Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 28, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | NORTHWEST INDIANA BANCORP | |
Entity Central Index Key | 0000919864 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 3,451,797 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and non-interest bearing deposits in other financial institutions | $ 26,839 | $ 13,260 |
Interest bearing deposits in other financial institutions | 42,953 | 3,116 |
Federal funds sold | 2,150 | 763 |
Total cash and cash equivalents | 71,942 | 17,139 |
Certificates of deposit in other financial institutions | 2,170 | 2,024 |
Securities available-for-sale | 261,054 | 241,768 |
Loans held-for-sale | 4,641 | 2,863 |
Loans receivable | 904,273 | 764,400 |
Less: allowance for loan losses | (9,174) | (7,962) |
Net loans receivable | 895,099 | 756,438 |
Federal Home Loan Bank stock | 3,912 | 3,460 |
Accrued interest receivable | 3,995 | 3,632 |
Premises and equipment | 28,914 | 24,824 |
Foreclosed real estate | 1,098 | 1,627 |
Cash value of bank owned life insurance | 29,848 | 23,142 |
Goodwill | 11,109 | 8,170 |
Other assets | 16,687 | 11,071 |
Total assets | 1,330,469 | 1,096,158 |
Deposits: | ||
Non-interest bearing | 176,878 | 127,277 |
Interest bearing | 975,589 | 802,509 |
Total | 1,152,467 | 929,786 |
Repurchase agreements | 14,931 | 11,628 |
Borrowed funds | 16,000 | 43,000 |
Accrued expenses and other liabilities | 14,083 | 10,280 |
Total liabilities | 1,197,481 | 994,694 |
Stockholders' Equity: | ||
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding | ||
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued and outstanding: September 30, 2019 - 3,451,797 December 31, 2018 - 3,029,157 | ||
Additional paid-in capital | 29,589 | 11,927 |
Accumulated other comprehensive income/(loss) | 4,418 | (2,796) |
Retained earnings | 98,981 | 92,333 |
Total stockholders' equity | 132,988 | 101,464 |
Total liabilities and stockholders' equity | $ 1,330,469 | $ 1,096,158 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authoirzed (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares isssued (in shares) | 3,451,797 | 3,029,157 |
Common stock, shares outstanding (in shares) | 3,451,797 | 3,029,157 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest income: | ||||
Real estate loans | $ 9,452 | $ 7,189 | $ 27,853 | $ 19,240 |
Commercial loans | 1,654 | 1,266 | 4,989 | 3,457 |
Consumer loans | 229 | 97 | 521 | 106 |
Total loan interest | 11,335 | 8,552 | 33,363 | 22,803 |
Securities | 1,659 | 1,709 | 5,237 | 5,127 |
Other interest earning assets | 326 | 74 | 611 | 134 |
Total interest income | 13,320 | 10,335 | 39,211 | 28,064 |
Interest expense: | ||||
Deposits | 2,353 | 1,018 | 6,036 | 2,531 |
Repurchase agreements | 64 | 47 | 179 | 124 |
Borrowed funds | 108 | 254 | 402 | 682 |
Total interest expense | 2,525 | 1,319 | 6,617 | 3,337 |
Net interest income | 10,795 | 9,016 | 32,594 | 24,727 |
Provision for loan losses | 494 | 312 | 1,322 | 950 |
Net interest income after provision for loan losses | 10,301 | 8,704 | 31,272 | 23,777 |
Noninterest income: | ||||
Fees and service charges | 1,203 | 991 | 3,608 | 2,830 |
Wealth management operations | 447 | 414 | 1,426 | 1,253 |
Gain on sale of loans held-for-sale, net | 681 | 451 | 1,323 | 1,021 |
Gain on sale of securities, net | 102 | 151 | 754 | 1,155 |
Increase in cash value of bank owned life insurance | 177 | 130 | 519 | 358 |
Benefit from bank owned life insurance | 205 | 205 | ||
Gain on sale of foreclosed real estate, net | 43 | 54 | 83 | 154 |
Other | 39 | 32 | 217 | 104 |
Total noninterest income | 2,897 | 2,223 | 8,135 | 6,875 |
Noninterest expense: | ||||
Compensation and benefits | 4,932 | 4,669 | 14,333 | 12,045 |
Occupancy and equipment | 1,231 | 829 | 3,522 | 2,524 |
Data processing | 806 | 1,012 | 2,753 | 2,076 |
Marketing | 170 | 223 | 783 | 523 |
Federal deposit insurance premiums | 18 | 91 | 286 | 250 |
Other | 2,112 | 2,233 | 6,305 | 5,512 |
Total noninterest expense | 9,269 | 9,057 | 27,982 | 22,930 |
Income before income tax expenses | 3,929 | 1,870 | 11,425 | 7,722 |
Income tax expenses | 351 | 245 | 1,602 | 1,025 |
Net income | $ 3,578 | $ 1,625 | $ 9,823 | $ 6,697 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 1.04 | $ 0.54 | $ 2.88 | $ 2.29 |
Diluted (in dollars per share) | 1.04 | 0.54 | 2.88 | 2.29 |
Dividends declared per common share (in dollars per share) | $ 0.31 | $ 0.30 | $ 0.92 | $ 0.89 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 3,578 | $ 1,625 | $ 9,823 | $ 6,697 |
Net change in net unrealized gains and losses on securities available-for-sale: | ||||
Unrealized gains/(losses) arising during the period | 2,112 | (2,071) | 9,878 | (7,301) |
Less: reclassification adjustment for gains included in net income | (102) | (151) | (754) | (1,155) |
Net securities gain/(loss) during the period | 2,010 | (2,222) | 9,124 | (8,456) |
Tax effect | (422) | 467 | (1,910) | 1,780 |
Net of tax amount | 1,588 | (1,755) | 7,214 | (6,676) |
Comprehensive income/(loss), net of tax | $ 5,166 | $ (130) | $ 17,037 | $ 21 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2017 | $ 4,867 | $ 684 | $ 86,509 | $ 92,060 | |
Comprehensive income: | |||||
Net income | 6,697 | 6,697 | |||
Net unrealized loss on securities available-for- sale, net of reclassification and tax effects | (6,676) | (6,676) | |||
Comprehensive income | 21 | ||||
Net surrender value of restricted stock awards | (72) | (72) | |||
Stock-based compensation expense | 153 | 153 | |||
Issuance of shares for acquisition | 6,928 | 6,928 | |||
Cash dividends | (2,603) | (2,603) | |||
Balance at Dec. 31, 2017 | 4,867 | 684 | 86,509 | 92,060 | |
Balance at Sep. 30, 2018 | 11,876 | (5,992) | 90,603 | 96,487 | |
Balance at Jun. 30, 2018 | 4,925 | (4,237) | 89,889 | 90,577 | |
Comprehensive income: | |||||
Net income | 1,625 | 1,625 | |||
Net unrealized loss on securities available-for- sale, net of reclassification and tax effects | (1,755) | (1,755) | |||
Comprehensive income | (130) | ||||
Net surrender value of restricted stock awards | (27) | (27) | |||
Stock-based compensation expense | 50 | 50 | |||
Issuance of shares for acquisition | 6,928 | 6,928 | |||
Cash dividends | (911) | (911) | |||
Balance at Jun. 30, 2018 | 4,925 | (4,237) | 89,889 | 90,577 | |
Balance at Sep. 30, 2018 | 11,876 | (5,992) | 90,603 | 96,487 | |
Balance at Dec. 31, 2018 | 11,927 | (2,796) | 92,333 | 101,464 | |
Comprehensive income: | |||||
Net income | 9,823 | 9,823 | |||
Net unrealized loss on securities available-for- sale, net of reclassification and tax effects | 7,214 | 7,214 | |||
Comprehensive income | 17,037 | ||||
Net surrender value of restricted stock awards | (63) | (63) | |||
Stock-based compensation expense | 233 | 233 | |||
Issuance of shares for acquisition | 17,492 | 17,492 | |||
Cash dividends | (3,175) | (3,175) | |||
Balance at Dec. 31, 2018 | 11,927 | (2,796) | 92,333 | 101,464 | |
Balance at Sep. 30, 2019 | 29,589 | 4,418 | 98,981 | 132,988 | |
Balance at Jun. 30, 2019 | 29,510 | 2,830 | 96,472 | 128,812 | |
Comprehensive income: | |||||
Net income | 3,578 | 3,578 | |||
Net unrealized loss on securities available-for- sale, net of reclassification and tax effects | 1,588 | 1,588 | |||
Comprehensive income | 5,166 | ||||
Stock-based compensation expense | 79 | 79 | |||
Cash dividends | (1,069) | (1,069) | |||
Balance at Jun. 30, 2019 | 29,510 | 2,830 | 96,472 | 128,812 | |
Balance at Sep. 30, 2019 | $ 29,589 | $ 4,418 | $ 98,981 | $ 132,988 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Shares of restricted stock awards surrendered (in shares) | 629 | 1,245 | 1,658 | |
Shares issued for acquisition (in shares) | 161,875 | 416,478 | 161,875 | |
Cash dividends per share (in dollars per share) | $ 0.31 | $ 0.30 | $ 0.92 | $ 0.89 |
Shares issued per share (in dollars per share) | $ 42 | $ 42.80 | $ 42 | $ 42.80 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 9,823 | $ 6,697 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
Origination of loans for sale | (54,555) | (41,823) |
Sale of loans originated for sale | 54,123 | 39,953 |
Depreciation and amortization, net of accretion | 2,382 | 1,902 |
Amortization of mortgage servicing rights | 48 | 48 |
Stock based compensation expense | 233 | 154 |
Net surrender value of restricted stock awards | (63) | (72) |
Gain on sale of securities, net | (754) | (1,155) |
Gain on sale of loans held-for-sale, net | (1,323) | (1,021) |
Gain on sale of premises and equipment, net | (126) | |
Gain on sale of foreclosed real estate, net | (83) | (154) |
Benefit from bank owned life insurance | (205) | |
Provision for loan losses | 1,322 | 950 |
Net change in: | ||
Interest receivable | (363) | (298) |
Other assets | (1,546) | (345) |
Accrued expenses and other liabilities | 2,322 | (2,544) |
Total adjustments | 1,412 | (4,405) |
Net cash - operating activities | 11,235 | 2,292 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of certificates of deposits in other financial institutions | (146) | 1,150 |
Proceeds from maturities and pay downs of securities available-for-sale | 20,627 | 17,747 |
Proceeds from sales of securities available-for-sale | 35,859 | 29,049 |
Purchase of securities available-for-sale | (63,377) | (48,464) |
