Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 08, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | NORTHWEST INDIANA BANCORP | |
Entity Central Index Key | 919,864 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | NWIN | |
Entity Common Stock, Shares Outstanding | 2,867,911 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and non-interest bearing deposits in other financial institutions | $ 9,800 | $ 10,529 |
Interest bearing deposits in other financial institutions | 10,361 | 139 |
Federal funds sold | 254 | 357 |
Total cash and cash equivalents | 20,415 | 11,025 |
Certificates of deposit in other financial institutions | 1,526 | 1,676 |
Securities available-for-sale | 241,471 | 244,490 |
Loans held-for-sale | 1,908 | 1,592 |
Loans receivable | 624,662 | 620,211 |
Less: allowance for loan losses | (7,097) | (7,482) |
Net loans receivable | 617,565 | 612,729 |
Federal Home Loan Bank stock | 3,000 | 3,000 |
Accrued interest receivable | 3,052 | 3,262 |
Premises and equipment | 19,436 | 19,559 |
Foreclosed real estate | 1,432 | 1,699 |
Cash value of bank owned life insurance | 19,462 | 19,355 |
Goodwill | 2,792 | 2,792 |
Other assets | 6,449 | 6,080 |
Total assets | 938,508 | 927,259 |
Deposits: | ||
Non-interest bearing | 126,582 | 120,556 |
Interest bearing | 668,791 | 672,448 |
Total | 795,373 | 793,004 |
Repurchase agreements | 13,396 | 11,300 |
Borrowed funds | 30,360 | 20,881 |
Accrued expenses and other liabilities | 9,571 | 10,014 |
Total liabilities | 848,700 | 835,199 |
Stockholders' Equity: | ||
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding | 0 | 0 |
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued: March 31, 2018 - 2,924,978 December 31, 2017 - 2,920,545 shares outstanding: March 31, 2018 - 2,868,940 December 31, 2017 - 2,864,507 | 361 | 361 |
Additional paid-in capital | 4,558 | 4,506 |
Accumulated other comprehensive income/(loss) | (3,348) | 684 |
Retained earnings | 88,237 | 86,509 |
Total stockholders' equity | 89,808 | 92,060 |
Total liabilities and stockholders' equity | $ 938,508 | $ 927,259 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Mar. 31, 2018 | Dec. 31, 2017 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 2,924,978 | 2,920,545 |
Common stock, shares outstanding | 2,868,940 | 2,864,507 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Loans receivable | ||
Real estate loans | $ 5,917 | $ 5,421 |
Commercial loans | 1,072 | 1,013 |
Consumer loans | 5 | 5 |
Total loan interest | 6,994 | 6,439 |
Securities | 1,722 | 1,617 |
Other interest earning assets | 17 | 22 |
Total interest income | 8,733 | 8,078 |
Interest expense: | ||
Deposits | 675 | 459 |
Repurchase agreements | 32 | 21 |
Borrowed funds | 191 | 83 |
Total interest expense | 898 | 563 |
Net interest income | 7,835 | 7,515 |
Provision for loan losses | 341 | 234 |
Net interest income after provision for loan losses | 7,494 | 7,281 |
Noninterest income: | ||
Fees and service charges | 892 | 740 |
Gain on sale of securities, net | 758 | 293 |
Wealth management operations | 415 | 410 |
Gain on sale of loans held-for-sale, net | 211 | 200 |
Increase in cash value of bank owned life insurance | 108 | 115 |
Gain on sale of foreclosed real estate, net | 32 | 0 |
Other | 33 | 27 |
Total noninterest income | 2,449 | 1,785 |
Noninterest expense: | ||
Compensation and benefits | 3,860 | 3,613 |
Occupancy and equipment | 853 | 882 |
Data processing | 361 | 368 |
Marketing | 134 | 135 |
Federal deposit insurance premiums | 84 | 77 |
Other | 1,675 | 1,225 |
Total noninterest expense | 6,967 | 6,300 |
Income before income tax expenses | 2,976 | 2,766 |
Income tax expenses | 415 | 468 |
Net income | $ 2,561 | $ 2,298 |
Earnings per common share: | ||
Basic | $ 0.89 | $ 0.8 |
Diluted | 0.89 | 0.8 |
Dividends declared per common share | $ 0.29 | $ 0.28 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net income | $ 2,561 | $ 2,298 |
Net change in net unrealized gains and losses on securities available-for-sale: | ||
Unrealized gains (losses) arising during the period | (4,350) | 1,468 |
Less: reclassification adjustment for gains included in net income | (758) | (293) |
Net securities gain (loss) during the period | (5,108) | 1,175 |
Tax effect | 1,076 | (399) |
Net of tax amount | (4,032) | 776 |
Net change in unrealized gain on postretirement benefit: | ||
Other comprehensive income (loss), net of tax | (4,032) | 776 |
Comprehensive income (loss), net of tax | $ (1,471) | $ 3,074 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity $ in Thousands | USD ($) |
Balance at beginning of period at Dec. 31, 2016 | $ 84,108 |
Comprehensive income: | |
Net income | 2,298 |
Net unrealized gains (losses) on securities available-for-sale, net of reclassifications and tax effects | 776 |
Comprehensive income, net of tax | 3,074 |
Stock based compensation expense | 47 |
Cash dividends | (802) |
Balance at end of period at Mar. 31, 2017 | 86,427 |
Balance at beginning of period at Dec. 31, 2017 | 92,060 |
Comprehensive income: | |
Net income | 2,561 |
Net unrealized gains (losses) on securities available-for-sale, net of reclassifications and tax effects | (4,032) |
Comprehensive income, net of tax | (1,471) |
Stock based compensation expense | 52 |
Cash dividends | (833) |
Balance at end of period at Mar. 31, 2018 | $ 89,808 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 2,561 | $ 2,298 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
Origination of loans for sale | (8,250) | (6,332) |
Sale of loans originated for sale | 8,145 | 7,876 |
Depreciation and amortization, net of accretion | 650 | 620 |
Amortization of mortgage servicing rights | 16 | 13 |
Stock based compensation expense | 52 | 47 |
Gain on sale of securities, net | (758) | (293) |
Gain on sale of loans held-for-sale, net | (211) | (200) |
Gain on sale of foreclosed real estate, net | (32) | 0 |
Provision for loan losses | 341 | 234 |
Net change in: | ||
Interest receivable | 210 | 191 |
Other assets | 690 | 587 |
Accrued expenses and other liabilities | (443) | (1,383) |
Total adjustments | 410 | 1,360 |
Net cash - operating activities | 2,971 | 3,658 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of certificates of deposits in other financial institutions | 150 | 0 |
Proceeds from maturities and pay downs of securities available-for-sale | 5,313 | 6,700 |
Proceeds from sales of securities available-for-sale | 14,668 | 17,964 |
Purchase of securities available-for-sale | (21,604) | (27,117) |
Net change in loans receivable | (5,430) | (13,504) |
Purchase of premises and equipment, net | (235) | (732) |
Proceeds from sale of foreclosed real estate, net | 552 | 0 |
Change in cash value of bank owned life insurance | (108) | (115) |
Net cash - investing activities | (6,694) | (16,804) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | 2,369 | (9,142) |
Proceeds from FHLB advances | 32,000 | 0 |
Repayment of FHLB advances | (19,000) | (4,000) |
Change in other borrowed funds | (1,425) | (2,237) |
Dividends paid | (831) | (800) |
Net cash - financing activities | 13,113 | (16,179) |
Net change in cash and cash equivalents | 9,390 | (29,325) |
Cash and cash equivalents at beginning of period | 11,025 | 45,109 |
Cash and cash equivalents at end of period | 20,415 | 15,784 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 873 | 567 |
Income taxes | 0 | 0 |
Noncash activities: | ||
Transfers from loans to foreclosed real estate | $ 253 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting [Text Block] | Note 1 - Basis of Presentation The consolidated financial statements include the accounts of NorthWest Indiana Bancorp (the “Bancorp”), its wholly-owned subsidiaries NWIN Risk Management, Inc. (a captive insurance subsidiary) and Peoples Bank SB (the “Bank”), and the Bank’s wholly-owned subsidiaries, Peoples Service Corporation, NWIN, LLC, NWIN Funding, Incorporated, and Columbia Development Company, LLC. The Bancorp’s business activities include being a holding company for the Bank as well as a holding company for NWIN Risk Management, Inc. The Bancorp’s earnings are primarily dependent upon the earnings of the Bank. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures required by U.S. generally accepted accounting principles for complete presentation of consolidated financial statements. In the opinion of management, the consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets of the Bancorp as of March 31, 2018 and December 31, 2017, and the consolidated statements of income, comprehensive income (loss), changes in stockholders’ equity and consolidated statements of cash flows for the three months ended March 31, 2018 and 2017. The income reported for the three month period ended March 31, 2018 is not necessarily indicative of the results to be expected for the full year. |
Use of Estimates
Use of Estimates | 3 Months Ended |
Mar. 31, 2018 | |
Use of Estimates [Abstract] | |
Use of Estimates [Text Block] | Note 2 - Use of Estimates Preparing financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period, as well as the disclosures provided. Actual results could differ from those estimates. Estimates associated with the allowance for loan losses, fair values of foreclosed real estate, loan servicing rights, investment securities, deferred tax assets, goodwill, and the status of contingencies are particularly susceptible to material change in the near term. |
Acquisition Activity
Acquisition Activity | 3 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note 3 - Acquisition Activity On February 20, 2018, the Bancorp entered into an Agreement and Plan of Merger (the “Merger Agreement”) with First Personal Financial Corp., a Delaware corporation (“First Personal”). Pursuant to the Merger Agreement, First Personal will merge with and into the Bancorp, with the Bancorp as the surviving corporation (the “Merger”). At the time of the Merger, First Personal Bank, an Illinois state chartered commercial bank and wholly-owned subsidiary of First Personal (“First Personal Bank”), will merge with and into Peoples Bank SB, the wholly-owned Indiana state chartered savings bank subsidiary of the Bancorp (“Peoples Bank”), with Peoples Bank as the surviving bank. The boards of directors of the Bancorp and First Personal have approved the Merger and the Merger Agreement. Subject to the approval of the Merger by First Personal’s stockholders, regulatory approvals, and other customary closing conditions, the parties anticipate completing the Merger in the third quarter of 2018. Upon completion of the Merger, each First Personal stockholder will have the right to receive fixed consideration of (i) 0.1246 shares of Bancorp common stock, and (ii) $6.67 per share in cash for each share of First Personal’s common stock. Stockholders holding less than 100 shares of First Personal common stock will have the right to receive $12.12 in cash and no stock consideration for each share of First Personal common stock. 42.80 15.60 Subject to certain terms and conditions, the board of directors of First Personal has agreed to recommend the approval and adoption of the Merger Agreement to First Personal’s stockholders and will solicit proxies to vote in favor of the Merger from First Personal’s stockholders. The Merger Agreement also provides for certain termination rights for both the Bancorp and First Personal, and further provides that upon termination of the Merger Agreement under certain circumstances, First Personal will be obligated to pay the Bancorp a termination fee. First Personal Bank has a home office and two branch offices in Cook County, Illinois. As of December 31, 2017, First Personal Bank reported total assets of $ 145.8 99.9 130.1 1.1 742.3 945.9 |
Securities
Securities | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 - Securities (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value March 31, 2018 Money market fund $ 924 $ - $ - $ 924 U.S. government sponsored entities 5,997 3 (162) 5,838 Collateralized mortgage obligations and residential mortgage-backed securities 142,412 36 (3,279) 139,169 Municipal securities 91,552 1,307 (774) 92,085 Collateralized debt obligations 4,823 - (1,368) 3,455 Total securities available-for-sale $ 245,708 $ 1,346 $ (5,583) $ 241,471 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2017 Money market fund $ 476 $ - $ - $ 476 U.S. government sponsored entities 3,996 - (106) 3,890 Collateralized mortgage obligations and residential mortgage-backed securities 134,224 170 (1,456) 132,938 Municipal securities 100,088 3,709 (50) 103,747 Collateralized debt obligations 4,835 - (1,396) 3,439 Total securities available-for-sale $ 243,619 $ 3,879 $ (3,008) $ 244,490 (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent March 31, 2018 Value Yield (%) Due in one year or less $ 1,595 6.54 Due from one to five years 4,787 4.36 Due from five to ten years 24,533 4.88 Due over ten years 71,387 4.77 Collateralized mortgage obligations and residential mortgage-backed securities 139,169 2.70 Total $ 241,471 3.59 (Dollars in thousands) March 31, March 31, 2018 2017 Proceeds $ 14,668 $ 17,964 Gross gains 758 334 Gross losses - (41) (Dollars in thousands) Unrealized Ending balance, December 31, 2017 $ 684 Current period change (4,032) Ending balance, March 31, 2018 $ (3,348) Securities with carrying values of approximately $ 17.3 21.2 (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses March 31, 2018 U.S. government sponsored entities $ - $ - $ 3,835 $ (162) $ 3,835 $ (162) Collateralized mortgage obligations and residential mortgage-backed securities 96,178 (1,735) 35,217 (1,544) 131,395 (3,279) Municipal securities 26,877 (639) 1,726 (135) 28,603 (774) Collateralized debt obligations - - 3,455 (1,368) 3,455 (1,368) Total temporarily impaired $ 123,055 $ (2,374) $ 44,233 $ (3,209) $ 167,288 $ (5,583) Number of securities 99 37 136 (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2017 U.S. government sponsored entities $ - $ - $ 3,890 $ (106) $ 3,890 $ (106) Collateralized mortgage obligations and residential mortgage-backed securities 66,917 (511) 37,003 (945) 103,920 (1,456) Municipal securities 1,790 (3) 1,815 (47) 3,605 (50) Collateralized debt obligations - - 3,439 (1,396) 3,439 (1,396) Total temporarily impaired $ 68,707 $ (514) $ 46,147 $ (2,494) $ 114,854 $ (3,008) Number of securities 40 37 77 Unrealized losses on securities have not been recognized into income because the securities are of high credit quality or have undisrupted cash flows. Management has the intent and ability to hold those securities for the foreseeable future, and the decline in fair value is largely due to changes in interest rates and volatility in securities markets. The fair values are expected to recover as the securities approach maturity. |
