Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 28, 2018 | Jun. 30, 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) | 13,931,628 | ||
Entity Public Float | $ 586,207,934 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash and due from banks | $ 75,721,663 | $ 70,569,993 | |
Federal funds sold | 30,197,000 | 22,257,000 | |
Interest-bearing deposits at financial institutions | 55,765,012 | 63,948,925 | |
Securities held to maturity, at amortized cost | 379,474,205 | 322,909,056 | |
Securities available for sale, at fair value | 272,907,907 | 251,113,139 | |
Total securities | 652,382,112 | 574,022,195 | |
Loans receivable, held for sale | 645,001 | 1,135,500 | |
Loans/leases receivable, held for investment | 2,963,840,399 | 2,404,351,485 | |
Gross loans/leases receivable | 2,964,485,400 | 2,405,486,985 | |
Less allowance for estimated losses on loans/leases | (34,355,728) | (30,757,448) | |
Net loans/leases receivable | [1] | 2,930,129,672 | 2,374,729,537 |
Bank-owned life insurance | 59,059,494 | 57,257,051 | |
Premises and equipment, net | 62,838,255 | 60,643,508 | |
Restricted investment securities, at cost | 19,782,525 | 14,997,025 | |
Other real estate owned, net | 13,558,308 | 5,523,104 | |
Goodwill | 28,334,092 | 13,110,913 | |
Core deposit intangible | 9,078,953 | 7,381,213 | |
Other assets | 45,817,687 | 37,503,284 | |
Total assets | 3,982,664,773 | 3,301,943,748 | |
Liabilities and Stockholders' Equity | |||
Noninterest-bearing | 789,547,696 | 797,415,090 | |
Interest-bearing | 2,477,107,360 | 1,871,846,183 | |
Total deposits | 3,266,655,056 | 2,669,261,273 | |
Short-term borrowings | 13,993,122 | 39,971,387 | |
Federal Home Loan Bank advances | 192,000,000 | 137,500,000 | |
Other borrowings | 66,000,000 | 80,000,000 | |
Junior subordinated debentures, net | 37,486,487 | 33,480,202 | |
Other liabilities | 53,242,979 | 55,690,087 | |
Total liabilities | 3,629,377,644 | 3,015,902,949 | |
Commitments and Contingencies | |||
Stockholders' Equity: | |||
Preferred stock, $1 par value; shares authorized 250,000 December 2017 and 2016 - No shares issued or outstanding | |||
Common stock, $1 par value; shares authorized 20,000,000 December 2017 - 13,918,168 shares issued and outstanding December 2016 - 13,106,845 shares issued and outstanding | 13,918,168 | 13,106,845 | |
Additional paid-in capital | 189,077,550 | 156,776,642 | |
Retained earnings | 151,962,661 | 118,616,901 | |
Accumulated other comprehensive loss: | |||
Securities available for sale | (866,223) | (1,527,433) | |
Interest rate cap derivatives | (805,027) | (932,156) | |
Total stockholders' equity | 353,287,129 | 286,040,799 | |
Total liabilities and stockholders' equity | $ 3,982,664,773 | $ 3,301,943,748 | |
[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 nine months ended September 30, 2017 and 2016. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, authorized (in shares) | 250,000 | 250,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 13,918,168 | 13,106,845 |
Common stock, outstanding (in shares) | 13,918,168 | 13,106,845 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Interest and dividend income: | ||||
Loans/leases, including fees | $ 117,465,275 | $ 91,235,049 | $ 74,615,499 | |
Securities: | ||||
Taxable | 5,144,336 | 4,585,300 | 6,772,244 | |
Nontaxable | 11,253,351 | 9,686,844 | 7,782,370 | |
Interest-bearing deposits at financial institutions | 873,988 | 393,048 | 304,602 | |
Restricted investment securities | 631,049 | 522,047 | 503,764 | |
Federal funds sold | 149,319 | 45,447 | 24,774 | |
Total interest and dividend income | 135,517,318 | 106,467,735 | 90,003,253 | |
Interest expense: | ||||
Deposits | 13,011,906 | 6,018,366 | 4,495,538 | |
Short-term borrowings | 113,981 | 93,934 | 210,306 | |
Federal Home Loan Bank advances | 1,981,593 | 1,284,212 | 3,511,541 | |
Other borrowings | 2,878,879 | 3,317,513 | 4,233,193 | |
Junior subordinated debentures | 1,465,678 | 1,236,933 | 1,255,951 | |
Total interest expense | 19,452,037 | 11,950,958 | 13,706,529 | |
Net interest income | 116,065,281 | 94,516,777 | 76,296,724 | |
Provision for loan/lease losses | 8,469,919 | 7,478,166 | 6,870,900 | |
Net interest income after provision for loan/lease losses | 107,595,362 | 87,038,611 | 69,425,824 | |
Noninterest income: | ||||
Trust department fees | 7,187,820 | 6,164,137 | 6,131,209 | |
Investment advisory and management fees | 3,869,699 | 2,992,811 | 2,971,964 | |
Deposit service fees | 5,919,317 | 4,439,455 | 3,784,935 | |
Gains on sales of residential real estate loans, net | 408,655 | 431,313 | 322,872 | |
Gains on sales of government guaranteed portions of loans, net | 1,163,741 | 3,159,073 | 1,304,575 | |
Swap fee income | 3,094,939 | 1,708,204 | 1,717,552 | |
Securities gains (losses), net | (87,885) | 4,592,398 | 798,983 | |
Earnings on bank-owned life insurance | 1,802,443 | 1,771,396 | 1,762,107 | |
Debit card fees | 2,941,703 | 1,814,488 | 1,244,912 | |
Correspondent banking fees | 915,647 | 1,050,142 | 1,190,411 | |
Other | 3,266,213 | 2,913,458 | 3,133,801 | |
Total noninterest income | 30,482,292 | 31,036,875 | 24,363,321 | |
Noninterest expenses: | ||||
Salaries and employee benefits | 55,722,288 | 46,317,060 | 42,967,915 | |
Occupancy and equipment expense | 10,938,037 | 8,404,605 | 7,042,706 | |
Professional and data processing fees | 10,757,057 | 7,113,443 | 5,523,447 | |
Acquisition costs | 1,068,918 | 1,400,004 | ||
Post-acquisition compensation, transition and integration costs | 4,309,565 | 1,041,169 | ||
FDIC insurance, other insurance and regulatory fees | 2,752,270 | 2,549,314 | 2,724,968 | |
Loan/lease expense | 1,163,708 | 662,299 | 882,591 | |
Net cost of (income from) operations of other real estate | 1,599 | 591,303 | (1,092,401) | |
Advertising and marketing | 2,624,951 | 2,127,566 | 1,900,539 | |
Bank service charges | 1,770,942 | 1,692,957 | 1,486,265 | |
Losses on debt extinguishment, net | 4,577,668 | 7,185,601 | ||
Correspondent banking expense | 807,077 | 750,646 | 703,495 | |
CDI amortization | 1,000,561 | 442,849 | 199,512 | |
Other | 4,507,724 | 3,815,028 | 3,667,384 | |
Total noninterest expenses | 97,424,697 | 81,485,912 | 73,192,022 | |
Income before income taxes | 40,652,957 | 36,589,574 | 20,597,123 | |
Federal and state income tax expense | 4,946,450 | 8,902,787 | 3,669,242 | |
Net income | $ 35,706,507 | $ 27,686,787 | $ 16,927,881 | |
Basic earnings per common share (in dollars per share) | $ 2.68 | $ 2.20 | $ 1.64 | |
Diluted earnings per common share (in dollars per share) | $ 2.61 | $ 2.17 | $ 1.61 | |
Weighted average common shares outstanding (in shares) | [1] | 13,325,128 | 12,570,767 | 10,345,286 |
Weighted average common and common equivalent shares outstanding (in shares) | 13,680,472 | 12,766,003 | 10,499,841 | |
Cash dividends declared per common share (in dollars per share) | $ 0.20 | $ 0.16 | $ 0.08 | |
[1] | The increase in weighted average common shares outstanding from 2015 to 2016 was primarily due to the common stock issuance that occurred in conjunction with the CSB acquisition. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 35,706,507 | $ 27,686,787 | $ 16,927,881 |
Other comprehensive income (loss): | |||
Unrealized holding gains arising during the period before tax | 1,257,289 | 4,258,154 | 1,144,314 |
Less reclassification adjustment for gains (losses) included in net income before tax | (87,885) | 4,592,398 | 798,983 |
1,345,174 | (334,244) | 345,331 | |
Unrealized holding losses arising during the period before tax | (69,827) | (279,497) | (631,363) |
Less reclassification adjustment for ineffectiveness and caplet amortization before tax | (484,891) | (75,290) | (15,895) |
415,064 | (204,207) | (615,468) | |
Other comprehensive income (loss), before tax | 1,760,238 | (538,451) | (270,137) |
Tax expense (benefit) | 668,085 | (202,691) | (81,524) |
Other comprehensive income (loss), net of tax | 1,092,153 | (335,760) | (188,613) |
Comprehensive income | $ 36,798,660 | $ 27,351,027 | $ 16,739,268 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2014 | $ 8,074,443 | $ 61,668,968 | $ 77,876,824 | $ (1,935,216) | $ (1,606,510) | $ 144,078,509 |
Net income | 16,927,881 | 16,927,881 | ||||
Other comprehensive loss, net of tax | (188,613) | (188,613) | ||||
Common cash dividends declared | (934,682) | (934,682) | ||||
Issuance of shares of common stock, net of issuance costs | 3,680,000 | 59,804,123 | 63,484,123 | |||
Issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan | 24,033 | 375,120 | 399,153 | |||
Issuance of shares of common stock as s result of stock options exercised | 79,638 | 1,091,402 | 1,171,040 | |||
Stock-based compensation expense | 941,469 | 941,469 | ||||
Tax benefit of nonqualified stock options exercised | 93,096 | 93,096 | ||||
Retirement of treasury stock, 121,246 shares of common stock | (121,246) | (580,886) | (904,378) | 1,606,510 | ||
Restricted stock awards - shares of common stock | 28,846 | (28,846) | ||||
Exchange of shares of common stock in connection with stock options exercised and restricted stock vested | (4,631) | (81,595) | (86,226) | |||
Balance at Dec. 31, 2015 | 11,761,083 | 123,282,851 | 92,965,645 | (2,123,829) | 225,885,750 | |
Net income | 27,686,787 | 27,686,787 | ||||
Other comprehensive loss, net of tax | (335,760) | (335,760) | ||||
Common cash dividends declared | (2,035,531) | (2,035,531) | ||||
Issuance of shares of common stock, net of issuance costs | 1,215,000 | 28,613,916 | 29,828,916 | |||
Issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan | 20,192 | 417,336 | 437,528 | |||
Issuance of shares of common stock as s result of stock options exercised | 111,423 | 1,556,823 | 1,668,246 | |||
Stock-based compensation expense | 947,174 | 947,174 | ||||
Tax benefit of nonqualified stock options exercised | 394,149 | 394,149 | ||||
Restricted stock awards - shares of common stock | 21,882 | (21,882) | ||||
Exchange of shares of common stock in connection with stock options exercised and restricted stock vested | (22,735) | (546,140) | (568,875) | |||
Tax basis adjustment related to the acquisition of noncontrolling interest in m2 Lease Funds | 2,132,415 | 2,132,415 | ||||
Balance at Dec. 31, 2016 | 13,106,845 | 156,776,642 | 118,616,901 | (2,459,589) | 286,040,799 | |
Net income | 35,706,507 | 35,706,507 | ||||
Other comprehensive loss, net of tax | 1,092,153 | 1,092,153 | ||||
Common cash dividends declared | (2,664,561) | (2,664,561) | ||||
Issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan | 13,318 | 454,822 | 468,140 | |||
Issuance of shares of common stock as s result of stock options exercised | 114,100 | 1,611,338 | 1,725,438 | |||
Stock-based compensation expense | 1,187,036 | 1,187,036 | ||||
Restricted stock awards - shares of common stock | 28,289 | (28,289) | ||||
Exchange of shares of common stock in connection with stock options exercised and restricted stock vested | (23,054) | (986,743) | (1,009,797) | |||
Reclassification of certain tax effects from accumulated other comprehensive income | 303,814 | (303,814) | ||||
Issuance of 678,670 shares of common stock as a result of the acquisition of Guaranty Bank & Trust, net of issuance cost | 678,670 | 30,062,744 | 30,741,414 | |||
Balance at Dec. 31, 2017 | $ 13,918,168 | $ 189,077,550 | $ 151,962,661 | $ (1,671,250) | $ 353,287,129 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retained Earnings [Member] | |||
Cash dividends declared per common share (in dollars per share) | $ 0.20 | $ 0.16 | $ 0.08 |
Common Stock [Member] | |||
Proceeds from issuance of common stock, net of issuance costs, shares (in shares) | 1,215,000 | 3,680,000 | |
Issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan (in shares) | 13,318 | 20,192 | 24,033 |
Issuance of shares of common stock as s result of stock options exercised (in shares) | 114,100 | 111,423 | 79,638 |
Retirement of treasury stock, shares of common stock (in shares) | 121,246 | ||
Restricted stock awards (in shares) | 28,289 | 21,882 | 28,846 |
Exchange of shares of common stock in connection with stock options exercised and restricted stock vested (in shares) | 23,054 | 22,735 | 4,631 |
Issuance of shares of common stock as a result of the acquisition of Guaranty Bank & Trust, net of issuance cost (in shares) | 678,670 | ||
Cash dividends declared per common share (in dollars per share) | $ 0.20 | $ 0.16 | $ 0.08 |
Issuance of shares of common stock as s result of stock options exercised (in shares) | 114,100 | 111,423 | 79,638 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows | 12 Months Ended | |||||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | ||||
Cash Flows from Operating Activities: | ||||||
Net income | $ 35,706,507 | $ 27,686,787 | $ 16,927,881 | |||
Adjustments to reconcile net income to net cash provided by operating activities | ||||||
Depreciation | 3,948,934 | 3,424,140 | 3,065,031 | |||
Provision for loan/lease losses | 8,469,919 | 7,478,166 | 6,870,900 | |||
Deferred income taxes | (6,029,555) | (3,066,407) | (2,004,532) | |||
Stock-based compensation expense | 1,187,036 | 947,174 | 941,469 | |||
Deferred compensation expense accrued | 1,425,717 | 1,171,406 | 1,023,827 | |||
Losses (gains) on sale of other real estate owned, net | (151,211) | 243,858 | (1,021,242) | |||
Amortization of premiums on securities, net | 1,839,196 | 1,302,962 | 1,040,275 | |||
Securities (gains) losses, net | 87,885 | (4,592,398) | (798,983) | |||
Loans originated for sale | (49,578,773) | (74,329,667) | (38,748,100) | |||
Proceeds on sales of loans | 51,641,668 | 77,850,553 | 40,362,697 | |||
Gains on sales of residential real estate loans, net | (408,655) | (431,313) | (322,872) | |||
Gains on sales of government guaranteed portions of loans, net | (1,163,741) | (3,159,073) | (1,304,575) | |||
Losses on debt extinguishment, net | 4,577,668 | 7,185,601 | ||||
Amortization of core deposit intangible | 1,000,561 | 442,849 | 199,512 | |||
Accretion of acquisition fair value adjustments, net | (5,040,873) | (3,718,160) | (367,009) | |||
Increase in cash value of bank-owned life insurance | (1,802,443) | (1,771,396) | (1,762,107) | |||
(Increase) decrease in other assets | 826,449 | (943,891) | (3,910,486) | |||
Increase (decrease) in other liabilities | (8,245,340) | 10,269,563 | 2,721,335 | |||
Net cash provided by operating activities | 33,713,281 | 43,382,821 | 30,098,622 | |||
Cash Flows from Investing Activities: | ||||||
Net decrease (increase) in federal funds sold | (7,940,000) | (1,709,000) | 26,930,000 | |||
Net decrease (increase) in interest-bearing deposits at financial institutions | 12,137,820 | (12,904,803) | (979,283) | |||
Proceeds from sales of other real estate owned | 1,138,520 | 2,084,696 | 7,696,026 | |||
Activity in securities portfolio: | ||||||
Purchases | (179,785,944) | (179,598,630) | (232,092,732) | |||
Calls, maturities and redemptions | 43,010,478 | 117,876,284 | 211,942,737 | |||
Paydowns | 38,495,801 | 33,169,638 | 15,476,369 | |||
Sales | 71,091,580 | 134,188,737 | 81,410,368 | |||
Activity in restricted investment securities: | ||||||
Purchases | (4,824,000) | (1,098,200) | (3,752,450) | |||
Redemptions | 515,000 | 2,450,000 | 4,476,100 | |||
Net increase in loans/leases originated and held for investment | (375,226,301) | (187,496,180) | (172,786,032) | |||
Purchase of premises and equipment | (5,760,802) | (6,032,416) | (4,394,255) | |||
Net cash paid for acquisitions | (3,368,909) | (69,905,355) | ||||
Net cash used in investing activities | (410,516,757) | (168,975,229) | (66,073,152) | |||
Cash Flows from Financing Activities: | ||||||
Net increase in deposits | 385,082,234 | 302,390,928 | 200,988,645 | |||
Net decrease in short-term borrowings | (39,080,308) | (104,691,329) | (123,688,954) | |||
Activity in Federal Home Loan Bank advances: | ||||||
Term advances | 1,600,000 | 5,000,000 | ||||
Calls and maturities | (8,000,000) | (24,000,000) | (26,000,000) | |||
Net change in short-term and overnight advances | 60,900,000 | 20,500,000 | 47,000,000 | |||
Prepayments | (4,108,027) | (31,008,668) | (84,401,601) | |||
Activity in other borrowings: | ||||||
Proceeds from other borrowings | 7,000,000 | 35,000,000 | ||||
Calls, maturities and scheduled principal payments | (21,000,000) | (7,350,000) | ||||
Prepayments | (69,769,000) | (34,559,000) | ||||
Retirement of junior subordinated debentures | (3,955,000) | (1,762,000) | ||||
Payment of cash dividends on common and preferred stock | (2,494,260) | (1,981,541) | (782,054) | |||
Net cash provided by financing activities | 381,955,146 | 154,420,080 | 39,481,832 | |||
Net increase in cash and due from banks | 5,151,670 | 28,827,672 | 3,507,302 | |||
Cash and due from banks, beginning | 70,569,993 | 41,742,321 | 38,235,019 | |||
Cash and due from banks, ending | 75,721,663 | 70,569,993 | 41,742,321 | |||
Supplemental Disclosures of Cash Flow Information, cash payments for: | ||||||
Interest | 19,053,645 | 11,926,012 | 14,027,512 | |||
Income and franchise taxes | 13,039,516 | 10,758,611 | 2,619,288 | |||
Supplemental Schedule of Noncash Investing and Financing Activities: | ||||||
Change in accumulated other comprehensive income, unrealized gains (losses) on securities available for sale and derivative instruments, net | 1,092,153 | (335,760) | (188,613) | |||
Exchange of shares of common stock in connection with payroll taxes for restricted stock and options exercised | (1,009,797) | (568,875) | (68,706) | |||
Tax benefit of nonqualified stock options exercised | 394,149 | 93,096 | ||||
Transfers of loans to other real estate owned | 9,022,514 | 51,000 | 1,577,060 | |||
Due to broker for purchases of securities | 2,655,492 | |||||
Tax basis adjustment related to the acquisition of noncontrolling interest in m2 Lease Funds | 2,132,415 | |||||
Increase (decrease) in the fair market value of interest rate swap assets and liabilities | 2,058,957 | (706,244) | 1,568,548 | |||
Dividends payable | 692,874 | 522,573 | 468,583 | |||
Fair value of assets acquired: | ||||||
Cash and due from banks | 4,434,511 | [1] | 10,094,645 | [1] | [1] | |
Federal funds sold | 698,000 | |||||
Interest-bearing deposits at financial institutions | 3,953,907 | 14,730,157 | ||||
Securities | 49,703,419 | 102,640,029 | ||||
Loans receivable, net | 192,517,677 | 419,029,277 | ||||
Premises and equipment, net | 4,808,343 | 20,684,880 | ||||
Restricted investment securities | 476,500 | 1,512,900 | ||||
Other real estate owned | 650,000 | |||||
Core deposit intangible | 2,698,301 | 6,352,653 | ||||
Other assets | 997,810 | 5,283,937 | ||||
Total assets acquired | 259,590,468 | 581,676,478 | ||||
Fair value of liabilities assumed: | ||||||
Deposits | 212,467,514 | 486,298,262 | ||||
Short-term borrowings | 13,102,043 | |||||
FHLB advances | 4,108,027 | 20,368,877 | ||||
Junior subordinated debentures | 3,857,275 | |||||
Other liabilities | 2,595,883 | 4,897,564 | ||||
Total liabilities assumed | 236,130,742 | 511,564,703 | ||||
Net assets acquired | 23,459,726 | 70,111,775 | ||||
Consideration paid: | ||||||
Cash paid | 7,803,420 | [2] | 80,000,000 | [2] | [2] | |
Common stock | 30,879,485 | |||||
Total consideration paid | 38,682,905 | 80,000,000 | ||||
Goodwill | 15,223,179 | 9,888,225 | ||||
Common Stock Offering 1 [Member] | ||||||
Activity in other borrowings: | ||||||
Net proceeds from common stock offering | 29,828,916 | 63,484,123 | ||||
Common Stock Offering 2 [Member] | ||||||
Activity in other borrowings: | ||||||
Net proceeds from common stock offering | $ 2,055,507 | $ 2,105,774 | $ 1,552,673 | |||
[1] | Net cash paid at closing totaled $69,905,355 | |||||
[2] | Net cash paid at closing totaled $69,905,355 for acquisition of CSB in 2016. |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Nature of Business and Significant Accounting Policies Basis of presentation : The acronyms and abbreviations identified below are used in the Notes to the Consolidated Financial Statements , as well as in the other sections of this Form 10 may Allowance: Allowance for estimated losses on loans/leases Goldman Sachs: Goldman Sachs and Company AOCI: Accumulated other comprehensive income (loss) HTM: Held to maturity AFS: Available for sale Iowa Superintendent: Iowa Superintendent of Banking ASC: Accounting Standards Codification LCR: Liquidity Coverage Ratio ASC 805: m2: m2 ASU: Accounting Standards Update MD&A: Management's Discussion & Analysis BHCA: Bank Holding Company Act of 1956 MSA: Metropolitan Statistical Area BOLI: Bank-owned life insurance NIM: Net interest margin Caps: Interest rate cap derivatives NPA: Nonperforming asset CFPB: Bureau of Consumer Financial Protection NPL: Nonperforming loan Community National: Community National Bancorporation NSFR: Net Stable Funding Ratio CNB: Community National Bank OREO: Other real estate owned CRA: Community Reinvestment Act OTTI: Other-than-temporary impairment CRBT: Cedar Rapids Bank & Trust Company PCAOB: Public Company Accounting Oversight Board CRE: Commercial real estate PCI: Purchased credit impaired CRE Guidance: Interagency Concentrations in Commercial Real Estate Provision: Provision for loan/lease losses Lending, Sound Risk Management Practices guidance PUD LOC: Public Unit Deposit Letter of Credit 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 ROACE: Return on Average Common Equity IDFPR: Illinois Department of Financial & Professional Regulation ROAE: Return on Average Equity DGCL: Delaware General Corporation Law SBA: U.S. Small Business Administration DIF: Deposit Insurance Fund SBLF: Small Business Lending Fund EPS: Earnings per share SEC: Securities and Exchange Commission Exchange Act: Securities Exchange Act of 1934, SERPs: Supplemental Executive Retirement Plans FASB: Financial Accounting Standards Board TA: Tangible assets FDIC: Federal Deposit Insurance Corporation Tax Act: Tax Cuts and Jobs Act Federal Reserve: Board of Governors of the Federal Reserve System TCE: Tangible common equity FHLB: Federal Home Loan Bank TDRs: Troubled debt restructurings FICO: Financing Corporation TEY: Tax equivalent yield FRB: Federal Reserve Bank of Chicago The Company: QCR Holdings, Inc. FTEs: Full-time equivalents Treasury: U.S. Department of the Treasury GAAP: Generally Accepted Accounting Principles USA Patriot Act: Uniting and Strengthening America by Guaranty: Guaranty Bankshares, Ltd. Providing Appropriate Tools Required to Intercept and Guaranty Bank: Guaranty Bank and Trust Company Obstruct Terrorism Act of 2001 USDA: U.S. Department of Agriculture Nature of business : QCR Holdings, Inc. is a bank holding company that has elected to operate as a financial holding company under the BHCA. The Company provides bank and bank-related services through its banking subsidiaries, QCBT, CRBT, CSB and RB&T. The Company also engages in direct financing lease contracts through its wholly-owned equity investment by QCBT in m2, On October 1, 2017 . On December 2, 2017, On August 31, 2016, The financial results of the acquisitions of both Guaranty Bank and CSB for the periods since acquisition are included in this report. See Note 2 QCBT is a commercial bank that serves the Iowa and Illinois Quad Cities and adjacent communities. CRBT is a commercial bank that serves Cedar Rapids, Iowa, and adjacent communities including Cedar Falls and Waterloo, Iowa. CSB is a commercial bank that serves Des Moines, Iowa, and adjacent communities. RB&T is a commercial bank that serves Rockford, Illinois, and adjacent communities. QCBT , CRBT, and CSB are chartered and regulated by the state of Iowa, and RB&T is chartered and regulated by the state of Illinois. All four The remaining subsidiaries of the Company consist of six 12 Significant accounting policies: Accounting estimates : The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance, OTTI of securities, the fair value of financial instruments, and the fair value of assets acquired/liabilities assumed in a business combination. Principles of consolidation : The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, except those six not 12 Presentation of cash flows : For purposes of reporting cash flows, cash and due from banks include cash on hand and noninterest bearing amounts due from banks. Cash flows from federal funds sold, interest bearing deposits at financial institutions, loans/leases, deposits, and short-term borrowings are treated as net increases or decreases. Cash and due from banks : The subsidiary banks are required by federal banking regulations to maintain certain cash and due from bank reserves. The reserve requirement was approximately $41,803,000 $42,233,000 December 31, 2017 2016, Investment securities : Investment securities held to maturity are those debt securities that the Company has the ability and intent to hold until maturity regardless of changes in market conditions, liquidity needs, or changes in general economic conditions. Such securities are carried at cost adjusted for amortization of premiums and accretion of discounts. If the ability or intent to hold to maturity is not not All securities are evaluated to determine whether declines in fair value below their amortized cost are other-than-temporary. In estimating OTTI losses on AFS debt securities, management considers a number of factors including, but not 1 2 3 4 not not If the Company lacks the intent to sell the security, and it is not not Loans receivable , held for sale Loans receivable, held for investment : Loans that management has the intent and ability to hold for the foreseeable future, or until pay-off or maturity occurs, are classified as held for investment. These loans are stated at the amount of unpaid principal adjusted for charge-offs, the allowance, and any deferred fees and/or costs on originated loans. Interest is credited to earnings as earned based on the principal amount outstanding. Deferred direct loan origination fees and/or costs are amortized as an adjustment of the related loan’s yield. As assets held for and used in the production of services, the origination and collection of these loans are classified as investing activities in the statement of cash flows. The Company discloses the allowance for credit losses (also known as the allowance) by portfolio segment, and credit quality information, impaired financing receivables, nonaccrual status, and TDRs by class of financing receivable. A portfolio segment is the level at which the Company develops and documents a systematic methodology to determine its allowance for credit losses. A class of financing receivable is a further disaggregation of a portfolio segment based on risk characteristics and the Company’s method for monitoring and assessing credit risk. See the following information and Note 4. The Company ’s portfolio segments are as follows: ● C&I ● CRE ● Residential real estate ● Installment and other consumer Direct financing leases are considered a segment within the overall loan/lease portfolio. The Company’s classes of loans receivable are as follows: ● C&I ● Owner-occupied CRE ● Commercial construction, land development, and other land loans that are not CRE ● Other non-owner-occupied CRE ● Residential real estate ● Installment and other consumer Direct financing leases are considered a class of financing receivable within the overall loan/lease portfolio. The accounting policies for direct financing leases are disclosed below. Generally , for all classes of loans receivable, loans are considered past due when contractual payments are delinquent for 31 For al l classes of loans receivable, loans will generally be placed on nonaccrual status when the loan has become 90 ● It becomes evident that the borrower will not not ; ● When full repayment of principal and interest is not ; ● When the loan is graded “doubtful” ; ● When the borrower files bankruptcy and an approved plan of reorganization or liquidation is not ; or ● When foreclosure action is initiated. When a loan is placed on nonaccrual status, income recognition is ceased. Previously recorded but uncollected amounts of interest on nonaccrual loans are reversed at the time the loan is placed on nonaccrual status. Generally, cash collected on nonaccrual loans is applied to principal. Should full collection of principal be expected, cash collected on nonaccrual loans can be recognized as interest income. For all classes of loans receivable, nonaccrual loans may ● The loan is current, and all principal and interest amounts contractually due have been made ; ● All principal and interest amounts contractually due, including past due payments, are reasonabl y assured of repayment within a reasonable period; and ● There is a period of minimum repayment performance, as follows, by the borrower in accordance with contractual terms: ○ Six months of repayment performance for contractual monthly payments, or ○ One year of repayment performance for contractual quarterly or semi-annual payments . Direct finance leases receivable, held for investment : The Company leases machinery and equipment to customers under leases that qualify as direct financing leases for financial reporting and as operating leases for income tax purposes. Under the direct financing method of accounting, the minimum lease payments to be received under the lease contract, together with the estimated unguaranteed residual values (approximately 3% 25% Lease income is recognized on the interest method. Residual value is the estimated fair market value of the equipment on lease at lease termination. In estimating the equipment’s fair value at lease termination, the Company relies on historical experience by equipment type and manufacturer and, where available, valuations by independent appraisers, adjusted for known trends. The Company ’s estimates are reviewed continuously to ensure reasonableness; however, the amounts the Company will ultimately realize could differ from the estimated amounts. If the review results in a lower estimate than had been previously established, a determination is made as to whether the decline in estimated residual value is other-than-temporary. If the decline in estimated unguaranteed residual value is judged to be other-than-temporary, the accounting for the transaction is revised using the changed estimate. The resulting reduction in the investment is recognized as a loss in the period in which the estimate is changed. An upward adjustment of the estimated residual value is not T he policies for delinquency and nonaccrual for direct financing leases are materially consistent with those described above for all classes of loan receivables. The Company defers and amortizes fees and certain incremental direct costs over the contractual term of the lease as an adjustment to the yield. These initial direct leasing costs generally approximate 5.5% TDRs : TDRs exist when the Company, for economic or legal reasons related to the borrower’s/lessee’s financial difficulties, grants a concession (either imposed by court order, law, or agreement between the borrower/lessee and the Company) to the borrower/lessee that it would not The following criteria, related to granting a concession, together or separately, create a TDR: ● A modification of terms of a debt such as one ○ The reduction of the stated interest rate to a rate lower than the current market rate for new debt with similar risk. ○ The extension of the maturity date or dates at a stated interest rate lower than the current market rate for new debt with similar risk. ○ The reduction of the face amount or maturity amount of the debt as stated in the instrument or other agreement. ○ The reduction of accrued interest. ● A transfer from the borrower /lessee to the Company of receivables from third ● The issuance or other granting of an equity position to the Company to fully or partially satisfy a debt unless the equity position is granted pursuant to existing terms for converting the debt into an equity position. Allowance : For all portfolio segments , the allowance is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans/leases in light of historical experience, the nature and volume of the loan/lease portfolio, adverse situations that may A discussion of the risk characteristics and the allowance by each portfolio segment follows: For C&I loans, the Company focuses on small and mid-sized businesses with primary operations as wholesalers, manufacturers, building contractors, business services companies, other banks, and retailers. The Company provides a wide range of C&I loans, including lines of credit for working capital and operational purposes, and term loans for the acquisition of facilities, equipment and other purposes. Approval is generally based on the following factors: ● Ability and stability of current management of the borrower; ● Stable earnings with positive financial trends; ● Sufficient cash flow to support debt repayment; ● Earnings projections based on reasonable assumptions; ● Financial strength of the industry and business; and ● Value and marketability of collateral. Collateral for C&I loans generally includes accounts receivable, inventory, equipment and real estate. The Company’s lending policy specifies approved collateral types and corresponding maximum advance percentages. The value of collateral pledged on loans must exceed the loan amount by a margin sufficient to absorb potential erosion of its value in the event of foreclosure and cover the loan amount plus costs incurred to convert it to cash. The Company’s lending policy specifies maximum term limits for C&I loans. For term loans, the maximum term is generally 7 3 5 365 In addition, the Company often takes personal guarantees or cosigners to help assure repayment. Loans may CRE loans are subject to underwriting standards and processes similar to C&I loans, in addition to those standards and processes specific to real estate loans. Collateral for CRE loans generally includes the underlying real estate and improvements, and may The Company’s lending policy also includes guidelines for real estate appraisals, including minimum appraisal standards based on certain transactions. In addition, the Company often takes personal guarantees to help assure repayment. In addition, management tracks the level of owner-occupied CRE loans versus non-owner occupied loans. Owner-occupied loans are generally considered to have less risk. As of December 31, 2017 2016, 26% 30%, The Company ’s lending policy incorporates regulatory guidelines which stipulate that non-owner occupied CRE lending in excess of 300% 100% December 31, 2017 2016, December 31, 2017, December 31, 2016. In some instances for all loans/leases, it may Company’s lending policy described above and below. In general, exceptions to the lending policy do not For C&I and CRE loans, the allowance consists of specific and general components. The specific component relates to loans that are classified as impaired , as defined below. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan are lower than the carrying value of that loan. For C&I loans and all classes of CRE loans, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not The general component consists of quantitative and qualitative factors and covers non-impaired loans. The quantitative factors are based on historical charge-off experience and expected loss given default derived from the Company’s internal risk rating process. See below for a detailed description of the Company’s internal risk rating scale. The qualitative factors are determined based on an assessment of internal and/or external influences on credit quality that are not For C&I and CRE loans, the Company utilizes the following internal risk rating scale: 1 . Highest Quality (Pass) – loans of the highest quality with no 2 . Superior Quality (Pass) – loans with very strong credit quality. Borrowers have exceptionally strong earnings, liquidity, capital, cash flow coverage, and management ability. Includes loans secured by high quality marketable securities, certificates of deposit from other institutions, and cash value of life insurance. Also includes loans supported by U.S. government, state, or municipal guarantees. 3 . Satisfactory Quality (Pass) – loans with satisfactory credit quality. Established borrowers with satisfactory financial condition, including credit quality, earnings, liquidity, capital and cash flow coverage. Management is capable and experienced. Collateral coverage and guarantor support, if applicable, are more than adequate. Includes loans secured by personal assets and business assets, including equipment, accounts receivable, inventory, and real estate. 4 . Fair Quality (Pass) – loans with moderate but still acceptable credit quality. The primary repayment source remains adequate; however, management’s ability to maintain consistent profitability is unproven or uncertain. Borrowers exhibit acceptable leverage and liquidity. May 5 . Early Warning (Pass) – loans where the borrowers have generally performed as agreed, however unfavorable financial trends exist or are anticipated. Earnings may may may may 6 . Special Mention – loans where the borrowers exhibit credit weaknesses or unfavorable financial trends requiring close monitoring. Weaknesses and adverse trends are more pronounced than Early Warning loans, and if left uncorrected, may no not one 7 . Substandard – loans which are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if applicable. These loans have a well-defined weakness or weaknesses which jeopardize repayment according to the contractual terms. There is distinct loss potential if the weaknesses are not 8 . Doubtful – loans which have all the weaknesses inherent in a Substandard loan, with the added characteristic that existing weaknesses make full principal collection, on the basis of current facts, conditions and values, highly doubtful. The possibility of loss is extremely high, but because of pending factors, recognition of a loss is deferred until a more exact status can be determined. All doubtful loans will be placed on non-accrual, with all payments, including principal and interest, applied to principal reduction. The Company has certain loans risk-rated 7 not 7 not follow the same allowance methodology as it does for all other non-impaired, collectively evaluated loans. Rather, the Company performs a more detailed analysis including evaluation of the cash flow and collateral valuations. Based upon this evaluation, an estimate of the probable loss in this portfolio is collectively evaluated under ASC 450 20. 7 For term C&I and CRE loans greater than $1,000,000, 15 The Company’s Loan Quality area performs a documentation review of a sampling of C&I and CRE loans, the primary purpose of which is to ensure the credit is properly documented and closed in accordance with approval authorities and conditions. A review is also performed by the Company’s Internal Audit Department of a sampling of C&I and CRE loans for proper documentation, according to an approved schedule. Validation of the risk rating is also part of Internal Audit’s review (performed by Internal Loan Review). Additionally, over the past several years, the Company has contracted an independent outside third The Company leases machinery and equipment to C&I customers under direct financing leases. All lease requests are subject to the credit requirements and criteria as set forth in the lending/leasing policy. In all cases, a formal independent credit analysis of the lessee is performed. For direct financing leases, the allowance consists of specific and general components. The specific component relates to leases that are classified as impaired, as defined for commercial loans above. For those leases that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired lease is lower than the carrying value of that lease. The general component consists of quantitative and qualitative factors and covers nonimpaired leases. The quantitative factors are based on historical charge-off experience for the entire lease portfolio. The qualitative factors are determined based on an assessment of internal and/or external influences on credit quality that are not Generally, the Company’s residential real estate loans conform to the underwriting requirements of Freddie Mac and Fannie Mae to allow the subsidiary banks to resell loans in the secondary market. The subsidiary banks structure most loans that will not one five 15 not The Company provides many types of installment and other consumer loans including motor vehicle, home improvement, home equity, signature loans and small personal credit lines. The Company’s lending policy addresses specific credit guidelines by consumer loan type. For residential real estate loans, and installment and other consumer loans, these large groups of smaller balance homogenous loans are collectively evaluated for impairment. The Company applies a quantitative factor based on historical charge-off experience in total for each of these segments. Accordingly, the Company generally does not TDRs are considered impaired loans/leases and are subject to the same allowance methodology as described above for impaired loans/leases by portfolio segment. Once a loan is classified as a TDR, it will remain a TDR until the loan is paid off, charged off, moved to OREO or restructured into a new note without a concession. TDR status may Credit related financial instruments : In the ordinary course of business, the Company has entered into commitments to extend credit and standby letters of credit. Such financial instruments are recorded when they are funded. Transfers of financial assets : Transfers of financial assets are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: ( 1 2 no 3 not ● Pro-rata ownership in an entire financial asset . ● From the date of the transfer, all cash flows received from entire financial assets are divided proportionately among the participating interest holders in an amount equal to their share of ownership. ● The rights of each participating interest holder have the same priority, and no ’s interest is subordinated to the interest of another participating interest holder. That is, no ● No BOLI : BOLI is carried at cash surrender value with increases/decreases reflected as income/expense in the statement of income. Premises and equipment : Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets. Restricted investment securities : Restricted investment securities represent FHLB and FRB common stock. The stock is carried at cost. These equity securities are “restricted” in that they can only be sold back to the respective institution or another member institution at par. Therefore, they are less liquid than other tradable equity securities. The Company views its investment in restricted stock as a long-term investment. Accordingly, when evaluating for impairment, the value is determined based on the ultimate recovery of the par value, rather than recognizing temporary declines in value. There have been no OREO : Real estate acquired through, or in lieu of, loan foreclosures, is held for sale and initially recorded at fair value less costs to sell, establishing a new cost basis. Any writedown to fair value taken at the time of foreclosure is charged to the allowance. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less costs to sell. Subsequent write-downs to fair value are charged to earnings. Repossessed assets : Equipment or other non-real estate property acquired through, or in lieu of foreclosure, is held for sale and initially recorded at fair value less costs to sell. Goodwill : The Company recorded goodwill totaling $3,222,688 80% m2 August 2005. $9,888,225 2016. not September 30, 2017, not $15,223,179 2017. 2 not 2018. Core deposit intangible : The Company has recorded a core deposit intangible from historical acquisitions including CNB, CSB and Guaranty Bank. The core deposit intangible was the portion of the acquisition purchase price which represented the value assigned to the existing deposit base at acquisition. See Notes 2 7 ten Swap transactions : The Company offers a loan swap program to certain commercial loan customers. Through this program, the Company originates a variable rate loan with the customer. The Company and the swap customer will then enter into a fixed interest rate swap. Lastly, an identical offsetting swap is entered into by the Company with a counterparty. These “back-to-back” swap arrangements are intended to offset each other and allow the Company to book a variable rate loan, while providing the customer with a contract for fixed interest payments. In these arrangements, the Company’s net cash flow is equal to the interest income received from the variable rate loan originated with the customer. These customer swaps are not $3.1 $1.7 $1.7 December 31, 2017, 2016 2015, Derivatives and hedging activities : The Company enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Derivative instruments represent contracts between parties that result in one one The derivative financial instruments currently used by the Company to manage its exposure to interest rate risk include: ( 1 2 short-term fixed rate liabilities. Interest rate caps are valued by the transaction counterparty on a monthly basis and corroborated by a third ASC 815, Preferred stock : The Company currently has 250,000 none December 31, 2017 2016. Treasury s tock 2015. Stock-based compensation plans: The Company accounts for stock-based compensation with measurement of compensation cost for all stock-based awards at fair value on the grant date and recognition of compensation over the requisite service period for awards expected to vest. As discussed in Note 15, December 31, 2017, 2016, 2015, $1,187,035, $947,174 $941,469, The Company use s the Black-Scholes option pricing model to estimate the fair value of stock option grants with the following assumptions for the indicated periods: 2017 2016 201 5 Dividend yield 0.36% to 0.47% 0.35% to 0.51% 0.37% to 0.46% Expected volatilit y 29.64% to 29.95% 29.32% to 29.37% 28.92% to 29.32% Risk-free interest rate 2.50% to 2.81% 1.73% to 2.18% 1.89% to 2.37% Expected life of option grants (in years) 6 6 6 Weighted-average grant date fair value $14.75 $7.31 $5.11 The Compan y also uses the Black-Scholes option pricing model to estimate the fair value of stock purchase grants with the following assumptions for the indicated periods: 2017 2016 20 15 Dividend yield 0.37% to 0.42% 0.33% to 0.59% 0.37% to 0.45% Expect ed volatility 19.80% to 19.86% 12.70% to 15.60% 8.81% to 13.10% Risk-free interest rate 0.67% to 1.18% 0.39% to 0.57% 0.09% to .016% Expected life of purchase grants (in months) 3 to 6 3 to 6 3 to 6 Weighted-average grant date fair value $6.42 $3.28 $2.39 The fair value is amortized on a straight-line basis over the vesting periods of the grants and will be adjusted for subsequent changes in estimated forfeitures. The expected dividend yield assumption is based on the Company's current expectations about its anticipated dividend policy. Expected volatility is based on historical volatility of the Company's common stock price. The risk-free interest rate for periods within the contractual life of the option or purchase is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life of the option and purchase grants is derived using the “simplified” method and represents the period of time that options and purchases are expected to be outstanding. Historical data is used to estimate forfeitures used in the model. Two separate groups of employees (employees subject to broad based grants, and executive employees and directors) are used. As of December 31, 2017, $961,972 1.92 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company's common stock for the 495,004 December 31, 2017. December 31, 2017 $13.2 $10.5 December 31, 2017, 2016 2015, $1,055,193, $1,525,902, $480,354, Restricted stock awards granted may not not All restricted share awards are classified as equity awards. The grant-date fair value of equity-classified restricted stock awards is amortized as compensation expense on a straight-line basis over the period restrictions lapse. As of December 31, 2017, 1,210,425 2.60 Income taxes : The Company files its tax return on a consolidated basis with its subsidiaries. The entities follow the direct reimbursement method of accounting for income taxes under which income taxes or credits which result from the inclusion of the subsidiaries in the consolidated tax return are paid to or received from the parent company. Deferred income taxes are provided under the liability method whereby deferred tax assets are recognized for deductible temporary differences and net operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not ects of changes in tax laws and rates on the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not likely than not 50 Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statement s of income. Trust assets : Trust assets held by the subsidiary banks in a fiduciary, agency, or custodial capacity for their customers, other than cash on deposit at the subsidiary banks, are not not Earnings per share : See Note 17 Reclassifications : Certain amounts in the prior year financial statements have been reclassified, with no New accounting pronouncements: 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 no In January 2016, 2016 01, Financial Instruments – Overall 2016 01 2016 01was January 1, 2018 no In February 2016, 2016 02, Leases 2016 02, 2016 02. 2016 02 |