Net change in loans receivable | (52,399) | (28,385) |
Purchase of Federal Home Loan Bank Stock | 59 | (17) |
Purchase of premises and equipment, net | (2,116) | (624) |
Proceeds on sale of premises and equipment, net | 228 | |
Proceeds from sale of foreclosed real estate, net | 960 | 1,273 |
Cash and cash equivalents from acquisition activity, net | 52,195 | 18,261 |
Change in cash value of bank owned life insurance | (66) | (358) |
Net cash - investing activities | (8,176) | (10,368) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | 78,455 | (15,180) |
Proceeds from FHLB advances | 62,000 | |
Repayment of FHLB advances | (27,000) | (44,000) |
Change in other borrowed funds | 3,303 | 10,718 |
Dividends paid | (3,014) | (2,523) |
Net cash - financing activities | 51,744 | 11,015 |
Net change in cash and cash equivalents | 54,803 | 2,939 |
Cash and cash equivalents at beginning of period | 17,139 | 11,025 |
Cash and cash equivalents at end of period | 71,942 | 13,964 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 6,608 | 3,258 |
Income taxes | 1,485 | 1,080 |
Acquisition activity: | ||
Fair value of assets acquired, including cash and cash equivalents | 172,560 | 137,449 |
Value of goodwill and other intangible assets | 5,856 | 8,481 |
Fair value of liabilities assumed | 145,546 | 130,313 |
Cash paid for acquisition | 15,743 | 8,689 |
Issuance of common stock for acquisition | 17,492 | 6,928 |
Noncash activities: | ||
Transfers from loans to foreclosed real estate | $ 262 | $ 253 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 1 The consolidated financial statements include the accounts of NorthWest Indiana Bancorp (the “Bancorp” or “NWIN”), 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, Columbia Development Company, LLC, and Alliance NMTC Investment Fund, 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 not September 30, 2019 December 31, 2018, three nine September 30, 2019 2018, nine September 30, 2019 2018. nine September 30, 2019 not |
Note 2 - Use of Estimates
Note 2 - Use of Estimates | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
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. |
Note 3 - Acquisition Activity
Note 3 - Acquisition Activity | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 3 On July 26, 2018, February 20, 2018 In connection with the First Personal Merger, each First Personal stockholder holding 100 0.1246 $6.67 100 $12.12 no $42.95. The Bancorp issued a total of approximately 161,875 $8.7 July 25, 2018, $15.6 $1.8 first 19 three Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on the valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the final purchase price for the First Personal acquisition is allocated as follows: ASSETS Cash and due from banks $ 30,178 Investment securities, available for sale 2 Commercial 53,026 Residential mortgage 32,542 Consumer 9,004 Total Loans 94,572 Premises and equipment, net 5,799 FHLB stock 219 Goodwill 5,437 Core deposit intangible 3,044 Interest receivable 274 Other assets 6,405 Total assets purchased $ 145,930 Common shares issued 6,928 Cash paid 8,689 Total purchase price $ 15,617 LIABILITIES Deposits Non-interest bearing $ 14,517 NOW accounts 22,177 Savings and money market 41,852 Certificates of deposits 46,355 Total Deposits 124,901 Borrowings 4,124 Interest payable 32 Other liabilities 1,256 Total liabilities assumed $ 130,313 As part of the First Personal merger, the Bancorp acquired First Personal Statutory Trust I. NWIN guaranteed the payment of distributions on the trust preferred securities issued by First Personal Statutory Trust I. First Personal Statutory Trust I issued $4.124 May 2004. three 275 June 17, 2034. $4.124 December 17, 2018. On January 24, 2019, July 30, 2018 In connection with the AJSB Merger, each AJSB stockholder holding 100 0.2030 $7.20 100 $16.00 no $43.01. The Bancorp issued 416,478 $15.7 January 23, 2019, $33.2 September 30, 2019, $2.1 22 Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the final purchase price for the AJSB acquisition is allocated as follows: ASSETS Cash and due from banks $ 68,303 Investment securities, available for sale 3,432 Commercial 712 Residential mortgage 85,635 Multifamily 1,442 Consumer 57 Total Loans 87,846 Premises and equipment, net 3,542 FHLB stock 512 Goodwill 2,939 Core deposit intangible 2,917 Interest receivable 351 Other assets 8,939 Total assets purchased $ 178,781 Common shares issued 17,492 Cash paid 15,743 Total purchase price $ 33,235 LIABILITIES Deposits Non-interest bearing $ 24,502 NOW accounts 10,712 Savings and money market 68,875 Certificates of deposits 40,137 Total Deposits 144,226 Interest payable 50 Other liabilities 1,270 Total liabilities assumed $ 145,546 Final estimates of fair value on the date of acquisition have not one |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 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 September 30, 2019 Money market fund $ 5,771 $ - $ - $ 5,771 U.S. government sponsored entities 14,420 96 (3 ) 14,513 Collateralized mortgage obligations and residential mortgage-backed securities 138,832 1,894 (105 ) 140,621 Municipal securities 92,999 5,119 (39 ) 98,079 Collateralized debt obligations 3,448 - (1,378 ) 2,070 Total securities available-for-sale $ 255,470 $ 7,109 $ (1,525 ) $ 261,054 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2018 Money market fund $ 2,480 $ - $ - $ 2,480 U.S. government sponsored entities 7,997 28 (131 ) 7,894 Collateralized mortgage obligations and residential mortgage-backed securities 137,834 135 (2,688 ) 135,281 Municipal securities 93,516 1,072 (524 ) 94,064 Collateralized debt obligations 3,481 - (1,432 ) 2,049 Total securities available-for-sale $ 245,308 $ 1,235 $ (4,775 ) $ 241,768 The estimated fair value of available-for-sale debt securities at September 30, 2019, not (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent September 30, 2019 Value Yield (%) Due in one year or less $ 8,840 2.71 Due from one to five years 3,397 4.95 Due from five to ten years 20,270 3.71 Due over ten years 87,926 4.02 Collateralized mortgage obligations and residential mortgage-backed securities 140,621 2.70 Total $ 261,054 3.25 Sales of available-for-sale securities were as follows for the nine (Dollars in thousands) September 30, September 30, 2019 2018 Proceeds $ 35,859 $ 29,049 Gross gains 838 1,159 Gross losses (84 ) (4 ) 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, 2018 $ (2,796 ) Current period change 7,214 Ending balance, September 30, 2019 $ 4,418 Securities with carrying values of approximately $69.2 $16.3 September 30, 2019 December 31, 2018, September 30, 2019, Securities with gross unrealized losses at September 30, 2019 December 31, 2018 not (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 September 30, 2019 U.S. government sponsored entities $ 1,427 $ (3 ) $ - $ - $ 1,427 $ (3 ) Collateralized mortgage obligations and residential mortgage-backed securities 5,727 (34 ) 17,351 (71 ) 23,078 (105 ) Municipal securities 2,579 (39 ) - - 2,579 (39 ) Collateralized debt obligations - - 2,070 (1,378 ) 2,070 (1,378 ) Total temporarily impaired $ 9,733 $ (76 ) $ 19,421 $ (1,449 ) $ 29,154 $ (1,525 ) Number of securities 8 19 27 (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, 2018 U.S. government sponsored entities $ - $ - $ 3,866 $ (131 ) $ 3,866 $ (131 ) Collateralized mortgage obligations and residential mortgage-backed securities 28,388 (304 ) 89,234 (2,384 ) 117,622 (2,688 ) Municipal securities 22,678 (367 ) 3,495 (157 ) 26,173 (524 ) Collateralized debt obligations - - 2,049 (1,432 ) 2,049 (1,432 ) Total temporarily impaired $ 51,066 $ (671 ) $ 98,644 $ (4,104 ) $ 149,710 $ (4,775 ) Number of securities 52 75 127 Unrealized losses on securities have not |
Note 5 - Loans Receivable
Note 5 - Loans Receivable | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5 - Loans Receivable Loans receivable are summarized below: (Dollars in thousands) September 30, 2019 December 31, 2018 Loans secured by real estate: Residential real estate $ 298,138 $ 224,082 Home equity 49,719 45,423 Commercial real estate 282,536 253,104 Construction and land development 79,351 64,433 Multifamily 50,878 47,234 Farmland 230 240 Total loans secured by real estate 760,852 634,516 Commercial business 109,485 103,628 Consumer 763 495 Manufactured homes 12,882 4,798 Government 17,609 21,101 Subtotal 901,591 764,538 Less: Net deferred loan origination fees 2,813 530 Undisbursed loan funds (131 ) (668 ) Loans receivable $ 904,273 $ 764,400 (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 September 30, 2019: Allowance for loan losses: Residential real estate $ 1,660 $ (62 ) $ 5 $ 149 $ 1,752 Home equity 202 - 2 23 227 Commercial real estate 3,529 - - 178 3,707 Construction and land development 806 - - 188 994 Multifamily 453 - - 51 504 Farmland - - - - - Commercial business 1,517 (9 ) 8 405 1,921 Consumer 51 (13 ) 5 7 50 Manufactured homes 505 - - (505 ) - Government 21 - - (2 ) 19 Total $ 8,744 $ (84 ) $ 20 $ 494 $ 9,174 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,523 $ (30 ) $ - $ 82 $ 1,575 Home equity 183 - - 10 193 Commercial real estate 3,170 - 22 48 3,240 Construction and land