Loans Receivable
Loans Receivable | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5 - Loans Receivable (Dollars in thousands) March 31, 2018 December 31, 2017 Loans secured by real estate: Residential real estate $ 174,053 $ 172,780 Home equity 36,606 36,718 Commercial real estate 208,482 211,090 Construction and land development 53,775 50,746 Farmland 248 - Multifamily 44,612 43,369 Total loans secured by real estate 517,776 514,703 Consumer 489 460 Commercial business 76,546 77,122 Government 30,176 28,785 Subtotal 624,987 621,070 Less: Net deferred loan origination fees (124) (130) Undisbursed loan funds (201) (729) Loans receivable $ 624,662 $ 620,211 (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended March 31, 2018: Allowance for loan losses: Residential real estate $ 1,568 $ (68) - $ (7) $ 1,493 Home equity 166 (19) - 12 159 Commercial real estate 3,125 (119) - (10) 2,996 Construction and land development 618 - - 43 661 Multifamily 622 - - (7) 615 Farmland - - - 4 4 Consumer 31 (8) 4 8 35 Commercial business 1,298 (526) 10 295 1,077 Government 54 - - 3 57 Total $ 7,482 $ (740) $ 14 $ 341 $ 7,097 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended March 31, 2017: Allowance for loan losses: Residential real estate $ 2,111 $ (858) $ - $ 42 $ 1,295 Home equity 299 - - 7 306 Commercial real estate 3,113 - - 85 3,198 Construction and land development 617 - - (24) 593 Multifamily 572 - - (11) 561 Farmland - - - - - Consumer 34 (5) 2 (3) 28 Commercial business 896 (245) 8 136 795 Government 56 - - 2 58 Total $ 7,698 $ (1,108) $ 10 $ 234 $ 6,834 The Bancorp's impairment analysis is summarized below: Ending Balances (Dollars in thousands) Individually Collectively Loan receivables Individually Purchased credit Collectively The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at March 31, 2018: Residential real estate $ 31 $ 1,462 $ 173,866 $ 561 $ 712 $ 172,593 Home equity - 159 36,658 69 - 36,589 Commercial real estate 18 2,978 208,482 363 - 208,119 Construction and land development - 661 53,775 134 - 53,641 Multifamily - 615 44,612 - - 44,612 Farmland - 4 248 - - 248 Commercial business 10 1,067 76,354 193 - 76,161 Consumer - 35 491 - - 491 Government - 57 30,176 - - 30,176 Total $ 59 $ 7,038 $ 624,662 $ 1,320 $ 712 $ 622,630 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2017: Residential real estate $ 21 $ 1,547 $ 172,141 $ 462 $ 690 $ 170,989 Home equity - 166 36,769 - - 36,769 Commercial real estate 144 2,981 211,090 512 - 210,578 Construction and land development - 618 50,746 134 - 50,612 Multifamily. - 622 43,368 - - 43,368 Farmland - - - - - - Commercial business 539 759 76,851 724 - 76,127 Consumer - 31 461 - - 461 Government - 54 28,785 - - 28,785 Total $ 704 $ 6,778 $ 620,211 $ 1,832 $ 690 $ 617,689 Credit Exposure - Credit Risk Portfolio By Creditworthiness Category March 31, 2018 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average Acceptable Marginally Pass/monitor Special Substandard Total Residential real estate $ 614 $ 14,951 $ 92,844 $ 8,649 $ 48,937 $ 4,186 $ 3,685 $ 173,866 Home equity 67 906 34,929 - 173 271 312 36,658 Commercial real estate - 2,127 76,593 81,047 42,746 5,606 363 208,482 Construction and land development - - 23,208 21,159 9,274 - 134 53,775 Multifamily - - 19,887 22,882 1,610 233 - 44,612 Farmland - - 248 - - - - 248 Commercial business 7,986 17,545 14,153 22,060 12,275 2,142 193 76,354 Consumer 118 3 361 - - - 9 491 Government - 2,220 21,976 5,980 - - - 30,176 Total $ 8,785 $ 37,752 $ 284,199 $ 161,777 $ 115,015 $ 12,438 $ 4,696 $ 624,662 December 31, 2017 2 3 4 5 6 7 8 Loan Segment Moderate Above average Acceptable Marginally Pass/monitor Special Substandard Total Residential real estate $ 887 $ 12,317 $ 92,241 $ 8,759 $ 50,075 $ 4,130 $ 3,732 $ 172,141 Home equity - 1,065 34,871 - 250 233 350 36,769 Commercial real estate - 2,372 79,847 81,547 40,054 6,758 512 211,090 Construction and land development - - 20,719 19,583 10,310 - 134 50,746 Multifamily - - 20,159 20,965 2,076 168 - 43,368 Farmland - - - - - - - - Commercial business 7,169 17,202 16,784 21,087 13,041 394 1,174 76,851 Consumer - 131 330 - - - - 461 Government - 2,318 20,202 6,265 - - - 28,785 Total $ 8,056 $ 35,405 $ 285,153 $ 158,206 $ 115,806 $ 11,683 $ 5,902 $ 620,211 The Bancorp has established a standard loan grading system to assist management, lenders and review personnel in their analysis and supervision of the loan portfolio. The use and application of these grades by the Bancorp is uniform and conforms to regulatory definitions. The loan grading system is as follows: 1 Minimal Risk Borrower demonstrates exceptional credit fundamentals, including stable and predictable profit margins, strong liquidity and a conservative balance sheet with superior asset quality. Excellent cash flow coverage of existing and projected debt service. Historic and projected performance indicates borrower is able to meet obligations under almost any economic circumstances. 2 Moderate risk Borrower consistently internally generates sufficient cash flow to fund debt service, working assets, and some capital expenditures. Risk of default considered low. 3 Above average acceptable risk Borrower generates sufficient cash flow to fund debt service and some working assets and/or capital expansion needs. Profitability and key balance sheet ratios are at or slightly above peers. Current trends are positive or stable. Earnings may be level or trending down slightly or be erratic; however, positive strengths are offsetting. Risk of default is reasonable but may warrant collateral protection. 4 Acceptable risk Borrower generates sufficient cash flow to fund debt service, but most working asset and all capital expansion needs are provided from external sources. Profitability ratios and key balance sheet ratios are usually close to peers but one or more ratios (e.g. leverage) may be higher than peer. Earnings may be trending down over the last three years. Borrower may be able to obtain similar financing from other banks with comparable or less favorable terms. Risk of default is acceptable but requires collateral protection. 5 Marginally acceptable risk Borrower may exhibit excessive growth, declining earnings, strained cash flow, increasing leverage and/or weakening market position that indicate above average risk. Limited additional debt capacity, modest coverage, and average or below average asset quality, margins and market share. Interim losses and/or adverse trends may occur, but not to the level that would affect the Bank’s position. The potential for default is higher than normal but considered marginally acceptable based on prospects for improving financial performance and the strength of the collateral. 6 Pass/monitor The borrower has significant weaknesses resulting from performance trends or management concerns. The financial condition of the company has taken a negative turn and may be temporarily strained. Cash flow may be weak but cash reserves remain adequate to meet debt service. Management weaknesses are evident. Borrowers in this category will warrant more than the normal level of supervision and more frequent reporting. 7 Special mention (watch) Special mention credits are considered bankable assets with no apparent loss of principal or interest envisioned but requiring a high level of management attention. Assets in this category are currently protected but are potentially weak. These borrowers are subject to economic, industry, or management factors having an adverse impact upon their prospects for orderly service of debt. The perceived risk in continued lending is considered to have increased beyond the level where such loans would normally be granted. These assets constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of Substandard. 8 Substandard This classification consists of loans which are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. Financial statements normally reveal some or all of the following: poor trends, lack of earnings and cash flow, excessive debt, lack of liquidity, and the absence of creditor protection. Loans are still considered collectible, but due to increased risks and defined weaknesses of the credit, some loss could be incurred in collection if the deficiencies are not corrected. Performing loans are loans that are paying as agreed and are approximately less than ninety days past due on payments of interest and principal. During the first quarter of 2018, two residential real estate loans totaling $ 115 69 For the three months ended As of March 31, 2018 March 31, 2018 (Dollars in thousands) Recorded Unpaid Principal Related Allowance Average Recorded Interest Income With no related allowance recorded: Residential real estate $ 1,141 $ 2,871 $ - $ 1,103 $ 6 Home equity 69 69 - 35 Commercial real estate 250 250 - 252 - Construction and land development 134 134 - 134 - Commercial business 183 183 - 184 1 With an allowance recorded: Residential real estate 132 132 31 106 5 Home equity - - - - - Commercial real estate 113 113 18 186 4 Construction and land development - - - - - Commercial business 10 10 10 275 - Total: Residential real estate $ 1,273 $ 3,003 $ 31 $ 1,209 $ 11 Home equity $ 69 $ 69 $ - $ 35 $ - Commercial real estate $ 363 $ 364 $ 18 $ 438 $ 4 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 193 $ 193 $ 10 $ 459 $ 1 For the three months ended As of December 31, 2017 March 31, 2017 (Dollars in thousands) Recorded Unpaid Principal Related Allowance Average Recorded Interest Income With no related allowance recorded: Residential real estate $ 1,072 $ 3,351 $ - $ 1,350 $ 11 Home equity - - - - - Commercial real estate 253 253 - 363 1 Construction and land development 134 134 - 134 - Commercial business 184 184 - 209 1 With an allowance recorded: Residential real estate 80 270 21 533 - Home equity - - - - - Commercial real estate 259 259 144 79 - Construction & land development - - - - - Commercial business 540 540 539 327 - Total: Residential real estate $ 1,152 $ 3,621 $ 21 $ 1,883 $ 11 Home equity $ - $ - $ - $ - $ - Commercial real estate $ 512 $ 512 $ 144 $ 442 $ 1 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 724 $ 724 $ 539 $ 536 $ 1 As a result of acquisition activity, the Bancorp acquired loans for which there was evidence of credit quality deterioration since origination and it was determined that it was probable that the Bancorp would be unable to collect all contractually required principal and interest payments. At March 31, 2018, total purchased credit impaired loans with unpaid principal balances totaled $ 2.4 712 2.6 690 (Dollars in thousands) 30-59 Days Past 60-89 Days Past Greater Than 90 Total Past Due Current Total Loans Recorded March 31, 2018 Residential real estate $ 2,858 $ 1,222 $ 2,789 $ 6,869 $ 166,997 $ 173,866 $ 46 Home equity 361 - 218 579 36,079 36,658 5 Commercial real estate 1,367 - 183 1,550 206,932 208,482 - Construction and land development - - 134 134 53,641 53,775 - Multifamily - 165 - 165 44,447 44,612 - Farmland - - - - 248 248 - Commercial business 228 275 142 645 75,709 76,354 - Consumer 9 - - 9 482 491 - Government - - - - 30,176 30,176 - Total $ 4,823 $ 1,662 $ 3,466 $ 9,951 $ 614,711 $ 624,662 $ 51 December 31, 2017 Residential real estate $ 4,921 $ 1,751 $ 3,092 $ 9,764 $ 162,377 $ 172,141 $ 225 Home equity 295 18 234 547 36,222 36,769 2 Commercial real estate 951 96 332 1,379 209,711 211,090 - Construction and land development - - 133 133 50,613 50,746 - Multifamily 319 - - 319 43,049 43,368 - Farmland - - - - - - - Commercial business 285 162 539 986 75,865 76,851 - Consumer 1 - - 1 460 461 - Government - - - - 28,785 28,785 - Total $ 6,772 $ 2,027 $ 4,330 $ 13,129 $ 607,082 $ 620,211 $ 227 (Dollars in thousands) March 31, December 31, Residential real estate $ 3,221 $ 3,509 Home equity 307 350 Commercial real estate 183 332 Construction and land development 134 133 Multifamily - - Farmland - - Commercial business 142 672 Consumer 9 - Government - - Total $ 3,996 $ 4,996 |
Foreclosed Real Estate
Foreclosed Real Estate | 3 Months Ended |