Note 2 - Acquisitions
Note 2 - Acquisitions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | 2 . Acquisitions Guaranty Bank and Trust On October 1, 2017 five The acquisition of Guaranty Bank allowed the Company to grow its market share in the Cedar Rapids market. Guaranty Bank has a strong core deposit base and retail franchise. Although Guaranty already has strong earnings, the Company has identified several opportunities for enhanced future earnings performance. Lastly, financial metrics related to the transaction were favorable, as measured by EPS accretion, ROAA accretion and earn back of tangible book value dilution. In the acquisition, the Company acquired 100% ’s outstanding common stock and purchased certain assets and assumed certain liabilities of Guaranty for aggregate consideration consisting of 79% 678,670 21% $7.8 September 29, 2017, $45.50, $30.9 $38.7 To help fund the cash portion of the purchase price, on September 27, 2017, $7.0 four See further information in Note 11. December 31, 2017 The Company accounted for the business combination under the acquisition method of accounting in accordance with ASC 805. one The excess of the consideration paid over the fair value of the net assets acquired is recorded as goodwill. This goodwill is deductible over 15 The Company has several areas of specialization, including government guaranteed lending, C&I lending, interest rate swaps, leasing, wealth management, private banking and municipal bond offerings that will be offered in this expanded market, increasing future earnings potential. Guaranty Bank has a strong core deposit base. There is also value added to the Company through having an expanded footprint in a market that has strong growth potential. The experience and value of the personnel at Guaranty Bank and their knowledge of the expanded market is also beneficial. On December 2, 2017 , the Company merged Guaranty Bank with and into CRBT, with CRBT as the surviving bank. As part of the merger, the Guaranty Bank branches located at 302 3 rd 1819 42 nd $3.6 December 31, 2017 three The fair values of the assets acquired and liabilities assumed including the consideration paid and resulting goodwill is as follows: As of October 1, 2017 ASSETS Cash and due from banks $ 4,434,511 Interest-bearing deposits at financial institutions 3,953,907 Securities 49,703,419 Loans/leases receivable, net 192,517,677 Premises and equipment 4,808,343 Restricted investment securities 476,500 Core deposit intangible 2,698,301 Other assets 997,810 Total assets acquired $ 259,590,468 LIABILITIES Deposits $ 212,467,514 Short-term borrowings 13,102,043 FHLB advances 4,108,027 Junior subordinated debentures 3,857,275 Other liabilities 2,595,883 Total liabilities assumed 236,130,742 Net assets acquired $ 23,459,726 CONSIDERATION PAID: Cash $ 7,803,420 Common stock 30,879,485 Total consideration paid 38,682,905 Goodwill $ 15,223,179 Loans acquired in a business combination are recorded and initially measured at their estimated fair value as of the acquisition date. Credit discounts are included in the determination of fair value. A third Purchased loans are segregated into two 310 30, 310 20, not For PCI loans, the difference between the contractually required payments at acquisition and the cash flows expected to be collected is referred to as the non-accretable discount. Further, any excess cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized in interest income over the expected remaining life of the loan. Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. The present value of any decreases in expected cash flows after the purchase date is recognized by recording an allowance for loan and lease losses and provision for loan losses. For performing loans, the difference between the estimated fair value of the loans and the principal balance outstanding is accreted over the remaining life of the loans The following table presents the purchased loans as of the acquisition date: PCI Performing Loans Loans Total Contractually required principal payments $ 3,126,327 $ 192,982,439 $ 196,108,766 Nonaccretable discount (1,147,198 ) - (1,147,198 ) Principal cash flows expected to be collected 1,979,129 192,982,439 194,961,568 Accretable discount (219,902 ) (2,223,989 ) (2,443,891 ) Fair Value of acquired loans $ 1,759,227 $ 190,758,450 $ 192,517,677 Changes in accretable yield for the loans acquired are as follows: For the year ended December 31, 2017 PCI Performing Loans Loans Total Balance at the beginning of the period $ - $ - $ - Discount added at acquisition (219,902 ) (2,223,989 ) (2,443,891 ) Accretion recognized 54,070 26,836 80,906 Balance at the end of the period $ (165,832 ) $ (2,197,153 ) $ (2,362,985 ) During 2017, $158 Premises and equipment acquired with a fair value of $ 4,808,343 five $4,614,604, $998,343. third 39 The Company recorded a core deposit intangible totaling $ 2,698,301 ten 6 During the current year, the Company incurred $1.1 2017, $3.1 Unaudited pro forma combined operating results for the years ended December 31, 2017 2016, January 1, 2016, Year Ended December 31, 2017 2016 (dollars in thousands, except per share data) Net interest income $ 122,923 $ 102,902 Noninterest income $ 32,703 $ 34,238 Net income $ 38,728 $ 27,103 Earnings per common share: Basic $ 2.80 $ 2.05 Diluted $ 2.73 $ 2.02 The pro forma results do not January 1, 2016 C ommunity State Bank On August 31, 2016, ten 100% $80.0 The acquisition of CSB allowed the Company to expand its footprint into the Des Moines market. CSB has an experienced and capable leadership team that is committed to leading the Company ’s efforts in the Des Moines area. CSB has demonstrated significant improvement in earnings and asset quality during the last three $581 not In connection with the acquisition, during the second 2016, 1,215,000 $24.75 $29.8 May 23, 2016. Cash received from the common stock offering was used to help finance the purchase price of the acquisition. Additionally, the Company drew $5.0 $10.0 $30.0 11 $15.2 The Company accounted for the business combination under the acquisition method of accounting in accordance with ASC 805. The excess of the consideration paid over the fair value of the net assets acquired is recorded as goodwill. This goodwill is not The Company has several areas of specialization, including government guaranteed lending, C&I lending, interest rate swaps, leasing, wealth management, private banking and municipal bond offerings that will be offered in this new market, increasing future earnings potential. There is also value added to the Company through having a footprint in a market that has strong growth potential. Additionally, there are qualitative benefits gained through the addition of a new charter including better leverage of centralized operations and increased lending limits. The experience and value of the personnel at CSB and their knowledge of the Des Moines MSA is also beneficial. The fair values of the assets acquired and liabilities assumed including the consideration paid and resulting goodwill is as follows: As of August 31, 2016 ASSETS Cash and due from banks $ 10,094,645 Federal funds sold 698,000 Interest-bearing deposits at financial institutions 14,730,157 Securities 102,640,029 Loans/leases receivable, net 419,029,277 Premises and equipment 20,684,880 Core deposit intangible 6,352,653 Restricted investment securities 1,512,900 Other real estate owned 650,000 Other assets 5,283,937 Total assets acquired $ 581,676,478 LIABILITIES Deposits $ 486,298,262 FHLB advances 20,368,877 Other liabilities 4,897,564 Total liabilities assumed $ 511,564,703 Net assets acquired $ 70,111,775 CONSIDERATION PAID: Cash $ 80,000,000 Total consideration paid $ 80,000,000 Goodwill $ 9,888,225 Loans acquired in a business combination are recorded and initially measured at their estimated fair value as of the acquisition date. Credit discounts are included in the determination of fair value. A third Purchased loans are segregated into two 310 30, 310 20, not For PCI loans, the difference between the contractually required payments at acquisition and the cash flows expected to be collected is referred to as the non-accretable discount. Further, any excess cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized in interest income over the expected remaining life of the loan. Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. The present value of any decreases in expected cash flows after the purchase date is recognized by recording an allowance for loan and lease losses and provision for loan losses. For performing loans, the difference between the estimated fair value of the loans and the principal balance outstanding is accreted over the remaining life of the loans. The following table presents the purchased loans as of the acquisition date: PCI Performing Loans Loans Total Contractually required principal payments $ 8,349,688 $ 427,398,400 $ 435,748,088 Nonaccretable discount (4,525,223 ) - (4,525,223 ) Principal cash flows expected to be collected $ 3,824,465 $ 427,398,400 $ 431,222,865 Accretable discount (277,579 ) (11,916,009 ) (12,193,588 ) Fair Value of acquired loans $ 3,546,886 $ 415,482,391 $ 419,029,277 Changes in accretable yield for the loans acquired are as follows: For the year ended December 31, 2017 PCI Performing Loans Loans Total Balance at the beginning of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) Accretion recognized 169,006 5,032,692 5,201,698 Balance at the end of the period $ (25,300 ) $ (4,082,922 ) $ (4,108,222 ) For the year ended December 31, 2016 PCI Performing Loans Loans Total Balance at the beginning of the period $ - $ - $ - Discount added at acquisition (277,579 ) (11,916,009 ) (12,193,588 ) Accretion recognized 83,273 2,800,395 2,883,668 Balance at the end of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) During 2017 2016, $198 $186 Premises and equipment acquired with a fair value of $20,684,880 ten $19,735,000, $8,334,437. third buildings and building write-ups will be recognized in depreciation expense over 39 The Company recorded a core deposit intangible totaling $6,352,653 ten See Note 6 During 2016, $1.4 2016, $1.0 August 31, 2016 December 31, 2016, $11.4 $2.1 $473 During the current year, the Company incurred $1.2 Unaudited pro forma combined operating results for the years ended December 31, 2016 2015, January 1, 2015, Year Ended December 31, 2016 2015 (dollars in thousands, except per share data) Net interest income $ 110,035 $ 98,483 Noninterest income $ 34,773 $ 31,051 Net income $ 34,137 $ 22,118 Earnings per common share: Basic $ 2.62 $ 1.91 Diluted $ 2.58 $ 1.89 The pro forma results do not January 1, 2015 |
Note 3 - Investment Securities
Note 3 - Investment Securities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investment Holdings [Text Block] | 3. The amortized cost and fair value of investment securities as of December 31, 2017 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (Losses) Value December 31, 2017: Securities held to maturity: Municipal securities $ 378,424,205 $ 2,763,718 $ (2,488,119 ) $ 378,699,804 Other securities 1,050,000 - - 1,050,000 $ 379,474,205 $ 2,763,718 $ (2,488,119 ) $ 379,749,804 Securities available for sale: U.S. govt. sponsored agency securities $ 38,409,157 $ 37,344 $ (349,967 ) $ 38,096,534 Residential mortgage-backed and related securities 165,459,470 155,363 (2,313,529 ) 163,301,304 Municipal securities 66,176,364 660,232 (211,100 ) 66,625,496 Other securities 4,014,004 896,384 (25,815 ) 4,884,573 $ 274,058,995 $ 1,749,323 $ (2,900,411 ) $ 272,907,907 December 31, 2016: Securities held to maturity: 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 available for sale: 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 municipalities are located primarily 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 unrealized loss position, as of December 31, 2017 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 December 31, 2017: Securities held to maturity: Municipal securities $ 23,750,826 $ (354,460 ) $ 72,611,780 $ (2,133,659 ) $ 96,362,606 $ (2,488,119 ) Securities available for sale: U.S. govt. sponsored agency securities $ 28,576,258 $ (200,022 ) $ 3,640,477 $ (149,945 ) $ 32,216,735 $ (349,967 ) Residential mortgage-backed and related securities 88,927,779 (871,855 ) 57,931,731 (1,441,674 ) 146,859,510 (2,313,529 ) Municipal securities 10,229,337 (41,151 ) 9,997,433 (169,949 ) 20,226,770 (211,100 ) Other securities 923,535 (25,815 ) - - 923,535 (25,815 ) $ 128,656,909 $ (1,138,843 ) $ 71,569,641 $ (1,761,568 ) $ 200,226,550 $ (2,900,411 ) December 31, 2016: Securities held to maturity: Municipal securities $ 122,271,533 $ (4,076,647 ) $ 13,010,803 $ (618,087 ) $ 135,282,336 $ (4,694,734 ) Securities available for sale: 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 December 31, 2017, 613 223 0.8% 223 110 12 not not December 31, 2017 2016, 1% T he Company did not December 31, 2017, 2016 2015. All sales of securities for the years ended December 31, 2017, 2016 2015, 2017 2016 2015 Proceeds from sales of securities $ 71,091,580 $ 134,188,737 $ 81,410,368 Gross gains from sales of securities 67,351 4,845,009 1,045,444 Gross losses from sales of securities (155,236 ) (252,611 ) (246,461 ) In September 2016, $4,010,877. no 2002. The amortized cost and fair value of securities as of December 31, 2017, may may not no for those securities. Amortized Cost Fair Value Securities held to maturity: Due in one year or less $ 2,912,158 $ 2,909,816 Due after one year through five years 20,838,734 20,896,388 Due after five years 355,723,313 355,943,600 $ 379,474,205 $ 379,749,804 Securities available for sale: Due in one year or less $ 1,991,755 $ 1,996,584 Due after one year through five years 26,984,843 26,986,584 Due after five years 75,608,923 75,738,862 $ 104,585,521 $ 104,722,030 Residential mortgage-backed and related securities 165,459,470 163,301,304 Other securities 4,014,004 4,884,573 $ 274,058,995 $ 272,907,907 P ortions of the U.S. government sponsored agencies and municipal securities contain call options, at the discretion of the issuer, to terminate the security at predetermined dates prior to the stated maturity, summarized as follows: Amortized Cost Fair Value Securities held to maturity: Municipal securities $ 208,103,672 $ 208,961,233 Securities available for sale: U.S. govt. sponsored agency securities 5,048,756 4,988,073 Municipal securities 57,554,280 57,817,498 $ 62,603,036 $ 62,805,571 As of December 31, 2017 2016, $78,642,843 $118,811,905, As of December 31, 2017, 131 $108.0 145 $337.3 26 6 $5.0 16 7 $5.0 As of December 31, 2016, 116 $116.5 120 $255.5 21 5 $5.0 12 6 $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: December 31, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Illinois 20 $ 19,328,700 $ 19,514,024 $ 975,701 Iowa 16 13,881,689 13,969,512 873,095 Missouri 17 9,243,355 9,308,287 547,546 North Dakota 7 21,626,574 21,724,197 3,103,457 Ohio 9 8,002,705 7,938,028 882,003 Texas 17 11,253,775 11,308,848 665,226 Other 45 24,000,278 24,215,119 538,114 Total general obligation bonds 131 $ 107,337,076 $ 107,978,015 $ 824,260 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Illinois 19 $ 29,214,559 $ 29,308,438 $ 1,542,549 Iowa 27 32,258,612 32,231,936 1,193,775 Missouri 14 8,291,192 8,323,245 594,518 North Dakota 7 22,169,050 21,499,075 3,071,296 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: December 31, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Illinois 2 $ 17,211,441 $ 17,408,544 $ 8,704,272 Indiana 26 51,171,818 50,861,336 1,956,205 Iowa 29 68,724,899 69,079,470 2,382,051 Kansas 6 12,873,329 12,877,087 2,146,181 Missouri 56 106,259,015 106,232,837 1,897,015 North Dakota 5 11,451,560 11,351,676 2,270,335 Ohio 10 55,766,091 55,820,203 5,582,020 Other 11 13,805,340 13,716,132 1,246,921 Total revenue bonds 145 $ 337,263,493 $ 337,347,285 $ 2,326,533 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Indiana 22 $ 47,994,737 $ 47,582,138 $ 2,162,824 Iowa 31 70,788,393 71,142,393 2,294,916 Kansas 6 13,476,366 13,427,491 2,237,915 Missouri 47 90,784,441 89,664,013 1,907,745 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 As of December 31, 2017 2016, not 5% 2, The Company ’s municipal securities are owned by each of the four December 31, 2017, As of December 31, 2017, not |
Note 4 - Loans Leases Receivabl
Note 4 - Loans Leases Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 4. The composition of the loan/lease portfolio as of December 31, 2017 2016 2017 2016 C&I loans $ 1,134,516,315 $ 827,637,263 CRE loans Owner-occupied CRE 332,742,477 332,387,621 Commercial construction, land development, and other land 186,402,404 165,149,491 Other non owner-occupied CRE 784,347,000 595,921,748 1,303,491,882 1,093,458,860 Direct financing leases * 141,448,232 165,419,360 Residential real estate loans ** 258,646,265 229,233,104 Installment and other consumer loans 118,610,799 81,665,695 2,956,713,493 2,397,414,282 Plus deferred loan/lease origination costs, net of fees 7,771,907 8,072,703 2,964,485,400 2,405,486,985 Less allowance (34,355,728 ) (30,757,448 ) $ 2,930,129,672 $ 2,374,729,537 * Direct financing leases: Net minimum lease payments to be received $ 156,583,887 $ 184,274,802 Estimated unguaranteed residual values of leased assets 929,932 1,085,154 Unearned lease/residual income (16,065,587 ) (19,940,596 ) 141,448,232 165,419,360 Plus deferred lease origination costs, net of fees 4,624,027 5,881,778 146,072,259 171,301,138 Less allowance (2,382,098 ) (3,111,898 ) $ 143,690,161 $ 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 and 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. At December 31, 2017, 10 $929,932 not December 31, 2016, 13 $1,085,164 not no December 31, 2017, 2016, 2015. * *Includes residential real estate loans held for sale totaling $645,001 $1,135,500 December 31, 2017 2016, Changes in accretable yield for the loans acquired in the CSB and Guaranty Bank acquisitions are as follows: For the year ended December 31, 2017 PCI Performing Loans Loans Total Balance at the beginning of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) Discount added at acquisition (219,902 ) (2,223,989 ) (2,443,891 ) Accretion recognized 223,076 5,059,528 5,282,604 Balance at the end of the period $ (191,132 ) $ (6,280,075 ) $ (6,471,207 ) For the year ended December 31, 2016 PCI Performing Loans Loans Total Balance at the beginning of the period $ - $ - $ - Discount added at acquisition (277,579 ) (11,916,009 ) (12,193,588 ) Accretion recognized 83,273 2,800,395 2,883,668 Balance at the end of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) The aging of the loan/lease portfolio by classes of loan s/leases as of December 31, 2017 2016 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 $ 1,124,734,486 $ 8,306,829 $ 243,647 $ - $ 1,231,353 $ 1,134,516,315 CRE Owner-Occupied CRE 331,868,142 540,435 - - 333,900 332,742,477 Commercial Construction, Land Development, and Other Land 181,558,092 - - - 4,844,312 186,402,404 Other Non Owner-Occupied CRE 782,526,249 572,877 4,146 - 1,243,728 784,347,000 Direct Financing Leases 137,708,397 1,305,191 259,600 - 2,175,044 141,448,232 Residential Real Estate 253,261,821 3,552,709 393,410 74,519 1,363,806 258,646,265 Installment and Other Consumer 117,773,259 517,537 56,760 14,152 249,091 118,610,799 $ 2,929,430,446 $ 14,795,578 $ 957,563 $ 88,671 $ 11,441,234 $ 2,956,713,493 As a percentage of total loan/lease portfolio 99.08 % 0.50 % 0.03 % 0.00 % 0.39 % 100.00 % 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 December 31, 2017 2016 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 $ - $ 1,231,353 $ 5,224,182 $ 6,455,535 34.63 % CRE Owner-Occupied CRE - 333,900 107,322 441,222 2.37 % Commercial Construction, Land Development, and Other Land - 4,844,312 - 4,844,312 25.99 % Other Non Owner-Occupied CRE - 1,243,728 - 1,243,728 6.67 % Direct Financing Leases - 2,175,044 1,494,448 3,669,492 19.68 % Residential Real Estate 74,519 1,363,806 272,493 1,710,818 9.18 % Installment and Other Consumer 14,152 249,091 14,027 277,270 1.49 % $ 88,671 $ 11,441,234 $ 7,112,472 $ 18,642,377 100.00 % * At December 31, 2017, $2,282,495 $122,598 $1,336,871 $700,255 $115,190 $7,581 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 % * * At December 31, 2016, $2,300,479 $48,501 $1,380,047 $816,149 $43,579 $12,203 Changes in the allowance by portfolio segment for the years ended December 31, 2017, 2016, 2015 Year Ended December 31, 2017 C&I CRE 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 charged to expense 2,736,296 4,044,460 1,369,624 197,034 122,505 8,469,919 Loans/leases charged off (1,149,790 ) (1,795,229 ) (2,284,910 ) (102,088 ) (41,196 ) (5,373,213 ) Recoveries on loans/leases previously charged off 191,420 42,848 185,486 29,141 52,679 501,574 Balance, ending $ 14,323,036 $ 13,962,688 $ 2,382,098 $ 2,466,431 $ 1,221,475 $ 34,355,728 Year Ended December 31, 2016 C&I CRE 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 2,478,912 2,286,953 2,127,463 628,114 (43,276 ) 7,478,166 Loans/leases charged off (527,152 ) (24,304 ) (2,503,417 ) (76,820 ) (112,490 ) (3,244,183 ) Recoveries on loans/leases previously charged off 109,270 32,843 92,764 900 146,782 382,559 Balance, ending $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Year Ended December 31, 2015 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 8,833,832 $ 8,353,386 $ 3,359,400 $ 1,525,952 $ 1,001,795 $ 23,074,365 Provisions charged to expense 1,470,526 3,080,611 1,688,031 430,087 201,645 6,870,900 Loans/leases charged off (453,782 ) (2,560,749 ) (1,788,772 ) (169,996 ) (251,838 ) (5,225,137 ) Recoveries on loans/leases previously charged off 633,504 501,869 136,429 4,107 144,869 1,420,778 Balance, ending $ 10,484,080 $ 9,375,117 $ 3,395,088 $ 1,790,150 $ 1,096,471 $ 26,140,906 The allowance by impairment evaluation and by portfolio segment as of December 31, 2017 2016 2017 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 715,627 $ 1,429,460 $ 504,469 $ 355,167 $ 38,596 $ 3,043,319 Allowance for nonimpaired loans/leases 13,607,409 12,533,228 1,877,629 2,111,264 1,182,879 31,312,409 $ 14,323,036 $ 13,962,688 $ 2,382,098 $ 2,466,431 $ 1,221,475 $ 34,355,728 Impaired loans/leases $ 6,248,209 $ 6,529,262 $ 3,669,492 $ 1,704,846 $ 202,354 $ 18,354,163 Nonimpaired loans/leases 1,128,268,106 1,296,962,620 137,778,740 256,941,419 118,408,445 2,938,359,330 $ 1,134,516,315 $ 1,303,491,882 $ 141,448,232 $ 258,646,265 $ 118,610,799 $ 2,956,713,493 Allowance as a percentage of impaired loans/leases 11.45 % 21.89 % 13.75 % 20.83 % 19.07 % 16.58 % Allowance as a percentage of nonimpaired loans/leases 1.21 % 0.97 % 1.36 % 0.82 % 1.00 % 1.07 % Total allowance as a percentage of total loans/leases 1.26 % 1.07 % 1.68 % 0.95 % 1.03 % 1.16 % 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 years ended December 31, 2017, 2016, 2015 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 $ 1,634,269 $ 1,644,706 $ - $ 1,406,310 $ 71,183 $ 71,183 CRE Owner-Occupied CRE 289,261 289,261 - 79,317 11,902 11,902 Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,171,565 1,171,565 - 1,176,738 - - Direct Financing Leases 2,944,540 2,944,540 - 2,879,695 132,167 132,167 Residential Real Estate 943,388 1,018,167 - 685,807 1,161 1,161 Installment and Other Consumer 134,245 134,245 - 126,474 - - $ 7,117,268 $ 7,202,484 $ - $ 6,354,341 $ 216,413 $ 216,413 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 4,613,940 $ 4,617,879 $ 715,627 $ 4,584,142 $ 203,221 $ 203,221 CRE Owner-Occupied CRE 151,962 151,962 48,462 221,260 - - Commercial Construction, Land Development, and Other Land 4,844,312 4,844,312 1,379,235 4,447,831 - - Other Non Owner-Occupied CRE 72,163 72,163 1,763 44,667 - - Direct Financing Leases 724,953 724,953 504,469 625,107 - - Residential Real Estate 761,458 761,458 355,167 549,286 14,990 14,990 Installment and Other Consumer 68,109 68,109 38,596 40,152 410 410 $ 11,236,897 $ 11,240,836 $ 3,043,319 $ 10,512,445 $ 218,621 $ 218,621 Total Impaired Loans/Leases: C&I $ 6,248,209 $ 6,262,585 $ 715,627 $ 5,990,452 $ 274,404 $ 274,404 CRE Owner-Occupied CRE 441,222 441,222 48,462 300,577 11,902 11,902 Commercial Construction, Land Development, and Other Land 4,844,312 4,844,312 1,379,235 4,447,831 - - Other Non Owner-Occupied CRE 1,243,728 1,243,728 1,763 1,221,405 - - Direct Financing Leases 3,669,492 3,669,492 504,469 3,504,802 132,167 132,167 Residential Real Estate 1,704,846 1,779,625 355,167 1,235,093 16,151 16,151 Installment and Other Consumer 202,354 202,354 38,596 166,626 410 410 $ 18,354,163 $ 18,443,318 $ 3,043,319 $ 16,866,786 $ 435,034 $ 435,034 Impaired loans/leases for which no ’s current estimates. 2016 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 $ 841,895 $ 951,600 $ - $ 2,858,343 $ 16,748 $ 16,748 CRE Owner-Occupied CRE - 93,774 - 312,242 - - Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,196,549 1,196,549 - 1,322,654 - - Direct Financing Leases 1,690,121 1,690,121 - 1,731,982 43,461 43,461 Residential Real Estate 853,294 892,495 - 964,590 9,903 9,903 Installment and Other Consumer 55,734 55,734 - 321,175 4,475 4,475 $ 4,637,593 $ 4,880,273 $ - $ 7,510,986 $ 74,587 $ 74,587 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 8,094,556 $ 8,098,395 $ 1,771,537 $ 2,959,495 $ 17,742 $ 17,742 CRE Owner-Occupied CRE 322,148 322,148 57,398 385,269 - - Commercial Construction, Land Development, and Other Land 4,353,817 4,353,819 577,611 1,022,930 - - Other Non Owner-Occupied CRE 239,600 239,600 58,910 47,920 - - Direct Financing Leases 1,566,143 1,566,143 848,919 841,733 36,303 36,303 Residential Real Estate 807,886 882,018 289,112 573,211 11,675 11,675 Installment and Other Consumer 50,356 50,356 39,481 40,384 527 527 $ 15,434,506 $ 15,512,479 $ 3,642,968 $ 5,870,942 $ 66,247 $ 66,247 Total Impaired Loans/Leases: C&I $ 8,936,451 $ 9,049,995 $ 1,771,537 $ 5,817,838 $ 34,490 $ 34,490 CRE Owner-Occupied CRE 322,148 415,922 57,398 697,511 - - Commercial Construction, Land Development, and Other Land 4,353,817 4,353,819 577,611 1,022,930 - - Other Non Owner-Occupied CRE 1,436,149 1,436,149 58,910 1,370,574 - - Direct Financing Leases 3,256,264 3,256,264 848,919 2,573,715 79,764 79,764 Residential Real Estate 1,661,180 1,774,513 289,112 1,537,801 21,578 21,578 Installment and Other Consumer 106,090 106,090 39,481 361,559 5,002 5,002 $ 20,072,099 $ 20,392,752 $ 3,642,968 $ 13,381,928 $ 140,834 $ 140,834 Impaired loans/leases for which no ’s current estimates. 2015 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 $ 234,636 $ 346,072 $ - $ 380,495 $ 7,436 $ 7,436 CRE Owner-Occupied CRE 256,761 350,535 - 447,144 - - Commercial Construction, Land Development, and Other Land - 228,818 - 117,406 - - Other Non Owner-Occupied CRE 1,578,470 1,578,470 - 2,953,888 - - Direct Financing Leases 871,884 871,884 - 892,281 4,142 4,142 Residential Real Estate 613,486 649,064 - 1,047,001 3,929 3,929 Installment and Other Consumer 377,304 377,304 - 817,854 9,563 9,563 $ 3,932,541 $ 4,402,147 $ - $ 6,656,069 $ 25,070 $ 25,070 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 5,051,846 $ 5,055,685 $ 2,592,270 $ 4,811,046 $ - $ - CRE Owner-Occupied CRE - - - - - - Commercial Construction, Land Development, and Other Land 193,804 205,804 76,934 195,986 - - Other Non Owner-Occupied CRE - - - - - - Direct Financing Leases 829,457 829,457 306,193 474,458 - - Residential Real Estate 805,301 805,301 185,801 712,085 7,913 7,913 Installment and Other Consumer 210,438 210,438 143,089 189,539 5,693 5,693 $ 7,090,846 $ 7,106,685 $ 3,304,287 $ 6,383,114 $ 13,606 $ 13,606 Total Impaired Loans/Leases: C&I $ 5,286,482 $ 5,401,757 $ 2,592,270 $ 5,191,541 $ 7,436 $ 7,436 CRE Owner-Occupied CRE 256,761 350,535 - 447,144 - - Commercial Construction, Land Development, and Other Land 193,804 434,622 76,934 313,392 - - Other Non Owner-Occupied CRE 1,578,470 1,578,470 - 2,953,888 - - Direct Financing Leases 1,701,341 1,701,341 306,193 1,366,739 4,142 4,142 Residential Real Estate 1,418,787 1,454,365 185,801 1,759,086 11,842 11,842 Installment and Other Consumer 587,742 587,742 143,089 1,007,393 15,256 15,256 $ 11,023,387 $ 11,508,832 $ 3,304,287 $ 13,039,183 $ 38,676 $ 38,676 Impaired loans/leases for which no ’s current estimates. For C&I and CRE loans, the Company’s credit quality indicator is internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 15 1 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 i ndicator as of December 31, 2017 2016: 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) $ 1,098,722,101 $ 318,293,608 $ 179,142,839 $ 767,119,909 $ 2,363,278,457 96.94 % Special Mention (Rating 6) 10,944,924 8,230,060 1,780,000 10,068,870 31,023,854 1.27 % Substandard (Rating 7) 24,578,731 6,218,809 5,479,565 7,158,221 43,435,326 1.78 % Doubtful (Rating 8) 270,559 - - - 270,559 0.01 % $ 1,134,516,315 $ 332,742,477 $ 186,402,404 $ 784,347,000 $ 2,438,008,197 100.00 % 2017 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 137,778,740 $ 256,935,448 $ 118,333,529 $ 513,047,716 98.91 % Nonperforming 3,669,492 1,710,818 277,270 5,657,580 1.09 % $ 141,448,232 $ 258,646,265 $ 118,610,799 $ 518,705,296 100.00 % 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 % 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 . Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 As of December 31, 2017 2016, $9,394,967 $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 years ended December 31, 2017 2016. December 31, 2017 2016, 2017 Classes of Loans/Leases Number of Loans / Leases Pre- Modification Recorded Investment Post- Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity Direct Financing Leases 3 $ 115,236 $ 115,236 $ - 3 $ 115,236 $ 115,236 $ - CONCESSION - Significant Payment Delay C&I 7 $ 826,531 $ 826,531 $ 62,596 CRE - Owner Occupied 1 $ 107,322 $ 107,322 - Direct Financing Leases 24 1,703,255 1,703,255 - 32 $ 2,637,108 $ 2,637,108 $ 62,596 TOTAL 35 $ 2,752,344 $ 2,752,344 $ 62,596 2016 Classes of Loans/Leases Number of Loans/Leases Pre- Modification Recorded Investment Post- Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity C&I 3 $ 247,476 $ 247,476 $ 60,767 Direct Financing Leases 4 410,653 410,653 38,476 Residential Real Estate 1 277,092 277,092 187,492 8 $ 935,221 $ 935,221 $ 286,735 CONCESSION - Significant Payment Delay C&I 7 $ 4,562,427 $ 4,562,427 $ 813,041 Direct Financing Leases 13 1,149,493 1,149,493 125,940 20 $ 5,711,920 $ 5,711,920 $ 938,981 CONCESSION - Interest Rate Adjusted Below Market CRE - Other 1 $ 1,233,740 $ 1,233,740 $ - 1 $ 1,233,740 $ 1,233,740 $ - TOTAL 29 $ 7,880,881 $ 7,880,881 $ 1,225,716 Of the TDRs reported above, seven $279,245 December 31, 2017 eight $2,008,424 December 31, 2016. For the year ended December 31, 2017, six $251,940 12 90 December 31, 2016, no 12 Not he Company had two 2017, $65,623. three 2016, $341,952. Loans are made in the normal course of business to directors, executive officers, and their related interests. The terms of these loans, including interest rates and collateral, are similar to those prevailing for comparable transactions with other persons. An analysis of the changes in the aggregate committed amount of loans greater than or equal to $60,000 December 31, 2017, 2016, 2015, 2017 2016 2015 Balance, beginning $ 61,608,976 $ 42,012,313 $ 42,469,111 Net increase (decrease) due to change in related parties 11,926,759 19,945,960 (3,606,418 ) Advances 13,090,798 4,806,616 19,040,675 Repayments (20,184,585 ) (5,155,913 ) (15,891,055 ) Balance, ending $ 66,441,948 $ 61,608,976 $ 42,012,313 The Company ’s loan portfolio includes a geographic concentration in the Midwest. Additionally, the loan portfolio includes a concentration of loans in certain industries as of December 31, 2017 2016 2017 2016 Industry Name Balance Percentage of Total Loans/Leases Balance Percentage of Total Loans/Leases Lessors of Non-Residential Buildings $ 400,622,681 14 % $ 359,040,649 15 % Lessors of Residential Buildings 370,353,561 12 % 166,036,201 7 % Administration of Urban Planning & Community & Rural Development 83,343,541 3 % 37,097,000 2 % Bank Holding Companies 66,950,294 2 % 66,069,612 3 % Nonresidential Property Managers 51,984,722 2 % 76,504,076 3 % Concentrations within the leasing portfolio are monitored by equipment type – none 50 No |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. The following summarizes the components of premises and equipment as of December 31, 2017 2016: 2017 2016 Land $ 13,466,930 $ 12,936,223 Buildings (useful lives 15 to 50 years) 53,633,788 51,546,499 Furniture and equipment (useful lives 3 to 10 years) 31,984,631 28,458,946 Premises and equipment 99,085,349 92,941,668 Less accumulated depreciation 36,247,094 32,298,160 Premises and equipment, net $ 62,838,255 $ 60,643,508 Certain facilities are leased under operating leases. Rental expense was $348,467, $334,977, $339,839 December 31, 2017, 2016, 2015, Future minimum rental commitments under noncancelable leases are as follows as of December 31, 2017: Year ending December 31: 2018 363,791 2019 355,727 2020 259,798 2021 159,708 2022 91,969 Thereafter 62,858 $ 1,293,851 During 2016, n entity that is owned and controlled by a CRBT director. That business was chosen as the general contractor for the remodel of the Waterloo branch. The business was the original contractor for the branch and is recognized as a leader in Iowa and the Midwest market for the design and construction of financial services and professional office buildings. Based on the entity’s expertise, its experience as the original designer/builder of the branch location and a decline to bid from two The project total was estimated at $3.7 $2.2 December 31, 2017, no |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangibles | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 6 . Goodwill and Intangibles The following table presents the changes in the carrying amount of goodwill as of December 31, 2017 2016: 2017 2016 Balance at the beginning of period $ 13,110,913 $ 3,222,688 Goodwill from acquisition of Guaranty Bank 15,223,179 - Goodwill from acquisition of CSB - 9,888,225 Balance at the end of period $ 28,334,092 $ 13,110,913 The following table presents the changes in the carrying amount of core deposit intangibles, gross carrying amount, accumulated amortization, and net book value as of December 31, 2017 2016: 2017 2016 Balance at the beginning of the period $ 7,381,213 $ 1,471,410 Core deposit intangible from acquisition of Guaranty Bank 2,698,301 - Core deposit intangible from acquisition of CSB - 6,352,653 Amortization expense (1,000,561 ) (442,850 ) Balance at the end of the period $ 9,078,953 $ 7,381,213 Gross carrying amount $ 11,046,081 $ 8,347,780 Accumulated amortization (1,967,128 ) (966,567 ) Net book value $ 9,078,953 $ 7,381,213 The following table presents the estimated amortization of the core deposit intangible: Years ending December 31, Amount 2018 $ 1,218,202 2019 1,196,331 2020 1,169,934 2021 1,139,012 2022 1,103,565 Thereafter 3,251,909 $ 9,078,953 See Note 2 s of CSB and Guaranty Bank and the related goodwill and core deposit intangible. |
Note 7 - Derivatives and Hedgin
Note 7 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 7. Below is a summary of the interest rate cap derivatives held by the Company as of December 31, 2017 2016. $2.1 two Effective Date Maturity Date Balance Sheet Location Notional Amount Accounting Treatment December 31, 2017 Fair Value December 31, 2016 Fair Value June 5, 2014 June 5, 2019 Other Assets $ 15,000,000 Cash Flow Hedging $ 190,085 $ 179,939 June 5, 2014 June 5, 2021 Other Assets 15,000,000 Cash Flow Hedging 316,615 396,588 $ 30,000,000 $ 506,700 $ 576,527 Changes in the fair values of derivative financial instruments accounted for as cash flow hedges to the extent they are effective hedges, are recorded as a component of accumulated other comprehensive income. The following is a summary of how AOCI was impacted during the reporting periods: Year Ended December 31, 2017 December 31, 2016 Unrealized loss at beginning of period, net of tax $ (932,156 ) $ (799,421 ) Amount reclassified from accumulated other comprehensive income to noninterest income related to hedge ineffectiveness - (76,797 ) Amount reclassified from accumulated other comprehensive income to noninterest expense related to hedge ineffectiveness 79,757 - Amount reclassified from accumulated other comprehensive income to interest expense related to caplet amortization 405,134 152,087 Amount of loss recognized in other comprehensive income, net of tax (357,762 ) (208,025 ) Unrealized loss at end of period, net of tax $ (805,027 ) $ (932,156 ) Changes in the fair value related to the ineffective portion of cash flow hedges, are reported in noninterest income during the period of the change. As shown in the table above, $79,757 $76,797 December 31, 2017 2016, |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 8. The aggregate amount of certificates of deposit, each with a minimum denomination of $ 250,000, $364,329,340 $300,852,485 December 31, 2017 2016, As of December 31, 2017, Year ending December 31: 2018 $ 478,334,220 2019 86,231,955 2020 18,143,039 2021 8,223,919 2022 5,071,695 Thereafter 67,050 $ 596,071,878 The Company had a $35.0 $10.1 December 31, 2017. December 31, 2016, $40.0 $7.0 no December 31, 2017 2016. |
Note 9 - Short-term Borrowings
Note 9 - Short-term Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 9. Short-term borrowings as of December 31, 2017 2016 2017 2016 Overnight repurchase agreements with customers $ 7,003,122 $ 8,131,387 Federal funds purchased 6,990,000 31,840,000 $ 13,993,122 $ 39,971,387 The Company ’s overnight repurchase agreements with customers are collateralized by investment securities with carrying values as follows: 2017 2016 U.S. govt. sponsored agency securities $ 2,077,702 $ 630,077 Residential mortgage-backed and related securities 18,816,280 19,090,261 Total securities pledged to overnight customer repurchase agreements 20,893,982 19,720,338 Less: overcollateralized position 13,890,860 11,588,951 $ 7,003,122 $ 8,131,387 Inherent in the overnight purchase agreements is a risk that the fair value of the collateral pledged on the agreements could decline below the amount obligated under our customer repurchase agreements. The Company considers this risk minimal. The Company monitors balances daily to ensure that collateral is sufficient to meet obligations. Additionally, the Company maintains an overcollateralized position that is sufficient to cover any minor interest rate movements. The securities underlying the agreements as of December 31, 2017 2016 third Information concerning overnight repurchase agreements with customers is summarized as follows as of December 31, 2017 2016: 2017 2016 Average daily balance during the period $ 7,475,824 $ 30,082,866 Average daily interest rate during the period 0.08 % 0.07 % Maximum month-end balance during the period $ 11,829,201 $ 59,833,229 Weighted average rate as of end of period 0.15 % 0.02 % Information concerning federal funds purchased is summarized as follows as of December 31, 2017 2016: 2017 2016 Average daily balance during the period $ 13,486,239 $ 19,105,595 Average daily interest rate during the period 1.31 % 0.56 % Maximum month-end balance during the period $ 33,650,000 $ 51,750,000 Weighted average rate as of end of period 1.24 % 0.70 % |
Note 10 - FHLB Advances
Note 10 - FHLB Advances | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | 10 . FHLB Advances The subsidiary banks are members of the FHLB of Des Moines or Chicago. Maturity and interest rate information on advances from FHLB as of December 31, 2017 2016 December 31, 2017 December 31, 2016 Weighted Weighted Average Average Interest Rate Interest Rate Amount Due at Year-End Amount Due at Year-End Maturity: Year ending December 31: 2017 $ - - $ 112,500,000 0.78 % 2018 190,400,000 1.82 25,000,000 3.35 2020 1,600,000 1.75 - - Total FHLB advances $ 192,000,000 1.82 % $ 137,500,000 1.25 % *Of the advances outstanding, a portion have putable options which allow the FHLB, at its discretion, to terminate the advances and require the subsidiary banks to repay at predetermined dates prior to the stated maturity date of the advances. Advances are collateralized by loans of $ 850,115,910 $669,513,037 December 31, 2017 2016, 125% 333% $6,690,525 December 31, 2017, December 31, 2016, no As of December 31, 2017 2018 $165.4 1 1 $104.5 December 31, 2016 1 1 Throughout 2016, December 31, 2016: 2016 Date of Restructuring Amount Weighted Average Interest Rate Range of Maturity Dates Prepayment Fees First Quarter of 2016 $ 10,000,000 3.86 % December 2017 $ 524,197 Third Quarter of 2016 5,000,000 2.84 % February 2018 127,310 Fourth Quarter of 2016 15,000,000 3.14 % September 2017 to November 2017 357,161 Total for 2016 $ 30,000,000 3.33 % $ 1,008,668 All prepayment fees shown in the table above are included in losses on debt extinguishment in the statements of income. As of December 31, 2017 2016, $11,676,700 $9,271,300, |
