,568,525 $ (189,347 ) Residential mortgage-backed and related securities 129,347,074 (1,614,041 ) 8,839,471 (280,650 ) 138,186,545 (1,894,691 ) Municipal securities 25,578,044 (234,044 ) 336,441 (18,497 ) 25,914,485 (252,541 ) Other securities 926,800 (22,550 ) - - 926,800 (22,550 ) $ 183,645,208 $ (2,055,337 ) $ 13,951,147 $ (303,792 ) $ 197,596,355 $ (2,359,129 ) December 31, 2016: Securities HTM: Municipal securities $ 122,271,533 $ (4,076,647 ) $ 13,010,803 $ (618,087 ) $ 135,282,336 $ (4,694,734 ) Securities AFS: U.S. govt. sponsored agency securities $ 21,788,139 $ (257,640 ) $ 5,499,012 $ (72,945 ) $ 27,287,151 $ (330,585 ) Residential mortgage-backed and related securities 121,506,582 (2,641,664 ) 7,437,615 (296,424 ) 128,944,197 (2,938,088 ) Municipal securities 34,152,822 (618,462 ) 338,099 (19,454 ) 34,490,921 (637,916 ) Other securities 3,177,414 (27,331 ) - - 3,177,414 (27,331 ) $ 180,624,957 $ (3,545,097 ) $ 13,274,726 $ (388,823 ) $ 193,899,683 $ (3,933,920 ) At June 30, 2017, 568 212 0.9% 212 30 twelve not not June 30, 2017 December 31, 2016, 1% The Company did not OTTI on any debt or equity securities for the three six June 30, 2017 2016. All sales of securities for the three six ended June 30, 2017 2016 Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Proceeds from sales of securities $ 13,554,075 $ 5,548,294 $ 13,554,075 $ 61,075,145 Pre-tax gross gains from sales of securities 59,568 18,030 59,568 533,545 Pre-tax gross losses from sales of securities (21,104 ) - (21,104 ) (157,035 ) The amortized cost and fai r value of securities as of June 30, 2017 may may not no Amortized Cost Fair Value Securities HTM: Due in one year or less $ 7,479,990 $ 7,478,528 Due after one year through five years 18,040,753 18,137,483 Due after five years 298,682,891 297,373,366 $ 324,203,634 $ 322,989,377 Securities AFS: Due in one year or less $ 3,498,188 $ 3,504,089 Due after one year through five years 31,550,278 31,700,139 Due after five years 64,870,032 64,840,746 $ 99,918,498 $ 100,044,974 Residential mortgage-backed and related securities 166,063,973 164,414,833 Other securities 4,065,468 4,821,906 $ 270,047,939 $ 269,281,713 Portions of the U.S. government sponsored agency securities and municipal securities contain call options, at the discretion of the issuer, to terminate the security at par and at predetermined dates prior to the stated maturity. These callable securities are summarized as follows: Amortized Cost Fair Value Securities HTM: Municipal securities $ 170,556,294 $ 170,715,228 Securities AFS: U.S. govt. sponsored agency securities 5,048,597 5,040,134 Municipal securities 41,135,349 41,095,251 $ 46,183,946 $ 46,135,385 As of June 30, 2017, 124 $107.9 126 $272.2 21 six $5.0 13 six $5.0 As of December 31, 201 6, 116 $116.5 120 $255.5 21 five $5.0 twelve six $5.0 The amortized cost and fair values of the Company ’s portfolio of general obligation bonds are summarized in the following tables by the issuer’s state: June 30, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer Iowa 26 $ 31,131,484 $ 31,242,925 $ 1,201,651 North Dakota 7 21,619,812 21,514,855 3,073,551 Illinois 19 14,872,773 15,051,806 792,200 Missouri 16 9,078,540 9,123,733 570,233 Ohio 10 8,716,542 8,588,019 858,802 Texas 8 5,347,075 5,336,188 667,024 Other 38 16,886,554 16,997,159 447,294 Total general obligation bonds 124 $ 107,652,780 $ 107,854,685 $ 869,796 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Iowa 27 $ 32,258,612 $ 32,231,936 $ 1,193,775 Illinois 19 29,214,559 29,308,438 1,542,549 North Dakota 7 22,169,050 21,499,075 3,071,296 Missouri 14 8,291,192 8,323,245 594,518 Ohio 8 6,790,398 6,651,897 831,487 Other 41 18,481,496 18,458,044 450,196 Total general obligation bonds 116 $ 117,205,307 $ 116,472,635 $ 1,004,074 The amortized cost and fair values of the Company ’s portfolio of revenue bonds are summarized in the following tables by the issuer’s state: June 30, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer Missouri 54 $ 107,360,504 $ 106,983,845 $ 1,981,182 Iowa 27 57,862,675 57,834,419 2,142,016 Indiana 21 50,114,290 49,578,767 2,360,894 Ohio 5 19,691,358 19,493,348 3,898,670 Kansas 6 13,178,963 13,179,104 2,196,517 North Dakota 5 11,729,782 11,676,766 2,335,353 Other 8 13,444,620 13,438,953 1,679,869 Total revenue bonds 126 $ 273,382,192 $ 272,185,202 $ 2,160,200 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Missouri 47 $ 90,784,441 $ 89,664,013 $ 1,907,745 Iowa 31 70,788,393 71,142,393 2,294,916 Indiana 22 47,994,737 47,582,138 2,162,824 Kansas 6 13,476,366 13,427,491 2,237,915 North Dakota 4 8,089,067 7,796,381 1,949,095 Ohio 3 13,650,000 13,405,222 4,468,407 Other 7 12,687,286 12,479,052 1,782,722 Total revenue bonds 120 $ 257,470,290 $ 255,496,690 $ 2,129,139 Both general obligation and revenue bonds are diversified across many issuers. As of June 30, 2017 December 31, 2016, not 5% 2, The Company ’s municipal securities are owned by each of the four June 30, 2017, As of June 30, 2017, not |
Note 3 - Loans Leases Receivabl
Note 3 - Loans Leases Receivable | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 3 – LOANS/LEASES RECEIVABLE The composition of the loan/lease portfolio as of June 30, 2017 December 31, 2016 As of June 30, As of December 31, 2017 2016 C&I loans $ 942,538,419 $ 827,637,263 CRE loans Owner-occupied CRE 317,225,055 332,387,621 Commercial construction, land development, and other land 179,316,027 165,149,491 Other non owner-occupied CRE 635,365,041 595,921,748 1,131,906,123 1,093,458,860 Direct financing leases * 153,336,548 165,419,360 Residential real estate loans ** 233,870,678 229,233,104 Installment and other consumer loans 84,047,403 81,665,695 2,545,699,171 2,397,414,282 Plus deferred loan/lease origination costs, net of fees 7,866,437 8,072,703 2,553,565,608 2,405,486,985 Less allowance (33,356,632 ) (30,757,448 ) $ 2,520,208,976 $ 2,374,729,537 * Direct financing leases: Net minimum lease payments to be received $ 170,143,561 $ 184,274,802 Estimated unguaranteed residual values of leased assets 1,085,154 1,085,154 Unearned lease/residual income (17,892,167 ) (19,940,596 ) 153,336,548 165,419,360 Plus deferred lease origination costs, net of fees 5,216,015 5,881,778 158,552,563 171,301,138 Less allowance (2,638,301 ) (3,111,898 ) $ 155,914,262 $ 168,189,240 * Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management’s expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no three six June 30, 2017 2016. **Includes residential real estate loans h eld for sale totaling $705,800 $1,135,500 June 30, 2017, December 31, 2016, Changes in accretable yield for acquired loans were as follows: Three months ended June 30, 2017 Six months ended June 30, 2017 PCI Performing PCI Performing Loans Loans Total Loans Loans Total Balance at the beginning of the period $ (127,616 ) $ (6,944,074 ) $ (7,071,690 ) $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) Accretion recognized 43,756 1,618,603 1,662,359 110,446 3,790,143 3,900,589 Balance at the end of the period $ (83,860 ) $ (5,325,471 ) $ (5,409,331 ) $ (83,860 ) $ (5,325,471 ) $ (5,409,331 ) The aging of the loan/lease portfolio by classe s of loans/leases as of June 30, 2017 December 31, 2016 As of June 30, 2017 Classes of Loans/Leases Current 30-59 Days Past Due 60-89 Days Past Due Accruing Past Due 90 Days or More Nonaccrual Loans/Leases Total C&I $ 937,716,988 $ 271,248 $ 430,367 $ 45,812 $ 4,074,004 $ 942,538,419 CRE Owner-Occupied CRE 316,555,536 514,499 - - 155,020 317,225,055 Commercial Construction, Land Development, and Other Land 174,851,763 117,247 - - 4,347,017 179,316,027 Other Non Owner-Occupied CRE 632,539,426 1,503,560 - - 1,322,055 635,365,041 Direct Financing Leases 151,027,116 155,553 106,185 - 2,047,694 153,336,548 Residential Real Estate 232,076,296 92,966 395,734 257,771 1,047,911 233,870,678 Installment and Other Consumer 83,377,699 253,751 71,882 120,363 223,708 84,047,403 $ 2,528,144,824 $ 2,908,824 $ 1,004,168 $ 423,946 $ 13,217,409 $ 2,545,699,171 As a percentage of total loan/lease portfolio 99.31 % 0.11 % 0.04 % 0.02 % 0.52 % 100.00 % As of December 31, 2016 Classes of Loans/Leases Current 30-59 Days Past Due 60-89 Days Past Due Accruing Past Due 90 Days or More Nonaccrual Loans/Leases Total C&I $ 821,637,507 $ 1,455,185 $ 10,551 $ 346,234 $ 4,187,786 $ 827,637,263 CRE Owner-Occupied CRE 331,812,571 - 242,902 - 332,148 332,387,621 Commercial Construction, Land Development, and Other Land 160,760,034 35,638 - - 4,353,819 165,149,491 Other Non Owner-Occupied CRE 594,384,926 100,673 - - 1,436,149 595,921,748 Direct Financing Leases 161,452,627 730,627 574,700 215,225 2,446,181 165,419,360 Residential Real Estate 227,023,552 473,478 365,581 294,854 1,075,639 229,233,104 Installment and Other Consumer 81,199,766 204,973 63,111 110,501 87,344 81,665,695 $ 2,378,270,983 $ 3,000,574 $ 1,256,845 $ 966,814 $ 13,919,066 $ 2,397,414,282 As a percentage of total loan/lease portfolio 99.20 % 0.13 % 0.05 % 0.04 % 0.58 % 100.00 % NPLs by classes of loans/leases as of June 30, 2017 December 31, 2016 As of June 30, 2017 Classes of Loans/Leases Accruing Past Due 90 Days or More Nonaccrual Loans/Leases * Accruing TDRs Total NPLs Percentage of Total NPLs C&I $ 45,812 $ 4,074,004 $ 4,858,983 $ 8,978,799 43.68 % CRE Owner-Occupied CRE - 155,020 - 155,020 0.75 % Commercial Construction, Land Development, and Other Land - 4,347,017 - 4,347,017 21.15 % Other Non Owner-Occupied CRE - 1,322,055 - 1,322,055 6.43 % Direct Financing Leases - 2,047,694 1,689,086 3,736,780 18.18 % Residential Real Estate 257,771 1,047,911 350,704 1,656,386 8.06 % Installment and Other Consumer 120,363 223,708 16,400 360,471 1.75 % $ 423,946 $ 13,217,409 $ 6,915,173 $ 20,556,528 100.00 % * Nonaccrual loans/leases included $2,167,863 $268,629 $1,148,818 $519,178 $179,881 $41,465 $9,892 As of December 31, 2016 Classes of Loans/Leases Accruing Past Due 90 Days or More Nonaccrual Loans/Leases ** Accruing TDRs Total NPLs Percentage of Total NPLs C&I $ 346,234 $ 4,187,786 $ 4,733,997 9,268,017 43.65 % CRE Owner-Occupied CRE - 332,148 - 332,148 1.56 % Commercial Construction, Land Development, and Other Land - 4,353,819 - 4,353,819 20.51 % Other Non Owner-Occupied CRE - 1,436,149 - 1,436,149 6.77 % Direct Financing Leases 215,225 2,446,181 1,008,244 3,669,650 17.28 % Residential Real Estate 294,854 1,075,639 585,541 1,956,034 9.21 % Installment and Other Consumer 110,501 87,344 18,746 216,591 1.02 % $ 966,814 $ 13,919,066 $ 6,346,528 $ 21,232,408 100.00 % ** Nonaccrual loans/leases included $2,300,479 $48,501 $1,380,047 $816,149 $43,579 $12,203 Changes in the allowance by portfolio segment for the three six June 30, 2017 2016, Three Months Ended June 30, 2017 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 12,954,090 $ 12,643,266 $ 2,978,260 $ 2,375,864 $ 1,107,670 $ 32,059,150 Provisions (credits) charged to expense 1,281,786 339,857 297,672 116,151 (12,473 ) 2,022,993 Loans/leases charged off (74,071 ) (10,375 ) (684,079 ) (61,561 ) (21,518 ) (851,604 ) Recoveries on loans/leases previously charged off 45,928 26,485 46,448 - 7,232 126,093 Balance, ending $ 14,207,733 $ 12,999,233 $ 2,638,301 $ 2,430,454 $ 1,080,911 $ 33,356,632 Three Months Ended June 30, 2016 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 10,991,979 $ 10,090,567 $ 3,287,231 $ 1,836,622 $ 1,189,043 $ 27,395,442 Provisions (credits) charged to expense (241,600 ) 919,596 460,997 194,988 (136,131 ) 1,197,850 Loans/leases charged off (48,983 ) (23,101 ) (534,716 ) (17,523 ) (9,892 ) (634,215 ) Recoveries on loans/leases previously charged off 23,110 - 12,682 900 101,721 138,413 Balance, ending $ 10,724,506 $ 10,987,062 $ 3,226,194 $ 2,014,987 $ 1,144,741 $ 28,097,490 Six Months Ended June 30, 2017 Commercial and Industrial Commercial Real Estate Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Provisions (credits) charged to expense 1,875,144 1,306,128 802,687 159,671 (15,528 ) 4,128,102 Loans/leases charged off (292,344 ) (10,375 ) (1,342,763 ) (75,184 ) (23,564 ) (1,744,230 ) Recoveries on loans/leases previously charged off 79,823 32,871 66,479 3,623 32,516 215,312 Balance, ending $ 14,207,733 $ 12,999,233 $ 2,638,301 $ 2,430,454 $ 1,080,911 $ 33,356,632 Six Months Ended June 30, 2016 Commercial and Industrial Commercial Real Estate Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 10,484,080 $ 9,375,117 $ 3,395,088 $ 1,790,150 $ 1,096,471 $ 26,140,906 Provisions (credits) charged to expense 498,231 1,635,046 939,242 257,644 (59,328 ) 3,270,835 Loans/leases charged off (292,549 ) (23,101 ) (1,135,654 ) (33,707 ) (17,488 ) (1,502,499 ) Recoveries on loans/leases previously charged off 34,744 - 27,518 900 125,086 188,248 Balance, ending $ 10,724,506 $ 10,987,062 $ 3,226,194 $ 2,014,987 $ 1,144,741 $ 28,097,490 The allowance by impairment evaluation and by portfolio segment as of June 30, 2017 December 31, 2016 As of June 30, 2017 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 1,580,113 $ 938,450 $ 550,575 $ 266,217 $ 20,365 $ 3,355,720 Allowance for nonimpaired loans/leases 12,627,620 12,060,783 2,087,726 2,164,237 1,060,546 30,000,912 $ 14,207,733 $ 12,999,233 $ 2,638,301 $ 2,430,454 $ 1,080,911 $ 33,356,632 Impaired loans/leases $ 8,985,913 $ 5,727,375 $ 3,553,173 $ 1,398,615 $ 240,107 $ 19,905,183 Nonimpaired loans/leases 933,552,506 1,126,178,748 149,783,375 232,472,063 83,807,296 2,525,793,988 $ 942,538,419 $ 1,131,906,123 $ 153,336,548 $ 233,870,678 $ 84,047,403 $ 2,545,699,171 Allowance as a percentage of impaired loans/leases 17.58 % 16.39 % 15.50 % 19.03 % 8.48 % 16.86 % Allowance as a percentage of nonimpaired loans/leases 1.35 % 1.07 % 1.39 % 0.93 % 1.27 % 1.19 % Total allowance as a percentage of total loans/leases 1.51 % 1.15 % 1.72 % 1.04 % 1.29 % 1.31 % As of December 31, 2016 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 1,771,537 $ 693,919 $ 848,919 $ 289,112 $ 39,481 $ 3,642,968 Allowance for nonimpaired loans/leases 10,773,573 10,976,690 2,262,979 2,053,232 1,048,006 27,114,480 $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Impaired loans/leases $ 8,936,451 $ 6,112,114 $ 3,256,264 $ 1,661,180 $ 106,090 $ 20,072,099 Nonimpaired loans/leases 818,700,812 1,087,346,746 162,163,096 227,571,924 81,559,605 2,377,342,183 $ 827,637,263 $ 1,093,458,860 $ 165,419,360 $ 229,233,104 $ 81,665,695 $ 2,397,414,282 Allowance as a percentage of impaired loans/leases 19.82 % 11.35 % 26.07 % 17.40 % 37.21 % 18.15 % Allowance as a percentage of nonimpaired loans/leases 1.32 % 1.01 % 1.40 % 0.90 % 1.28 % 1.14 % Total allowance as a percentage of total loans/leases 1.52 % 1.07 % 1.88 % 1.02 % 1.33 % 1.28 % Information for impaired loans/leases is presented in the tables below. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan/lease. The unpaid principal balance represents the recorded balance outstanding on the loan/lease prior to any partial charge-offs. Loans/leases, by classes of financing receivable, considered to be impaired as of and for the six June 30, 2017 Classes of Loans/Leases Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 993,551 $ 1,003,988 $ - $ 802,367 $ 16,751 $ 16,751 CRE Owner-Occupied CRE - - - - - - Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,148,818 1,148,818 - 1,171,229 - - Direct Financing Leases 2,739,319 2,739,319 - 2,557,608 57,844 57,844 Residential Real Estate 710,118 784,896 - 628,555 1,161 1,161 Installment and Other Consumer 189,018 189,019 - 144,838 218 218 $ 5,780,824 $ 5,866,040 $ - $ 5,304,597 $ 75,974 $ 75,974 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 7,992,362 $ 7,996,201 $ 1,580,113 $ 7,930,142 $ 97,721 $ 97,721 CRE Owner-Occupied CRE 155,020 155,020 111,520 266,439 - - Commercial Construction, Land Development, and Other Land 4,347,017 4,347,017 820,811 4,350,034 - - Other Non Owner-Occupied CRE 76,519 76,519 6,119 25,506 - - Direct Financing Leases 813,854 813,854 550,575 739,561 - - Residential Real Estate 688,497 688,497 266,217 604,450 7,229 7,229 Installment and Other Consumer 51,090 51,090 20,365 29,137 - - $ 14,124,359 $ 14,128,198 $ 3,355,720 $ 13,945,269 $ 104,950 $ 104,950 Total Impaired Loans/Leases: C&I $ 8,985,913 $ 9,000,189 $ 1,580,113 $ 8,732,509 $ 114,472 $ 114,472 CRE Owner-Occupied CRE 155,020 155,020 111,520 266,439 - - Commercial Construction, Land Development, and Other Land 4,347,017 4,347,017 820,811 4,350,033 - - Other Non Owner-Occupied CRE 1,225,337 1,225,337 6,119 1,196,735 - - Direct Financing Leases 3,553,173 3,553,173 550,575 3,297,169 57,844 57,844 Residential Real Estate 1,398,615 1,473,393 266,217 1,233,005 8,390 8,390 Installment and Other Consumer 240,108 240,109 20,365 173,975 218 218 $ 19,905,183 $ 19,994,2388 $ 3,355,720 $ 19,249,865 $ 180,924 $ 180,924 Impaired loans/leases for which no ’s current estimates. Loans/leases, by classes of financing receivable, considered to be impaired as of and for the three June 30, 2017 2016, Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 Classes of Loans/Leases Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 805,309 $ 9,399 $ 9,399 $ 2,524,056 $ 3,519 $ 3,519 CRE Owner-Occupied CRE - - - 121,444 - - Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,160,161 - - 1,311,540 - - Direct Financing Leases 2,560,019 38,949 38,949 1,510,987 19,897 19,897 Residential Real Estate 712,793 - - 621,354 1,013 1,013 Installment and Other Consumer 173,585 218 218 229,207 - - $ 5,411,867 $ 48,566 $ 48,566 $ 6,318,588 $ 24,429 $ 24,429 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 8,066,702 $ 35,055 $ 35,055 $ 2,292,483 $ - $ - CRE Owner-Occupied CRE 238,584 - - - - - Commercial Construction, Land Development, and Other Land 4,348,142 - - 190,174 - - Other Non Owner-Occupied CRE 38,260 - - 658,220 - - Direct Financing Leases 757,602 - - 995,446 - - Residential Real Estate 624,641 2,989 2,989 919,271 1,948 1,948 Installment and Other Consumer 34,333 - - 218,742 1,468 1,468 $ 14,108,264 $ 38,044 $ 38,044 $ 5,274,336 $ 3,416 $ 3,416 Total Impaired Loans/Leases: C&I $ 8,872,011 $ 44,454 $ 44,454 $ 4,816,539 $ 3,519 $ 3,519 CRE Owner-Occupied CRE 238,584 - - 121,444 - - Commercial Construction, Land Development, and Other Land 4,348,142 - - 190,174 - - Other Non Owner-Occupied CRE 1,198,421 - - 1,969,760 - - Direct Financing Leases 3,317,621 38,949 38,949 2,506,433 19,897 19,897 Residential Real Estate 1,337,434 2,989 2,989 1,540,625 2,961 2,961 Installment and Other Consumer 207,918 218 218 447,949 1,468 1,468 $ 19,520,131 $ 86,610 $ 86,610 $ 11,592,924 $ 27,845 $ 27,845 Impaired loans/leases for which no ’s current estimates. Loans/leases, by classes of financing receivable, considered to be impaired as of December 31, 2016 Classes of Loans/Leases Recorded Investment Unpaid Principal Balance Related Allowance Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 841,895 $ 951,600 $ - CRE Owner-Occupied CRE - 93,774 - Commercial Construction, Land Development, and Other Land - - - Other Non Owner-Occupied CRE 1,196,549 1,196,549 - Direct Financing Leases 1,690,121 1,690,121 - Residential Real Estate 853,294 892,495 - Installment and Other Consumer 55,734 55,734 - $ 4,637,593 $ 4,880,273 $ - Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 8,094,556 $ 8,098,395 $ 1,771,537 CRE Owner-Occupied CRE 322,148 322,148 57,398 Commercial Construction, Land Development, and Other Land 4,353,819 4,353,817 577,611 Other Non Owner-Occupied CRE 239,600 239,600 58,910 Direct Financing Leases 1,566,141 1,566,143 848,919 Residential Real Estate 807,886 882,018 289,112 Installment and Other Consumer 50,356 50,356 39,481 $ 15,434,506 $ 15,512,477 $ 3,642,968 Total Impaired Loans/Leases: C&I $ 8,936,451 $ 9,049,995 $ 1,771,537 CRE Owner-Occupied CRE 322,148 415,922 57,398 Commercial Construction, Land Development, and Other Land 4,353,819 4,353,817 577,611 Other Non Owner-Occupied CRE 1,436,149 1,436,149 58,910 Direct Financing Leases 3,256,262 3,256,264 848,919 Residential Real Estate 1,661,180 1,774,513 289,112 Installment and Other Consumer 106,090 106,090 39,481 $ 20,072,099 $ 20,392,750 $ 3,642,968 Impaired loans/leases for which no ’s current estimates. For C&I and CRE loans, the Company’s credit quality indicator consists of internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 15 For direct financing leases, residential real estate loans, and installment and other consumer loans, the Company ’s credit quality indicator is performance determined by delinquency status. Delinquency status is updated daily by the Company’s loan system. For each class of financing receivable, the following presents the recorded investment by credit quality indicator as of June 30, 2017 December 31, 2016: As of June 30, 2017 CRE Non Owner-Occupied Internally Assigned Risk Rating C&I Owner-Occupied CRE Commercial Construction, Land Development, and Other Land Other CRE Total As a % of Total Pass (Ratings 1 through 5) $ 904,511,211 $ 301,874,401 $ 172,442,816 $ 622,588,629 $ 2,001,417,057 96.48 % Special Mention (Rating 6) 10,814,298 10,448,915 1,780,000 4,693,909 27,737,122 1.34 % Substandard (Rating 7) 27,212,910 4,901,739 5,093,211 8,082,503 45,290,363 2.18 % Doubtful (Rating 8) - - - - - 0.00 % $ 942,538,419 $ 317,225,055 $ 179,316,027 $ 635,365,041 $ 2,074,444,542 100.00 % As of June 30, 2017 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 149,599,768 $ 232,214,292 $ 83,686,932 $ 465,500,992 98.78 % Nonperforming 3,736,780 1,656,386 360,471 5,753,637 1.22 % $ 153,336,548 $ 233,870,678 $ 84,047,403 $ 471,254,629 100.00 % As of December 31, 2016 CRE Non Owner-Occupied Internally Assigned Risk Rating C&I Owner-Occupied CRE Commercial Construction, Land Development, and Other Land Other CRE Total As a % of Total Pass (Ratings 1 through 5) $ 796,568,451 $ 314,447,662 $ 158,108,465 $ 582,854,048 $ 1,851,978,626 96.40 % Special Mention (Rating 6) 6,305,772 7,559,380 1,780,000 4,437,122 20,082,274 1.05 % Substandard (Rating 7) 24,763,040 10,380,369 5,261,026 8,630,578 49,035,013 2.55 % Doubtful (Rating 8) - 210 - - 210 0.00 % $ 827,637,263 $ 332,387,621 $ 165,149,491 $ 595,921,748 $ 1,921,096,123 100.00 % As of December 31, 2016 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 161,749,710 $ 227,277,070 $ 81,449,104 $ 470,475,884 98.77 % Nonperforming 3,669,650 1,956,034 216,591 5,842,275 1.23 % $ 165,419,360 $ 229,233,104 $ 81,665,695 $ 476,318,159 100.00 % *Performing = loans/leases accruing and less than 90 = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 As of June 30, 2017 December 31, 2016, $9,083,036 $8,647,007, For each class of financing receivable, the following presents the number and recorded investment of TDRs, by type of concession, that were restructured during the three six June 30, 2017 2016. For the three months ended June 30, 2017 For the three months ended June 30, 2016 Classes of Loans/Leases Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity C&I - - - - 1 $ 52,286 $ 52,286 $ - Direct Financing Leases 1 $ 98,119 $ 98,119 $ - - $ - $ - $ - 1 $ 98,119 $ 98,119 $ - 1 $ 52,286 $ 52,286 $ - CONCESSION - Significant Payment Delay C&I 1 $ 47,509 $ 47,509 $ - 1 $ 62,140 $ 62,140 $ - Direct Financing Leases 15 802,542 802,542 - 4 494,692 494,692 - 16 $ 850,051 $ 850,051 $ - 5 $ 556,832 $ 556,832 $ - CONCESSION - Significant Payment Delay C&I - $ - $ - $ - 1 $ 1,233,740 $ 1,233,740 $ - - $ - $ - $ - 1 $ 1,233,740 $ 1,233,740 $ - TOTAL 17 $ 948,170 $ 948,170 $ - 7 $ 1,842,858 $ 1,842,858 $ - For the six months ended June 30, 2017 For the six months ended June 30, 2016 Classes of Loans/Leases Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity C&I - $ - $ - $ - 1 $ 52,286 $ 52,286 $ - Direct Financing Leases 2 104,382 104,382 - 4 410,653 410,653 - 2 $ 104,382 $ 104,382 $ - 5 $ 462,939 $ 462,939 $ - CONCESSION - Significant Payment Delay C&I 3 $ 181,198 $ 181,198 $ - 1 $ 62,140 $ 62,140 $ - Direct Financing Leases 23 1,472,403 1,472,403 - 5 540,631 540,631 - 26 $ 1,653,601 $ 1,653,601 $ - 6 $ 602,771 $ 602,771 $ - CONCESSION - Interest Rate Adjusted Below Market CRE - Other - $ - $ - $ - 1 $ 1,233,740 $ 1,233,740 $ - - $ - $ - $ - 1 1,233,740 1,233,740 - TOTAL 28 $ 1,757,983 $ 1,757,983 $ - 12 $ 2,299,450 $ 2,299,450 $ - Of the TDRs reported above, none June 30, 2017. $1,233,740 June 30, 2016. For the three six June 30, 2017, two 12 90 two fourth 2016 $195 For the three and six June 30, 2016, none 12 |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4 - EARNINGS PER SHARE The following information was used in the computation of EPS on a basic and diluted basis: Three months ended Six months ended June 30, June 30, 2017 2016 2017 2016 Net income $ 8,766,017 $ 6,676,467 $ 17,950,982 $ 13,049,956 Basic EPS $ 0.67 $ 0.54 $ 1.36 $ 1.08 Diluted EPS $ 0.65 $ 0.53 $ 1.33 $ 1.07 Weighted average common shares outstanding 13,170,283 12,335,077 13,151,833 12,064,349 Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan 346,309 181,397 350,672 170,863 Weighted average common and common equivalent shares outstanding 13,516,592 12,516,474 13,502,505 12,235,212 The increase in weighted average common shares outstanding from June 30, 2016 June 30, 2017 2 10 December 31, 2016. |
Note 5 - Fair Value
Note 5 - Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5 Accounting guidance on fair value measurement uses a hierarchy intended to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy includes three three ● Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in markets; ● Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and ● Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Assets and liabilities measured at fair value on a recurring basis comprise the following at June 30, 2017 December 31, 2016: Fair Value Measurements at Reporting Date Using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) June 30, 2017: Securities AFS: U.S. govt. sponsored agency securities $ 41,944,464 $ - $ 41,944,464 $ - Residential mortgage-backed and related securities 164,414,833 - 164,414,833 - Municipal securities 58,100,510 - 58,100,510 - Other securities 4,821,906 1,050 4,820,856 - Interest rate caps 398,973 - 398,973 - Interest rate swaps - assets 2,547,466 - 2,547,466 - Total assets measured at fair value $ 272,228,152 $ 1,050 $ 272,227,102 $ - Interest rate swaps - liabilities $ 2,547,466 $ - $ 2,547,466 $ - Total liabilities measured at fair value $ 2,547,466 $ - $ 2,547,466 $ - December 31, 2016 : Securities AFS: U.S. govt. sponsored agency securities $ 46,083,607 $ - $ 46,083,607 $ - Residential mortgage-backed and related securities 147,702,127 - 147,702,127 - Municipal securities 52,604,426 - 52,604,426 - Other securities 4,722,979 1,361 4,721,618 - Interest rate caps 576,527 - 576,527 - Interest rate swaps - assets 2,338,281 - 2,338,281 - Total assets measured at fair value $ 254,027,947 $ 1,361 $ 254,026,586 $ - Interest rate swaps - liabilities $ 2,338,281 $ - $ 2,338,281 $ - Total liabilities measured at fair value $ 2,338,281 $ - $ 2,338,281 $ - There were no 1, 2, 3 three six June 30, 2017 2016. A small portion of the securities available for sale portfolio consists of common stock issued by various unrelated bank holding companies. The fair values used by the Company are obtained from an independent pricing service and represent quoted market prices for the identical securities (Level 1 The remainder of the securities available for sale portfolio consists of securities whereby the Company obtains fair values from an independent pricing service. The fair values are determined by pricing models that consider observable market data, such as interest rate volatilities, LIBOR yield curve, credit spreads and prices from market makers and live trading systems (Level 2 I nterest rate caps are used for the purpose of hedging interest rate risk. The fair values are determined by pricing models that consider observable market data for derivative instruments with similar structures (Level 2 Interest rate swaps are executed for select commercial customers. The interest rate swaps are further described in Note 1 ’s Annual Report on Form 10 December 31, 2016. 2 Certain financial assets are measured at fair value on a non-recurring basis; that is, the assets are not Assets measured at fair value on a non-recurring basis comprise the following at June 30, 2017 December 31, 2016: Fair Value Measurements at Reporting Date Using Fair Value Level 1 Level 2 Level 3 June 30, 2017: Impaired loans/leases $ 11,760,878 $ - $ - $ 11,760,878 OREO 5,587,403 - - 5,587,403 $ 17,348,281 $ - $ - $ 17,348,281 December 31, 2016: Impaired loans/leases $ 12,823,121 $ - $ - $ 12,823,121 OREO 5,964,952 - - 5,964,952 $ 18,788,073 $ - $ - $ 18,788,073 Impaired loans/leases are evaluated and valued at the time the loan/lease is id entified as impaired, at the lower of cost or fair value, and are classified as Level 3 may OREO in the table above consists of property acquired through foreclosures and settlements of loans. Property acquired is carried at the estimated fair value of the property, less disposal costs, and is classified as Level 3 The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 Quantitative Information about Level Fair Value Measurements Fair Value June 30, 2017 Fair Value December 31, 2016 Valuation Technique Unobservable Input Range Impaired loans/leases $ 11,760,878 $ 12,823,121 Appraisal of collateral Appraisal adjustments -10.00% to -50.00% OREO 5,587,403 5,964,952 Appraisal of collateral Appraisal adjustments 0.00% to -35.00% For the impaired loans/leases and OREO, the Company records carrying value at fair value less disposal or selling costs. The amounts reported in the tables above are fair values before the adjustment for disposal or selling costs. There have been no three six June 30, 2017 2016. The following table presents the carrying values and estimated fair values of financial assets and liabilities carried on the Company ’s consolidated balance sheets, including those financial assets and liabilities that are not Fair Value As of June 30, 2017 As of December 31, 2016 Hierarchy Carrying Estimated Carrying Estimated Level Value Fair Value Value Fair Value Cash and due from banks Level 1 $ 77,161,353 $ 77,161,353 $ 70,569,993 $ 70,569,993 Federal funds sold Level 2 19,183,000 19,183,000 22,257,000 22,257,000 Interest-bearing deposits at financial institutions Level 2 53,171,325 53,171,325 63,948,925 63,948,925 Investment securities: HTM Level 2 324,203,634 322,989,377 322,909,056 320,414,899 AFS See Previous Table 269,281,713 269,281,713 251,113,139 251,113,139 Loans/leases receivable, net Level 3 10,889,702 11,760,878 11,873,260 12,823,121 Loans/leases receivable, net Level 2 2,509,319,274 2,491,370,000 2,362,856,277 2,344,462,740 Interest rate caps Level 2 398,973 398,973 576,527 576,527 Interest rate swaps - assets Level 2 2,547,466 2,547,466 2,338,281 2,338,281 Deposits: Nonmaturity deposits Level 2 2,311,779,642 2,311,779,642 2,188,683,349 2,188,683,349 Time deposits Level 2 558,454,597 557,833,000 480,577,924 479,605,000 Short-term borrowings Level 2 18,217,393 18,217,393 39,971,387 39,971,387 FHLB advances Level 2 106,500,000 107,071,000 137,500,000 138,338,000 Other borrowings Level 2 72,000,000 73,041,000 80,000,000 81,282,000 Junior subordinated debentures Level 2 33,546,425 25,169,023 33,480,202 24,881,494 Interest rate swaps - liabilities Level 2 2,547,466 2,547,466 2,338,281 2,338,281 |
Note 6 - Business Segment Infor
Note 6 - Business Segment Information | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 6 Selected financial and descriptive information is required to be disclosed for reportable operating segments, applying a “management perspective” as the basis for identifying reportable segments. The management perspective is determined by the view that management takes of the segments within the Company when making operating decisions, allocating resources, and measuring performance. The segments of the Company have been defined by the structure of the Company’s internal organization, focusing on the financial information that the Company’s operating decision-makers routinely use to make decisions about operating matters. The Company ’s primary segment, Commercial Banking, is geographically divided by markets into the secondary segments comprised of the four The Company ’s Wealth Management segment represents the trust and asset management and investment management and advisory services offered at the Company’s four No The Company ’s All Other segment includes the operations of all other consolidated subsidiaries and/or defined operating segments that fall below the segment reporting thresholds. This segment includes the corporate operations of the parent company. Selected financial information on the Company ’s business segments is presented as follows as of and for the three six June 30, 2017 2016. Commercial Banking Wealth Intercompany Consolidated QCBT CRBT CSB RB&T Management All Other Eliminations Total Three Months Ended June 30, 2017 Total revenue $ 14,210,040 $ 10,149,769 $ 8,171,307 $ 4,241,431 $ 2,560,836 $ 10,181,814 $ (10,279,411 ) $ 39,235,786 Net interest income $ 11,414,818 $ 7,230,425 $ 6,920,820 $ 3,095,512 $ - $ (614,878 ) $ - $ 28,046,697 Provision for loan/lease losses $ 552,993 $ 300,000 $ 861,000 $ 309,000 $ - $ - $ - $ 2,022,993 Net income $ 4,073,777 $ 2,870,582 $ 1,920,040 $ 834,842 $ 454,465 $ 8,766,014 $ (10,153,703 ) $ 8,766,017 Goodwill $ 3,222,688 $ - $ 9,888,225 $ - $ - $ - $ - $ 13,110,913 Core deposit intangible $ - $ 1,172,141 $ 5,747,339 $ - $ - $ - $ - $ 6,919,480 Total assets $ 1,400,307,827 $ 993,768,912 $ 642,761,140 $ 426,159,677 $ - $ 382,407,292 $ (388,218,153 ) $ 3,457,186,695 Three Months Ended June 30, 2016 Total revenue $ 14,162,914 $ 10,438,092 $ - $ 3,918,629 $ 2,204,821 $ 8,244,495 $ (8,293,266 ) $ 30,675,685 Net interest income $ 11,207,759 $ 7,135,725 $ - $ 2,945,417 $ - $ (280,088 ) $ - $ 21,008,813 Provision for loan/lease losses $ 747,850 $ 150,000 $ - $ 300,000 $ - $ - $ - $ 1,197,850 Net income $ 3,898,343 $ 3,144,986 $ - $ 772,169 $ 386,202 $ 6,676,467 $ (8,201,700 ) $ 6,676,467 Goodwill $ 3,222,688 $ - $ - $ - $ - $ - $ - $ 3,222,688 Core deposit intangible $ - $ 1,371,653 $ - $ - $ - $ - $ - $ 1,371,653 Total assets $ 1,390,025,232 $ 904,367,275 $ - $ 402,157,473 $ - $ 328,099,700 $ (341,215,392 ) $ 2,683,434,288 Six Months Ended June 30, 2017 Total revenue $ 27,745,981 $ 20,536,314 $ 16,303,013 $ 8,189,230 $ 5,262,642 $ 20,057,957 $ (20,230,498 ) $ 77,864,639 Net interest income $ 22,716,300 $ 14,204,472 $ 13,947,328 $ 6,063,586 $ - $ (1,216,106 ) $ - $ 55,715,580 Provision for loan/lease losses $ 1,484,102 $ 550,000 $ 1,635,000 $ 459,000 $ - $ - $ - $ 4,128,102 Net income $ 7,728,783 $ 5,763,142 $ 3,815,174 $ 1,679,411 $ 1,015,527 $ 17,950,982 $ (20,002,037 ) $ 17,950,982 Goodwill $ 3,222,688 $ - $ 9,888,225 $ - $ - $ - $ - $ 13,110,913 Core deposit intangible $ - $ 1,172,141 $ 5,747,339 $ - $ - $ - $ - $ 6,919,480 Total assets $ 1,400,307,827 $ 993,768,912 $ 642,761,140 $ 426,159,677 $ - $ 382,407,292 $ (388,218,153 ) $ 3,457,186,695 Six Months Ended June 30, 2016 Total revenue $ 27,679,846 $ 21,277,313 $ - $ 7,712,876 $ 4,439,113 $ 15,104,270 $ (15,213,201 ) $ 61,000,217 Net interest income $ 22,169,206 $ 14,160,713 $ - $ 5,857,391 $ - $ (580,975 ) $ - $ 41,606,335 Provision for loan/lease losses $ 1,970,835 $ 700,000 $ - $ 600,000 $ - $ - $ - $ 3,270,835 Net income $ 6,730,039 $ 6,079,717 $ - $ 1,389,954 $ 833,972 $ 13,049,955 $ (15,033,681 ) $ 13,049,956 Goodwill $ 3,222,688 $ - $ - $ - $ - $ - $ - $ 3,222,688 Core deposit intangible $ - $ 1,371,653 $ - $ - $ - $ - $ - $ 1,371,653 Total assets $ 1,390,025,232 $ 904,367,275 $ - $ 402,157,473 $ - $ 328,099,700 $ (341,215,392 ) $ 2,683,434,288 |
Note 7 - Regulatory Capital Req
Note 7 - Regulatory Capital Requirements | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 7 The Company (on a consolidated basis) and the subsidiary banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company and subsidiary banks ’ financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the subsidiary banks must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company and the subsidiary banks to maintain minimum amounts and ratios (set forth in the following table) of total common equity Tier 1 1 1 June 30, 2017 December 31, 2016, Under the regulatory framework for prompt corrective action, to be categorized as “well capitalized,” an institution must maintain minimum total risk-based, Tier 1 1 1 ’ actual capital amounts and ratios as of June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016, For Capital To Be Well Adequacy Purposes Capitalized Under For Capital With Capital Prompt Corrective Actual Adequacy Purposes Conservation Buffer* Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of June 30, 2017: Company: Total risk-based capital $ 347,033 11.65 % $ 238,402 > 8.000 % $ 275,652 > 9.25 % $ 298,003 > 10.0 % Tier 1 risk-based capital 313,333 10.51 % 178,802 > 6.000 216,052 > 7.25 238,402 > 8.0 Tier 1 leverage 313,333 9.34 % 134,142 > 4.000 134,142 > 4.00 167,677 > 5.0 Common equity Tier 1 281,774 9.46 % 134,101 > 4.500 171,352 > 5.75 193,702 > 6.5 Quad City Bank & Trust: Total risk-based capital $ 149,008 12.59 % $ 94,717 > 8.000 % $ 109,516 > 9.25 % $ 118,396 > 10.0 % Tier 1 risk-based capital 135,628 11.46 % 71,038 > 6.000 85,837 > 7.25 94,717 > 8.0 Tier 1 leverage 135,628 9.56 % 56,719 > 4.000 56,719 > 4.00 70,898 > 5.0 Common equity Tier 1 135,628 11.46 % 53,278 > 4.500 68,078 > 5.75 76,957 > 6.5 Cedar Rapids Bank & Trust: Total risk-based capital $ 110,561 12.19 % $ 72,578 > 8.000 % $ 83,918 > 9.25 % $ 90,722 > 10.0 % Tier 1 risk-based capital 99,216 10.94 % 54,434 > 6.000 65,774 > 7.25 72,578 > 8.0 Tier 1 leverage 99,216 10.43 % 38,044 > 4.000 38,044 > 4.00 47,555 > 5.0 Common equity Tier 1 99,216 10.94 % 40,825 > 4.500 52,165 > 5.75 58,969 > 6.5 Community State Bank: Total risk-based capital $ 69,222 13.32 % $ 41,577 > 8.000 % $ 48,074 > 9.25 % $ 51,972 > 10.0 % Tier 1 risk-based capital 66,089 12.72 % 31,183 > 6.000 37,679 > 7.25 41,577 > 8.0 Tier 1 leverage 66,089 10.91 % 24,231 > 4.000 24,231 > 4.00 30,289 > 5.0 Common equity Tier 1 66,089 12.72 % 23,387 > 4.500 29,884 > 5.75 33,782 > 6.5 Rockford Bank & Trust Total risk-based capital $ 44,068 11.78 % $ 29,922 > 8.000 % $ 34,598 > 9.25 % $ 37,403 > 10.0 % Tier 1 risk-based capital 39,384 10.53 % 22,442 > 6.000 27,117 > 7.25 29,922 > 8.0 Tier 1 leverage 39,384 9.63 % 16,354 > 4.000 16,354 > 4.00 20,442 > 5.0 Common equity Tier 1 39,384 10.53 % 16,831 > 4.500 21,507 > 5.75 24,312 > 6.5 For Capital To Be Well Adequacy Purposes Capitalized Under For Capital With Capital Prompt Corrective Actual Adequacy Purposes Conservation Buffer* Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016: Company: Total risk-based capital $ 327,440 11.56 % $ 226,587 > 8.000 % $ 244,289 > 8.625 % $ 283,233 > 10.0 % Tier 1 risk-based capital 296,366 10.46 % 169,940 > 6.000 187,642 > 6.625 226,587 > 8.0 Tier 1 leverage 296,366 9.10 % 130,229 > 4.000 130,229 > 4.000 162,787 > 5.0 Common equity Tier 1 266,419 9.41 % 127,455 > 4.500 145,157 > 5.125 184,102 > 6.5 Quad City Bank & Trust: Total risk-based capital $ 142,990 12.27 % $ 93,212 > 8.000 % $ 100,494 > 8.625 % $ 116,515 > 10.0 % Tier 1 risk-based capital 129,524 11.12 % 69,909 > 6.000 77,191 > 6.625 93,212 > 8.0 Tier 1 leverage 129,524 9.18 % 56,445 > 4.000 56,445 > 4.000 70,556 > 5.0 Common equity Tier 1 129,524 11.12 % 52,432 > 4.500 59,714 > 5.125 75,735 > 6.5 Cedar Rapids Bank & Trust: Total risk-based capital $ 106,791 12.82 % $ 66,623 > 8.000 % $ 71,828 > 8.625 % $ 83,279 > 10.0 % Tier 1 risk-based capital 96,369 11.57 % 49,968 > 6.000 55,173 > 6.625 66,623 > 8.0 Tier 1 leverage 96,369 10.69 % 36,061 > 4.000 36,061 > 4.000 45,076 > 5.0 Common equity Tier 1 96,369 11.57 % 37,476 > 4.500 42,681 > 5.125 54,132 > 6.5 Community State Bank: Total risk-based capital $ 68,216 13.81 % $ 39,521 > 8.000 % $ 42,609 > 8.625 % $ 49,402 > 10.0 % Tier 1 risk-based capital 66,746 13.51 % 29,641 > 6.000 32,729 > 6.625 39,522 > 8.0 Tier 1 leverage 66,746 11.75 % 22,726 > 4.000 22,726 > 4.000 28,408 > 5.0 Common equity Tier 1 66,746 13.51 % 22,231 > 4.500 25,319 > 5.125 32,111 > 6.5 Rockford Bank & Trust: Total risk-based capital $ 42,007 12.26 % $ 27,410 > 8.000 % $ 29,551 > 8.625 % $ 34,262 > 10.0 % Tier 1 risk-based capital 37,716 11.01 % 20,558 > 6.000 22,699 > 6.625 27,410 > 8.0 Tier 1 leverage 37,716 9.57 % 15,772 > 4.000 15,772 > 4.000 19,716 > 5.0 Common equity Tier 1 37,716 11.01 % 15,418 > 4.500 17,559 > 5.125 22,270 > 6.5 *The minimums under Basel III increase by .625% 2019. The fully phased-in minimums are 10.5% 8.5% 1 7.0% 1 |