Mar. 31, 2018 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Real Estate Disclosure [Text Block] | Note 6 - Foreclosed Real Estate (Dollars in thousands) March 31, December 31, 2018 2017 Residential real estate $ 744 $ 914 Home equity - - Commercial real estate - 97 Construction and land development 468 468 Multifamily - - Farmland - - Commercial business 220 220 Consumer - - Government - - Total $ 1,432 $ 1,699 |
Goodwill, Other Intangible Asse
Goodwill, Other Intangible Assets, and Acquisition Related Accounting | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 - Goodwill, Other Intangible Assets, and Acquisition Related Accounting The Bancorp established a goodwill balance totaling $ 2.8 2.0 804 2.8 In addition to goodwill, a core deposit intangible of $ 93 7.9 3 9 12 471 8.2 15 43 58 For the First Federal acquisition, as part of the fair value of loans receivable, a net fair value discount was established for residential real estate, including home equity lines of credit, of $ 1.1 55 36 37 123 1.2 44 68 81 196 44 |
Concentrations of Credit Risk
Concentrations of Credit Risk | 3 Months Ended |
Mar. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | Note 8 - Concentrations of Credit Risk The primary lending area of the Bancorp encompasses all of Lake County in northwest Indiana, where a majority of loan activity is concentrated. The Bancorp is also an active lender in Porter County, and to a lesser extent, LaPorte, Newton and Jasper counties in Indiana, and Lake, Cook and Will counties in Illinois. Substantially all loans are secured by specific items of collateral including residences, commercial real estate, land development, business assets and consumer assets. |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share [Text Block] | Note 9 - Earnings per Share Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. Three Months Ended (Dollars in thousands, except per share data) March 31, 2018 2017 Basic earnings per common share: Net income as reported $ 2,561 $ 2,298 Weighted average common shares outstanding 2,867,413 2,863,156 Basic earnings per common share $ 0.89 $ 0.80 Diluted earnings per common share: Net income as reported $ 2,561 $ 2,298 Weighted average common shares outstanding 2,867,413 2,863,156 Add: Dilutive effect of assumed stock option exercises - 139 Weighted average common and dilutive potential common shares outstanding 2,867,413 2,863,295 Diluted earnings per common share $ 0.89 $ 0.80 |
Stock Based Compensation
Stock Based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 10 - Stock Based Compensation The Bancorp’s 2015 Stock Option and Incentive Plan (the Plan), which was adopted by the Bancorp’s Board of Directors on February 27, 2015 and approved by the Bancorp’s shareholders on April 24, 2015, permits the grant of equity awards for up to 250,000 As required by the Stock Compensation Topic, companies are required to record compensation cost for stock options and awards provided to employees in return for employment service. For the three months ended March 31, 2018, stock based compensation expense of $ 52 47 542 153 184 150 55 There were no incentive stock options granted during the first three months of 2018 or 2017. When options are granted, the cost is measured at the fair value of the options when granted, and this cost is expensed over the employment service period, which is normally the vesting period of the options or awards. At March 31, 2018, there were no outstanding incentive stock options. There were 4,433 4,575 Non-vested Shares Shares Weighted Non-vested at January 1, 2017 28,465 $ 26.67 Granted 4,575 39.00 Vested (1,625) 25.81 Forefited (725) 28.62 Non-vested at December 31, 2017 30,690 $ 28.51 Non-vested at January 1, 2018 30,690 $ 28.51 Granted 4,433 43.50 Vested (3,200) 21.00 Forefited - Non-vested at March 31, 2018 31,923 $ 31.34 |
Change in Accounting Principles
Change in Accounting Principles | 3 Months Ended |
Mar. 31, 2018 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Note 11 - Change in Accounting Principles In May 2014, FASB issued Accounting Standards Update (ASU) No. 2014-09 and ASU 2015-14, Revenue from Contracts with Customers (Topic 606) In January 2016, FASB issued Accounting Standards Update (ASU) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities |
Upcoming Accounting Standards
Upcoming Accounting Standards | 3 Months Ended |
Mar. 31, 2018 | |
Upcoming Accounting Standards [Abstract] | |
Upcoming Accounting Standards [Text Block] | Note 12 - Upcoming Accounting Standards In February 2016, FASB issued ASU No. 2016-02, Lease In March 2016, FASB issued ASU No. 2016-09: CompensationStock Compensation (Topic 718)Improvements to Employee Share-Based Payment Accounting In June 2016, FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In March 2017, the FASB issued ASU 2017-08, ReceivablesNonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 13 - Fair Value The Fair Value Measurements Topic establishes a hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Topic describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair values of securities available-for-sale are determined on a recurring basis by obtaining quoted prices on nationally recognized securities exchanges or pricing models utilizing significant observable inputs such as matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities. Different judgments and assumptions used in pricing could result in different estimates of value. In certain cases where market data is not readily available because of a lack of market activity or little public disclosure, values may be based on unobservable inputs and classified in Level 3 of the fair value hierarchy. At the end of each reporting period, securities held in the investment portfolio are evaluated on an individual security level for other-than-temporary impairment in accordance with the Investments Debt and Equity Securities The Bancorp’s management utilizes a specialist to perform an other-than-temporary impairment analysis for each of its four pooled trust preferred securities. The analysis is performed semiannually on June 30 and December 31 and utilizes analytical models used to project future cash flows for the pooled trust preferred securities based on current assumptions for prepayments, default and deferral rates, and recoveries. The projected cash flows are then tested for impairment consistent with the Investments Other Investments Debt and Equity Securities (Dollars in thousands) Collateralized debt obligations other-than-temporary impairment Ending balance, December 31, 2017 $ 271 Additions not previously recognized - Ending balance, March 31, 2018 $ 271 Cusip 74043CAC1 74042TAJ0 01449TAB9 01450NAC6 Deal name PreTSLXXIV PreTSL XXVII Alesco IX Alesco XVII Class B-1 C-1 A-2A B Lowest credit rating assigned CCC CC BB CCC Number of performing banks 62 33 63 51 Number of performing insurance companies 13 7 10 n/a Number of issuers in default 16 7 2 4 Number of issuers in deferral 2 2 1 1 Defaults & deferrals as a % of performing collateral 26.56 % 20.06 % 2.93 % 8.11 % Subordination: As a % of performing collateral 23.55 % 8.35 % 53.11 % 35.58 % As a % of performing collateral-adjusted for projected future defaults 18.67 % 1.24 % 49.64 % 31.69 % Other-than-temporary impairment model assumptions: Defaults: Year 1 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 2 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 3 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % > 3 Years - issuer average (1) (1) (1) (1) Discount rate - 3 month Libor, plus implicit yield spread at purchase 1.48 % 1.23 % 1.27 % 1.44 % Recovery assumptions (2) (2) (2) (2) Prepayments 0.00 % 0.00 % 0.00 % 0.00 % Other-than-temporary impairment $ 41 $ 132 $ 36 $ 62 (1) - Default rates > 3 years are evaluated on a issuer by issuer basis and range from 0.25 5.00 (2) - Recovery assumptions are evaluated on a issuer by issuer basis and range from 0 15 In the preceding table, the Bancorp’s subordination for each trust preferred security is calculated by taking the total performing collateral and subtracting the sum of the total collateral within the Bancorp’s class and the total collateral within all senior classes, and then stating this result as a percentage of the total performing collateral. This measure is an indicator of the level of collateral that can default before potential cash flow disruptions may occur. In addition, management calculates subordination assuming future collateral defaults by utilizing the default/deferral assumptions in the Bancorp’s other-than-temporary-impairment analysis. Subordination assuming future default/deferral assumptions is calculated by deducting future defaults from the current performing collateral. At March 31, 2018, management reviewed the subordination levels for each security in context of the level of current collateral defaults and deferrals within each security; the potential for additional defaults and deferrals within each security; the length of time that the security has been in “payment in kind” status; and the Bancorp’s class position within each security. Management calculated the other-than-temporary impairment model assumptions based on the specific collateral underlying each individual security. The following assumption methodology was applied consistently to each of the four pooled trust preferred securities: For collateral that has already defaulted, no recovery was assumed; no cash flows were assumed from collateral currently in deferral, with the exception of the recovery assumptions. The default and recovery assumptions were calculated based on a detailed collateral review. The discount rate assumption used in the calculation of the present value of cash flows is based on the discount margin (i.e., credit spread) at the time each security was purchased using the original purchase price. The discount margin is then added to the appropriate 3-month LIBOR forward rate obtained from the forward LIBOR curve. At March 31, 2018, three of the trust preferred securities with a cost basis of $ 3.5 Investments Debt and Equity Securities Topic Assets and Liabilities Measured at Fair Value on a Recurring Basis (Dollars in thousands) Fair Value Measurements at March 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Available-for-sale debt securities: Money market fund $ 924 $ 924 $ - $ - U.S. government sponsored entities 5,838 - 5,838 - Collateralized mortgage obligations and residential mortgage-backed securities 139,169 - 139,169 - Municipal securities 92,085 - 92,085 - Collateralized debt obligations 3,455 - - 3,455 Total securities available-for-sale $ 241,471 $ 924 $ 237,092 $ 3,455 (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Available-for-sale debt securities: Money market fund $ 476 $ 476 $ - $ - U.S. government sponsored entities 3,890 - 3,890 - Collateralized mortgage obligations and residential mortgage-backed securities 132,938 - 132,938 - Municipal securities 103,747 - 103,747 - Collateralized debt obligations 3,439 - - 3,439 Total securities available-for-sale $ 244,490 $ 476 $ 240,575 $ 3,439 A roll forward of available-for-sale securities, which require significant adjustment based on unobservable data, are presented in the following table: (Dollars in thousands) Estimated Fair Value Available-for- Beginning balance, January 1, 2017 $ 2,409 Principal payments (154) Total unrealized gains, included in other comprehensive income 1,184 Transfers in and/or (out) of Level 3 - Ending balance, December 31, 2017 $ 3,439 Beginning balance, January 1, 2018 $ 3,439 Principal payments (12) Total unrealized gains, included in other comprehensive income 28 Transfers in and/or (out) of Level 3 - Ending balance, March 31, 2018 $ 3,455 (Dollars in thousands) Fair Value Measurements at March 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Impaired loans $ 1,973 $ - $ - $ 1,973 Foreclosed real estate 1,432 - - 1,432 (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Impaired loans $ 1,818 $ - $ - $ 1,818 Foreclosed real estate 1,699 - - 1,699 The fair value of impaired loans with specific allocations of the allowance for loan losses or loans for which charge-offs have been taken is generally based on a present value of cash flows or, for collateral dependent loans, based on recent real estate appraisals. Appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. The recorded investment in impaired loans was approximately $ 2.0 59 1.9 2.5 704 1.8 March 31, 2018 Estimated Fair Value Measurements at March 31, 2018 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 20,415 $ 20,415 $ 20,415 $ - $ - Certificates of deposit in other financial institutions 1,526 1,493 - 1,493 - Securities available-for-sale 241,471 241,471 924 237,092 3,455 Loans held-for-sale 1,908 1,949 1,949 - - Loans receivable, net 617,565 602,764 - - 602,764 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,052 3,052 - 3,052 - Financial liabilities: Non-interest bearing deposits 126,582 126,582 126,582 - - Interest bearing deposits 668,791 666,925 474,069 192,856 - Repurchase agreements 13,396 13,387 11,642 1,745 - Borrowed funds 30,360 30,254 260 29,994 - Interest rate swap agreements 18 18 - 18 - Accrued interest payable 42 42 - 42 - December 31, 2017 Estimated Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 11,025 $ 11,025 $ 11,025 $ - $ - Certificates of deposit in other financial institutions 1,676 1,640 - 1,640 - Securities available-for-sale 244,490 244,490 476 240,575 3,439 Loans held-for-sale 1,592 1,625 1,625 - - Loans receivable, net 612,729 608,506 - - 