Note 11 - Other Borrowings and
Note 11 - Other Borrowings and Unused Lines of Credit | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Other borrowings as of December 31, 2017 2016 2017 2016 Wholesale structured repurchase agreements $ 35,000,000 $ 45,000,000 Term notes 31,000,000 30,000,000 Revolving line of credit - 5,000,000 $ 66,000,000 $ 80,000,000 The Company ’s wholesale structured repurchase agreements are collateralized by investment securities with carrying values as follows: 2017 2016 U.S. govt. sponsored agency securities $ 3,474,555 $ 20,798,703 Residential mortgage-backed and related securities 61,528,167 31,321,028 Total securities pledged to wholesale customer repurchase agreements 65,002,722 52,119,731 Less: overcollateralized position 30,002,722 7,119,731 $ 35,000,000 $ 45,000,000 Inherent in the wholesale structured repurchase agreements is a risk that the fair value of the collateral pledged on the agreements could decline below the amount obligated under the agreements. The Company considers this risk minimal. The Company maintains an overcollateralized position that is sufficient to cover any minor interest rate movements. Throughout 2016, December 31, 2016: 2016 Date of Restructuring Amount Weighted Average Interest Rate Range of Maturity Dates Prepayment Fees First Quarter of 2016 $ 10,000,000 3.97 % July 2018 $ 759,000 Third Quarter of 2016 55,000,000 3.27 % February 2019 to September 2020 4,010,000 Total for 2016 $ 65,000,000 3.38 % $ 4,769,000 All prepayment fees shown in the table above are included in losses on debt extinguishment in the statements of income. There were no 2017 2016. Maturity and interest rate information concerning wholesale structured repurchase agreements is summarized as follows: December 31, 2017 December 31, 2016 Weighted Weighted Average Average Interest Rate Interest Rate Amount Due at Year-End Amount Due at Year-End Maturity: Year ending December 31: 2017 $ - - $ 10,000,000 3.00 % 2019 10,000,000 3.44 10,000,000 3.44 2020 25,000,000 2.48 25,000,000 2.48 Total Wholesale Structured Repurchase Agreements $ 35,000,000 2.76 % $ 45,000,000 2.81 % The Company has two s. The first December 31, 2021. $24.0 $30.0 December 31, 2017 2016, 3.00% 4.56% 3.77% December 31, 2017 2016, second $7.0 third 2017 December 31, 2021 3.00% 4.56% December 31, 2017). The Company has a $10.0 available for which there is no December 31, 2017. 2.50% 4.06% December 31, 2017). For the term note s, the Company is required to make quarterly principal payments of $1,937,500 December 31, 2017, As of December 31, 2017 2018 $ 7,750,000 2019 7,750,000 2020 7,750,000 2021 7,750,000 $ 31,000,000 Unused lines of credit of the subsidiary banks as of December 31, 2017 2016 2017 2016 Secured $ 2,967,441 $ 34,409,192 Unsecured 372,000,000 347,000,000 $ 374,967,441 $ 381,409,192 T he Company pledges the eligible portion of its municipal securities portfolio and select C&I and CRE loans to the Federal Reserve Bank of Chicago for borrowing at the Discount Window . |
Note 12 - Junior Subordinated D
Note 12 - Junior Subordinated Debentures | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | 1 2 . Junior Subordinated Debentures Junior subordinated debentures are summarized as of December 31, 2017 2016 2017 2016 Note Payable to QCR Holdings Capital Trust II $ 10,310,000 $ 10,310,000 Note Payable to QCR Holdings Capital Trust III 8,248,000 8,248,000 Note Payable to QCR Holdings Capital Trust V 10,310,000 10,310,000 Note Payable to Community National Trust II 3,093,000 3,093,000 Note Payable to Community National Trust III 3,609,000 3,609,000 Note Payable to Guaranty Bankshares Statutory Trust I* 4,640,000 - Market Value Discount per ASC 805** (2,723,513 ) (2,089,798 ) $ 37,486,487 $ 33,480,202 * As part of the acquisition of Guaranty Bank, the Company assumed one $3,857,275. ** Discount on junior subordinated debt acquired in 2013 2017 A schedule of the Company ’s non-consolidated subsidiaries formed for the issuance of trust preferred securities, including the amounts outstanding as of December 31, 2017 2016, Name Date Issued Amount Outstanding December 31, 2017 Amount Outstanding December 31, 2016 Interest Rate Interest Rate as of December 31, 2017 Interest Rate as of December 31, 2016 QCR Holdings Statutory Trust II* February 2004 $ 10,310,000 $ 10,310,000 2.85% over 3-month LIBOR 4.54% 3.85% QCR Holdings Statutory Trust III February 2004 8,248,000 8,248,000 2.85% over 3-month LIBOR 4.54% 3.85% QCR Holdings Statutory Trust V February 2006 10,310,000 10,310,000 1.55% over 3-month LIBOR 2.91% 2.43% Community National Statutory Trust II September 2004 3,093,000 3,093,000 2.17% over 3-month LIBOR 3.80% 3.17% Community National Statutory Trust III March 2007 3,609,000 3,609,000 1.75% over 3-month LIBOR 3.32% 2.71% Guaranty Bankshares Statutory Trust I May 2005 4,640,000 - 1.75% over 3-month LIBOR 3.34% N/A $ 40,210,000 $ 35,570,000 Weighted Average Rate 3.82% 3.26% *Original amount issued for QCR Holdings Statutory Trust II was $12,372,000. Securities issued by all of the trusts listed above mature 30 During 2015, acquired and extinguished $2.1 $300,000 2.85% 3.18% In 2016, $5.1 $1.2 through auction. This gain is included within the overall net losses on debt extinguishments in the statements of income for 2016. 3 1.80% 2.42% |
Note 13 - Federal and State Inc
Note 13 - Federal and State Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. Federal and state income tax expense was comprised of the following components for the years ended December 31, 2017, 2016, 2015: 2017 2016 2015 Current $ 10,976,005 $ 11,969,194 $ 5,673,774 Deferred (6,029,555 ) (3,066,407 ) (2,004,532 ) $ 4,946,450 $ 8,902,787 $ 3,669,242 A reconciliation of the expected federal income tax expense to the income tax expense included in the consolidated statements of income was as follows for the years ended December 31, 2017, 2016, 2015: Years Ended December 31, 2017 2016 2015 % of % of % of Pretax Pretax Pretax Amount Income Amount Income Amount Income Computed "expected" tax expense $ 14,228,535 35.0 % $ 12,806,351 35.0 % $ 7,208,993 35.0 % Effect of graduated tax rates - - (250,013 ) (0.7 ) (76,973 ) (0.4 ) Tax exempt income, net (5,653,979 ) (13.9 ) (4,343,270 ) (11.9 ) (3,461,438 ) (16.8 ) Bank-owned life insurance (630,855 ) (1.5 ) (619,988 ) (1.7 ) (616,737 ) (3.0 ) State income taxes, net of federal benefit, current year 1,764,671 4.3 1,245,524 3.4 767,557 3.7 Change in unrecognized tax benefits (53,699 ) (0.1 ) 121,008 0.3 223,668 1.1 New Markets Tax Credits and other credits (341,268 ) (0.8 ) (180,000 ) (0.5 ) (180,000 ) (0.9 ) Acquisition costs - - 176,050 0.5 - - Excess tax benefit on stock options exercised and restricted stock awards vested (1,219,483 ) (3.0 ) - - - - Re-measurement of deferred tax asset to incorporate newly enacted tax rates (2,918,606 ) (7.2 ) - - - - Other (228,866 ) (0.6 ) (52,875 ) (0.1 ) (195,828 ) (0.9 ) $ 4,946,450 12.2 % $ 8,902,787 24.3 % $ 3,669,242 17.8 % Changes in the unrecognized tax benefits included in other liabilities are as follows for the years ended December 31, 2017 2016: 2017 2016 Balance, beginning $ 1,346,967 $ 1,225,959 Impact of tax positions taken during current year 333,253 319,047 Gross increase (decrease) related to tax positions of prior years (40,584 ) 17,789 Reduction as a result of a lapse of the applicable statute of limitations (346,368 ) (215,828 ) Balance, ending $ 1,293,268 $ 1,346,967 Included in the unrecognized tax benefits liability at December 31, 2017 $1,143,000 The liability for unrecognized tax benefits includes accrued interest for tax positions, which either do not not December 31, 2017 2016, $150,000 $223,000, The Company ’s federal income tax returns are open and subject to examination from the 2014 2013 The net deferred tax assets consisted of the following as of December 31, 2017 2016: 2017 2016 Deferred tax assets: Alternative minimum tax credits $ 6,513,502 $ 6,513,502 New markets tax credits 2,164,727 1,797,587 Net unrealized losses on securities available for sale and derivative instruments 498,860 1,470,759 Compensation 6,282,603 8,737,976 Loan/lease losses 8,029,714 10,479,227 Net operating loss carryforwards, federal and state 959,627 1,879,746 Other 34,962 247,594 24,483,995 31,126,391 Deferred tax liabilities: Premises and equipment 2,400,397 4,899,107 Equipment financing leases 15,367,705 22,050,540 Acquisition fair value adjustments 1,864,599 1,336,338 Investment accretion 30,656 46,581 Deferred loan origination fees, net 115,153 261,915 Other 430,125 456,219 20,208,635 29,050,700 Net deferred tax assets $ 4,275,360 $ 2,075,691 At December 31, 2017, $4.6 2029 2033. December 31, 2017, $2.1 2023 2028. The change in deferred income taxes was reflected in the consolidated financial statements as follows for the years ended December 31, 2017, 2016, 2015: 2017 2016 2015 Provision for income taxes $ (6,029,555 ) $ (3,066,407 ) $ (2,004,532 ) Net deferred tax asset acquired - (3,310,553 ) - Net deferred tax asset resulting from market value adjustments of acquisitions 243,195 5,110,015 - Re-measurement of deferred tax asset to incorporate newly enacted tax rates 2,918,606 - - Statement of stockholders' equity- Other comprehensive income (loss) 668,085 (202,691 ) (81,524 ) $ (2,199,669 ) $ (1,469,636 ) $ (2,086,056 ) The Tax Act was enacted on December 22, 2017 35% 21%. As a result, the Company revalued the deferred tax assets and liabilities to reflect the lower federal corporate tax rate, which resulted in the Company recognizing a benefit of $2.9 fourth 2017. not |
Note 14 - Employee Benefit Plan
Note 14 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 14. The Company has a profit sharing plan which includes a provision designed to qualify under Section 401 1986, 100% first 3% 50% 3% 4.5% may December 31, 2017, 2016, 2015 2017 2016 2015 Matching contribution $ 1,663,198 $ 1,365,111 $ 1,314,276 $ 1,663,198 $ 1,365,111 $ 1,314,276 The Company has entered into nonqualified supplemental executive retirement plans (SERPs) with certain executive officers. The SERPs allow certain executives to accumulate retirement benefits beyond those provided by the qualified plans. During the years ended December 31, 2017, 2016, 2015, $400,784, $322,575, $297,826, December 31, 2017 2016, $4,330,313 $4,093,355, $163,826, $163,825 $163,824 2017, 2016 2015, The Company has entered into deferred compensation agreements with certain executive officers. Under the provisions of the agreements , the officers may $8,000 $25,000 The Wall Street Journal 4% 12% may 4% 10% The Wall Street Journal one 4% not 8%. 180 December 31, 2017 2016, $12,346,935 $10,455,183, Changes in the deferred compensation agreements , included in other liabilities, are as follows for the years ended December 31, 2017, 2016, 2015: 2017 2016 2015 Balance, beginning $ 10,455,183 $ 8,875,025 $ 7,503,692 Employee deferrals 932,921 794,168 693,656 Company match and interest 1,024,933 848,831 726,001 Cash payments made (66,102 ) (62,841 ) (48,324 ) Balance, ending $ 12,346,935 $ 10,455,183 $ 8,875,025 |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 15. The Company ’s Board of Directors adopted in January 2008, May 2008, 2008 “2008 February 2010, May 2010, 2010 “2010 February 2013, May 2013, 2013 “2013 February 2016, May 2016, 2016 “2016 250,000, 350,000, 350,000, 400,000 may The 2008 2010 2013 , and the 2016 December 31, 2017, 351,205 may 2016 The number and exercise price of options granted under the stock option plans are determined by the Committee at the time the option is granted. In no 10 3 7 Stock-based compensation expense was reflected in the consolidated financial statements as follows for the years ended December 31, 2017, 2016, 2015. 2017 2016 2015 Stock options $ 554,435 $ 424,904 $ 393,114 Restricted stock awards 552,907 460,853 492,410 Stock purchase plan 79,694 61,417 55,945 $ 1,187,036 $ 947,174 $ 941,469 Stock options: A summary of the stock option plans as of December 31, 2017, 2016, 2015 December 31, 2017 2016 2015 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding, beginning 587,961 $ 14.83 623,176 $ 13.88 661,771 $ 13.89 Granted 43,250 43.86 76,749 22.92 73,403 17.63 Exercised (114,100 ) 15.12 (111,423 ) 14.97 (79,638 ) 14.70 Forfeited (3,557 ) 26.74 (541 ) 18.36 (32,360 ) 20.69 Outstanding, ending 513,554 17.13 587,961 14.83 623,176 13.88 Exercisable, ending 354,269 385,372 405,832 Weighted average fair value per option granted $ 14.75 $ 7.31 $ 5.11 A further summary of options outstanding as of December 31, 2017 Options Outstanding Weighted Options Exercisable Average Weighted Weighted Remaining Average Average Range of Number Contractual Exercise Number Exercise Exercise Prices Outstanding Life Price Exercisable Price $7.99 to $8.93 27,850 3.06 $ 8.09 27,850 $ 8.09 $9.00 to $9.30 148,755 2.77 9.22 147,955 9.22 $15.00 to $16.85 90,668 4.59 15.63 79,369 15.64 $17.10 to $18.00 132,816 6.57 17.31 81,521 17.26 $21.71 to $31.53 70,215 8.08 22.63 16,273 22.64 $42.65 to $48.50 43,250 9.20 43.86 1,301 42.75 513,554 354,269 Restricted stock awards: A summary of changes in the Company ’s nonvested restricted stock awards as of December 31, 2017, 2016 2015 December 31, 2017 2016 2015 Outstanding, beginning $ 39,438 $ 45,046 $ 49,833 Granted 28,289 22,382 28,846 Released (21,338 ) (27,490 ) (33,633 ) Forfeited - (500 ) - Outstanding, ending $ 46,389 $ 39,438 $ 45,046 Weighted average fair value per share granted $ 44.44 $ 22.64 $ 17.80 The total grant-date fair value of restricted stock awards that were released during the years ended December 31, 2017, 2016 2015 $925,735, $632,255 $598,341, Stock purchase plan: The Company ’s Board of Directors and its stockholders adopted in October 2002 May 2, 2012, January 1, 2017, 187,921 six 90% one $10,000. one 10% December 31, 2017. one 8% December 31, 2016, 2015. December 31, 2017, 2016, 2015 2017 2016 2015 Shares granted 12,414 18,711 23,408 Shares purchased 13,318 20,192 24,033 Weighted average fair value per share granted $ 6.42 $ 3.28 $ 2.39 |
Note 16 - Regulatory Capital Re
Note 16 - Regulatory Capital Requirements and Restrictions on Dividends | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 16. 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 December 31, 2017 2016, Under the regulatory framework for prompt corrective action, t o be categorized as “well capitalized,” an institution must maintain minimum total risk-based, Tier 1 1 1 December 31, 2017 2016 December 31, 2017 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 December 31, 2017: Company: Total risk-based capital $ 383,282 11.15 % $ 275,090 > 8.00 % $ 318,073 > 9.250 % $ 343,862 > 10.00 % Tier 1 risk-based capital 348,530 10.14 % 206,317 > 6.00 249,300 > 7.250 275,090 > 8.00 Tier 1 leverage 348,530 8.98 % 155,256 > 4.00 155,256 > 4.000 194,070 > 5.00 Common equity Tier 1 313,012 9.10 % 154,738 > 4.50 197,721 > 5.750 223,510 > 6.50 Quad City Bank & Trust: Total risk-based capital $ 160,112 12.35 % $ 103,711 > 8.00 % $ 119,916 > 9.250 % $ 129,639 > 10.00 % Tier 1 risk-based capital 147,472 11.38 % 77,783 > 6.00 93,988 > 7.250 103,711 > 8.00 Tier 1 leverage 147,472 9.52 % 61,985 > 4.00 61,985 > 4.000 77,481 > 5.00 Common equity Tier 1 147,472 11.38 % 58,337 > 4.50 74,542 > 5.750 84,265 > 6.50 Cedar Rapids Bank & Trust: Total risk-based capital $ 138,492 11.88 % $ 93,272 > 8.00 % $ 107,846 > 9.250 % $ 116,590 > 10.00 % Tier 1 risk-based capital 126,601 10.86 % 69,954 > 6.00 84,528 > 7.250 93,272 > 8.00 Tier 1 leverage 126,601 11.68 % 43,348 > 4.00 43,348 > 4.000 54,185 > 5.00 Common equity Tier 1 126,601 10.86 % 52,465 > 4.50 67,039 > 5.750 75,783 > 6.50 Community State Bank: Total risk-based capital $ 66,271 11.71 % $ 45,293 > 8.00 % $ 52,370 > 9.250 % $ 56,616 > 10.00 % Tier 1 risk-based capital 61,941 10.94 % 33,970 > 6.00 41,047 > 7.250 45,293 > 8.00 Tier 1 leverage 61,941 9.77 % 25,354 > 4.00 25,354 > 4.000 31,693 > 5.00 Common equity Tier 1 61,941 10.94 % 25,477 > 4.50 32,554 > 5.750 36,801 > 6.50 Rockford Bank & Trust: Total risk-based capital $ 45,684 11.28 % $ 32,413 > 8.00 % $ 37,477 > 9.250 % $ 40,516 > 10.00 % Tier 1 risk-based capital 40,615 10.02 % 24,310 > 6.00 29,374 > 7.250 32,413 > 8.00 Tier 1 leverage 40,615 8.94 % 18,177 > 4.00 18,177 > 4.000 22,721 > 5.00 Common equity Tier 1 40,615 10.02 % 18,232 > 4.50 23,297 > 5.750 26,335 > 6.50 For Capital Adequacy Purposes To Be Well 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 > 8.00 % $ 244,289 > 8.625 % $ 283,233 > 10.00 % Tier 1 risk-based capital 296,366 10.46 % 169,940 > 6.00 187,642 > 6.625 226,587 > 8.00 Tier 1 leverage 296,366 9.10 % 130,229 > 4.00 130,229 > 4.000 162,787 > 5.00 Common equity Tier 1 266,419 9.41 % 127,455 > 4.50 145,157 > 5.125 184,102 > 6.50 Quad City Bank & Trust: Total risk-based capital $ 142,990 12.27 % $ 93,212 > 8.00 % $ 100,494 > 8.625 % $ 116,515 > 10.00 % Tier 1 risk-based capital 129,524 11.12 % 69,909 > 6.00 77,191 > 6.625 93,212 > 8.00 Tier 1 leverage 129,524 9.18 % 56,445 > 4.00 56,445 > 4.000 70,556 > 5.00 Common equity Tier 1 129,524 11.12 % 52,432 > 4.50 59,714 > 5.125 75,735 > 6.50 Cedar Rapids Bank & Trust: Total risk-based capital $ 106,791 12.82 % $ 66,623 > 8.00 % $ 71,828 > 8.625 % $ 83,279 > 10.00 % Tier 1 risk-based capital 96,369 11.57 % 49,968 > 6.00 55,173 > 6.625 66,623 > 8.00 Tier 1 leverage 96,369 10.69 % 36,061 > 4.00 36,061 > 4.000 45,076 > 5.00 Common equity Tier 1 96,369 11.57 % 37,476 > 4.50 42,681 > 5.125 54,132 > 6.50 Community State Bank: Total risk-based capital $ 68,216 13.81 % $ 39,521 > 8.00 % $ 42,609 > 8.625 % $ 49,402 > 10.00 % Tier 1 risk-based capital 66,746 13.51 % 29,641 > 6.00 32,729 > 6.625 39,522 > 8.00 Tier 1 leverage 66,746 11.75 % 22,726 > 4.00 22,726 > 4.000 28,408 > 5.00 Common equity Tier 1 66,746 13.51 % 22,231 > 4.50 25,319 > 5.125 32,111 > 6.50 Rockford Bank & Trust: Total risk-based capital $ 42,007 12.26 % $ 27,410 > 8.00 % $ 29,551 > 8.625 % $ 34,262 > 10.00 % Tier 1 risk-based capital 37,716 11.01 % 20,558 > 6.00 22,699 > 6.625 27,410 > 8.00 Tier 1 leverage 37,716 9.57 % 15,772 > 4.00 15,772 > 4.000 19,716 > 5.00 Common equity Tier 1 37,716 11.01 % 15,418 > 4.50 17,559 > 5.125 22,270 > 6.50 *The minimums under Basel III phase in higher by .625% 1 2019. The fully phased-in minimums are 10.5% 8.5% 1 7.0% 1 The Company ’s ability to pay dividends to its stockholders may The payment of dividends by any financial institution or its holding company is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. Notwithstanding the availability of funds for dividends, however, the Federal Reserve may subsidiary banks if the Federal Reserve determines such payment would constitute an unsafe or unsound practice. The Company also has certain contractual restrictions on its ability to pay dividends. The Company has issued junior subordinated debentures in four and assumed two may not December 31, 2017 2016. T he Company filed a universal shelf registration statement on Form S- 3 October 27, 2016, January 11, 2017. January 31, 2017, $100 $30.1 $100 second 2016 2 3 $100 |
Note 17 - Earnings Per Share
Note 17 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 17. The following information was used in the computation of basic and diluted EPS for the years ended December 31, 2017, 2016, 2015: 2017 2016 2015 Net income attributable to QCR Holdings, Inc. common stockholders $ 35,706,507 $ 27,686,787 $ 16,927,881 EPS attributable to QCR Holdings, Inc. common stockholders Basic $ 2.68 $ 2.20 $ 1.64 Diluted $ 2.61 $ 2.17 $ 1.61 Weighted average common shares outstanding* 13,325,128 12,570,767 10,345,286 Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan** 355,344 195,236 154,555 Weighted average common and common equivalent shares outstanding 13,680,472 12,766,003 10,499,841 * The increase in weighted average common shares outstanding from 2015 2016 ** Excludes anti-dilutive shares of 49,919, 17,739, 36,572 December 31,2017, 2016 2015, |
Note 18 - Commitments and Conti
Note 18 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 18. In the normal course of business, the subsidiary banks make various commitments and incur certain contingent liabilities that are not Commitments to extend credit are agreements to lend to a customer as long as there is no may not may Standby letters of credit are conditional commitments issued by the subsidiary banks to guarantee the performance of a customer to a third one not third December 31, 2017 2016, no As of December 31, 2017 2016, $791,550,060 $666,778,085, December 31, 2017 2016, $17,283,025 $15,697,469, not The Company has also executed contracts for the sale of mortgage loans in the secondary market in the amount of $ 645,001 $1,135,500 December 31, 2017 2016, Residential mortgage loans sold to investors in the secondary market are sold with varying recourse provisions. Essentially, all loan sales agreements require the repurchase of a mortgage loan by the seller in situations such as breach of representation, warranty, or covenant, untimely document delivery, false or misleading statements, failure to obtain certain certificates o f insurance, unmarketability, etc. Certain loan sales agreements contain repurchase requirements based on payment-related defects that are defined in terms of the number of days/months since the purchase, the sequence number of the payment, and/or the number of days of payment delinquency. Based on the specific terms stated in the agreements of investors purchasing residential mortgage loans from the Company’s subsidiary banks, the Company had $300,000 $916,900 December 31, 2017 2016, not December 31, 2017, 2016, 2015. not no Aside from cash on-hand and in-vault, the majority of the Company's cash is maintained at upstream correspondent banks. The total amount of cash on deposit, certificates of deposit, and federal funds sold exceeded federal insured limits by approximately $42.9 $48.5 December 31, 2017 2016, no In an arrangement with Goldman Sachs, CRBT offers a cash management program for select customers. Based on a predetermined minimum balance, which must be maintained in the account, excess funds are automatically swept daily to an institutional money market fund administered by Goldman Sachs. At December 31, 2017 2016, $136,032,073 $117,985,224, no |
Note 19 - Quarterly Results of
Note 19 - Quarterly Results of Operations (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 19 . Quarterly Results of Operations (Unaudited) Year Ended December 31, 2017 March June September December 2017 2017 2017 2017 Total interest income $ 31,345,099 $ 32,453,268 $ 33,840,865 $ 37,878,086 Total interest expense 3,676,216 4,406,571 5,284,517 6,084,733 Net interest income 27,668,883 28,046,697 28,556,348 31,793,353 Provision for loan/lease losses 2,105,109 2,022,993 2,086,436 2,255,381 Noninterest income 7,283,754 6,782,518 6,701,303 9,714,717 Noninterest expense 21,273,117 21,404,629 23,395,747 31,351,204 Income before taxes 11,574,411 11,401,593 9,775,468 7,901,485 Federal and state income tax expense (benefit) 2,389,446 2,635,576 1,921,533 (2,000,105 ) Net income $ 9,184,965 $ 8,766,017 $ 7,853,935 $ 9,901,590 EPS: Basic $ 0.70 $ 0.67 $ 0.60 $ 0.72 Diluted $ 0.68 $ 0.65 $ 0.58 $ 0.70 Year Ended December 31, 2016 March June September December 2016 2016 2016 2016 Total interest income $ 23,502,059 $ 23,913,284 $ 26,816,735 $ 32,235,657 Total interest expense 2,904,537 2,904,471 3,185,958 2,955,992 Net interest income 20,597,522 21,008,813 23,630,777 29,279,665 Provision for loan/lease losses 2,072,985 1,197,850 1,607,986 2,599,345 Noninterest income 6,822,473 6,762,401 10,423,401 7,028,600 Noninterest expense 16,954,498 17,743,753 24,480,483 22,307,178 Income before taxes 8,392,512 8,829,611 7,965,709 11,401,742 Federal and state income tax expense 2,019,023 2,153,144 1,858,208 2,872,412 Net income $ 6,373,489 $ 6,676,467 $ 6,107,501 $ 8,529,330 EPS: Basic $ 0.54 $ 0.54 $ 0.47 $ 0.65 Diluted $ 0.53 $ 0.53 $ 0.46 $ 0.64 |
Note 20 - Parent Company Only F
Note 20 - Parent Company Only Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 20. The following is condensed financial information of QCR Holdings, Inc. (parent company only): Condensed Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Cash and due from banks $ 4,325,582 $ 6,929,755 Interest-bearing deposits at financial institutions 601 651 Securities available for sale, at fair value 1,690,726 1,545,565 Loans/leases receivable, held for investment 1,710,000 - Investment in bank subsidiaries 410,105,525 345,866,288 Investment in nonbank subsidiaries 2,956,337 1,154,642 Premises and equipment, net 4,947,572 5,104,677 Other assets 11,630,304 15,245,521 Total assets $ 437,366,647 $ 375,847,099 Liabilities and Stockholders' Equity Liabilities: Other borrowings $ 31,000,000 $ 35,000,000 Junior subordinated debentures 37,486,487 33,480,202 Other liabilities 15,593,031 21,326,098 Total liabilities 84,079,518 89,806,300 Stockholders' Equity: Common stock 13,918,168 13,106,845 Additional paid-in capital 189,077,550 156,776,642 Retained earnings 151,962,661 118,616,901 Accumulated other comprehensive loss (1,671,250 ) (2,459,589 ) Total stockholders' equity 353,287,129 286,040,799 Total liabilities and stockholders' equity $ 437,366,647 $ 375,847,099 Condensed Statements of Income Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Total interest income $ 12,802 $ 74,489 $ 69,774 Equity in net income of bank subsidiaries 45,103,593 33,467,712 22,059,086 Equity in net income of nonbank subsidiaries 75,344 32,674 32,823 Securities gains 6,312 37,596 262,800 Other 2,700 (2,933 ) (4,436 ) Total income 45,200,751 33,609,538 22,420,047 Interest expense 2,658,414 1,735,769 1,679,909 Salaries and employee benefits 5,021,998 4,607,887 4,847,507 Professional fees 1,344,721 949,442 1,121,094 Acquisition costs 1,068,918 1,400,004 - Post-acquisition compensation, transition and integration costs 3,151,384 313,598 - Gains on debt extinguishment - (1,200,000 ) (300,000 ) Other 1,134,139 988,057 949,041 Total expenses 14,379,574 8,794,757 8,297,551 Income before income tax benefit 30,821,177 24,814,781 14,122,496 Income tax benefit 4,885,330 2,872,006 2,805,385 Net income $ 35,706,507 $ 27,686,787 $ 16,927,881 Condensed Statements of Cash Flows Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Cash Flows from Operating Activities: Net income $ 35,706,507 $ 27,686,787 $ 16,927,881 Adjustments to reconcile net income to net cash provided by operating activities: Earnings of bank subsidiaries (45,103,593 ) (33,467,712 ) (22,059,086 ) Earnings of nonbank subsidiaries (75,344 ) (32,674 ) (32,823 ) Distributions from bank subsidiaries 21,000,000 26,000,000 9,700,000 Distributions from nonbank subsidiaries 38,734 32,860 32,695 Accretion of acquisition fair value adjustments 149,010 136,150 137,317 Depreciation 225,947 222,256 174,757 Stock-based compensation expense 1,187,036 947,174 941,469 Securities gains, net (6,312 ) (37,596 ) (262,801 ) Gains on debt extinguishment - (1,200,000 ) (300,000 ) Decrease (increase) in other assets (968,808 ) (2,346,253 ) (5,929,110 ) (Decrease) increase in other liabilities (6,918,921 ) 5,105,251 5,502,390 Net cash provided by operating activities 5,234,256 23,046,243 4,832,689 Cash Flows from Investing Activities: Net increase in interest-bearing deposits at financial institutions 50 50 189,426 Activity in securities portfolio: Purchases - (3,873,060 ) (1,764,137 ) Calls, maturities and redemptions 6,312 3,800,000 1,772,719 Sales 31,713 132,738 489,828 Capital infusion, bank subsidiaries - - (45,600,000 ) Net cash paid for acquisitions (3,368,909 ) (80,000,000 ) - Purchase of premises and equipment (68,842 ) (824,498 ) (1,517,157 ) Net cash (used in) provided by investing activities (3,399,676 ) (80,764,770 ) (46,429,321 ) Cash Flows from Financing Activities: Activity in other borrowings: Proceeds from other borrowings 7,000,000 35,000,000 - Calls, maturities and scheduled principal payments (11,000,000 ) - (2,350,000 ) Prepayments - - (19,395,116 ) Retirement of junior subordinated debentures - (3,955,000 ) (1,762,000 ) Payment of cash dividends on common and preferred stock (2,494,260 ) (1,981,541 ) (782,054 ) Net proceeds from common stock offering, 3,680,000 shares issued - - 63,484,123 Net proceeds from common stock offering, 1,215,000 shares issued - 29,828,916 - Proceeds from issuance of common stock, net 2,055,507 2,105,774 1,552,673 Net cash provided by (used in) financing activities (4,438,753 ) 60,998,149 40,747,626 Net increase (decrease) in cash and due from banks (2,604,173 ) 3,279,622 (849,006 ) Cash and due from banks: Beginning 6,929,755 3,650,133 4,499,139 Ending $ 4,325,582 $ 6,929,755 $ 3,650,133 |
Note 21 - Fair Value
Note 21 - Fair Value | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 21. Accounting guidance on fair value measurements 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 measured at fair value on a recurring basis comprise d the following at December 31, 2017 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) December 31, 2017: Securities available for sale: U.S. govt. sponsored agency securities $ 38,096,534 $ - $ 38,096,534 $ - Residential mortgage-backed securities 163,301,304 - 163,301,304 - Municipal securities 66,625,496 - 66,625,496 - Other securities 4,884,573 1,028 4,883,545 - Interest rate caps 506,700 - 506,700 - Interest rate swaps - assets 4,397,238 - 4,397,238 Total assets measured at fair value $ 277,811,845 $ 1,028 $ 277,810,817 $ - Interest rate swaps - liabilities $ 4,397,238 $ - $ 4,397,238 $ - Total liabilities measured at fair value $ 4,397,238 $ - $ 4,397,238 $ - December 31, 2016: Securities available for sale: U.S. govt. sponsored agency securities $ 46,083,607 $ - $ 46,083,607 $ - Residential mortgage-backed 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 years ended December 31, 2017 2016. A small portion of the securities available for sale portfolio consists of common stock issued by various unrelated bank holding companies and mutual funds. The fair values used by the Company are obtained from an independent pricing service, which 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. See Note 7 2 Interest rate swaps are executed for select commercial customers. The interest rate swaps are further described in Note 1 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 d the following at December 31, 2017 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) December 31, 2017: Impaired loans/leases $ 8,972,337 $ - $ - $ 8,972,337 Other real estate owned 14,642,973 - - 14,642,973 $ 23,615,310 $ - $ - $ 23,615,310 December 31, 2016: Impaired loans/leases $ 12,823,121 $ - $ - $ 12,823,121 Other real estate owned 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 identified as impaired, at the lower of cost or fair value , and are classified as a Level 3 may may Other real estate owned 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 a Level 3 ’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the property. 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 December 31, 2017 Fair Value December 31, 2016 Fair Value Valuation Technique Unobservable Input Range Impaired loans/leases $ 8,972,337 $ 12,823,121 Appraisal of collateral Appraisal adjustments -10.00% to -50.00% Other real estate owned 14,642,973 5,964,952 Appraisal of collateral Appraisal adjustments 0.00% to -35.00% For impaired loans/leases and other real estate owned, 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 s ended December 31, 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 sheet, including those financial assets and liabilities that are not Fair Value As of December 31, 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 $ 75,721,663 $ 75,721,663 $ 70,569,993 $ 70,569,993 Federal funds sold Level 2 30,197,000 30,197,000 22,257,000 22,257,000 Interest-bearing deposits at financial institutions Level 2 55,765,012 55,765,012 63,948,925 63,948,925 Investment securities: HTM Level 2 379,474,205 379,749,804 322,909,056 320,414,899 AFS See Previous Table 272,907,907 272,907,907 251,113,139 251,113,139 Loans/leases receivable, net Level 3 8,307,719 8,972,337 11,873,260 12,823,121 Loans/leases receivable, net Level 2 2,921,821,953 2,892,963,000 2,362,856,277 2,344,462,740 Interest rate caps Level 2 506,700 506,700 576,527 576,527 Interest rate swaps - assets Level 2 4,397,238 4,397,238 2,338,281 2,338,281 Deposits: Nonmaturity deposits Level 2 2,670,583,178 2,670,583,178 2,188,683,349 2,188,683,349 Time deposits Level 2 596,071,878 591,772,000 480,577,924 479,605,000 Short-term borrowings Level 2 13,993,122 13,993,122 39,971,387 39,971,387 FHLB advances Level 2 192,000,000 192,115,000 137,500,000 138,338,000 Other borrowings Level 2 66,000,000 66,520,000 80,000,000 81,282,000 Junior subordinated debentures Level 2 37,486,487 29,253,624 33,480,202 24,881,494 Interest rate swaps - liabilities Level 2 4,397,238 4,397,238 2,338,281 2,338,281 The methodologies for estimating the fair value of financial assets and liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. For certain financial assets and liabilities, carrying value approximates fair value due to the nature of the financial instrument. These instruments include: cash and due from banks, federal funds sold, interest-bearing deposits at financial institutions, non-maturity deposits, and short-term borrowings. The Company used the following methods and assumptions in estimating the fair value of the following instruments: Securities held to maturity : The fair values are estimated using pricing models that consider certain observable market data and some observable inputs, such as rate and term. Loans/leases receivable : The fair values for all types of loans/leases are estimated using discounted cash flow analyses, using interest rates currently being offered for loans/leases with similar terms to borrowers with similar credit quality. The fair value of loans held for sale is based on quoted market prices of similar loans sold in the secondary market. Deposits : The fair values disclosed for demand deposits equal their carrying amounts, which represent the amount payable on demand. Fair values for time deposits are estimated using a discounted cash flow calculation that applies interest rates currently being offered on time deposits to a schedule of aggregate expected monthly maturities on time deposits. FHLB advances and junior subordinated debentures Other borrowings : The fair value for the wholesale repurchase agreements and fixed rate other borrowings is estimated using rates currently available for debt with similar terms and remaining maturities. The fair value for variable rate other borrowings is equal to its carrying value. Commitments to extend credit : The fair value of these commitments is not |
Note 22 - Business Segment Info
Note 22 - Business Segment Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 22. 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 which are the four The Company ’s Wealth Management segment represents trust and asset management and investment management and advisory services offered at the Company’s three No The Company ’s All Other segment includes the corporate operations of the parent and operations of all other consolidated subsidiaries and/or defined operating segments that fall below the segment reporting thresholds. Selected financial information on the Company's business segments, with all intercompany accounts and transactions eliminated, is presented as follows as of and for the years ended December 31, 2017, 2016, 2015: Commercial Banking QCBT CRBT Guaranty Bank* CSB RB&T Wealth Management All other Intercompany Eliminations Consolidated Total Twelve Months Ended December 31, 2017 Total revenue $ 58,055,715 $ 45,367,035 $ 1,806,078 $ 31,944,152 $ 18,035,971 $ 11,057,519 $ 232,660 $ (499,520 ) $ 165,999,610 Net interest income 46,407,078 31,042,302 1,551,356 27,020,674 12,707,651 - (2,663,780 ) - 116,065,281 Provision for loan/lease losses 3,908,919 1,050,000 - 2,783,000 728,000 - - - 8,469,919 Net income 22,095,055 10,712,174 346,835 7,047,671 2,660,364 2,241,494 (9,397,086 ) - 35,706,507 Goodwill 3,222,688 15,223,179 - 9,888,225 - - - - 28,334,092 Core deposit intangible - 3,693,592 - 5,385,361 - - - - 9,078,953 Total assets 1,541,777,558 1,307,376,687 - 670,516,373 461,650,765 - 28,267,478 (26,924,088 ) 3,982,664,773 Twelve Months Ended December 31, 2016 Total revenue $ 59,442,052 $ 37,242,901 $ - $ 11,406,291 $ 16,043,894 $ 9,156,948 $ 109,563 $ 4,100,975 $ 137,502,624 Net interest income 45,081,080 29,205,047 - 10,004,729 11,887,201 - (1,661,280 ) - 94,516,777 Provision for loan/lease losses 4,168,166 950,000 - 1,460,000 900,000 - - - 7,478,166 Net income 14,116,751 12,317,545 - 2,132,252 3,235,711 1,665,453 (5,780,925 ) - 27,686,787 Goodwill 3,222,688 - - 9,888,225 - - - - 13,110,913 Core deposit intangible - 1,271,897 - 6,109,316 - - - - 7,381,213 Total assets 1,395,785,241 913,055,738 - 600,075,798 391,154,780 - 34,998,902 (33,126,711 ) 3,301,943,748 Twelve Months Ended December 31, 2015 Total revenue $ 52,914,705 $ 37,593,652 $ - $ - $ 14,816,300 $ 9,103,173 $ 363,432 $ (424,688 ) $ 114,366,574 Net interest income 40,416,563 26,635,659 - - 10,854,637 - (1,610,135 ) - 76,296,724 Provision for loan/lease losses 4,367,234 1,750,000 - - 753,666 - - - 6,870,900 Net income 10,333,111 7,695,867 - - 2,402,522 1,627,586 (5,131,205 ) - 16,927,881 Goodwill 3,222,688 - - - - - - - 3,222,688 Core deposit intangible - 1,471,409 - - - - - - 1,471,409 Total assets 1,336,571,694 866,872,406 - - 367,471,639 - 27,605,704 (5,323,168 ) 2,593,198,275 * Represents financial results for Guaranty Bank for the period from October 1, 2017 December 2, 2017, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation : The acronyms and abbreviations identified below are used in the Notes to the Consolidated Financial Statements , as well as in the other sections of this Form 10 may Allowance: Allowance for estimated losses on loans/leases Goldman Sachs: Goldman Sachs and Company AOCI: Accumulated other comprehensive income (loss) HTM: Held to maturity AFS: Available for sale Iowa Superintendent: Iowa Superintendent of Banking ASC: Accounting Standards Codification LCR: Liquidity Coverage Ratio ASC 805: m2: m2 ASU: Accounting Standards Update MD&A: Management's Discussion & Analysis BHCA: Bank Holding Company Act of 1956 MSA: Metropolitan Statistical Area BOLI: Bank-owned life insurance NIM: Net interest margin Caps: Interest rate cap derivatives NPA: Nonperforming asset CFPB: Bureau of Consumer Financial Protection NPL: Nonperforming loan Community National: Community National Bancorporation NSFR: Net Stable Funding Ratio CNB: Community National Bank OREO: Other real estate owned CRA: Community Reinvestment Act OTTI: Other-than-temporary impairment CRBT: Cedar Rapids Bank & Trust Company PCAOB: Public Company Accounting Oversight Board CRE: Commercial real estate PCI: Purchased credit impaired CRE Guidance: Interagency Concentrations in Commercial Real Estate Provision: Provision for loan/lease losses Lending, Sound Risk Management Practices guidance PUD LOC: Public Unit Deposit Letter of Credit 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 ROACE: Return on Average Common Equity IDFPR: Illinois Department of Financial & Professional Regulation ROAE: Return on Average Equity DGCL: Delaware General Corporation Law SBA: U.S. Small Business Administration DIF: Deposit Insurance Fund SBLF: Small Business Lending Fund EPS: Earnings per share SEC: Securities and Exchange Commission Exchange Act: Securities Exchange Act of 1934, SERPs: Supplemental Executive Retirement Plans FASB: Financial Accounting Standards Board TA: Tangible assets FDIC: Federal Deposit Insurance Corporation Tax Act: Tax Cuts and Jobs Act Federal Reserve: Board of Governors of the Federal Reserve System TCE: Tangible common equity FHLB: Federal Home Loan Bank TDRs: Troubled debt restructurings FICO: Financing Corporation TEY: Tax equivalent yield FRB: Federal Reserve Bank of Chicago The Company: QCR Holdings, Inc. FTEs: Full-time equivalents Treasury: U.S. Department of the Treasury GAAP: Generally Accepted Accounting Principles USA Patriot Act: Uniting and Strengthening America by Guaranty: Guaranty Bankshares, Ltd. Providing Appropriate Tools Required to Intercept and Guaranty Bank: Guaranty Bank and Trust Company Obstruct Terrorism Act of 2001 USDA: U.S. Department of Agriculture |
Use of Estimates, Policy [Policy Text Block] | Accounting estimates : The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance, OTTI of securities, the fair value of financial instruments, and the fair value of assets acquired/liabilities assumed in a business combination. |
Consolidation, Policy [Policy Text Block] | Principles of consolidation : The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, except those six not 12 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Presentation of cash flows : For purposes of reporting cash flows, cash and due from banks include cash on hand and noninterest bearing amounts due from banks. Cash flows from federal funds sold, interest bearing deposits at financial institutions, loans/leases, deposits, and short-term borrowings are treated as net increases or decreases. Cash and due from banks : The subsidiary banks are required by federal banking regulations to maintain certain cash and due from bank reserves. The reserve requirement was approximately $41,803,000 $42,233,000 December 31, 2017 2016, |