Note 8 - Acquisition of Guarant
Note 8 - Acquisition of Guaranty Bank and Trust Company | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 8 On June 8, 2017, is an Iowa-chartered bank that operates five June 30, 2017, $264 $212 The Company filed 4 July 27, 2017 881,631 The purchase and assumption agreement provides for the sale by Guaranty of substantially all of its assets, including all of the capital stock of Guaranty Bank, and the assumption by the Company of certain of Guaranty ’s assets and liabilities. The sale is anticipated to be completed late in the third fourth 2017. The total consideration to be paid to Guaranty by the Company at the closing of the sale pursuant to the purchase and assumption agreement, subject to adjustment, is equal to: ( 1 Guaranty’s adjusted tangible equity as of the end of the month immediately preceding the closing date up to an amount equal to $24,286,985 1.53; 2 1.53 $37.2 $7.8 $46.05 August 3, 2017, 638,400 $29.4 the sale consideration will be paid directly to Guaranty, and not No In June 2017, $7.0 four 3.00% 4.16% June 30, 2017). $7.0 may Any additional cash consideration paid to Guaranty beyond this $7.0 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of presentation : The interim unaudited consolidated financial statements contained herein should be read in conjunction with the audited consolidated financial statements and accompanying notes to the consolidated financial statements for the fiscal year ended December 31, 2016, 10 March 10, 2017. The financial information of the Company included herein has been prepared in accordance with U.S. GAAP for interim financial reporting and has been prepared pursuant to the rules and regulations for reporting on Form 10 10 01 X. June 30, 2017, not December 31, 2017, The acronyms and abbreviations identified below are used throughout this Quarterly Report on Form 10 may Allowance: Allowance for estimated losses on loans/leases Guaranty Bank: Guaranty Bank and Trust Company AOCI: Accumulated other comprehensive income (loss) HTM: Held to maturity AFS: Available for sale m2: m2 ASC: Acocunting Standards Codification NIM: Net interest margin ASU: Accounting Standards Update NPA: Nonperforming asset BOLI: Bank-owned life insurance NPL: Nonperforming loan Caps: Interest rate cap derivatives OREO: Other real estate owned Community National: Community National Bancorporation OTTI: Other-than-temporary impairment CRBT: Cedar Rapids Bank & Trust Company PCI: Purchased credit impaired CRE: Commercial real estate Provision: Provision for loan/lease losses CSB: Community State Bank QCBT: Quad City Bank & Trust Company C&I: Commercial and industrial RB&T: Rockford Bank & Trust Company Dodd-Frank Act: Dodd-Frank Wall Street Reform and ROAA: Return on Average Assets Consumer Protection Act SBA: U.S. Small Business Administration EPS: Earnings per share SEC: Securities and Exchange Commission Exchange Act: Securities Exchange Act of 1934, TA: Tangible assets FASB: Financial Accounting Standards Board TCE: Tangible common equity FDIC: Federal Deposit Insurance Corporation TDRs: Troubled debt restructurings FHLB: Federal Home Loan Bank TEY: Tax equivalent yield FRB: Federal Reserve Bank of Chicago The Company: QCR Holdings, Inc. GAAP: Generally Accepted Accounting Principles USDA: U.S. Department of Agriculture Guaranty: Guaranty Bankshares, Ltd. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries which include four m2, T he acquisition of CSB occurred on August 31, 2016; June 30, 2017 December 31, 2016 six June 30, 2017, not June 30, 2016. On June 8, 2017, third fourth 2017, not 8 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting developments : In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 2014 09 2014 09 January 1, 2017, 2015 14 2014 09 January 1, 2018 not In January 2016, 2016 01, Financial Instruments – Overall 2016 01 2016 01 December 15, 2017, not In February 2016, 2016 02, Leases 2016 02, 2016 02. 2016 02 December 15, 2018, In June 2016, FASB issued ASU 2016 13, Financial Instruments – Credit Losses 2016 13 December 15, 2019, may December 15, 2018, Effective January 1, 2017, 2016 09, Compensation – Stock Compensation $90 second 2017 $623 first six 2017. |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (Losses) Value June 30, 2017: Securities HTM: Municipal securities $ 323,153,634 $ 2,027,969 $ (3,242,226 ) $ 321,939,377 Other securities 1,050,000 - - 1,050,000 $ 324,203,634 $ 2,027,969 $ (3,242,226 ) $ 322,989,377 Securities AFS: U.S. govt. sponsored agency securities $ 42,037,160 $ 96,651 $ (189,347 ) $ 41,944,464 Residential mortgage-backed and related securities 166,063,973 245,551 (1,894,691 ) 164,414,833 Municipal securities 57,881,338 471,713 (252,541 ) 58,100,510 Other securities 4,065,468 778,988 (22,550 ) 4,821,906 $ 270,047,939 $ 1,592,903 $ (2,359,129 ) $ 269,281,713 December 31, 2016: Securities HTM: Municipal securities $ 321,859,056 $ 2,200,577 $ (4,694,734 ) $ 319,364,899 Other securities 1,050,000 - - 1,050,000 $ 322,909,056 $ 2,200,577 $ (4,694,734 ) $ 320,414,899 Securities AFS: U.S. govt. sponsored agency securities $ 46,281,306 $ 132,886 $ (330,585 ) $ 46,083,607 Residential mortgage-backed and related securities 150,465,222 174,993 (2,938,088 ) 147,702,127 Municipal securities 52,816,541 425,801 (637,916 ) 52,604,426 Other securities 4,046,332 703,978 (27,331 ) 4,722,979 $ 253,609,401 $ 1,437,658 $ (3,933,920 ) $ 251,113,139 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses June 30, 2017: Securities HTM: Municipal securities $ 64,001,034 $ (1,792,524 ) $ 30,641,106 $ (1,449,702 ) $ 94,642,140 $ (3,242,226 ) Securities AFS: U.S. govt. sponsored agency securities $ 27,793,290 $ (184,702 ) $ 4,775,235 $ (4,645 ) $ 32,568,525 $ (189,347 ) Residential mortgage-backed and related securities 129,347,074 (1,614,041 ) 8,839,471 (280,650 ) 138,186,545 (1,894,691 ) Municipal securities 25,578,044 (234,044 ) 336,441 (18,497 ) 25,914,485 (252,541 ) Other securities 926,800 (22,550 ) - - 926,800 (22,550 ) $ 183,645,208 $ (2,055,337 ) $ 13,951,147 $ (303,792 ) $ 197,596,355 $ (2,359,129 ) December 31, 2016: Securities HTM: Municipal securities $ 122,271,533 $ (4,076,647 ) $ 13,010,803 $ (618,087 ) $ 135,282,336 $ (4,694,734 ) Securities AFS: U.S. govt. sponsored agency securities $ 21,788,139 $ (257,640 ) $ 5,499,012 $ (72,945 ) $ 27,287,151 $ (330,585 ) Residential mortgage-backed and related securities 121,506,582 (2,641,664 ) 7,437,615 (296,424 ) 128,944,197 (2,938,088 ) Municipal securities 34,152,822 (618,462 ) 338,099 (19,454 ) 34,490,921 (637,916 ) Other securities 3,177,414 (27,331 ) - - 3,177,414 (27,331 ) $ 180,624,957 $ (3,545,097 ) $ 13,274,726 $ (388,823 ) $ 193,899,683 $ (3,933,920 ) |
Realized Gain (Loss) on Investments [Table Text Block] | Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Proceeds from sales of securities $ 13,554,075 $ 5,548,294 $ 13,554,075 $ 61,075,145 Pre-tax gross gains from sales of securities 59,568 18,030 59,568 533,545 Pre-tax gross losses from sales of securities (21,104 ) - (21,104 ) (157,035 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Cost Fair Value Securities HTM: Due in one year or less $ 7,479,990 $ 7,478,528 Due after one year through five years 18,040,753 18,137,483 Due after five years 298,682,891 297,373,366 $ 324,203,634 $ 322,989,377 Securities AFS: Due in one year or less $ 3,498,188 $ 3,504,089 Due after one year through five years 31,550,278 31,700,139 Due after five years 64,870,032 64,840,746 $ 99,918,498 $ 100,044,974 Residential mortgage-backed and related securities 166,063,973 164,414,833 Other securities 4,065,468 4,821,906 $ 270,047,939 $ 269,281,713 Amortized Cost Fair Value Securities HTM: Municipal securities $ 170,556,294 $ 170,715,228 Securities AFS: U.S. govt. sponsored agency securities 5,048,597 5,040,134 Municipal securities 41,135,349 41,095,251 $ 46,183,946 $ 46,135,385 |
Schedule of Investment in Bond Securities [Table Text Block] | June 30, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer Iowa 26 $ 31,131,484 $ 31,242,925 $ 1,201,651 North Dakota 7 21,619,812 21,514,855 3,073,551 Illinois 19 14,872,773 15,051,806 792,200 Missouri 16 9,078,540 9,123,733 570,233 Ohio 10 8,716,542 8,588,019 858,802 Texas 8 5,347,075 5,336,188 667,024 Other 38 16,886,554 16,997,159 447,294 Total general obligation bonds 124 $ 107,652,780 $ 107,854,685 $ 869,796 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Iowa 27 $ 32,258,612 $ 32,231,936 $ 1,193,775 Illinois 19 29,214,559 29,308,438 1,542,549 North Dakota 7 22,169,050 21,499,075 3,071,296 Missouri 14 8,291,192 8,323,245 594,518 Ohio 8 6,790,398 6,651,897 831,487 Other 41 18,481,496 18,458,044 450,196 Total general obligation bonds 116 $ 117,205,307 $ 116,472,635 $ 1,004,074 June 30, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer Missouri 54 $ 107,360,504 $ 106,983,845 $ 1,981,182 Iowa 27 57,862,675 57,834,419 2,142,016 Indiana 21 50,114,290 49,578,767 2,360,894 Ohio 5 19,691,358 19,493,348 3,898,670 Kansas 6 13,178,963 13,179,104 2,196,517 North Dakota 5 11,729,782 11,676,766 2,335,353 Other 8 13,444,620 13,438,953 1,679,869 Total revenue bonds 126 $ 273,382,192 $ 272,185,202 $ 2,160,200 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Missouri 47 $ 90,784,441 $ 89,664,013 $ 1,907,745 Iowa 31 70,788,393 71,142,393 2,294,916 Indiana 22 47,994,737 47,582,138 2,162,824 Kansas 6 13,476,366 13,427,491 2,237,915 North Dakota 4 8,089,067 7,796,381 1,949,095 Ohio 3 13,650,000 13,405,222 4,468,407 Other 7 12,687,286 12,479,052 1,782,722 Total revenue bonds 120 $ 257,470,290 $ 255,496,690 $ 2,129,139 |
Note 3 - Loans Leases Receiva20
Note 3 - Loans Leases Receivable (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | As of June 30, As of December 31, 2017 2016 C&I loans $ 942,538,419 $ 827,637,263 CRE loans Owner-occupied CRE 317,225,055 332,387,621 Commercial construction, land development, and other land 179,316,027 165,149,491 Other non owner-occupied CRE 635,365,041 595,921,748 1,131,906,123 1,093,458,860 Direct financing leases * 153,336,548 165,419,360 Residential real estate loans ** 233,870,678 229,233,104 Installment and other consumer loans 84,047,403 81,665,695 2,545,699,171 2,397,414,282 Plus deferred loan/lease origination costs, net of fees 7,866,437 8,072,703 2,553,565,608 2,405,486,985 Less allowance (33,356,632 ) (30,757,448 ) $ 2,520,208,976 $ 2,374,729,537 * Direct financing leases: Net minimum lease payments to be received $ 170,143,561 $ 184,274,802 Estimated unguaranteed residual values of leased assets 1,085,154 1,085,154 Unearned lease/residual income (17,892,167 ) (19,940,596 ) 153,336,548 165,419,360 Plus deferred lease origination costs, net of fees 5,216,015 5,881,778 158,552,563 171,301,138 Less allowance (2,638,301 ) (3,111,898 ) $ 155,914,262 $ 168,189,240 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Table Text Block] | Three months ended June 30, 2017 Six months ended June 30, 2017 PCI Performing PCI Performing Loans Loans Total Loans Loans Total Balance at the beginning of the period $ (127,616 ) $ (6,944,074 ) $ (7,071,690 ) $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) Accretion recognized 43,756 1,618,603 1,662,359 110,446 3,790,143 3,900,589 Balance at the end of the period $ (83,860 ) $ (5,325,471 ) $ (5,409,331 ) $ (83,860 ) $ (5,325,471 ) $ (5,409,331 ) |
Past Due Financing Receivables [Table Text Block] | As of June 30, 2017 Classes of Loans/Leases Current 30-59 Days Past Due 60-89 Days Past Due Accruing Past Due 90 Days or More Nonaccrual Loans/Leases Total C&I $ 937,716,988 $ 271,248 $ 430,367 $ 45,812 $ 4,074,004 $ 942,538,419 CRE Owner-Occupied CRE 316,555,536 514,499 - - 155,020 317,225,055 Commercial Construction, Land Development, and Other Land 174,851,763 117,247 - - 4,347,017 179,316,027 Other Non Owner-Occupied CRE 632,539,426 1,503,560 - - 1,322,055 635,365,041 Direct Financing Leases 151,027,116 155,553 106,185 - 2,047,694 153,336,548 Residential Real Estate 232,076,296 92,966 395,734 257,771 1,047,911 233,870,678 Installment and Other Consumer 83,377,699 253,751 71,882 120,363 223,708 84,047,403 $ 2,528,144,824 $ 2,908,824 $ 1,004,168 $ 423,946 $ 13,217,409 $ 2,545,699,171 As a percentage of total loan/lease portfolio 99.31 % 0.11 % 0.04 % 0.02 % 0.52 % 100.00 % As of December 31, 2016 Classes of Loans/Leases Current 30-59 Days Past Due 60-89 Days Past Due Accruing Past Due 90 Days or More Nonaccrual Loans/Leases Total C&I $ 821,637,507 $ 1,455,185 $ 10,551 $ 346,234 $ 4,187,786 $ 827,637,263 CRE Owner-Occupied CRE 331,812,571 - 242,902 - 332,148 332,387,621 Commercial Construction, Land Development, and Other Land 160,760,034 35,638 - - 4,353,819 165,149,491 Other Non Owner-Occupied CRE 594,384,926 100,673 - - 1,436,149 595,921,748 Direct Financing Leases 161,452,627 730,627 574,700 215,225 2,446,181 165,419,360 Residential Real Estate 227,023,552 473,478 365,581 294,854 1,075,639 229,233,104 Installment and Other Consumer 81,199,766 204,973 63,111 110,501 87,344 81,665,695 $ 2,378,270,983 $ 3,000,574 $ 1,256,845 $ 966,814 $ 13,919,066 $ 2,397,414,282 As a percentage of total loan/lease portfolio 99.20 % 0.13 % 0.05 % 0.04 % 0.58 % 100.00 % |
Schedule of Nonperforming Loans Leases [Table Text Block] | As of June 30, 2017 Classes of Loans/Leases Accruing Past Due 90 Days or More Nonaccrual Loans/Leases * Accruing TDRs Total NPLs Percentage of Total NPLs C&I $ 45,812 $ 4,074,004 $ 4,858,983 $ 8,978,799 43.68 % CRE Owner-Occupied CRE - 155,020 - 155,020 0.75 % Commercial Construction, Land Development, and Other Land - 4,347,017 - 4,347,017 21.15 % Other Non Owner-Occupied CRE - 1,322,055 - 1,322,055 6.43 % Direct Financing Leases - 2,047,694 1,689,086 3,736,780 18.18 % Residential Real Estate 257,771 1,047,911 350,704 1,656,386 8.06 % Installment and Other Consumer 120,363 223,708 16,400 360,471 1.75 % $ 423,946 $ 13,217,409 $ 6,915,173 $ 20,556,528 100.00 % As of December 31, 2016 Classes of Loans/Leases Accruing Past Due 90 Days or More Nonaccrual Loans/Leases ** Accruing TDRs Total NPLs Percentage of Total NPLs C&I $ 346,234 $ 4,187,786 $ 4,733,997 9,268,017 43.65 % CRE Owner-Occupied CRE - 332,148 - 332,148 1.56 % Commercial Construction, Land Development, and Other Land - 4,353,819 - 4,353,819 20.51 % Other Non Owner-Occupied CRE - 1,436,149 - 1,436,149 6.77 % Direct Financing Leases 215,225 2,446,181 1,008,244 3,669,650 17.28 % Residential Real Estate 294,854 1,075,639 585,541 1,956,034 9.21 % Installment and Other Consumer 110,501 87,344 18,746 216,591 1.02 % $ 966,814 $ 13,919,066 $ 6,346,528 $ 21,232,408 100.00 % |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three Months Ended June 30, 2017 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 12,954,090 $ 12,643,266 $ 2,978,260 $ 2,375,864 $ 1,107,670 $ 32,059,150 Provisions (credits) charged to expense 1,281,786 339,857 297,672 116,151 (12,473 ) 2,022,993 Loans/leases charged off (74,071 ) (10,375 ) (684,079 ) (61,561 ) (21,518 ) (851,604 ) Recoveries on loans/leases previously charged off 45,928 26,485 46,448 - 7,232 126,093 Balance, ending $ 14,207,733 $ 12,999,233 $ 2,638,301 $ 2,430,454 $ 1,080,911 $ 33,356,632 Three Months Ended June 30, 2016 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 10,991,979 $ 10,090,567 $ 3,287,231 $ 1,836,622 $ 1,189,043 $ 27,395,442 Provisions (credits) charged to expense (241,600 ) 919,596 460,997 194,988 (136,131 ) 1,197,850 Loans/leases charged off (48,983 ) (23,101 ) (534,716 ) (17,523 ) (9,892 ) (634,215 ) Recoveries on loans/leases previously charged off 23,110 - 12,682 900 101,721 138,413 Balance, ending $ 10,724,506 $ 10,987,062 $ 3,226,194 $ 2,014,987 $ 1,144,741 $ 28,097,490 Six Months Ended June 30, 2017 Commercial and Industrial Commercial Real Estate Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Provisions (credits) charged to expense 1,875,144 1,306,128 802,687 159,671 (15,528 ) 4,128,102 Loans/leases charged off (292,344 ) (10,375 ) (1,342,763 ) (75,184 ) (23,564 ) (1,744,230 ) Recoveries on loans/leases previously charged off 79,823 32,871 66,479 3,623 32,516 215,312 Balance, ending $ 14,207,733 $ 12,999,233 $ 2,638,301 $ 2,430,454 $ 1,080,911 $ 33,356,632 Six Months Ended June 30, 2016 Commercial and Industrial Commercial Real Estate Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 10,484,080 $ 9,375,117 $ 3,395,088 $ 1,790,150 $ 1,096,471 $ 26,140,906 Provisions (credits) charged to expense 498,231 1,635,046 939,242 257,644 (59,328 ) 3,270,835 Loans/leases charged off (292,549 ) (23,101 ) (1,135,654 ) (33,707 ) (17,488 ) (1,502,499 ) Recoveries on loans/leases previously charged off 34,744 - 27,518 900 125,086 188,248 Balance, ending $ 10,724,506 $ 10,987,062 $ 3,226,194 $ 2,014,987 $ 1,144,741 $ 28,097,490 As of June 30, 2017 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 1,580,113 $ 938,450 $ 550,575 $ 266,217 $ 20,365 $ 3,355,720 Allowance for nonimpaired loans/leases 12,627,620 12,060,783 2,087,726 2,164,237 1,060,546 30,000,912 $ 14,207,733 $ 12,999,233 $ 2,638,301 $ 2,430,454 $ 1,080,911 $ 33,356,632 Impaired loans/leases $ 8,985,913 $ 5,727,375 $ 3,553,173 $ 1,398,615 $ 240,107 $ 19,905,183 Nonimpaired loans/leases 933,552,506 1,126,178,748 149,783,375 232,472,063 83,807,296 2,525,793,988 $ 942,538,419 $ 1,131,906,123 $ 153,336,548 $ 233,870,678 $ 84,047,403 $ 2,545,699,171 Allowance as a percentage of impaired loans/leases 17.58 % 16.39 % 15.50 % 19.03 % 8.48 % 16.86 % Allowance as a percentage of nonimpaired loans/leases 1.35 % 1.07 % 1.39 % 0.93 % 1.27 % 1.19 % Total allowance as a percentage of total loans/leases 1.51 % 1.15 % 1.72 % 1.04 % 1.29 % 1.31 % As of December 31, 2016 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 1,771,537 $ 693,919 $ 848,919 $ 289,112 $ 39,481 $ 3,642,968 Allowance for nonimpaired loans/leases 10,773,573 10,976,690 2,262,979 2,053,232 1,048,006 27,114,480 $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Impaired loans/leases $ 8,936,451 $ 6,112,114 $ 3,256,264 $ 1,661,180 $ 106,090 $ 20,072,099 Nonimpaired loans/leases 818,700,812 1,087,346,746 162,163,096 227,571,924 81,559,605 2,377,342,183 $ 827,637,263 $ 1,093,458,860 $ 165,419,360 $ 229,233,104 $ 81,665,695 $ 2,397,414,282 Allowance as a percentage of impaired loans/leases 19.82 % 11.35 % 26.07 % 17.40 % 37.21 % 18.15 % Allowance as a percentage of nonimpaired loans/leases 1.32 % 1.01 % 1.40 % 0.90 % 1.28 % 1.14 % Total allowance as a percentage of total loans/leases 1.52 % 1.07 % 1.88 % 1.02 % 1.33 % 1.28 % |