development 611 - - (32 ) 579 Multifamily 607 - - (150 ) 457 Farmland 4 - - (1 ) 3 Commercial business 1,264 - 8 61 1,333 Consumer 36 (19 ) 8 298 323 Manufactured homes - - - - - Government 50 - - (4 ) 46 Total $ 7,448 $ (49 ) $ 38 $ 312 $ 7,749 (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 nine months ended September 30, 2019: Allowance for loan losses: Residential real estate $ 1,715 $ (128 ) $ 23 $ 142 $ 1,752 Home equity 202 - 4 21 $ 227 Commercial real estate 3,335 - - 372 $ 3,707 Construction and land development 756 - - 238 $ 994 Multifamily 472 - - 32 $ 504 Farmland - - - - $ - Commercial business 1,362 (9 ) 24 544 $ 1,921 Consumer 41 (38 ) 14 33 $ 50 Manufactured homes 41 - - (41 ) $ - Government 38 - - (19 ) $ 19 Total $ 7,962 $ (175 ) $ 65 $ 1,322 $ 9,174 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,568 $ (136 ) $ - $ 143 $ 1,575 Home equity 166 (24 ) - 51 193 Commercial real estate 3,125 (119 ) 24 210 3,240 Construction and land development 618 - - (39 ) 579 Multifamily 622 - - (165 ) 457 Farmland - - - 3 3 Commercial business 1,298 (529 ) 125 439 1,333 Consumer 31 (41 ) 17 316 323 Manufactured homes - - - - - Government 54 - - (8 ) 46 Total $ 7,482 $ (849 ) $ 166 $ 950 $ 7,749 The Bancorp's impairment analysis is summarized below: Ending Balances (Dollars in thousands) Individually evaluated for impairment reserves Collectively evaluated for impairment reserves Loan receivables Individually evaluated for impairment Purchased credit impaired individually evaluated for impairment Collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at September 30, 2019: Residential real estate $ 17 $ 1,735 $ 297,830 $ 628 $ 1,747 $ 295,455 Home equity 9 218 49,781 282 220 49,279 Commercial real estate 218 3,489 282,536 1,352 486 280,698 Construction and land development - 994 79,351 - - 79,351 Multifamily - 504 50,878 - 684 50,194 Farmland - - 230 - - 230 Commercial business 967 954 109,359 2,436 1,147 105,776 Consumer - 50 1,334 - - 1,334 Manufactured homes - - 15,365 - - 15,365 Government - 19 17,609 - - 17,609 Total $ 1,211 $ 7,963 $ 904,273 $ 4,698 $ 4,284 $ 895,291 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2018: Residential real estate $ 22 1,693 223,323 $ 570 $ 980 $ 221,773 Home equity 9 193 45,483 141 123 45,219 Commercial real estate 210 3,125 253,104 1,703 402 250,999 Construction and land development - 756 64,433 - - 64,433 Multifamily - 472 47,234 - - 47,234 Farmland - - 240 - - 240 Commercial business 5 1,357 103,439 423 1,440 101,576 Consumer - 82 643 - - 643 Manufactured homes - - 5,400 - - 5,400 Government - 38 21,101 - - 21,101 Total $ 246 $ 7,716 $ 764,400 $ 2,837 $ 2,945 $ 758,618 The Bancorp's credit quality indicators are summarized below at September 30, 2019 December 31, 2018: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category September 30, 2019 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 940 $ 114,219 $ 105,136 $ 13,338 $ 54,445 4,304 5,448 $ 297,830 Home equity 110 7,293 39,736 253 997 810 582 49,781 Commercial real estate 2,575 2,398 85,479 129,731 56,424 4,091 1,838 282,536 Construction and land development - 573 21,143 42,371 15,264 - - 79,351 Multifamily - 920 18,426 27,673 3,042 133 684 50,878 Farmland - - - - 230 - - 230 Commercial business 8,326 19,337 20,804 35,889 20,381 2,500 2,122 109,359 Consumer 689 3 637 - 5 - - 1,334 Manufactured homes 2,483 2,571 9,256 186 869 - - 15,365 Government - 1,889 12,560 3,160 - - - 17,609 Total $ 15,123 $ 149,203 $ 313,177 $ 252,601 $ 151,657 $ 11,838 $ 10,674 $ 904,273 December 31, 2018 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 261 $ 58,276 $ 100,374 $ 10,404 $ 44,734 $ 3,908 $ 5,366 $ 223,323 Home equity 192 3,736 40,165 37 323 657 373 45,483 Commercial real estate - 5,042 78,611 110,984 51,982 4,715 1,770 253,104 Construction and land development - 322 24,271 29,383 10,457 - - 64,433 Multifamily - 569 19,255 23,417 3,844 149 - 47,234 Farmland - - - - 240 - - 240 Commercial business 10,655 19,127 20,941 34,996 14,034 2,958 728 103,439 Consumer 202 - 441 - - - - 643 Manufactured homes 723 2,953 599 196 909 20 - 5,400 Government - 2,111 14,795 4,195 - - - 21,101 Total $ 12,033 $ 92,136 $ 299,452 $ 213,612 $ 126,523 $ 12,407 $ 8,237 $ 764,400 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 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 Borrower consistently internally generates sufficient cash flow to fund debt service, working assets, and some capital expenditures. Risk of default considered low. 3 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 may 4 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 may may three may 5 Borrower may may not 6 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 may 7 Special mention credits are considered bankable assets with no not 8 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 Performing loans are loans that are paying as agreed and are approximately less than ninety During the first nine 2019, five one $472 two one one $135 $163 not The Bancorp's individually evaluated impaired loans are summarized below: For the nine months ended As of September 30, 2019 September 30, 2019 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 2,222 $ 3,697 $ - $ 1,915 $ 55 Home equity 439 462 - 368 6 Commercial real estate 1,380 1,976 - 1,586 41 Construction and land development - - - - - Multifamily 684 766 - 525 12 Farmland - - - - - Commercial business 1,832 1,942 - 1,933 63 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate 153 153 17 158 3 Home equity 63 63 9 60 1 Commercial real estate 458 458 218 473 - Construction and land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 1,751 1,751 967 547 3 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,375 $ 3,850 $ 17 $ 2,073 $ 58 Home equity $ 502 $ 525 $ 9 $ 428 $ 7 Commercial real estate $ 1,838 $ 2,434 $ 218 $ 2,059 $ 41 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 684 $ 766 $ - $ 525 $ 12 Farmland $ - $ - $ - $ - $ - Commercial business $ 3,583 $ 3,693 $ 967 $ 2,480 $ 66 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the nine months ended As of December 31, 2018 September 30, 2018 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,389 $ 3,628 $ - $ 1,208 $ 61 Home equity 207 214 - 87 1 Commercial real estate 1,624 2,222 - 1,114 46 Construction & land development - - - 67 - Multifamily - - - - - Farmland - - - - - Commercial business 1,799 2,038 - 651 20 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate 161 161 22 114 4 Home equity 57 57 9 29 - Commercial real estate 481 481 210 280 3 Construction & land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 64 64 5 159 1 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 1,550 $ 3,789 $ 22 $ 1,322 $ 65 Home equity $ 264 $ 271 $ 9 $ 116 $ 1 Commercial real estate $ 2,105 $ 2,703 $ 210 $ 1,394 $ 49 Construction & land development $ - $ - $ - $ 67 $ - Multifamily $ - $ - $ - $ - $ - Farmland $ - $ - $ - $ - $ - Commercial business $ 1,863 $ 2,102 $ 5 $ 810 $ 21 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - The Bancorp's age analysis of past due loans is summarized below: (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Recorded Investments Greater than 90 Days Past Due and Accruing September 30, 2019 Residential real estate $ 2,179 $ 1,716 $ 4,268 $ 8,163 $ 289,667 $ 297,830 $ 318 Home equity 300 20 582 902 48,879 49,781 136 Commercial real estate 6,655 - 976 7,631 274,905 282,536 63 Construction and land development - 299 - 299 79,052 79,351 - Multifamily 282 133 31 446 50,432 50,878 31 Farmland - - - - 230 230 - Commercial business 535 133 2,186 2,854 106,505 109,359 237 Consumer - - - - 1,334 1,334 - Manufactured homes 165 128 - 293 15,072 15,365 - Government - - - - 17,609 17,609 - Total $ 10,116 $ 2,429 $ 8,043 $ 20,588 $ 883,685 $ 904,273 $ 785 December 31, 2018 Residential real estate $ 3,659 $ 909 $ 4,362 $ 8,930 $ 214,393 $ 223,323 $ 122 Home equity 143 5 304 452 45,031 45,483 50 Commercial real estate 842 18 611 1,471 251,633 253,104 - Construction and land development 491 533 - 1,024 63,409 64,433 - Multifamily - 149 - 149 47,085 47,234 - Farmland - - - - 240 240 - Commercial business 733 260 436 1,429 102,010 103,439 149 Consumer 1 - - 1 642 643 - Manufactured homes - 72 - 72 5,328 5,400 - Government - - - - 21,101 21,101 - Total $ 5,869 $ 1,946 $ 5,713 $ 13,528 $ 750,872 $ 764,400 $ 321 The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) September 30, 2019 December 31, 2018 Residential real estate $ 5,132 $ 5,135 Home equity 547 270 Commercial real estate 913 695 Construction and land development - - Multifamily 260 - Farmland - - Commercial business 1,951 495 Consumer - - Manufactured homes - - Government - - Total $ 8,803 $ 6,595 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 September 30, 2019, $6.6 $4.3 December 31, 2018, $6.0 $2.9 Accretable interest taken from the purchase credit impaired portfolio, or income recorded for the nine September 30, (dollars in thousands) First Personal 2018 $ 26 2019 118 Accretable interest taken from the purchase credit impaired portfolio, or income expected to be recorded in the future is as follows: (dollars in thousands) First Personal 2019 $ (25 ) 2020 (100 ) 2021 (25 ) Total $ (150 ) For the