Marketable Securities, Policy [Policy Text Block] | Investment securities : Investment securities held to maturity are those debt securities that the Company has the ability and intent to hold until maturity regardless of changes in market conditions, liquidity needs, or changes in general economic conditions. Such securities are carried at cost adjusted for amortization of premiums and accretion of discounts. If the ability or intent to hold to maturity is not not All securities are evaluated to determine whether declines in fair value below their amortized cost are other-than-temporary. In estimating OTTI losses on AFS debt securities, management considers a number of factors including, but not 1 2 3 4 not not If the Company lacks the intent to sell the security, and it is not not |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans receivable , held for sale |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans receivable, held for investment : Loans that management has the intent and ability to hold for the foreseeable future, or until pay-off or maturity occurs, are classified as held for investment. These loans are stated at the amount of unpaid principal adjusted for charge-offs, the allowance, and any deferred fees and/or costs on originated loans. Interest is credited to earnings as earned based on the principal amount outstanding. Deferred direct loan origination fees and/or costs are amortized as an adjustment of the related loan’s yield. As assets held for and used in the production of services, the origination and collection of these loans are classified as investing activities in the statement of cash flows. The Company discloses the allowance for credit losses (also known as the allowance) by portfolio segment, and credit quality information, impaired financing receivables, nonaccrual status, and TDRs by class of financing receivable. A portfolio segment is the level at which the Company develops and documents a systematic methodology to determine its allowance for credit losses. A class of financing receivable is a further disaggregation of a portfolio segment based on risk characteristics and the Company’s method for monitoring and assessing credit risk. See the following information and Note 4. The Company ’s portfolio segments are as follows: ● C&I ● CRE ● Residential real estate ● Installment and other consumer Direct financing leases are considered a segment within the overall loan/lease portfolio. The Company’s classes of loans receivable are as follows: ● C&I ● Owner-occupied CRE ● Commercial construction, land development, and other land loans that are not CRE ● Other non-owner-occupied CRE ● Residential real estate ● Installment and other consumer Direct financing leases are considered a class of financing receivable within the overall loan/lease portfolio. The accounting policies for direct financing leases are disclosed below. Generally , for all classes of loans receivable, loans are considered past due when contractual payments are delinquent for 31 For al l classes of loans receivable, loans will generally be placed on nonaccrual status when the loan has become 90 ● It becomes evident that the borrower will not not ; ● When full repayment of principal and interest is not ; ● When the loan is graded “doubtful” ; ● When the borrower files bankruptcy and an approved plan of reorganization or liquidation is not ; or ● When foreclosure action is initiated. When a loan is placed on nonaccrual status, income recognition is ceased. Previously recorded but uncollected amounts of interest on nonaccrual loans are reversed at the time the loan is placed on nonaccrual status. Generally, cash collected on nonaccrual loans is applied to principal. Should full collection of principal be expected, cash collected on nonaccrual loans can be recognized as interest income. For all classes of loans receivable, nonaccrual loans may ● The loan is current, and all principal and interest amounts contractually due have been made ; ● All principal and interest amounts contractually due, including past due payments, are reasonabl y assured of repayment within a reasonable period; and ● There is a period of minimum repayment performance, as follows, by the borrower in accordance with contractual terms: ○ Six months of repayment performance for contractual monthly payments, or ○ One year of repayment performance for contractual quarterly or semi-annual payments . Direct finance leases receivable, held for investment : The Company leases machinery and equipment to customers under leases that qualify as direct financing leases for financial reporting and as operating leases for income tax purposes. Under the direct financing method of accounting, the minimum lease payments to be received under the lease contract, together with the estimated unguaranteed residual values (approximately 3% 25% Lease income is recognized on the interest method. Residual value is the estimated fair market value of the equipment on lease at lease termination. In estimating the equipment’s fair value at lease termination, the Company relies on historical experience by equipment type and manufacturer and, where available, valuations by independent appraisers, adjusted for known trends. The Company ’s estimates are reviewed continuously to ensure reasonableness; however, the amounts the Company will ultimately realize could differ from the estimated amounts. If the review results in a lower estimate than had been previously established, a determination is made as to whether the decline in estimated residual value is other-than-temporary. If the decline in estimated unguaranteed residual value is judged to be other-than-temporary, the accounting for the transaction is revised using the changed estimate. The resulting reduction in the investment is recognized as a loss in the period in which the estimate is changed. An upward adjustment of the estimated residual value is not T he policies for delinquency and nonaccrual for direct financing leases are materially consistent with those described above for all classes of loan receivables. The Company defers and amortizes fees and certain incremental direct costs over the contractual term of the lease as an adjustment to the yield. These initial direct leasing costs generally approximate 5.5% |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | TDRs : TDRs exist when the Company, for economic or legal reasons related to the borrower’s/lessee’s financial difficulties, grants a concession (either imposed by court order, law, or agreement between the borrower/lessee and the Company) to the borrower/lessee that it would not The following criteria, related to granting a concession, together or separately, create a TDR: ● A modification of terms of a debt such as one ○ The reduction of the stated interest rate to a rate lower than the current market rate for new debt with similar risk. ○ The extension of the maturity date or dates at a stated interest rate lower than the current market rate for new debt with similar risk. ○ The reduction of the face amount or maturity amount of the debt as stated in the instrument or other agreement. ○ The reduction of accrued interest. ● A transfer from the borrower /lessee to the Company of receivables from third ● The issuance or other granting of an equity position to the Company to fully or partially satisfy a debt unless the equity position is granted pursuant to existing terms for converting the debt into an equity position. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance : For all portfolio segments , the allowance is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans/leases in light of historical experience, the nature and volume of the loan/lease portfolio, adverse situations that may A discussion of the risk characteristics and the allowance by each portfolio segment follows: For C&I loans, the Company focuses on small and mid-sized businesses with primary operations as wholesalers, manufacturers, building contractors, business services companies, other banks, and retailers. The Company provides a wide range of C&I loans, including lines of credit for working capital and operational purposes, and term loans for the acquisition of facilities, equipment and other purposes. Approval is generally based on the following factors: ● Ability and stability of current management of the borrower; ● Stable earnings with positive financial trends; ● Sufficient cash flow to support debt repayment; ● Earnings projections based on reasonable assumptions; ● Financial strength of the industry and business; and ● Value and marketability of collateral. Collateral for C&I loans generally includes accounts receivable, inventory, equipment and real estate. The Company’s lending policy specifies approved collateral types and corresponding maximum advance percentages. The value of collateral pledged on loans must exceed the loan amount by a margin sufficient to absorb potential erosion of its value in the event of foreclosure and cover the loan amount plus costs incurred to convert it to cash. The Company’s lending policy specifies maximum term limits for C&I loans. For term loans, the maximum term is generally 7 3 5 365 In addition, the Company often takes personal guarantees or cosigners to help assure repayment. Loans may CRE loans are subject to underwriting standards and processes similar to C&I loans, in addition to those standards and processes specific to real estate loans. Collateral for CRE loans generally includes the underlying real estate and improvements, and may The Company’s lending policy also includes guidelines for real estate appraisals, including minimum appraisal standards based on certain transactions. In addition, the Company often takes personal guarantees to help assure repayment. In addition, management tracks the level of owner-occupied CRE loans versus non-owner occupied loans. Owner-occupied loans are generally considered to have less risk. As of December 31, 2017 2016, 26% 30%, The Company ’s lending policy incorporates regulatory guidelines which stipulate that non-owner occupied CRE lending in excess of 300% 100% December 31, 2017 2016, December 31, 2017, December 31, 2016. In some instances for all loans/leases, it may Company’s lending policy described above and below. In general, exceptions to the lending policy do not For C&I and CRE loans, the allowance consists of specific and general components. The specific component relates to loans that are classified as impaired , as defined below. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan are lower than the carrying value of that loan. For C&I loans and all classes of CRE loans, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not The general component consists of quantitative and qualitative factors and covers non-impaired loans. The quantitative factors are based on historical charge-off experience and expected loss given default derived from the Company’s internal risk rating process. See below for a detailed description of the Company’s internal risk rating scale. The qualitative factors are determined based on an assessment of internal and/or external influences on credit quality that are not For C&I and CRE loans, the Company utilizes the following internal risk rating scale: 1 . Highest Quality (Pass) – loans of the highest quality with no 2 . Superior Quality (Pass) – loans with very strong credit quality. Borrowers have exceptionally strong earnings, liquidity, capital, cash flow coverage, and management ability. Includes loans secured by high quality marketable securities, certificates of deposit from other institutions, and cash value of life insurance. Also includes loans supported by U.S. government, state, or municipal guarantees. 3 . Satisfactory Quality (Pass) – loans with satisfactory credit quality. Established borrowers with satisfactory financial condition, including credit quality, earnings, liquidity, capital and cash flow coverage. Management is capable and experienced. Collateral coverage and guarantor support, if applicable, are more than adequate. Includes loans secured by personal assets and business assets, including equipment, accounts receivable, inventory, and real estate. 4 . Fair Quality (Pass) – loans with moderate but still acceptable credit quality. The primary repayment source remains adequate; however, management’s ability to maintain consistent profitability is unproven or uncertain. Borrowers exhibit acceptable leverage and liquidity. May 5 . Early Warning (Pass) – loans where the borrowers have generally performed as agreed, however unfavorable financial trends exist or are anticipated. Earnings may may may may 6 . Special Mention – loans where the borrowers exhibit credit weaknesses or unfavorable financial trends requiring close monitoring. Weaknesses and adverse trends are more pronounced than Early Warning loans, and if left uncorrected, may no not one 7 . Substandard – loans which are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if applicable. These loans have a well-defined weakness or weaknesses which jeopardize repayment according to the contractual terms. There is distinct loss potential if the weaknesses are not 8 . Doubtful – loans which have all the weaknesses inherent in a Substandard loan, with the added characteristic that existing weaknesses make full principal collection, on the basis of current facts, conditions and values, highly doubtful. The possibility of loss is extremely high, but because of pending factors, recognition of a loss is deferred until a more exact status can be determined. All doubtful loans will be placed on non-accrual, with all payments, including principal and interest, applied to principal reduction. The Company has certain loans risk-rated 7 not 7 not follow the same allowance methodology as it does for all other non-impaired, collectively evaluated loans. Rather, the Company performs a more detailed analysis including evaluation of the cash flow and collateral valuations. Based upon this evaluation, an estimate of the probable loss in this portfolio is collectively evaluated under ASC 450 20. 7 For term C&I and CRE loans greater than $1,000,000, 15 The Company’s Loan Quality area performs a documentation review of a sampling of C&I and CRE loans, the primary purpose of which is to ensure the credit is properly documented and closed in accordance with approval authorities and conditions. A review is also performed by the Company’s Internal Audit Department of a sampling of C&I and CRE loans for proper documentation, according to an approved schedule. Validation of the risk rating is also part of Internal Audit’s review (performed by Internal Loan Review). Additionally, over the past several years, the Company has contracted an independent outside third The Company leases machinery and equipment to C&I customers under direct financing leases. All lease requests are subject to the credit requirements and criteria as set forth in the lending/leasing policy. In all cases, a formal independent credit analysis of the lessee is performed. For direct financing leases, the allowance consists of specific and general components. The specific component relates to leases that are classified as impaired, as defined for commercial loans above. For those leases that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired lease is lower than the carrying value of that lease. The general component consists of quantitative and qualitative factors and covers nonimpaired leases. The quantitative factors are based on historical charge-off experience for the entire lease portfolio. The qualitative factors are determined based on an assessment of internal and/or external influences on credit quality that are not Generally, the Company’s residential real estate loans conform to the underwriting requirements of Freddie Mac and Fannie Mae to allow the subsidiary banks to resell loans in the secondary market. The subsidiary banks structure most loans that will not one five 15 not The Company provides many types of installment and other consumer loans including motor vehicle, home improvement, home equity, signature loans and small personal credit lines. The Company’s lending policy addresses specific credit guidelines by consumer loan type. For residential real estate loans, and installment and other consumer loans, these large groups of smaller balance homogenous loans are collectively evaluated for impairment. The Company applies a quantitative factor based on historical charge-off experience in total for each of these segments. Accordingly, the Company generally does not TDRs are considered impaired loans/leases and are subject to the same allowance methodology as described above for impaired loans/leases by portfolio segment. Once a loan is classified as a TDR, it will remain a TDR until the loan is paid off, charged off, moved to OREO or restructured into a new note without a concession. TDR status may |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Credit related financial instruments : In the ordinary course of business, the Company has entered into commitments to extend credit and standby letters of credit. Such financial instruments are recorded when they are funded. |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of financial assets : Transfers of financial assets are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: ( 1 2 no 3 not ● Pro-rata ownership in an entire financial asset . ● From the date of the transfer, all cash flows received from entire financial assets are divided proportionately among the participating interest holders in an amount equal to their share of ownership. ● The rights of each participating interest holder have the same priority, and no ’s interest is subordinated to the interest of another participating interest holder. That is, no ● No |
Bankowned Life Insurance [Policy Text Block] | BOLI : BOLI is carried at cash surrender value with increases/decreases reflected as income/expense in the statement of income. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and equipment : Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets. |
Restricted Investment Securities [Policy Text Block] | Restricted investment securities : Restricted investment securities represent FHLB and FRB common stock. The stock is carried at cost. These equity securities are “restricted” in that they can only be sold back to the respective institution or another member institution at par. Therefore, they are less liquid than other tradable equity securities. The Company views its investment in restricted stock as a long-term investment. Accordingly, when evaluating for impairment, the value is determined based on the ultimate recovery of the par value, rather than recognizing temporary declines in value. There have been no |
Real Estate, Policy [Policy Text Block] | OREO : Real estate acquired through, or in lieu of, loan foreclosures, is held for sale and initially recorded at fair value less costs to sell, establishing a new cost basis. Any writedown to fair value taken at the time of foreclosure is charged to the allowance. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less costs to sell. Subsequent write-downs to fair value are charged to earnings. |
Repossessed Assets [Policy Text Block] | Repossessed assets : Equipment or other non-real estate property acquired through, or in lieu of foreclosure, is held for sale and initially recorded at fair value less costs to sell. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill : The Company recorded goodwill totaling $3,222,688 80% m2 August 2005. $9,888,225 2016. not September 30, 2017, not $15,223,179 2017. 2 not 2018. |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Core deposit intangible : The Company has recorded a core deposit intangible from historical acquisitions including CNB, CSB and Guaranty Bank. The core deposit intangible was the portion of the acquisition purchase price which represented the value assigned to the existing deposit base at acquisition. See Notes 2 7 ten |
Swap Transactions Policy [Policy Text Block] | Swap transactions : The Company offers a loan swap program to certain commercial loan customers. Through this program, the Company originates a variable rate loan with the customer. The Company and the swap customer will then enter into a fixed interest rate swap. Lastly, an identical offsetting swap is entered into by the Company with a counterparty. These “back-to-back” swap arrangements are intended to offset each other and allow the Company to book a variable rate loan, while providing the customer with a contract for fixed interest payments. In these arrangements, the Company’s net cash flow is equal to the interest income received from the variable rate loan originated with the customer. These customer swaps are not $3.1 $1.7 $1.7 December 31, 2017, 2016 2015, |
Derivatives, Policy [Policy Text Block] | Derivatives and hedging activities : The Company enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Derivative instruments represent contracts between parties that result in one one The derivative financial instruments currently used by the Company to manage its exposure to interest rate risk include: ( 1 2 short-term fixed rate liabilities. Interest rate caps are valued by the transaction counterparty on a monthly basis and corroborated by a third ASC 815, |
Stockholders' Equity, Policy [Policy Text Block] | Preferred stock : The Company currently has 250,000 none December 31, 2017 2016. Treasury s tock 2015. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-based compensation plans: The Company accounts for stock-based compensation with measurement of compensation cost for all stock-based awards at fair value on the grant date and recognition of compensation over the requisite service period for awards expected to vest. As discussed in Note 15, December 31, 2017, 2016, 2015, $1,187,035, $947,174 $941,469, The Company use s the Black-Scholes option pricing model to estimate the fair value of stock option grants with the following assumptions for the indicated periods: 2017 2016 201 5 Dividend yield 0.36% to 0.47% 0.35% to 0.51% 0.37% to 0.46% Expected volatilit y 29.64% to 29.95% 29.32% to 29.37% 28.92% to 29.32% Risk-free interest rate 2.50% to 2.81% 1.73% to 2.18% 1.89% to 2.37% Expected life of option grants (in years) 6 6 6 Weighted-average grant date fair value $14.75 $7.31 $5.11 The Compan y also uses the Black-Scholes option pricing model to estimate the fair value of stock purchase grants with the following assumptions for the indicated periods: 2017 2016 20 15 Dividend yield 0.37% to 0.42% 0.33% to 0.59% 0.37% to 0.45% Expect ed volatility 19.80% to 19.86% 12.70% to 15.60% 8.81% to 13.10% Risk-free interest rate 0.67% to 1.18% 0.39% to 0.57% 0.09% to .016% Expected life of purchase grants (in months) 3 to 6 3 to 6 3 to 6 Weighted-average grant date fair value $6.42 $3.28 $2.39 The fair value is amortized on a straight-line basis over the vesting periods of the grants and will be adjusted for subsequent changes in estimated forfeitures. The expected dividend yield assumption is based on the Company's current expectations about its anticipated dividend policy. Expected volatility is based on historical volatility of the Company's common stock price. The risk-free interest rate for periods within the contractual life of the option or purchase is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life of the option and purchase grants is derived using the “simplified” method and represents the period of time that options and purchases are expected to be outstanding. Historical data is used to estimate forfeitures used in the model. Two separate groups of employees (employees subject to broad based grants, and executive employees and directors) are used. As of December 31, 2017, $961,972 1.92 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company's common stock for the 495,004 December 31, 2017. December 31, 2017 $13.2 $10.5 December 31, 2017, 2016 2015, $1,055,193, $1,525,902, $480,354, Restricted stock awards granted may not not All restricted share awards are classified as equity awards. The grant-date fair value of equity-classified restricted stock awards is amortized as compensation expense on a straight-line basis over the period restrictions lapse. As of December 31, 2017, 1,210,425 2.60 |
Income Tax, Policy [Policy Text Block] | Income taxes : The Company files its tax return on a consolidated basis with its subsidiaries. The entities follow the direct reimbursement method of accounting for income taxes under which income taxes or credits which result from the inclusion of the subsidiaries in the consolidated tax return are paid to or received from the parent company. Deferred income taxes are provided under the liability method whereby deferred tax assets are recognized for deductible temporary differences and net operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not ects of changes in tax laws and rates on the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not likely than not 50 Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statement s of income. |
Trust Assets [Policy Text Block] | Trust assets : Trust assets held by the subsidiary banks in a fiduciary, agency, or custodial capacity for their customers, other than cash on deposit at the subsidiary banks, are not not |
Earnings Per Share, Policy [Policy Text Block] | Earnings per share : See Note 17 |
Reclassification, Policy [Policy Text Block] | Reclassifications : Certain amounts in the prior year financial statements have been reclassified, with no |
New Accounting Pronouncements, Policy [Policy Text Block] | New accounting pronouncements: 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 no In January 2016, 2016 01, Financial Instruments – Overall 2016 01 2016 01was January 1, 2018 no In February 2016, 2016 02, Leases 2016 02, 2016 02. 2016 02 December 15, 2018, Effective January 1, 2017. ASU 2016 09, Compensation – Stock Compensation $1.2 2017. In June 2016, 2016 13, Financial Instruments – Credit Losses 2016 13 December 15, 2019, may December 15, 2018, In February 2018, 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 one 2018 02 December 15, 2018, may not February 14, 2018. 2018 02 December 31, 2017. 2017 $304 |
Note 1 - Nature of Business a32
Note 1 - Nature of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2017 2016 201 5 Dividend yield 0.36% to 0.47% 0.35% to 0.51% 0.37% to 0.46% Expected volatilit y 29.64% to 29.95% 29.32% to 29.37% 28.92% to 29.32% Risk-free interest rate 2.50% to 2.81% 1.73% to 2.18% 1.89% to 2.37% Expected life of option grants (in years) 6 6 6 Weighted-average grant date fair value $14.75 $7.31 $5.11 2017 2016 20 15 Dividend yield 0.37% to 0.42% 0.33% to 0.59% 0.37% to 0.45% Expect ed volatility 19.80% to 19.86% 12.70% to 15.60% 8.81% to 13.10% Risk-free interest rate 0.67% to 1.18% 0.39% to 0.57% 0.09% to .016% Expected life of purchase grants (in months) 3 to 6 3 to 6 3 to 6 Weighted-average grant date fair value $6.42 $3.28 $2.39 |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | As of October 1, 2017 ASSETS Cash and due from banks $ 4,434,511 Interest-bearing deposits at financial institutions 3,953,907 Securities 49,703,419 Loans/leases receivable, net 192,517,677 Premises and equipment 4,808,343 Restricted investment securities 476,500 Core deposit intangible 2,698,301 Other assets 997,810 Total assets acquired $ 259,590,468 LIABILITIES Deposits $ 212,467,514 Short-term borrowings 13,102,043 FHLB advances 4,108,027 Junior subordinated debentures 3,857,275 Other liabilities 2,595,883 Total liabilities assumed 236,130,742 Net assets acquired $ 23,459,726 CONSIDERATION PAID: Cash $ 7,803,420 Common stock 30,879,485 Total consideration paid 38,682,905 Goodwill $ 15,223,179 As of August 31, 2016 ASSETS Cash and due from banks $ 10,094,645 Federal funds sold 698,000 Interest-bearing deposits at financial institutions 14,730,157 Securities 102,640,029 Loans/leases receivable, net 419,029,277 Premises and equipment 20,684,880 Core deposit intangible 6,352,653 Restricted investment securities 1,512,900 Other real estate owned 650,000 Other assets 5,283,937 Total assets acquired $ 581,676,478 LIABILITIES Deposits $ 486,298,262 FHLB advances 20,368,877 Other liabilities 4,897,564 Total liabilities assumed $ 511,564,703 Net assets acquired $ 70,111,775 CONSIDERATION PAID: Cash $ 80,000,000 Total consideration paid $ 80,000,000 Goodwill $ 9,888,225 |
Business Combination, Purchased Loans as of The Acquisition Date [Table Text Block] | PCI Performing Loans Loans Total Contractually required principal payments $ 3,126,327 $ 192,982,439 $ 196,108,766 Nonaccretable discount (1,147,198 ) - (1,147,198 ) Principal cash flows expected to be collected 1,979,129 192,982,439 194,961,568 Accretable discount (219,902 ) (2,223,989 ) (2,443,891 ) Fair Value of acquired loans $ 1,759,227 $ 190,758,450 $ 192,517,677 PCI Performing Loans Loans Total Contractually required principal payments $ 8,349,688 $ 427,398,400 $ 435,748,088 Nonaccretable discount (4,525,223 ) - (4,525,223 ) Principal cash flows expected to be collected $ 3,824,465 $ 427,398,400 $ 431,222,865 Accretable discount (277,579 ) (11,916,009 ) (12,193,588 ) Fair Value of acquired loans $ 3,546,886 $ 415,482,391 $ 419,029,277 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Table Text Block] | For the year ended December 31, 2017 PCI Performing Loans Loans Total Balance at the beginning of the period $ - $ - $ - Discount added at acquisition (219,902 ) (2,223,989 ) (2,443,891 ) Accretion recognized 54,070 26,836 80,906 Balance at the end of the period $ (165,832 ) $ (2,197,153 ) $ (2,362,985 ) For the year ended December 31, 2017 PCI Performing Loans Loans Total Balance at the beginning of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) Accretion recognized 169,006 5,032,692 5,201,698 Balance at the end of the period $ (25,300 ) $ (4,082,922 ) $ (4,108,222 ) For the year ended December 31, 2016 PCI Performing Loans Loans Total Balance at the beginning of the period $ - $ - $ - Discount added at acquisition (277,579 ) (11,916,009 ) (12,193,588 ) Accretion recognized 83,273 2,800,395 2,883,668 Balance at the end of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) |
Business Acquisition, Pro Forma Information [Table Text Block] | Year Ended December 31, 2017 2016 (dollars in thousands, except per share data) Net interest income $ 122,923 $ 102,902 Noninterest income $ 32,703 $ 34,238 Net income $ 38,728 $ 27,103 Earnings per common share: Basic $ 2.80 $ 2.05 Diluted $ 2.73 $ 2.02 Year Ended December 31, 2016 2015 (dollars in thousands, except per share data) Net interest income $ 110,035 $ 98,483 Noninterest income $ 34,773 $ 31,051 Net income $ 34,137 $ 22,118 Earnings per common share: Basic $ 2.62 $ 1.91 Diluted $ 2.58 $ 1.89 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (Losses) Value December 31, 2017: Securities held to maturity: Municipal securities $ 378,424,205 $ 2,763,718 $ (2,488,119 ) $ 378,699,804 Other securities 1,050,000 - - 1,050,000 $ 379,474,205 $ 2,763,718 $ (2,488,119 ) $ 379,749,804 Securities available for sale: U.S. govt. sponsored agency securities $ 38,409,157 $ 37,344 $ (349,967 ) $ 38,096,534 Residential mortgage-backed and related securities 165,459,470 155,363 (2,313,529 ) 163,301,304 Municipal securities 66,176,364 660,232 (211,100 ) 66,625,496 Other securities 4,014,004 896,384 (25,815 ) 4,884,573 $ 274,058,995 $ 1,749,323 $ (2,900,411 ) $ 272,907,907 December 31, 2016: Securities held to maturity: 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 available for sale: 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 December 31, 2017: Securities held to maturity: Municipal securities $ 23,750,826 $ (354,460 ) $ 72,611,780 $ (2,133,659 ) $ 96,362,606 $ (2,488,119 ) Securities available for sale: U.S. govt. sponsored agency securities $ 28,576,258 $ (200,022 ) $ 3,640,477 $ (149,945 ) $ 32,216,735 $ (349,967 ) Residential mortgage-backed and related securities 88,927,779 (871,855 ) 57,931,731 (1,441,674 ) 146,859,510 (2,313,529 ) Municipal securities 10,229,337 (41,151 ) 9,997,433 (169,949 ) 20,226,770 (211,100 ) Other securities 923,535 (25,815 ) - - 923,535 (25,815 ) $ 128,656,909 $ (1,138,843 ) $ 71,569,641 $ (1,761,568 ) $ 200,226,550 $ (2,900,411 ) December 31, 2016: Securities held to maturity: Municipal securities $ 122,271,533 $ (4,076,647 ) $ 13,010,803 $ (618,087 ) $ 135,282,336 $ (4,694,734 ) Securities available for sale: 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] | 2017 2016 2015 Proceeds from sales of securities $ 71,091,580 $ 134,188,737 $ 81,410,368 Gross gains from sales of securities 67,351 4,845,009 1,045,444 Gross losses from sales of securities (155,236 ) (252,611 ) (246,461 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Cost Fair Value Securities held to maturity: Due in one year or less $ 2,912,158 $ 2,909,816 Due after one year through five years 20,838,734 20,896,388 Due after five years 355,723,313 355,943,600 $ 379,474,205 $ 379,749,804 Securities available for sale: Due in one year or less $ 1,991,755 $ 1,996,584 Due after one year through five years 26,984,843 26,986,584 Due after five years 75,608,923 75,738,862 $ 104,585,521 $ 104,722,030 Residential mortgage-backed and related securities 165,459,470 163,301,304 Other securities 4,014,004 4,884,573 $ 274,058,995 $ 272,907,907 Amortized Cost Fair Value Securities held to maturity: Municipal securities $ 208,103,672 $ 208,961,233 Securities available for sale: U.S. govt. sponsored agency securities 5,048,756 4,988,073 Municipal securities 57,554,280 57,817,498 $ 62,603,036 $ 62,805,571 |
Schedule of Investment in Bond Securities [Table Text Block] | December 31, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Illinois 20 $ 19,328,700 $ 19,514,024 $ 975,701 Iowa 16 13,881,689 13,969,512 873,095 Missouri 17 9,243,355 9,308,287 547,546 North Dakota 7 21,626,574 21,724,197 3,103,457 Ohio 9 8,002,705 7,938,028 882,003 Texas 17 11,253,775 11,308,848 665,226 Other 45 24,000,278 24,215,119 538,114 Total general obligation bonds 131 $ 107,337,076 $ 107,978,015 $ 824,260 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Illinois 19 $ 29,214,559 $ 29,308,438 $ 1,542,549 Iowa 27 32,258,612 32,231,936 1,193,775 Missouri 14 8,291,192 8,323,245 594,518 North Dakota 7 22,169,050 21,499,075 3,071,296 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 December 31, 2017: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Illinois 2 $ 17,211,441 $ 17,408,544 $ 8,704,272 Indiana 26 51,171,818 50,861,336 1,956,205 Iowa 29 68,724,899 69,079,470 2,382,051 Kansas 6 12,873,329 12,877,087 2,146,181 Missouri 56 106,259,015 106,232,837 1,897,015 North Dakota 5 11,451,560 11,351,676 2,270,335 Ohio 10 55,766,091 55,820,203 5,582,020 Other 11 13,805,340 13,716,132 1,246,921 Total revenue bonds 145 $ 337,263,493 $ 337,347,285 $ 2,326,533 December 31, 2016: U.S. State: Number of Issuers Amortized Cost Fair Value Average Exposure Per Issuer (Fair Value) Indiana 22 $ 47,994,737 $ 47,582,138 $ 2,162,824 Iowa 31 70,788,393 71,142,393 2,294,916 Kansas 6 13,476,366 13,427,491 2,237,915 Missouri 47 90,784,441 89,664,013 1,907,745 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 4 - Loans Leases Receiva35
Note 4 - Loans Leases Receivable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2017 2016 C&I loans $ 1,134,516,315 $ 827,637,263 CRE loans Owner-occupied CRE 332,742,477 332,387,621 Commercial construction, land development, and other land 186,402,404 165,149,491 Other non owner-occupied CRE 784,347,000 595,921,748 1,303,491,882 1,093,458,860 Direct financing leases * 141,448,232 165,419,360 Residential real estate loans ** 258,646,265 229,233,104 Installment and other consumer loans 118,610,799 81,665,695 2,956,713,493 2,397,414,282 Plus deferred loan/lease origination costs, net of fees 7,771,907 8,072,703 2,964,485,400 2,405,486,985 Less allowance (34,355,728 ) (30,757,448 ) $ 2,930,129,672 $ 2,374,729,537 * Direct financing leases: Net minimum lease payments to be received $ 156,583,887 $ 184,274,802 Estimated unguaranteed residual values of leased assets 929,932 1,085,154 Unearned lease/residual income (16,065,587 ) (19,940,596 ) 141,448,232 165,419,360 Plus deferred lease origination costs, net of fees 4,624,027 5,881,778 146,072,259 171,301,138 Less allowance (2,382,098 ) (3,111,898 ) $ 143,690,161 $ 168,189,240 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule Non-Aggregated [Table Text Block] | For the year ended December 31, 2017 PCI Performing Loans Loans Total Balance at the beginning of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) Discount added at acquisition (219,902 ) (2,223,989 ) (2,443,891 ) Accretion recognized 223,076 5,059,528 5,282,604 Balance at the end of the period $ (191,132 ) $ (6,280,075 ) $ (6,471,207 ) For the year ended December 31, 2016 PCI Performing Loans Loans Total Balance at the beginning of the period $ - $ - $ - Discount added at acquisition (277,579 ) (11,916,009 ) (12,193,588 ) Accretion recognized 83,273 2,800,395 2,883,668 Balance at the end of the period $ (194,306 ) $ (9,115,614 ) $ (9,309,920 ) |
Past Due Financing Receivables [Table Text Block] | 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 $ 1,124,734,486 $ 8,306,829 $ 243,647 $ - $ 1,231,353 $ 1,134,516,315 CRE Owner-Occupied CRE 331,868,142 540,435 - - 333,900 332,742,477 Commercial Construction, Land Development, and Other Land 181,558,092 - - - 4,844,312 186,402,404 Other Non Owner-Occupied CRE 782,526,249 572,877 4,146 - 1,243,728 784,347,000 Direct Financing Leases 137,708,397 1,305,191 259,600 - 2,175,044 141,448,232 Residential Real Estate 253,261,821 3,552,709 393,410 74,519 1,363,806 258,646,265 Installment and Other Consumer 117,773,259 517,537 56,760 14,152 249,091 118,610,799 $ 2,929,430,446 $ 14,795,578 $ 957,563 $ 88,671 $ 11,441,234 $ 2,956,713,493 As a percentage of total loan/lease portfolio 99.08 % 0.50 % 0.03 % 0.00 % 0.39 % 100.00 % 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] | 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 $ - $ 1,231,353 $ 5,224,182 $ 6,455,535 34.63 % CRE Owner-Occupied CRE - 333,900 107,322 441,222 2.37 % Commercial Construction, Land Development, and Other Land - 4,844,312 - 4,844,312 25.99 % Other Non Owner-Occupied CRE - 1,243,728 - 1,243,728 6.67 % Direct Financing Leases - 2,175,044 1,494,448 3,669,492 19.68 % Residential Real Estate 74,519 1,363,806 272,493 1,710,818 9.18 % Installment and Other Consumer 14,152 249,091 14,027 277,270 1.49 % $ 88,671 $ 11,441,234 $ 7,112,472 $ 18,642,377 100.00 % 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] | Year Ended December 31, 2017 C&I CRE 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 charged to expense 2,736,296 4,044,460 1,369,624 197,034 122,505 8,469,919 Loans/leases charged off (1,149,790 ) (1,795,229 ) (2,284,910 ) (102,088 ) (41,196 ) (5,373,213 ) Recoveries on loans/leases previously charged off 191,420 42,848 185,486 29,141 52,679 501,574 Balance, ending $ 14,323,036 $ 13,962,688 $ 2,382,098 $ 2,466,431 $ 1,221,475 $ 34,355,728 Year Ended December 31, 2016 C&I CRE 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 2,478,912 2,286,953 2,127,463 628,114 (43,276 ) 7,478,166 Loans/leases charged off (527,152 ) (24,304 ) (2,503,417 ) (76,820 ) (112,490 ) (3,244,183 ) Recoveries on loans/leases previously charged off 109,270 32,843 92,764 900 146,782 382,559 Balance, ending $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Year Ended December 31, 2015 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 8,833,832 $ 8,353,386 $ 3,359,400 $ 1,525,952 $ 1,001,795 $ 23,074,365 Provisions charged to expense 1,470,526 3,080,611 1,688,031 430,087 201,645 6,870,900 Loans/leases charged off (453,782 ) (2,560,749 ) (1,788,772 ) (169,996 ) (251,838 ) (5,225,137 ) Recoveries on loans/leases previously charged off 633,504 501,869 136,429 4,107 144,869 1,420,778 Balance, ending $ 10,484,080 $ 9,375,117 $ 3,395,088 $ 1,790,150 $ 1,096,471 $ 26,140,906 2017 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 715,627 $ 1,429,460 $ 504,469 $ 355,167 $ 38,596 $ 3,043,319 Allowance for nonimpaired loans/leases 13,607,409 12,533,228 1,877,629 2,111,264 1,182,879 31,312,409 $ 14,323,036 $ 13,962,688 $ 2,382,098 $ 2,466,431 $ 1,221,475 $ 34,355,728 Impaired loans/leases $ 6,248,209 $ 6,529,262 $ 3,669,492 $ 1,704,846 $ 202,354 $ 18,354,163 Nonimpaired loans/leases 1,128,268,106 1,296,962,620 137,778,740 256,941,419 118,408,445 2,938,359,330 $ 1,134,516,315 $ 1,303,491,882 $ 141,448,232 $ 258,646,265 $ 118,610,799 $ 2,956,713,493 Allowance as a percentage of impaired loans/leases 11.45 % 21.89 % 13.75 % 20.83 % 19.07 % 16.58 % Allowance as a percentage of nonimpaired loans/leases 1.21 % 0.97 % 1.36 % 0.82 % 1.00 % 1.07 % Total allowance as a percentage of total loans/leases 1.26 % 1.07 % 1.68 % 0.95 % 1.03 % 1.16 % 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] | 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 $ 1,634,269 $ 1,644,706 $ - $ 1,406,310 $ 71,183 $ 71,183 CRE Owner-Occupied CRE 289,261 289,261 - 79,317 11,902 11,902 Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,171,565 1,171,565 - 1,176,738 - - Direct Financing Leases 2,944,540 2,944,540 - 2,879,695 132,167 132,167 Residential Real Estate 943,388 1,018,167 - 685,807 1,161 1,161 Installment and Other Consumer 134,245 134,245 - 126,474 - - $ 7,117,268 $ 7,202,484 $ - $ 6,354,341 $ 216,413 $ 216,413 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 4,613,940 $ 4,617,879 $ 715,627 $ 4,584,142 $ 203,221 $ 203,221 CRE Owner-Occupied CRE 151,962 151,962 48,462 221,260 - - Commercial Construction, Land Development, and Other Land 4,844,312 4,844,312 1,379,235 4,447,831 - - Other Non Owner-Occupied CRE 72,163 72,163 1,763 44,667 - - Direct Financing Leases 724,953 724,953 504,469 625,107 - - Residential Real Estate 761,458 761,458 355,167 549,286 14,990 14,990 Installment and Other Consumer 68,109 68,109 38,596 40,152 410 410 $ 11,236,897 $ 11,240,836 $ 3,043,319 $ 10,512,445 $ 218,621 $ 218,621 Total Impaired Loans/Leases: C&I $ 6,248,209 $ 6,262,585 $ 715,627 $ 5,990,452 $ 274,404 $ 274,404 CRE Owner-Occupied CRE 441,222 441,222 48,462 300,577 11,902 11,902 Commercial Construction, Land Development, and Other Land 4,844,312 4,844,312 1,379,235 4,447,831 - - Other Non Owner-Occupied CRE 1,243,728 1,243,728 1,763 1,221,405 - - Direct Financing Leases 3,669,492 3,669,492 504,469 3,504,802 132,167 132,167 Residential Real Estate 1,704,846 1,779,625 355,167 1,235,093 16,151 16,151 Installment and Other Consumer 202,354 202,354 38,596 166,626 410 410 $ 18,354,163 $ 18,443,318 $ 3,043,319 $ 16,866,786 $ 435,034 $ 435,034 2016 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 $ 841,895 $ 951,600 $ - $ 2,858,343 $ 16,748 $ 16,748 CRE Owner-Occupied CRE - 93,774 - 312,242 - - Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,196,549 1,196,549 - 1,322,654 - - Direct Financing Leases 1,690,121 1,690,121 - 1,731,982 43,461 43,461 Residential Real Estate 853,294 892,495 - 964,590 9,903 9,903 Installment and Other Consumer 55,734 55,734 - 321,175 4,475 4,475 $ 4,637,593 $ 4,880,273 $ - $ 7,510,986 $ 74,587 $ 74,587 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 8,094,556 $ 8,098,395 $ 1,771,537 $ 2,959,495 $ 17,742 $ 17,742 CRE Owner-Occupied CRE 322,148 322,148 57,398 385,269 - - Commercial Construction, Land Development, and Other Land 4,353,817 4,353,819 577,611 1,022,930 - - Other Non Owner-Occupied CRE 239,600 239,600 58,910 47,920 - - Direct Financing Leases 1,566,143 1,566,143 848,919 841,733 36,303 36,303 Residential Real Estate 807,886 882,018 289,112 573,211 11,675 11,675 Installment and Other Consumer 50,356 50,356 39,481 40,384 527 527 $ 15,434,506 $ 15,512,479 $ 3,642,968 $ 5,870,942 $ 66,247 $ 66,247 Total Impaired Loans/Leases: C&I $ 8,936,451 $ 9,049,995 $ 1,771,537 $ 5,817,838 $ 34,490 $ 34,490 CRE Owner-Occupied CRE 322,148 415,922 57,398 697,511 - - Commercial Construction, Land Development, and Other Land 4,353,817 4,353,819 577,611 1,022,930 - - Other Non Owner-Occupied CRE 1,436,149 1,436,149 58,910 1,370,574 - - Direct Financing Leases 3,256,264 3,256,264 848,919 2,573,715 79,764 79,764 Residential Real Estate 1,661,180 1,774,513 289,112 1,537,801 21,578 21,578 Installment and Other Consumer 106,090 106,090 39,481 361,559 5,002 5,002 $ 20,072,099 $ 20,392,752 $ 3,642,968 $ 13,381,928 $ 140,834 $ 140,834 2015 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 $ 234,636 $ 346,072 $ - $ 380,495 $ 7,436 $ 7,436 CRE Owner-Occupied CRE 256,761 350,535 - 447,144 - - Commercial Construction, Land Development, and Other Land - 228,818 - 117,406 - - Other Non Owner-Occupied CRE 1,578,470 1,578,470 - 2,953,888 - - Direct Financing Leases 871,884 871,884 - 892,281 4,142 4,142 Residential Real Estate 613,486 649,064 - 1,047,001 3,929 3,929 Installment and Other Consumer 377,304 377,304 - 817,854 9,563 9,563 $ 3,932,541 $ 4,402,147 $ - $ 6,656,069 $ 25,070 $ 25,070 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 5,051,846 $ 5,055,685 $ 2,592,270 $ 4,811,046 $ - $ - CRE Owner-Occupied CRE - - - - - - Commercial Construction, Land Development, and Other Land 193,804 205,804 76,934 195,986 - - Other Non Owner-Occupied CRE - - - - - - Direct Financing Leases 829,457 829,457 306,193 474,458 - - Residential Real Estate 805,301 805,301 185,801 712,085 7,913 7,913 Installment and Other Consumer 210,438 210,438 143,089 189,539 5,693 5,693 $ 7,090,846 $ 7,106,685 $ 3,304,287 $ 6,383,114 $ 13,606 $ 13,606 Total Impaired Loans/Leases: C&I $ 5,286,482 $ 5,401,757 $ 2,592,270 $ 5,191,541 $ 7,436 $ 7,436 CRE Owner-Occupied CRE 256,761 350,535 - 447,144 - - Commercial Construction, Land Development, and Other Land 193,804 434,622 76,934 313,392 - - Other Non Owner-Occupied CRE 1,578,470 1,578,470 - 2,953,888 - - Direct Financing Leases 1,701,341 1,701,341 306,193 1,366,739 4,142 4,142 Residential Real Estate 1,418,787 1,454,365 185,801 1,759,086 11,842 11,842 Installment and Other Consumer 587,742 587,742 143,089 1,007,393 15,256 15,256 $ 11,023,387 $ 11,508,832 $ 3,304,287 $ 13,039,183 $ 38,676 $ 38,676 |
Financing Receivable Credit Quality Indicators [Table Text Block] | 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) $ 1,098,722,101 $ 318,293,608 $ 179,142,839 $ 767,119,909 $ 2,363,278,457 96.94 % Special Mention (Rating 6) 10,944,924 8,230,060 1,780,000 10,068,870 31,023,854 1.27 % Substandard (Rating 7) 24,578,731 6,218,809 5,479,565 7,158,221 43,435,326 1.78 % Doubtful (Rating 8) 270,559 - - - 270,559 0.01 % $ 1,134,516,315 $ 332,742,477 $ 186,402,404 $ 784,347,000 $ 2,438,008,197 100.00 % 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] | 2017 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 137,778,740 $ 256,935,448 $ 118,333,529 $ 513,047,716 98.91 % Nonperforming 3,669,492 1,710,818 277,270 5,657,580 1.09 % $ 141,448,232 $ 258,646,265 $ 118,610,799 $ 518,705,296 100.00 % 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] | 2017 Classes of Loans/Leases Number of Loans / Leases Pre- Modification Recorded Investment Post- Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity Direct Financing Leases 3 $ 115,236 $ 115,236 $ - 3 $ 115,236 $ 115,236 $ - CONCESSION - Significant Payment Delay C&I 7 $ 826,531 $ 826,531 $ 62,596 CRE - Owner Occupied 1 $ 107,322 $ 107,322 - Direct Financing Leases 24 1,703,255 1,703,255 - 32 $ 2,637,108 $ 2,637,108 $ 62,596 TOTAL 35 $ 2,752,344 $ 2,752,344 $ 62,596 2016 Classes of Loans/Leases Number of Loans/Leases Pre- Modification Recorded Investment Post- Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity C&I 3 $ 247,476 $ 247,476 $ 60,767 Direct Financing Leases 4 410,653 410,653 38,476 Residential Real Estate 1 277,092 277,092 187,492 8 $ 935,221 $ 935,221 $ 286,735 CONCESSION - Significant Payment Delay C&I 7 $ 4,562,427 $ 4,562,427 $ 813,041 Direct Financing Leases 13 1,149,493 1,149,493 125,940 20 $ 5,711,920 $ 5,711,920 $ 938,981 CONCESSION - Interest Rate Adjusted Below Market CRE - Other 1 $ 1,233,740 $ 1,233,740 $ - 1 $ 1,233,740 $ 1,233,740 $ - TOTAL 29 $ 7,880,881 $ 7,880,881 $ 1,225,716 |
Schedule of Related Party Transactions [Table Text Block] | 2017 2016 2015 Balance, beginning $ 61,608,976 $ 42,012,313 $ 42,469,111 Net increase (decrease) due to change in related parties 11,926,759 19,945,960 (3,606,418 ) Advances 13,090,798 4,806,616 19,040,675 Repayments (20,184,585 ) (5,155,913 ) (15,891,055 ) Balance, ending $ 66,441,948 $ 61,608,976 $ 42,012,313 |