Impaired Financing Receivables [Table Text Block] | Classes of Loans/Leases Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 993,551 $ 1,003,988 $ - $ 802,367 $ 16,751 $ 16,751 CRE Owner-Occupied CRE - - - - - - Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,148,818 1,148,818 - 1,171,229 - - Direct Financing Leases 2,739,319 2,739,319 - 2,557,608 57,844 57,844 Residential Real Estate 710,118 784,896 - 628,555 1,161 1,161 Installment and Other Consumer 189,018 189,019 - 144,838 218 218 $ 5,780,824 $ 5,866,040 $ - $ 5,304,597 $ 75,974 $ 75,974 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 7,992,362 $ 7,996,201 $ 1,580,113 $ 7,930,142 $ 97,721 $ 97,721 CRE Owner-Occupied CRE 155,020 155,020 111,520 266,439 - - Commercial Construction, Land Development, and Other Land 4,347,017 4,347,017 820,811 4,350,034 - - Other Non Owner-Occupied CRE 76,519 76,519 6,119 25,506 - - Direct Financing Leases 813,854 813,854 550,575 739,561 - - Residential Real Estate 688,497 688,497 266,217 604,450 7,229 7,229 Installment and Other Consumer 51,090 51,090 20,365 29,137 - - $ 14,124,359 $ 14,128,198 $ 3,355,720 $ 13,945,269 $ 104,950 $ 104,950 Total Impaired Loans/Leases: C&I $ 8,985,913 $ 9,000,189 $ 1,580,113 $ 8,732,509 $ 114,472 $ 114,472 CRE Owner-Occupied CRE 155,020 155,020 111,520 266,439 - - Commercial Construction, Land Development, and Other Land 4,347,017 4,347,017 820,811 4,350,033 - - Other Non Owner-Occupied CRE 1,225,337 1,225,337 6,119 1,196,735 - - Direct Financing Leases 3,553,173 3,553,173 550,575 3,297,169 57,844 57,844 Residential Real Estate 1,398,615 1,473,393 266,217 1,233,005 8,390 8,390 Installment and Other Consumer 240,108 240,109 20,365 173,975 218 218 $ 19,905,183 $ 19,994,2388 $ 3,355,720 $ 19,249,865 $ 180,924 $ 180,924 Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 Classes of Loans/Leases Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 805,309 $ 9,399 $ 9,399 $ 2,524,056 $ 3,519 $ 3,519 CRE Owner-Occupied CRE - - - 121,444 - - Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,160,161 - - 1,311,540 - - Direct Financing Leases 2,560,019 38,949 38,949 1,510,987 19,897 19,897 Residential Real Estate 712,793 - - 621,354 1,013 1,013 Installment and Other Consumer 173,585 218 218 229,207 - - $ 5,411,867 $ 48,566 $ 48,566 $ 6,318,588 $ 24,429 $ 24,429 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 8,066,702 $ 35,055 $ 35,055 $ 2,292,483 $ - $ - CRE Owner-Occupied CRE 238,584 - - - - - Commercial Construction, Land Development, and Other Land 4,348,142 - - 190,174 - - Other Non Owner-Occupied CRE 38,260 - - 658,220 - - Direct Financing Leases 757,602 - - 995,446 - - Residential Real Estate 624,641 2,989 2,989 919,271 1,948 1,948 Installment and Other Consumer 34,333 - - 218,742 1,468 1,468 $ 14,108,264 $ 38,044 $ 38,044 $ 5,274,336 $ 3,416 $ 3,416 Total Impaired Loans/Leases: C&I $ 8,872,011 $ 44,454 $ 44,454 $ 4,816,539 $ 3,519 $ 3,519 CRE Owner-Occupied CRE 238,584 - - 121,444 - - Commercial Construction, Land Development, and Other Land 4,348,142 - - 190,174 - - Other Non Owner-Occupied CRE 1,198,421 - - 1,969,760 - - Direct Financing Leases 3,317,621 38,949 38,949 2,506,433 19,897 19,897 Residential Real Estate 1,337,434 2,989 2,989 1,540,625 2,961 2,961 Installment and Other Consumer 207,918 218 218 447,949 1,468 1,468 $ 19,520,131 $ 86,610 $ 86,610 $ 11,592,924 $ 27,845 $ 27,845 Classes of Loans/Leases Recorded Investment Unpaid Principal Balance Related Allowance Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 841,895 $ 951,600 $ - CRE Owner-Occupied CRE - 93,774 - Commercial Construction, Land Development, and Other Land - - - Other Non Owner-Occupied CRE 1,196,549 1,196,549 - Direct Financing Leases 1,690,121 1,690,121 - Residential Real Estate 853,294 892,495 - Installment and Other Consumer 55,734 55,734 - $ 4,637,593 $ 4,880,273 $ - Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 8,094,556 $ 8,098,395 $ 1,771,537 CRE Owner-Occupied CRE 322,148 322,148 57,398 Commercial Construction, Land Development, and Other Land 4,353,819 4,353,817 577,611 Other Non Owner-Occupied CRE 239,600 239,600 58,910 Direct Financing Leases 1,566,141 1,566,143 848,919 Residential Real Estate 807,886 882,018 289,112 Installment and Other Consumer 50,356 50,356 39,481 $ 15,434,506 $ 15,512,477 $ 3,642,968 Total Impaired Loans/Leases: C&I $ 8,936,451 $ 9,049,995 $ 1,771,537 CRE Owner-Occupied CRE 322,148 415,922 57,398 Commercial Construction, Land Development, and Other Land 4,353,819 4,353,817 577,611 Other Non Owner-Occupied CRE 1,436,149 1,436,149 58,910 Direct Financing Leases 3,256,262 3,256,264 848,919 Residential Real Estate 1,661,180 1,774,513 289,112 Installment and Other Consumer 106,090 106,090 39,481 $ 20,072,099 $ 20,392,750 $ 3,642,968 |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of June 30, 2017 CRE Non Owner-Occupied Internally Assigned Risk Rating C&I Owner-Occupied CRE Commercial Construction, Land Development, and Other Land Other CRE Total As a % of Total Pass (Ratings 1 through 5) $ 904,511,211 $ 301,874,401 $ 172,442,816 $ 622,588,629 $ 2,001,417,057 96.48 % Special Mention (Rating 6) 10,814,298 10,448,915 1,780,000 4,693,909 27,737,122 1.34 % Substandard (Rating 7) 27,212,910 4,901,739 5,093,211 8,082,503 45,290,363 2.18 % Doubtful (Rating 8) - - - - - 0.00 % $ 942,538,419 $ 317,225,055 $ 179,316,027 $ 635,365,041 $ 2,074,444,542 100.00 % As of December 31, 2016 CRE Non Owner-Occupied Internally Assigned Risk Rating C&I Owner-Occupied CRE Commercial Construction, Land Development, and Other Land Other CRE Total As a % of Total Pass (Ratings 1 through 5) $ 796,568,451 $ 314,447,662 $ 158,108,465 $ 582,854,048 $ 1,851,978,626 96.40 % Special Mention (Rating 6) 6,305,772 7,559,380 1,780,000 4,437,122 20,082,274 1.05 % Substandard (Rating 7) 24,763,040 10,380,369 5,261,026 8,630,578 49,035,013 2.55 % Doubtful (Rating 8) - 210 - - 210 0.00 % $ 827,637,263 $ 332,387,621 $ 165,149,491 $ 595,921,748 $ 1,921,096,123 100.00 % |
Financing Receivable Credit Quality Indicators Performance Status [Table Text Block] | As of June 30, 2017 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 149,599,768 $ 232,214,292 $ 83,686,932 $ 465,500,992 98.78 % Nonperforming 3,736,780 1,656,386 360,471 5,753,637 1.22 % $ 153,336,548 $ 233,870,678 $ 84,047,403 $ 471,254,629 100.00 % As of December 31, 2016 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 161,749,710 $ 227,277,070 $ 81,449,104 $ 470,475,884 98.77 % Nonperforming 3,669,650 1,956,034 216,591 5,842,275 1.23 % $ 165,419,360 $ 229,233,104 $ 81,665,695 $ 476,318,159 100.00 % |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | For the three months ended June 30, 2017 For the three months ended June 30, 2016 Classes of Loans/Leases Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity C&I - - - - 1 $ 52,286 $ 52,286 $ - Direct Financing Leases 1 $ 98,119 $ 98,119 $ - - $ - $ - $ - 1 $ 98,119 $ 98,119 $ - 1 $ 52,286 $ 52,286 $ - CONCESSION - Significant Payment Delay C&I 1 $ 47,509 $ 47,509 $ - 1 $ 62,140 $ 62,140 $ - Direct Financing Leases 15 802,542 802,542 - 4 494,692 494,692 - 16 $ 850,051 $ 850,051 $ - 5 $ 556,832 $ 556,832 $ - CONCESSION - Significant Payment Delay C&I - $ - $ - $ - 1 $ 1,233,740 $ 1,233,740 $ - - $ - $ - $ - 1 $ 1,233,740 $ 1,233,740 $ - TOTAL 17 $ 948,170 $ 948,170 $ - 7 $ 1,842,858 $ 1,842,858 $ - For the six months ended June 30, 2017 For the six months ended June 30, 2016 Classes of Loans/Leases Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance Number of Loans / Leases Pre- Modification Recorded Investment Post-Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity C&I - $ - $ - $ - 1 $ 52,286 $ 52,286 $ - Direct Financing Leases 2 104,382 104,382 - 4 410,653 410,653 - 2 $ 104,382 $ 104,382 $ - 5 $ 462,939 $ 462,939 $ - CONCESSION - Significant Payment Delay C&I 3 $ 181,198 $ 181,198 $ - 1 $ 62,140 $ 62,140 $ - Direct Financing Leases 23 1,472,403 1,472,403 - 5 540,631 540,631 - 26 $ 1,653,601 $ 1,653,601 $ - 6 $ 602,771 $ 602,771 $ - CONCESSION - Interest Rate Adjusted Below Market CRE - Other - $ - $ - $ - 1 $ 1,233,740 $ 1,233,740 $ - - $ - $ - $ - 1 1,233,740 1,233,740 - TOTAL 28 $ 1,757,983 $ 1,757,983 $ - 12 $ 2,299,450 $ 2,299,450 $ - |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Six months ended June 30, June 30, 2017 2016 2017 2016 Net income $ 8,766,017 $ 6,676,467 $ 17,950,982 $ 13,049,956 Basic EPS $ 0.67 $ 0.54 $ 1.36 $ 1.08 Diluted EPS $ 0.65 $ 0.53 $ 1.33 $ 1.07 Weighted average common shares outstanding 13,170,283 12,335,077 13,151,833 12,064,349 Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan 346,309 181,397 350,672 170,863 Weighted average common and common equivalent shares outstanding 13,516,592 12,516,474 13,502,505 12,235,212 |
Note 5 - Fair Value (Tables)
Note 5 - Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements at Reporting Date Using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) June 30, 2017: Securities AFS: U.S. govt. sponsored agency securities $ 41,944,464 $ - $ 41,944,464 $ - Residential mortgage-backed and related securities 164,414,833 - 164,414,833 - Municipal securities 58,100,510 - 58,100,510 - Other securities 4,821,906 1,050 4,820,856 - Interest rate caps 398,973 - 398,973 - Interest rate swaps - assets 2,547,466 - 2,547,466 - Total assets measured at fair value $ 272,228,152 $ 1,050 $ 272,227,102 $ - Interest rate swaps - liabilities $ 2,547,466 $ - $ 2,547,466 $ - Total liabilities measured at fair value $ 2,547,466 $ - $ 2,547,466 $ - December 31, 2016 : Securities AFS: U.S. govt. sponsored agency securities $ 46,083,607 $ - $ 46,083,607 $ - Residential mortgage-backed and related securities 147,702,127 - 147,702,127 - Municipal securities 52,604,426 - 52,604,426 - Other securities 4,722,979 1,361 4,721,618 - Interest rate caps 576,527 - 576,527 - Interest rate swaps - assets 2,338,281 - 2,338,281 - Total assets measured at fair value $ 254,027,947 $ 1,361 $ 254,026,586 $ - Interest rate swaps - liabilities $ 2,338,281 $ - $ 2,338,281 $ - Total liabilities measured at fair value $ 2,338,281 $ - $ 2,338,281 $ - Fair Value Measurements at Reporting Date Using Fair Value Level 1 Level 2 Level 3 June 30, 2017: Impaired loans/leases $ 11,760,878 $ - $ - $ 11,760,878 OREO 5,587,403 - - 5,587,403 $ 17,348,281 $ - $ - $ 17,348,281 December 31, 2016: Impaired loans/leases $ 12,823,121 $ - $ - $ 12,823,121 OREO 5,964,952 - - 5,964,952 $ 18,788,073 $ - $ - $ 18,788,073 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Quantitative Information about Level Fair Value Measurements Fair Value June 30, 2017 Fair Value December 31, 2016 Valuation Technique Unobservable Input Range Impaired loans/leases $ 11,760,878 $ 12,823,121 Appraisal of collateral Appraisal adjustments -10.00% to -50.00% OREO 5,587,403 5,964,952 Appraisal of collateral Appraisal adjustments 0.00% to -35.00% |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value As of June 30, 2017 As of December 31, 2016 Hierarchy Carrying Estimated Carrying Estimated Level Value Fair Value Value Fair Value Cash and due from banks Level 1 $ 77,161,353 $ 77,161,353 $ 70,569,993 $ 70,569,993 Federal funds sold Level 2 19,183,000 19,183,000 22,257,000 22,257,000 Interest-bearing deposits at financial institutions Level 2 53,171,325 53,171,325 63,948,925 63,948,925 Investment securities: HTM Level 2 324,203,634 322,989,377 322,909,056 320,414,899 AFS See Previous Table 269,281,713 269,281,713 251,113,139 251,113,139 Loans/leases receivable, net Level 3 10,889,702 11,760,878 11,873,260 12,823,121 Loans/leases receivable, net Level 2 2,509,319,274 2,491,370,000 2,362,856,277 2,344,462,740 Interest rate caps Level 2 398,973 398,973 576,527 576,527 Interest rate swaps - assets Level 2 2,547,466 2,547,466 2,338,281 2,338,281 Deposits: Nonmaturity deposits Level 2 2,311,779,642 2,311,779,642 2,188,683,349 2,188,683,349 Time deposits Level 2 558,454,597 557,833,000 480,577,924 479,605,000 Short-term borrowings Level 2 18,217,393 18,217,393 39,971,387 39,971,387 FHLB advances Level 2 106,500,000 107,071,000 137,500,000 138,338,000 Other borrowings Level 2 72,000,000 73,041,000 80,000,000 81,282,000 Junior subordinated debentures Level 2 33,546,425 25,169,023 33,480,202 24,881,494 Interest rate swaps - liabilities Level 2 2,547,466 2,547,466 2,338,281 2,338,281 |
Note 6 - Business Segment Inf23
Note 6 - Business Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Commercial Banking Wealth Intercompany Consolidated QCBT CRBT CSB RB&T Management All Other Eliminations Total Three Months Ended June 30, 2017 Total revenue $ 14,210,040 $ 10,149,769 $ 8,171,307 $ 4,241,431 $ 2,560,836 $ 10,181,814 $ (10,279,411 ) $ 39,235,786 Net interest income $ 11,414,818 $ 7,230,425 $ 6,920,820 $ 3,095,512 $ - $ (614,878 ) $ - $ 28,046,697 Provision for loan/lease losses $ 552,993 $ 300,000 $ 861,000 $ 309,000 $ - $ - $ - $ 2,022,993 Net income $ 4,073,777 $ 2,870,582 $ 1,920,040 $ 834,842 $ 454,465 $ 8,766,014 $ (10,153,703 ) $ 8,766,017 Goodwill $ 3,222,688 $ - $ 9,888,225 $ - $ - $ - $ - $ 13,110,913 Core deposit intangible $ - $ 1,172,141 $ 5,747,339 $ - $ - $ - $ - $ 6,919,480 Total assets $ 1,400,307,827 $ 993,768,912 $ 642,761,140 $ 426,159,677 $ - $ 382,407,292 $ (388,218,153 ) $ 3,457,186,695 Three Months Ended June 30, 2016 Total revenue $ 14,162,914 $ 10,438,092 $ - $ 3,918,629 $ 2,204,821 $ 8,244,495 $ (8,293,266 ) $ 30,675,685 Net interest income $ 11,207,759 $ 7,135,725 $ - $ 2,945,417 $ - $ (280,088 ) $ - $ 21,008,813 Provision for loan/lease losses $ 747,850 $ 150,000 $ - $ 300,000 $ - $ - $ - $ 1,197,850 Net income $ 3,898,343 $ 3,144,986 $ - $ 772,169 $ 386,202 $ 6,676,467 $ (8,201,700 ) $ 6,676,467 Goodwill $ 3,222,688 $ - $ - $ - $ - $ - $ - $ 3,222,688 Core deposit intangible $ - $ 1,371,653 $ - $ - $ - $ - $ - $ 1,371,653 Total assets $ 1,390,025,232 $ 904,367,275 $ - $ 402,157,473 $ - $ 328,099,700 $ (341,215,392 ) $ 2,683,434,288 Six Months Ended June 30, 2017 Total revenue $ 27,745,981 $ 20,536,314 $ 16,303,013 $ 8,189,230 $ 5,262,642 $ 20,057,957 $ (20,230,498 ) $ 77,864,639 Net interest income $ 22,716,300 $ 14,204,472 $ 13,947,328 $ 6,063,586 $ - $ (1,216,106 ) $ - $ 55,715,580 Provision for loan/lease losses $ 1,484,102 $ 550,000 $ 1,635,000 $ 459,000 $ - $ - $ - $ 4,128,102 Net income $ 7,728,783 $ 5,763,142 $ 3,815,174 $ 1,679,411 $ 1,015,527 $ 17,950,982 $ (20,002,037 ) $ 17,950,982 Goodwill $ 3,222,688 $ - $ 9,888,225 $ - $ - $ - $ - $ 13,110,913 Core deposit intangible $ - $ 1,172,141 $ 5,747,339 $ - $ - $ - $ - $ 6,919,480 Total assets $ 1,400,307,827 $ 993,768,912 $ 642,761,140 $ 426,159,677 $ - $ 382,407,292 $ (388,218,153 ) $ 3,457,186,695 Six Months Ended June 30, 2016 Total revenue $ 27,679,846 $ 21,277,313 $ - $ 7,712,876 $ 4,439,113 $ 15,104,270 $ (15,213,201 ) $ 61,000,217 Net interest income $ 22,169,206 $ 14,160,713 $ - $ 5,857,391 $ - $ (580,975 ) $ - $ 41,606,335 Provision for loan/lease losses $ 1,970,835 $ 700,000 $ - $ 600,000 $ - $ - $ - $ 3,270,835 Net income $ 6,730,039 $ 6,079,717 $ - $ 1,389,954 $ 833,972 $ 13,049,955 $ (15,033,681 ) $ 13,049,956 Goodwill $ 3,222,688 $ - $ - $ - $ - $ - $ - $ 3,222,688 Core deposit intangible $ - $ 1,371,653 $ - $ - $ - $ - $ - $ 1,371,653 Total assets $ 1,390,025,232 $ 904,367,275 $ - $ 402,157,473 $ - $ 328,099,700 $ (341,215,392 ) $ 2,683,434,288 |
Note 7 - Regulatory Capital R24
Note 7 - Regulatory Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | For Capital To Be Well Adequacy Purposes Capitalized Under For Capital With Capital Prompt Corrective Actual Adequacy Purposes Conservation Buffer* Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of June 30, 2017: Company: Total risk-based capital $ 347,033 11.65 % $ 238,402 > 8.000 % $ 275,652 > 9.25 % $ 298,003 > 10.0 % Tier 1 risk-based capital 313,333 10.51 % 178,802 > 6.000 216,052 > 7.25 238,402 > 8.0 Tier 1 leverage 313,333 9.34 % 134,142 > 4.000 134,142 > 4.00 167,677 > 5.0 Common equity Tier 1 281,774 9.46 % 134,101 > 4.500 171,352 > 5.75 193,702 > 6.5 Quad City Bank & Trust: Total risk-based capital $ 149,008 12.59 % $ 94,717 > 8.000 % $ 109,516 > 9.25 % $ 118,396 > 10.0 % Tier 1 risk-based capital 135,628 11.46 % 71,038 > 6.000 85,837 > 7.25 94,717 > 8.0 Tier 1 leverage 135,628 9.56 % 56,719 > 4.000 56,719 > 4.00 70,898 > 5.0 Common equity Tier 1 135,628 11.46 % 53,278 > 4.500 68,078 > 5.75 76,957 > 6.5 Cedar Rapids Bank & Trust: Total risk-based capital $ 110,561 12.19 % $ 72,578 > 8.000 % $ 83,918 > 9.25 % $ 90,722 > 10.0 % Tier 1 risk-based capital 99,216 10.94 % 54,434 > 6.000 65,774 > 7.25 72,578 > 8.0 Tier 1 leverage 99,216 10.43 % 38,044 > 4.000 38,044 > 4.00 47,555 > 5.0 Common equity Tier 1 99,216 10.94 % 40,825 > 4.500 52,165 > 5.75 58,969 > 6.5 Community State Bank: Total risk-based capital $ 69,222 13.32 % $ 41,577 > 8.000 % $ 48,074 > 9.25 % $ 51,972 > 10.0 % Tier 1 risk-based capital 66,089 12.72 % 31,183 > 6.000 37,679 > 7.25 41,577 > 8.0 Tier 1 leverage 66,089 10.91 % 24,231 > 4.000 24,231 > 4.00 30,289 > 5.0 Common equity Tier 1 66,089 12.72 % 23,387 > 4.500 29,884 > 5.75 33,782 > 6.5 Rockford Bank & Trust Total risk-based capital $ 44,068 11.78 % $ 29,922 > 8.000 % $ 34,598 > 9.25 % $ 37,403 > 10.0 % Tier 1 risk-based capital 39,384 10.53 % 22,442 > 6.000 27,117 > 7.25 29,922 > 8.0 Tier 1 leverage 39,384 9.63 % 16,354 > 4.000 16,354 > 4.00 20,442 > 5.0 Common equity Tier 1 39,384 10.53 % 16,831 > 4.500 21,507 > 5.75 24,312 > 6.5 For Capital To Be Well Adequacy Purposes Capitalized Under For Capital With Capital Prompt Corrective Actual Adequacy Purposes Conservation Buffer* Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016: Company: Total risk-based capital $ 327,440 11.56 % $ 226,587 > 8.000 % $ 244,289 > 8.625 % $ 283,233 > 10.0 % Tier 1 risk-based capital 296,366 10.46 % 169,940 > 6.000 187,642 > 6.625 226,587 > 8.0 Tier 1 leverage 296,366 9.10 % 130,229 > 4.000 130,229 > 4.000 162,787 > 5.0 Common equity Tier 1 266,419 9.41 % 127,455 > 4.500 145,157 > 5.125 184,102 > 6.5 Quad City Bank & Trust: Total risk-based capital $ 142,990 12.27 % $ 93,212 > 8.000 % $ 100,494 > 8.625 % $ 116,515 > 10.0 % Tier 1 risk-based capital 129,524 11.12 % 69,909 > 6.000 77,191 > 6.625 93,212 > 8.0 Tier 1 leverage 129,524 9.18 % 56,445 > 4.000 56,445 > 4.000 70,556 > 5.0 Common equity Tier 1 129,524 11.12 % 52,432 > 4.500 59,714 > 5.125 75,735 > 6.5 Cedar Rapids Bank & Trust: Total risk-based capital $ 106,791 12.82 % $ 66,623 > 8.000 % $ 71,828 > 8.625 % $ 83,279 > 10.0 % Tier 1 risk-based capital 96,369 11.57 % 49,968 > 6.000 55,173 > 6.625 66,623 > 8.0 Tier 1 leverage 96,369 10.69 % 36,061 > 4.000 36,061 > 4.000 45,076 > 5.0 Common equity Tier 1 96,369 11.57 % 37,476 > 4.500 42,681 > 5.125 54,132 > 6.5 Community State Bank: Total risk-based capital $ 68,216 13.81 % $ 39,521 > 8.000 % $ 42,609 > 8.625 % $ 49,402 > 10.0 % Tier 1 risk-based capital 66,746 13.51 % 29,641 > 6.000 32,729 > 6.625 39,522 > 8.0 Tier 1 leverage 66,746 11.75 % 22,726 > 4.000 22,726 > 4.000 28,408 > 5.0 Common equity Tier 1 66,746 13.51 % 22,231 > 4.500 25,319 > 5.125 32,111 > 6.5 Rockford Bank & Trust: Total risk-based capital $ 42,007 12.26 % $ 27,410 > 8.000 % $ 29,551 > 8.625 % $ 34,262 > 10.0 % Tier 1 risk-based capital 37,716 11.01 % 20,558 > 6.000 22,699 > 6.625 27,410 > 8.0 Tier 1 leverage 37,716 9.57 % 15,772 > 4.000 15,772 > 4.000 19,716 > 5.0 Common equity Tier 1 37,716 11.01 % 15,418 > 4.500 17,559 > 5.125 22,270 > 6.5 |
Note 1 - Summary of Significa25
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | |
Number of Subsidiaries | 4 | 4 | ||
Income Tax Expense (Benefit) | $ 2,635,576 | $ 2,153,144 | $ 5,025,022 | $ 4,172,167 |
Accounting Standards Update 2016-09 [Member] | ||||
Income Tax Expense (Benefit) | $ (90,000) | $ (623,000) |
Note 2 - Investment Securitie26
Note 2 - Investment Securities (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Number of Securities | 568 | 568 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 212 | 212 | |||
Aggregate Depreciation from Amortized Cost Basis, Percent | 0.90% | ||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 30 | 30 | |||
General Obligation Bonds [Member] | Stockholders' Equity, Total [Member] | Credit Concentration Risk [Member] | |||||
Concentration Risk, Percentage | 0.00% | 0.00% | |||
Revenue Bonds [Member] | Stockholders' Equity, Total [Member] | Credit Concentration Risk [Member] | |||||
Concentration Risk, Percentage | 0.00% | 0.00% | |||
Municipal Bonds [Member] | General Obligation Bonds [Member] | |||||
Number of Issuers | 124 | 124 | 116 | ||
Number of States Investments Held in | 21 | 21 | 21 | ||
Other Investments | $ 107,900 | $ 107,900 | $ 116,500 | ||
Municipal Bonds [Member] | General Obligation Bonds [Member] | Aggregate Fair Value Exceeding 5 Million [Member] | |||||
Number of States Investments Held in | 5 | ||||
Municipal Bonds [Member] | General Obligation Bonds [Member] | Minimum [Member] | |||||
Number of States Investments Held in | 6 | 6 | |||
Other Investments | $ 5,000 | $ 5,000 | $ 5,000 | ||
Municipal Bonds [Member] | Revenue Bonds [Member] | |||||
Number of Issuers | 126 | 126 | 120 | ||
Number of States Investments Held in | 13 | 13 | 12 | ||
Other Investments | $ 272,200 | $ 272,200 | $ 255,500 | ||
Municipal Bonds [Member] | Revenue Bonds [Member] | Aggregate Fair Value Exceeding 5 Million [Member] | |||||
Number of States Investments Held in | 6 | 6 | 6 | ||
Municipal Bonds [Member] | Revenue Bonds [Member] | Minimum [Member] | |||||
Other Investments | $ 5,000 | $ 5,000 | $ 5,000 | ||
Equity Securities [Member] | |||||
Percentage of Investment Portfolio | 1.00% | 1.00% | 1.00% | ||
Debt Securities [Member] | |||||