acquisitions of First Federal Savings & Loan (“First Federal”), Liberty Savings Bank (“Liberty Savings”), First Personal Bank (“First Personal”), and A.J. Smith Federal Savings Bank (“AJ Smith”), as part of the fair value of loans receivable, a net fair value discount was established for loans as summarized below: (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Net fair value Accretable period Net fair value Accretable period Net fair value Accretable period Net fair value Accretable period discount in months discount in months discount in months discount in months Residential real estate $ 1,062 59 $ 1,203 44 $ 948 56 $ 3,734 52 Home equity 44 29 5 29 51 50 141 32 Commercial real estate - - - - 208 56 8 9 Construction and land development - - - - 1 30 - - Multifamily - - - - 11 48 2 48 Consumer - - - - 146 50 1 5 Commercial business - - - - 348 24 - - Purchased credit impaired loans - - - - 424 32 - - Total $ 1,106 $ 1,208 $ 2,137 $ 3,886 Accretable yield, or income recorded for the nine September 30, (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total 2018 $ 105 $ 200 $ 114 $ - $ 419 2019 22 42 402 843 $ 1,309 Accretable yield, or income expected to be recorded in the future is as follows: (dollars in thousands) First Personal AJ Smith Total 2019 $ 112 $ 216 $ 328 2020 402 833 1,236 2021 341 826 1,167 2022 330 826 1,156 2023 74 341 415 Total $ 1,259 $ 3,043 $ 4,303 |
Note 6 - Foreclosed Real Estate
Note 6 - Foreclosed Real Estate | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | Note 6 - Foreclosed Real Estate Foreclosed real estate at period-end is summarized below: ( Dollars in thousands September 30, 2019 December 31, 2018 Residential real estate $ 752 $ 1,132 Commercial real estate 346 346 Construction and land development - 149 Total $ 1,098 $ 1,627 |
Note 7 - Intangibles and Acquis
Note 7 - Intangibles and Acquisition Related Accounting | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 – Intangible s and Acquisition Related Accounting The Bancorp established a goodwill balance totaling $11.1 $2.9 $5.4 $2.0 $804 not $11.1 $8.2 September 30, 2019 December 31, 2018, In addition to goodwill, a core deposit intangible of $93 7.9 $471 8.2 $3.0 6.4 $2.9 6.5 Amortization recorded for the nine September 30, (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total Current period $ 9 $ 44 $ 356 $ 299 $ 708 Amortization to be recorded in future periods, is as follows: (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total Remainder 2019 3 14 119 112 248 2020 12 58 475 449 994 2021 12 58 475 449 994 2022 1 58 475 449 983 2023 - 38 475 449 962 2024 - - 470 449 919 2025 - - - 261 261 Total $ 28 $ 226 $ 2,489 $ 2,618 $ 5,361 For the First Personal acquisition, as part of the fair value of certificates of deposit, a fair value premium was established of $133 8 $53 nine September 30, 2019. September 30, 2019. $174 14 $102 nine September 30, 2019. $38 2019 $34 2020. |
Note 8 - Concentrations of Cred
Note 8 - Concentrations of Credit Risk | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 8 - Concentrations of Credit Risk The primary lending area of the Bancorp encompasses Lake County in northwest Indiana and Cook County in northeast Illinois, where collectively 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 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. |
Note 9 - Earnings per Share
Note 9 - Earnings per Share | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 9 Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the three nine September 30, 2019 2018 Three Months Ended Nine Months Ended (Dollars in thousands, except per share data) September 30, September 30, 2019 2018 2019 2018 Basic earnings per common share: Net income as reported $ 3,578 $ 1,625 $ 9,823 $ 6,697 Weighted average common shares outstanding 3,451,797 3,029,369 3,416,045 2,922,271 Basic earnings per common share $ 1.04 $ 0.54 $ 2.88 $ 2.29 Diluted earnings per common share: - Net income as reported $ 3,578 $ 1,625 $ 9,823 $ 6,697 Weighted average common shares outstanding 3,451,797 3,029,369 3,416,045 2,922,271 Weighted average common and dilutive potential common shares outstanding 3,451,797 3,029,369 3,416,045 2,922,271 Diluted earnings per common share $ 1.04 $ 0.54 $ 2.88 $ 2.29 |
Note 10 - Stock Based Compensat
Note 10 - Stock Based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 10 The Bancorp’s 2015 February 27, 2015 April 24, 2015, 250,000 may 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 nine September 30, 2019, $233 $104 nine September 30, 2018. $478 2022 $68 2019, $242 2020, $149 2021, $19 2022. There were no first nine 2019 2018. September 30, 2019, no There were 7,407 first nine 2019 4,433 first nine 2018. three five December 31, 2018 nine September 30, 2019 Non-vested Shares Shares Weighted Non-vested at January 1, 2018 30,690 $ 28.51 Granted 4,433 43.50 Vested (7,700 ) 22.64 Forfeited - - Non-vested at December 31, 2018 27,423 $ 32.58 Non-vested at January 1, 2019 27,423 $ 32.58 Granted 7,407 43.00 Vested (4,625 ) 29.37 Forfeited - - Non-vested at September 30, 2019 30,205 $ 35.63 |
Note 11 - Change in Accounting
Note 11 - Change in Accounting Principles | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 1 1 – Change in Accounting Principles In May 2014, No. 2014 09 2015 14, Revenue from Contracts with Customers (Topic 606 605, December 31, 2018 January 1, 2018. not five not In January 2016, No. 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities December 31, 2018 January 1, 2018. not not In February 2016, No. 2016 02, Lease 840. December 31, 2019 January 1, 2019. not not |
Note 12 - Upcoming Accounting S
Note 12 - Upcoming Accounting Standards | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Note 12 In June 2016, No. 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments October 2019, December 15, 2022, December 31, 2023. first December 15, 2018, In January 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350 2 2 2, No. 2017 04, ( 1 2 not No. 2017 04 zero 2 December 31, 2020. In March 2017, 2017 08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310 20 not, December 31, 2020. |
Note 13 - Fair Value
Note 13 - Fair Value | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 1 3 - 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 may Level 1: Level 2: 1 not Level 3: 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 may 3 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 GAAP. Impairment is other-than-temporary if the decline in the fair value is below its amortized cost and it is probable that all amounts due according to the contractual terms of a debt security will not 1 2 not The Bancorp’s management utilizes a specialist to perform an other-than-temporary impairment analysis for each of its pooled trust preferred securities. The analysis is performed annually during December no December 31, 2018. December 31, 2019. 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, 2018 $ 235 Additions not previously recognized - Ending balance, September, 2019 $ 235 At September 30, 2019, $3.4 not not Assets and Liabilities Measured at Fair Value on a Recurring Basis There were no 1 2 nine September 30, 2019. Fair Value Measurements at September 30, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available-for-sale debt securities: Money market fund $ 5,771 $ 5,771 $ - $ - U.S. treasury securities - - - - U.S. government sponsored entities 14,513 - 14,513 - Collateralized mortgage obligations and residential mortgage-backed securities 140,621 - 140,621 - Municipal securities 98,079 - 98,079 - Collateralized debt obligations 2,070 - - 2,070 Total securities available-for-sale $ 261,054 $ 5,771 $ 253,213 $ 2,070 Fair Value Measurements at December 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available-for-sale debt securities: Money market fund $ 2,480 $ 2,480 $ - $ - U.S. treasury securities - - - - U.S. government sponsored entities 7,894 - 7,894 - Collateralized mortgage obligations and residential mortgage-backed securities 135,281 - 135,281 - Municipal securities 94,064 - 94,064 - Collateralized debt obligations 2,049 - - 2,049 Total securities available-for-sale $ 241,768 $ 2,480 $ 237,239 $ 2,049 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, 2018 $ 3,439 Principal payments (51 ) Total unrealized gains, included in other comprehensive income (36 ) Transfers in and/or (out) of Level 3 (1,303 ) Ending balance, December 31, 2018 $ 2,049 Beginning balance, January 1, 2019 $ 2,049 Principal payments (33 ) Total unrealized gains, included in other comprehensive income 54 Sale out of Level 3 - Ending balance, September 30, 2019 $ 2,070 Assets measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at September 30, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 7,771 $ - $ - $ 7,771 Foreclosed real estate 1,098 - - 1,098 (Dollars in thousands) Fair Value Measurements at December 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 5,536 $ - $ - $ 5,536 Foreclosed real estate 1,627 - - 1,627 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 $9.0 $1.2 $7.8 September 30, 2019. $5.8 $246 $5.5 December 31, 2018. 