Schedule of Loan Concentration by Industry Segment [Table Text Block] | 2017 2016 Industry Name Balance Percentage of Total Loans/Leases Balance Percentage of Total Loans/Leases Lessors of Non-Residential Buildings $ 400,622,681 14 % $ 359,040,649 15 % Lessors of Residential Buildings 370,353,561 12 % 166,036,201 7 % Administration of Urban Planning & Community & Rural Development 83,343,541 3 % 37,097,000 2 % Bank Holding Companies 66,950,294 2 % 66,069,612 3 % Nonresidential Property Managers 51,984,722 2 % 76,504,076 3 % |
Note 5 - Premises and Equipme36
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2017 2016 Land $ 13,466,930 $ 12,936,223 Buildings (useful lives 15 to 50 years) 53,633,788 51,546,499 Furniture and equipment (useful lives 3 to 10 years) 31,984,631 28,458,946 Premises and equipment 99,085,349 92,941,668 Less accumulated depreciation 36,247,094 32,298,160 Premises and equipment, net $ 62,838,255 $ 60,643,508 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year ending December 31: 2018 363,791 2019 355,727 2020 259,798 2021 159,708 2022 91,969 Thereafter 62,858 $ 1,293,851 |
Note 6 - Goodwill and Intangi37
Note 6 - Goodwill and Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | 2017 2016 Balance at the beginning of period $ 13,110,913 $ 3,222,688 Goodwill from acquisition of Guaranty Bank 15,223,179 - Goodwill from acquisition of CSB - 9,888,225 Balance at the end of period $ 28,334,092 $ 13,110,913 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2017 2016 Balance at the beginning of the period $ 7,381,213 $ 1,471,410 Core deposit intangible from acquisition of Guaranty Bank 2,698,301 - Core deposit intangible from acquisition of CSB - 6,352,653 Amortization expense (1,000,561 ) (442,850 ) Balance at the end of the period $ 9,078,953 $ 7,381,213 Gross carrying amount $ 11,046,081 $ 8,347,780 Accumulated amortization (1,967,128 ) (966,567 ) Net book value $ 9,078,953 $ 7,381,213 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years ending December 31, Amount 2018 $ 1,218,202 2019 1,196,331 2020 1,169,934 2021 1,139,012 2022 1,103,565 Thereafter 3,251,909 $ 9,078,953 |
Note 7 - Derivatives and Hedg38
Note 7 - Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Effective Date Maturity Date Balance Sheet Location Notional Amount Accounting Treatment December 31, 2017 Fair Value December 31, 2016 Fair Value June 5, 2014 June 5, 2019 Other Assets $ 15,000,000 Cash Flow Hedging $ 190,085 $ 179,939 June 5, 2014 June 5, 2021 Other Assets 15,000,000 Cash Flow Hedging 316,615 396,588 $ 30,000,000 $ 506,700 $ 576,527 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Year Ended December 31, 2017 December 31, 2016 Unrealized loss at beginning of period, net of tax $ (932,156 ) $ (799,421 ) Amount reclassified from accumulated other comprehensive income to noninterest income related to hedge ineffectiveness - (76,797 ) Amount reclassified from accumulated other comprehensive income to noninterest expense related to hedge ineffectiveness 79,757 - Amount reclassified from accumulated other comprehensive income to interest expense related to caplet amortization 405,134 152,087 Amount of loss recognized in other comprehensive income, net of tax (357,762 ) (208,025 ) Unrealized loss at end of period, net of tax $ (805,027 ) $ (932,156 ) |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Maturities of Certificates of Deposit [Table Text Block] | Year ending December 31: 2018 $ 478,334,220 2019 86,231,955 2020 18,143,039 2021 8,223,919 2022 5,071,695 Thereafter 67,050 $ 596,071,878 |
Note 9 - Short-term Borrowings
Note 9 - Short-term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | 2017 2016 Overnight repurchase agreements with customers $ 7,003,122 $ 8,131,387 Federal funds purchased 6,990,000 31,840,000 $ 13,993,122 $ 39,971,387 |
Schedule of Repurchase Agreements [Table Text Block] | 2017 2016 Average daily balance during the period $ 7,475,824 $ 30,082,866 Average daily interest rate during the period 0.08 % 0.07 % Maximum month-end balance during the period $ 11,829,201 $ 59,833,229 Weighted average rate as of end of period 0.15 % 0.02 % 2017 2016 Average daily balance during the period $ 13,486,239 $ 19,105,595 Average daily interest rate during the period 1.31 % 0.56 % Maximum month-end balance during the period $ 33,650,000 $ 51,750,000 Weighted average rate as of end of period 1.24 % 0.70 % |
Securities Sold under Agreements to Repurchase [Member] | |
Notes Tables | |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | 2017 2016 U.S. govt. sponsored agency securities $ 2,077,702 $ 630,077 Residential mortgage-backed and related securities 18,816,280 19,090,261 Total securities pledged to overnight customer repurchase agreements 20,893,982 19,720,338 Less: overcollateralized position 13,890,860 11,588,951 $ 7,003,122 $ 8,131,387 |
Note 10 - FHLB Advances (Tables
Note 10 - FHLB Advances (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | December 31, 2017 December 31, 2016 Weighted Weighted Average Average Interest Rate Interest Rate Amount Due at Year-End Amount Due at Year-End Maturity: Year ending December 31: 2017 $ - - $ 112,500,000 0.78 % 2018 190,400,000 1.82 25,000,000 3.35 2020 1,600,000 1.75 - - Total FHLB advances $ 192,000,000 1.82 % $ 137,500,000 1.25 % |
Schedule of Prepayments of Federal Home Loan Bank Advances [Table Text Block] | 2016 Date of Restructuring Amount Weighted Average Interest Rate Range of Maturity Dates Prepayment Fees First Quarter of 2016 $ 10,000,000 3.86 % December 2017 $ 524,197 Third Quarter of 2016 5,000,000 2.84 % February 2018 127,310 Fourth Quarter of 2016 15,000,000 3.14 % September 2017 to November 2017 357,161 Total for 2016 $ 30,000,000 3.33 % $ 1,008,668 |
Note 11 - Other Borrowings an42
Note 11 - Other Borrowings and Unused Lines of Credit (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | 2017 2016 Wholesale structured repurchase agreements $ 35,000,000 $ 45,000,000 Term notes 31,000,000 30,000,000 Revolving line of credit - 5,000,000 $ 66,000,000 $ 80,000,000 |
Schedule of Wholesale Repurchase Agreements [Table Text Block] | 2017 2016 U.S. govt. sponsored agency securities $ 3,474,555 $ 20,798,703 Residential mortgage-backed and related securities 61,528,167 31,321,028 Total securities pledged to wholesale customer repurchase agreements 65,002,722 52,119,731 Less: overcollateralized position 30,002,722 7,119,731 $ 35,000,000 $ 45,000,000 |
Schedule of Prepayments of Debt [Table Text Block] | 2016 Date of Restructuring Amount Weighted Average Interest Rate Range of Maturity Dates Prepayment Fees First Quarter of 2016 $ 10,000,000 3.97 % July 2018 $ 759,000 Third Quarter of 2016 55,000,000 3.27 % February 2019 to September 2020 4,010,000 Total for 2016 $ 65,000,000 3.38 % $ 4,769,000 |
Schedule of Line of Credit Facilities [Table Text Block] | December 31, 2017 December 31, 2016 Weighted Weighted Average Average Interest Rate Interest Rate Amount Due at Year-End Amount Due at Year-End Maturity: Year ending December 31: 2017 $ - - $ 10,000,000 3.00 % 2019 10,000,000 3.44 10,000,000 3.44 2020 25,000,000 2.48 25,000,000 2.48 Total Wholesale Structured Repurchase Agreements $ 35,000,000 2.76 % $ 45,000,000 2.81 % |
Schedule of Maturities of Long-term Debt [Table Text Block] | As of December 31, 2017 2018 $ 7,750,000 2019 7,750,000 2020 7,750,000 2021 7,750,000 $ 31,000,000 |
Whole sale Repurchase Agreements [Member] | |
Notes Tables | |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | 2017 2016 Secured $ 2,967,441 $ 34,409,192 Unsecured 372,000,000 347,000,000 $ 374,967,441 $ 381,409,192 |
Note 12 - Junior Subordinated43
Note 12 - Junior Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Subordinated Borrowing [Table Text Block] | 2017 2016 Note Payable to QCR Holdings Capital Trust II $ 10,310,000 $ 10,310,000 Note Payable to QCR Holdings Capital Trust III 8,248,000 8,248,000 Note Payable to QCR Holdings Capital Trust V 10,310,000 10,310,000 Note Payable to Community National Trust II 3,093,000 3,093,000 Note Payable to Community National Trust III 3,609,000 3,609,000 Note Payable to Guaranty Bankshares Statutory Trust I* 4,640,000 - Market Value Discount per ASC 805** (2,723,513 ) (2,089,798 ) $ 37,486,487 $ 33,480,202 |
Investments in and Advances to Affiliates [Table Text Block] | Name Date Issued Amount Outstanding December 31, 2017 Amount Outstanding December 31, 2016 Interest Rate Interest Rate as of December 31, 2017 Interest Rate as of December 31, 2016 QCR Holdings Statutory Trust II* February 2004 $ 10,310,000 $ 10,310,000 2.85% over 3-month LIBOR 4.54% 3.85% QCR Holdings Statutory Trust III February 2004 8,248,000 8,248,000 2.85% over 3-month LIBOR 4.54% 3.85% QCR Holdings Statutory Trust V February 2006 10,310,000 10,310,000 1.55% over 3-month LIBOR 2.91% 2.43% Community National Statutory Trust II September 2004 3,093,000 3,093,000 2.17% over 3-month LIBOR 3.80% 3.17% Community National Statutory Trust III March 2007 3,609,000 3,609,000 1.75% over 3-month LIBOR 3.32% 2.71% Guaranty Bankshares Statutory Trust I May 2005 4,640,000 - 1.75% over 3-month LIBOR 3.34% N/A $ 40,210,000 $ 35,570,000 Weighted Average Rate 3.82% 3.26% |
Note 13 - Federal and State I44
Note 13 - Federal and State Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2017 2016 2015 Current $ 10,976,005 $ 11,969,194 $ 5,673,774 Deferred (6,029,555 ) (3,066,407 ) (2,004,532 ) $ 4,946,450 $ 8,902,787 $ 3,669,242 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, 2017 2016 2015 % of % of % of Pretax Pretax Pretax Amount Income Amount Income Amount Income Computed "expected" tax expense $ 14,228,535 35.0 % $ 12,806,351 35.0 % $ 7,208,993 35.0 % Effect of graduated tax rates - - (250,013 ) (0.7 ) (76,973 ) (0.4 ) Tax exempt income, net (5,653,979 ) (13.9 ) (4,343,270 ) (11.9 ) (3,461,438 ) (16.8 ) Bank-owned life insurance (630,855 ) (1.5 ) (619,988 ) (1.7 ) (616,737 ) (3.0 ) State income taxes, net of federal benefit, current year 1,764,671 4.3 1,245,524 3.4 767,557 3.7 Change in unrecognized tax benefits (53,699 ) (0.1 ) 121,008 0.3 223,668 1.1 New Markets Tax Credits and other credits (341,268 ) (0.8 ) (180,000 ) (0.5 ) (180,000 ) (0.9 ) Acquisition costs - - 176,050 0.5 - - Excess tax benefit on stock options exercised and restricted stock awards vested (1,219,483 ) (3.0 ) - - - - Re-measurement of deferred tax asset to incorporate newly enacted tax rates (2,918,606 ) (7.2 ) - - - - Other (228,866 ) (0.6 ) (52,875 ) (0.1 ) (195,828 ) (0.9 ) $ 4,946,450 12.2 % $ 8,902,787 24.3 % $ 3,669,242 17.8 % |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2017 2016 Balance, beginning $ 1,346,967 $ 1,225,959 Impact of tax positions taken during current year 333,253 319,047 Gross increase (decrease) related to tax positions of prior years (40,584 ) 17,789 Reduction as a result of a lapse of the applicable statute of limitations (346,368 ) (215,828 ) Balance, ending $ 1,293,268 $ 1,346,967 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2017 2016 Deferred tax assets: Alternative minimum tax credits $ 6,513,502 $ 6,513,502 New markets tax credits 2,164,727 1,797,587 Net unrealized losses on securities available for sale and derivative instruments 498,860 1,470,759 Compensation 6,282,603 8,737,976 Loan/lease losses 8,029,714 10,479,227 Net operating loss carryforwards, federal and state 959,627 1,879,746 Other 34,962 247,594 24,483,995 31,126,391 Deferred tax liabilities: Premises and equipment 2,400,397 4,899,107 Equipment financing leases 15,367,705 22,050,540 Acquisition fair value adjustments 1,864,599 1,336,338 Investment accretion 30,656 46,581 Deferred loan origination fees, net 115,153 261,915 Other 430,125 456,219 20,208,635 29,050,700 Net deferred tax assets $ 4,275,360 $ 2,075,691 |
Deferred Taxes in Financial Statements [Table Text Block] | 2017 2016 2015 Provision for income taxes $ (6,029,555 ) $ (3,066,407 ) $ (2,004,532 ) Net deferred tax asset acquired - (3,310,553 ) - Net deferred tax asset resulting from market value adjustments of acquisitions 243,195 5,110,015 - Re-measurement of deferred tax asset to incorporate newly enacted tax rates 2,918,606 - - Statement of stockholders' equity- Other comprehensive income (loss) 668,085 (202,691 ) (81,524 ) $ (2,199,669 ) $ (1,469,636 ) $ (2,086,056 ) |
Note 14 - Employee Benefit Pl45
Note 14 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Deferred Compensation Arrangement with Individual Disclosure, Postretirement Benefits [Table Text Block] | 2017 2016 2015 Matching contribution $ 1,663,198 $ 1,365,111 $ 1,314,276 $ 1,663,198 $ 1,365,111 $ 1,314,276 |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | 2017 2016 2015 Balance, beginning $ 10,455,183 $ 8,875,025 $ 7,503,692 Employee deferrals 932,921 794,168 693,656 Company match and interest 1,024,933 848,831 726,001 Cash payments made (66,102 ) (62,841 ) (48,324 ) Balance, ending $ 12,346,935 $ 10,455,183 $ 8,875,025 |
Note 15 - Stock-based Compens46
Note 15 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | 2017 2016 2015 Stock options $ 554,435 $ 424,904 $ 393,114 Restricted stock awards 552,907 460,853 492,410 Stock purchase plan 79,694 61,417 55,945 $ 1,187,036 $ 947,174 $ 941,469 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | December 31, 2017 2016 2015 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding, beginning 587,961 $ 14.83 623,176 $ 13.88 661,771 $ 13.89 Granted 43,250 43.86 76,749 22.92 73,403 17.63 Exercised (114,100 ) 15.12 (111,423 ) 14.97 (79,638 ) 14.70 Forfeited (3,557 ) 26.74 (541 ) 18.36 (32,360 ) 20.69 Outstanding, ending 513,554 17.13 587,961 14.83 623,176 13.88 Exercisable, ending 354,269 385,372 405,832 Weighted average fair value per option granted $ 14.75 $ 7.31 $ 5.11 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Weighted Options Exercisable Average Weighted Weighted Remaining Average Average Range of Number Contractual Exercise Number Exercise Exercise Prices Outstanding Life Price Exercisable Price $7.99 to $8.93 27,850 3.06 $ 8.09 27,850 $ 8.09 $9.00 to $9.30 148,755 2.77 9.22 147,955 9.22 $15.00 to $16.85 90,668 4.59 15.63 79,369 15.64 $17.10 to $18.00 132,816 6.57 17.31 81,521 17.26 $21.71 to $31.53 70,215 8.08 22.63 16,273 22.64 $42.65 to $48.50 43,250 9.20 43.86 1,301 42.75 513,554 354,269 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | December 31, 2017 2016 2015 Outstanding, beginning $ 39,438 $ 45,046 $ 49,833 Granted 28,289 22,382 28,846 Released (21,338 ) (27,490 ) (33,633 ) Forfeited - (500 ) - Outstanding, ending $ 46,389 $ 39,438 $ 45,046 Weighted average fair value per share granted $ 44.44 $ 22.64 $ 17.80 |
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] | 2017 2016 2015 Shares granted 12,414 18,711 23,408 Shares purchased 13,318 20,192 24,033 Weighted average fair value per share granted $ 6.42 $ 3.28 $ 2.39 |
Note 16 - Regulatory Capital 47
Note 16 - Regulatory Capital Requirements and Restrictions on Dividends (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2017: Company: Total risk-based capital $ 383,282 11.15 % $ 275,090 > 8.00 % $ 318,073 > 9.250 % $ 343,862 > 10.00 % Tier 1 risk-based capital 348,530 10.14 % 206,317 > 6.00 249,300 > 7.250 275,090 > 8.00 Tier 1 leverage 348,530 8.98 % 155,256 > 4.00 155,256 > 4.000 194,070 > 5.00 Common equity Tier 1 313,012 9.10 % 154,738 > 4.50 197,721 > 5.750 223,510 > 6.50 Quad City Bank & Trust: Total risk-based capital $ 160,112 12.35 % $ 103,711 > 8.00 % $ 119,916 > 9.250 % $ 129,639 > 10.00 % Tier 1 risk-based capital 147,472 11.38 % 77,783 > 6.00 93,988 > 7.250 103,711 > 8.00 Tier 1 leverage 147,472 9.52 % 61,985 > 4.00 61,985 > 4.000 77,481 > 5.00 Common equity Tier 1 147,472 11.38 % 58,337 > 4.50 74,542 > 5.750 84,265 > 6.50 Cedar Rapids Bank & Trust: Total risk-based capital $ 138,492 11.88 % $ 93,272 > 8.00 % $ 107,846 > 9.250 % $ 116,590 > 10.00 % Tier 1 risk-based capital 126,601 10.86 % 69,954 > 6.00 84,528 > 7.250 93,272 > 8.00 Tier 1 leverage 126,601 11.68 % 43,348 > 4.00 43,348 > 4.000 54,185 > 5.00 Common equity Tier 1 126,601 10.86 % 52,465 > 4.50 67,039 > 5.750 75,783 > 6.50 Community State Bank: Total risk-based capital $ 66,271 11.71 % $ 45,293 > 8.00 % $ 52,370 > 9.250 % $ 56,616 > 10.00 % Tier 1 risk-based capital 61,941 10.94 % 33,970 > 6.00 41,047 > 7.250 45,293 > 8.00 Tier 1 leverage 61,941 9.77 % 25,354 > 4.00 25,354 > 4.000 31,693 > 5.00 Common equity Tier 1 61,941 10.94 % 25,477 > 4.50 32,554 > 5.750 36,801 > 6.50 Rockford Bank & Trust: Total risk-based capital $ 45,684 11.28 % $ 32,413 > 8.00 % $ 37,477 > 9.250 % $ 40,516 > 10.00 % Tier 1 risk-based capital 40,615 10.02 % 24,310 > 6.00 29,374 > 7.250 32,413 > 8.00 Tier 1 leverage 40,615 8.94 % 18,177 > 4.00 18,177 > 4.000 22,721 > 5.00 Common equity Tier 1 40,615 10.02 % 18,232 > 4.50 23,297 > 5.750 26,335 > 6.50 For Capital Adequacy Purposes To Be Well 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 > 8.00 % $ 244,289 > 8.625 % $ 283,233 > 10.00 % Tier 1 risk-based capital 296,366 10.46 % 169,940 > 6.00 187,642 > 6.625 226,587 > 8.00 Tier 1 leverage 296,366 9.10 % 130,229 > 4.00 130,229 > 4.000 162,787 > 5.00 Common equity Tier 1 266,419 9.41 % 127,455 > 4.50 145,157 > 5.125 184,102 > 6.50 Quad City Bank & Trust: Total risk-based capital $ 142,990 12.27 % $ 93,212 > 8.00 % $ 100,494 > 8.625 % $ 116,515 > 10.00 % Tier 1 risk-based capital 129,524 11.12 % 69,909 > 6.00 77,191 > 6.625 93,212 > 8.00 Tier 1 leverage 129,524 9.18 % 56,445 > 4.00 56,445 > 4.000 70,556 > 5.00 Common equity Tier 1 129,524 11.12 % 52,432 > 4.50 59,714 > 5.125 75,735 > 6.50 Cedar Rapids Bank & Trust: Total risk-based capital $ 106,791 12.82 % $ 66,623 > 8.00 % $ 71,828 > 8.625 % $ 83,279 > 10.00 % Tier 1 risk-based capital 96,369 11.57 % 49,968 > 6.00 55,173 > 6.625 66,623 > 8.00 Tier 1 leverage 96,369 10.69 % 36,061 > 4.00 36,061 > 4.000 45,076 > 5.00 Common equity Tier 1 96,369 11.57 % 37,476 > 4.50 42,681 > 5.125 54,132 > 6.50 Community State Bank: Total risk-based capital $ 68,216 13.81 % $ 39,521 > 8.00 % $ 42,609 > 8.625 % $ 49,402 > 10.00 % Tier 1 risk-based capital 66,746 13.51 % 29,641 > 6.00 32,729 > 6.625 39,522 > 8.00 Tier 1 leverage 66,746 11.75 % 22,726 > 4.00 22,726 > 4.000 28,408 > 5.00 Common equity Tier 1 66,746 13.51 % 22,231 > 4.50 25,319 > 5.125 32,111 > 6.50 Rockford Bank & Trust: Total risk-based capital $ 42,007 12.26 % $ 27,410 > 8.00 % $ 29,551 > 8.625 % $ 34,262 > 10.00 % Tier 1 risk-based capital 37,716 11.01 % 20,558 > 6.00 22,699 > 6.625 27,410 > 8.00 Tier 1 leverage 37,716 9.57 % 15,772 > 4.00 15,772 > 4.000 19,716 > 5.00 Common equity Tier 1 37,716 11.01 % 15,418 > 4.50 17,559 > 5.125 22,270 > 6.50 |
Note 17 - Earnings Per Share (T
Note 17 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2017 2016 2015 Net income attributable to QCR Holdings, Inc. common stockholders $ 35,706,507 $ 27,686,787 $ 16,927,881 EPS attributable to QCR Holdings, Inc. common stockholders Basic $ 2.68 $ 2.20 $ 1.64 Diluted $ 2.61 $ 2.17 $ 1.61 Weighted average common shares outstanding* 13,325,128 12,570,767 10,345,286 Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan** 355,344 195,236 154,555 Weighted average common and common equivalent shares outstanding 13,680,472 12,766,003 10,499,841 |
Note 19 - Quarterly Results o49
Note 19 - Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Year Ended December 31, 2017 March June September December 2017 2017 2017 2017 Total interest income $ 31,345,099 $ 32,453,268 $ 33,840,865 $ 37,878,086 Total interest expense 3,676,216 4,406,571 5,284,517 6,084,733 Net interest income 27,668,883 28,046,697 28,556,348 31,793,353 Provision for loan/lease losses 2,105,109 2,022,993 2,086,436 2,255,381 Noninterest income 7,283,754 6,782,518 6,701,303 9,714,717 Noninterest expense 21,273,117 21,404,629 23,395,747 31,351,204 Income before taxes 11,574,411 11,401,593 9,775,468 7,901,485 Federal and state income tax expense (benefit) 2,389,446 2,635,576 1,921,533 (2,000,105 ) Net income $ 9,184,965 $ 8,766,017 $ 7,853,935 $ 9,901,590 EPS: Basic $ 0.70 $ 0.67 $ 0.60 $ 0.72 Diluted $ 0.68 $ 0.65 $ 0.58 $ 0.70 Year Ended December 31, 2016 March June September December 2016 2016 2016 2016 Total interest income $ 23,502,059 $ 23,913,284 $ 26,816,735 $ 32,235,657 Total interest expense 2,904,537 2,904,471 3,185,958 2,955,992 Net interest income 20,597,522 21,008,813 23,630,777 29,279,665 Provision for loan/lease losses 2,072,985 1,197,850 1,607,986 2,599,345 Noninterest income 6,822,473 6,762,401 10,423,401 7,028,600 Noninterest expense 16,954,498 17,743,753 24,480,483 22,307,178 Income before taxes 8,392,512 8,829,611 7,965,709 11,401,742 Federal and state income tax expense 2,019,023 2,153,144 1,858,208 2,872,412 Net income $ 6,373,489 $ 6,676,467 $ 6,107,501 $ 8,529,330 EPS: Basic $ 0.54 $ 0.54 $ 0.47 $ 0.65 Diluted $ 0.53 $ 0.53 $ 0.46 $ 0.64 |
Note 20 - Parent Company Only50
Note 20 - Parent Company Only Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Cash and due from banks $ 4,325,582 $ 6,929,755 Interest-bearing deposits at financial institutions 601 651 Securities available for sale, at fair value 1,690,726 1,545,565 Loans/leases receivable, held for investment 1,710,000 - Investment in bank subsidiaries 410,105,525 345,866,288 Investment in nonbank subsidiaries 2,956,337 1,154,642 Premises and equipment, net 4,947,572 5,104,677 Other assets 11,630,304 15,245,521 Total assets $ 437,366,647 $ 375,847,099 Liabilities and Stockholders' Equity Liabilities: Other borrowings $ 31,000,000 $ 35,000,000 Junior subordinated debentures 37,486,487 33,480,202 Other liabilities 15,593,031 21,326,098 Total liabilities 84,079,518 89,806,300 Stockholders' Equity: Common stock 13,918,168 13,106,845 Additional paid-in capital 189,077,550 156,776,642 Retained earnings 151,962,661 118,616,901 Accumulated other comprehensive loss (1,671,250 ) (2,459,589 ) Total stockholders' equity 353,287,129 286,040,799 Total liabilities and stockholders' equity $ 437,366,647 $ 375,847,099 |
Condensed Income Statement [Table Text Block] | Condensed Statements of Income Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Total interest income $ 12,802 $ 74,489 $ 69,774 Equity in net income of bank subsidiaries 45,103,593 33,467,712 22,059,086 Equity in net income of nonbank subsidiaries 75,344 32,674 32,823 Securities gains 6,312 37,596 262,800 Other 2,700 (2,933 ) (4,436 ) Total income 45,200,751 33,609,538 22,420,047 Interest expense 2,658,414 1,735,769 1,679,909 Salaries and employee benefits 5,021,998 4,607,887 4,847,507 Professional fees 1,344,721 949,442 1,121,094 Acquisition costs 1,068,918 1,400,004 - Post-acquisition compensation, transition and integration costs 3,151,384 313,598 - Gains on debt extinguishment - (1,200,000 ) (300,000 ) Other 1,134,139 988,057 949,041 Total expenses 14,379,574 8,794,757 8,297,551 Income before income tax benefit 30,821,177 24,814,781 14,122,496 Income tax benefit 4,885,330 2,872,006 2,805,385 Net income $ 35,706,507 $ 27,686,787 $ 16,927,881 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Cash Flows from Operating Activities: Net income $ 35,706,507 $ 27,686,787 $ 16,927,881 Adjustments to reconcile net income to net cash provided by operating activities: Earnings of bank subsidiaries (45,103,593 ) (33,467,712 ) (22,059,086 ) Earnings of nonbank subsidiaries (75,344 ) (32,674 ) (32,823 ) Distributions from bank subsidiaries 21,000,000 26,000,000 9,700,000 Distributions from nonbank subsidiaries 38,734 32,860 32,695 Accretion of acquisition fair value adjustments 149,010 136,150 137,317 Depreciation 225,947 222,256 174,757 Stock-based compensation expense 1,187,036 947,174 941,469 Securities gains, net (6,312 ) (37,596 ) (262,801 ) Gains on debt extinguishment - (1,200,000 ) (300,000 ) Decrease (increase) in other assets (968,808 ) (2,346,253 ) (5,929,110 ) (Decrease) increase in other liabilities (6,918,921 ) 5,105,251 5,502,390 Net cash provided by operating activities 5,234,256 23,046,243 4,832,689 Cash Flows from Investing Activities: Net increase in interest-bearing deposits at financial institutions 50 50 189,426 Activity in securities portfolio: Purchases - (3,873,060 ) (1,764,137 ) Calls, maturities and redemptions 6,312 3,800,000 1,772,719 Sales 31,713 132,738 489,828 Capital infusion, bank subsidiaries - - (45,600,000 ) Net cash paid for acquisitions (3,368,909 ) (80,000,000 ) - Purchase of premises and equipment (68,842 ) (824,498 ) (1,517,157 ) Net cash (used in) provided by investing activities (3,399,676 ) (80,764,770 ) (46,429,321 ) Cash Flows from Financing Activities: Activity in other borrowings: Proceeds from other borrowings 7,000,000 35,000,000 - Calls, maturities and scheduled principal payments (11,000,000 ) - (2,350,000 ) Prepayments - - (19,395,116 ) Retirement of junior subordinated debentures - (3,955,000 ) (1,762,000 ) Payment of cash dividends on common and preferred stock (2,494,260 ) (1,981,541 ) (782,054 ) Net proceeds from common stock offering, 3,680,000 shares issued - - 63,484,123 Net proceeds from common stock offering, 1,215,000 shares issued - 29,828,916 - Proceeds from issuance of common stock, net 2,055,507 2,105,774 1,552,673 Net cash provided by (used in) financing activities (4,438,753 ) 60,998,149 40,747,626 Net increase (decrease) in cash and due from banks (2,604,173 ) 3,279,622 (849,006 ) Cash and due from banks: Beginning 6,929,755 3,650,133 4,499,139 Ending $ 4,325,582 $ 6,929,755 $ 3,650,133 |
Note 21 - Fair Value (Tables)
Note 21 - Fair Value (Tables) | 12 Months Ended |
Dec. 31, 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) December 31, 2017: Securities available for sale: U.S. govt. sponsored agency securities $ 38,096,534 $ - $ 38,096,534 $ - Residential mortgage-backed securities 163,301,304 - 163,301,304 - Municipal securities 66,625,496 - 66,625,496 - Other securities 4,884,573 1,028 4,883,545 - Interest rate caps 506,700 - 506,700 - Interest rate swaps - assets 4,397,238 - 4,397,238 Total assets measured at fair value $ 277,811,845 $ 1,028 $ 277,810,817 $ - Interest rate swaps - liabilities $ 4,397,238 $ - $ 4,397,238 $ - Total liabilities measured at fair value $ 4,397,238 $ - $ 4,397,238 $ - December 31, 2016: Securities available for sale: U.S. govt. sponsored agency securities $ 46,083,607 $ - $ 46,083,607 $ - Residential mortgage-backed 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 Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) December 31, 2017: Impaired loans/leases $ 8,972,337 $ - $ - $ 8,972,337 Other real estate owned 14,642,973 - - 14,642,973 $ 23,615,310 $ - $ - $ 23,615,310 December 31, 2016: Impaired loans/leases $ 12,823,121 $ - $ - $ 12,823,121 Other real estate owned 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 December 31, 2017 Fair Value December 31, 2016 Fair Value Valuation Technique Unobservable Input Range Impaired loans/leases $ 8,972,337 $ 12,823,121 Appraisal of collateral Appraisal adjustments -10.00% to -50.00% Other real estate owned 14,642,973 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 December 31, 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 $ 75,721,663 $ 75,721,663 $ 70,569,993 $ 70,569,993 Federal funds sold Level 2 30,197,000 30,197,000 22,257,000 22,257,000 Interest-bearing deposits at financial institutions Level 2 55,765,012 55,765,012 63,948,925 63,948,925 Investment securities: HTM Level 2 379,474,205 379,749,804 322,909,056 320,414,899 AFS See Previous Table 272,907,907 272,907,907 251,113,139 251,113,139 Loans/leases receivable, net Level 3 8,307,719 8,972,337 11,873,260 12,823,121 Loans/leases receivable, net Level 2 2,921,821,953 2,892,963,000 2,362,856,277 2,344,462,740 Interest rate caps Level 2 506,700 506,700 576,527 576,527 Interest rate swaps - assets Level 2 4,397,238 4,397,238 2,338,281 2,338,281 Deposits: Nonmaturity deposits Level 2 2,670,583,178 2,670,583,178 2,188,683,349 2,188,683,349 Time deposits Level 2 596,071,878 591,772,000 480,577,924 479,605,000 Short-term borrowings Level 2 13,993,122 13,993,122 39,971,387 39,971,387 FHLB advances Level 2 192,000,000 192,115,000 137,500,000 138,338,000 Other borrowings Level 2 66,000,000 66,520,000 80,000,000 81,282,000 Junior subordinated debentures Level 2 37,486,487 29,253,624 33,480,202 24,881,494 Interest rate swaps - liabilities Level 2 4,397,238 4,397,238 2,338,281 2,338,281 |
Note 22 - Business Segment In52
Note 22 - Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Commercial Banking QCBT CRBT Guaranty Bank* CSB RB&T Wealth Management All other Intercompany Eliminations Consolidated Total Twelve Months Ended December 31, 2017 Total revenue $ 58,055,715 $ 45,367,035 $ 1,806,078 $ 31,944,152 $ 18,035,971 $ 11,057,519 $ 232,660 $ (499,520 ) $ 165,999,610 Net interest income 46,407,078 31,042,302 1,551,356 27,020,674 12,707,651 - (2,663,780 ) - 116,065,281 Provision for loan/lease losses 3,908,919 1,050,000 - 2,783,000 728,000 - - - 8,469,919 Net income 22,095,055 10,712,174 346,835 7,047,671 2,660,364 2,241,494 (9,397,086 ) - 35,706,507 Goodwill 3,222,688 15,223,179 - 9,888,225 - - - - 28,334,092 Core deposit intangible - 3,693,592 - 5,385,361 - - - - 9,078,953 Total assets 1,541,777,558 1,307,376,687 - 670,516,373 461,650,765 - 28,267,478 (26,924,088 ) 3,982,664,773 Twelve Months Ended December 31, 2016 Total revenue $ 59,442,052 $ 37,242,901 $ - $ 11,406,291 $ 16,043,894 $ 9,156,948 $ 109,563 $ 4,100,975 $ 137,502,624 Net interest income 45,081,080 29,205,047 - 10,004,729 11,887,201 - (1,661,280 ) - 94,516,777 Provision for loan/lease losses 4,168,166 950,000 - 1,460,000 900,000 - - - 7,478,166 Net income 14,116,751 12,317,545 - 2,132,252 3,235,711 1,665,453 (5,780,925 ) - 27,686,787 Goodwill 3,222,688 - - 9,888,225 - - - - 13,110,913 Core deposit intangible - 1,271,897 - 6,109,316 - - - - 7,381,213 Total assets 1,395,785,241 913,055,738 - 600,075,798 391,154,780 - 34,998,902 (33,126,711 ) 3,301,943,748 Twelve Months Ended December 31, 2015 Total revenue $ 52,914,705 $ 37,593,652 $ - $ - $ 14,816,300 $ 9,103,173 $ 363,432 $ (424,688 ) $ 114,366,574 Net interest income 40,416,563 26,635,659 - - 10,854,637 - (1,610,135 ) - 76,296,724 Provision for loan/lease losses 4,367,234 1,750,000 - - 753,666 - - - 6,870,900 Net income 10,333,111 7,695,867 - - 2,402,522 1,627,586 (5,131,205 ) - 16,927,881 Goodwill 3,222,688 - - - - - - - 3,222,688 Core deposit intangible - 1,471,409 - - - - - - 1,471,409 Total assets 1,336,571,694 866,872,406 - - 367,471,639 - 27,605,704 (5,323,168 ) 2,593,198,275 |
Note 1 - Nature of Business a53
Note 1 - Nature of Business and Significant Accounting Policies (Details Textual) | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2017USD ($)shares | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($)shares | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Oct. 01, 2017USD ($) | Aug. 31, 2005USD ($) | |
Number of Subsidiaries | 4 | 4 | |||||||||||
Number of Non-Consolidated Subsidiaries Issuing Trust Preferred Securities | 6 | ||||||||||||
Cash Reserve Deposit Required and Made | $ 41,803,000 | $ 42,233,000 | $ 41,803,000 | $ 42,233,000 | |||||||||
Initial Direct Leasing Costs As a Percentage of Cost | 5.50% | 5.50% | |||||||||||
Financing Receivable, Lines of Credit Maximum Term | 1 year | ||||||||||||
Commercial Real Estate Owner Occupied, Percentage | 26.00% | 30.00% | 26.00% | 30.00% | |||||||||
Lending Threshold Requiring Additional Loan Review | $ 1,000,000 | $ 1,000,000 | |||||||||||
Goodwill | $ 28,334,092 | $ 13,110,913 | 28,334,092 | $ 13,110,913 | $ 3,222,688 | ||||||||
Goodwill, Impaired, Accumulated Impairment Loss | $ 0 | ||||||||||||
Swap Fee Income | $ 3,094,939 | $ 1,708,204 | $ 1,717,552 | ||||||||||
Preferred Stock, Shares Authorized | shares | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | ||||||||
Preferred Stock, Shares Outstanding | shares | 0 | 0 | 0 | 0 | |||||||||
Allocated Share-based Compensation Expense | $ 1,187,035 | $ 947,174 | $ 941,469 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | shares | 354,269 | 385,372 | 354,269 | 385,372 | 405,832 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 13,200,000 | $ 13,200,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 10,500,000 | 10,500,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 1,055,193 | $ 1,525,902 | $ 480,354 | ||||||||||
Income Tax Expense (Benefit) | (2,000,105) | $ 1,921,533 | $ 2,635,576 | $ 2,389,446 | $ 2,872,412 | $ 1,858,208 | $ 2,153,144 | $ 2,019,023 | 4,946,450 | 8,902,787 | 3,669,242 | ||
Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income | 304,000 | ||||||||||||
Accounting Standards Update 2016-09 [Member] | |||||||||||||
Income Tax Expense (Benefit) | (1,200,000) | ||||||||||||
Employee Stock Option [Member] | |||||||||||||
Allocated Share-based Compensation Expense | 554,435 | 424,904 | 393,114 | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 961,972 | $ 961,972 | |||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 335 days | ||||||||||||
In The Money Options [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | shares | 495,004 | 495,004 | |||||||||||
Restricted Stock [Member] | |||||||||||||
Allocated Share-based Compensation Expense | $ 552,907 | 460,853 | $ 492,410 | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 1,210,425 | $ 1,210,425 | |||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 219 days | ||||||||||||
m2 Lease Funds, LLC [Member] | |||||||||||||
Goodwill | $ 3,222,688 | ||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 80.00% | ||||||||||||
Community State Bank Acquisition [Member] | |||||||||||||
Goodwill | $ 9,888,225 | $ 9,888,225 | |||||||||||
Guaranty Bank and Trust Company [Member] | |||||||||||||
Goodwill | $ 15,223,179 | $ 15,223,179 | $ 15,223,179 | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||||||||
Subsidiaries [Member] | Fixed Rate Residential Mortgage [Member] | |||||||||||||
Financing Receivable, Term | 15 years | ||||||||||||
Commercial Portfolio Segment [Member] | |||||||||||||
Financing Receivable, Term Loans, Generally Maximum Term | 7 years | ||||||||||||
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||||||||||||
Loan and Leases Receivable, Lending Limits Percent | 300.00% | 300.00% | |||||||||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||||
Loan and Leases Receivable, Lending Limits Percent | 100.00% | 100.00% | |||||||||||
Minimum [Member] | |||||||||||||
Residual Value Percent of Cost | 3.00% | 3.00% | |||||||||||
Minimum [Member] | Subsidiaries [Member] | Adjustable Rate Residential Mortgage [Member] | |||||||||||||
Financing Receivable, Term | 1 year | ||||||||||||
Minimum [Member] | Commercial Portfolio Segment [Member] | Term Loan [Member] | |||||||||||||
Financing Receivable, Term | 3 years | ||||||||||||
Maximum [Member] | |||||||||||||
Residual Value Percent of Cost | 25.00% | 25.00% | |||||||||||
Maximum [Member] | Subsidiaries [Member] | Adjustable Rate Residential Mortgage [Member] | |||||||||||||
Financing Receivable, Term | 5 years | ||||||||||||
Maximum [Member] | Special Mention [Member] | |||||||||||||
Financing Receivable, Credit Weaknesses Borrowers, Term | 1 year | ||||||||||||
Maximum [Member] | Commercial Portfolio Segment [Member] | Term Loan [Member] | |||||||||||||
Financing Receivable, Term | 5 years |
Note 1 - Nature of Business a54
Note 1 - Nature of Business and Significant Accounting Policies - Option Pricing Model Valuation Assumptions (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expected life of option grants (Year) | 10 years | ||
Weighted-average grant date fair value (in dollars per share) | $ 14.75 | $ 7.31 | $ 5.11 |
Employee Stock Option [Member] | |||
Expected life of option grants (Year) | 6 years | 6 years | 6 years |
Weighted-average grant date fair value (in dollars per share) | $ 14.75 | $ 7.31 | $ 5.11 |
Employee Stock Option [Member] | Minimum [Member] | |||
Dividend yield | 0.36% | 0.35% | 0.37% |
Expected volatility | 29.64% | 29.32% | 28.92% |
Risk-free interest rate | 2.50% | 1.73% | 1.89% |
Employee Stock Option [Member] | Maximum [Member] | |||
Dividend yield | 0.47% | 0.51% | 0.46% |
Expected volatility | 29.95% | 29.37% | 29.32% |
Risk-free interest rate | 2.81% | 2.18% | 2.37% |
Stock Purchase Grants [Member] | |||
Weighted-average grant date fair value (in dollars per share) | $ 6.42 | $ 3.28 | $ 2.39 |
Stock Purchase Grants [Member] | Minimum [Member] | |||
Dividend yield | 0.37% | 0.33% | 0.37% |
Expected volatility | 19.80% | 12.70% | 8.81% |
Risk-free interest rate | 0.67% | 0.39% | 0.09% |
Expected life of option grants (Year) | 90 days | 90 days | 90 days |
Stock Purchase Grants [Member] | Maximum [Member] | |||
Dividend yield | 0.42% | 0.59% | 0.45% |
Expected volatility | 19.86% | 15.60% | 13.10% |
Risk-free interest rate | 1.18% | 0.57% | 0.016% |
Expected life of option grants (Year) | 180 days | 180 days | 180 days |
Note 2 - Acquisitions (Details
Note 2 - Acquisitions (Details Textual) | Oct. 01, 2017USD ($)shares | Sep. 27, 2017USD ($) | Aug. 31, 2016USD ($) | Jun. 30, 2016USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 29, 2017$ / shares | |
Number of Branches | 10 | |||||||||
Payments to Acquire Businesses, Gross | [1] | $ 7,803,420 | $ 80,000,000 | |||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 30,879,485 | |||||||||
Business Combination, Consideration Transferred | 38,682,905 | 80,000,000 | ||||||||
Debt Instrument, Face Amount | $ 35,570,000 | 40,210,000 | 35,570,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 20,684,880 | 4,808,343 | 20,684,880 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 6,352,653 | 2,698,301 | 6,352,653 | |||||||
Business Combination, Acquisition Related Costs | 1,068,918 | 1,400,004 | ||||||||
Business Combination, Integration Related Costs | 4,309,565 | 1,041,169 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 581,000,000 | 581,676,478 | 259,590,468 | 581,676,478 | ||||||
Stock Issued During Period, Shares, New Issues | shares | 1,215,000 | |||||||||
Shares Issued, Price Per Share | $ / shares | $ 24.75 | |||||||||
Proceeds from Issuance of Common Stock | $ 29,800,000 | |||||||||
Notes Payable | 30,000,000 | 30,000,000 | ||||||||
Revolving Credit Facility [Member] | ||||||||||
Proceeds from Lines of Credit | 5,000,000 | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | 10,000,000 | 10,000,000 | |||||||
Guaranty Bank and Trust Company [Member] | ||||||||||
Number of Branches | 5 | |||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Percentage of Aggregate Consideration | 79.00% | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 678,670 | |||||||||
Payments to Acquire Businesses, Gross, Percentage of Aggregate Consideration | 21.00% | |||||||||
Payments to Acquire Businesses, Gross | $ 7,803,420 | |||||||||
Share Price | $ / shares | $ 45.50 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 30,879,485 | |||||||||
Business Combination, Consideration Transferred | $ 38,682,905 | |||||||||
Debt Instrument, Face Amount | $ 7,000,000 | |||||||||
Debt Instrument, Term | 4 years | |||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount, Term | 15 years | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 4,808,343 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,698,301 | |||||||||
Business Combination, Acquisition Related Costs | 1,100,000 | |||||||||
Business Combination, Integration Related Costs | 3,100,000 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 259,590,468 | |||||||||
Guaranty Bank and Trust Company [Member] | Core Deposits [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,698,301 | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | |||||||||
Guaranty Bank and Trust Company [Member] | Five Branch Locations [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 4,614,604 | |||||||||
Impairment of Long-Lived Assets Held-for-use | $ 998,343 | |||||||||
Property, Plant and Equipment, Useful Life | 39 years | |||||||||
Guaranty Bank and Trust Company [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||||||
Nonaccretable Discount, Accelerated | 158,000 | |||||||||
Guaranty Bank and Trust Company [Member] | Other Assets [Member] | ||||||||||
Assets Held-for-sale, Not Part of Disposal Group | 3,600,000 | |||||||||
Community State Bank [Member] | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||||||
Payments to Acquire Businesses, Gross | $ 80,000,000 | |||||||||
Business Combination, Consideration Transferred | 80,000,000 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 20,684,880 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 6,352,653 | |||||||||
Business Combination, Acquisition Related Costs | 473,000 | 1,400,000 | ||||||||
Business Combination, Integration Related Costs | 1,200,000 | 1,000,000 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 581,676,478 | |||||||||
Dividends, Cash | 15,200,000 | |||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 11,400,000 | |||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 2,100,000 | |||||||||
Community State Bank [Member] | Core Deposits [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 6,352,653 | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | |||||||||
Community State Bank [Member] | Ten Branch Locations [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 19,735,000 | |||||||||
Property, Plant and Equipment, Useful Life | 39 years | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Write-up | $ 8,334,437 | |||||||||
Community State Bank [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||||||
Nonaccretable Discount, Accelerated | $ 198,000 | $ 186,000 | ||||||||
[1] | Net cash paid at closing totaled $69,905,355 for acquisition of CSB in 2016. |
Note 2 - Acquisitions - Conside
Note 2 - Acquisitions - Consideration Paid and Goodwill (Details) - USD ($) | Oct. 01, 2017 | Aug. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
ASSETS | ||||||
Cash and due from banks | [1] | $ 4,434,511 | $ 10,094,645 | |||
Interest-bearing deposits at financial institutions | 3,953,907 | 14,730,157 | ||||
Securities | 49,703,419 | 102,640,029 | ||||
Loans/leases receivable, net | 192,517,677 | 419,029,277 | ||||
Premises and equipment | 4,808,343 | 20,684,880 | ||||
Restricted investment securities | 476,500 | 1,512,900 | ||||
Core deposit intangible | 2,698,301 | 6,352,653 | ||||
Other assets | 997,810 | 5,283,937 | ||||
Total assets acquired | $ 581,000,000 | 259,590,468 | 581,676,478 | |||
Federal funds sold | 698,000 | |||||
Other real estate owned | 650,000 | |||||
LIABILITIES | ||||||
Deposits | 212,467,514 | 486,298,262 | ||||
Short-term borrowings | 13,102,043 | |||||
FHLB advances | 4,108,027 | 20,368,877 | ||||
Junior subordinated debentures | 3,857,275 | |||||
Other liabilities | 2,595,883 | 4,897,564 | ||||
Total liabilities assumed | 236,130,742 | 511,564,703 | ||||
Net assets acquired | 23,459,726 | 70,111,775 | ||||
Consideration paid: | ||||||
Cash | [2] | 7,803,420 | 80,000,000 | |||
Common stock | 30,879,485 | |||||
Total consideration paid | 38,682,905 | 80,000,000 | ||||
Goodwill | 28,334,092 | $ 13,110,913 | $ 3,222,688 | |||
Guaranty Bank and Trust Company [Member] | ||||||
ASSETS | ||||||
Cash and due from banks | $ 4,434,511 | |||||
Interest-bearing deposits at financial institutions | 3,953,907 | |||||
Securities | 49,703,419 | |||||
Loans/leases receivable, net | 192,517,677 | |||||
Premises and equipment | 4,808,343 | |||||
Restricted investment securities | 476,500 | |||||
Core deposit intangible | 2,698,301 | |||||
Other assets | 997,810 | |||||
Total assets acquired | 259,590,468 | |||||
LIABILITIES | ||||||
Deposits | 212,467,514 | |||||
Short-term borrowings | 13,102,043 | |||||
FHLB advances | 4,108,027 | |||||
Junior subordinated debentures | 3,857,275 | |||||
Other liabilities | 2,595,883 | |||||
Total liabilities assumed | 236,130,742 | |||||
Net assets acquired | 23,459,726 | |||||
Consideration paid: | ||||||
Cash | 7,803,420 | |||||
Common stock | 30,879,485 | |||||
Total consideration paid | 38,682,905 | |||||
Goodwill | $ 15,223,179 | $ 15,223,179 | ||||
Community State Bank [Member] | ||||||
ASSETS | ||||||
Cash and due from banks | 10,094,645 | |||||
Interest-bearing deposits at financial institutions | 14,730,157 | |||||
Securities | 102,640,029 | |||||
Loans/leases receivable, net | 419,029,277 | |||||
Premises and equipment | 20,684,880 | |||||
Restricted investment securities | 1,512,900 | |||||
Core deposit intangible | 6,352,653 | |||||
Other assets | 5,283,937 | |||||
Total assets acquired | 581,676,478 | |||||
Federal funds sold | 698,000 | |||||
Other real estate owned | 650,000 | |||||
LIABILITIES | ||||||
Deposits | 486,298,262 | |||||
FHLB advances | 20,368,877 | |||||
Other liabilities | 4,897,564 | |||||
Total liabilities assumed | 511,564,703 | |||||
Net assets acquired | 70,111,775 | |||||
Consideration paid: | ||||||
Cash | 80,000,000 | |||||
Total consideration paid | 80,000,000 | |||||
Goodwill | $ 9,888,225 | |||||
[1] | Net cash paid at closing totaled $69,905,355 | |||||
[2] | Net cash paid at closing totaled $69,905,355 for acquisition of CSB in 2016. |
Note 2 - Acquisitions - Purchas
Note 2 - Acquisitions - Purchased Loans As of the Acquisition Date (Details) - USD ($) | Oct. 01, 2017 | Aug. 31, 2016 |
Guaranty Bank and Trust Company [Member] | ||
Contractually required principal payments | $ 196,108,766 | |
Nonaccretable discount | (1,147,198) | |
Principal cash flows expected to be collected | 194,961,568 | |
Accretable discount | (2,443,891) | |
Fair Value of acquired loans | 192,517,677 | |
Guaranty Bank and Trust Company [Member] | Performing Financial Instruments [Member] | ||