Other than Temporary Impairment Losses, Investments | $ 0 | $ 0 | $ 0 | $ 0 |
Note 2 - Investment Securitie27
Note 2 - Investment Securities - Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Securities HTM: | ||
Securities held to maturity, at amortized cost | $ 324,203,634 | $ 322,909,056 |
Securities held to maturity, gross unrealized gains | 2,027,969 | 2,200,577 |
Securities held to maturity, gross unrealized (losses) | (3,242,226) | (4,694,734) |
322,989,377 | 320,414,899 | |
Securities available for sale, gross unrealized gains | 1,592,903 | 1,437,658 |
Securities available for sale, gross unrealized (losses) | (2,359,129) | (3,933,920) |
Securities available for sale, fair value | 269,281,713 | 251,113,139 |
Securities AFS: | ||
Securities available for sale, amortized cost | 270,047,939 | 253,609,401 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities HTM: | ||
Securities held to maturity, at amortized cost | 323,153,634 | 321,859,056 |
Securities held to maturity, gross unrealized gains | 2,027,969 | 2,200,577 |
Securities held to maturity, gross unrealized (losses) | (3,242,226) | (4,694,734) |
321,939,377 | 319,364,899 | |
Securities available for sale, gross unrealized gains | 471,713 | 425,801 |
Securities available for sale, gross unrealized (losses) | (252,541) | (637,916) |
Securities available for sale, fair value | 58,100,510 | 52,604,426 |
Securities AFS: | ||
Securities available for sale, amortized cost | 57,881,338 | 52,816,541 |
Other Securities [Member] | ||
Securities HTM: | ||
Securities held to maturity, at amortized cost | 1,050,000 | 1,050,000 |
Securities held to maturity, gross unrealized gains | ||
Securities held to maturity, gross unrealized (losses) | ||
1,050,000 | 1,050,000 | |
Securities available for sale, gross unrealized gains | 778,988 | 703,978 |
Securities available for sale, gross unrealized (losses) | (22,550) | (27,331) |
Securities available for sale, fair value | 4,821,906 | 4,722,979 |
Securities AFS: | ||
Securities available for sale, amortized cost | 4,065,468 | 4,046,332 |
US Government Agencies Debt Securities [Member] | ||
Securities HTM: | ||
Securities available for sale, gross unrealized gains | 96,651 | 132,886 |
Securities available for sale, gross unrealized (losses) | (189,347) | (330,585) |
Securities available for sale, fair value | 41,944,464 | 46,083,607 |
Securities AFS: | ||
Securities available for sale, amortized cost | 42,037,160 | 46,281,306 |
Residential Mortgage Backed Securities [Member] | ||
Securities HTM: | ||
Securities available for sale, gross unrealized gains | 245,551 | 174,993 |
Securities available for sale, gross unrealized (losses) | (1,894,691) | (2,938,088) |
Securities available for sale, fair value | 164,414,833 | 147,702,127 |
Securities AFS: | ||
Securities available for sale, amortized cost | $ 166,063,973 | $ 150,465,222 |
Note 2 - Investment Securitie28
Note 2 - Investment Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available for sale, fair value | $ 197,596,355 | $ 193,899,683 |
Securities available for sale, gross unrealized losses | (2,359,129) | (3,933,920) |
Securities available for sale, less than 12 months, fair value | 183,645,208 | 180,624,957 |
Securities available for sale, less than 12 months, gross unrealized losses | (2,055,337) | (3,545,097) |
Securities available for sale, 12 months or more, fair value | 13,951,147 | 13,274,726 |
Securities available for sale, 12 months or more, gross unrealized losses | (303,792) | (388,823) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, fair value | 25,914,485 | 34,490,921 |
Securities available for sale, gross unrealized losses | (252,541) | (637,916) |
Securities held to maturity, less than 12 months, fair value | 64,001,034 | 122,271,533 |
Securities held to maturity, less than 12 months, gross unrealized losses | (1,792,524) | (4,076,647) |
Securities held to maturity, 12 months or more, fair value | 30,641,106 | 13,010,803 |
Securities held to maturity, 12 months or more, gross unrealized losses | (1,449,702) | (618,087) |
Securities held to maturity, fair value | 94,642,140 | 135,282,336 |
Securities held to maturity, gross unrealized losses | (3,242,226) | (4,694,734) |
Securities available for sale, less than 12 months, fair value | 25,578,044 | 34,152,822 |
Securities available for sale, less than 12 months, gross unrealized losses | (234,044) | (618,462) |
Securities available for sale, 12 months or more, fair value | 336,441 | 338,099 |
Securities available for sale, 12 months or more, gross unrealized losses | (18,497) | (19,454) |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, fair value | 32,568,525 | 27,287,151 |
Securities available for sale, gross unrealized losses | (189,347) | (330,585) |
Securities available for sale, less than 12 months, fair value | 27,793,290 | 21,788,139 |
Securities available for sale, less than 12 months, gross unrealized losses | (184,702) | (257,640) |
Securities available for sale, 12 months or more, fair value | 4,775,235 | 5,499,012 |
Securities available for sale, 12 months or more, gross unrealized losses | (4,645) | (72,945) |
Residential Mortgage Backed Securities [Member] | ||
Securities available for sale, fair value | 138,186,545 | 128,944,197 |
Securities available for sale, gross unrealized losses | (1,894,691) | (2,938,088) |
Securities available for sale, less than 12 months, fair value | 129,347,074 | 121,506,582 |
Securities available for sale, less than 12 months, gross unrealized losses | (1,614,041) | (2,641,664) |
Securities available for sale, 12 months or more, fair value | 8,839,471 | 7,437,615 |
Securities available for sale, 12 months or more, gross unrealized losses | (280,650) | (296,424) |
Other Securities [Member] | ||
Securities available for sale, fair value | 926,800 | 3,177,414 |
Securities available for sale, gross unrealized losses | (22,550) | (27,331) |
Securities available for sale, less than 12 months, fair value | 926,800 | 3,177,414 |
Securities available for sale, less than 12 months, gross unrealized losses | $ (22,550) | $ (27,331) |
Note 2 - Investment Securitie29
Note 2 - Investment Securities - Sales of Securities (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Proceeds from sales of securities | $ 13,554,075 | $ 5,548,294 | $ 13,554,075 | $ 61,075,145 |
Pre-tax gross gains from sales of securities | 59,568 | 18,030 | 59,568 | 533,545 |
Pre-tax gross losses from sales of securities | $ (21,104) | $ (21,104) | $ (157,035) |
Note 2 - Investment Securitie30
Note 2 - Investment Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Due in one year or less | $ 7,479,990 | |
Due in one year or less | 7,478,528 | |
Due after one year through five years | 18,040,753 | |
Due after one year through five years | 18,137,483 | |
Due after five years | 298,682,891 | |
Due after five years | 297,373,366 | |
324,203,634 | ||
322,989,377 | $ 320,414,899 | |
Due in one year or less | 3,498,188 | |
Due in one year or less | 3,504,089 | |
Due after one year through five years | 31,550,278 | |
Due after one year through five years | 31,700,139 | |
Due after five years | 64,870,032 | |
Due after five years | 64,840,746 | |
99,918,498 | ||
100,044,974 | ||
270,047,939 | ||
269,281,713 | ||
Callable Securities [Member] | ||
46,183,946 | ||
46,135,385 | ||
US States and Political Subdivisions Debt Securities [Member] | ||
321,939,377 | 319,364,899 | |
US States and Political Subdivisions Debt Securities [Member] | Callable Securities [Member] | ||
Amortized Cost | 41,135,349 | |
Fair Value | 41,095,251 | |
US Government-sponsored Enterprises Debt Securities [Member] | Callable Securities [Member] | ||
Amortized Cost | 5,048,597 | |
Fair Value | 5,040,134 | |
Residential Mortgage Backed Securities [Member] | ||
Amortized Cost | 166,063,973 | |
Fair Value | 164,414,833 | |
Other Securities [Member] | ||
1,050,000 | $ 1,050,000 | |
Amortized Cost | 4,065,468 | |
Fair Value | 4,821,906 | |
Callable Securities [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Amortized Cost | 170,556,294 | |
Fair Value | $ 170,715,228 |
Note 2 - Investment Securitie31
Note 2 - Investment Securities - Amortized Cost and Fair Values of General Obligation Bonds and Revenue Bonds by Issuer's State (Details) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
General Obligation Bonds [Member] | ||
Fair value | $ 107,854,685 | $ 116,472,635 |
Average exposure per issuer (fair value) | $ 869,796 | $ 1,004,074 |
Number of issuers | 124 | 116 |
Amortized cost | $ 107,652,780 | $ 117,205,307 |
General Obligation Bonds [Member] | Iowa [Member] | ||
Fair value | 31,242,925 | 32,231,936 |
Average exposure per issuer (fair value) | $ 1,201,651 | $ 1,193,775 |
Number of issuers | 26 | 27 |
Amortized cost | $ 31,131,484 | $ 32,258,612 |
General Obligation Bonds [Member] | Missouri [Member] | ||
Fair value | 9,123,733 | 8,323,245 |
Average exposure per issuer (fair value) | $ 570,233 | $ 594,518 |
Number of issuers | 16 | 14 |
Amortized cost | $ 9,078,540 | $ 8,291,192 |
General Obligation Bonds [Member] | North Dakota [Member] | ||
Fair value | 21,514,855 | 21,499,075 |
Average exposure per issuer (fair value) | $ 3,073,551 | $ 3,071,296 |
Number of issuers | 7 | 7 |
Amortized cost | $ 21,619,812 | $ 22,169,050 |
General Obligation Bonds [Member] | Illinois [Member] | ||
Fair value | 15,051,806 | 29,308,438 |
Average exposure per issuer (fair value) | $ 792,200 | $ 1,542,549 |
Number of issuers | 19 | 19 |
Amortized cost | $ 14,872,773 | $ 29,214,559 |
General Obligation Bonds [Member] | Ohio [Member] | ||
Fair value | 8,588,019 | 6,651,897 |
Average exposure per issuer (fair value) | $ 858,802 | $ 831,487 |
Number of issuers | 10 | 8 |
Amortized cost | $ 8,716,542 | $ 6,790,398 |
General Obligation Bonds [Member] | Texas [Member] | ||
Fair value | 5,336,188 | |
Average exposure per issuer (fair value) | $ 667,024 | |
Number of issuers | 8 | |
Amortized cost | $ 5,347,075 | |
General Obligation Bonds [Member] | Other States [Member] | ||
Fair value | 16,997,159 | 18,458,044 |
Average exposure per issuer (fair value) | $ 447,294 | $ 450,196 |
Number of issuers | 38 | 41 |
Amortized cost | $ 16,886,554 | $ 18,481,496 |
Revenue Bonds [Member] | ||
Fair value | 272,185,202 | 255,496,690 |
Average exposure per issuer (fair value) | $ 2,160,200 | $ 2,129,139 |
Number of issuers | 126 | 120 |
Amortized cost | $ 273,382,192 | $ 257,470,290 |
Revenue Bonds [Member] | Iowa [Member] | ||
Fair value | 57,834,419 | 71,142,393 |
Average exposure per issuer (fair value) | $ 2,142,016 | $ 2,294,916 |
Number of issuers | 27 | 31 |
Amortized cost | $ 57,862,675 | $ 70,788,393 |
Revenue Bonds [Member] | Missouri [Member] | ||
Fair value | 106,983,845 | 89,664,013 |
Average exposure per issuer (fair value) | $ 1,981,182 | $ 1,907,745 |
Number of issuers | 54 | 47 |
Amortized cost | $ 107,360,504 | $ 90,784,441 |
Revenue Bonds [Member] | North Dakota [Member] | ||
Fair value | 11,676,766 | 7,796,381 |
Average exposure per issuer (fair value) | $ 2,335,353 | $ 1,949,095 |
Number of issuers | 5 | 4 |
Amortized cost | $ 11,729,782 | $ 8,089,067 |
Revenue Bonds [Member] | Indiana [Member] | ||
Fair value | 49,578,767 | 47,582,138 |
Average exposure per issuer (fair value) | $ 2,360,894 | $ 2,162,824 |
Number of issuers | 21 | 22 |
Amortized cost | $ 50,114,290 | $ 47,994,737 |
Revenue Bonds [Member] | Ohio [Member] | ||
Fair value | 19,493,348 | 13,405,222 |
Average exposure per issuer (fair value) | $ 3,898,670 | $ 4,468,407 |
Number of issuers | 5 | 3 |
Amortized cost | $ 19,691,358 | $ 13,650,000 |
Revenue Bonds [Member] | Kansas [Member] | ||
Fair value | 13,179,104 | 13,427,491 |
Average exposure per issuer (fair value) | $ 2,196,517 | $ 2,237,915 |
Number of issuers | 6 | 6 |
Amortized cost | $ 13,178,963 | $ 13,476,366 |
Revenue Bonds [Member] | Other States [Member] | ||
Fair value | 13,438,953 | 12,479,052 |
Average exposure per issuer (fair value) | $ 1,679,869 | $ 1,782,722 |
Number of issuers | 8 | 7 |
Amortized cost | $ 13,444,620 | $ 12,687,286 |
Note 3 - Loans Leases Receiva32
Note 3 - Loans Leases Receivable (Details Textual) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 13,217,409 | $ 13,919,066 | $ 13,217,409 | |||
Financing Receivable, Modifications, Recorded Investment | $ 9,083,036 | 8,647,007 | $ 9,083,036 | |||
Financing Receivable, Modifications, Number of Contracts | 17 | 7 | 28 | 12 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 948,170 | $ 1,842,858 | $ 1,757,983 | $ 2,299,450 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 195,000 | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 0 | 2 | 0 | ||
Losses on Residual Value | $ 0 | $ 0 | $ 0 | $ 0 | ||
Nonaccrual [Member] | ||||||
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,233,740 | |||||
Troubled Debt Restructurings [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,167,863 | $ 2,300,479 | $ 2,167,863 | |||
Financing Receivable, Modifications, Number of Contracts | 2 | |||||
Residential Portfolio Segment [Member] | ||||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 705,800 | $ 1,135,500 | 705,800 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,047,911 | 1,075,639 | [1] | 1,047,911 | ||
Residential Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 41,465 | 43,579 | 41,465 | |||
Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,074,004 | 4,187,786 | [1] | 4,074,004 | ||
Commercial Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 268,629 | 48,501 | 268,629 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,347,017 | 4,353,819 | [1] | 4,347,017 | ||
Commercial Real Estate Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,148,818 | 1,380,047 | 1,148,818 | |||
Commercial Real Estate Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | Construction Loans [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 179,881 | 179,881 | ||||
Finance Leases Portfolio Segment [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,047,694 | 2,446,181 | [1] | 2,047,694 | ||
Finance Leases Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 519,178 | 816,149 | 519,178 | |||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 223,708 | 87,344 | [1] | 223,708 | ||
Consumer Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 9,892 | $ 12,203 | $ 9,892 | |||
[1] | Nonaccrual loans/leases included $2,300,479 of TDRs, including $48,501 in C&I loans, $1,380,047 in CRE loans, $816,149 in direct financing leases, $43,579 in residential real estate loans, and $12,203 in installment loans. |
Note 3 - Loans Leases Receiva33
Note 3 - Loans Leases Receivable - Composition of the Loan Lease Portfolio (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |||
Loans | $ 2,545,699,171 | $ 2,397,414,282 | |||||||
Plus deferred loan/lease origination costs, net of fees | 7,866,437 | 8,072,703 | |||||||
Gross loans/leases receivable | 2,553,565,608 | 2,405,486,985 | |||||||
Less allowance | (33,356,632) | $ (32,059,150) | (30,757,448) | $ (28,097,490) | $ (27,395,442) | $ (26,140,906) | |||
2,520,208,976 | 2,374,729,537 | ||||||||
Commercial Portfolio Segment [Member] | |||||||||
Loans | 942,538,419 | 827,637,263 | |||||||
Less allowance | (14,207,733) | (12,954,090) | (12,545,110) | (10,724,506) | (10,991,979) | (10,484,080) | |||
Commercial Real Estate Portfolio Segment [Member] | |||||||||
Loans | 1,131,906,123 | 1,093,458,860 | |||||||
Less allowance | (12,999,233) | (12,643,266) | (11,670,609) | (10,987,062) | (10,090,567) | (9,375,117) | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||||||||
Loans | 317,225,055 | 332,387,621 | |||||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||||
Loans | 179,316,027 | 165,149,491 | |||||||
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||||||||
Loans | 635,365,041 | 595,921,748 | |||||||
Finance Leases Portfolio Segment [Member] | |||||||||
Estimated unguaranteed residual values of leased assets | [1] | 1,085,154 | 1,085,154 | ||||||
Unearned lease/residual income | [1] | (17,892,167) | (19,940,596) | ||||||
Loans | [1],[2] | 153,336,548 | 165,419,360 | ||||||
Plus deferred loan/lease origination costs, net of fees | [1] | 5,216,015 | 5,881,778 | ||||||
Gross loans/leases receivable | [1] | 158,552,563 | 171,301,138 | ||||||
Less allowance | (2,638,301) | [1] | (2,978,260) | (3,111,898) | [1] | (3,226,194) | (3,287,231) | (3,395,088) | |
[1] | 155,914,262 | 168,189,240 | |||||||
Net minimum lease payments to be received | [1] | 170,143,561 | 184,274,802 | ||||||
Residential Portfolio Segment [Member] | |||||||||
Loans | [2],[3] | 233,870,678 | 229,233,104 | ||||||
Less allowance | (2,430,454) | (2,375,864) | (2,342,344) | (2,014,987) | (1,836,622) | (1,790,150) | |||
Consumer Portfolio Segment [Member] | |||||||||
Loans | [2] | 84,047,403 | 81,665,695 | ||||||
Less allowance | $ (1,080,911) | $ (1,107,670) | $ (1,087,487) | $ (1,144,741) | $ (1,189,043) | $ (1,096,471) | |||
[1] | Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management's expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values for the three and six months ended June 30, 2017 and 2016. | ||||||||
[2] | Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing TDRs. | ||||||||
[3] | Includes residential real estate loans held for sale totaling $705,800 and $1,135,500 as of June 30, 2017, and December 31, 2016, respectively. |
Note 3 - Loans Leases Receiva34
Note 3 - Loans Leases Receivable - Changes in Accretable Yield (Details) - Community State Bank [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Balance | $ (5,409,331) | $ (5,409,331) | $ (7,071,690) | $ (9,309,920) |
Accretion recognized | 1,662,359 | 3,900,589 | ||
Performing Financial Instruments [Member] | ||||
Balance | (5,325,471) | (5,325,471) | (6,944,074) | (9,115,614) |
Accretion recognized | 1,618,603 | 3,790,143 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Balance | (83,860) | (83,860) | $ (127,616) | $ (194,306) |
Accretion recognized | $ 43,756 | $ 110,446 |
Note 3 - Loans Leases Receiva35
Note 3 - Loans Leases Receivable - Aging of the Loan Lease Portfolio (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | ||
Nonaccrual Loans/Leases as a percentage of total loan/lease portfolio | 0.52% | 0.58% | ||
Loans and leases as a percentage of total loan/lease portfolio | 100.00% | 100.00% | ||
Current | $ 2,528,144,824 | $ 2,378,270,983 | ||
Accruing Past Due 90 Days or More | 423,946 | 966,814 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 13,217,409 | 13,919,066 | ||
Loans | $ 2,545,699,171 | $ 2,397,414,282 | ||
Current as a percentage of total loan/lease portfolio | 99.31% | 99.20% | ||
Accruing past due 90 days or more as a percentage of total loan/lease portfolio | 0.02% | 0.04% | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | $ 2,908,824 | $ 3,000,574 | ||
Past due as a percentage of total loan/lease portfolio | 0.11% | 0.13% | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | $ 1,004,168 | $ 1,256,845 | ||
Past due as a percentage of total loan/lease portfolio | 0.04% | 0.05% | ||
Commercial Portfolio Segment [Member] | ||||
Current | $ 937,716,988 | $ 821,637,507 | ||
Accruing Past Due 90 Days or More | 45,812 | 346,234 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,074,004 | 4,187,786 | [1] | |
Loans | 942,538,419 | 827,637,263 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 271,248 | 1,455,185 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | 430,367 | 10,551 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 1,131,906,123 | 1,093,458,860 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||||
Current | 316,555,536 | 331,812,571 | ||
Accruing Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 155,020 | 332,148 | [1] | |
Loans | 317,225,055 | 332,387,621 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Current | 174,851,763 | 160,760,034 | ||
Accruing Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,347,017 | 4,353,819 | [1] | |
Loans | 179,316,027 | 165,149,491 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||||
Current | 632,539,426 | 594,384,926 | ||
Accruing Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,322,055 | 1,436,149 | [1] | |