608,506 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,262 3,262 - 3,262 - Financial liabilities: Non-interest bearing deposits 120,556 120,556 120,556 - - Interest bearing deposits 672,448 670,967 488,528 182,439 - Repurchase agreements 11,300 11,292 9,545 1,747 - Borrowed funds 20,881 20,818 600 20,218 - Accrued interest payable 42 42 - 42 - The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the periods ended March 31, 2018: Cash and cash equivalents carrying amounts approximate fair value. The fair values of securities available-for-sale are obtained from broker pricing (Level 2), with the exception of collateralized debt obligations, which are valued by a third-party specialist (Level 3). Loans held-for-sale comprise residential mortgages and are priced based on values established by the secondary mortgage markets (Level 1). The estimated fair value for net loans receivable is based on estimates of the rate the Bancorp would charge for similar such loans, applied for the time period until estimated repayment, in addition to appraisals which may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach (Level 3). Federal Home Loan Bank stock is estimated at book value due to restrictions that limit the sale or transfer of the security. Fair value of accrued interest receivable and payable approximates book value, as the carrying values are determined using the observable interest rate, balance, and last payment date. Non-interest and interest bearing deposits, which include checking, savings, and money market deposits, are estimated to have fair values based on the amount payable as of the reporting date (Level 1). The fair value of fixed-maturity certificates of deposit (included in interest bearing deposits) are based on estimates of the rate the Bancorp would pay on similar deposits, applied for the time period until maturity (Level 2). Estimated fair values for short-term repurchase agreements, which represent sweeps from demand deposits to accounts secured by pledged securities, are estimated based on the amount payable as of the reporting date (Level 1). Longer-term repurchase agreements, with contractual maturity dates of quarter or more, are based on estimates of the rate the Bancorp would pay on similar deposits, applied for the time period until maturity (Level 2). Short-term borrowings are generally only held overnight, therefore, their carrying amount is a reasonable estimate of fair value (Level 1). The fair value of FHLB Advances (included in borrowed funds) are estimated by discounting the future cash flows using quoted rates from the FHLB for similar advances with similar maturities (Level 2). The estimated fair value of other financial instruments, and off-balance sheet loan commitments, approximate cost and are not considered significant to this presentation. The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the periods ended December 31, 2017: Cash and cash equivalent carrying amounts approximate fair value. Certificates of deposits in other financial institutions carrying amounts approximate fair value (Level 2). The fair values of securities available-for-sale are obtained from broker pricing (Level 2), with the exception of collateralized debt obligations, which are valued by a third-party specialist (Level 3). Loans held-for-sale comprise residential mortgages and are priced based on values established by the secondary mortgage markets (Level 1). The estimated fair value for net loans receivable is based on estimates of the rate the Bancorp would charge for similar such loans, applied for the time period until estimated repayment, in addition to appraisals which may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach (Level 3). Federal Home Loan Bank stock is estimated at book value due to restrictions that limit the sale or transfer of the security. Fair values of accrued interest receivable and payable approximate book value, as the carrying values are determined using the observable interest rate, balance, and last payment date. Non-interest and interest bearing deposits, which include checking, savings, and money market deposits, are estimated to have fair values based on the amount payable as of the reporting date (Level 1). The fair value of fixed-maturity certificates of deposit (included in interest bearing deposits) are based on estimates of the rate the Bancorp would pay on similar deposits, applied for the time period until maturity (Level 2). Estimated fair values for short-term repurchase agreements, which represent sweeps from demand deposits to accounts secured by pledged securities, are estimated based on the amount payable as of the reporting date (Level 1). Longer-term repurchase agreements, with contractual maturity dates of three months or more, are based on estimates of the rate the Bancorp would pay on similar deposits, applied for the time period until maturity (Level 2). Short-term borrowings are generally only held overnight, therefore, their carrying amount is a reasonable estimate of fair value (Level 1). The fair value of FHLB Advances are estimated by discounting the future cash flows using quoted rates from the FHLB for similar advances with similar maturities (Level 2). The estimated fair value of other financial instruments, and off-balance sheet loan commitments, approximate cost and are not considered significant to this presentation. |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows: (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value March 31, 2018 Money market fund $ 924 $ - $ - $ 924 U.S. government sponsored entities 5,997 3 (162) 5,838 Collateralized mortgage obligations and residential mortgage-backed securities 142,412 36 (3,279) 139,169 Municipal securities 91,552 1,307 (774) 92,085 Collateralized debt obligations 4,823 - (1,368) 3,455 Total securities available-for-sale $ 245,708 $ 1,346 $ (5,583) $ 241,471 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2017 Money market fund $ 476 $ - $ - $ 476 U.S. government sponsored entities 3,996 - (106) 3,890 Collateralized mortgage obligations and residential mortgage-backed securities 134,224 170 (1,456) 132,938 Municipal securities 100,088 3,709 (50) 103,747 Collateralized debt obligations 4,835 - (1,396) 3,439 Total securities available-for-sale $ 243,619 $ 3,879 $ (3,008) $ 244,490 |
Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] | The estimated fair value of available-for-sale debt securities at March 31, 2018, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately. (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent March 31, 2018 Value Yield (%) Due in one year or less $ 1,595 6.54 Due from one to five years 4,787 4.36 Due from five to ten years 24,533 4.88 Due over ten years 71,387 4.77 Collateralized mortgage obligations and residential mortgage-backed securities 139,169 2.70 Total $ 241,471 3.59 |
Schedule of Realized Gain (Loss) [Table Text Block] | Sales of available-for-sale securities were as follows for the three months ended: (Dollars in thousands) March 31, March 31, 2018 2017 Proceeds $ 14,668 $ 17,964 Gross gains 758 334 Gross losses - (41) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows: (Dollars in thousands) Unrealized Ending balance, December 31, 2017 $ 684 Current period change (4,032) Ending balance, March 31, 2018 $ (3,348) |
Unrealized Gain (Loss) on Investments [Table Text Block] | Securities with gross unrealized losses at March 31, 2018 and December 31, 2017 not recognized in income are as follows: (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses March 31, 2018 U.S. government sponsored entities $ - $ - $ 3,835 $ (162) $ 3,835 $ (162) Collateralized mortgage obligations and residential mortgage-backed securities 96,178 (1,735) 35,217 (1,544) 131,395 (3,279) Municipal securities 26,877 (639) 1,726 (135) 28,603 (774) Collateralized debt obligations - - 3,455 (1,368) 3,455 (1,368) Total temporarily impaired $ 123,055 $ (2,374) $ 44,233 $ (3,209) $ 167,288 $ (5,583) Number of securities 99 37 136 (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2017 U.S. government sponsored entities $ - $ - $ 3,890 $ (106) $ 3,890 $ (106) Collateralized mortgage obligations and residential mortgage-backed securities 66,917 (511) 37,003 (945) 103,920 (1,456) Municipal securities 1,790 (3) 1,815 (47) 3,605 (50) Collateralized debt obligations - - 3,439 (1,396) 3,439 (1,396) Total temporarily impaired $ 68,707 $ (514) $ 46,147 $ (2,494) $ 114,854 $ (3,008) Number of securities 40 37 77 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable are summarized below: (Dollars in thousands) March 31, 2018 December 31, 2017 Loans secured by real estate: Residential real estate $ 174,053 $ 172,780 Home equity 36,606 36,718 Commercial real estate 208,482 211,090 Construction and land development 53,775 50,746 Farmland 248 - Multifamily 44,612 43,369 Total loans secured by real estate 517,776 514,703 Consumer 489 460 Commercial business 76,546 77,122 Government 30,176 28,785 Subtotal 624,987 621,070 Less: Net deferred loan origination fees (124) (130) Undisbursed loan funds (201) (729) Loans receivable $ 624,662 $ 620,211 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended March 31, 2018: Allowance for loan losses: Residential real estate $ 1,568 $ (68) - $ (7) $ 1,493 Home equity 166 (19) - 12 159 Commercial real estate 3,125 (119) - (10) 2,996 Construction and land development 618 - - 43 661 Multifamily 622 - - (7) 615 Farmland - - - 4 4 Consumer 31 (8) 4 8 35 Commercial business 1,298 (526) 10 295 1,077 Government 54 - - 3 57 Total $ 7,482 $ (740) $ 14 $ 341 $ 7,097 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended March 31, 2017: Allowance for loan losses: Residential real estate $ 2,111 $ (858) $ - $ 42 $ 1,295 Home equity 299 - - 7 306 Commercial real estate 3,113 - - 85 3,198 Construction and land development 617 - - (24) 593 Multifamily 572 - - (11) 561 Farmland - - - - - Consumer 34 (5) 2 (3) 28 Commercial business 896 (245) 8 136 795 Government 56 - - 2 58 Total $ 7,698 $ (1,108) $ 10 $ 234 $ 6,834 |
Individually Impaired Loans Receivables [Table Text Block] | Ending Balances (Dollars in thousands) Individually Collectively Loan receivables Individually Purchased credit Collectively The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at March 31, 2018: Residential real estate $ 31 $ 1,462 $ 173,866 $ 561 $ 712 $ 172,593 Home equity - 159 36,658 69 - 36,589 Commercial real estate 18 2,978 208,482 363 - 208,119 Construction and land development - 661 53,775 134 - 53,641 Multifamily - 615 44,612 - - 44,612 Farmland - 4 248 - - 248 Commercial business 10 1,067 76,354 193 - 76,161 Consumer - 35 491 - - 491 Government - 57 30,176 - - 30,176 Total $ 59 $ 7,038 $ 624,662 $ 1,320 $ 712 $ 622,630 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2017: Residential real estate $ 21 $ 1,547 $ 172,141 $ 462 $ 690 $ 170,989 Home equity - 166 36,769 - - 36,769 Commercial real estate 144 2,981 211,090 512 - 210,578 Construction and land development - 618 50,746 134 - 50,612 Multifamily. - 622 43,368 - - 43,368 Farmland - - - - - - Commercial business 539 759 76,851 724 - 76,127 Consumer - 31 461 - - 461 Government - 54 28,785 - - 28,785 Total $ 704 $ 6,778 $ 620,211 $ 1,832 $ 690 $ 617,689 |
Financing Receivable Credit Quality Indicators [Table Text Block] | The Bancorp's credit quality indicators are summarized below at March 31, 2018 and December 31, 2017: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category March 31, 2018 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average Acceptable Marginally Pass/monitor Special Substandard Total Residential real estate $ 614 $ 14,951 $ 92,844 $ 8,649 $ 48,937 $ 4,186 $ 3,685 $ 173,866 Home equity 67 906 34,929 - 173 271 312 36,658 Commercial real estate - 2,127 76,593 81,047 42,746 5,606 363 208,482 Construction and land development - - 23,208 21,159 9,274 - 134 53,775 Multifamily - - 19,887 22,882 1,610 233 - 44,612 Farmland - - 248 - - - - 248 Commercial business 7,986 17,545 14,153 22,060 12,275 2,142 193 76,354 Consumer 118 3 361 - - - 9 491 Government - 2,220 21,976 5,980 - - - 30,176 Total $ 8,785 $ 37,752 $ 284,199 $ 161,777 $ 115,015 $ 12,438 $ 4,696 $ 624,662 December 31, 2017 2 3 4 5 6 7 8 Loan Segment Moderate Above average Acceptable Marginally Pass/monitor Special Substandard Total Residential real estate $ 887 $ 12,317 $ 92,241 $ 8,759 $ 50,075 $ 4,130 $ 3,732 $ 172,141 Home equity - 1,065 34,871 - 250 233 350 36,769 Commercial real estate - 2,372 79,847 81,547 40,054 6,758 512 211,090 Construction and land development - - 20,719 19,583 10,310 - 134 50,746 Multifamily - - 20,159 20,965 2,076 168 - 43,368 Farmland - - - - - - - - Commercial business 7,169 17,202 16,784 21,087 13,041 394 1,174 76,851 Consumer - 131 330 - - - - 461 Government - 2,318 20,202 6,265 - - - 28,785 Total $ 8,056 $ 35,405 $ 285,153 $ 158,206 $ 115,806 $ 11,683 $ 5,902 $ 620,211 |