Contractually required principal payments | 192,982,439 | |
Nonaccretable discount | ||
Principal cash flows expected to be collected | 192,982,439 | |
Accretable discount | (2,223,989) | |
Fair Value of acquired loans | 190,758,450 | |
Community State Bank [Member] | ||
Contractually required principal payments | $ 435,748,088 | |
Nonaccretable discount | (4,525,223) | |
Principal cash flows expected to be collected | 431,222,865 | |
Accretable discount | (12,193,588) | |
Fair Value of acquired loans | 419,029,277 | |
Community State Bank [Member] | Performing Financial Instruments [Member] | ||
Contractually required principal payments | 427,398,400 | |
Nonaccretable discount | ||
Principal cash flows expected to be collected | 427,398,400 | |
Accretable discount | (11,916,009) | |
Fair Value of acquired loans | 415,482,391 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Guaranty Bank and Trust Company [Member] | ||
Contractually required principal payments | 3,126,327 | |
Nonaccretable discount | (1,147,198) | |
Principal cash flows expected to be collected | 1,979,129 | |
Accretable discount | (219,902) | |
Fair Value of acquired loans | $ 1,759,227 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Community State Bank [Member] | ||
Contractually required principal payments | 8,349,688 | |
Nonaccretable discount | (4,525,223) | |
Principal cash flows expected to be collected | 3,824,465 | |
Accretable discount | (277,579) | |
Fair Value of acquired loans | $ 3,546,886 |
Note 2 - Acquisitions - Changes
Note 2 - Acquisitions - Changes in Accretable Yield (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at the beginning of the period | $ (9,309,920) | |
Discount added at acquisition | (2,443,891) | (12,193,588) |
Accretion recognized | 5,282,604 | 2,883,668 |
Balance at the end of the period | (6,471,207) | (9,309,920) |
Performing Financial Instruments [Member] | ||
Balance at the beginning of the period | (9,115,614) | |
Discount added at acquisition | (2,223,989) | (11,916,009) |
Accretion recognized | 5,059,528 | 2,800,395 |
Balance at the end of the period | (6,280,075) | (9,115,614) |
Guaranty Bank and Trust Company [Member] | ||
Balance at the beginning of the period | ||
Discount added at acquisition | (2,443,891) | |
Accretion recognized | 80,906 | |
Balance at the end of the period | (2,362,985) | |
Guaranty Bank and Trust Company [Member] | Performing Financial Instruments [Member] | ||
Balance at the beginning of the period | ||
Discount added at acquisition | (2,223,989) | |
Accretion recognized | 26,836 | |
Balance at the end of the period | (2,197,153) | |
Community State Bank [Member] | ||
Balance at the beginning of the period | (9,309,920) | |
Discount added at acquisition | (12,193,588) | |
Accretion recognized | 5,201,698 | 2,883,668 |
Balance at the end of the period | (4,108,222) | (9,309,920) |
Community State Bank [Member] | Performing Financial Instruments [Member] | ||
Balance at the beginning of the period | (9,115,614) | |
Discount added at acquisition | (11,916,009) | |
Accretion recognized | 5,032,692 | 2,800,395 |
Balance at the end of the period | (4,082,922) | (9,115,614) |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Balance at the beginning of the period | (194,306) | |
Discount added at acquisition | (219,902) | (277,579) |
Accretion recognized | 223,076 | 83,273 |
Balance at the end of the period | (191,132) | (194,306) |
Receivables Acquired with Deteriorated Credit Quality [Member] | Guaranty Bank and Trust Company [Member] | ||
Balance at the beginning of the period | ||
Discount added at acquisition | (219,902) | |
Accretion recognized | 54,070 | |
Balance at the end of the period | (165,832) | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Community State Bank [Member] | ||
Balance at the beginning of the period | (194,306) | |
Discount added at acquisition | (277,579) | |
Accretion recognized | 169,006 | 83,273 |
Balance at the end of the period | $ (25,300) | $ (194,306) |
Note 2 - Acquisitions - Pro For
Note 2 - Acquisitions - Pro Forma Combined Operating Results (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Guaranty Bank and Trust Company [Member] | |||
Net interest income | $ 122,923 | $ 102,902 | |
Noninterest income | 32,703 | 34,238 | |
Net income | $ 38,728 | $ 27,103 | |
Basic (in dollars per share) | $ 2.80 | $ 2.05 | |
Diluted (in dollars per share) | $ 2.73 | $ 2.02 | |
Community State Bank [Member] | |||
Net interest income | $ 110,035 | $ 98,483 | |
Noninterest income | 34,773 | 31,051 | |
Net income | $ 34,137 | $ 22,118 | |
Basic (in dollars per share) | $ 2.62 | $ 1.91 | |
Diluted (in dollars per share) | $ 2.58 | $ 1.89 |
Note 3 - Investment Securitie60
Note 3 - Investment Securities (Details Textual) | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2016USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Number of Securities | 613 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 223 | |||
Aggregate Depreciation from Amortized Cost Basis, Percent | 0.80% | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 110 | |||
Other than Temporary Impairment Losses, Investments | $ 0 | $ 0 | $ 0 | |
Gain on Sale of Investments | $ 4,010,877 | 67,351 | 4,845,009 | $ 1,045,444 |
Security Owned and Pledged as Collateral, Fair Value | $ 78,642,843 | $ 118,811,905 | ||
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 | 131 | 116 | ||
Other Investments | $ 108,000,000 | $ 116,500,000 | ||
Number of States Investments Held in | 26 | 21 | ||
Municipal Bonds [Member] | General Obligation Bonds [Member] | Minimum [Member] | ||||
Other Investments | $ 5,000,000 | $ 5,000,000 | ||
Municipal Bonds [Member] | General Obligation Bonds [Member] | Aggregate Fair Value Exceeding 5 Million [Member] | ||||
Number of States Investments Held in | 6 | 5 | ||
Municipal Bonds [Member] | Revenue Bonds [Member] | ||||
Number of Issuers | 145 | 120 | ||
Other Investments | $ 337,300,000 | $ 255,500,000 | ||
Number of States Investments Held in | 16 | 12 | ||
Municipal Bonds [Member] | Revenue Bonds [Member] | Minimum [Member] | ||||
Other Investments | $ 5,000,000 | $ 5,000,000 | ||
Municipal Bonds [Member] | Revenue Bonds [Member] | Aggregate Fair Value Exceeding 5 Million [Member] | ||||
Number of States Investments Held in | 7 | 6 | ||
Equity Securities [Member] | ||||
Percentage of Investment Portfolio | 1.00% | 1.00% |
Note 3 - Investment Securitie61
Note 3 - Investment Securities - Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities held to maturity: | ||
Securities held to maturity, at amortized cost | $ 379,474,205 | $ 322,909,056 |
Securities held to maturity, gross unrealized gains | 2,763,718 | 2,200,577 |
Securities held to maturity, gross unrealized (losses) | (2,488,119) | (4,694,734) |
Securities held to maturity, fair value | 379,749,804 | 320,414,899 |
Securities available for sale: | ||
Securities available for sale, amortized cost | 274,058,995 | 253,609,401 |
Securities available for sale, gross unrealized gains | 1,749,323 | 1,437,658 |
Securities available for sale, gross unrealized (losses) | (2,900,411) | (3,933,920) |
Securities available for sale, fair value | 272,907,907 | 251,113,139 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities held to maturity: | ||
Securities held to maturity, at amortized cost | 378,424,205 | 321,859,056 |
Securities held to maturity, gross unrealized gains | 2,763,718 | 2,200,577 |
Securities held to maturity, gross unrealized (losses) | (2,488,119) | (4,694,734) |
Securities held to maturity, fair value | 378,699,804 | 319,364,899 |
Securities available for sale: | ||
Securities available for sale, amortized cost | 66,176,364 | 52,816,541 |
Securities available for sale, gross unrealized gains | 660,232 | 425,801 |
Securities available for sale, gross unrealized (losses) | (211,100) | (637,916) |
Securities available for sale, fair value | 66,625,496 | 52,604,426 |
Other Securities [Member] | ||
Securities held to maturity: | ||
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) | ||
Securities held to maturity, fair value | 1,050,000 | 1,050,000 |
Securities available for sale: | ||
Securities available for sale, amortized cost | 4,014,004 | 4,046,332 |
Securities available for sale, gross unrealized gains | 896,384 | 703,978 |
Securities available for sale, gross unrealized (losses) | (25,815) | (27,331) |
Securities available for sale, fair value | 4,884,573 | 4,722,979 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, amortized cost | 38,409,157 | 46,281,306 |
Securities available for sale, gross unrealized gains | 37,344 | 132,886 |
Securities available for sale, gross unrealized (losses) | (349,967) | (330,585) |
Securities available for sale, fair value | 38,096,534 | 46,083,607 |
Residential Mortgage Backed Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, amortized cost | 165,459,470 | 150,465,222 |
Securities available for sale, gross unrealized gains | 155,363 | 174,993 |
Securities available for sale, gross unrealized (losses) | (2,313,529) | (2,938,088) |
Securities available for sale, fair value | $ 163,301,304 | $ 147,702,127 |
Note 3 - Investment Securitie62
Note 3 - Investment Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available for sale: | ||
Securities available for sale, less than 12 months, fair value | $ 128,656,909 | $ 180,624,957 |
Securities available for sale, less than 12 months, gross unrealized losses | (1,138,843) | (3,545,097) |
Securities available for sale, 12 months or more, fair value | 71,569,641 | 13,274,726 |
Securities available for sale, 12 months or more, gross unrealized losses | (1,761,568) | (388,823) |
Securities available for sale, fair value | 200,226,550 | 193,899,683 |
Securities available for sale, gross unrealized losses | (2,900,411) | (3,933,920) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities held to maturity: | ||
Securities held to maturity, less than 12 months, fair value | 23,750,826 | 122,271,533 |
Securities held to maturity, less than 12 months, gross unrealized losses | (354,460) | (4,076,647) |
Securities held to maturity, 12 months or more, fair value | 72,611,780 | 13,010,803 |
Securities held to maturity, 12 months or more, gross unrealized losses | (2,133,659) | (618,087) |
Securities held to maturity, fair value | 96,362,606 | 135,282,336 |
Securities held to maturity, gross unrealized losses | (2,488,119) | (4,694,734) |
Securities available for sale: | ||
Securities available for sale, less than 12 months, fair value | 10,229,337 | 34,152,822 |
Securities available for sale, less than 12 months, gross unrealized losses | (41,151) | (618,462) |
Securities available for sale, 12 months or more, fair value | 9,997,433 | 338,099 |
Securities available for sale, 12 months or more, gross unrealized losses | (169,949) | (19,454) |
Securities available for sale, fair value | 20,226,770 | 34,490,921 |
Securities available for sale, gross unrealized losses | (211,100) | (637,916) |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, less than 12 months, fair value | 28,576,258 | 21,788,139 |
Securities available for sale, less than 12 months, gross unrealized losses | (200,022) | (257,640) |
Securities available for sale, 12 months or more, fair value | 3,640,477 | 5,499,012 |
Securities available for sale, 12 months or more, gross unrealized losses | (149,945) | (72,945) |
Securities available for sale, fair value | 32,216,735 | 27,287,151 |
Securities available for sale, gross unrealized losses | (349,967) | (330,585) |
Residential Mortgage Backed Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, less than 12 months, fair value | 88,927,779 | 121,506,582 |
Securities available for sale, less than 12 months, gross unrealized losses | (871,855) | (2,641,664) |
Securities available for sale, 12 months or more, fair value | 57,931,731 | 7,437,615 |
Securities available for sale, 12 months or more, gross unrealized losses | (1,441,674) | (296,424) |
Securities available for sale, fair value | 146,859,510 | 128,944,197 |
Securities available for sale, gross unrealized losses | (2,313,529) | (2,938,088) |
Other Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, less than 12 months, fair value | 923,535 | 3,177,414 |
Securities available for sale, less than 12 months, gross unrealized losses | (25,815) | (27,331) |
Securities available for sale, 12 months or more, fair value | ||
Securities available for sale, fair value | 923,535 | 3,177,414 |
Securities available for sale, gross unrealized losses | $ (25,815) | $ (27,331) |
Note 3 - Investment Securitie63
Note 3 - Investment Securities - Sales of Securities (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Proceeds from sales of securities | $ 71,091,580 | $ 134,188,737 | $ 81,410,368 | |
Gain on Sale of Investments | $ 4,010,877 | 67,351 | 4,845,009 | 1,045,444 |
Gross losses from sales of securities | $ (155,236) | $ (252,611) | $ (246,461) |
Note 3 - Investment Securitie64
Note 3 - Investment Securities - Securities by Contractual Maturity (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities held to maturity: | ||
Securities held to maturity, due in one year or less, amortized cost | $ 2,912,158 | |
Securities held to maturity, due in one year or less, fair value | 2,909,816 | |
Securities held to maturity, due after one year through five years, amortized cost | 20,838,734 | |
Securities held to maturity, due after one year through five years, fair value | 20,896,388 | |
Securities held to maturity, due after five years, amortized cost | 355,723,313 | |
Securities held to maturity, due after five years, fair value | 355,943,600 | |
Securities held to maturity, amortized cost | 379,474,205 | |
Securities held to maturity, fair value | 379,749,804 | $ 320,414,899 |
Securities available for sale: | ||
Securities available for sale, due in one year or less, amortized cost | 1,991,755 | |
Securities available for sale, Due in one year or less, fair value | 1,996,584 | |
Securities available for sale, due after one year through five years, amortized cost | 26,984,843 | |
Securities available for sale, Due after one year through five years, fair value | 26,986,584 | |
Securities available for sale, due after five years, amortized cost | 75,608,923 | |
Securities available for sale, Due after five years, fair value | 75,738,862 | |
Securities available for sale, single maturity, amortized cost | 104,585,521 | |
Securities available for sale, single maturity, fair value | 104,722,030 | |
Securities available for sale, amortized cost | 274,058,995 | |
Securities available for sale, fair value | 272,907,907 | |
Callable Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, amortized cost | 62,603,036 | |
Securities available for sale, fair value | 62,805,571 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities held to maturity: | ||
Securities held to maturity, fair value | 378,699,804 | 319,364,899 |
US States and Political Subdivisions Debt Securities [Member] | Callable Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, no single maturity, amortized cost | 57,554,280 | |
Securities available for sale, no single maturity, fair value | 57,817,498 | |
Securities available for sale, callable, amortized cost | 57,554,280 | |
Securities available for sale, callable, fair value | 57,817,498 | |
US Government-sponsored Enterprises Debt Securities [Member] | Callable Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, no single maturity, amortized cost | 5,048,756 | |
Securities available for sale, no single maturity, fair value | 4,988,073 | |
Securities available for sale, callable, amortized cost | 5,048,756 | |
Securities available for sale, callable, fair value | 4,988,073 | |
Residential Mortgage Backed Securities [Member] | ||
Securities available for sale: | ||
Securities available for sale, no single maturity, amortized cost | 165,459,470 | |
Securities available for sale, no single maturity, fair value | 163,301,304 | |
Securities available for sale, callable, amortized cost | 165,459,470 | |
Securities available for sale, callable, fair value | 163,301,304 | |
Other Securities [Member] | ||
Securities held to maturity: | ||
Securities held to maturity, fair value | 1,050,000 | $ 1,050,000 |
Securities available for sale: | ||
Securities available for sale, no single maturity, amortized cost | 4,014,004 | |
Securities available for sale, no single maturity, fair value | 4,884,573 | |
Securities available for sale, callable, amortized cost | 4,014,004 | |
Securities available for sale, callable, fair value | 4,884,573 | |
Callable Securities [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities held to maturity: | ||
Securities held to maturity, callable, amortized cost | 208,103,672 | |
Securities held to maturity, callable, fair value | $ 208,961,233 |
Note 3 - Investment Securitie65
Note 3 - Investment Securities - General Obligation and Revenue Bonds (Details) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
General Obligation Bonds [Member] | ||
Number of issuers | 131 | 116 |
Amortized cost | $ 107,337,076 | $ 117,205,307 |
Other Investments | 107,978,015 | 116,472,635 |
Average exposure per issuer (fair value) | 824,260 | 1,004,074 |
Fair value | $ 107,978,015 | $ 116,472,635 |
General Obligation Bonds [Member] | Illinois [Member] | ||
Number of issuers | 20 | 19 |
Amortized cost | $ 19,328,700 | $ 29,214,559 |
Other Investments | 19,514,024 | 29,308,438 |
Average exposure per issuer (fair value) | 975,701 | 1,542,549 |
Fair value | $ 19,514,024 | $ 29,308,438 |
General Obligation Bonds [Member] | Iowa [Member] | ||
Number of issuers | 16 | 27 |
Amortized cost | $ 13,881,689 | $ 32,258,612 |
Other Investments | 13,969,512 | 32,231,936 |
Average exposure per issuer (fair value) | 873,095 | 1,193,775 |
Fair value | $ 13,969,512 | $ 32,231,936 |
General Obligation Bonds [Member] | Missouri [Member] | ||
Number of issuers | 17 | 14 |
Amortized cost | $ 9,243,355 | $ 8,291,192 |
Other Investments | 9,308,287 | 8,323,245 |
Average exposure per issuer (fair value) | 547,546 | 594,518 |
Fair value | $ 9,308,287 | $ 8,323,245 |
General Obligation Bonds [Member] | North Dakota [Member] | ||
Number of issuers | 7 | 7 |
Amortized cost | $ 21,626,574 | $ 22,169,050 |
Other Investments | 21,724,197 | 21,499,075 |
Average exposure per issuer (fair value) | 3,103,457 | 3,071,296 |
Fair value | $ 21,724,197 | $ 21,499,075 |
General Obligation Bonds [Member] | Ohio [Member] | ||
Number of issuers | 9 | 8 |
Amortized cost | $ 8,002,705 | $ 6,790,398 |
Other Investments | 7,938,028 | 6,651,897 |
Average exposure per issuer (fair value) | 882,003 | 831,487 |
Fair value | $ 7,938,028 | $ 6,651,897 |
General Obligation Bonds [Member] | Texas [Member] | ||
Number of issuers | 17 | |
Amortized cost | $ 11,253,775 | |
Other Investments | 11,308,848 | |
Average exposure per issuer (fair value) | 665,226 | |
Fair value | $ 11,308,848 | |
General Obligation Bonds [Member] | Other States [Member] | ||
Number of issuers | 45 | 41 |
Amortized cost | $ 24,000,278 | $ 18,481,496 |
Other Investments | 24,215,119 | 18,458,044 |
Average exposure per issuer (fair value) | 538,114 | 450,196 |
Fair value | $ 24,215,119 | $ 18,458,044 |
Revenue Bonds [Member] | ||
Number of issuers | 145 | 120 |
Amortized cost | $ 337,263,493 | $ 257,470,290 |
Other Investments | 337,347,285 | 255,496,690 |
Average exposure per issuer (fair value) | 2,326,533 | 2,129,139 |
Fair value | $ 337,347,285 | $ 255,496,690 |
Revenue Bonds [Member] | Illinois [Member] | ||
Number of issuers | 2 | |
Amortized cost | $ 17,211,441 | |
Other Investments | 17,408,544 | |
Average exposure per issuer (fair value) | 8,704,272 | |
Fair value | $ 17,408,544 | |
Revenue Bonds [Member] | Indiana [Member] | ||
Number of issuers | 26 | 22 |
Amortized cost | $ 51,171,818 | $ 47,994,737 |
Other Investments | 50,861,336 | 47,582,138 |
Average exposure per issuer (fair value) | 1,956,205 | 2,162,824 |
Fair value | $ 50,861,336 | $ 47,582,138 |
Revenue Bonds [Member] | Iowa [Member] | ||
Number of issuers | 29 | 31 |
Amortized cost | $ 68,724,899 | $ 70,788,393 |
Other Investments | 69,079,470 | 71,142,393 |
Average exposure per issuer (fair value) | 2,382,051 | 2,294,916 |
Fair value | $ 69,079,470 | $ 71,142,393 |
Revenue Bonds [Member] | Missouri [Member] | ||
Number of issuers | 56 | 47 |
Amortized cost | $ 106,259,015 | $ 90,784,441 |
Other Investments | 106,232,837 | 89,664,013 |
Average exposure per issuer (fair value) | 1,897,015 | 1,907,745 |
Fair value | $ 106,232,837 | $ 89,664,013 |
Revenue Bonds [Member] | Kansas [Member] | ||
Number of issuers | 6 | 6 |
Amortized cost | $ 12,873,329 | $ 13,476,366 |
Other Investments | 12,877,087 | 13,427,491 |
Average exposure per issuer (fair value) | 2,146,181 | 2,237,915 |
Fair value | $ 12,877,087 | $ 13,427,491 |
Revenue Bonds [Member] | North Dakota [Member] | ||
Number of issuers | 5 | 4 |
Amortized cost | $ 11,451,560 | $ 8,089,067 |
Other Investments | 11,351,676 | 7,796,381 |
Average exposure per issuer (fair value) | 2,270,335 | 1,949,095 |
Fair value | $ 11,351,676 | $ 7,796,381 |
Revenue Bonds [Member] | Ohio [Member] | ||
Number of issuers | 10 | 3 |
Amortized cost | $ 55,766,091 | $ 13,650,000 |
Other Investments | 55,820,203 | 13,405,222 |
Average exposure per issuer (fair value) | 5,582,020 | 4,468,407 |
Fair value | $ 55,820,203 | $ 13,405,222 |
Revenue Bonds [Member] | Other States [Member] | ||
Number of issuers | 11 | 7 |
Amortized cost | $ 13,805,340 | $ 12,687,286 |
Other Investments | 13,716,132 | 12,479,052 |
Average exposure per issuer (fair value) | 1,246,921 | 1,782,722 |
Fair value | $ 13,716,132 | $ 12,479,052 |
Note 4 - Loans Leases Receiva66
Note 4 - Loans Leases Receivable (Details Textual) | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | ||
Number of Leases | 10 | |||
Leveraged Lease Investment | $ 929,932 | |||
Losses on Residual Value | 0 | $ 0 | $ 0 | |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 645,001 | 1,135,500 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,441,234 | 13,919,066 | ||
Financing Receivable, Modifications, Recorded Investment | $ 9,394,967 | $ 8,647,007 | ||
Financing Receivable, Modifications, Number of Contracts | 35 | 29 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,752,344 | $ 7,880,881 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 6 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 251,940 | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 65,623 | $ 341,952 | ||
Threshold for Related Party Loans Evaluated | $ 60,000 | $ 60,000 | $ 60,000 | |
Nonaccrual [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 7 | 8 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 279,245 | $ 2,008,424 | ||
Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,282,495 | 2,300,479 | ||
Residential Portfolio Segment [Member] | ||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 645,001 | 1,135,500 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,363,806 | 1,075,639 | [1] | |
Residential Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 115,190 | 43,579 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,231,353 | 4,187,786 | [1] | |
Commercial Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 122,598 | 48,501 | ||
Commercial Real Estate Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,336,871 | 1,380,047 | ||
Finance Leases Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,175,044 | 2,446,181 | [1] | |
Finance Leases Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 700,255 | 816,149 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 249,091 | 87,344 | [1] | |
Consumer Portfolio Segment [Member] | Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 7,581 | $ 12,203 | ||
No Lease End Option Rider [Member] | ||||
Number of Leases | 13 | |||
Leveraged Lease Investment | $ 1,085,164 | |||
[1] | At December 31, 2016, 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 $12,203 in installment loans. |
Note 4 - Loans Leases Receiva67
Note 4 - Loans Leases Receivable - Composition of the Loan Lease Portfolio (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Loans | $ 2,956,713,493 | $ 2,397,414,282 | |||||
Plus deferred loan/lease origination costs, net of fees | 7,771,907 | 8,072,703 | |||||
Gross loans/leases receivable | 2,964,485,400 | 2,405,486,985 | |||||
Less allowance | (34,355,728) | (30,757,448) | $ (26,140,906) | $ (23,074,365) | |||
Net loans/leases receivable | [1] | 2,930,129,672 | 2,374,729,537 | ||||
Commercial Portfolio Segment [Member] | |||||||
Loans | [2] | 1,134,516,315 | 827,637,263 | ||||
Less allowance | (14,323,036) | (12,545,110) | (10,484,080) | (8,833,832) | |||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Loans | 1,303,491,882 | 1,093,458,860 | |||||
Less allowance | (13,962,688) | (11,670,609) | (9,375,117) | (8,353,386) | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||||||
Loans | 332,742,477 | 332,387,621 | |||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||
Loans | 186,402,404 | 165,149,491 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||||||
Loans | 784,347,000 | 595,921,748 | |||||
Finance Leases Portfolio Segment [Member] | |||||||
Loans | [1] | 141,448,232 | 165,419,360 | ||||
Plus deferred loan/lease origination costs, net of fees | [1] | 4,624,027 | 5,881,778 | ||||
Gross loans/leases receivable | [1] | 146,072,259 | 171,301,138 | ||||
Less allowance | (2,382,098) | [1] | (3,111,898) | [1] | (3,395,088) | (3,359,400) | |
Net loans/leases receivable | 143,690,161 | 168,189,240 | |||||
Net minimum lease payments to be received | [1] | 156,583,887 | 184,274,802 | ||||
Estimated unguaranteed residual values of leased assets | [1] | 929,932 | 1,085,154 | ||||
Unearned lease/residual income | [1] | (16,065,587) | (19,940,596) | ||||
Residential Portfolio Segment [Member] | |||||||
Loans | [3] | 258,646,265 | 229,233,104 | ||||
Less allowance | (2,466,431) | (2,342,344) | (1,790,150) | (1,525,952) | |||
Consumer Portfolio Segment [Member] | |||||||
Loans | 118,610,799 | 81,665,695 | |||||
Less allowance | $ (1,221,475) | $ (1,087,487) | $ (1,096,471) | $ (1,001,795) | |||
[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 nine months ended September 30, 2017 and 2016. | ||||||
[2] | Includes loans outstanding at QCBT's wholly-owned subsidiary, m2, totaling $60,981,381 and $38,668,209 as of September 30, 2017 and December 31, 2016, respectively. | ||||||
[3] | Includes residential real estate loans held for sale totaling $645,001 and $1,135,500 as of December 31, 2017 and 2016, respectively. |
Note 4 - Loans Leases Receiva68
Note 4 - Loans Leases Receivable - Changes in Accretable Yield (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at the beginning of the period | $ (9,309,920) | |
Discount added at acquisition | (2,443,891) | (12,193,588) |
Accretion recognized | 5,282,604 | 2,883,668 |
Balance at the end of the period | (6,471,207) | (9,309,920) |
Performing Financial Instruments [Member] | ||
Balance at the beginning of the period | (9,115,614) | |
Discount added at acquisition | (2,223,989) | (11,916,009) |
Accretion recognized | 5,059,528 | 2,800,395 |
Balance at the end of the period | (6,280,075) | (9,115,614) |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Balance at the beginning of the period | (194,306) | |
Discount added at acquisition | (219,902) | (277,579) |
Accretion recognized | 223,076 | 83,273 |
Balance at the end of the period | $ (191,132) | $ (194,306) |
Note 4 - Loans Leases Receiva69
Note 4 - Loans Leases Receivable - Aging of the Loan Lease Portfolio (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | ||
Current | $ 2,929,430,446 | $ 2,378,270,983 | ||
Accruing Past Due 90 Days or More | 88,671 | 966,814 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,441,234 | 13,919,066 | ||
Loans | $ 2,956,713,493 | $ 2,397,414,282 | ||
Current as a percentage of total loan/lease portfolio | 99.08% | 99.20% | ||
Accruing past due 90 days or more as a percentage of total loan/lease portfolio | 0.00% | 0.04% | ||
Nonaccrual Loans/Leases as a percentage of total loan/lease portfolio | 0.39% | 0.58% | ||
Loans and leases as a percentage of total loan/lease portfolio | 100.00% | 100.00% | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | $ 14,795,578 | $ 3,000,574 | ||
Past due as a percentage of total loan/lease portfolio | 0.50% | 0.13% | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | $ 957,563 | $ 1,256,845 | ||
Past due as a percentage of total loan/lease portfolio | 0.03% | 0.05% | ||
Commercial Portfolio Segment [Member] | ||||
Current | $ 1,124,734,486 | $ 821,637,507 | ||
Accruing Past Due 90 Days or More | 346,234 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,231,353 | 4,187,786 | [1] | |
Loans | [2] | 1,134,516,315 | 827,637,263 | |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 8,306,829 | 1,455,185 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | 243,647 | 10,551 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 1,303,491,882 | 1,093,458,860 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||||
Current | 331,868,142 | 331,812,571 | ||
Accruing Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 333,900 | 332,148 | [1] | |
Loans | 332,742,477 | 332,387,621 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Current | 181,558,092 | 160,760,034 | ||
Accruing Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,844,312 | 4,353,819 | [1] | |
Loans | 186,402,404 | 165,149,491 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||||
Current | 782,526,249 | 594,384,926 | ||
Accruing Past Due 90 Days or More | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,243,728 | 1,436,149 | [1] | |
Loans | 784,347,000 | 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 | 540,435 | |||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||||
Past Due | 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 | 572,877 | 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 | 4,146 | |||
Finance Leases Portfolio Segment [Member] | ||||
Current | 137,708,397 | 161,452,627 | ||
Accruing Past Due 90 Days or More | 215,225 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,175,044 | 2,446,181 | [1] | |
Loans | [3] | 141,448,232 | 165,419,360 | |
Finance Leases Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 1,305,191 | 730,627 | ||
Finance Leases Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | 259,600 | 574,700 | ||
Residential Portfolio Segment [Member] | ||||
Current | 253,261,821 | 227,023,552 | ||
Accruing Past Due 90 Days or More | 74,519 | 294,854 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,363,806 | 1,075,639 | [1] | |
Loans | [4] | 258,646,265 | 229,233,104 | |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 3,552,709 | 473,478 | ||
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | 393,410 | 365,581 | ||
Consumer Portfolio Segment [Member] | ||||
Current | 117,773,259 | 81,199,766 | ||
Accruing Past Due 90 Days or More | 14,152 | 110,501 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 249,091 | 87,344 | [1] | |
Loans | 118,610,799 | 81,665,695 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Past Due | 517,537 | 204,973 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
Past Due | $ 56,760 | $ 63,111 | ||
[1] | At December 31, 2016, 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] | Includes loans outstanding at QCBT's wholly-owned subsidiary, m2, totaling $60,981,381 and $38,668,209 as of September 30, 2017 and December 31, 2016, respectively. | |||
[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 nine months ended September 30, 2017 and 2016. | |||
[4] | Includes residential real estate loans held for sale totaling $645,001 and $1,135,500 as of December 31, 2017 and 2016, respectively. |
Note 4 - Loans Leases Receiva70
Note 4 - Loans Leases Receivable - Loans Leases Nonperforming Loans Leases (Details) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |||
Accruing Past Due 90 Days or More | $ 88,671 | $ 966,814 | ||||
Nonaccrual Loans/Leases | 11,441,234 | 13,919,066 | ||||
Accruing TDRs | 9,394,967 | 8,647,007 | ||||
Loans | $ 2,956,713,493 | $ 2,397,414,282 | ||||
Percentage of Total NPLs | 100.00% | 100.00% | ||||
Nonperforming Financial Instruments [Member] | ||||||
Accruing Past Due 90 Days or More | $ 88,671 | $ 966,814 | ||||
Nonaccrual Loans/Leases | 11,441,234 | [1] | 13,919,066 | [2] | ||
Accruing TDRs | 7,112,472 | 6,346,528 | ||||
Loans | $ 18,642,377 | $ 21,232,408 | ||||
Percentage of Total NPLs | 100.00% | 100.00% | ||||
Commercial Portfolio Segment [Member] | ||||||
Accruing Past Due 90 Days or More | $ 346,234 | |||||
Nonaccrual Loans/Leases | 1,231,353 | 4,187,786 | [2] | |||
Loans | [3] | 1,134,516,315 | 827,637,263 | |||
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Accruing Past Due 90 Days or More | ||||||
Nonaccrual Loans/Leases | [1] | 1,231,353 | ||||
Accruing TDRs | 5,224,182 | 4,733,997 | ||||
Loans | $ 6,455,535 | $ 9,268,017 | ||||
Percentage of Total NPLs | 34.63% | 43.65% | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans | 1,303,491,882 | $ 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 | 333,900 | 332,148 | [2] | |||
Loans | 332,742,477 | 332,387,621 | ||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Accruing Past Due 90 Days or More | ||||||
Nonaccrual Loans/Leases | 4,844,312 | 4,353,819 | [2] | |||
Loans | 186,402,404 | 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 | 1,243,728 | 1,436,149 | [2] | |||
Loans | 784,347,000 | 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] | 333,900 | ||||
Accruing TDRs | 107,322 | |||||
Loans | $ 441,222 | $ 332,148 | ||||
Percentage of Total NPLs | 2.37% | 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] | 4,844,312 | ||||
Accruing TDRs | ||||||
Loans | $ 4,844,312 | $ 4,353,819 | ||||
Percentage of Total NPLs | 25.99% | 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] | 1,243,728 | ||||
Accruing TDRs | ||||||
Loans | $ 1,243,728 | $ 1,436,149 | ||||
Percentage of Total NPLs | 6.67% | 6.77% | ||||
Finance Leases Portfolio Segment [Member] | ||||||
Accruing Past Due 90 Days or More | $ 215,225 | |||||
Nonaccrual Loans/Leases | 2,175,044 | 2,446,181 | [2] | |||
Loans | [4] | 141,448,232 | 165,419,360 | |||
Finance Leases Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Accruing Past Due 90 Days or More | ||||||
Nonaccrual Loans/Leases | [1] | 2,175,044 | ||||
Accruing TDRs | 1,494,448 | 1,008,244 | ||||
Loans | 3,669,492 | $ 3,669,492 | $ 3,669,650 | |||
Percentage of Total NPLs | 19.68% | 17.28% | ||||
Residential Portfolio Segment [Member] | ||||||
Accruing Past Due 90 Days or More | 74,519 | $ 294,854 | ||||
Nonaccrual Loans/Leases | 1,363,806 | 1,075,639 | [2] | |||
Loans | [5] | 258,646,265 | 229,233,104 | |||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Accruing Past Due 90 Days or More | $ 74,519 | |||||
Nonaccrual Loans/Leases | [1] | 1,363,806 | ||||
Accruing TDRs | 272,493 | 585,541 | ||||
Loans | 1,710,818 | $ 1,710,818 | $ 1,956,034 | |||
Percentage of Total NPLs | 9.18% | 9.21% | ||||
Consumer Portfolio Segment [Member] | ||||||
Accruing Past Due 90 Days or More | 14,152 | $ 110,501 | ||||
Nonaccrual Loans/Leases | 249,091 | 87,344 | [2] | |||
Loans | 118,610,799 | 81,665,695 | ||||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Accruing Past Due 90 Days or More | $ 14,152 | |||||
Nonaccrual Loans/Leases | [1] | 249,091 | ||||
Accruing TDRs | 14,027 | 18,746 | ||||
Loans | $ 277,270 | $ 277,270 | $ 216,591 | |||
Percentage of Total NPLs | 1.49% | 1.02% | ||||
[1] | At December 31, 2017, nonaccrual loans/leases included $2,282,495 of TDRs, including $122,598 in C&I loans, $1,336,871 in CRE loans, $700,255 in direct financing leases, $115,190 in residential real estate loans, and $7,581 in installment loans. | |||||
[2] | At December 31, 2016, 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] | Includes loans outstanding at QCBT's wholly-owned subsidiary, m2, totaling $60,981,381 and $38,668,209 as of September 30, 2017 and December 31, 2016, respectively. | |||||
[4] | 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 nine months ended September 30, 2017 and 2016. | |||||
[5] | Includes residential real estate loans held for sale totaling $645,001 and $1,135,500 as of December 31, 2017 and 2016, respectively. |
Note 4 - Loans Leases Receiva71
Note 4 - Loans Leases Receivable - Allowance for Estimated Losses on Loans Leases (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | |||||||||
Balance | $ 30,757,448 | $ 26,140,906 | $ 30,757,448 | $ 26,140,906 | $ 23,074,365 | ||||||||||||||||
Provision for loan/lease losses | $ 2,255,381 | $ 2,086,436 | $ 2,022,993 | 2,105,109 | $ 2,599,345 | $ 1,607,986 | $ 1,197,850 | 2,072,985 | 8,469,919 | 7,478,166 | 6,870,900 | ||||||||||
Loans/leases charged off | (5,373,213) | (3,244,183) | (5,225,137) | ||||||||||||||||||
Recoveries on loans/leases previously charged off | 501,574 | 382,559 | 1,420,778 | ||||||||||||||||||
Balance | 34,355,728 | 30,757,448 | 34,355,728 | 30,757,448 | 26,140,906 | ||||||||||||||||
Allowance for impaired loans/leases | $ 3,043,319 | $ 3,642,968 | |||||||||||||||||||
Allowance for nonimpaired loans/leases | 31,312,409 | 27,114,480 | |||||||||||||||||||
Less allowance for estimated losses on loans/leases | 34,355,728 | 30,757,448 | 30,757,448 | 26,140,906 | 34,355,728 | 30,757,448 | 26,140,906 | 34,355,728 | 30,757,448 | ||||||||||||
Impaired loans/leases | 18,354,163 | 20,072,099 | |||||||||||||||||||
Nonimpaired loans/leases | 2,938,359,330 | 2,377,342,183 | |||||||||||||||||||
Loans | $ 2,956,713,493 | $ 2,397,414,282 | |||||||||||||||||||
Allowance as a percentage of impaired loans/leases | 16.58% | 18.15% | |||||||||||||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.07% | 1.14% | |||||||||||||||||||
Total allowance as a percentage of total loans/leases | 1.16% | 1.28% | |||||||||||||||||||
Commercial Portfolio Segment [Member] | |||||||||||||||||||||
Balance | 12,545,110 | 10,484,080 | 12,545,110 | 10,484,080 | 8,833,832 | ||||||||||||||||
Provision for loan/lease losses | 2,736,296 | 2,478,912 | 1,470,526 | ||||||||||||||||||
Loans/leases charged off | (1,149,790) | (527,152) | (453,782) | ||||||||||||||||||
Recoveries on loans/leases previously charged off | 191,420 | 109,270 | 633,504 | ||||||||||||||||||
Balance | 14,323,036 | 12,545,110 | 14,323,036 | 12,545,110 | 10,484,080 | ||||||||||||||||
Allowance for impaired loans/leases | $ 715,627 | $ 1,771,537 | |||||||||||||||||||
Allowance for nonimpaired loans/leases | 13,607,409 | 10,773,573 | |||||||||||||||||||
Less allowance for estimated losses on loans/leases | 14,323,036 | 12,545,110 | 12,545,110 | 10,484,080 | 12,545,110 | 12,545,110 | 10,484,080 | 14,323,036 | 12,545,110 | ||||||||||||
Impaired loans/leases | 6,248,209 | 8,936,451 | |||||||||||||||||||
Nonimpaired loans/leases | 1,128,268,106 | 818,700,812 | |||||||||||||||||||
Loans | [1] | $ 1,134,516,315 | $ 827,637,263 | ||||||||||||||||||
Allowance as a percentage of impaired loans/leases | 11.45% | 19.82% | |||||||||||||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.21% | 1.32% | |||||||||||||||||||
Total allowance as a percentage of total loans/leases | 1.26% | 1.52% | |||||||||||||||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||||||||||||||||
Balance | 11,670,609 | 9,375,117 | 11,670,609 | 9,375,117 | 8,353,386 | ||||||||||||||||
Provision for loan/lease losses | 4,044,460 | 2,286,953 | 3,080,611 | ||||||||||||||||||
Loans/leases charged off | (1,795,229) | (24,304) | (2,560,749) | ||||||||||||||||||
Recoveries on loans/leases previously charged off | 42,848 | 32,843 | 501,869 | ||||||||||||||||||
Balance | 13,962,688 | 11,670,609 | 13,962,688 | 11,670,609 | 9,375,117 | ||||||||||||||||
Allowance for impaired loans/leases | $ 1,429,460 | $ 693,919 | |||||||||||||||||||
Allowance for nonimpaired loans/leases | 12,533,228 | 10,976,690 | |||||||||||||||||||
Less allowance for estimated losses on loans/leases | 13,962,688 | 11,670,609 | 11,670,609 | 9,375,117 | 11,670,609 | 11,670,609 | 9,375,117 | 13,962,688 | 11,670,609 | ||||||||||||
Impaired loans/leases | 6,529,262 | 6,112,114 | |||||||||||||||||||
Nonimpaired loans/leases | 1,296,962,620 | 1,087,346,746 | |||||||||||||||||||
Loans | $ 1,303,491,882 | $ 1,093,458,860 | |||||||||||||||||||
Allowance as a percentage of impaired loans/leases | 21.89% | 11.35% | |||||||||||||||||||
Allowance as a percentage of nonimpaired loans/leases | 0.97% | 1.01% | |||||||||||||||||||
Total allowance as a percentage of total loans/leases | 1.07% | 1.07% | |||||||||||||||||||
Finance Leases Portfolio Segment [Member] | |||||||||||||||||||||
Balance | 3,111,898 | [2] | 3,395,088 | 3,111,898 | [2] | 3,395,088 | 3,359,400 | ||||||||||||||
Provision for loan/lease losses | 1,369,624 | 2,127,463 | 1,688,031 | ||||||||||||||||||
Loans/leases charged off | (2,284,910) | (2,503,417) | (1,788,772) | ||||||||||||||||||
Recoveries on loans/leases previously charged off | 185,486 | 92,764 | 136,429 | ||||||||||||||||||
Balance | 2,382,098 | [2] | 3,111,898 | [2] | 2,382,098 | [2] | 3,111,898 | [2] | 3,395,088 | ||||||||||||
Allowance for impaired loans/leases | $ 504,469 | $ 848,919 | |||||||||||||||||||
Allowance for nonimpaired loans/leases | 1,877,629 | 2,262,979 | |||||||||||||||||||
Less allowance for estimated losses on loans/leases | 2,382,098 | [2] | 3,111,898 | [2] | 3,111,898 | [2] | 3,395,088 | 2,382,098 | [2] | 3,111,898 | [2] | 3,395,088 | 2,382,098 | [2] | 3,111,898 | [2] | |||||
Impaired loans/leases | 3,669,492 | 3,256,264 | |||||||||||||||||||
Nonimpaired loans/leases | 137,778,740 | 162,163,096 | |||||||||||||||||||
Loans | [2] | $ 141,448,232 | $ 165,419,360 | ||||||||||||||||||
Allowance as a percentage of impaired loans/leases | 13.75% | 26.07% | |||||||||||||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.36% | 1.40% | |||||||||||||||||||
Total allowance as a percentage of total loans/leases | 1.68% | 1.88% | |||||||||||||||||||
Residential Portfolio Segment [Member] | |||||||||||||||||||||
Balance | 2,342,344 | 1,790,150 | 2,342,344 | 1,790,150 | 1,525,952 | ||||||||||||||||
Provision for loan/lease losses | 197,034 | 628,114 | 430,087 | ||||||||||||||||||
Loans/leases charged off | (102,088) | (76,820) | (169,996) | ||||||||||||||||||
Recoveries on loans/leases previously charged off | 29,141 | 900 | 4,107 | ||||||||||||||||||
Balance | 2,466,431 | 2,342,344 | 2,466,431 | 2,342,344 | 1,790,150 | ||||||||||||||||
Allowance for impaired loans/leases | $ 355,167 | $ 289,112 | |||||||||||||||||||
Allowance for nonimpaired loans/leases | 2,111,264 | 2,053,232 | |||||||||||||||||||
Less allowance for estimated losses on loans/leases | 2,466,431 | 2,342,344 | 2,342,344 | 1,790,150 | 2,342,344 | 2,342,344 | 1,790,150 | 2,466,431 | 2,342,344 | ||||||||||||
Impaired loans/leases | 1,704,846 | 1,661,180 | |||||||||||||||||||
Nonimpaired loans/leases | 256,941,419 | 227,571,924 | |||||||||||||||||||
Loans | [3] | $ 258,646,265 | $ 229,233,104 | ||||||||||||||||||
Allowance as a percentage of impaired loans/leases | 20.83% | 17.40% | |||||||||||||||||||
Allowance as a percentage of nonimpaired loans/leases | 0.82% | 0.90% | |||||||||||||||||||
Total allowance as a percentage of total loans/leases | 0.95% | 1.02% | |||||||||||||||||||
Consumer Portfolio Segment [Member] | |||||||||||||||||||||
Balance | 1,087,487 | 1,096,471 | 1,087,487 | 1,096,471 | 1,001,795 | ||||||||||||||||
Provision for loan/lease losses | 122,505 | (43,276) | 201,645 | ||||||||||||||||||
Loans/leases charged off | (41,196) | (112,490) | (251,838) | ||||||||||||||||||
Recoveries on loans/leases previously charged off | 52,679 | 146,782 | 144,869 | ||||||||||||||||||
Balance | 1,221,475 | 1,087,487 | 1,221,475 | 1,087,487 | 1,096,471 | ||||||||||||||||
Allowance for impaired loans/leases | $ 38,596 | $ 39,481 | |||||||||||||||||||
Allowance for nonimpaired loans/leases | 1,182,879 | 1,048,006 | |||||||||||||||||||
Less allowance for estimated losses on loans/leases | $ 1,221,475 | $ 1,087,487 | $ 1,087,487 | $ 1,096,471 | $ 1,087,487 | $ 1,087,487 | $ 1,096,471 | 1,221,475 | 1,087,487 | ||||||||||||
Impaired loans/leases | 202,354 | 106,090 | |||||||||||||||||||
Nonimpaired loans/leases | 118,408,445 | 81,559,605 | |||||||||||||||||||
Loans | $ 118,610,799 | $ 81,665,695 | |||||||||||||||||||
Allowance as a percentage of impaired loans/leases | 19.07% | 37.21% | |||||||||||||||||||
Allowance as a percentage of nonimpaired loans/leases | 1.00% | 1.28% | |||||||||||||||||||
Total allowance as a percentage of total loans/leases | 1.03% | 1.33% | |||||||||||||||||||
[1] | Includes loans outstanding at QCBT's wholly-owned subsidiary, m2, totaling $60,981,381 and $38,668,209 as of September 30, 2017 and December 31, 2016, respectively. | ||||||||||||||||||||
[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 nine months ended September 30, 2017 and 2016. | ||||||||||||||||||||
[3] | Includes residential real estate loans held for sale totaling $645,001 and $1,135,500 as of December 31, 2017 and 2016, respectively. |
Note 4 - Loans Leases Receiva72
Note 4 - Loans Leases Receivable - Impaired Loans Leases (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Recorded investment with no specific allowance recorded | $ 7,117,268 | $ 4,637,593 | $ 3,932,541 |