Loans | 635,365,041 | 595,921,748 | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||||
Past Due | 514,499 | |||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||||
Past Due | 117,247 | 35,638 | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||||
Past Due | 1,503,560 | 100,673 | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||||
Past Due | 242,902 | |||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||||
Past Due | ||||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||||
Past Due | ||||
Finance Leases Portfolio Segment [Member] | ||||
Current | 151,027,116 | 161,452,627 | ||
Accruing Past Due 90 Days or More | 215,225 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,047,694 | 2,446,181 | [1] | |
Loans | [2],[3] | 153,336,548 | 165,419,360 | |
Finance Leases Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 155,553 | 730,627 | ||
Finance Leases Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | 106,185 | 574,700 | ||
Residential Portfolio Segment [Member] | ||||
Current | 232,076,296 | 227,023,552 | ||
Accruing Past Due 90 Days or More | 257,771 | 294,854 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,047,911 | 1,075,639 | [1] | |
Loans | [3],[4] | 233,870,678 | 229,233,104 | |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 92,966 | 473,478 | ||
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | 395,734 | 365,581 | ||
Consumer Portfolio Segment [Member] | ||||
Current | 83,377,699 | 81,199,766 | ||
Accruing Past Due 90 Days or More | 120,363 | 110,501 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 223,708 | 87,344 | [1] | |
Loans | [3] | 84,047,403 | 81,665,695 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 253,751 | 204,973 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | $ 71,882 | $ 63,111 | ||
[1] | Nonaccrual loans/leases included $2,300,479 of TDRs, including $48,501 in C&I loans, $1,380,047 in CRE loans, $816,149 in direct financing leases, $43,579 in residential real estate loans, and $12,203 in installment loans. | |||
[2] | Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management's expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values for the three and six months ended June 30, 2017 and 2016. | |||
[3] | Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing TDRs. | |||
[4] | Includes residential real estate loans held for sale totaling $705,800 and $1,135,500 as of June 30, 2017, and December 31, 2016, respectively. |
Note 3 - Loans Leases Receiva36
Note 3 - Loans Leases Receivable - Loans Leases Nonperforming Loans Leases (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | |||
Accruing Past Due 90 Days or More | $ 423,946 | $ 966,814 | |||
Nonaccrual Loans/Leases | 13,217,409 | 13,919,066 | |||
Accruing TDRs | 9,083,036 | 8,647,007 | |||
Loans | $ 2,545,699,171 | $ 2,397,414,282 | |||
Percentage of Total NPLs | 100.00% | 100.00% | |||
Nonperforming Financial Instruments [Member] | |||||
Accruing Past Due 90 Days or More | $ 423,946 | $ 966,814 | |||
Nonaccrual Loans/Leases | 13,217,409 | [1] | 13,919,066 | [2] | |
Accruing TDRs | 6,915,173 | 6,346,528 | |||
Loans | $ 20,556,528 | $ 21,232,408 | |||
Percentage of Total NPLs | 100.00% | 100.00% | |||
Commercial Portfolio Segment [Member] | |||||
Accruing Past Due 90 Days or More | $ 45,812 | $ 346,234 | |||
Nonaccrual Loans/Leases | 4,074,004 | 4,187,786 | [2] | ||
Loans | 942,538,419 | 827,637,263 | |||
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Accruing Past Due 90 Days or More | 45,812 | ||||
Nonaccrual Loans/Leases | [1] | 4,074,004 | |||
Accruing TDRs | 4,858,983 | 4,733,997 | |||
Loans | $ 8,978,799 | $ 9,268,017 | |||
Percentage of Total NPLs | 43.68% | 43.65% | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Loans | $ 1,131,906,123 | $ 1,093,458,860 | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||||
Accruing Past Due 90 Days or More | |||||
Nonaccrual Loans/Leases | 155,020 | 332,148 | [2] | ||
Loans | 317,225,055 | 332,387,621 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Accruing Past Due 90 Days or More | |||||
Nonaccrual Loans/Leases | 4,347,017 | 4,353,819 | [2] | ||
Loans | 179,316,027 | 165,149,491 | |||
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||||
Accruing Past Due 90 Days or More | |||||
Nonaccrual Loans/Leases | 1,322,055 | 1,436,149 | [2] | ||
Loans | 635,365,041 | 595,921,748 | |||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||||
Accruing Past Due 90 Days or More | |||||
Nonaccrual Loans/Leases | [1] | 155,020 | |||
Accruing TDRs | |||||
Loans | $ 155,020 | $ 332,148 | |||
Percentage of Total NPLs | 0.75% | 1.56% | |||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | |||||
Accruing Past Due 90 Days or More | |||||
Nonaccrual Loans/Leases | [1] | 4,347,017 | |||
Accruing TDRs | |||||
Loans | $ 4,347,017 | $ 4,353,819 | |||
Percentage of Total NPLs | 21.15% | 20.51% | |||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||||
Accruing Past Due 90 Days or More | |||||
Nonaccrual Loans/Leases | [1] | 1,322,055 | |||
Accruing TDRs | |||||
Loans | $ 1,322,055 | $ 1,436,149 | |||
Percentage of Total NPLs | 6.43% | 6.77% | |||
Finance Leases Portfolio Segment [Member] | |||||
Accruing Past Due 90 Days or More | $ 215,225 | ||||
Nonaccrual Loans/Leases | 2,047,694 | 2,446,181 | [2] | ||
Loans | [3],[4] | 153,336,548 | 165,419,360 | ||
Finance Leases Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Accruing Past Due 90 Days or More | |||||
Nonaccrual Loans/Leases | [1] | 2,047,694 | |||
Accruing TDRs | 1,689,086 | 1,008,244 | |||
Loans | [4] | $ 3,736,780 | $ 3,669,650 | ||
Percentage of Total NPLs | 18.18% | 17.28% | |||
Residential Portfolio Segment [Member] | |||||
Accruing Past Due 90 Days or More | $ 257,771 | $ 294,854 | |||
Nonaccrual Loans/Leases | 1,047,911 | 1,075,639 | [2] | ||
Loans | [4],[5] | 233,870,678 | 229,233,104 | ||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Accruing Past Due 90 Days or More | 257,771 | ||||
Nonaccrual Loans/Leases | [1] | 1,047,911 | |||
Accruing TDRs | 350,704 | 585,541 | |||
Loans | [4] | $ 1,656,386 | $ 1,956,034 | ||
Percentage of Total NPLs | 8.06% | 9.21% | |||
Consumer Portfolio Segment [Member] | |||||
Accruing Past Due 90 Days or More | $ 120,363 | $ 110,501 | |||
Nonaccrual Loans/Leases | 223,708 | 87,344 | [2] | ||
Loans | [4] | 84,047,403 | 81,665,695 | ||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Accruing Past Due 90 Days or More | 120,363 | ||||
Nonaccrual Loans/Leases | [1] | 223,708 | |||
Accruing TDRs | 16,400 | 18,746 | |||
Loans | [4] | $ 360,471 | $ 216,591 | ||
Percentage of Total NPLs | 1.75% | 1.02% | |||
[1] | Nonaccrual loans/leases included $2,167,863 of TDRs, including $268,629 in C&I loans, $1,148,818 in CRE loans, $519,178 in direct financing leases, $179,881 in construction loans, $41,465 in residential real estate loans, and $9,892 in installment loans. | ||||
[2] | Nonaccrual loans/leases included $2,300,479 of TDRs, including $48,501 in C&I loans, $1,380,047 in CRE loans, $816,149 in direct financing leases, $43,579 in residential real estate loans, and $12,203 in installment loans. | ||||
[3] | Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management's expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values for the three and six months ended June 30, 2017 and 2016. | ||||
[4] | Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing TDRs. | ||||
[5] | Includes residential real estate loans held for sale totaling $705,800 and $1,135,500 as of June 30, 2017, and December 31, 2016, respectively. |
Note 3 - Loans Leases Receiva37
Note 3 - Loans Leases Receivable - Allowance for Estimated Losses on Loans Leases (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | ||||||
Balance | $ 32,059,150 | $ 27,395,442 | $ 30,757,448 | $ 26,140,906 | |||||||
Provisions (credits) charged to expense | 2,022,993 | 1,197,850 | 4,128,102 | 3,270,835 | |||||||
Loans/leases charged off | (851,604) | (634,215) | (1,744,230) | (1,502,499) | |||||||
Recoveries on loans/leases previously charged off | 126,093 | 138,413 | 215,312 | 188,248 | |||||||
Balance | 33,356,632 | 28,097,490 | 33,356,632 | 28,097,490 | |||||||
Allowance for nonimpaired loans/leases | $ 30,000,912 | $ 27,114,480 | |||||||||
Less allowance for estimated losses on loans/leases | 33,356,632 | 27,395,442 | 33,356,632 | 28,097,490 | 33,356,632 | 30,757,448 | |||||
Impaired loans/leases | 19,905,183 | 20,072,099 | |||||||||
Nonimpaired loans/leases | 2,525,793,988 | 2,377,342,183 | |||||||||
Loans | $ 2,545,699,171 | $ 2,397,414,282 | |||||||||
Allowance as a percentage of impaired loans/leases | 16.86% | 18.15% | |||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.19% | 1.14% | |||||||||
Total allowance as a percentage of total loans/leases | 1.31% | 1.28% | |||||||||
Allowance for impaired loans/leases | $ 3,355,720 | $ 3,642,968 | |||||||||
Commercial Portfolio Segment [Member] | |||||||||||
Balance | 12,954,090 | 10,991,979 | 12,545,110 | 10,484,080 | |||||||
Provisions (credits) charged to expense | 1,281,786 | (241,600) | 1,875,144 | 498,231 | |||||||
Loans/leases charged off | (74,071) | (48,983) | (292,344) | (292,549) | |||||||
Recoveries on loans/leases previously charged off | 45,928 | 23,110 | 79,823 | 34,744 | |||||||
Balance | 14,207,733 | 10,724,506 | 14,207,733 | 10,724,506 | |||||||
Allowance for nonimpaired loans/leases | 12,627,620 | 10,773,573 | |||||||||
Less allowance for estimated losses on loans/leases | 12,954,090 | 10,991,979 | 14,207,733 | 10,724,506 | 14,207,733 | 12,545,110 | |||||
Impaired loans/leases | 8,985,913 | 8,936,451 | |||||||||
Nonimpaired loans/leases | 933,552,506 | 818,700,812 | |||||||||
Loans | $ 942,538,419 | $ 827,637,263 | |||||||||
Allowance as a percentage of impaired loans/leases | 17.58% | 19.82% | |||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.35% | 1.32% | |||||||||
Total allowance as a percentage of total loans/leases | 1.51% | 1.52% | |||||||||
Allowance for impaired loans/leases | $ 1,580,113 | $ 1,771,537 | |||||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||||||
Balance | 12,643,266 | 10,090,567 | 11,670,609 | 9,375,117 | |||||||
Provisions (credits) charged to expense | 339,857 | 919,596 | 1,306,128 | 1,635,046 | |||||||
Loans/leases charged off | (10,375) | (23,101) | (10,375) | (23,101) | |||||||
Recoveries on loans/leases previously charged off | 26,485 | 32,871 | |||||||||
Balance | 12,999,233 | 10,987,062 | 12,999,233 | 10,987,062 | |||||||
Allowance for nonimpaired loans/leases | 12,060,783 | 10,976,690 | |||||||||
Less allowance for estimated losses on loans/leases | 12,643,266 | 10,090,567 | 12,999,233 | 10,987,062 | 12,999,233 | 11,670,609 | |||||
Impaired loans/leases | 5,727,375 | 6,112,114 | |||||||||
Nonimpaired loans/leases | 1,126,178,748 | 1,087,346,746 | |||||||||
Loans | $ 1,131,906,123 | $ 1,093,458,860 | |||||||||
Allowance as a percentage of impaired loans/leases | 16.39% | 11.35% | |||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.07% | 1.01% | |||||||||
Total allowance as a percentage of total loans/leases | 1.15% | 1.07% | |||||||||
Allowance for impaired loans/leases | $ 938,450 | $ 693,919 | |||||||||
Finance Leases Portfolio Segment [Member] | |||||||||||
Balance | 2,978,260 | 3,287,231 | 3,111,898 | [1] | 3,395,088 | ||||||
Provisions (credits) charged to expense | 297,672 | 460,997 | 802,687 | 939,242 | |||||||
Loans/leases charged off | (684,079) | (534,716) | (1,342,763) | (1,135,654) | |||||||
Recoveries on loans/leases previously charged off | 46,448 | 12,682 | 66,479 | 27,518 | |||||||
Balance | 2,638,301 | [1] | 3,226,194 | 2,638,301 | [1] | 3,226,194 | |||||
Allowance for nonimpaired loans/leases | 2,087,726 | 2,262,979 | |||||||||
Less allowance for estimated losses on loans/leases | 2,638,301 | [1] | 3,287,231 | 2,638,301 | [1] | 3,226,194 | 2,638,301 | [1] | 3,111,898 | [1] | |
Impaired loans/leases | 3,553,173 | 3,256,264 | |||||||||
Nonimpaired loans/leases | 149,783,375 | 162,163,096 | |||||||||
Loans | [1],[2] | $ 153,336,548 | $ 165,419,360 | ||||||||
Allowance as a percentage of impaired loans/leases | 15.50% | 26.07% | |||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.39% | 1.40% | |||||||||
Total allowance as a percentage of total loans/leases | 1.72% | 1.88% | |||||||||
Allowance for impaired loans/leases | $ 550,575 | $ 848,919 | |||||||||
Residential Portfolio Segment [Member] | |||||||||||
Balance | 2,375,864 | 1,836,622 | 2,342,344 | 1,790,150 | |||||||
Provisions (credits) charged to expense | 116,151 | 194,988 | 159,671 | 257,644 | |||||||
Loans/leases charged off | (61,561) | (17,523) | (75,184) | (33,707) | |||||||
Recoveries on loans/leases previously charged off | 900 | 3,623 | 900 | ||||||||
Balance | 2,430,454 | 2,014,987 | 2,430,454 | 2,014,987 | |||||||
Allowance for nonimpaired loans/leases | 2,164,237 | 2,053,232 | |||||||||
Less allowance for estimated losses on loans/leases | 2,375,864 | 1,836,622 | 2,430,454 | 2,014,987 | 2,430,454 | 2,342,344 | |||||
Impaired loans/leases | 1,398,615 | 1,661,180 | |||||||||
Nonimpaired loans/leases | 232,472,063 | 227,571,924 | |||||||||
Loans | [2],[3] | $ 233,870,678 | $ 229,233,104 | ||||||||
Allowance as a percentage of impaired loans/leases | 19.03% | 17.40% | |||||||||
Allowance as a percentage of nonimpaired loans/leases | 0.93% | 0.90% | |||||||||
Total allowance as a percentage of total loans/leases | 1.04% | 1.02% | |||||||||
Allowance for impaired loans/leases | $ 266,217 | $ 289,112 | |||||||||
Consumer Portfolio Segment [Member] | |||||||||||
Balance | 1,107,670 | 1,189,043 | 1,087,487 | 1,096,471 | |||||||
Provisions (credits) charged to expense | (12,473) | (136,131) | (15,528) | (59,328) | |||||||
Loans/leases charged off | (21,518) | (9,892) | (23,564) | (17,488) | |||||||
Recoveries on loans/leases previously charged off | 7,232 | 101,721 | 32,516 | 125,086 | |||||||
Balance | 1,080,911 | 1,144,741 | 1,080,911 | 1,144,741 | |||||||
Allowance for nonimpaired loans/leases | 1,060,546 | 1,048,006 | |||||||||
Less allowance for estimated losses on loans/leases | $ 1,107,670 | $ 1,189,043 | $ 1,080,911 | $ 1,144,741 | 1,080,911 | 1,087,487 | |||||
Impaired loans/leases | 240,107 | 106,090 | |||||||||
Nonimpaired loans/leases | 83,807,296 | 81,559,605 | |||||||||
Loans | [2] | $ 84,047,403 | $ 81,665,695 | ||||||||
Allowance as a percentage of impaired loans/leases | 8.48% | 37.21% | |||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.27% | 1.28% | |||||||||
Total allowance as a percentage of total loans/leases | 1.29% | 1.33% | |||||||||
Allowance for impaired loans/leases | $ 20,365 | $ 39,481 | |||||||||
[1] | Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management's expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values for the three and six months ended June 30, 2017 and 2016. | ||||||||||
[2] | Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing TDRs. | ||||||||||
[3] | Includes residential real estate loans held for sale totaling $705,800 and $1,135,500 as of June 30, 2017, and December 31, 2016, respectively. |
Note 3 - Loans Leases Receiva38
Note 3 - Loans Leases Receivable - Impaired Loans Leases (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | |
Interest income recognized with specific allowance recorded | $ 38,044 | $ 3,416 | $ 104,950 | |
Interest income recognized for cash payments received with specific allowance recorded | 38,044 | 3,416 | 104,950 | |
Average recorded investment | 19,520,131 | 11,592,924 | 19,249,865 | |
Interest income recognized | 86,610 | 27,845 | 180,924 | |
Interest income recognized for cash payments received | 86,610 | 27,845 | 180,924 | |
Recorded investment | 19,905,183 | 19,905,183 | $ 20,072,099 | |
Unpaid principal balance | 199,942,388 | 199,942,388 | 20,392,750 | |
Interest income recognized with no specific allowance recorded | 48,566 | 24,429 | 75,974 | |
Interest income recognized for cash payments received with no specific allowance recorded | 48,566 | 24,429 | 75,974 | |
Recorded investment with no specific allowance recorded | 5,780,824 | 5,780,824 | 4,637,593 | |
Unpaid principal balance with no specific allowance recorded | 5,866,040 | 5,866,040 | 4,880,273 | |
Average recorded investment with no specific allowance recorded | 5,411,867 | 6,318,588 | 5,304,597 | |
Interest income recognized with no specific allowance recorded | 48,566 | 24,429 | 75,974 | |
Interest income recognized for cash payments received with no specific allowance recorded | 48,566 | 24,429 | 75,974 | |
Recorded investment with specific allowance recorded | 14,124,359 | 14,124,359 | 15,434,506 | |
Unpaid principal balance with specific allowance recorded | 14,128,198 | 14,128,198 | 15,512,477 | |
Related allowance | 3,355,720 | 3,355,720 | 3,642,968 | |
Average recorded investment with specific allowance recorded | 14,108,264 | 5,274,336 | 13,945,269 | |
Commercial Portfolio Segment [Member] | ||||
Interest income recognized with specific allowance recorded | 35,055 | 97,721 | ||
Interest income recognized for cash payments received with specific allowance recorded | 35,055 | 97,721 | ||
Average recorded investment | 8,872,011 | 4,816,539 | 8,732,509 | |
Interest income recognized | 44,454 | 3,519 | 114,472 | |
Interest income recognized for cash payments received | 44,454 | 3,519 | 114,472 | |
Recorded investment | 8,985,913 | 8,985,913 | 8,936,451 | |
Unpaid principal balance | 9,000,189 | 9,000,189 | 9,049,995 | |
Interest income recognized with no specific allowance recorded | 9,399 | 3,519 | 16,751 | |
Interest income recognized for cash payments received with no specific allowance recorded | 9,399 | 3,519 | 16,751 | |
Recorded investment with no specific allowance recorded | 993,551 | 993,551 | 841,895 | |
Unpaid principal balance with no specific allowance recorded | 1,003,988 | 1,003,988 | 951,600 | |
Average recorded investment with no specific allowance recorded | 805,309 | 2,524,056 | 802,367 | |
Interest income recognized with no specific allowance recorded | 9,399 | 3,519 | 16,751 | |
Interest income recognized for cash payments received with no specific allowance recorded | 9,399 | 3,519 | 16,751 | |
Recorded investment with specific allowance recorded | 7,992,362 | 7,992,362 | 8,094,556 | |
Unpaid principal balance with specific allowance recorded | 7,996,201 | 7,996,201 | 8,098,395 | |
Related allowance | 1,580,113 | 1,580,113 | 1,771,537 | |
Average recorded investment with specific allowance recorded | 8,066,702 | 2,292,483 | 7,930,142 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||||
Interest income recognized with specific allowance recorded | ||||
Interest income recognized for cash payments received with specific allowance recorded | ||||
Average recorded investment | 238,584 | 121,444 | 266,439 | |
Interest income recognized | ||||
Interest income recognized for cash payments received | ||||
Recorded investment | 155,020 | 155,020 | 322,148 | |
Unpaid principal balance | 155,020 | 155,020 | 415,922 | |
Interest income recognized with no specific allowance recorded | ||||
Interest income recognized for cash payments received with no specific allowance recorded | ||||
Recorded investment with no specific allowance recorded | ||||
Unpaid principal balance with no specific allowance recorded | 93,774 | |||
Average recorded investment with no specific allowance recorded | 121,444 | |||
Interest income recognized with no specific allowance recorded | ||||
Interest income recognized for cash payments received with no specific allowance recorded | ||||
Recorded investment with specific allowance recorded | 155,020 | 155,020 | 322,148 | |
Unpaid principal balance with specific allowance recorded | 155,020 | 155,020 | 322,148 | |
Related allowance | 111,520 | 111,520 | 57,398 | |
Average recorded investment with specific allowance recorded | 238,584 | 266,439 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Interest income recognized with specific allowance recorded | ||||
Interest income recognized for cash payments received with specific allowance recorded | ||||
Average recorded investment | 4,348,142 | 190,174 | 4,350,033 | |
Interest income recognized | ||||
Interest income recognized for cash payments received | ||||