2 3 not 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 not September 30, 2019 Estimated Fair Value Measurements at September 30, 2019 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 71,942 $ 71,942 $ 71,942 $ - $ - Certificates of deposit in other financial institutions 2,170 2,137 - 2,137 - Securities available-for-sale 261,054 261,054 5,771 253,213 2,070 Loans held-for-sale 4,641 4,761 4,761 - - Loans receivable, net 895,099 907,899 - - 907,899 Federal Home Loan Bank stock 3,912 3,912 - 3,912 - Interest rate swap agreements 1,860 1,860 - 1,860 - Accrued interest receivable 3,995 3,995 - 3,995 - Financial liabilities: Non-interest bearing deposits 176,878 176,878 176,878 - - Interest bearing deposits 975,589 975,443 638,314 337,129 - Repurchase agreements 14,931 14,931 13,158 1,773 - Borrowed funds 16,000 16,105 - 16,105 - Interest rate swap agreements 1,860 1,860 - 1,860 - Accrued interest payable 166 166 - 166 - December 31, 2018 Estimated Fair Value Measurements at December 31, 2018 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 17,139 $ 17,139 $ 17,139 $ - $ - Certificates of deposit in other financial institutions 2,024 2,001 - 2,001 - Securities available-for-sale 241,768 241,768 2,480 237,239 2,049 Loans held-for-sale 2,863 2,910 2,910 - - Loans receivable, net 756,438 747,553 - - 747,553 Federal Home Loan Bank stock 3,460 3,460 - 3,460 - Interest rate swap agreements 196 196 - 196 Accrued interest receivable 3,632 3,632 - 3,632 - Financial liabilities: Non-interest bearing deposits 127,277 127,277 127,277 - - Interest bearing deposits 802,509 800,349 543,617 256,732 - Repurchase agreements 11,628 11,626 9,867 1,759 - Borrowed funds 43,000 42,888 - 42,888 - Interest rate swap agreements 196 196 196 Accrued interest payable 186 186 - 186 - The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the periods ended September 30, 2019 December 31, 2018: Cash and cash equivalent carrying amounts approximate fair value. Certificates of deposits in other financial institutions carrying amounts approximate fair value (Level 2 2 third 3 1 3 third 2 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 2 1 three 2 1 2 not |
Note 3 - Acquisition Activity (
Note 3 - Acquisition Activity (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
AJS Bancorp, Inc [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ASSETS Cash and due from banks $ 68,303 Investment securities, available for sale 3,432 Commercial 712 Residential mortgage 85,635 Multifamily 1,442 Consumer 57 Total Loans 87,846 Premises and equipment, net 3,542 FHLB stock 512 Goodwill 2,939 Core deposit intangible 2,917 Interest receivable 351 Other assets 8,939 Total assets purchased $ 178,781 Common shares issued 17,492 Cash paid 15,743 Total purchase price $ 33,235 LIABILITIES Deposits Non-interest bearing $ 24,502 NOW accounts 10,712 Savings and money market 68,875 Certificates of deposits 40,137 Total Deposits 144,226 Interest payable 50 Other liabilities 1,270 Total liabilities assumed $ 145,546 |
First Personal Financial Corporation [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ASSETS Cash and due from banks $ 30,178 Investment securities, available for sale 2 Commercial 53,026 Residential mortgage 32,542 Consumer 9,004 Total Loans 94,572 Premises and equipment, net 5,799 FHLB stock 219 Goodwill 5,437 Core deposit intangible 3,044 Interest receivable 274 Other assets 6,405 Total assets purchased $ 145,930 Common shares issued 6,928 Cash paid 8,689 Total purchase price $ 15,617 LIABILITIES Deposits Non-interest bearing $ 14,517 NOW accounts 22,177 Savings and money market 41,852 Certificates of deposits 46,355 Total Deposits 124,901 Borrowings 4,124 Interest payable 32 Other liabilities 1,256 Total liabilities assumed $ 130,313 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value September 30, 2019 Money market fund $ 5,771 $ - $ - $ 5,771 U.S. government sponsored entities 14,420 96 (3 ) 14,513 Collateralized mortgage obligations and residential mortgage-backed securities 138,832 1,894 (105 ) 140,621 Municipal securities 92,999 5,119 (39 ) 98,079 Collateralized debt obligations 3,448 - (1,378 ) 2,070 Total securities available-for-sale $ 255,470 $ 7,109 $ (1,525 ) $ 261,054 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2018 Money market fund $ 2,480 $ - $ - $ 2,480 U.S. government sponsored entities 7,997 28 (131 ) 7,894 Collateralized mortgage obligations and residential mortgage-backed securities 137,834 135 (2,688 ) 135,281 Municipal securities 93,516 1,072 (524 ) 94,064 Collateralized debt obligations 3,481 - (1,432 ) 2,049 Total securities available-for-sale $ 245,308 $ 1,235 $ (4,775 ) $ 241,768 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent September 30, 2019 Value Yield (%) Due in one year or less $ 8,840 2.71 Due from one to five years 3,397 4.95 Due from five to ten years 20,270 3.71 Due over ten years 87,926 4.02 Collateralized mortgage obligations and residential mortgage-backed securities 140,621 2.70 Total $ 261,054 3.25 |
Schedule of Realized Gain (Loss) [Table Text Block] | (Dollars in thousands) September 30, September 30, 2019 2018 Proceeds $ 35,859 $ 29,049 Gross gains 838 1,159 Gross losses (84 ) (4 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Unrealized Ending balance, December 31, 2018 $ (2,796 ) Current period change 7,214 Ending balance, September 30, 2019 $ 4,418 |
Unrealized Gain (Loss) on Investments [Table Text Block] | (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 September 30, 2019 U.S. government sponsored entities $ 1,427 $ (3 ) $ - $ - $ 1,427 $ (3 ) Collateralized mortgage obligations and residential mortgage-backed securities 5,727 (34 ) 17,351 (71 ) 23,078 (105 ) Municipal securities 2,579 (39 ) - - 2,579 (39 ) Collateralized debt obligations - - 2,070 (1,378 ) 2,070 (1,378 ) Total temporarily impaired $ 9,733 $ (76 ) $ 19,421 $ (1,449 ) $ 29,154 $ (1,525 ) Number of securities 8 19 27 (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, 2018 U.S. government sponsored entities $ - $ - $ 3,866 $ (131 ) $ 3,866 $ (131 ) Collateralized mortgage obligations and residential mortgage-backed securities 28,388 (304 ) 89,234 (2,384 ) 117,622 (2,688 ) Municipal securities 22,678 (367 ) 3,495 (157 ) 26,173 (524 ) Collateralized debt obligations - - 2,049 (1,432 ) 2,049 (1,432 ) Total temporarily impaired $ 51,066 $ (671 ) $ 98,644 $ (4,104 ) $ 149,710 $ (4,775 ) Number of securities 52 75 127 |
Note 5 - Loans Receivable (Tabl
Note 5 - Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (Dollars in thousands) September 30, 2019 December 31, 2018 Loans secured by real estate: Residential real estate $ 298,138 $ 224,082 Home equity 49,719 45,423 Commercial real estate 282,536 253,104 Construction and land development 79,351 64,433 Multifamily 50,878 47,234 Farmland 230 240 Total loans secured by real estate 760,852 634,516 Commercial business 109,485 103,628 Consumer 763 495 Manufactured homes 12,882 4,798 Government 17,609 21,101 Subtotal 901,591 764,538 Less: Net deferred loan origination fees 2,813 530 Undisbursed loan funds (131 ) (668 ) Loans receivable $ 904,273 $ 764,400 |
Financing Receivable, Allowance for Credit Loss [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 September 30, 2019: Allowance for loan losses: Residential real estate $ 1,660 $ (62 ) $ 5 $ 149 $ 1,752 Home equity 202 - 2 23 227 Commercial real estate 3,529 - - 178 3,707 Construction and land development 806 - - 188 994 Multifamily 453 - - 51 504 Farmland - - - - - Commercial business 1,517 (9 ) 8 405 1,921 Consumer 51 (13 ) 5 7 50 Manufactured homes 505 - - (505 ) - Government 21 - - (2 ) 19 Total $ 8,744 $ (84 ) $ 20 $ 494 $ 9,174 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,523 $ (30 ) $ - $ 82 $ 1,575 Home equity 183 - - 10 193 Commercial real estate 3,170 - 22 48 3,240 Construction and land development 611 - - (32 ) 579 Multifamily 607 - - (150 ) 457 Farmland 4 - - (1 ) 3 Commercial business 1,264 - 8 61 1,333 Consumer 36 (19 ) 8 298 323 Manufactured homes - - - - - Government 50 - - (4 ) 46 Total $ 7,448 $ (49 ) $ 38 $ 312 $ 7,749 (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 nine months ended September 30, 2019: Allowance for loan losses: Residential real estate $ 1,715 $ (128 ) $ 23 $ 142 $ 1,752 Home equity 202 - 4 21 $ 227 Commercial real estate 3,335 - - 372 $ 3,707 Construction and land development 756 - - 238 $ 994 Multifamily 472 - - 32 $ 504 Farmland - - - - $ - Commercial business 1,362 (9 ) 24 544 $ 1,921 Consumer 41 (38 ) 14 33 $ 50 Manufactured homes 41 - - (41 ) $ - Government 38 - - (19 ) $ 19 Total $ 7,962 $ (175 ) $ 65 $ 1,322 $ 9,174 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,568 $ (136 ) $ - $ 143 $ 1,575 Home equity 166 (24 ) - 51 193 Commercial real estate 3,125 (119 ) 24 210 3,240 Construction and land development 618 - - (39 ) 579 Multifamily 622 - - (165 ) 457 Farmland - - - 3 3 Commercial business 1,298 (529 ) 125 439 1,333 Consumer 31 (41 ) 17 316 323 Manufactured homes - - - - - Government 54 - - (8 ) 46 Total $ 7,482 $ (849 ) $ 166 $ 950 $ 7,749 |