Unpaid principal balance with no specific allowance recorded | 7,202,484 | 4,880,273 | 4,402,147 |
Average recorded investment with no specific allowance recorded | 6,354,341 | 7,510,986 | 6,656,069 |
Interest income recognized with no specific allowance recorded | 216,413 | 74,587 | 25,070 |
Interest income recognized for cash payments received with no specific allowance recorded | 216,413 | 74,587 | 25,070 |
Recorded investment with specific allowance recorded | 11,236,897 | 15,434,506 | 7,090,846 |
Unpaid principal balance with specific allowance recorded | 11,240,836 | 15,512,479 | 7,106,685 |
Related allowance | 3,043,319 | 3,642,968 | 3,304,287 |
Average recorded investment with specific allowance recorded | 10,512,445 | 5,870,942 | 6,383,114 |
Interest income recognized with specific allowance recorded | 218,621 | 66,247 | 13,606 |
Interest income recognized for cash payments received with specific allowance recorded | 218,621 | 66,247 | 13,606 |
Recorded investment | 18,354,163 | 20,072,099 | 11,023,387 |
Unpaid principal balance | 18,443,318 | 20,392,752 | 11,508,832 |
Average recorded investment | 16,866,786 | 13,381,928 | 13,039,183 |
Interest income recognized | 435,034 | 140,834 | 38,676 |
Interest income recognized for cash payments received | 435,034 | 140,834 | 38,676 |
Commercial Portfolio Segment [Member] | |||
Recorded investment with no specific allowance recorded | 1,634,269 | 841,895 | 234,636 |
Unpaid principal balance with no specific allowance recorded | 1,644,706 | 951,600 | 346,072 |
Average recorded investment with no specific allowance recorded | 1,406,310 | 2,858,343 | 380,495 |
Interest income recognized with no specific allowance recorded | 71,183 | 16,748 | 7,436 |
Interest income recognized for cash payments received with no specific allowance recorded | 71,183 | 16,748 | 7,436 |
Recorded investment with specific allowance recorded | 4,613,940 | 8,094,556 | 5,051,846 |
Unpaid principal balance with specific allowance recorded | 4,617,879 | 8,098,395 | 5,055,685 |
Related allowance | 715,627 | 1,771,537 | 2,592,270 |
Average recorded investment with specific allowance recorded | 4,584,142 | 2,959,495 | 4,811,046 |
Interest income recognized with specific allowance recorded | 203,221 | 17,742 | |
Interest income recognized for cash payments received with specific allowance recorded | 203,221 | 17,742 | |
Recorded investment | 6,248,209 | 8,936,451 | 5,286,482 |
Unpaid principal balance | 6,262,585 | 9,049,995 | 5,401,757 |
Average recorded investment | 5,990,452 | 5,817,838 | 5,191,541 |
Interest income recognized | 274,404 | 34,490 | 7,436 |
Interest income recognized for cash payments received | 274,404 | 34,490 | 7,436 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||
Recorded investment with no specific allowance recorded | 289,261 | 256,761 | |
Unpaid principal balance with no specific allowance recorded | 289,261 | 93,774 | 350,535 |
Average recorded investment with no specific allowance recorded | 79,317 | 312,242 | 447,144 |
Interest income recognized with no specific allowance recorded | 11,902 | ||
Interest income recognized for cash payments received with no specific allowance recorded | 11,902 | ||
Recorded investment with specific allowance recorded | 151,962 | 322,148 | |
Unpaid principal balance with specific allowance recorded | 151,962 | 322,148 | |
Related allowance | 48,462 | 57,398 | |
Average recorded investment with specific allowance recorded | 221,260 | 385,269 | |
Interest income recognized with specific allowance recorded | |||
Interest income recognized for cash payments received with specific allowance recorded | |||
Recorded investment | 441,222 | 322,148 | 256,761 |
Unpaid principal balance | 441,222 | 415,922 | 350,535 |
Average recorded investment | 300,577 | 697,511 | 447,144 |
Interest income recognized | 11,902 | ||
Interest income recognized for cash payments received | 11,902 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Recorded investment with no specific allowance recorded | |||
Unpaid principal balance with no specific allowance recorded | 228,818 | ||
Average recorded investment with no specific allowance recorded | 117,406 | ||
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 | 4,844,312 | 4,353,817 | 193,804 |
Unpaid principal balance with specific allowance recorded | 4,844,312 | 4,353,819 | 205,804 |
Related allowance | 1,379,235 | 577,611 | 76,934 |
Average recorded investment with specific allowance recorded | 4,447,831 | 1,022,930 | 195,986 |
Interest income recognized with specific allowance recorded | |||
Interest income recognized for cash payments received with specific allowance recorded | |||
Recorded investment | 4,844,312 | 4,353,817 | 193,804 |
Unpaid principal balance | 4,844,312 | 4,353,819 | 434,622 |
Average recorded investment | 4,447,831 | 1,022,930 | 313,392 |
Interest income recognized | |||
Interest income recognized for cash payments received | |||
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||
Recorded investment with no specific allowance recorded | 1,171,565 | 1,196,549 | 1,578,470 |
Unpaid principal balance with no specific allowance recorded | 1,171,565 | 1,196,549 | 1,578,470 |
Average recorded investment with no specific allowance recorded | 1,176,738 | 1,322,654 | 2,953,888 |
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 | 72,163 | 239,600 | |
Unpaid principal balance with specific allowance recorded | 72,163 | 239,600 | |
Related allowance | 1,763 | 58,910 | |
Average recorded investment with specific allowance recorded | 44,667 | 47,920 | |
Interest income recognized with specific allowance recorded | |||
Interest income recognized for cash payments received with specific allowance recorded | |||
Recorded investment | 1,243,728 | 1,436,149 | 1,578,470 |
Unpaid principal balance | 1,243,728 | 1,436,149 | 1,578,470 |
Average recorded investment | 1,221,405 | 1,370,574 | 2,953,888 |
Interest income recognized | |||
Interest income recognized for cash payments received | |||
Finance Leases Portfolio Segment [Member] | |||
Recorded investment with no specific allowance recorded | 2,944,540 | 1,690,121 | 871,884 |
Unpaid principal balance with no specific allowance recorded | 2,944,540 | 1,690,121 | 871,884 |
Average recorded investment with no specific allowance recorded | 2,879,695 | 1,731,982 | 892,281 |
Interest income recognized with no specific allowance recorded | 132,167 | 43,461 | 4,142 |
Interest income recognized for cash payments received with no specific allowance recorded | 132,167 | 43,461 | 4,142 |
Recorded investment with specific allowance recorded | 724,953 | 1,566,143 | 829,457 |
Unpaid principal balance with specific allowance recorded | 724,953 | 1,566,143 | 829,457 |
Related allowance | 504,469 | 848,919 | 306,193 |
Average recorded investment with specific allowance recorded | 625,107 | 841,733 | 474,458 |
Interest income recognized with specific allowance recorded | 36,303 | ||
Interest income recognized for cash payments received with specific allowance recorded | 36,303 | ||
Recorded investment | 3,669,492 | 3,256,264 | 1,701,341 |
Unpaid principal balance | 3,669,492 | 3,256,264 | 1,701,341 |
Average recorded investment | 3,504,802 | 2,573,715 | 1,366,739 |
Interest income recognized | 132,167 | 79,764 | 4,142 |
Interest income recognized for cash payments received | 132,167 | 79,764 | 4,142 |
Residential Portfolio Segment [Member] | |||
Recorded investment with no specific allowance recorded | 943,388 | 853,294 | 613,486 |
Unpaid principal balance with no specific allowance recorded | 1,018,167 | 892,495 | 649,064 |
Average recorded investment with no specific allowance recorded | 685,807 | 964,590 | 1,047,001 |
Interest income recognized with no specific allowance recorded | 1,161 | 9,903 | 3,929 |
Interest income recognized for cash payments received with no specific allowance recorded | 1,161 | 9,903 | 3,929 |
Recorded investment with specific allowance recorded | 761,458 | 807,886 | 805,301 |
Unpaid principal balance with specific allowance recorded | 761,458 | 882,018 | 805,301 |
Related allowance | 355,167 | 289,112 | 185,801 |
Average recorded investment with specific allowance recorded | 549,286 | 573,211 | 712,085 |
Interest income recognized with specific allowance recorded | 14,990 | 11,675 | 7,913 |
Interest income recognized for cash payments received with specific allowance recorded | 14,990 | 11,675 | 7,913 |
Recorded investment | 1,704,846 | 1,661,180 | 1,418,787 |
Unpaid principal balance | 1,779,625 | 1,774,513 | 1,454,365 |
Average recorded investment | 1,235,093 | 1,537,801 | 1,759,086 |
Interest income recognized | 16,151 | 21,578 | 11,842 |
Interest income recognized for cash payments received | 16,151 | 21,578 | 11,842 |
Consumer Portfolio Segment [Member] | |||
Recorded investment with no specific allowance recorded | 134,245 | 55,734 | 377,304 |
Unpaid principal balance with no specific allowance recorded | 134,245 | 55,734 | 377,304 |
Average recorded investment with no specific allowance recorded | 126,474 | 321,175 | 817,854 |
Interest income recognized with no specific allowance recorded | 4,475 | 9,563 | |
Interest income recognized for cash payments received with no specific allowance recorded | 4,475 | 9,563 | |
Recorded investment with specific allowance recorded | 68,109 | 50,356 | 210,438 |
Unpaid principal balance with specific allowance recorded | 68,109 | 50,356 | 210,438 |
Related allowance | 38,596 | 39,481 | 143,089 |
Average recorded investment with specific allowance recorded | 40,152 | 40,384 | 189,539 |
Interest income recognized with specific allowance recorded | 410 | 527 | 5,693 |
Interest income recognized for cash payments received with specific allowance recorded | 410 | 527 | 5,693 |
Recorded investment | 202,354 | 106,090 | 587,742 |
Unpaid principal balance | 202,354 | 106,090 | 587,742 |
Average recorded investment | 166,626 | 361,559 | 1,007,393 |
Interest income recognized | 410 | 5,002 | 15,256 |
Interest income recognized for cash payments received | $ 410 | $ 5,002 | $ 15,256 |
Note 4 - Loans Leases Receiva73
Note 4 - Loans Leases Receivable - Loans by Internally Assigned Risk Rating (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans | $ 2,956,713,493 | $ 2,397,414,282 | |
Commercial Portfolio Segment [Member] | |||
Loans | [1] | 1,134,516,315 | 827,637,263 |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Loans | 1,098,722,101 | 796,568,451 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Loans | 10,944,924 | 6,305,772 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Loans | 24,578,731 | 24,763,040 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Loans | 270,559 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 1,303,491,882 | 1,093,458,860 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||
Loans | 332,742,477 | 332,387,621 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | 186,402,404 | 165,149,491 | |
Commercial Real Estate Portfolio Segment [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||
Loans | 784,347,000 | 595,921,748 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||
Loans | 318,293,608 | 314,447,662 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | |||
Loans | 179,142,839 | 158,108,465 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||
Loans | 767,119,909 | 582,854,048 | |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||
Loans | 8,230,060 | 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 | 10,068,870 | 4,437,122 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied Commercial Real Estate Loans [Member] | |||
Loans | 6,218,809 | 10,380,369 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | |||
Loans | 5,479,565 | 5,261,026 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | |||
Loans | 7,158,221 | 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 | $ 2,438,008,197 | $ 1,921,096,123 | |
As a % of Total | 100.00% | 100.00% | |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Pass [Member] | |||
Loans | $ 2,363,278,457 | $ 1,851,978,626 | |
As a % of Total | 96.94% | 96.40% | |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Special Mention [Member] | |||
Loans | $ 31,023,854 | $ 20,082,274 | |
As a % of Total | 1.27% | 1.05% | |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Substandard [Member] | |||
Loans | $ 43,435,326 | $ 49,035,013 | |
As a % of Total | 1.78% | 2.55% | |
Commercial and Commercial Real Estate Portfolio Segments [Member] | Doubtful [Member] | |||
Loans | $ 270,559 | $ 210 | |
As a % of Total | 0.01% | 0.00% | |
[1] | Includes loans outstanding at QCBT's wholly-owned subsidiary, m2, totaling $60,981,381 and $38,668,209 as of September 30, 2017 and December 31, 2016, respectively. |
Note 4 - Loans Leases Receiva74
Note 4 - Loans Leases Receivable - Leases By Delinquency Status (Details) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Loans | $ 2,956,713,493 | $ 2,397,414,282 | ||
Nonperforming Financial Instruments [Member] | ||||
Loans | $ 18,642,377 | 21,232,408 | ||
Finance Leases Portfolio Segment [Member] | ||||
Loans | [1] | 141,448,232 | 165,419,360 | |
Finance Leases Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Loans | 137,778,740 | 161,749,710 | ||
Finance Leases Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 3,669,492 | 3,669,492 | 3,669,650 | |
Residential Portfolio Segment [Member] | ||||
Loans | [2] | 258,646,265 | 229,233,104 | |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Loans | 256,935,448 | 227,277,070 | ||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 1,710,818 | 1,710,818 | 1,956,034 | |
Consumer Portfolio Segment [Member] | ||||
Loans | 118,610,799 | 81,665,695 | ||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Loans | 118,333,529 | 81,449,104 | ||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 277,270 | $ 277,270 | 216,591 | |
Lease Residential and Consumer Portfolio Segments [Member] | ||||
Loans | $ 518,705,296 | $ 476,318,159 | ||
As a % of Total | 100.00% | 100.00% | ||
Lease Residential and Consumer Portfolio Segments [Member] | Performing Financial Instruments [Member] | ||||
Loans | $ 513,047,716 | $ 470,475,884 | ||
As a % of Total | 98.91% | 98.77% | ||
Lease Residential and Consumer Portfolio Segments [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | $ 5,657,580 | $ 5,842,275 | ||
As a % of Total | 1.09% | 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 nine months ended September 30, 2017 and 2016. | |||
[2] | Includes residential real estate loans held for sale totaling $645,001 and $1,135,500 as of December 31, 2017 and 2016, respectively. |
Note 4 - Loans Leases Receiva75
Note 4 - Loans Leases Receivable - Troubled Debt Restructurings (Details) | 12 Months Ended | |
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Loans / Leases | 35 | 29 |
Pre-Modification Recorded Investment | $ 2,752,344 | $ 7,880,881 |
Post-Modification Recorded Investment | 2,752,344 | 7,880,881 |
Specific Allowance | $ 62,596 | $ 1,225,716 |
Extended Maturity [Member] | ||
Number of Loans / Leases | 3 | 8 |
Pre-Modification Recorded Investment | $ 115,236 | $ 935,221 |
Post-Modification Recorded Investment | 115,236 | 935,221 |
Specific Allowance | $ 286,735 | |
Payment Deferral [Member] | ||
Number of Loans / Leases | 32 | 20 |
Pre-Modification Recorded Investment | $ 2,637,108 | $ 5,711,920 |
Post-Modification Recorded Investment | 2,637,108 | 5,711,920 |
Specific Allowance | $ 62,596 | $ 938,981 |
Interest Rate Below Market Reduction [Member] | ||
Number of Loans / Leases | 1 | |
Pre-Modification Recorded Investment | $ 1,233,740 | |
Post-Modification Recorded Investment | 1,233,740 | |
Specific Allowance | ||
Finance Leases Portfolio Segment [Member] | Extended Maturity [Member] | ||
Number of Loans / Leases | 3 | 4 |
Pre-Modification Recorded Investment | $ 115,236 | $ 410,653 |
Post-Modification Recorded Investment | 115,236 | 410,653 |
Specific Allowance | $ 38,476 | |
Finance Leases Portfolio Segment [Member] | Payment Deferral [Member] | ||
Number of Loans / Leases | 24 | 13 |
Pre-Modification Recorded Investment | $ 1,703,255 | $ 1,149,493 |
Post-Modification Recorded Investment | 1,703,255 | 1,149,493 |
Specific Allowance | $ 125,940 | |
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||
Number of Loans / Leases | 3 | |
Pre-Modification Recorded Investment | $ 247,476 | |
Post-Modification Recorded Investment | 247,476 | |
Specific Allowance | $ 60,767 | |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Number of Loans / Leases | 7 | 7 |
Pre-Modification Recorded Investment | $ 826,531 | $ 4,562,427 |
Post-Modification Recorded Investment | 826,531 | 4,562,427 |
Specific Allowance | $ 62,596 | $ 813,041 |
Residential Portfolio Segment [Member] | Extended Maturity [Member] | ||
Number of Loans / Leases | 1 | |
Pre-Modification Recorded Investment | $ 277,092 | |
Post-Modification Recorded Investment | 277,092 | |
Specific Allowance | $ 187,492 | |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | Owner Occupied Commercial Real Estate Loans [Member] | ||
Number of Loans / Leases | 1 | |
Pre-Modification Recorded Investment | $ 107,322 | |
Post-Modification Recorded Investment | 107,322 | |
Specific Allowance | ||
Commercial Real Estate Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | Other Non-owner Occupied Commercial Real Estate Loans [Member] | ||
Number of Loans / Leases | 1 | |
Pre-Modification Recorded Investment | $ 1,233,740 | |
Post-Modification Recorded Investment | 1,233,740 | |
Specific Allowance |
Note 4 - Loans Leases Receiva76
Note 4 - Loans Leases Receivable - Related Party Loans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning | $ 61,608,976 | $ 42,012,313 | $ 42,469,111 |
Net increase (decrease) due to change in related parties | 11,926,759 | 19,945,960 | (3,606,418) |
Advances | 13,090,798 | 4,806,616 | 19,040,675 |
Repayments | (20,184,585) | (5,155,913) | (15,891,055) |
Balance, ending | $ 66,441,948 | $ 61,608,976 | $ 42,012,313 |
Note 4 - Loans Leases Receiva77
Note 4 - Loans Leases Receivable - Concentration by Industries (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Gross loans/leases receivable | $ 2,964,485,400 | $ 2,405,486,985 |
Lessors of Non-residential Buildings [Member] | ||
Gross loans/leases receivable | $ 400,622,681 | $ 359,040,649 |
Percentage of total loans/leases | 14.00% | 15.00% |
Lessors of Residential Buildings [Member] | ||
Gross loans/leases receivable | $ 370,353,561 | $ 166,036,201 |
Percentage of total loans/leases | 12.00% | 7.00% |
Administration of Urban Planning and Community and Rural Development [Member] | ||
Gross loans/leases receivable | $ 83,343,541 | $ 37,097,000 |
Percentage of total loans/leases | 3.00% | 2.00% |
Bank Holding Companies [Member] | ||
Gross loans/leases receivable | $ 66,950,294 | $ 66,069,612 |
Percentage of total loans/leases | 2.00% | 3.00% |
Nonresidential Property Managers [Member] | ||
Gross loans/leases receivable | $ 51,984,722 | $ 76,504,076 |
Percentage of total loans/leases | 2.00% | 3.00% |
Note 5 - Premises and Equipme78
Note 5 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Leases, Rent Expense | $ 348,467 | $ 334,977 | $ 339,839 |
General Contractor [Member] | Estimated Full Contract Price to Complete Remodel [Member] | |||
Related Party Transaction, Amounts of Transaction | 3,700,000 | ||
Due to Related Parties | $ 2,200,000 |
Note 5 - Premises and Equipme79
Note 5 - Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Land | $ 13,466,930 | $ 12,936,223 |
Buildings (useful lives 15 to 50 years) | 53,633,788 | 51,546,499 |
Furniture and equipment (useful lives 3 to 10 years) | 31,984,631 | 28,458,946 |
Premises and equipment | 99,085,349 | 92,941,668 |
Less accumulated depreciation | 36,247,094 | 32,298,160 |
Premises and equipment, net | $ 62,838,255 | $ 60,643,508 |
Note 5 - Premises and Equipme80
Note 5 - Premises and Equipment - Components of Premises and Equipment (Details) (Parentheticals) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Building [Member] | Minimum [Member] | ||
Useful lives (Year) | 15 years | 15 years |
Building [Member] | Maximum [Member] | ||
Useful lives (Year) | 50 years | 50 years |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Useful lives (Year) | 3 years | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Useful lives (Year) | 10 years | 10 years |
Note 5 - Premises and Equipme81
Note 5 - Premises and Equipment - Future Minimum Rental Commitments (Details) | Dec. 31, 2017USD ($) |
2,018 | $ 363,791 |
2,019 | 355,727 |
2,020 | 259,798 |
2,021 | 159,708 |
2,022 | 91,969 |
Thereafter | 62,858 |
$ 1,293,851 |
Note 6 - Goodwill and Intangi82
Note 6 - Goodwill and Intangibles - Goodwill (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance at the beginning of period | $ 13,110,913 | $ 3,222,688 | |
Goodwill from acquisition of Guaranty Bank | 15,223,179 | 9,888,225 | |
Balance at the end of period | 28,334,092 | 13,110,913 | $ 3,222,688 |
Guaranty Bank [Member] | |||
Goodwill from acquisition of Guaranty Bank | 15,223,179 | ||
Community State Bank [Member] | |||
Goodwill from acquisition of Guaranty Bank | $ 9,888,225 |
Note 6 - Goodwill and Intangi83
Note 6 - Goodwill and Intangibles - Core Deposit Intangibles (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at the beginning of the period | $ 7,381,213 | $ 1,471,409 | |||
Amortization expense | (1,000,561) | (442,849) | $ (199,512) | ||
Balance at the end of the period | 9,078,953 | 7,381,213 | 1,471,409 | ||
Net book value | 9,078,953 | 7,381,213 | 1,471,409 | $ 9,078,953 | $ 7,381,213 |
Core Deposits [Member] | |||||
Balance at the beginning of the period | 7,381,213 | 1,471,410 | |||
Amortization expense | (1,000,561) | (442,850) | |||
Balance at the end of the period | 9,078,953 | 7,381,213 | 1,471,410 | ||
Gross carrying amount | 11,046,081 | 8,347,780 | |||
Accumulated amortization | (1,967,128) | (966,567) | |||
Net book value | 7,381,213 | 7,381,213 | $ 1,471,410 | $ 9,078,953 | $ 7,381,213 |
Core Deposits [Member] | Guaranty Bank [Member] | |||||
Core deposit intangible from acquisition | 2,698,301 | ||||
Core Deposits [Member] | Community State Bank [Member] | |||||
Core deposit intangible from acquisition | $ 6,352,653 |
Note 6 - Goodwill and Intangi84
Note 6 - Goodwill and Intangibles - Estimated Amortization Expense of Core Deposit Intangible (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Net book value | $ 9,078,953 | $ 7,381,213 | $ 1,471,409 |
Core Deposits [Member] | |||
2,018 | 1,218,202 | ||
2,019 | 1,196,331 | ||
2,020 | 1,169,934 | ||
2,021 | 1,139,012 | ||
2,022 | 1,103,565 | ||
Thereafter | 3,251,909 | ||
Net book value | $ 9,078,953 | $ 7,381,213 | $ 1,471,410 |
Note 7 - Derivatives and Hedg85
Note 7 - Derivatives and Hedging Activities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | $ 79,757 | $ 76,797 |
Interest Rate Cap [Member] | Cash Flow Hedging [Member] | ||
Payments for Hedge, Investing Activities | $ 2,100,000 | $ 2,100,000 |
Note 7 - Derivatives and Hedg86
Note 7 - Derivatives and Hedging Activities - Summary of Interest Rate Cap Derivatives (Details) - Cash Flow Hedging [Member] - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Interest Rate Cap [Member] | ||
National Amount | $ 30,000,000 | |
Fair value | 506,700 | $ 576,527 |
Other Assets [Member] | Interest Rate Cap 1 [Member] | ||
National Amount | 15,000,000 | |
Fair value | 190,085 | 179,939 |
Other Assets [Member] | Interest Rate Cap 2 [Member] | ||
National Amount | 15,000,000 | |
Fair value | $ 316,615 | $ 396,588 |
Note 7 - Derivatives and Hedg87
Note 7 - Derivatives and Hedging Activities - Changes in Fair Values of Derivative Financial Instruments (Details) - Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Unrealized loss at beginning of period, net of tax | $ (932,156) | $ (799,421) |
Amount of loss recognized in other comprehensive income, net of tax | (357,762) | (208,025) |
Unrealized loss at end of period, net of tax | (805,027) | (932,156) |
Hedge Ineffectiveness [Member] | Noninterest Income [Member] | ||
Amount reclassified from accumulated other comprehensive income | (76,797) | |
Hedge Ineffectiveness [Member] | Noninterest Expense [Member] | ||
Amount reclassified from accumulated other comprehensive income | 79,757 | |
Caplet Amortization [Member] | ||
Amount reclassified from accumulated other comprehensive income | $ 405,134 | $ 152,087 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Time Deposits, at or Above FDIC Insurance Limit | $ 364,329,340 | $ 300,852,485 | |
Federal Home Loan Bank of Des Moines [Member] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 35,000,000 | 40,000,000 | |
Letters of Credit Outstanding, Amount | 0 | $ 0 | |
Federal Home Loan Bank of Chicago [Member] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 10,100,000 | 7,000,000 | |
Letters of Credit Outstanding, Amount | $ 0 | $ 0 |
Note 8 - Deposits - Maturities
Note 8 - Deposits - Maturities of Certificates of Deposit (Details) | Dec. 31, 2017USD ($) |
2,018 | $ 478,334,220 |
2,019 | 86,231,955 |
2,020 | 18,143,039 |
2,021 | 8,223,919 |
2,022 | 5,071,695 |
Thereafter | 67,050 |
$ 596,071,878 |
Note 9 - Short-term Borrowing90
Note 9 - Short-term Borrowings - Short-term Borrowings (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Overnight repurchase agreements with customers | $ 7,003,122 | $ 8,131,387 |
Federal funds purchased | 6,990,000 | 31,840,000 |
$ 13,993,122 | $ 39,971,387 |
Note 9 - Short-term Borrowing91
Note 9 - Short-term Borrowings - Overnight Repurchase Agreement Collateralized Investment Securities (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities sold under repurchase agreements | $ 20,893,982 | $ 19,720,338 |
Less: overcollateralized position | 13,890,860 | 11,588,951 |
7,003,122 | 8,131,387 | |
US Government Agencies Debt Securities [Member] | ||
Securities sold under repurchase agreements | 2,077,702 | 630,077 |
Residential Mortgage Backed Securities [Member] | ||
Securities sold under repurchase agreements | $ 18,816,280 | $ 19,090,261 |
Note 9 - Short-term Borrowing92
Note 9 - Short-term Borrowings - Overnight Repurchase Agreements (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Repurchase Agreements with Customers [Member] | ||
Average daily balance during the period | $ 7,475,824 | $ 30,082,866 |
Average daily interest rate during the period | 0.08% | 0.07% |
Maximum month-end balance during the period | $ 11,829,201 | $ 59,833,229 |
Weighted average rate as of end of period | 0.15% | 0.02% |
Federal Funds Purchased [Member] | ||
Average daily balance during the period | $ 13,486,239 | $ 19,105,595 |
Average daily interest rate during the period | 1.31% | 0.56% |
Maximum month-end balance during the period | $ 33,650,000 | $ 51,750,000 |
Weighted average rate as of end of period | 1.24% | 0.70% |
Note 10 - FHLB Advances (Detail
Note 10 - FHLB Advances (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Advances from Federal Home Loan Banks Shortterm | $ 165,400,000 | $ 104,500,000 |
Federal Home Loan Bank Stock | $ 11,676,700 | $ 9,271,300 |
Minimum [Member] | ||
Federal Home Loan Bank, Advances, Maturity Period, Fixed Rate | 1 day | 1 day |
Minimum [Member] | Loans Receivable [Member] | ||
FHLB Collateral Maintenance Levels | 125.00% | |
Maximum [Member] | ||
Federal Home Loan Bank, Advances, Maturity Period, Fixed Rate | 30 days | 30 days |
Maximum [Member] | Loans Receivable [Member] | ||
FHLB Collateral Maintenance Levels | 333.00% | |
Collateral, Loans [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 850,115,910 | $ 669,513,037 |
Collateral, Securities [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 6,690,525 |
Note 10 - FHLB Advances - Matur
Note 10 - FHLB Advances - Maturity and Interest Rate Information on Advances from FHLB (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | |
2017, Amount due | $ 190,400,000 | ||
2017, Weighted average interest rate at year-end | 1.82% | ||
2020, Amount due | $ 1,600,000 | ||
2020, Weighted average interest rate at year-end | 1.75% | ||
Total FHLB advances, Amount due | $ 192,000,000 | ||
Total FHLB advances, Weighted average interest rate at year-end | 1.82% | ||
Federal Home Loan Bank, Advances, Putable Option [Member] | |||
2017, Amount due | [1] | $ 112,500,000 | |
2017, Weighted average interest rate at year-end | 0.78% | ||
2018, Amount due | [1] | $ 25,000,000 | |
2018, Weighted average interest rate at year-end | 3.35% | ||
2020, Amount due | |||
2020, Weighted average interest rate at year-end | |||
Total FHLB advances, Amount due | [1] | $ 137,500,000 | |
Total FHLB advances, Weighted average interest rate at year-end | 1.25% | ||
[1] | Of the advances outstanding, a portion have putable options which allow the FHLB, at its discretion, to terminate the advances and require the subsidiary banks to repay at predetermined dates prior to the stated maturity date of the advances. |
Note 10 - FHLB Advances - Summa
Note 10 - FHLB Advances - Summary of Prepayments of FHLB Advances (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Sep. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2016 | |
Amount | $ 15,000,000 | $ 5,000,000 | $ 10,000,000 | $ 30,000,000 |
Weighted Average Interest Rate | 3.14% | 2.84% | 3.86% | 3.33% |
Prepayment Fees | $ 357,161 | $ 127,310 | $ 524,197 | $ 1,008,668 |
Note 11 - Other Borrowings an96
Note 11 - Other Borrowings and Unused Lines of Credit (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Other Borrowings | $ 66,000,000 | $ 80,000,000 | |
Debt Instrument, Interest Rate, Effective Percentage | 3.82% | 3.26% | |
Debt Instrument, Face Amount | $ 40,210,000 | $ 35,570,000 | |
Revolving Credit Facility [Member] | |||
Other Borrowings | 5,000,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 4.06% | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | 10,000,000 | |
Long-term Line of Credit | $ 0 | ||
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||
Term Note 1 [Member] | |||
Other Borrowings | $ 24,000,000 | $ 30,000,000 | |
Debt Instrument, Interest Rate, Effective Percentage | 4.56% | 3.77% | |
Term Note 1 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | ||
Term Note 2 [Member] | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.56% | ||
Debt Instrument, Face Amount | $ 7,000,000 | ||
Term Note 2 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | ||
Term Note [Member] | |||
Other Borrowings | $ 31,000,000 | $ 30,000,000 | |
Debt Instrument, Periodic Payment, Principal | $ 1,937,500 |
Note 11 - Other Borrowings an97
Note 11 - Other Borrowings and Unused Lines of Credit - Other Borrowings (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Other borrowings | $ 66,000,000 | $ 80,000,000 |
Revolving Credit Facility [Member] | ||
Other borrowings | 5,000,000 | |
Whole sale Repurchase Agreements [Member] | ||
Other borrowings | 35,000,000 | 45,000,000 |
Term Note [Member] | ||
Other borrowings | $ 31,000,000 | $ 30,000,000 |
Note 11 - Other Borrowings an98
Note 11 - Other Borrowings and Unused Lines of Credit - Wholesale Structured Repurchase Agreement Collateralized Investment Securities (Details) - Whole sale Repurchase Agreements [Member] - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities sold under repurchase agreements | $ 65,002,722 | $ 52,119,731 |
Less: overcollateralized position | 30,002,722 | 7,119,731 |
35,000,000 | 45,000,000 | |
US Government Agencies Debt Securities [Member] | ||
Securities sold under repurchase agreements | 3,474,555 | 20,798,703 |
Residential Mortgage Backed Securities [Member] | ||
Securities sold under repurchase agreements | $ 61,528,167 | $ 31,321,028 |
Note 11 - Other Borrowings an99
Note 11 - Other Borrowings and Unused Lines of Credit - Summary of Prepayments of Wholesale Structured Repurchase Agreements (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amount | $ 69,769,000 | $ 34,559,000 | |||
Whole sale Repurchase Agreements [Member] | |||||
Amount | $ 55,000,000 | $ 10,000,000 | $ 65,000,000 | ||
Weighted Average Interest Rate | 3.27% | 3.97% | 3.38% | ||
Prepayment Fees | $ 4,010,000 | $ 759,000 | $ 4,769,000 |
Note 11 - Other Borrowings a100
Note 11 - Other Borrowings and Unused Lines of Credit - Wholesale Repurchase Agreements (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Other borrowings | $ 66,000,000 | $ 80,000,000 |
Whole sale Repurchase Agreements [Member] | ||
Other borrowings | $ 35,000,000 | $ 45,000,000 |
Weighted average interest rate at year end | 2.76% | 2.81% |
Whole sale Repurchase Agreements [Member] | Maturing in 2017 [Member] | ||
Other borrowings | $ 10,000,000 | |
Weighted average interest rate at year end | 3.00% | |
Whole sale Repurchase Agreements [Member] | Maturing in 2019 [Member] | ||
Other borrowings | $ 10,000,000 | $ 10,000,000 |
Weighted average interest rate at year end | 3.44% | 3.44% |
Whole sale Repurchase Agreements [Member] | Maturing in 2020 [Member] | ||
Other borrowings | $ 25,000,000 | $ 25,000,000 |
Weighted average interest rate at year end | 2.48% | 2.48% |
Note 11 - Other Borrowings a101
Note 11 - Other Borrowings and Unused Lines of Credit - Maturity Schedule of Term Note (Details) - Term Note [Member] | Dec. 31, 2017USD ($) |
2,018 | $ 7,750,000 |
2,019 | 7,750,000 |
2,020 | 7,750,000 |
2,021 | 7,750,000 |
$ 31,000,000 |
Note 11 - Other Borrowings a102
Note 11 - Other Borrowings and Unused Lines of Credit - Unused Lines of Credit (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Unused lines of credit | $ 374,967,441 | $ 381,409,192 |
Secured Debt [Member] | ||
Unused lines of credit | 2,967,441 | 34,409,192 |
Unsecured Debt [Member] | ||
Unused lines of credit | $ 372,000,000 | $ 347,000,000 |
Note 12 - Junior Subordinate103
Note 12 - Junior Subordinated Debentures (Details Textual) - USD ($) | Sep. 27, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 01, 2017 | Feb. 29, 2004 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ 3,857,275 | |||||
Debt Instrument, Face Amount | 40,210,000 | 35,570,000 | ||||
Gain (Loss) on Extinguishment of Debt | $ (4,577,668) | (7,185,601) | ||||
Debt Instrument, Interest Rate, Effective Percentage | 3.82% | 3.26% | ||||
Junior Subordinated Debt [Member] | ||||||
Debt Instrument, Term | 30 years | |||||
Note Payable to QCR Holdings Capital Trust II [Member] | ||||||
Debt Instrument, Face Amount | $ 12,372,000 | |||||
Note Payable to QCR Holdings Capital Trust II [Member] | Junior Subordinated Debt [Member] | ||||||
Extinguishment of Debt, Amount | 2,100,000 | |||||
Gain (Loss) on Extinguishment of Debt | $ 300,000 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 3.18% | |||||
Note Payable to QCR Holdings Capital Trust IV [Member] | Junior Subordinated Debt [Member] | ||||||
Extinguishment of Debt, Amount | $ 5,100,000 | |||||
Gain (Loss) on Extinguishment of Debt | $ 1,200,000 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 2.42% | |||||
Note Payable to QCR Holdings Capital Trust IV [Member] | Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.80% | 2.85% | ||||
Guaranty Bank and Trust Company [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ 3,857,275 | |||||
Debt Instrument, Face Amount | $ 7,000,000 | |||||
Debt Instrument, Term | 4 years |
Note 12 - Junior Subordinate104
Note 12 - Junior Subordinated Debentures - Junior Subordinated Debentures (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | |
Junior subordinated debentures | $ 37,486,487 | $ 33,480,202 | |
Junior subordinated debentures | [1] | (2,723,513) | (2,089,798) |
Note Payable to QCR Holdings Capital Trust II [Member] | |||
Junior subordinated debentures | 10,310,000 | 10,310,000 | |
Note Payable to Trust III [Member] | |||
Junior subordinated debentures | 8,248,000 | 8,248,000 | |
Note Payable to Trust V [Member] | |||
Junior subordinated debentures | 10,310,000 | 10,310,000 | |
Community National Trust II [Member] | |||
Junior subordinated debentures | 3,093,000 | 3,093,000 | |
Community National Trust III [Member] | |||
Junior subordinated debentures | 3,609,000 | 3,609,000 | |
Note Payable to Guaranty Bankshares Statutory Trust I [Member] | |||
Junior subordinated debentures | [2] | $ 4,640,000 | |
[1] | Discount on junior subordinated debt acquired in 2013 as part of the purchase of Community National and junior subordinated debt acquired in 2017 as part of the purchase of Guaranty Bank. | ||
[2] | As part of the acquisition of Guaranty Bank, the Company assumed one junior subordinated debenture with a fair value of $3,857,275. |
Note 12 - Junior Subordinate105
Note 12 - Junior Subordinated Debentures - Trust Preferred Securities (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Amount Outstanding | $ 40,210,000 | $ 35,570,000 | |
Interest Rate | 3.82% | 3.26% | |
Trust Preferred Securities [Member] | QCR Holdings Statuory Trust II [Member] | |||
Date issued | [1] | February 2,004 | |
Amount Outstanding | [1] | $ 10,310,000 | $ 10,310,000 |
Interest Rate | [1] | 4.54% | 3.85% |
Trust Preferred Securities [Member] | QCR Holdings Statuory Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate, Basis Spread | [1] | 2.85% | |
Trust Preferred Securities [Member] | QCR Holdings Statutory Trust III [Member] | |||
Date issued | February 2,004 | ||
Amount Outstanding | $ 8,248,000 | $ 8,248,000 | |
Interest Rate | 4.54% | 3.85% | |
Trust Preferred Securities [Member] | QCR Holdings Statutory Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate, Basis Spread | 2.85% | ||
Trust Preferred Securities [Member] | QCR Holdings Statutory Trust V [Member] | |||
Date issued | February 2,006 | ||
Amount Outstanding | $ 10,310,000 | $ 10,310,000 | |
Interest Rate | 2.91% | 2.43% | |
Trust Preferred Securities [Member] | QCR Holdings Statutory Trust V [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate, Basis Spread | 1.55% | ||
Trust Preferred Securities [Member] | Community National Statutory Trust II [Member] | |||
Date issued | September 2,004 | ||
Amount Outstanding | $ 3,093,000 | $ 3,093,000 | |
Interest Rate | 3.80% | 3.17% | |
Trust Preferred Securities [Member] | Community National Statutory Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate, Basis Spread | 2.17% | ||
Trust Preferred Securities [Member] | Community National Statutory Trust III [Member] | |||
Date issued | March 2,007 | ||
Amount Outstanding | $ 3,609,000 | $ 3,609,000 | |
Interest Rate | 3.32% | 2.71% | |
Trust Preferred Securities [Member] | Community National Statutory Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate, Basis Spread | 1.75% | ||
Trust Preferred Securities [Member] | Guaranty Bankshares Statutory Trust I [Member] | |||
Date issued | May 2,005 | ||
Amount Outstanding | $ 4,640,000 | ||
Interest Rate | 3.34% | ||
Trust Preferred Securities [Member] | Guaranty Bankshares Statutory Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate, Basis Spread | 1.75% | ||
[1] | Original amount issued for QCR Holdings Statutory Trust II was $12,372,000. |
Note 13 - Federal and State 106
Note 13 - Federal and State Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 1,143,000 | $ 1,143,000 | |||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 150,000 | $ 150,000 | $ 223,000 | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | (2,900,000) | $ (2,918,606) | |||
Scenario, Forecast [Member] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||
Domestic Tax Authority [Member] | |||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 4,600,000 | 4,600,000 | |||
State and Local Jurisdiction [Member] | |||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $ 2,100,000 | $ 2,100,000 |
Note 13 - Federal and State 107
Note 13 - Federal and State Income Taxes - Federal and State Income Tax Expense (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current | $ 10,976,005 | $ 11,969,194 | $ 5,673,774 | ||||||||
Deferred | (6,029,555) | (3,066,407) | (2,004,532) | ||||||||
$ (2,000,105) | $ 1,921,533 | $ 2,635,576 | $ 2,389,446 | $ 2,872,412 | $ 1,858,208 | $ 2,153,144 | $ 2,019,023 | $ 4,946,450 | $ 8,902,787 | $ 3,669,242 |
Note 13 - Federal and State 108
Note 13 - Federal and State Income Taxes - Reconciliation of the Expected Federal Income Tax Expense (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Computed "expected" tax expense | $ 14,228,535 | $ 12,806,351 | $ 7,208,993 | ||||||||
Effect of graduated tax rates | (250,013) | (76,973) | |||||||||
Tax exempt income, net | (5,653,979) | (4,343,270) | (3,461,438) | ||||||||
Bank-owned life insurance | 630,855 | 619,988 | 616,737 | ||||||||
State income taxes, net of federal benefit, current year | 1,764,671 | 1,245,524 | 767,557 | ||||||||
Change in unrecognized tax benefits | (53,699) | 121,008 | 223,668 | ||||||||
New Markets Tax Credits and other credits | (341,268) | (180,000) | (180,000) | ||||||||
Acquisition costs | 176,050 | ||||||||||
Excess tax benefit on stock options exercised and restricted stock awards vested | (1,219,483) | ||||||||||
Re-measurement of deferred tax asset to incorporate newly enacted tax rates | (2,918,606) | ||||||||||
Other | (228,866) | (52,875) | (195,828) | ||||||||
$ (2,000,105) | $ 1,921,533 | $ 2,635,576 | $ 2,389,446 | $ 2,872,412 | $ 1,858,208 | $ 2,153,144 | $ 2,019,023 | $ 4,946,450 | $ 8,902,787 | $ 3,669,242 | |
Computed "expected" tax expense, percentage | 35.00% | 35.00% | 35.00% | ||||||||
Effect of graduated tax rates, percentage | (0.70%) | (0.40%) | |||||||||
Tax exempt income, net, percentage | (13.90%) | (11.90%) | (16.80%) | ||||||||
Bank-owned life insurance, percentage | (1.50%) | (1.70%) | (3.00%) | ||||||||
State income taxes, net of federal benefit, current year, percentage | 4.30% | 3.40% | 3.70% | ||||||||
Change in unrecognized tax benefits, percentage | (0.10%) | 0.30% | 1.10% | ||||||||
New Markets Tax Credits and other credits, percentage | (0.80%) | (0.50%) | (0.90%) | ||||||||
Acquisition costs, percentage | 0.50% | ||||||||||
Excess tax benefit on stock options exercised and restricted stock awards vested, percentage | (3.00%) | ||||||||||
Re-measurement of deferred tax asset to incorporate newly enacted tax rates, percentage | (7.20%) | ||||||||||
Other, percentage | (0.60%) | (0.10%) | (0.90%) | ||||||||
Income Tax Expense (Benefit), Pprcentage | 12.20% | 24.30% | 17.80% |
Note 13 - Federal and State 109
Note 13 - Federal and State Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, beginning | $ 1,346,967 | $ 1,225,959 |
Impact of tax positions taken during current year | 333,253 | 319,047 |
Gross (decrease) related to tax positions of prior years | (40,584) | |
Gross increase related to tax positions of prior years | 17,789 | |
Reduction as a result of a lapse of the applicable statute of limitations | (346,368) | (215,828) |
Balance, ending | $ 1,293,268 | $ 1,346,967 |
Note 13 - Federal and State 110
Note 13 - Federal and State Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Alternative minimum tax credits | $ 6,513,502 | $ 6,513,502 |
New markets tax credits | 2,164,727 | 1,797,587 |
Net unrealized losses on securities available for sale and derivative instruments | 498,860 | 1,470,759 |
Compensation | 6,282,603 | 8,737,976 |
Loan/lease losses | 8,029,714 | 10,479,227 |
Net operating loss carryforwards, federal and state | 959,627 | 1,879,746 |
Other | 34,962 | 247,594 |
24,483,995 | 31,126,391 | |
Premises and equipment | 2,400,397 | 4,899,107 |
Equipment financing leases | 15,367,705 | 22,050,540 |
Acquisition fair value adjustments | 1,864,599 | 1,336,338 |
Investment accretion | 30,656 | 46,581 |
Deferred loan origination fees, net | 115,153 | 261,915 |
Other | 430,125 | 456,219 |
20,208,635 | 29,050,700 | |
Net deferred tax assets | $ 4,275,360 | $ 2,075,691 |
Note 13 - Federal and State 111
Note 13 - Federal and State Income Taxes - The Change in Deferred Income Taxes (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Provision for income taxes | $ (6,029,555) | $ (3,066,407) | $ (2,004,532) | |
Net deferred tax asset acquired | (3,310,553) | |||
Net deferred tax asset resulting from market value adjustments of acquisitions | 243,195 | 5,110,015 | ||
Re-measurement of deferred tax asset to incorporate newly enacted tax rates | $ 2,900,000 | 2,918,606 | ||
Statement of stockholders' equity- Other comprehensive income (loss) | 668,085 | (202,691) | (81,524) | |
$ (2,199,669) | $ (1,469,636) | $ (2,086,056) |
Note 14 - Employee Benefit P112
Note 14 - Employee Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.50% | |||
Defined Contribution Plan, Cost | $ 400,784 | $ 322,575 | $ 297,826 | |
Deferred Compensation Liability, Current and Noncurrent | 12,346,935 | 10,455,183 | 8,875,025 | $ 7,503,692 |
Deferred Compensation Arrangement with Individual, Contributions by Employer | 932,921 | 794,168 | 693,656 | |
Minimum [Member] | Certain Executive Officers [Member] | ||||
Deferred Compensation Arrangement with Individual, Contributions by Employer | $ 8,000 | |||
Interest on Deferred Compensation Amounts | 4.00% | |||
Maximum [Member] | Certain Executive Officers [Member] | ||||
Deferred Compensation Arrangement with Individual, Contributions by Employer | $ 25,000 | |||
Interest on Deferred Compensation Amounts | 12.00% | |||