Recorded investment | 4,347,017 | 4,347,017 | 4,353,819 | |
Unpaid principal balance | 4,347,017 | 4,347,017 | 4,353,817 | |
Interest income recognized with no specific allowance recorded | ||||
Interest income recognized for cash payments received with no specific allowance recorded | ||||
Recorded investment with no specific allowance recorded | ||||
Unpaid principal balance with no specific allowance recorded | ||||
Average recorded investment with no specific allowance recorded | ||||
Interest income recognized with no specific allowance recorded | ||||
Interest income recognized for cash payments received with no specific allowance recorded | ||||
Recorded investment with specific allowance recorded | 4,347,017 | 4,347,017 | 4,353,819 | |
Unpaid principal balance with specific allowance recorded | 4,347,017 | 4,347,017 | 4,353,817 | |
Related allowance | 820,811 | 820,811 | 577,611 | |
Average recorded investment with specific allowance recorded | 4,348,142 | 190,174 | 4,350,034 | |
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||||
Interest income recognized with specific allowance recorded | ||||
Interest income recognized for cash payments received with specific allowance recorded | ||||
Average recorded investment | 1,198,421 | 1,969,760 | 1,196,735 | |
Interest income recognized | ||||
Interest income recognized for cash payments received | ||||
Recorded investment | 1,225,337 | 1,225,337 | 1,436,149 | |
Unpaid principal balance | 1,225,337 | 1,225,337 | 1,436,149 | |
Interest income recognized with no specific allowance recorded | ||||
Interest income recognized for cash payments received with no specific allowance recorded | ||||
Recorded investment with no specific allowance recorded | 1,148,818 | 1,148,818 | 1,196,549 | |
Unpaid principal balance with no specific allowance recorded | 1,148,818 | 1,148,818 | 1,196,549 | |
Average recorded investment with no specific allowance recorded | 1,160,161 | 1,311,540 | 1,171,229 | |
Interest income recognized with no specific allowance recorded | ||||
Interest income recognized for cash payments received with no specific allowance recorded | ||||
Recorded investment with specific allowance recorded | 76,519 | 76,519 | 239,600 | |
Unpaid principal balance with specific allowance recorded | 76,519 | 76,519 | 239,600 | |
Related allowance | 6,119 | 6,119 | 58,910 | |
Average recorded investment with specific allowance recorded | 38,260 | 658,220 | 25,506 | |
Finance Leases Portfolio Segment [Member] | ||||
Interest income recognized with specific allowance recorded | ||||
Interest income recognized for cash payments received with specific allowance recorded | ||||
Average recorded investment | 3,317,621 | 2,506,433 | 3,297,169 | |
Interest income recognized | 38,949 | 19,897 | 57,844 | |
Interest income recognized for cash payments received | 38,949 | 19,897 | 57,844 | |
Recorded investment | 3,553,173 | 3,553,173 | 3,256,262 | |
Unpaid principal balance | 3,553,173 | 3,553,173 | 3,256,264 | |
Interest income recognized with no specific allowance recorded | 38,949 | 19,897 | 57,844 | |
Interest income recognized for cash payments received with no specific allowance recorded | 38,949 | 19,897 | 57,844 | |
Recorded investment with no specific allowance recorded | 2,739,319 | 2,739,319 | 1,690,121 | |
Unpaid principal balance with no specific allowance recorded | 2,739,319 | 2,739,319 | 1,690,121 | |
Average recorded investment with no specific allowance recorded | 2,560,019 | 1,510,987 | 2,557,608 | |
Interest income recognized with no specific allowance recorded | 38,949 | 19,897 | 57,844 | |
Interest income recognized for cash payments received with no specific allowance recorded | 38,949 | 19,897 | 57,844 | |
Recorded investment with specific allowance recorded | 813,854 | 813,854 | 1,566,141 | |
Unpaid principal balance with specific allowance recorded | 813,854 | 813,854 | 1,566,143 | |
Related allowance | 550,575 | 550,575 | 848,919 | |
Average recorded investment with specific allowance recorded | 757,602 | 995,446 | 739,561 | |
Residential Portfolio Segment [Member] | ||||
Interest income recognized with specific allowance recorded | 2,989 | 1,948 | 7,229 | |
Interest income recognized for cash payments received with specific allowance recorded | 2,989 | 1,948 | 7,229 | |
Average recorded investment | 1,337,434 | 1,540,625 | 1,233,005 | |
Interest income recognized | 2,989 | 2,961 | 8,390 | |
Interest income recognized for cash payments received | 2,989 | 2,961 | 8,390 | |
Recorded investment | 1,398,615 | 1,398,615 | 1,661,180 | |
Unpaid principal balance | 1,473,393 | 1,473,393 | 1,774,513 | |
Interest income recognized with no specific allowance recorded | 1,013 | 1,161 | ||
Interest income recognized for cash payments received with no specific allowance recorded | 1,013 | 1,161 | ||
Recorded investment with no specific allowance recorded | 710,118 | 710,118 | 853,294 | |
Unpaid principal balance with no specific allowance recorded | 784,896 | 784,896 | 892,495 | |
Average recorded investment with no specific allowance recorded | 712,793 | 621,354 | 628,555 | |
Interest income recognized with no specific allowance recorded | 1,013 | 1,161 | ||
Interest income recognized for cash payments received with no specific allowance recorded | 1,013 | 1,161 | ||
Recorded investment with specific allowance recorded | 688,497 | 688,497 | 807,886 | |
Unpaid principal balance with specific allowance recorded | 688,497 | 688,497 | 882,018 | |
Related allowance | 266,217 | 266,217 | 289,112 | |
Average recorded investment with specific allowance recorded | 624,641 | 919,271 | 604,450 | |
Consumer Portfolio Segment [Member] | ||||
Interest income recognized with specific allowance recorded | 1,468 | |||
Interest income recognized for cash payments received with specific allowance recorded | 1,468 | |||
Average recorded investment | 207,918 | 447,949 | 173,975 | |
Interest income recognized | 218 | 1,468 | 218 | |
Interest income recognized for cash payments received | 218 | 1,468 | 218 | |
Recorded investment | 240,108 | 240,108 | 106,090 | |
Unpaid principal balance | 240,109 | 240,109 | 106,090 | |
Interest income recognized with no specific allowance recorded | 218 | 218 | ||
Interest income recognized for cash payments received with no specific allowance recorded | 218 | 218 | ||
Recorded investment with no specific allowance recorded | 189,018 | 189,018 | 55,734 | |
Unpaid principal balance with no specific allowance recorded | 189,019 | 189,019 | 55,734 | |
Average recorded investment with no specific allowance recorded | 173,585 | 229,207 | 144,838 | |
Interest income recognized with no specific allowance recorded | 218 | 218 | ||
Interest income recognized for cash payments received with no specific allowance recorded | 218 | 218 | ||
Recorded investment with specific allowance recorded | 51,090 | 51,090 | 50,356 | |
Unpaid principal balance with specific allowance recorded | 51,090 | 51,090 | 50,356 | |
Related allowance | 20,365 | 20,365 | $ 39,481 | |
Average recorded investment with specific allowance recorded | $ 34,333 | $ 218,742 | $ 29,137 |
Note 3 - Loans Leases Receiva39
Note 3 - Loans Leases Receivable - Loans by Internally Assigned Risk Rating (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Loans | $ 2,545,699,171 | $ 2,397,414,282 |
Commercial Portfolio Segment [Member] | ||
Loans | 942,538,419 | 827,637,263 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 904,511,211 | 796,568,451 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 10,814,298 | 6,305,772 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 27,212,910 | 24,763,040 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 1,131,906,123 | 1,093,458,860 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 317,225,055 | 332,387,621 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 179,316,027 | 165,149,491 |
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 635,365,041 | 595,921,748 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 301,874,401 | 314,447,662 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Loans | 172,442,816 | 158,108,465 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 622,588,629 | 582,854,048 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 10,448,915 | 7,559,380 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||
Loans | 1,780,000 | 1,780,000 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 4,693,909 | 4,437,122 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 4,901,739 | 10,380,369 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Loans | 5,093,211 | 5,261,026 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 8,082,503 | 8,630,578 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | 210 | |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||
Loans | ||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||
Loans | ||
Commercial and Commercial Real Estate Portfolio Segments [Member] | ||
Loans | $ 2,074,444,542 | $ 1,921,096,123 |
As a % of Total | 100.00% | 100.00% |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Pass [Member] | ||
Loans | $ 2,001,417,057 | $ 1,851,978,626 |
As a % of Total | 96.48% | 96.40% |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Special Mention [Member] | ||
Loans | $ 27,737,122 | $ 20,082,274 |
As a % of Total | 1.34% | 1.05% |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Substandard [Member] | ||
Loans | $ 45,290,363 | $ 49,035,013 |
As a % of Total | 2.18% | 2.55% |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Doubtful [Member] | ||
Loans | $ 210 | |
As a % of Total | 0.00% | 0.00% |
Note 3 - Loans Leases Receiva40
Note 3 - Loans Leases Receivable - Leases By Delinquency Status (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | |
Loans | $ 2,545,699,171 | $ 2,397,414,282 | |
Nonperforming Financial Instruments [Member] | |||
Loans | 20,556,528 | 21,232,408 | |
Finance Leases Portfolio Segment [Member] | |||
Loans | [1],[2] | 153,336,548 | 165,419,360 |
Finance Leases Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | [2] | 149,599,768 | 161,749,710 |
Finance Leases Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | [2] | 3,736,780 | 3,669,650 |
Residential Portfolio Segment [Member] | |||
Loans | [2],[3] | 233,870,678 | 229,233,104 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | [2] | 232,214,292 | 227,277,070 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | [2] | 1,656,386 | 1,956,034 |
Consumer Portfolio Segment [Member] | |||
Loans | [2] | 84,047,403 | 81,665,695 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | [2] | 83,686,932 | 81,449,104 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | [2] | 360,471 | 216,591 |
Lease Residential and Consumer Portfolio Segments [Member] | |||
Loans | [2] | $ 471,254,629 | $ 476,318,159 |
As a % of Total | [2] | 100.00% | 100.00% |
Lease Residential and Consumer Portfolio Segments [Member] | Performing Financial Instruments [Member] | |||
Loans | [2] | $ 465,500,992 | $ 470,475,884 |
As a % of Total | [2] | 98.78% | 98.77% |
Lease Residential and Consumer Portfolio Segments [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | [2] | $ 5,753,637 | $ 5,842,275 |
As a % of Total | [2] | 1.22% | 1.23% |
[1] | Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management's expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values for the three and six months ended June 30, 2017 and 2016. | ||
[2] | Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing TDRs. | ||
[3] | Includes residential real estate loans held for sale totaling $705,800 and $1,135,500 as of June 30, 2017, and December 31, 2016, respectively. |
Note 3 - Loans Leases Receiva41
Note 3 - Loans Leases Receivable - Troubled Debt Restructurings (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | |
Pre-Modification Recorded Investment | $ 948,170 | $ 1,842,858 | $ 1,757,983 | $ 2,299,450 |
Post-Modification Recorded Investment | 948,170 | 1,842,858 | 1,757,983 | 2,299,450 |
Specific Allowance | ||||
Number of Loans / Leases | 17 | 7 | 28 | 12 |
Extended Maturity [Member] | ||||
Pre-Modification Recorded Investment | $ 98,119 | $ 52,286 | $ 104,382 | $ 462,939 |
Post-Modification Recorded Investment | 98,119 | 52,286 | 104,382 | 462,939 |
Specific Allowance | ||||
Number of Loans / Leases | 1 | 1 | 2 | 5 |
Payment Deferral [Member] | ||||
Pre-Modification Recorded Investment | $ 850,051 | $ 556,832 | $ 1,653,601 | $ 602,771 |
Post-Modification Recorded Investment | 850,051 | 556,832 | 1,653,601 | 602,771 |
Specific Allowance | ||||
Number of Loans / Leases | 16 | 5 | 26 | 6 |
Interest Rate Below Market Reduction [Member] | ||||
Pre-Modification Recorded Investment | $ 1,233,740 | $ 1,233,740 | ||
Post-Modification Recorded Investment | 1,233,740 | 1,233,740 | ||
Specific Allowance | ||||
Number of Loans / Leases | 1 | 1 | ||
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Pre-Modification Recorded Investment | $ 52,286 | $ 52,286 | ||
Post-Modification Recorded Investment | 52,286 | 52,286 | ||
Specific Allowance | ||||
Number of Loans / Leases | 1 | 1 | ||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Pre-Modification Recorded Investment | $ 47,509 | $ 62,140 | $ 181,198 | $ 62,140 |
Post-Modification Recorded Investment | 47,509 | 62,140 | 181,198 | 62,140 |
Specific Allowance | ||||
Number of Loans / Leases | 1 | 1 | 3 | 1 |
Commercial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | ||||
Pre-Modification Recorded Investment | $ 1,233,740 | $ 1,233,740 | ||
Post-Modification Recorded Investment | 1,233,740 | 1,233,740 | ||
Specific Allowance | ||||
Number of Loans / Leases | 1 | 1 | ||
Finance Leases Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Pre-Modification Recorded Investment | $ 98,119 | $ 104,382 | $ 410,653 | |
Post-Modification Recorded Investment | 98,119 | 104,382 | 410,653 | |
Specific Allowance | ||||
Number of Loans / Leases | 1 | 2 | 4 | |
Finance Leases Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Pre-Modification Recorded Investment | $ 802,542 | $ 494,692 | $ 1,472,403 | $ 540,631 |
Post-Modification Recorded Investment | 802,542 | 494,692 | 1,472,403 | 540,631 |
Specific Allowance | ||||
Number of Loans / Leases | 15 | 4 | 23 | 5 |
Note 4 - Earnings Per Share - B
Note 4 - Earnings Per Share - Basic and Diluted (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 8,766,017 | $ 9,184,965 | $ 6,676,467 | $ 6,373,489 | $ 17,950,982 | $ 13,049,956 |
Basic earnings (loss) per common share (in dollars per share) (in dollars per share) | $ 0.67 | $ 0.54 | $ 1.36 | $ 1.08 | ||
Diluted earnings (loss) per common share (in dollars per share) (in dollars per share) | $ 0.65 | $ 0.53 | $ 1.33 | $ 1.07 | ||
Weighted average common shares outstanding (in shares) | 13,170,283 | 12,335,077 | 13,151,833 | 12,064,349 | ||
Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan (in shares) | 346,309 | 181,397 | 350,672 | 170,863 | ||
Weighted average common and common equivalent shares outstanding (in shares) | 13,516,592 | 12,516,474 | 13,502,505 | 12,235,212 |
Note 5 - Fair Value - Assets Me
Note 5 - Fair Value - Assets Measured At Fair Value On a Recurring and Nonrecurring Basis (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available for sale, fair value | $ 269,281,713 | $ 251,113,139 |
Impaired loans or leases | 17,348,281 | 18,788,073 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans or leases | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans or leases | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans or leases | 17,348,281 | 18,788,073 |
Fair Value, Measurements, Recurring [Member] | ||
Liabilities Fair Value | 2,547,466 | 2,338,281 |
Assets Fair Value | 272,228,152 | 254,027,947 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 398,973 | 576,527 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 2,547,466 | 2,338,281 |
Interest rate swaps - liabilities | 2,547,466 | 2,338,281 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Liabilities Fair Value | ||
Assets Fair Value | 1,050 | 1,361 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | ||
Interest rate swaps - liabilities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Liabilities Fair Value | 2,547,466 | 2,338,281 |
Assets Fair Value | 272,227,102 | 254,026,586 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 398,973 | 576,527 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 2,547,466 | 2,338,281 |
Interest rate swaps - liabilities | 2,547,466 | 2,338,281 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Liabilities Fair Value | ||
Assets Fair Value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | ||
Interest rate swaps - liabilities | ||
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, fair value | 41,944,464 | 46,083,607 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 41,944,464 | 46,083,607 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, fair value | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, fair value | 41,944,464 | 46,083,607 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, fair value | ||
Residential Mortgage Backed Securities [Member] | ||
Securities available for sale, fair value | 164,414,833 | 147,702,127 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 164,414,833 | 147,702,127 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, fair value | ||
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, fair value | 164,414,833 | 147,702,127 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, fair value | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, fair value | 58,100,510 | 52,604,426 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 58,100,510 | 52,604,426 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, fair value | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, fair value | 58,100,510 | 52,604,426 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, fair value | ||
Other Securities [Member] | ||
Securities available for sale, fair value | 4,821,906 | 4,722,979 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 4,821,906 | 4,722,979 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, fair value | 1,050 | 1,361 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, fair value | 4,820,856 | 4,721,618 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, fair value | ||
Impaired Loans Leases [Member] | ||
Impaired loans or leases | 11,760,878 | 12,823,121 |
Impaired Loans Leases [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans or leases | ||
Impaired Loans Leases [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans or leases | ||
Impaired Loans Leases [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans or leases | 11,760,878 | 12,823,121 |
Other Real Estate Owned [Member] | ||
Impaired loans or leases | 5,587,403 | 5,964,952 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans or leases | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans or leases | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans or leases | $ 5,587,403 | $ 5,964,952 |
Note 5 - Fair Value - Quantitat
Note 5 - Fair Value - Quantitative Information About Level Fair Value Measurements (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Fair value | $ 17,348,281 | $ 18,788,073 |
Impaired Loans Leases [Member] | ||
Fair value | $ 11,760,878 | 12,823,121 |
Valuation technique | Appraisal of collateral | |
Impaired Loans Leases [Member] | Minimum [Member] | ||
Appraisal adjustments | (10.00%) | |
Impaired Loans Leases [Member] | Maximum [Member] | ||
Appraisal adjustments | (50.00%) | |
Other Securities [Member] | ||
Fair value | $ 5,587,403 | $ 5,964,952 |
Valuation technique | Appraisal of collateral | |
Other Securities [Member] | Minimum [Member] | ||
Appraisal adjustments | 0.00% | |
Other Securities [Member] | Maximum [Member] | ||
Appraisal adjustments | (35.00%) |
Note 5 - Fair Value - Carrying
Note 5 - Fair Value - Carrying Values and Estimated Fair Values of Financial Assets and Liabilities (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
$ 322,989,377 | $ 320,414,899 | |