Impaired Financing Receivables [Table Text Block] | The Bancorp's individually evaluated impaired loans are summarized below: For the three months ended As of March 31, 2018 March 31, 2018 (Dollars in thousands) Recorded Unpaid Principal Related Allowance Average Recorded Interest Income With no related allowance recorded: Residential real estate $ 1,141 $ 2,871 $ - $ 1,103 $ 6 Home equity 69 69 - 35 Commercial real estate 250 250 - 252 - Construction and land development 134 134 - 134 - Commercial business 183 183 - 184 1 With an allowance recorded: Residential real estate 132 132 31 106 5 Home equity - - - - - Commercial real estate 113 113 18 186 4 Construction and land development - - - - - Commercial business 10 10 10 275 - Total: Residential real estate $ 1,273 $ 3,003 $ 31 $ 1,209 $ 11 Home equity $ 69 $ 69 $ - $ 35 $ - Commercial real estate $ 363 $ 364 $ 18 $ 438 $ 4 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 193 $ 193 $ 10 $ 459 $ 1 For the three months ended As of December 31, 2017 March 31, 2017 (Dollars in thousands) Recorded Unpaid Principal Related Allowance Average Recorded Interest Income With no related allowance recorded: Residential real estate $ 1,072 $ 3,351 $ - $ 1,350 $ 11 Home equity - - - - - Commercial real estate 253 253 - 363 1 Construction and land development 134 134 - 134 - Commercial business 184 184 - 209 1 With an allowance recorded: Residential real estate 80 270 21 533 - Home equity - - - - - Commercial real estate 259 259 144 79 - Construction & land development - - - - - Commercial business 540 540 539 327 - Total: Residential real estate $ 1,152 $ 3,621 $ 21 $ 1,883 $ 11 Home equity $ - $ - $ - $ - $ - Commercial real estate $ 512 $ 512 $ 144 $ 442 $ 1 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 724 $ 724 $ 539 $ 536 $ 1 |
Past Due Financing Receivables [Table Text Block] | The Bancorp's age analysis of past due loans is summarized below: (Dollars in thousands) 30-59 Days Past 60-89 Days Past Greater Than 90 Total Past Due Current Total Loans Recorded March 31, 2018 Residential real estate $ 2,858 $ 1,222 $ 2,789 $ 6,869 $ 166,997 $ 173,866 $ 46 Home equity 361 - 218 579 36,079 36,658 5 Commercial real estate 1,367 - 183 1,550 206,932 208,482 - Construction and land development - - 134 134 53,641 53,775 - Multifamily - 165 - 165 44,447 44,612 - Farmland - - - - 248 248 - Commercial business 228 275 142 645 75,709 76,354 - Consumer 9 - - 9 482 491 - Government - - - - 30,176 30,176 - Total $ 4,823 $ 1,662 $ 3,466 $ 9,951 $ 614,711 $ 624,662 $ 51 December 31, 2017 Residential real estate $ 4,921 $ 1,751 $ 3,092 $ 9,764 $ 162,377 $ 172,141 $ 225 Home equity 295 18 234 547 36,222 36,769 2 Commercial real estate 951 96 332 1,379 209,711 211,090 - Construction and land development - - 133 133 50,613 50,746 - Multifamily 319 - - 319 43,049 43,368 - Farmland - - - - - - - Commercial business 285 162 539 986 75,865 76,851 - Consumer 1 - - 1 460 461 - Government - - - - 28,785 28,785 - Total $ 6,772 $ 2,027 $ 4,330 $ 13,129 $ 607,082 $ 620,211 $ 227 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) March 31, December 31, Residential real estate $ 3,221 $ 3,509 Home equity 307 350 Commercial real estate 183 332 Construction and land development 134 133 Multifamily - - Farmland - - Commercial business 142 672 Consumer 9 - Government - - Total $ 3,996 $ 4,996 |
Foreclosed Real Estate (Tables)
Foreclosed Real Estate (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | Foreclosed real estate at period-end is summarized below: (Dollars in thousands) March 31, December 31, 2018 2017 Residential real estate $ 744 $ 914 Home equity - - Commercial real estate - 97 Construction and land development 468 468 Multifamily - - Farmland - - Commercial business 220 220 Consumer - - Government - - Total $ 1,432 $ 1,699 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the three months ended March 31, 2018 and 2017 are as follows: Three Months Ended (Dollars in thousands, except per share data) March 31, 2018 2017 Basic earnings per common share: Net income as reported $ 2,561 $ 2,298 Weighted average common shares outstanding 2,867,413 2,863,156 Basic earnings per common share $ 0.89 $ 0.80 Diluted earnings per common share: Net income as reported $ 2,561 $ 2,298 Weighted average common shares outstanding 2,867,413 2,863,156 Add: Dilutive effect of assumed stock option exercises - 139 Weighted average common and dilutive potential common shares outstanding 2,867,413 2,863,295 Diluted earnings per common share $ 0.89 $ 0.80 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | A summary of restricted stock activity under the Bancorp’s incentive stock option and incentive plans described above for the three months ended March 31, 2018 follows: Non-vested Shares Shares Weighted Non-vested at January 1, 2017 28,465 $ 26.67 Granted 4,575 39.00 Vested (1,625) 25.81 Forefited (725) 28.62 Non-vested at December 31, 2017 30,690 $ 28.51 Non-vested at January 1, 2018 30,690 $ 28.51 Granted 4,433 43.50 Vested (3,200) 21.00 Forefited - Non-vested at March 31, 2018 31,923 $ 31.34 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | The table below shows the credit loss roll forward on a year-to-date basis for the Bancorp’s pooled trust preferred securities that have been classified with other-than-temporary impairment: (Dollars in thousands) Collateralized debt obligations other-than-temporary impairment Ending balance, December 31, 2017 $ 271 Additions not previously recognized - Ending balance, March 31, 2018 $ 271 |
Schedule of Fair Value, Pooled Trust Preferred Securities [Table Text Block] | The following table contains information regarding the Bancorp’s pooled trust preferred securities impairment evaluation as of December 31, 2017: Cusip 74043CAC1 74042TAJ0 01449TAB9 01450NAC6 Deal name PreTSLXXIV PreTSL XXVII Alesco IX Alesco XVII Class B-1 C-1 A-2A B Lowest credit rating assigned CCC CC BB CCC Number of performing banks 62 33 63 51 Number of performing insurance companies 13 7 10 n/a Number of issuers in default 16 7 2 4 Number of issuers in deferral 2 2 1 1 Defaults & deferrals as a % of performing collateral 26.56 % 20.06 % 2.93 % 8.11 % Subordination: As a % of performing collateral 23.55 % 8.35 % 53.11 % 35.58 % As a % of performing collateral-adjusted for projected future defaults 18.67 % 1.24 % 49.64 % 31.69 % Other-than-temporary impairment model assumptions: Defaults: Year 1 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 2 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 3 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % > 3 Years - issuer average (1) (1) (1) (1) Discount rate - 3 month Libor, plus implicit yield spread at purchase 1.48 % 1.23 % 1.27 % 1.44 % Recovery assumptions (2) (2) (2) (2) Prepayments 0.00 % 0.00 % 0.00 % 0.00 % Other-than-temporary impairment $ 41 $ 132 $ 36 $ 62 (1) - Default rates > 3 years are evaluated on a issuer by issuer basis and range from 0.25 5.00 (2) - Recovery assumptions are evaluated on a issuer by issuer basis and range from 0 15 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | There were no transfers to or from Levels 1 and 2 during the three months ended March 31, 2018. Assets measured at fair value on a recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at March 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Available-for-sale debt securities: Money market fund $ 924 $ 924 $ - $ - U.S. government sponsored entities 5,838 - 5,838 - Collateralized mortgage obligations and residential mortgage-backed securities 139,169 - 139,169 - Municipal securities 92,085 - 92,085 - Collateralized debt obligations 3,455 - - 3,455 Total securities available-for-sale $ 241,471 $ 924 $ 237,092 $ 3,455 (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Available-for-sale debt securities: Money market fund $ 476 $ 476 $ - $ - U.S. government sponsored entities 3,890 - 3,890 - Collateralized mortgage obligations and residential mortgage-backed securities 132,938 - 132,938 - Municipal securities 103,747 - 103,747 - Collateralized debt obligations 3,439 - - 3,439 Total securities available-for-sale $ 244,490 $ 476 $ 240,575 $ 3,439 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | A roll forward of available-for-sale securities, which require significant adjustment based on unobservable data, are presented in the following table: (Dollars in thousands) Estimated Fair Value Available-for- Beginning balance, January 1, 2017 $ 2,409 Principal payments (154) Total unrealized gains, included in other comprehensive income 1,184 Transfers in and/or (out) of Level 3 - Ending balance, December 31, 2017 $ 3,439 Beginning balance, January 1, 2018 $ 3,439 Principal payments (12) Total unrealized gains, included in other comprehensive income 28 Transfers in and/or (out) of Level 3 - Ending balance, March 31, 2018 $ 3,455 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | Assets measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at March 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Impaired loans $ 1,973 $ - $ - $ 1,973 Foreclosed real estate 1,432 - - 1,432 (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Impaired loans $ 1,818 $ - $ - $ 1,818 Foreclosed real estate 1,699 - - 1,699 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table shows carrying values and related estimated fair values of financial instruments as of the dates indicated. Estimated fair values are further categorized by the inputs used to measure fair value. Items that are not financial instruments are not included. March 31, 2018 Estimated Fair Value Measurements at March 31, 2018 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 20,415 $ 20,415 $ 20,415 $ - $ - Certificates of deposit in other financial institutions 1,526 1,493 - 1,493 - Securities available-for-sale 241,471 241,471 924 237,092 3,455 Loans held-for-sale 1,908 1,949 1,949 - - Loans receivable, net 617,565 602,764 - - 602,764 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,052 3,052 - 3,052 - Financial liabilities: Non-interest bearing deposits 126,582 126,582 126,582 - - Interest bearing deposits 668,791 666,925 474,069 192,856 - Repurchase agreements 13,396 13,387 11,642 1,745 - Borrowed funds 30,360 30,254 260 29,994 - Interest rate swap agreements 18 18 - 18 - Accrued interest payable 42 42 - 42 - December 31, 2017 Estimated Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 11,025 $ 11,025 $ 11,025 $ - $ - Certificates of deposit in other financial institutions 1,676 1,640 - 1,640 - Securities available-for-sale 244,490 244,490 476 240,575 3,439 Loans held-for-sale 1,592 1,625 1,625 - - Loans receivable, net 612,729 608,506 - - 608,506 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,262 3,262 - 3,262 - Financial liabilities: Non-interest bearing deposits 120,556 120,556 120,556 - - Interest bearing deposits 672,448 670,967 488,528 182,439 - Repurchase agreements 11,300 11,292 9,545 1,747 - Borrowed funds 20,881 20,818 600 20,218 - Accrued interest payable 42 42 - 42 - |
Acquisition Activity (Details T
Acquisition Activity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | |
Feb. 20, 2018 | Dec. 31, 2017 | |
Consolidated Entities [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed Total Assets | $ 1,100,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed Total Loans | 742,300 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed Total Deposits | 945,900 | |
First Personal Bank [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition Description Of Consideration Paid | (i) 0.1246 shares of Bancorp common stock, and (ii) $6.67 per share in cash for each share of First Personals common stock. Stockholders holding less than 100 shares of First Personal common stock will have the right to receive $12.12 in cash and no stock consideration for each share of First Personal common stock. | |
Share Price | $ 42.80 | |
Business Combination, Consideration Transferred | $ 15,600 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed Total Assets | 145,800 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed Total Loans | 99,900 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed Total Deposits | $ 130,100 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | $ 245,708 | $ 243,619 |
Gross Unrealized Gains | 1,346 | 3,879 |
Gross Unrealized Losses | (5,583) | (3,008) |
Estimated Fair Value | 241,471 | 244,490 |
Municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 91,552 | 100,088 |
Gross Unrealized Gains | 1,307 | 3,709 |
Gross Unrealized Losses | (774) | (50) |
Estimated Fair Value | 92,085 | 103,747 |
U.S. government sponsored entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 5,997 | 3,996 |
Gross Unrealized Gains | 3 | 0 |
Gross Unrealized Losses | (162) | (106) |
Estimated Fair Value | 5,838 | 3,890 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 142,412 | 134,224 |
Gross Unrealized Gains | 36 | 170 |
Gross Unrealized Losses | (3,279) | (1,456) |
Estimated Fair Value | 139,169 | 132,938 |
Collateralized Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 4,823 | 4,835 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1,368) | (1,396) |
Estimated Fair Value | 3,455 | 3,439 |
Money market fund [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 924 | 476 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | $ 924 | $ 476 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Contractual Maturities Of Available For Sale Debt Securities [Line Items] | ||
Estimated Fair Value, Due in one year or less | $ 1,595 | |
Estimated Fair Value, Due from one to five years | 4,787 | |
Estimated Fair Value, Due from five to ten years | 24,533 | |
Estimated Fair Value, Due over ten years | 71,387 | |
Estimated Fair Value, Total | $ 241,471 | $ 244,490 |
Tax-Equivalent Yield, Due in one year or less | 6.54% | |
Tax-Equivalent Yield, Due from one to five years | 4.36% | |
Tax-Equivalent Yield, Due from five to ten years | 4.88% | |
Tax-Equivalent Yield, Due over ten years | 4.77% | |