Financing Receivable, Impairment Evaluation [Table Text Block] | Ending Balances (Dollars in thousands) Individually evaluated for impairment reserves Collectively evaluated for impairment reserves Loan receivables Individually evaluated for impairment Purchased credit impaired individually evaluated for impairment Collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at September 30, 2019: Residential real estate $ 17 $ 1,735 $ 297,830 $ 628 $ 1,747 $ 295,455 Home equity 9 218 49,781 282 220 49,279 Commercial real estate 218 3,489 282,536 1,352 486 280,698 Construction and land development - 994 79,351 - - 79,351 Multifamily - 504 50,878 - 684 50,194 Farmland - - 230 - - 230 Commercial business 967 954 109,359 2,436 1,147 105,776 Consumer - 50 1,334 - - 1,334 Manufactured homes - - 15,365 - - 15,365 Government - 19 17,609 - - 17,609 Total $ 1,211 $ 7,963 $ 904,273 $ 4,698 $ 4,284 $ 895,291 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2018: Residential real estate $ 22 1,693 223,323 $ 570 $ 980 $ 221,773 Home equity 9 193 45,483 141 123 45,219 Commercial real estate 210 3,125 253,104 1,703 402 250,999 Construction and land development - 756 64,433 - - 64,433 Multifamily - 472 47,234 - - 47,234 Farmland - - 240 - - 240 Commercial business 5 1,357 103,439 423 1,440 101,576 Consumer - 82 643 - - 643 Manufactured homes - - 5,400 - - 5,400 Government - 38 21,101 - - 21,101 Total $ 246 $ 7,716 $ 764,400 $ 2,837 $ 2,945 $ 758,618 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Exposure - Credit Risk Portfolio By Creditworthiness Category September 30, 2019 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 940 $ 114,219 $ 105,136 $ 13,338 $ 54,445 4,304 5,448 $ 297,830 Home equity 110 7,293 39,736 253 997 810 582 49,781 Commercial real estate 2,575 2,398 85,479 129,731 56,424 4,091 1,838 282,536 Construction and land development - 573 21,143 42,371 15,264 - - 79,351 Multifamily - 920 18,426 27,673 3,042 133 684 50,878 Farmland - - - - 230 - - 230 Commercial business 8,326 19,337 20,804 35,889 20,381 2,500 2,122 109,359 Consumer 689 3 637 - 5 - - 1,334 Manufactured homes 2,483 2,571 9,256 186 869 - - 15,365 Government - 1,889 12,560 3,160 - - - 17,609 Total $ 15,123 $ 149,203 $ 313,177 $ 252,601 $ 151,657 $ 11,838 $ 10,674 $ 904,273 December 31, 2018 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 261 $ 58,276 $ 100,374 $ 10,404 $ 44,734 $ 3,908 $ 5,366 $ 223,323 Home equity 192 3,736 40,165 37 323 657 373 45,483 Commercial real estate - 5,042 78,611 110,984 51,982 4,715 1,770 253,104 Construction and land development - 322 24,271 29,383 10,457 - - 64,433 Multifamily - 569 19,255 23,417 3,844 149 - 47,234 Farmland - - - - 240 - - 240 Commercial business 10,655 19,127 20,941 34,996 14,034 2,958 728 103,439 Consumer 202 - 441 - - - - 643 Manufactured homes 723 2,953 599 196 909 20 - 5,400 Government - 2,111 14,795 4,195 - - - 21,101 Total $ 12,033 $ 92,136 $ 299,452 $ 213,612 $ 126,523 $ 12,407 $ 8,237 $ 764,400 |
Impaired Financing Receivables [Table Text Block] | For the nine months ended As of September 30, 2019 September 30, 2019 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 2,222 $ 3,697 $ - $ 1,915 $ 55 Home equity 439 462 - 368 6 Commercial real estate 1,380 1,976 - 1,586 41 Construction and land development - - - - - Multifamily 684 766 - 525 12 Farmland - - - - - Commercial business 1,832 1,942 - 1,933 63 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate 153 153 17 158 3 Home equity 63 63 9 60 1 Commercial real estate 458 458 218 473 - Construction and land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 1,751 1,751 967 547 3 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,375 $ 3,850 $ 17 $ 2,073 $ 58 Home equity $ 502 $ 525 $ 9 $ 428 $ 7 Commercial real estate $ 1,838 $ 2,434 $ 218 $ 2,059 $ 41 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 684 $ 766 $ - $ 525 $ 12 Farmland $ - $ - $ - $ - $ - Commercial business $ 3,583 $ 3,693 $ 967 $ 2,480 $ 66 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the nine months ended As of December 31, 2018 September 30, 2018 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,389 $ 3,628 $ - $ 1,208 $ 61 Home equity 207 214 - 87 1 Commercial real estate 1,624 2,222 - 1,114 46 Construction & land development - - - 67 - Multifamily - - - - - Farmland - - - - - Commercial business 1,799 2,038 - 651 20 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate 161 161 22 114 4 Home equity 57 57 9 29 - Commercial real estate 481 481 210 280 3 Construction & land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 64 64 5 159 1 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 1,550 $ 3,789 $ 22 $ 1,322 $ 65 Home equity $ 264 $ 271 $ 9 $ 116 $ 1 Commercial real estate $ 2,105 $ 2,703 $ 210 $ 1,394 $ 49 Construction & land development $ - $ - $ - $ 67 $ - Multifamily $ - $ - $ - $ - $ - Farmland $ - $ - $ - $ - $ - Commercial business $ 1,863 $ 2,102 $ 5 $ 810 $ 21 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - |
Financing Receivable, Past Due [Table Text Block] | (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Recorded Investments Greater than 90 Days Past Due and Accruing September 30, 2019 Residential real estate $ 2,179 $ 1,716 $ 4,268 $ 8,163 $ 289,667 $ 297,830 $ 318 Home equity 300 20 582 902 48,879 49,781 136 Commercial real estate 6,655 - 976 7,631 274,905 282,536 63 Construction and land development - 299 - 299 79,052 79,351 - Multifamily 282 133 31 446 50,432 50,878 31 Farmland - - - - 230 230 - Commercial business 535 133 2,186 2,854 106,505 109,359 237 Consumer - - - - 1,334 1,334 - Manufactured homes 165 128 - 293 15,072 15,365 - Government - - - - 17,609 17,609 - Total $ 10,116 $ 2,429 $ 8,043 $ 20,588 $ 883,685 $ 904,273 $ 785 December 31, 2018 Residential real estate $ 3,659 $ 909 $ 4,362 $ 8,930 $ 214,393 $ 223,323 $ 122 Home equity 143 5 304 452 45,031 45,483 50 Commercial real estate 842 18 611 1,471 251,633 253,104 - Construction and land development 491 533 - 1,024 63,409 64,433 - Multifamily - 149 - 149 47,085 47,234 - Farmland - - - - 240 240 - Commercial business 733 260 436 1,429 102,010 103,439 149 Consumer 1 - - 1 642 643 - Manufactured homes - 72 - 72 5,328 5,400 - Government - - - - 21,101 21,101 - Total $ 5,869 $ 1,946 $ 5,713 $ 13,528 $ 750,872 $ 764,400 $ 321 |
Financing Receivable, Nonaccrual [Table Text Block] | (Dollars in thousands) September 30, 2019 December 31, 2018 Residential real estate $ 5,132 $ 5,135 Home equity 547 270 Commercial real estate 913 695 Construction and land development - - Multifamily 260 - Farmland - - Commercial business 1,951 495 Consumer - - Manufactured homes - - Government - - Total $ 8,803 $ 6,595 |
Schedule of Accretable Yield from Financing Receivables [Table Text Block] | (dollars in thousands) First Personal 2018 $ 26 2019 118 (dollars in thousands) First Personal 2019 $ (25 ) 2020 (100 ) 2021 (25 ) Total $ (150 ) (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total 2018 $ 105 $ 200 $ 114 $ - $ 419 2019 22 42 402 843 $ 1,309 (dollars in thousands) First Personal AJ Smith Total 2019 $ 112 $ 216 $ 328 2020 402 833 1,236 2021 341 826 1,167 2022 330 826 1,156 2023 74 341 415 Total $ 1,259 $ 3,043 $ 4,303 |
Schedule of Financing Receivables Acquired Discount [Table Text Block] | (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Net fair value Accretable period Net fair value Accretable period Net fair value Accretable period Net fair value Accretable period discount in months discount in months discount in months discount in months Residential real estate $ 1,062 59 $ 1,203 44 $ 948 56 $ 3,734 52 Home equity 44 29 5 29 51 50 141 32 Commercial real estate - - - - 208 56 8 9 Construction and land development - - - - 1 30 - - Multifamily - - - - 11 48 2 48 Consumer - - - - 146 50 1 5 Commercial business - - - - 348 24 - - Purchased credit impaired loans - - - - 424 32 - - Total $ 1,106 $ 1,208 $ 2,137 $ 3,886 |
Note 6 - Foreclosed Real Esta_2
Note 6 - Foreclosed Real Estate (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | ( Dollars in thousands September 30, 2019 December 31, 2018 Residential real estate $ 752 $ 1,132 Commercial real estate 346 346 Construction and land development - 149 Total $ 1,098 $ 1,627 |
Note 7 - Intangibles and Acqu_2
Note 7 - Intangibles and Acquisition Related Accounting (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total Current period $ 9 $ 44 $ 356 $ 299 $ 708 (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total Remainder 2019 3 14 119 112 248 2020 12 58 475 449 994 2021 12 58 475 449 994 2022 1 58 475 449 983 2023 - 38 475 449 962 2024 - - 470 449 919 2025 - - - 261 261 Total $ 28 $ 226 $ 2,489 $ 2,618 $ 5,361 |
Note 9 - Earnings per Share (Ta
Note 9 - Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended (Dollars in thousands, except per share data) September 30, September 30, 2019 2018 2019 2018 Basic earnings per common share: Net income as reported $ 3,578 $ 1,625 $ 9,823 $ 6,697 Weighted average common shares outstanding 3,451,797 3,029,369 3,416,045 2,922,271 Basic earnings per common share $ 1.04 $ 0.54 $ 2.88 $ 2.29 Diluted earnings per common share: - Net income as reported $ 3,578 $ 1,625 $ 9,823 $ 6,697 Weighted average common shares outstanding 3,451,797 3,029,369 3,416,045 2,922,271 Weighted average common and dilutive potential common shares outstanding 3,451,797 3,029,369 3,416,045 2,922,271 Diluted earnings per common share $ 1.04 $ 0.54 $ 2.88 $ 2.29 |