Supplemental Executive Retirement Plans [Member] | ||||
Deferred Compensation Liability, Current and Noncurrent | $ 4,330,313 | 4,093,355 | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 163,826 | 163,825 | $ 163,824 | |
Certain Management Officers [Member]s [Member] | Minimum [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | |||
Interest on Deferred Compensation Amounts | 4.00% | |||
Certain Management Officers [Member]s [Member] | Maximum [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 10.00% | |||
Interest on Deferred Compensation Amounts | 8.00% | |||
Agreements with Certain Management and Executive Officers [Member] | ||||
Deferred Compensation Liability, Current and Noncurrent | $ 12,346,935 | $ 10,455,183 | ||
First 3% of Employees Wages [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 100.00% | |||
Match at 100% [Member] | ||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 3.00% | |||
From 4% to 4.5% of Employees Wages [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% | |||
Matched at 50% [Member] | ||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 3.00% |
Note 14 - Employee Benefit P113
Note 14 - Employee Benefit Plans - Profit Sharing Contributions (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Matching contribution | $ 1,663,198 | $ 1,365,111 | $ 1,314,276 |
$ 1,663,198 | $ 1,365,111 | $ 1,314,276 |
Note 14 - Employee Benefit P114
Note 14 - Employee Benefit Plans - Deferred Compensation Agreements (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 10,455,183 | $ 8,875,025 | $ 7,503,692 |
Employee deferrals | 932,921 | 794,168 | 693,656 |
Company match and interest | 1,024,933 | 848,831 | 726,001 |
Cash payments made | (66,102) | (62,841) | (48,324) |
Balance | $ 12,346,935 | $ 10,455,183 | $ 8,875,025 |
Note 15 - Stock-based Compen115
Note 15 - Stock-based Compensation (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 351,205 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Grant Date Fair Value | $ 925,735 | $ 632,255 | $ 598,341 |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 7 years | ||
The 2008 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | ||
2010 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 350,000 | ||
The 2013 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 350,000 | ||
The 2016 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 400,000 | ||
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 187,921 | ||
Maximum Amount per Employee per Offering Period for Employee Stock Purchase Plan | $ 10,000 | ||
Maximum Amount per Employee per Offering Period for Employee Stock Purchase Plan, Percent | 10.00% | 8.00% | 8.00% |
Note 15 - Stock-based Compen116
Note 15 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allocated Share-based Compensation Expense | $ 1,187,035 | $ 947,174 | $ 941,469 |
Employee Stock Option [Member] | |||
Allocated Share-based Compensation Expense | 554,435 | 424,904 | 393,114 |
Restricted Stock [Member] | |||
Allocated Share-based Compensation Expense | 552,907 | 460,853 | 492,410 |
Employee Stock Purchase Plan [Member] | |||
Allocated Share-based Compensation Expense | $ 79,694 | $ 61,417 | $ 55,945 |
Note 15 - Stock-based Compen117
Note 15 - Stock-based Compensation - Stock Option Plans (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding, shares (in shares) | 587,961 | 623,176 | 661,771 |
Outstanding, Weighted average exercise price (in dollars per share) | $ 14.83 | $ 13.88 | $ 13.89 |
Granted, shares (in shares) | 43,250 | 76,749 | 73,403 |
Granted, Weighted average exercise price (in dollars per share) | $ 43.86 | $ 22.92 | $ 17.63 |
Exercised, shares (in shares) | (114,100) | (111,423) | (79,638) |
Exercised, Weighted average exercise price (in dollars per share) | $ 15.12 | $ 14.97 | $ 14.70 |
Forfeited, shares (in shares) | (3,557) | (541) | (32,360) |
Forfeited, Weighted average exercise price (in dollars per share) | $ 26.74 | $ 18.36 | $ 20.69 |
Outstanding, shares (in shares) | 513,554 | 587,961 | 623,176 |
Outstanding, Weighted average exercise price (in dollars per share) | $ 17.13 | $ 14.83 | $ 13.88 |
Exercisable, , shares (in shares) | 354,269 | 385,372 | 405,832 |
Weighted-average grant date fair value (in dollars per share) | $ 14.75 | $ 7.31 | $ 5.11 |
Note 15 - Stock-based Compen118
Note 15 - Stock-based Compensation - Options Outstanding (Details) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Number outstanding (in shares) | shares | 513,554 |
Number exercisable (in shares) | shares | 354,269 |
Range 1 [Member] | |
Exercise price range, lower range (in dollars per share) | $ 7.99 |
Exercise price range, upper range (in dollars per share) | $ 8.93 |
Number outstanding (in shares) | shares | 27,850 |
Weighted average remaining contractual life (Year) | 3 years 21 days |
Weighted average exercise price options outstanding (in dollars per share) | $ 8.09 |
Number exercisable (in shares) | shares | 27,850 |
Weighted average exercise price options exercisable (in dollars per share) | $ 8.09 |
Range 2 [Member] | |
Exercise price range, lower range (in dollars per share) | 9 |
Exercise price range, upper range (in dollars per share) | $ 9.30 |
Number outstanding (in shares) | shares | 148,755 |
Weighted average remaining contractual life (Year) | 2 years 281 days |
Weighted average exercise price options outstanding (in dollars per share) | $ 9.22 |
Number exercisable (in shares) | shares | 147,955 |
Weighted average exercise price options exercisable (in dollars per share) | $ 9.22 |
Range 3 [Member] | |
Exercise price range, lower range (in dollars per share) | 15 |
Exercise price range, upper range (in dollars per share) | $ 16.85 |
Number outstanding (in shares) | shares | 90,668 |
Weighted average remaining contractual life (Year) | 4 years 215 days |
Weighted average exercise price options outstanding (in dollars per share) | $ 15.63 |
Number exercisable (in shares) | shares | 79,369 |
Weighted average exercise price options exercisable (in dollars per share) | $ 15.64 |
Range 4 [Member] | |
Exercise price range, lower range (in dollars per share) | 17.10 |
Exercise price range, upper range (in dollars per share) | $ 18 |
Number outstanding (in shares) | shares | 132,816 |
Weighted average remaining contractual life (Year) | 6 years 208 days |
Weighted average exercise price options outstanding (in dollars per share) | $ 17.31 |
Number exercisable (in shares) | shares | 81,521 |
Weighted average exercise price options exercisable (in dollars per share) | $ 17.26 |
Range 5 [Member] | |
Exercise price range, lower range (in dollars per share) | 21.71 |
Exercise price range, upper range (in dollars per share) | $ 31.53 |
Number outstanding (in shares) | shares | 70,215 |
Weighted average remaining contractual life (Year) | 8 years 29 days |
Weighted average exercise price options outstanding (in dollars per share) | $ 22.63 |
Number exercisable (in shares) | shares | 16,273 |
Weighted average exercise price options exercisable (in dollars per share) | $ 22.64 |
Range 6 [Member] | |
Exercise price range, upper range (in dollars per share) | $ 48.50 |
Number outstanding (in shares) | shares | 43,250 |
Weighted average remaining contractual life (Year) | 9 years 73 days |
Weighted average exercise price options outstanding (in dollars per share) | $ 43.86 |
Number exercisable (in shares) | shares | 1,301 |
Weighted average exercise price options exercisable (in dollars per share) | $ 42.75 |
Note 15 - Stock-based Compen119
Note 15 - Stock-based Compensation - Restricted Stock Awards (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding, beginning (in shares) | 39,438 | 45,046 | 49,833 |
Granted (in shares) | 28,289 | 22,382 | 28,846 |
Released (in shares) | (21,338) | (27,490) | (33,633) |
Forfeited (in shares) | (500) | ||
Outstanding, ending (in shares) | 46,389 | 39,438 | 45,046 |
Weighted average fair value per share granted (in dollars per share) | $ 44.44 | $ 22.64 | $ 17.80 |
Note 15 - Stock-based Compen120
Note 15 - Stock-based Compensation - Stock Purchase Plan (Details) - Employee Stock Purchase Plan [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Shares granted (in shares) | 12,414 | 18,711 | 23,408 |
Issuance of shares of common stock as a result of stock purchased under the Employee Stock Purchase Plan (in shares) | 13,318 | 20,192 | 24,033 |
Weighted average fair value per share granted (in dollars per share) | $ 6.42 | $ 3.28 | $ 2.39 |
Note 16 - Regulatory Capital121
Note 16 - Regulatory Capital Requirements and Restrictions on Dividends (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2016 | Oct. 27, 2016 | |
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% | ||
Shelf Registration Maximum Value of Equity Authorized For Issuance | $ 100 | ||
Proceeds From Issuance of Common Stock Gross | $ 30.1 |
Note 16 - Regulatory Capital122
Note 16 - Regulatory Capital Requirements and Restrictions on Dividends - Capital Requirements (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | |
Total risk-based capital, actual, amount | $ 383,282 | $ 327,440 | |
Total risk-based capital, actual, ratio | 11.15% | 11.56% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | $ 275,090 | $ 226,587 | |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | 8.00% | 8.00% | |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 318,073 | $ 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 | $ 343,862 | $ 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 | $ 348,530 | $ 296,366 | |
Tier 1 risk-based capital, actual, ratio | 10.14% | 10.46% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | $ 206,317 | $ 169,940 | |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | 6.00% | 6.00% | |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 249,300 | $ 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 | $ 275,090 | $ 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 | $ 348,530 | $ 296,366 | |
Tier 1 leverage, actual, ratio | 8.98% | 9.10% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | $ 155,256 | $ 130,229 | |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | 4.00% | 4.00% | |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 155,256 | $ 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 | $ 194,070 | $ 162,787 | |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 313,012 | $ 266,419 | |
Common equity Tier 1, actual ratio | 9.10% | 9.41% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | $ 154,738 | $ 127,455 | |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | 4.50% | 4.50% | |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 197,721 | $ 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 | $ 223,510 | $ 184,102 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Quad City Bank and Trust Company [Member] | |||
Total risk-based capital, actual, amount | $ 160,112 | $ 142,990 | |
Total risk-based capital, actual, ratio | 12.35% | 12.27% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | $ 103,711 | $ 93,212 | |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | 8.00% | 8.00% | |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 119,916 | $ 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 | $ 129,639 | $ 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 | $ 147,472 | $ 129,524 | |
Tier 1 risk-based capital, actual, ratio | 11.38% | 11.12% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | $ 77,783 | $ 69,909 | |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | 6.00% | 6.00% | |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 93,988 | $ 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 | $ 103,711 | $ 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 | $ 147,472 | $ 129,524 | |
Tier 1 leverage, actual, ratio | 9.52% | 9.18% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | $ 61,985 | $ 56,445 | |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | 4.00% | 4.00% | |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 61,985 | $ 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 | $ 77,481 | $ 70,556 | |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 147,472 | $ 129,524 | |
Common equity Tier 1, actual ratio | 11.38% | 11.12% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | $ 58,337 | $ 52,432 | |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | 4.50% | 4.50% | |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 74,542 | $ 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 | $ 84,265 | $ 75,735 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Cedar Rapids Bank and Trust [Member] | |||
Total risk-based capital, actual, amount | $ 138,492 | $ 106,791 | |
Total risk-based capital, actual, ratio | 11.88% | 12.82% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | $ 93,272 | $ 66,623 | |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | 8.00% | 8.00% | |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 107,846 | $ 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 | $ 116,590 | $ 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 | $ 126,601 | $ 96,369 | |
Tier 1 risk-based capital, actual, ratio | 10.86% | 11.57% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | $ 69,954 | $ 49,968 | |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | 6.00% | 6.00% | |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 84,528 | $ 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 | $ 93,272 | $ 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 | $ 126,601 | $ 96,369 | |
Tier 1 leverage, actual, ratio | 11.68% | 10.69% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | $ 43,348 | $ 36,061 | |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | 4.00% | 4.00% | |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 43,348 | $ 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 | $ 54,185 | $ 45,076 | |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 126,601 | $ 96,369 | |
Common equity Tier 1, actual ratio | 10.86% | 11.57% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | $ 52,465 | $ 37,476 | |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | 4.50% | 4.50% | |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 67,039 | $ 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 | $ 75,783 | $ 54,132 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Community State Bank [Member] | |||
Total risk-based capital, actual, amount | $ 66,271 | $ 68,216 | |
Total risk-based capital, actual, ratio | 11.71% | 13.81% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | $ 45,293 | $ 39,521 | |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | 8.00% | 8.00% | |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 52,370 | $ 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 | $ 56,616 | $ 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 | $ 61,941 | $ 66,746 | |
Tier 1 risk-based capital, actual, ratio | 10.94% | 13.51% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | $ 33,970 | $ 29,641 | |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | 6.00% | 6.00% | |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 41,047 | $ 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 | $ 45,293 | $ 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 | $ 61,941 | $ 66,746 | |
Tier 1 leverage, actual, ratio | 9.77% | 11.75% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | $ 25,354 | $ 22,726 | |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | 4.00% | 4.00% | |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 25,354 | $ 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 | $ 31,693 | $ 28,408 | |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 61,941 | $ 66,746 | |
Common equity Tier 1, actual ratio | 10.94% | 13.51% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | $ 25,477 | $ 22,231 | |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | 4.50% | 4.50% | |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 32,554 | $ 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 | $ 36,801 | $ 32,111 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
Rockford Bank and Trust [Member] | |||
Total risk-based capital, actual, amount | $ 45,684 | $ 42,007 | |
Total risk-based capital, actual, ratio | 11.28% | 12.26% | |
Total risk-based capital for capital adquacy purposes, amount, without capital conservation buffer | $ 32,413 | $ 27,410 | |
Total risk-based capital for capital adquacy purposes, ratio, without capital conservation buffer | 8.00% | 8.00% | |
Total risk-based capital for capital adquacy purposes, amount | [1] | $ 37,477 | $ 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 | $ 40,516 | $ 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 | $ 40,615 | $ 37,716 | |
Tier 1 risk-based capital, actual, ratio | 10.02% | 11.01% | |
Tier 1 risk-based capital for capital adequacy purposes, amount, without capital conservation buffer | $ 24,310 | $ 20,558 | |
Tier 1 risk-based capital for capital adequacy purposes, ratio, without capital conservation buffer | 6.00% | 6.00% | |
Tier 1 risk-based capital for capital adequacy purposes, amount | [1] | $ 29,374 | $ 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 | $ 32,413 | $ 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 | $ 40,615 | $ 37,716 | |
Tier 1 leverage, actual, ratio | 8.94% | 9.57% | |
Tier 1 leverage for capital adequacy purposes, amount, without capital conservation buffer | $ 18,177 | $ 15,772 | |
Tier 1 leverage for capital adequacy purposes, ratio, without capital conservation buffer | 4.00% | 4.00% | |
Tier 1 leverage for capital adequacy purposes, amount | [1] | $ 18,177 | $ 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 | $ 22,721 | $ 19,716 | |
Tier 1 leverage to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% | |
Common equity Tier 1, actual, amount | $ 40,615 | $ 37,716 | |
Common equity Tier 1, actual ratio | 10.02% | 11.01% | |
Common equity Tier 1 for capital adequacy purposes, amount, without capital conservation buffer | $ 18,232 | $ 15,418 | |
Common equity Tier 1 for capital adequacy purposes, ratio, without capital conservation buffer | 4.50% | 4.50% | |
Common equity Tier 1 for capital adequacy purposes, amount | [1] | $ 23,297 | $ 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 | $ 26,335 | $ 22,270 | |
Common equity Tier 1 to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% | |
[1] | The minimums under Basel III phase in higher by .625% (the capital conservation buffer) for all ratios other than Tier 1 leverage 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 17 - Earnings Per Share (D
Note 17 - Earnings Per Share (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 49,919 | 17,739 | 36,572 |
Note 17 - Earnings Per Share -
Note 17 - Earnings Per Share - Basic and Diluted (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Net income | $ 9,901,590 | $ 7,853,935 | $ 8,766,017 | $ 9,184,965 | $ 8,529,330 | $ 6,107,501 | $ 6,676,467 | $ 6,373,489 | $ 35,706,507 | $ 27,686,787 | $ 16,927,881 | |
Basic earnings per common share (in dollars per share) | $ 0.72 | $ 0.60 | $ 0.67 | $ 0.70 | $ 0.65 | $ 0.47 | $ 0.54 | $ 0.54 | $ 2.68 | $ 2.20 | $ 1.64 | |
Diluted earnings per common share (in dollars per share) | $ 0.70 | $ 0.58 | $ 0.65 | $ 0.68 | $ 0.64 | $ 0.46 | $ 0.53 | $ 0.53 | $ 2.61 | $ 2.17 | $ 1.61 | |
Weighted average common shares outstanding (in shares) | [1] | 13,325,128 | 12,570,767 | 10,345,286 | ||||||||
Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan** (in shares) | [2] | 355,344 | 195,236 | 154,555 | ||||||||
Weighted average common and common equivalent shares outstanding (in shares) | 13,680,472 | 12,766,003 | 10,499,841 | |||||||||
[1] | The increase in weighted average common shares outstanding from 2015 to 2016 was primarily due to the common stock issuance that occurred in conjunction with the CSB acquisition. | |||||||||||
[2] | Excludes anti-dilutive shares of 49,919, 17,739, and 36,572 at December 31,2017, 2016 and 2015, respectively. |
Note 18 - Commitments and Co125
Note 18 - Commitments and Contingencies (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | $ 645,001 | $ 1,135,500 |
Loans Sold with Recourse Provisions | 300,000 | 916,900 |
Cash, Uninsured Amount | 42,900,000 | 48,500,000 |
Money Market Funds, at Carrying Value | 136,032,073 | 117,985,224 |
Standby Letters of Credit [Member] | ||
Other Commitment | 17,283,025 | 15,697,469 |
Commitments to Extend Credit [Member] | ||
Other Commitment | $ 791,550,060 | $ 666,778,085 |
Note 19 - Quarterly Results 126
Note 19 - Quarterly Results of Operations (Unaudited) - Quarterly Results of Operations (Unaudited) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Total interest income | $ 37,878,086 | $ 33,840,865 | $ 32,453,268 | $ 31,345,099 | $ 32,235,657 | $ 26,816,735 | $ 23,913,284 | $ 23,502,059 | |||
Total interest expense | 6,084,733 | 5,284,517 | 4,406,571 | 3,676,216 | 2,955,992 | 3,185,958 | 2,904,471 | 2,904,537 | $ 19,452,037 | $ 11,950,958 | $ 13,706,529 |
Net interest income | 31,793,353 | 28,556,348 | 28,046,697 | 27,668,883 | 29,279,665 | 23,630,777 | 21,008,813 | 20,597,522 | 116,065,281 | 94,516,777 | 76,296,724 |
Provision for loan/lease losses | 2,255,381 | 2,086,436 | 2,022,993 | 2,105,109 | 2,599,345 | 1,607,986 | 1,197,850 | 2,072,985 | 8,469,919 | 7,478,166 | 6,870,900 |
Noninterest income | 9,714,717 | 6,701,303 | 6,782,518 | 7,283,754 | 7,028,600 | 10,423,401 | 6,762,401 | 6,822,473 | 30,482,292 | 31,036,875 | 24,363,321 |
Noninterest expense | 31,351,204 | 23,395,747 | 21,404,629 | 21,273,117 | 22,307,178 | 24,480,483 | 17,743,753 | 16,954,498 | 97,424,697 | 81,485,912 | 73,192,022 |
Income before taxes | 7,901,485 | 9,775,468 | 11,401,593 | 11,574,411 | 11,401,742 | 7,965,709 | 8,829,611 | 8,392,512 | 40,652,957 | 36,589,574 | 20,597,123 |
Income Tax Expense (Benefit) | (2,000,105) | 1,921,533 | 2,635,576 | 2,389,446 | 2,872,412 | 1,858,208 | 2,153,144 | 2,019,023 | 4,946,450 | 8,902,787 | 3,669,242 |
Net income (loss) | $ 9,901,590 | $ 7,853,935 | $ 8,766,017 | $ 9,184,965 | $ 8,529,330 | $ 6,107,501 | $ 6,676,467 | $ 6,373,489 | $ 35,706,507 | $ 27,686,787 | $ 16,927,881 |
Basic (in dollars per share) | $ 0.72 | $ 0.60 | $ 0.67 | $ 0.70 | $ 0.65 | $ 0.47 | $ 0.54 | $ 0.54 | $ 2.68 | $ 2.20 | $ 1.64 |
Diluted (in dollars per share) | $ 0.70 | $ 0.58 | $ 0.65 | $ 0.68 | $ 0.64 | $ 0.46 | $ 0.53 | $ 0.53 | $ 2.61 | $ 2.17 | $ 1.61 |
Note 20 - Parent Company Onl127
Note 20 - Parent Company Only Financial Statements - Condensed Balance Sheets (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Cash and due from banks | $ 75,721,663 | $ 70,569,993 | ||
Interest-bearing deposits at financial institutions | 55,765,012 | 63,948,925 | ||
Securities available for sale, at fair value | 272,907,907 | 251,113,139 | ||
Loans/leases receivable, held for investment | 2,963,840,399 | 2,404,351,485 | ||
Premises and equipment, net | 62,838,255 | 60,643,508 | ||
Other assets | 45,817,687 | 37,503,284 | ||
Total assets | 3,982,664,773 | 3,301,943,748 | $ 2,593,198,275 | |
Other borrowings | 66,000,000 | 80,000,000 | ||
Other liabilities | 53,242,979 | 55,690,087 | ||
Total liabilities | 3,629,377,644 | 3,015,902,949 | ||
Common stock | 13,918,168 | 13,106,845 | ||
Additional paid-in capital | 189,077,550 | 156,776,642 | ||
Retained earnings | 151,962,661 | 118,616,901 | ||
Total stockholders' equity | 353,287,129 | 286,040,799 | $ 225,885,750 | $ 144,078,509 |
Total liabilities and stockholders' equity | 3,982,664,773 | 3,301,943,748 | ||
Parent Company [Member] | ||||
Cash and due from banks | 4,325,582 | 6,929,755 | ||
Interest-bearing deposits at financial institutions | 601 | 651 | ||
Securities available for sale, at fair value | 1,690,726 | 1,545,565 | ||
Loans/leases receivable, held for investment | 1,710,000 | |||
Premises and equipment, net | 4,947,572 | 5,104,677 | ||
Other assets | 11,630,304 | 15,245,521 | ||
Total assets | 437,366,647 | 375,847,099 | ||
Other borrowings | 31,000,000 | 35,000,000 | ||
Junior subordinated debentures | 37,486,487 | 33,480,202 | ||
Other liabilities | 15,593,031 | 21,326,098 | ||
Total liabilities | 84,079,518 | 89,806,300 | ||
Common stock | 13,918,168 | 13,106,845 | ||
Additional paid-in capital | 189,077,550 | 156,776,642 | ||
Retained earnings | 151,962,661 | 118,616,901 | ||
Accumulated other comprehensive loss | (1,671,250) | (2,459,589) | ||
Total stockholders' equity | 353,287,129 | 286,040,799 | ||
Total liabilities and stockholders' equity | 437,366,647 | 375,847,099 | ||
Parent Company [Member] | Bank Subsidiaries [Member] | ||||
Investment in bank subsidiaries | 410,105,525 | 345,866,288 | ||
Parent Company [Member] | Non-bank Subsidiaries [Member] | ||||
Investment in bank subsidiaries | $ 2,956,337 | $ 1,154,642 |
Note 20 - Parent Company Onl128
Note 20 - Parent Company Only Financial Statements - Condensed Statements of Income (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Total interest income | $ 37,878,086 | $ 33,840,865 | $ 32,453,268 | $ 31,345,099 | $ 32,235,657 | $ 26,816,735 | $ 23,913,284 | $ 23,502,059 | |||
Securities gains | $ (87,885) | $ 4,592,398 | $ 798,983 | ||||||||
Total revenue | 165,999,610 | 137,502,624 | 114,366,574 | ||||||||
Total interest expense | 6,084,733 | 5,284,517 | 4,406,571 | 3,676,216 | 2,955,992 | 3,185,958 | 2,904,471 | 2,904,537 | 19,452,037 | 11,950,958 | 13,706,529 |
Salaries and employee benefits | 55,722,288 | 46,317,060 | 42,967,915 | ||||||||
Business Combination, Acquisition Related Costs | 1,068,918 | 1,400,004 | |||||||||
Post-acquisition compensation, transition and integration costs | 4,309,565 | 1,041,169 | |||||||||
Losses on debt extinguishment, net | 4,577,668 | 7,185,601 | |||||||||
Income tax benefit | 2,000,105 | (1,921,533) | (2,635,576) | (2,389,446) | (2,872,412) | (1,858,208) | (2,153,144) | (2,019,023) | (4,946,450) | (8,902,787) | (3,669,242) |
Net income (loss) | $ 9,901,590 | $ 7,853,935 | $ 8,766,017 | $ 9,184,965 | $ 8,529,330 | $ 6,107,501 | $ 6,676,467 | $ 6,373,489 | 35,706,507 | 27,686,787 | 16,927,881 |
Parent Company [Member] | |||||||||||
Total interest income | 12,802 | 74,489 | 69,774 | ||||||||
Securities gains | 6,312 | 37,596 | 262,801 | ||||||||
Other | 2,700 | (2,933) | (4,436) | ||||||||
Total revenue | 45,200,751 | 33,609,538 | 22,420,047 | ||||||||
Total interest expense | 2,658,414 | 1,735,769 | 1,679,909 | ||||||||
Salaries and employee benefits | 5,021,998 | 4,607,887 | 4,847,507 | ||||||||
Professional fees | 1,344,721 | 949,442 | 1,121,094 | ||||||||
Business Combination, Acquisition Related Costs | 1,068,918 | 1,400,004 | |||||||||
Post-acquisition compensation, transition and integration costs | 3,151,384 | 313,598 | |||||||||
Losses on debt extinguishment, net | (1,200,000) | (300,000) | |||||||||
Other | 1,134,139 | 988,057 | 949,041 | ||||||||
Total expenses | 14,379,574 | 8,794,757 | 8,297,551 | ||||||||
Income before income tax benefit | 30,821,177 | 24,814,781 | 14,122,496 | ||||||||
Income tax benefit | 4,885,330 | 2,872,006 | 2,805,385 | ||||||||
Net income (loss) | 35,706,507 | 27,686,787 | 16,927,881 | ||||||||
Parent Company [Member] | Bank Subsidiaries [Member] | |||||||||||
Equity in net income of bank subsidiaries | 45,103,593 | 33,467,712 | 22,059,086 | ||||||||
Parent Company [Member] | Non-bank Subsidiaries [Member] | |||||||||||
Equity in net income of bank subsidiaries | $ 75,344 | $ 32,674 | $ 32,823 |
Note 20 - Parent Company Onl129
Note 20 - Parent Company Only Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income (loss) | $ 9,901,590 | $ 7,853,935 | $ 8,766,017 | $ 9,184,965 | $ 8,529,330 | $ 6,107,501 | $ 6,676,467 | $ 6,373,489 | $ 35,706,507 | $ 27,686,787 | $ 16,927,881 |
Stock-based compensation expense | 1,187,036 | 947,174 | 941,469 | ||||||||
Securities gains, net | 87,885 | (4,592,398) | (798,983) | ||||||||
Net decrease (increase) in interest-bearing deposits at financial institutions | 12,137,820 | (12,904,803) | (979,283) | ||||||||
Calls, maturities and redemptions | 43,010,478 | 117,876,284 | 211,942,737 | ||||||||
Sales | 71,091,580 | 134,188,737 | 81,410,368 | ||||||||
Purchase of premises and equipment | (5,760,802) | (6,032,416) | (4,394,255) | ||||||||
Net cash (used in) provided by investing activities | (410,516,757) | (168,975,229) | (66,073,152) | ||||||||
Proceeds from other borrowings | 7,000,000 | 35,000,000 | |||||||||
Calls, maturities and scheduled principal payments | (21,000,000) | (7,350,000) | |||||||||
Prepayments | (69,769,000) | (34,559,000) | |||||||||
Retirement of junior subordinated debentures | (3,955,000) | (1,762,000) | |||||||||
Net proceeds from the common stock offering | $ 29,800,000 | ||||||||||
Net cash provided by financing activities | 381,955,146 | 154,420,080 | 39,481,832 | ||||||||
Net increase (decrease) in cash and due from banks | 5,151,670 | 28,827,672 | 3,507,302 | ||||||||
Cash and due from banks, beginning | 70,569,993 | 41,742,321 | 70,569,993 | 41,742,321 | 38,235,019 | ||||||
Cash and due from banks, ending | 75,721,663 | 70,569,993 | 75,721,663 | 70,569,993 | 41,742,321 | ||||||
Common Stock Offering 1 [Member] | |||||||||||
Net proceeds from the common stock offering | 29,828,916 | 63,484,123 | |||||||||
Common Stock Offering 2 [Member] | |||||||||||
Net proceeds from the common stock offering | 2,055,507 | 2,105,774 | 1,552,673 | ||||||||
Parent Company [Member] | |||||||||||
Net income (loss) | 35,706,507 | 27,686,787 | 16,927,881 | ||||||||
Accretion of acquisition fair value adjustments | 149,010 | 136,150 | 137,317 | ||||||||
Depreciation | 225,947 | 222,256 | 174,757 | ||||||||
Stock-based compensation expense | 1,187,036 | 947,174 | 941,469 | ||||||||
Securities gains, net | (6,312) | (37,596) | (262,801) | ||||||||
Gains on debt extinguishment | (1,200,000) | (300,000) | |||||||||
Decrease (increase) in other assets | (968,808) | (2,346,253) | (5,929,110) | ||||||||
(Decrease) increase in other liabilities | (6,918,921) | 5,105,251 | 5,502,390 | ||||||||
Net cash provided by operating activities | 5,234,256 | 23,046,243 | 4,832,689 | ||||||||
Net decrease (increase) in interest-bearing deposits at financial institutions | 50 | 50 | 189,426 | ||||||||
Purchases | (3,873,060) | (1,764,137) | |||||||||
Calls, maturities and redemptions | 6,312 | 3,800,000 | 1,772,719 | ||||||||
Sales | 31,713 | 132,738 | 489,828 | ||||||||
Capital infusion, bank subsidiaries | (45,600,000) | ||||||||||
Net cash paid for acquisitions | (3,368,909) | (80,000,000) | |||||||||
Purchase of premises and equipment | (68,842) | (824,498) | (1,517,157) | ||||||||
Net cash (used in) provided by investing activities | (3,399,676) | (80,764,770) | (46,429,321) | ||||||||
Proceeds from other borrowings | 7,000,000 | 35,000,000 | |||||||||
Calls, maturities and scheduled principal payments | (11,000,000) | (2,350,000) | |||||||||
Prepayments | (19,395,116) | ||||||||||
Retirement of junior subordinated debentures | (3,955,000) | (1,762,000) | |||||||||
Payment of cash dividends on common and preferred stock | (2,494,260) | (1,981,541) | (782,054) | ||||||||
Net proceeds from the common stock offering | 2,055,507 | 2,105,774 | 1,552,673 | ||||||||
Net cash provided by financing activities | (4,438,753) | 60,998,149 | 40,747,626 | ||||||||
Net increase (decrease) in cash and due from banks | (2,604,173) | 3,279,622 | (849,006) | ||||||||
Cash and due from banks, beginning | $ 6,929,755 | $ 3,650,133 | 6,929,755 | 3,650,133 | 4,499,139 | ||||||
Cash and due from banks, ending | $ 4,325,582 | $ 6,929,755 | 4,325,582 | 6,929,755 | 3,650,133 | ||||||
Parent Company [Member] | Common Stock Offering 1 [Member] | |||||||||||
Net proceeds from the common stock offering | 63,484,123 | ||||||||||
Parent Company [Member] | Common Stock Offering 2 [Member] | |||||||||||
Net proceeds from the common stock offering | 29,828,916 | ||||||||||
Parent Company [Member] | Bank Subsidiaries [Member] | |||||||||||
Earnings of bank subsidiaries | (45,103,593) | (33,467,712) | (22,059,086) | ||||||||
Distributions from bank subsidiaries | 21,000,000 | 26,000,000 | 9,700,000 | ||||||||
Parent Company [Member] | Non-bank Subsidiaries [Member] | |||||||||||
Earnings of bank subsidiaries | (75,344) | (32,674) | (32,823) | ||||||||
Distributions from bank subsidiaries | $ 38,734 | $ 32,860 | $ 32,695 |
Note 20 - Parent Company Onl130
Note 20 - Parent Company Only Financial Statements - Condensed Statements of Cash Flows (Details) (Parentheticals) - shares | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Proceeds from issuance of common stock, net of issuance costs, shares (in shares) | 1,215,000 | ||
Common Stock Offering 1 [Member] | Parent Company [Member] | |||
Proceeds from issuance of common stock, net of issuance costs, shares (in shares) | 3,680,000 | ||
Common Stock Offering 2 [Member] | Parent Company [Member] | |||
Proceeds from issuance of common stock, net of issuance costs, shares (in shares) | 1,215,000 |
Note 21 - Fair Value - Assets M
Note 21 - Fair Value - Assets Measured At Fair Value On a Recurring and Nonrecurring Basis (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available for sale, fair value | $ 272,907,907 | $ 251,113,139 |
Impaired loans/leases | 23,615,310 | 18,788,073 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans/leases | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans/leases | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans/leases | 23,615,310 | 18,788,073 |
Fair Value, Measurements, Recurring [Member] | ||
Assets Fair Value | 277,811,845 | 254,027,947 |
Liabilities Fair Value | 4,397,238 | 2,338,281 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 506,700 | 576,527 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 4,397,238 | 2,338,281 |
Derivative Liabilites | 4,397,238 | 2,338,281 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets Fair Value | 1,028 | 1,361 |
Liabilities Fair Value | ||
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 | ||
Derivative Liabilites | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets Fair Value | 277,810,817 | 254,026,586 |
Liabilities Fair Value | 4,397,238 | 2,338,281 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 506,700 | 576,527 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 4,397,238 | 2,338,281 |
Derivative Liabilites | 4,397,238 | 2,338,281 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value | ||
Liabilities 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 | ||
Derivative Liabilites | ||
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, fair value | 38,096,534 | 46,083,607 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 38,096,534 | 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 | 38,096,534 | 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 | 163,301,304 | 147,702,127 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 163,301,304 | 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 | 163,301,304 | 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 | 66,625,496 | 52,604,426 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 66,625,496 | 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 | 66,625,496 | 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 | 4,884,573 | 4,722,979 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, fair value | 4,884,573 | 4,722,979 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, fair value | 1,028 | 1,361 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, fair value | 4,883,545 | 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/leases | 8,972,337 | 12,823,121 |
Impaired Loans Leases [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans/leases | ||
Impaired Loans Leases [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans/leases | ||
Impaired Loans Leases [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans/leases | 8,972,337 | 12,823,121 |
Other Real Estate Owned [Member] | ||
Impaired loans/leases | 14,642,973 | 5,964,952 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans/leases | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans/leases | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans/leases | $ 14,642,973 | $ 5,964,952 |
Note 21 - Fair Value - Quantita
Note 21 - Fair Value - Quantitative Information About Level Fair Value Measurements (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair value | $ 23,615,310 | $ 18,788,073 |
Impaired Loans Leases [Member] | ||
Fair value | $ 8,972,337 | 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 | $ 14,642,973 | $ 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 21 - Fair Value - Carrying
Note 21 - Fair Value - Carrying Values and Estimated Fair Values of Financial Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities held to maturity, fair value | $ 379,749,804 | $ 320,414,899 |
Securities available for sale, fair value | 272,907,907 | 251,113,139 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and due from banks | 75,721,663 | 70,569,993 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 75,721,663 | 70,569,993 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Federal funds sold | 30,197,000 | 22,257,000 |
Securities held to maturity, fair value | 379,474,205 | 322,909,056 |
Securities available for sale, fair value | 272,907,907 | 251,113,139 |
Loans/leases receivable, net | 2,921,821,953 | 2,362,856,277 |
Short-term borrowings | 13,993,122 | 39,971,387 |
FHLB advances | 192,000,000 | 137,500,000 |
Other borrowings | 66,000,000 | 80,000,000 |
Junior subordinated debentures | 37,486,487 | 33,480,202 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Non-maturity Deposits [Member] | ||
Deposits | 2,670,583,178 | 2,188,683,349 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 596,071,878 | 480,577,924 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 506,700 | 576,527 |
Interest rate swaps - assets | 506,700 | 576,527 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 4,397,238 | 2,338,281 |
Interest rate swaps - assets | 4,397,238 | 2,338,281 |
Interest rate swaps - liabilities | 4,397,238 | 2,338,281 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Interest-bearing Deposits [Member] | ||
Interest-bearing deposits at financial institutions | 55,765,012 | 63,948,925 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Federal funds sold | 30,197,000 | 22,257,000 |
Securities held to maturity, fair value | 379,749,804 | 320,414,899 |
Securities available for sale, fair value | 272,907,907 | 251,113,139 |
Loans/leases receivable, net | 2,892,963,000 | 2,344,462,740 |
Short-term borrowings | 13,993,122 | 39,971,387 |
FHLB advances | 192,115,000 | 138,338,000 |
Other borrowings | 66,520,000 | 81,282,000 |
Junior subordinated debentures | 29,253,624 | 24,881,494 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Non-maturity Deposits [Member] | ||
Deposits | 2,670,583,178 | 2,188,683,349 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 591,772,000 | 479,605,000 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Cap [Member] | ||
Interest rate caps | 506,700 | 576,527 |
Interest rate swaps - assets | 506,700 | 576,527 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest rate caps | 4,397,238 | 2,338,281 |
Interest rate swaps - assets | 4,397,238 | 2,338,281 |
Interest rate swaps - liabilities | 4,397,238 | 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 | 55,765,012 | 63,948,925 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Loans/leases receivable, net | 8,307,719 | 11,873,260 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans/leases receivable, net | $ 8,972,337 | $ 12,823,121 |
Note 22 - Business Segment I134
Note 22 - Business Segment Information (Details Textual) | Dec. 31, 2017 |
Number of Subsidiaries | 4 |
Note 22 - Business Segment I135
Note 22 - Business Segment Information - Selected Financial Information on the Company's Business Segments (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Total revenue | $ 165,999,610 | $ 137,502,624 | $ 114,366,574 | |||||||||
Net interest income | $ 31,793,353 | $ 28,556,348 | $ 28,046,697 | $ 27,668,883 | $ 29,279,665 | $ 23,630,777 | $ 21,008,813 | $ 20,597,522 | 116,065,281 | 94,516,777 | 76,296,724 | |
Provision for loan/lease losses | 2,255,381 | 2,086,436 | 2,022,993 | 2,105,109 | 2,599,345 | 1,607,986 | 1,197,850 | 2,072,985 | 8,469,919 | 7,478,166 | 6,870,900 | |
Net income (loss) | 9,901,590 | $ 7,853,935 | $ 8,766,017 | $ 9,184,965 | 8,529,330 | $ 6,107,501 | $ 6,676,467 | $ 6,373,489 | 35,706,507 | 27,686,787 | 16,927,881 | |
Goodwill | 28,334,092 | 13,110,913 | 28,334,092 | 13,110,913 | 3,222,688 | |||||||
Core deposit intangible | 9,078,953 | 7,381,213 | 9,078,953 | 7,381,213 | 1,471,409 | |||||||
Total assets | 3,982,664,773 | 3,301,943,748 | 3,982,664,773 | 3,301,943,748 | 2,593,198,275 | |||||||
Net income (loss) | 16,927,881 | |||||||||||
Operating Segments [Member] | Commercial Banking Segment [Member] | Quad City Bank and Trust Company [Member] | ||||||||||||
Total revenue | 58,055,715 | 59,442,052 | 52,914,705 | |||||||||
Net interest income | 46,407,078 | 45,081,080 | 40,416,563 | |||||||||
Provision for loan/lease losses | 3,908,919 | 4,168,166 | 4,367,234 | |||||||||
Net income (loss) | 22,095,055 | 14,116,751 | ||||||||||
Goodwill | 3,222,688 | 3,222,688 | 3,222,688 | 3,222,688 | 3,222,688 | |||||||
Core deposit intangible | ||||||||||||
Total assets | 1,541,777,558 | 1,395,785,241 | 1,541,777,558 | 1,395,785,241 | 1,336,571,694 | |||||||
Net income (loss) | 10,333,111 | |||||||||||
Operating Segments [Member] | Commercial Banking Segment [Member] | Cedar Rapids Bank and Trust [Member] | ||||||||||||
Total revenue | 45,367,035 | 37,242,901 | 37,593,652 | |||||||||
Net interest income | 31,042,302 | 29,205,047 | 26,635,659 | |||||||||
Provision for loan/lease losses | 1,050,000 | 950,000 | 1,750,000 | |||||||||
Net income (loss) | 10,712,174 | 12,317,545 | ||||||||||
Goodwill | 15,223,179 | 15,223,179 | ||||||||||
Core deposit intangible | 3,693,592 | 1,271,897 | 3,693,592 | 1,271,897 | 1,471,409 | |||||||
Total assets | 1,307,376,687 | 913,055,738 | 1,307,376,687 | 913,055,738 | 866,872,406 | |||||||
Net income (loss) | 7,695,867 | |||||||||||
Operating Segments [Member] | Commercial Banking Segment [Member] | Guaranty Bank and Trust Company [Member] | ||||||||||||
Total revenue | [1] | 1,806,078 | ||||||||||
Net interest income | [1] | 1,551,356 | ||||||||||
Provision for loan/lease losses | [1] | |||||||||||
Net income (loss) | [1] | 346,835 | ||||||||||
Goodwill | [1] | |||||||||||
Core deposit intangible | [1] | |||||||||||
Total assets | [1] | |||||||||||
Net income (loss) | [1] | |||||||||||
Operating Segments [Member] | Commercial Banking Segment [Member] | Community State Bank [Member] | ||||||||||||
Total revenue | 31,944,152 | 11,406,291 | ||||||||||
Net interest income | 27,020,674 | 10,004,729 | ||||||||||
Provision for loan/lease losses | 2,783,000 | 1,460,000 | ||||||||||
Net income (loss) | 7,047,671 | 2,132,252 | ||||||||||
Goodwill | 9,888,225 | 9,888,225 | 9,888,225 | 9,888,225 | ||||||||
Core deposit intangible | 5,385,361 | 6,109,316 | 5,385,361 | 6,109,316 | ||||||||
Total assets | 670,516,373 | 600,075,798 | 670,516,373 | 600,075,798 | ||||||||
Net income (loss) | ||||||||||||
Operating Segments [Member] | Commercial Banking Segment [Member] | Rockford Bank and Trust [Member] | ||||||||||||
Total revenue | 18,035,971 | 16,043,894 | 14,816,300 | |||||||||
Net interest income | 12,707,651 | 11,887,201 | 10,854,637 | |||||||||
Provision for loan/lease losses | 728,000 | 900,000 | 753,666 | |||||||||
Net income (loss) | 2,660,364 | 3,235,711 | ||||||||||
Goodwill | ||||||||||||
Core deposit intangible | ||||||||||||
Total assets | 461,650,765 | 391,154,780 | 461,650,765 | 391,154,780 | 367,471,639 | |||||||
Net income (loss) | 2,402,522 | |||||||||||
Operating Segments [Member] | Wealth Management Segment [Member] | ||||||||||||
Total revenue | 11,057,519 | 9,156,948 | 9,103,173 | |||||||||
Net interest income | ||||||||||||
Provision for loan/lease losses | ||||||||||||
Net income (loss) | 2,241,494 | 1,665,453 | ||||||||||
Goodwill | ||||||||||||
Core deposit intangible | ||||||||||||
Total assets | ||||||||||||
Net income (loss) | 1,627,586 | |||||||||||
Operating Segments [Member] | Other Segments [Member] | ||||||||||||
Total revenue | 232,660 | 109,563 | 363,432 | |||||||||
Net interest income | (2,663,780) | (1,661,280) | (1,610,135) | |||||||||
Provision for loan/lease losses | ||||||||||||
Net income (loss) | (9,397,086) | (5,780,925) | ||||||||||
Goodwill | ||||||||||||
Core deposit intangible | ||||||||||||
Total assets | 28,267,478 | 34,998,902 | 28,267,478 | 34,998,902 | 27,605,704 | |||||||
Net income (loss) | (5,131,205) | |||||||||||
Intersegment Eliminations [Member] | ||||||||||||
Total revenue | (499,520) | 4,100,975 | (424,688) | |||||||||
Net interest income | ||||||||||||
Provision for loan/lease losses | ||||||||||||
Net income (loss) | ||||||||||||
Goodwill | ||||||||||||
Core deposit intangible | ||||||||||||
Total assets | $ (26,924,088) | $ (33,126,711) | $ (26,924,088) | $ (33,126,711) | (5,323,168) | |||||||
Net income (loss) | ||||||||||||
[1] | Represents financial results for Guaranty Bank for the period from October 1, 2017 through December 2, 2017, when Guaranty Bank was merged into CRBT. |