Tax-Equivalent Yield, Total | 3.59% | |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | ||
Contractual Maturities Of Available For Sale Debt Securities [Line Items] | ||
Estimated Fair Value, Total | $ 139,169 | $ 132,938 |
Tax-Equivalent Yield, Total | 2.70% |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Realized Gain Loss [Line Items] | ||
Proceeds | $ 14,668 | $ 17,964 |
Gross gains | 758 | 334 |
Gross losses | $ 0 | $ (41) |
Securities (Details 3)
Securities (Details 3) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Ending balance, December 31, 2017 | $ 684 |
Ending balance, March 31, 2018 | (3,348) |
AOCI Attributable to Parent [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Ending balance, December 31, 2017 | (3,348) |
Current period change | (4,032) |
Ending balance, March 31, 2018 | $ 684 |
Securities (Details 4)
Securities (Details 4) $ in Thousands | Mar. 31, 2018USD ($)Securities | Dec. 31, 2017USD ($)Securities |
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | $ 123,055 | $ 68,707 |
Unrealized Losses, Less than 12 months | (2,374) | (514) |
Estimated Fair Value, 12 months or longer | 44,233 | 46,147 |
Unrealized Losses, 12 months or longer | (3,209) | (2,494) |
Estimated Fair Value, Total | 167,288 | 114,854 |
Unrealized Losses, Total | $ (5,583) | $ (3,008) |
Number of securities, Unrealized Losses, Less than 12 months | Securities | 99 | 40 |
Number of securities, Unrealized Losses, 12 months or longer | Securities | 37 | 37 |
Number of securities, Unrealized Losses, Total | Securities | 136 | 77 |
U.S. government sponsored entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | $ 0 | $ 0 |
Unrealized Losses, Less than 12 months | 0 | 0 |
Estimated Fair Value, 12 months or longer | 3,835 | 3,890 |
Unrealized Losses, 12 months or longer | (162) | (106) |
Estimated Fair Value, Total | 3,835 | 3,890 |
Unrealized Losses, Total | (162) | (106) |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 96,178 | 66,917 |
Unrealized Losses, Less than 12 months | (1,735) | (511) |
Estimated Fair Value, 12 months or longer | 35,217 | 37,003 |
Unrealized Losses, 12 months or longer | (1,544) | (945) |
Estimated Fair Value, Total | 131,395 | 103,920 |
Unrealized Losses, Total | (3,279) | (1,456) |
Collateralized Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 0 | 0 |
Unrealized Losses, Less than 12 months | 0 | 0 |
Estimated Fair Value, 12 months or longer | 3,455 | 3,439 |
Unrealized Losses, 12 months or longer | (1,368) | (1,396) |
Estimated Fair Value, Total | 3,455 | 3,439 |
Unrealized Losses, Total | (1,368) | (1,396) |
Municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 26,877 | 1,790 |
Unrealized Losses, Less than 12 months | (639) | (3) |
Estimated Fair Value, 12 months or longer | 1,726 | 1,815 |
Unrealized Losses, 12 months or longer | (135) | (47) |
Estimated Fair Value, Total | 28,603 | 3,605 |
Unrealized Losses, Total | $ (774) | $ (50) |
Securities (Details Textual)
Securities (Details Textual) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Trading Securities Pledged as Collateral | $ 17.3 | $ 21.2 |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Subtotal | $ 624,987 | $ 621,070 |
Less: Net deferred loan origination fees | (124) | (130) |
Less: Undisbursed loan funds | (201) | (729) |
Loan receivables | 624,662 | 620,211 |
Loans secured by real estate: | ||
Total loans secured by real estate | 517,776 | 514,703 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable before Fees, Gross | 489 | 460 |
Commercial business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable before Fees, Gross | 76,546 | 77,122 |
Government [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable before Fees, Gross | 30,176 | 28,785 |
Loan receivables | 30,176 | 28,785 |
Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 173,866 | 172,141 |
Loans secured by real estate: | ||
Total loans secured by real estate | 174,053 | 172,780 |
Home equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 36,658 | 36,769 |
Loans secured by real estate: | ||
Total loans secured by real estate | 36,606 | 36,718 |
Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 208,482 | 211,090 |
Loans secured by real estate: | ||
Total loans secured by real estate | 208,482 | 211,090 |
Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 53,775 | 50,746 |
Loans secured by real estate: | ||
Total loans secured by real estate | 53,775 | 50,746 |
Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 248 | 0 |
Loans secured by real estate: | ||
Total loans secured by real estate | 248 | 0 |
Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 44,612 | 43,368 |
Loans secured by real estate: | ||
Total loans secured by real estate | $ 44,612 | $ 43,369 |
Loans Receivable (Details 1)
Loans Receivable (Details 1) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Allowance for loan losses: | |||
Beginning Balance | $ 7,482 | $ 7,698 | |
Charge-offs | (740) | (1,108) | |
Recoveries | 14 | 10 | |
Provisions | 341 | 234 | |
Ending Balance | 7,097 | 6,834 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 59 | $ 704 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 7,038 | 6,778 | |
LOAN RECEIVABLES | |||
Loan receivables | 624,662 | 620,211 | |
Ending balance: Loans individually evaluated for impairment | 1,320 | 1,832 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 712 | 690 | |
Ending balance: Loans collectively evaluated for impairment | 622,630 | 617,689 | |
Government [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 54 | 56 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provisions | 3 | 2 | |
Ending Balance | 57 | 58 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 57 | 54 | |
LOAN RECEIVABLES | |||
Loan receivables | 30,176 | 28,785 | |
Ending balance: Loans individually evaluated for impairment | 0 | 0 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | 30,176 | 28,785 | |
Residential real estate [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 1,568 | 2,111 | |
Charge-offs | (68) | (858) | |
Recoveries | 0 | 0 | |
Provisions | (7) | 42 | |
Ending Balance | 1,493 | 1,295 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 31 | 21 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 1,462 | 1,547 | |
LOAN RECEIVABLES | |||
Loan receivables | 173,866 | 172,141 | |
Ending balance: Loans individually evaluated for impairment | 561 | 462 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 712 | 690 | |
Ending balance: Loans collectively evaluated for impairment | 172,593 | 170,989 | |
Home equity [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 166 | 299 | |
Charge-offs | (19) | 0 | |
Recoveries | 0 | 0 | |
Provisions | 12 | 7 | |
Ending Balance | 159 | 306 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 159 | 166 | |
LOAN RECEIVABLES | |||
Loan receivables | 36,658 | 36,769 | |
Ending balance: Loans individually evaluated for impairment | 69 | 0 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | 36,589 | 36,769 | |
Commercial real estate [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 3,125 | 3,113 | |
Charge-offs | (119) | 0 | |
Recoveries | 0 | 0 | |
Provisions | (10) | 85 | |
Ending Balance | 2,996 | 3,198 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 18 | 144 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 2,978 | 2,981 | |
LOAN RECEIVABLES | |||
Loan receivables | 208,482 | 211,090 | |
Ending balance: Loans individually evaluated for impairment | 363 | 512 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | 208,119 | 210,578 | |
Construction and land develolpment [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 618 | 617 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provisions | 43 | (24) | |
Ending Balance | 661 | 593 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 661 | 618 | |
LOAN RECEIVABLES | |||
Loan receivables | 53,775 | 50,746 | |
Ending balance: Loans individually evaluated for impairment | 134 | 134 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | 53,641 | 50,612 | |
Multifamily [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 622 | 572 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provisions | (7) | (11) | |
Ending Balance | 615 | 561 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 615 | 622 | |
LOAN RECEIVABLES | |||
Loan receivables | 44,612 | 43,368 | |
Ending balance: Loans individually evaluated for impairment | 0 | 0 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | 44,612 | 43,368 | |
Consumer [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 31 | 34 | |
Charge-offs | (8) | (5) | |
Recoveries | 4 | 2 | |
Provisions | 8 | (3) | |
Ending Balance | 35 | 28 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 35 | 31 | |
LOAN RECEIVABLES | |||
Loan receivables | 491 | 461 | |
Ending balance: Loans individually evaluated for impairment | 0 | 0 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | 491 | 461 | |
Commercial business [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 1,298 | 896 | |
Charge-offs | (526) | (245) | |
Recoveries | 10 | 8 | |
Provisions | 295 | 136 | |
Ending Balance | 1,077 | 795 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 10 | 539 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 1,067 | 759 | |
LOAN RECEIVABLES | |||
Loan receivables | 76,354 | 76,851 | |
Ending balance: Loans individually evaluated for impairment | 193 | 724 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | 76,161 | 76,127 | |
Farmland [Member] | |||
Allowance for loan losses: | |||
Beginning Balance | 0 | 0 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provisions | 4 | 0 | |
Ending Balance | 4 | $ 0 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | |
Ending balance: Loans receivable collectively evaluated impairment reserves | 4 | 0 | |
LOAN RECEIVABLES | |||
Loan receivables | 248 | 0 | |
Ending balance: Loans individually evaluated for impairment | 0 | 0 | |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | |
Ending balance: Loans collectively evaluated for impairment | $ 248 | $ 0 |
Loans Receivable (Details 2)
Loans Receivable (Details 2) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 624,662 | $ 620,211 |
Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 30,176 | 28,785 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 173,866 | 172,141 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 36,658 | 36,769 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 208,482 | 211,090 |
Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 53,775 | 50,746 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 44,612 | 43,368 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 491 | 461 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 76,354 | 76,851 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 248 | 0 |
Moderate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 8,785 | 8,056 |
Moderate [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 614 | 887 |
Moderate [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 67 | 0 |
Moderate [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 118 | 0 |
Moderate [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 7,986 | 7,169 |
Moderate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Above average acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 37,752 | 35,405 |
Above average acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 2,220 | 2,318 |
Above average acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 14,951 | 12,317 |
Above average acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 906 | 1,065 |
Above average acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 2,127 | 2,372 |
Above average acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Above average acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Above average acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 3 | 131 |
Above average acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 17,545 | 17,202 |
Above average acceptable [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 284,199 | 285,153 |
Acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 21,976 | 20,202 |
Acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 92,844 | 92,241 |
Acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 34,929 | 34,871 |
Acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 76,593 | 79,847 |
Acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 23,208 | 20,719 |
Acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 19,887 | 20,159 |
Acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 361 | 330 |
Acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 14,153 | 16,784 |
Acceptable [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 248 | 0 |
Marginally acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 161,777 | 158,206 |
Marginally acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 5,980 | 6,265 |
Marginally acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 8,649 | 8,759 |
Marginally acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Marginally acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 81,047 | 81,547 |
Marginally acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 21,159 | 19,583 |
Marginally acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 22,882 | 20,965 |
Marginally acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Marginally acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 22,060 | 21,087 |