Note 10 - Stock Based Compens_2
Note 10 - Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Non-vested Shares Shares Weighted Non-vested at January 1, 2018 30,690 $ 28.51 Granted 4,433 43.50 Vested (7,700 ) 22.64 Forfeited - - Non-vested at December 31, 2018 27,423 $ 32.58 Non-vested at January 1, 2019 27,423 $ 32.58 Granted 7,407 43.00 Vested (4,625 ) 29.37 Forfeited - - Non-vested at September 30, 2019 30,205 $ 35.63 |
Note 13 - Fair Value (Tables)
Note 13 - Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | (Dollars in thousands) Collateralized debt obligations other-than-temporary impairment Ending balance, December 31, 2018 $ 235 Additions not previously recognized - Ending balance, September, 2019 $ 235 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available-for-sale debt securities: Money market fund $ 5,771 $ 5,771 $ - $ - U.S. treasury securities - - - - U.S. government sponsored entities 14,513 - 14,513 - Collateralized mortgage obligations and residential mortgage-backed securities 140,621 - 140,621 - Municipal securities 98,079 - 98,079 - Collateralized debt obligations 2,070 - - 2,070 Total securities available-for-sale $ 261,054 $ 5,771 $ 253,213 $ 2,070 Fair Value Measurements at December 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available-for-sale debt securities: Money market fund $ 2,480 $ 2,480 $ - $ - U.S. treasury securities - - - - U.S. government sponsored entities 7,894 - 7,894 - Collateralized mortgage obligations and residential mortgage-backed securities 135,281 - 135,281 - Municipal securities 94,064 - 94,064 - Collateralized debt obligations 2,049 - - 2,049 Total securities available-for-sale $ 241,768 $ 2,480 $ 237,239 $ 2,049 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (Dollars in thousands) Estimated Fair Value Available-for- Beginning balance, January 1, 2018 $ 3,439 Principal payments (51 ) Total unrealized gains, included in other comprehensive income (36 ) Transfers in and/or (out) of Level 3 (1,303 ) Ending balance, December 31, 2018 $ 2,049 Beginning balance, January 1, 2019 $ 2,049 Principal payments (33 ) Total unrealized gains, included in other comprehensive income 54 Sale out of Level 3 - Ending balance, September 30, 2019 $ 2,070 |
Fair Value Measurements, Nonrecurring [Table Text Block] | (Dollars in thousands) Fair Value Measurements at September 30, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 7,771 $ - $ - $ 7,771 Foreclosed real estate 1,098 - - 1,098 (Dollars in thousands) Fair Value Measurements at December 31, 2018 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 5,536 $ - $ - $ 5,536 Foreclosed real estate 1,627 - - 1,627 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2019 Estimated Fair Value Measurements at September 30, 2019 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 71,942 $ 71,942 $ 71,942 $ - $ - Certificates of deposit in other financial institutions 2,170 2,137 - 2,137 - Securities available-for-sale 261,054 261,054 5,771 253,213 2,070 Loans held-for-sale 4,641 4,761 4,761 - - Loans receivable, net 895,099 907,899 - - 907,899 Federal Home Loan Bank stock 3,912 3,912 - 3,912 - Interest rate swap agreements 1,860 1,860 - 1,860 - Accrued interest receivable 3,995 3,995 - 3,995 - Financial liabilities: Non-interest bearing deposits 176,878 176,878 176,878 - - Interest bearing deposits 975,589 975,443 638,314 337,129 - Repurchase agreements 14,931 14,931 13,158 1,773 - Borrowed funds 16,000 16,105 - 16,105 - Interest rate swap agreements 1,860 1,860 - 1,860 - Accrued interest payable 166 166 - 166 - December 31, 2018 Estimated Fair Value Measurements at December 31, 2018 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 17,139 $ 17,139 $ 17,139 $ - $ - Certificates of deposit in other financial institutions 2,024 2,001 - 2,001 - Securities available-for-sale 241,768 241,768 2,480 237,239 2,049 Loans held-for-sale 2,863 2,910 2,910 - - Loans receivable, net 756,438 747,553 - - 747,553 Federal Home Loan Bank stock 3,460 3,460 - 3,460 - Interest rate swap agreements 196 196 - 196 Accrued interest receivable 3,632 3,632 - 3,632 - Financial liabilities: Non-interest bearing deposits 127,277 127,277 127,277 - - Interest bearing deposits 802,509 800,349 543,617 256,732 - Repurchase agreements 11,628 11,626 9,867 1,759 - Borrowed funds 43,000 42,888 - 42,888 - Interest rate swap agreements 196 196 196 Accrued interest payable 186 186 - 186 - |
Note 3 - Acquisition Activity_2
Note 3 - Acquisition Activity (Details Textual) $ / shares in Units, $ in Thousands | Jan. 24, 2019USD ($)$ / sharesshares | Jul. 26, 2018USD ($)$ / sharesshares | Jul. 25, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 17, 2018USD ($) | May 31, 2004USD ($) |
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 15,743 | $ 8,689 | |||||
Number of Banking Centers | 19 | ||||||
First Personal Financial Corporation [Member] | |||||||
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Stockholders Holding 100 Shares or More | shares | 0.1246 | ||||||
Business Acquisition, Cash Paid Per Share of Acquired Company, Stockholders Holding 100 or More Shares | $ / shares | $ 6.67 | ||||||
Business Acquisition, Cash Paid Per Share of Acquired Company, Holding Less Than 100 Shares | $ / shares | $ 12.12 | ||||||
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Less Than 100 Shares | shares | 0 | ||||||
Business Acquisition, Fractional Shares Multiplier | $ / shares | $ 42.95 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 161,875 | ||||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 8,689 | ||||||
Business Combination, Consideration Transferred, Total | 15,617 | $ 15,600 | |||||
Business Acquisition, Transaction Costs | 1,800 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | $ 4,124 | ||||||
First Personal Financial Corporation [Member] | Trust Preferred Securities Debt [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | $ 4,124 | ||||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Debt Redeemed | $ 4,124 | ||||||
First Personal Financial Corporation [Member] | Trust Preferred Securities Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | ||||||
First Personal Financial Corporation [Member] | Minimum [Member] | |||||||
Business Acquisition, Number of Held Shares of Acquired Company | shares | 100 | ||||||
First Personal Financial Corporation [Member] | Maximum [Member] | |||||||
Business Acquisition, Number of Held Shares of Acquired Company | shares | 100 | 100 | |||||
AJS Bancorp, Inc [Member] | |||||||
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Stockholders Holding 100 Shares or More | shares | 0.203 | ||||||
Business Acquisition, Cash Paid Per Share of Acquired Company, Stockholders Holding 100 or More Shares | $ / shares | $ 7.20 | ||||||
Business Acquisition, Cash Paid Per Share of Acquired Company, Holding Less Than 100 Shares | $ / shares | $ 16 | ||||||
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Less Than 100 Shares | shares | 0 | ||||||
Business Acquisition, Fractional Shares Multiplier | $ / shares | $ 43.01 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 416,478 | ||||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 15,743 | ||||||
Business Combination, Consideration Transferred, Total | $ 33,235 | ||||||
Business Acquisition, Transaction Costs | $ 2,100 | ||||||
Number of Banking Centers | 22 | ||||||
AJS Bancorp, Inc [Member] | Minimum [Member] | |||||||
Business Acquisition, Number of Held Shares of Acquired Company | shares | 100 |
Note 3 - Acquisition Activity -
Note 3 - Acquisition Activity - Fair Value of Tangible and Intangible Assets Acquired and Liabilities Assumed From First Personal (Details) - USD ($) $ in Thousands | Jul. 26, 2018 | Jul. 25, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 |
Goodwill | $ 11,109 | $ 8,170 | |||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 15,743 | $ 8,689 | |||
First Personal Financial Corporation [Member] | |||||
Cash and due from banks | $ 30,178 | ||||
Investment securities, available for sale | 2 | ||||
Total Loans | 94,572 | ||||
Premises and equipment, net | 5,799 | ||||
FHLB stock | 219 | ||||
Goodwill | 5,437 | $ 5,400 | |||
Core deposit intangible | 3,044 | ||||
Interest receivable | 274 | ||||
Other assets | 6,405 | ||||
Total assets purchased | 145,930 | ||||
Common shares issued | 6,928 | ||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 8,689 | ||||
Total purchase price | 15,617 | $ 15,600 | |||
Total Deposits | 124,901 | ||||
Borrowings | 4,124 | ||||
Interest payable | 32 | ||||
Other liabilities | 1,256 | ||||
Total liabilities assumed | 130,313 | ||||
First Personal Financial Corporation [Member] | Commercial Loan [Member] | |||||
Total Loans | 53,026 | ||||
First Personal Financial Corporation [Member] | Residential Mortgage [Member] | |||||
Total Loans | 32,542 | ||||
First Personal Financial Corporation [Member] | Consumer Loan [Member] | |||||
Total Loans | 9,004 | ||||
First Personal Financial Corporation [Member] | Non-interest Bearing Deposit Liability [Member] | |||||
Total Deposits | 14,517 | ||||
First Personal Financial Corporation [Member] | NOW Accounts [Member] | |||||
Total Deposits | 22,177 | ||||