Securities available for sale, fair value | 269,281,713 | 251,113,139 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and due from banks | 77,161,353 | 70,569,993 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 77,161,353 | 70,569,993 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Federal funds sold | 19,183,000 | 22,257,000 |
324,203,634 | 322,909,056 | |
Securities available for sale, fair value | 269,281,713 | 251,113,139 |
Loans/leases receivable, net | 2,509,319,274 | 2,362,856,277 |
Short-term borrowings | 18,217,393 | 39,971,387 |
FHLB advances | 106,500,000 | 137,500,000 |
Other borrowings | 72,000,000 | 80,000,000 |
Junior subordinated debentures | 33,546,425 | 33,480,202 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Non-maturity Deposits [Member] | ||
Deposits | 2,311,779,642 | 2,188,683,349 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 558,454,597 | 480,577,924 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 398,973 | 576,527 |
Interest rate swaps - assets | 398,973 | 576,527 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 2,547,466 | 2,338,281 |
Interest rate swaps - assets | 2,547,466 | 2,338,281 |
Interest rate swaps - liabilities | 2,547,466 | 2,338,281 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Interest-bearing Deposits [Member] | ||
Interest-bearing deposits at financial institutions | 53,171,325 | 63,948,925 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Federal funds sold | 19,183,000 | 22,257,000 |
322,989,377 | 320,414,899 | |
Securities available for sale, fair value | 269,281,713 | 251,113,139 |
Loans/leases receivable, net | 2,491,370,000 | 2,344,462,740 |
Short-term borrowings | 18,217,393 | 39,971,387 |
FHLB advances | 107,071,000 | 138,338,000 |
Other borrowings | 73,041,000 | 81,282,000 |
Junior subordinated debentures | 25,169,023 | 24,881,494 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Non-maturity Deposits [Member] | ||
Deposits | 2,311,779,642 | 2,188,683,349 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 557,833,000 | 479,605,000 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 398,973 | 576,527 |
Interest rate swaps - assets | 398,973 | 576,527 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 2,547,466 | 2,338,281 |
Interest rate swaps - assets | 2,547,466 | 2,338,281 |
Interest rate swaps - liabilities | 2,547,466 | 2,338,281 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest-bearing Deposits [Member] | ||
Interest-bearing deposits at financial institutions | 53,171,325 | 63,948,925 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Loans/leases receivable, net | 10,889,702 | 11,873,260 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans/leases receivable, net | $ 11,760,878 | $ 12,823,121 |
Note 6 - Business Segment Inf46
Note 6 - Business Segment Information (Details Textual) | Jun. 30, 2017 |
Number of Subsidiaries | 4 |
Note 6 - Business Segment Inf47
Note 6 - Business Segment Information - Selected Financial Information on the Company's Business Segments (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Total assets | $ 3,457,186,695 | $ 2,683,434,288 | $ 3,457,186,695 | $ 2,683,434,288 | $ 3,301,943,748 |
Total revenue | 39,235,786 | 30,675,685 | 77,864,639 | 61,000,217 | |
Net interest income | 28,046,697 | 21,008,813 | 55,715,580 | 41,606,335 | |
Provision for loan/lease losses | 2,022,993 | 1,197,850 | 4,128,102 | 3,270,835 | |
Net income (loss) | 8,766,017 | 6,676,467 | 17,950,982 | 13,049,956 | |
Goodwill | 13,110,913 | 3,222,688 | 13,110,913 | 3,222,688 | 13,110,913 |
Core deposit intangible | 6,919,480 | 1,371,653 | 6,919,480 | 1,371,653 | $ 7,381,213 |
Operating Segments [Member] | Commercial Banking Segment [Member] | Quad City Bank and Trust Company [Member] | |||||
Total assets | 1,400,307,827 | 1,390,025,232 | 1,400,307,827 | 1,390,025,232 | |
Total revenue | 14,210,040 | 14,162,914 | 27,745,981 | 27,679,846 | |
Net interest income | 11,414,818 | 11,207,759 | 22,716,300 | 22,169,206 | |
Provision for loan/lease losses | 552,993 | 747,850 | 1,484,102 | 1,970,835 | |
Net income (loss) | 4,073,777 | 3,898,343 | 7,728,783 | 6,730,039 | |
Goodwill | 3,222,688 | 3,222,688 | 3,222,688 | 3,222,688 | |
Core deposit intangible | |||||
Operating Segments [Member] | Commercial Banking Segment [Member] | Cedar Rapids Bank and Trust [Member] | |||||
Total assets | 993,768,912 | 904,367,275 | 993,768,912 | 904,367,275 | |
Total revenue | 10,149,769 | 10,438,092 | 20,536,314 | 21,277,313 | |
Net interest income | 7,230,425 | 7,135,725 | 14,204,472 | 14,160,713 | |
Provision for loan/lease losses | 300,000 | 150,000 | 550,000 | 700,000 | |
Net income (loss) | 2,870,582 | 3,144,986 | 5,763,142 | 6,079,717 | |
Goodwill | |||||
Core deposit intangible | 1,172,141 | 1,371,653 | 1,172,141 | 1,371,653 | |
Operating Segments [Member] | Commercial Banking Segment [Member] | Community State Bank [Member] | |||||
Total assets | 642,761,140 | 642,761,140 | |||
Total revenue | 8,171,307 | 16,303,013 | |||
Net interest income | 6,920,820 | 13,947,328 | |||
Provision for loan/lease losses | 861,000 | 1,635,000 | |||
Net income (loss) | 1,920,040 | 3,815,174 | |||
Goodwill | 9,888,225 | 9,888,225 | |||
Core deposit intangible | 5,747,339 | 5,747,339 | |||
Operating Segments [Member] | Commercial Banking Segment [Member] | Rockford Bank and Trust [Member] | |||||
Total assets | 426,159,677 | 402,157,473 | 426,159,677 | 402,157,473 | |
Total revenue | 4,241,431 | 3,918,629 | 8,189,230 | 7,712,876 | |
Net interest income | 3,095,512 | 2,945,417 | 6,063,586 | 5,857,391 | |
Provision for loan/lease losses | 309,000 | 300,000 | 459,000 | 600,000 | |
Net income (loss) | 834,842 | 772,169 | 1,679,411 | 1,389,954 | |
Goodwill | |||||
Core deposit intangible | |||||
Operating Segments [Member] | Wealth Management Segment [Member] | |||||
Total assets | |||||
Total revenue | 2,560,836 | 2,204,821 | 5,262,642 | 4,439,113 | |
Net interest income | |||||
Provision for loan/lease losses | |||||
Net income (loss) | 454,465 | 386,202 | 1,015,527 | 833,972 | |
Goodwill | |||||
Core deposit intangible | |||||
Operating Segments [Member] | Other Segments [Member] | |||||
Total assets | 382,407,292 | 328,099,700 | 382,407,292 | 328,099,700 | |
Total revenue | 10,181,814 | 8,244,495 | 20,057,957 | 15,104,270 | |
Net interest income | (614,878) | (280,088) | (1,216,106) | (580,975) | |
Provision for loan/lease losses | |||||
Net income (loss) | 8,766,014 | 6,676,467 | 17,950,982 | 13,049,955 | |
Goodwill | |||||
Core deposit intangible | |||||
Intersegment Eliminations [Member] | |||||
Total assets | (388,218,153) | (341,215,392) | (388,218,153) | (341,215,392) | |
Total revenue | (10,279,411) | (8,293,266) | (20,230,498) | (15,213,201) | |
Net interest income | |||||
Provision for loan/lease losses | |||||
Net income (loss) | (10,153,703) | (8,201,700) | (20,002,037) | (15,033,681) | |
Goodwill | |||||
Core deposit intangible |
Note 7 - Regulatory Capital R48
Note 7 - Regulatory Capital Requirements (Details Textual) | 6 Months Ended |
Jun. 30, 2017 | |
Annual Phase in Percentage Of Capital Conservation Buffer | 0.625% |
Capital Required for Capital Adequacy to Risk Weighted Assets with Capital Conservation Buffer Fully Phased in | 10.50% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets with Capital Conservation Buffer Fully Phased in | 8.50% |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets with Capital Conservation Buffer Fully Phased in | 7.00% |
Note 7 - Regulatory Capital R49
Note 7 - Regulatory Capital Requirements and Restrictions on Dividends - Capital Requirements (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 281,774 | $ 266,419 | |
Common equity Tier 1, actual ratio | 9.46% | 9.41% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 134,101 | $ 127,455 |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.50% | 4.50% |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 171,352 | $ 145,157 |
Common equity Tier 1 for capital adequacy purposes, ratio | [1] | 5.75% | 5.125% |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, amount | $ 193,702 | $ 184,102 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Total risk-based capital, actual, amount | $ 347,033 | $ 327,440 | |
Total risk-based capital, actual, ratio | 11.65% | 11.56% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | [1] | $ 238,402 | $ 226,587 |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | [1] | 8.00% | 8.00% |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 275,652 | $ 244,289 |
Total risk-based capital for capital adquacy purposes, ratio | [1] | 9.25% | 8.625% |
Total risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 298,003 | $ 283,233 | |
Total risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% | |
Tier 1 risk-based capital, actual, amount | $ 313,333 | $ 296,366 | |
Tier 1 risk-based capital, actual, ratio | 10.51% | 10.46% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 178,802 | $ 169,940 |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 216,052 | $ 187,642 |
Tier 1 risk-based capital for capital adequacy purposes, ratio | [1] | 7.25% | 6.625% |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 238,402 | $ 226,587 | |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 8.00% | 8.00% | |
Tier 1 leverage, actual, amount | $ 313,333 | $ 296,366 | |
Tier 1 leverage, actual, ratio | 9.34% | 9.10% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 134,142 | $ 130,229 |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.00% | 4.00% |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 134,142 | $ 130,229 |
Tier 1 leverage for capital adequacy purposes, ratio | [1] | 4.00% | 4.00% |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, amount | $ 167,677 | $ 162,787 | |
Quad City Bank and Trust Company [Member] | |||
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 135,628 | $ 129,524 | |
Common equity Tier 1, actual ratio | 11.46% | 11.12% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 53,278 | $ 52,432 |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.50% | 4.50% |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 68,078 | $ 59,714 |
Common equity Tier 1 for capital adequacy purposes, ratio | [1] | 5.75% | 5.125% |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, amount | $ 76,957 | $ 75,735 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Total risk-based capital, actual, amount | $ 149,008 | $ 142,990 | |
Total risk-based capital, actual, ratio | 12.59% | 12.27% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | [1] | $ 94,717 | $ 93,212 |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | [1] | 8.00% | 8.00% |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 109,516 | $ 100,494 |
Total risk-based capital for capital adquacy purposes, ratio | [1] | 9.25% | 8.625% |
Total risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 118,396 | $ 116,515 | |
Total risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% | |
Tier 1 risk-based capital, actual, amount | $ 135,628 | $ 129,524 | |
Tier 1 risk-based capital, actual, ratio | 11.46% | 11.12% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 71,038 | $ 69,909 |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 85,837 | $ 77,191 |
Tier 1 risk-based capital for capital adequacy purposes, ratio | [1] | 7.25% | 6.625% |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 94,717 | $ 93,212 | |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 8.00% | 8.00% | |
Tier 1 leverage, actual, amount | $ 135,628 | $ 129,524 | |
Tier 1 leverage, actual, ratio | 9.56% | 9.18% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 56,719 | $ 56,445 |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.00% | 4.00% |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 56,719 | $ 56,445 |
Tier 1 leverage for capital adequacy purposes, ratio | [1] | 4.00% | 4.00% |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, amount | $ 70,898 | $ 70,556 | |
Cedar Rapids Bank and Trust [Member] | |||
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 99,216 | $ 96,369 | |
Common equity Tier 1, actual ratio | 10.94% | 11.57% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 40,825 | $ 37,476 |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.50% | 4.50% |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 52,165 | $ 42,681 |
Common equity Tier 1 for capital adequacy purposes, ratio | [1] | 5.75% | 5.125% |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, amount | $ 58,969 | $ 54,132 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Total risk-based capital, actual, amount | $ 110,561 | $ 106,791 | |
Total risk-based capital, actual, ratio | 12.19% | 12.82% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | [1] | $ 72,578 | $ 66,623 |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | [1] | 8.00% | 8.00% |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 83,918 | $ 71,828 |
Total risk-based capital for capital adquacy purposes, ratio | [1] | 9.25% | 8.625% |
Total risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 90,722 | $ 83,279 | |
Total risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% | |
Tier 1 risk-based capital, actual, amount | $ 99,216 | $ 96,369 | |
Tier 1 risk-based capital, actual, ratio | 10.94% | 11.57% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 54,434 | $ 49,968 |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 65,774 | $ 55,173 |
Tier 1 risk-based capital for capital adequacy purposes, ratio | [1] | 7.25% | 6.625% |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 72,578 | $ 66,623 | |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 8.00% | 8.00% | |
Tier 1 leverage, actual, amount | $ 99,216 | $ 96,369 | |
Tier 1 leverage, actual, ratio | 10.43% | 10.69% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 38,044 | $ 36,061 |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.00% | 4.00% |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 38,044 | $ 36,061 |
Tier 1 leverage for capital adequacy purposes, ratio | [1] | 4.00% | 4.00% |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, amount | $ 47,555 | $ 45,076 | |
Community State Bank [Member] | |||
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 66,089 | $ 66,746 | |
Common equity Tier 1, actual ratio | 12.72% | 13.51% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 23,387 | $ 22,231 |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.50% | 4.50% |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 29,884 | $ 25,319 |
Common equity Tier 1 for capital adequacy purposes, ratio | [1] | 5.75% | 5.125% |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, amount | $ 33,782 | $ 32,111 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Total risk-based capital, actual, amount | $ 69,222 | $ 68,216 | |
Total risk-based capital, actual, ratio | 13.32% | 13.81% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | [1] | $ 41,577 | $ 39,521 |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | [1] | 8.00% | 8.00% |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 48,074 | $ 42,609 |
Total risk-based capital for capital adquacy purposes, ratio | [1] | 9.25% | 8.625% |
Total risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 51,972 | $ 49,402 | |
Total risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% | |
Tier 1 risk-based capital, actual, amount | $ 66,089 | $ 66,746 | |
Tier 1 risk-based capital, actual, ratio | 12.72% | 13.51% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 31,183 | $ 29,641 |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 37,679 | $ 32,729 |
Tier 1 risk-based capital for capital adequacy purposes, ratio | [1] | 7.25% | 6.625% |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 41,577 | $ 39,522 | |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 8.00% | 8.00% | |
Tier 1 leverage, actual, amount | $ 66,089 | $ 66,746 | |
Tier 1 leverage, actual, ratio | 10.91% | 11.75% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 24,231 | $ 22,726 |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.00% | 4.00% |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 24,231 | $ 22,726 |
Tier 1 leverage for capital adequacy purposes, ratio | [1] | 4.00% | 4.00% |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, amount | $ 30,289 | $ 28,408 | |
Rockford Bank and Trust [Member] | |||
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 39,384 | $ 37,716 | |
Common equity Tier 1, actual ratio | 10.53% | 11.01% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 16,831 | $ 15,418 |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.50% | 4.50% |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 21,507 | $ 17,559 |
Common equity Tier 1 for capital adequacy purposes, ratio | [1] | 5.75% | 5.125% |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, amount | $ 24,312 | $ 22,270 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Total risk-based capital, actual, amount | $ 44,068 | $ 42,007 | |
Total risk-based capital, actual, ratio | 11.78% | 12.26% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | [1] | $ 29,922 | $ 27,410 |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | [1] | 8.00% | 8.00% |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 34,598 | $ 29,551 |
Total risk-based capital for capital adquacy purposes, ratio | [1] | 9.25% | 8.625% |
Total risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 37,403 | $ 34,262 | |
Total risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% | |
Tier 1 risk-based capital, actual, amount | $ 39,384 | $ 37,716 | |
Tier 1 risk-based capital, actual, ratio | 10.53% | 11.01% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 22,442 | $ 20,558 |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 27,117 | $ 22,699 |
Tier 1 risk-based capital for capital adequacy purposes, ratio | [1] | 7.25% | 6.625% |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, amount | $ 29,922 | $ 27,410 | |
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, ratio | 8.00% | 8.00% | |
Tier 1 leverage, actual, amount | $ 39,384 | $ 37,716 | |
Tier 1 leverage, actual, ratio | 9.63% | 9.57% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | [1] | $ 16,354 | $ 15,772 |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | [1] | 4.00% | 4.00% |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 16,354 | $ 15,772 |
Tier 1 leverage for capital adequacy purposes, ratio | [1] | 4.00% | 4.00% |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, amount | $ 20,442 | $ 19,716 | |
[1] | The minimums under Basel III increase by .625% (the capital conservation buffer) annually until 2019. The fully phased-in minimums are 10.5% (Total risk-based capital), 8.5% (Tier 1 risk-based capital), and 7.0% (Common equity Tier 1). |
Note 8 - Acquisition of Guara50
Note 8 - Acquisition of Guaranty Bank and Trust Company (Details Textual) | Jul. 27, 2017shares | Jun. 08, 2017USD ($)$ / shares | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) |
Assets | $ 3,457,186,695 | $ 3,301,943,748 | $ 2,683,434,288 | |||
Deposits | $ 2,870,234,239 | $ 2,669,261,273 | ||||
Share Price | $ / shares | $ 46.05 | |||||
Term Note [Member] | ||||||
Debt Instrument, Term | 4 years | |||||
Debt Instrument, Interest Rate, Effective Percentage | 4.16% | |||||
Term Note [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | |||||
Scenario, Forecast [Member] | Term Note [Member] | ||||||
Proceeds from Issuance of Long-term Debt | $ 7,000,000 | |||||
Guaranty Bank and Trust Company [Member] | Subsequent Event [Member] | ||||||
Stock Offering, Number of Shares | shares | 881,631 | |||||
Community State Bank [Member] | ||||||
Business Combination, Valuation Input, Acquired Company's Adjusted Tangible Equity | $ 24,286,985 | |||||
Business Combination, Valuation Input | 1.53 | |||||
Community State Bank [Member] | Scenario, Forecast [Member] | ||||||
Business Combination, Consideration Transferred | 37,200,000 | |||||
Payments to Acquire Businesses, Gross | $ 7,800,000 | |||||
Stock Issued During Period, Shares, Acquisitions | shares | 638,400 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 29,400,000 | |||||
Guaranty Bank and Trust Company [Member] | ||||||
Number of Branches | 5 | |||||
Assets | $ 264,000,000 | |||||
Deposits | $ 212,000,000 |