Marginally acceptable [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Pass/monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 115,015 | 115,806 |
Pass/monitor [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Pass/monitor [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 48,937 | 50,075 |
Pass/monitor [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 173 | 250 |
Pass/monitor [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 42,746 | 40,054 |
Pass/monitor [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 9,274 | 10,310 |
Pass/monitor [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 1,610 | 2,076 |
Pass/monitor [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Pass/monitor [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 12,275 | 13,041 |
Pass/monitor [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 12,438 | 11,683 |
Special mention [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,186 | 4,130 |
Special mention [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 271 | 233 |
Special mention [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 5,606 | 6,758 |
Special mention [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 233 | 168 |
Special mention [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 2,142 | 394 |
Special mention [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,696 | 5,902 |
Substandard [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 3,685 | 3,732 |
Substandard [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 312 | 350 |
Substandard [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 363 | 512 |
Substandard [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 134 | 134 |
Substandard [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 9 | 0 |
Substandard [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 193 | 1,174 |
Substandard [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 0 | $ 0 |
Loans Receivable (Details 3)
Loans Receivable (Details 3) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Residential real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $ 1,273 | $ 1,152 | |
Unpaid Principal Balance | 3,003 | 3,621 | |
Related Allowance | 31 | 21 | |
Average Recorded Investment | 1,209 | $ 1,883 | |
Interest Income Recognized | 11 | 11 | |
Home equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 69 | 0 | |
Unpaid Principal Balance | 69 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 35 | 0 | |
Interest Income Recognized | 0 | 0 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 363 | 512 | |
Unpaid Principal Balance | 364 | 512 | |
Related Allowance | 18 | 144 | |
Average Recorded Investment | 438 | 442 | |
Interest Income Recognized | 4 | 1 | |
Construction and land develolpment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 134 | 134 | |
Unpaid Principal Balance | 134 | 134 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 134 | 134 | |
Interest Income Recognized | 0 | 0 | |
Commercial business [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 193 | 724 | |
Unpaid Principal Balance | 193 | 724 | |
Related Allowance | 10 | 539 | |
Average Recorded Investment | 459 | 536 | |
Interest Income Recognized | 1 | 1 | |
Impaired Loans With No Related Allowance [Member] | Residential real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,141 | 1,072 | |
Unpaid Principal Balance | 2,871 | 3,351 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 1,103 | 1,350 | |
Interest Income Recognized | 6 | 11 | |
Impaired Loans With No Related Allowance [Member] | Home equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 69 | 0 | |
Unpaid Principal Balance | 69 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 35 | 0 | |
Interest Income Recognized | 0 | 0 | |
Impaired Loans With No Related Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 250 | 253 | |
Unpaid Principal Balance | 250 | 253 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 252 | 363 | |
Interest Income Recognized | 0 | 1 | |
Impaired Loans With No Related Allowance [Member] | Construction and land develolpment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 134 | 134 | |
Unpaid Principal Balance | 134 | 134 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 134 | 134 | |
Interest Income Recognized | 0 | 0 | |
Impaired Loans With No Related Allowance [Member] | Commercial business [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 183 | 184 | |
Unpaid Principal Balance | 183 | 184 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 184 | 209 | |
Interest Income Recognized | 1 | 1 | |
Impaired Loans With Related Allowance [Member] | Residential real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 132 | 80 | |
Unpaid Principal Balance | 132 | 270 | |
Related Allowance | 31 | 21 | |
Average Recorded Investment | 106 | 533 | |
Interest Income Recognized | 5 | 0 | |
Impaired Loans With Related Allowance [Member] | Home equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | 0 | |
Unpaid Principal Balance | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | 0 | |
Impaired Loans With Related Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 113 | 259 | |
Unpaid Principal Balance | 113 | 259 | |
Related Allowance | 18 | 144 | |
Average Recorded Investment | 186 | 79 | |
Interest Income Recognized | 4 | 0 | |
Impaired Loans With Related Allowance [Member] | Construction and land develolpment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | 0 | |
Unpaid Principal Balance | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Interest Income Recognized | 0 | 0 | |
Impaired Loans With Related Allowance [Member] | Commercial business [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 10 | 540 | |
Unpaid Principal Balance | 10 | 540 | |
Related Allowance | 10 | $ 539 | |
Average Recorded Investment | 275 | 327 | |
Interest Income Recognized | $ 0 | $ 0 |
Loans Receivable (Details 4)
Loans Receivable (Details 4) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 9,951 | $ 13,129 |
Current | 614,711 | 607,082 |
Total Loans | 624,662 | 620,211 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 51 | 227 |
Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 30,176 | 28,785 |
Total Loans | 30,176 | 28,785 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,869 | 9,764 |
Current | 166,997 | 162,377 |
Total Loans | 173,866 | 172,141 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 46 | 225 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 579 | 547 |
Current | 36,079 | 36,222 |
Total Loans | 36,658 | 36,769 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 5 | 2 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,550 | 1,379 |
Current | 206,932 | 209,711 |
Total Loans | 208,482 | 211,090 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 134 | 133 |
Current | 53,641 | 50,613 |
Total Loans | 53,775 | 50,746 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 165 | 319 |
Current | 44,447 | 43,049 |
Total Loans | 44,612 | 43,368 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9 | 1 |
Current | 482 | 460 |
Total Loans | 491 | 461 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 645 | 986 |
Current | 75,709 | 75,865 |
Total Loans | 76,354 | 76,851 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 248 | 0 |
Total Loans | 248 | 0 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Financing Receivables, 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,823 | 6,772 |
Financing Receivables, 30-59 Days Past Due [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 30-59 Days Past Due [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,858 | 4,921 |
Financing Receivables, 30-59 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 361 | 295 |
Financing Receivables, 30-59 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,367 | 951 |
Financing Receivables, 30-59 Days Past Due [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 30-59 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 319 |
Financing Receivables, 30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9 | 1 |
Financing Receivables, 30-59 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 228 | 285 |
Financing Receivables, 30-59 Days Past Due [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,662 | 2,027 |
Financing Receivables, 60-89 Days Past Due [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,222 | 1,751 |
Financing Receivables, 60-89 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 18 |
Financing Receivables, 60-89 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 96 |
Financing Receivables, 60-89 Days Past Due [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 165 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 275 | 162 |
Financing Receivables, 60-89 Days Past Due [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,466 | 4,330 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,789 | 3,092 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 218 | 234 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 183 | 332 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 134 | 133 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 142 | 539 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 0 | $ 0 |
Loans Receivable (Details 5)
Loans Receivable (Details 5) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | $ 3,996 | $ 4,996 |
Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 3,221 | 3,509 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 307 | 350 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 183 | 332 |
Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 134 | 133 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 9 | 0 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | $ 142 | $ 672 |
Loans Receivable (Details Textu
Loans Receivable (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Impaired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | $ 2,400 | $ 2,600 |
Impaired Financing Receivable, Recorded Investment, Total | 712 | 690 |
Two Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | 115 | |
Home Equity Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 69 | 0 |
Impaired Financing Receivable, Recorded Investment, Total | 69 | $ 0 |
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | $ 69 |
Foreclosed Real Estate (Details
Foreclosed Real Estate (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Real Estate Properties [Line Items] | ||
Foreclosed real estate | $ 1,432 | $ 1,699 |
Government | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 0 | 0 |
Residential real estate | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 744 | 914 |
Home equity | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 0 | 0 |
Commercial real estate | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 0 | 97 |
Construction and land development | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 468 | 468 |
Multifamily | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 0 | 0 |
Consumer | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 0 | 0 |
Commercial business | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 220 | 220 |
Farmland [Member] | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | $ 0 | $ 0 |
Goodwill, Other Intangible As42
Goodwill, Other Intangible Assets, and Acquisition Related Accounting (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | $ 2,792 | $ 2,792 | |
First Federal Acquisition [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | 2,000 | ||
Amortization of Intangible Assets | 3 | $ 804 | |
First Federal Acquisition [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion (Amortization) of Discounts and Premiums, Investments | 1,100 | ||
Accretion Expense | $ 36 | 37 | |
First Federal Acquisition [Member] | Loans Receivable [Member] | Home Equity Line of Credit [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion Amortization Of Discounts And Premiums Term | 55 months | ||
First Federal Acquisition [Member] | During 2018 [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | $ 9 | ||
First Federal Acquisition [Member] | During 2018 [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion (Amortization) of Discounts and Premiums, Investments | 123 | ||
First Federal Acquisition [Member] | During 2019 To 2021 [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | 12 | ||
Core Deposits [Member] | First Federal Acquisition [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Core Deposits, Gross | $ 93 | ||
Finite-Lived Intangible Asset, Useful Life | 7 years 10 months 24 days | ||
Liberty Savings [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | $ 804 | ||
Amortization of Intangible Assets | 15 | 15 | |
Liberty Savings [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion (Amortization) of Discounts and Premiums, Investments | $ 1,200 | ||
Accretion Amortization Of Discounts And Premiums Term | 44 months | ||
Accretion Expense | $ 68 | $ 81 | |
Liberty Savings [Member] | During 2018 [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion Expense | 196 | ||
Liberty Savings [Member] | During 2019 [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion Expense | 44 | ||
Liberty Savings [Member] | First Federal Acquisition [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | 2,800 | ||
Liberty Savings [Member] | Core Deposits [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Core Deposits, Gross | $ 471 | ||
Finite-Lived Intangible Asset, Useful Life | 8 years 2 months 12 days | ||
Amortization of Intangible Assets | $ 43 | ||
Liberty Savings [Member] | Core Deposits [Member] | During 2019 To 2021 [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | $ 58 |
Stock Based Compensation (Detai
Stock Based Compensation (Details) - Employee Stock Option [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares - Nonvested, Beginning Balance (in shares) | 30,690 | 28,465 |
Shares - Granted (in shares) | 4,433 | 4,575 |
Shares - Vested (in shares) | (3,200) | (1,625) |
Shares - Forfeited (in shares) | 0 | (725) |
Shares - Nonvested, Ending Balance (in shares) | 31,923 | 30,690 |
Weighted-Average Grant Date Fair Value - Nonvested, Beginning Balance (in dollars per share) | $ 28.51 | $ 26.67 |
Weighted-Average Grant Date Fair Value - Granted (in dollars per share) | 43.50 | 39 |
Weighted-Average Grant Date Fair Value - Vested (in dollars per share) | 21 | 25.81 |
Weighted-Average Grant Date Fair Value - Forfeited (in dollars per share) | 28.62 | |
Weighted-Average Grant Date Fair Value - Nonvested, Ending Balance (in dollars per share) | $ 31.34 | $ 28.51 |
Stock Based Compensation (Det44
Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 4,433 | 4,575 |
Allocated Share-based Compensation Expense | $ 52 | $ 47 |
Share-based Compensation Expense, Estimated for Remainder of Fiscal Year | 542 | |
Share-based Compensation Expense, Estimated for Year Two | 153 | |
Share-based Compensation Expense Estimated For Year Three | 184 | |
Share-based Compensation Expense Estimated For Year Four | 150 | |
Share-based Compensation Expense Estimated For Year Five | $ 55 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Basic earnings per common share: | ||
Net income as reported | $ 2,561 | $ 2,298 |
Weighted average common shares outstanding | 2,867,413 | 2,863,156 |
Basic earnings per common share | $ 0.89 | $ 0.8 |
Diluted earnings per common share: | ||
Net income as reported | $ 2,561 | $ 2,298 |
Weighted average common shares outstanding | 2,867,413 | 2,863,156 |
Add: Dilutive effect of assumed stock option exercises | 0 | 139 |
Weighted average common and dilutive potential common shares outstanding | 2,867,413 | 2,863,295 |
Diluted earnings per common share | $ 0.89 | $ 0.8 |
Fair Value (Details)
Fair Value (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | |
Ending balance, December 31, 2017 | $ 271 |
Additions not previously recognized | 0 |
Ending balance, March 31, 2018 | $ 271 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | ||
Other-than-temporary impairment model assumptions: | |||
Other-than-temporary impairment | $ 271,000 | $ 271,000 | |
Cusip One [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 74043CAC1 | ||
Deal name | PreTSLXXIV | ||
Class | B1 | ||
Lowest credit rating assigned | CCC | ||
Number of performing banks | 62 | ||
Number of performing insurance companies | 13 | ||
Number of issuers in default | 16 | ||
Number of issuers in deferral | 2 | ||
Defaults & deferrals as a % of performing collateral | 26.56% | ||
Subordination: | |||
As a % of performing collateral | 23.55% | ||
As a % of performing collateral - adjusted for projected future defaults | 18.67% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 2.00% | ||
Year 2 - issuer average | 2.00% | ||
Year 3 - issuer average | 2.00% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.48% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 41 | ||
Cusip Two [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 74042TAJ0 | ||
Deal name | PreTSL XXVII | ||
Class | C1 | ||
Lowest credit rating assigned | CC | ||
Number of performing banks | 33 | ||
Number of performing insurance companies | 7 | ||
Number of issuers in default | 7 | ||
Number of issuers in deferral | 2 | ||
Defaults & deferrals as a % of performing collateral | 20.06% | ||
Subordination: | |||
As a % of performing collateral | 8.35% | ||
As a % of performing collateral - adjusted for projected future defaults | 1.24% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 2.40% | ||
Year 2 - issuer average | 2.40% | ||
Year 3 - issuer average | 2.40% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.23% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 132 | ||
Cusip Three [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 01449TAB9 | ||
Deal name | Alesco IX | ||
Class | A-2A | ||
Lowest credit rating assigned | BB | ||
Number of performing banks | 63 | ||
Number of performing insurance companies | 10 | ||
Number of issuers in default | 2 | ||
Number of issuers in deferral | 1 | ||
Defaults & deferrals as a % of performing collateral | 2.93% | ||
Subordination: | |||
As a % of performing collateral | 53.11% | ||
As a % of performing collateral - adjusted for projected future defaults | 49.64% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 2.30% | ||
Year 2 - issuer average | 2.30% | ||
Year 3 - issuer average | 2.30% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.27% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 36 | ||
Cusip Four [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 01450NAC6 | ||
Deal name | Alesco XVII | ||
Class | B | ||
Lowest credit rating assigned | CCC | ||
Number of performing banks | 51 | ||
Number of issuers in default | 4 | ||
Number of issuers in deferral | 1 | ||
Defaults & deferrals as a % of performing collateral | 8.11% | ||
Subordination: | |||
As a % of performing collateral | 35.58% | ||
As a % of performing collateral - adjusted for projected future defaults | 31.69% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 1.90% | ||
Year 2 - issuer average | 1.90% | ||
Year 3 - issuer average | 1.90% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.44% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 62 | ||
[1] | Default rates > 3 years are evaluated on a issuer by issuer basis and range from 0.25% to 5.00%. | ||
[2] | Recovery assumptions are evaluated on a issuer by issuer basis and range from 0% to 15% with a five year lag. |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 241,471 | $ 244,490 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 924 | 476 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 237,092 | 240,575 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,455 | 3,439 |
Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 241,471 | 244,490 |
Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 924 | 476 |
Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 237,092 | 240,575 |
Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,455 | 3,439 |
Money market fund [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 924 | 476 |
Money market fund [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 924 | 476 |
Money market fund [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Money market fund [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Municipal securities [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 92,085 | 103,747 |
Municipal securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Municipal securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 92,085 | 103,747 |
Municipal securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 5,838 | 3,890 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 5,838 | 3,890 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 139,169 | 132,938 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 139,169 | 132,938 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,455 | 3,439 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 3,455 | $ 3,439 |
Fair Value (Details 3)
Fair Value (Details 3) - Collateralized Debt Obligations [Member] - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | $ 3,439 | $ 2,409 |
Principal payments | (12) | (154) |
Total unrealized gains, included in other comprehensive income | 28 | 1,184 |
Transfers in and/or (out) of Level 3 | 0 | 0 |
Ending balance | $ 3,455 | $ 3,439 |
Fair Value (Details 4)
Fair Value (Details 4) - Fair Value Measurements [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 1,973 | $ 1,818 |
Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,432 | 1,699 |
Fair Value, Inputs, Level 1 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,973 | 1,818 |
Fair Value, Inputs, Level 3 [Member] | Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 1,432 | $ 1,699 |
Fair Value (Details 5)
Fair Value (Details 5) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets, Carrying value: | ||
Cash and cash equivalents - Carrying Value | $ 20,415 | $ 11,025 |
Certificates of deposit in other financial institutions -Carrying Value | 1,526 | 1,676 |
Securities available-for-sale - Carrying Value | 241,471 | 244,490 |
Loans held-for-sale - Carrying Value | 1,908 | 1,592 |
Loans receivable, net - Carrying Value | 617,565 | 612,729 |
Federal Home Loan Bank stock - Carrying Value | 3,000 | 3,000 |
Accrued interest receivable - Carrying Value | 3,052 | 3,262 |
Financial liabilities, Carrying value: | ||
Non-interest bearing deposits - Carrying Value | 126,582 | 120,556 |
Interest bearing deposits - Carrying Value | 668,791 | 672,448 |
Repurchase agreements - Carrying Value | 13,396 | 11,300 |
Borrowed funds - Carrying Value | 30,360 | 20,881 |
Interest rate swap agreements - Carrying Value | 18 | |
Accrued interest payable - Carrying Value | 42 | 42 |
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 20,415 | 11,025 |
Certificates of deposit in other financial institutions - Fair Value | 1,493 | 1,640 |
Securities available-for-sale - Estimated Fair Value | 241,471 | 244,490 |
Loans held-for-sale - Estimated Fair Value | 1,949 | 1,625 |
Loans receivable, net - Estimated Fair Value | 602,764 | 608,506 |
Federal Home Loan Bank stock - Estimated Fair Value | 3,000 | 3,000 |
Accrued interest receivable - Estimated Fair Value | 3,052 | 3,262 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 126,582 | 120,556 |
Interest bearing deposits - Estimated Fair Value | 666,925 | 670,967 |
Repurchase agreements - Estimated Fair Value | 13,387 | 11,292 |
Borrowed funds - Estimated Fair Value | 30,254 | 20,818 |
Accrued interest payable - Estimated Fair Value | 42 | 42 |
Interest rate swap agreements - Estimated Fair Falue | 18 | |
Fair Value, Inputs, Level 1 [Member] | ||
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 20,415 | 11,025 |
Certificates of deposit in other financial institutions - Fair Value | 0 | 0 |
Securities available-for-sale - Estimated Fair Value | 924 | 476 |
Loans held-for-sale - Estimated Fair Value | 1,949 | 1,625 |
Loans receivable, net - Estimated Fair Value | 0 | 0 |
Federal Home Loan Bank stock - Estimated Fair Value | 0 | 0 |
Accrued interest receivable - Estimated Fair Value | 0 | 0 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 126,582 | 120,556 |
Interest bearing deposits - Estimated Fair Value | 474,069 | 488,528 |
Repurchase agreements - Estimated Fair Value | 11,642 | 9,545 |
Borrowed funds - Estimated Fair Value | 260 | 600 |
Accrued interest payable - Estimated Fair Value | 0 | 0 |
Interest rate swap agreements - Estimated Fair Falue | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 0 | 0 |
Certificates of deposit in other financial institutions - Fair Value | 1,493 | 1,640 |
Securities available-for-sale - Estimated Fair Value | 237,092 | 240,575 |
Loans held-for-sale - Estimated Fair Value | 0 | 0 |
Loans receivable, net - Estimated Fair Value | 0 | 0 |
Federal Home Loan Bank stock - Estimated Fair Value | 3,000 | 3,000 |
Accrued interest receivable - Estimated Fair Value | 3,052 | 3,262 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 0 | 0 |
Interest bearing deposits - Estimated Fair Value | 192,856 | 182,439 |
Repurchase agreements - Estimated Fair Value | 1,745 | 1,747 |
Borrowed funds - Estimated Fair Value | 29,994 | 20,218 |
Accrued interest payable - Estimated Fair Value | 42 | 42 |
Interest rate swap agreements - Estimated Fair Falue | 18 | |
Fair Value, Inputs, Level 3 [Member] | ||
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 0 | 0 |
Certificates of deposit in other financial institutions - Fair Value | 0 | 0 |
Securities available-for-sale - Estimated Fair Value | 3,455 | 3,439 |
Loans held-for-sale - Estimated Fair Value | 0 | 0 |
Loans receivable, net - Estimated Fair Value | 602,764 | 608,506 |
Federal Home Loan Bank stock - Estimated Fair Value | 0 | 0 |
Accrued interest receivable - Estimated Fair Value | 0 | 0 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 0 | 0 |
Interest bearing deposits - Estimated Fair Value | 0 | 0 |
Repurchase agreements - Estimated Fair Value | 0 | 0 |
Borrowed funds - Estimated Fair Value | 0 | 0 |
Accrued interest payable - Estimated Fair Value | 0 | $ 0 |
Interest rate swap agreements - Estimated Fair Falue | $ 0 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Values of Financial Instruments [Line Items] | ||
Minimum Percentage of Defaults Rates on Above 3 Years Issuer Average in Other than Temporary Impairment Model Assumptions | 0.25% | |
Maximum Percentage of Defaults Rates on Above 3 Years Issuer Average in Other than Temporary Impairment Model Assumptions | 5.00% | |
Minimum Percentage of Recovery Assumptions on Other than Temporary Impairment Model Assumptions | 0.00% | |
Maximum Percentage of Recovery Assumptions on Other than Temporary Impairment Model Assumptions | 15.00% | |
Available-for-sale Securities, Amortized Cost Basis | $ 3,500 | |
Unpaid Principal Balance | 2,000 | $ 2,500 |
Impaired Financing Receivable, Reserve | 59 | 704 |
Impaired Financing Receivable, Fair Value | $ 1,900 | $ 1,800 |