First Personal Financial Corporation [Member] | Savings and Money Market Deposit Liability [Member] | |||||
Total Deposits | 41,852 | ||||
First Personal Financial Corporation [Member] | Certificates of Deposit Liability [Member] | |||||
Total Deposits | $ 46,355 |
Note 3 - Acquisition Activity_3
Note 3 - Acquisition Activity - Fair Value of Tangible and Intangible Assets Acquired and Liabilities Assumed From AJSB (Details) - USD ($) $ in Thousands | Jan. 24, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 |
Goodwill | $ 11,109 | $ 8,170 | ||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 15,743 | $ 8,689 | ||
AJS Bancorp, Inc [Member] | ||||
Cash and due from banks | $ 68,303 | |||
Investment securities, available for sale | 3,432 | |||
Total Loans | 87,846 | |||
Premises and equipment, net | 3,542 | |||
FHLB stock | 512 | |||
Goodwill | 2,939 | $ 2,900 | ||
Core deposit intangible | 2,917 | |||
Interest receivable | 351 | |||
Other assets | 8,939 | |||
Total assets purchased | 178,781 | |||
Common shares issued | 17,492 | |||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 15,743 | |||
Total purchase price | 33,235 | |||
Total Deposits | 144,226 | |||
Interest payable | 50 | |||
Other liabilities | 1,270 | |||
Total liabilities assumed | 145,546 | |||
AJS Bancorp, Inc [Member] | Commercial Loan [Member] | ||||
Total Loans | 712 | |||
AJS Bancorp, Inc [Member] | Residential Mortgage [Member] | ||||
Total Loans | 85,635 | |||
AJS Bancorp, Inc [Member] | Multifamily Loan [Member] | ||||
Total Loans | 1,442 | |||
AJS Bancorp, Inc [Member] | Consumer Loan [Member] | ||||
Total Loans | 57 | |||
AJS Bancorp, Inc [Member] | Non-interest Bearing Deposit Liability [Member] | ||||
Total Deposits | 24,502 | |||
AJS Bancorp, Inc [Member] | NOW Accounts [Member] | ||||
Total Deposits | 10,712 | |||
AJS Bancorp, Inc [Member] | Savings and Money Market Deposit Liability [Member] | ||||
Total Deposits | 68,875 | |||
AJS Bancorp, Inc [Member] | Certificates of Deposit Liability [Member] | ||||
Total Deposits | $ 40,137 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 69.2 | $ 16.3 |
Note 4 - Securities - Available
Note 4 - Securities - Available for Sale Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Available for sale securities, cost basis | $ 255,470 | $ 245,308 |
Available for sale securities, gross unrealized gains | 7,109 | 1,235 |
Available for sale securities, gross unrealized losses | (1,525) | (4,775) |
Total securities available-for-sale | 261,054 | 241,768 |
Money Market Funds [Member] | ||
Available for sale securities, cost basis | 5,771 | 2,480 |
Available for sale securities, gross unrealized gains | ||
Available for sale securities, gross unrealized losses | ||
Total securities available-for-sale | 5,771 | 2,480 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available for sale securities, cost basis | 14,420 | |
Available for sale securities, gross unrealized gains | 96 | |
Available for sale securities, gross unrealized losses | (3) | |
Total securities available-for-sale | 14,513 | |
US Treasury Securities [Member] | ||
Available for sale securities, cost basis | 7,997 | |
Available for sale securities, gross unrealized gains | 28 | |
Available for sale securities, gross unrealized losses | (131) | |
Total securities available-for-sale | 7,894 | |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Available for sale securities, cost basis | 138,832 | 137,834 |
Available for sale securities, gross unrealized gains | 1,894 | 135 |
Available for sale securities, gross unrealized losses | (105) | (2,688) |
Total securities available-for-sale | 140,621 | 135,281 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, cost basis | 92,999 | 93,516 |
Available for sale securities, gross unrealized gains | 5,119 | 1,072 |
Available for sale securities, gross unrealized losses | (39) | (524) |
Total securities available-for-sale | 98,079 | 94,064 |
Collateralized Debt Obligations [Member] | ||
Available for sale securities, cost basis | 3,448 | 3,481 |
Available for sale securities, gross unrealized gains | ||
Available for sale securities, gross unrealized losses | (1,378) | (1,432) |
Total securities available-for-sale | $ 2,070 | $ 2,049 |
Note 4 - Securities - Estimated
Note 4 - Securities - Estimated Fair Value of Available for Sale Securities, by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Available for sale securities, due in one year or less, estimated fair value | $ 8,840 | |
Available for sale securities, due in one year or less, tax-equivalent yield | 2.71% | |
Available for sale securities, due from one to five years, estimated fair value | $ 3,397 | |
Available for sale securities, due from one to five years, tax-equivalent yield | 4.95% | |
Available for sale securities, due from five to ten years, estimated fair value | $ 20,270 | |
Available for sale securities, due from five to ten years, tax-equivalent yield | 3.71% | |
Available for sale securities, due over ten years, estimated fair value | $ 87,926 | |
Available for sale securities, due over ten years, tax-equivalent yield | 4.02% | |
Collateralized mortgage obligations and residential mortgage-backed securities, estimated fair value | $ 140,621 | |
Collateralized mortgage obligations and residential mortgage-backed securities, tax-equivalent yield | 2.70% | |
Total securities available-for-sale | $ 261,054 | $ 241,768 |
Available for sale securities, tax-equivalent yield | 3.25% |
Note 4 - Securities - Sales of
Note 4 - Securities - Sales of Available for Sale Securities (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Proceeds | $ 35,859 | $ 29,049 |
Gross gains | 838 | 1,159 |
Gross losses | $ (84) | $ (4) |
Note 4 - Securities - Availab_2
Note 4 - Securities - Available for Sale Securities, Accumulated Other Comprehensive Income (Loss) Balances, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Ending balance | $ (2,796) | |||
Current period change | $ 1,588 | $ (1,755) | 7,214 | $ (6,676) |
Ending balance | $ 4,418 | $ 4,418 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities with Gross Unrealized Losses Not Recognized in Income (Details) $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Estimated fair value, less than 12 months | $ 9,733 | $ 51,066 |
Unrealized losses, less than 12 months | (76) | (671) |
Estimated fair value, 12 months or longer | 19,421 | 98,644 |
Unrealized losses, 12 months or longer | (1,449) | (4,104) |
Estimated fair value, total | 29,154 | 149,710 |
Unrealized losses, total | $ (1,525) | $ (4,775) |
Unrealized losses, less than 12 months, number of securities | 8 | 52 |
Unrealized losses, 12 months or longer, number of securities | 19 | 75 |
Unrealized losses, total, number of securities | 27 | 127 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Estimated fair value, less than 12 months | $ 1,427 | |
Unrealized losses, less than 12 months | (3) | |
Estimated fair value, 12 months or longer | 3,866 | |
Unrealized losses, 12 months or longer | (131) | |
Estimated fair value, total | 1,427 | 3,866 |
Unrealized losses, total | (3) | (131) |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Estimated fair value, less than 12 months | 5,727 | 28,388 |
Unrealized losses, less than 12 months | (34) | (304) |
Estimated fair value, 12 months or longer | 17,351 | 89,234 |
Unrealized losses, 12 months or longer | (71) | (2,384) |
Estimated fair value, total | 23,078 | 117,622 |
Unrealized losses, total | (105) | (2,688) |
US States and Political Subdivisions Debt Securities [Member] | ||
Estimated fair value, less than 12 months | 2,579 | 22,678 |
Unrealized losses, less than 12 months | (39) | (367) |
Estimated fair value, 12 months or longer | 3,495 | |
Unrealized losses, 12 months or longer | (157) | |
Estimated fair value, total | 2,579 | 26,173 |
Unrealized losses, total | (39) | (524) |
Collateralized Debt Obligations [Member] | ||
Estimated fair value, less than 12 months | ||
Unrealized losses, less than 12 months | ||
Estimated fair value, 12 months or longer | 2,070 | 2,049 |
Unrealized losses, 12 months or longer | (1,378) | (1,432) |
Estimated fair value, total | 2,070 | 2,049 |
Unrealized losses, total | $ (1,378) | $ (1,432) |
Note 5 - Loans Receivable (Deta
Note 5 - Loans Receivable (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 2 | ||||
Financing Receivable, Troubled Debt Restructuring | $ 135 | $ 135 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 163 | $ 163 | 163 | $ 163 | |
Impaired Financing Receivable, Recorded Investment, Total | 9,000 | 9,000 | $ 5,800 | ||
Financial Asset Acquired with Credit Deterioration [Member] | |||||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 6,600 | 6,600 | 6,000 | ||
Impaired Financing Receivable, Recorded Investment, Total | 4,300 | $ 4,300 | 2,900 | ||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 3,693 | $ 3,693 | 2,102 | ||
Impaired Financing Receivable, Recorded Investment, Total | 3,583 | $ 3,583 | 1,863 | ||
Residential Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 3,850 | $ 3,850 | 3,789 | ||
Impaired Financing Receivable, Recorded Investment, Total | 2,375 | 2,375 | $ 1,550 | ||
Commercial Loan [Member] | |||||
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount, Total | $ 472 | $ 472 |
Note 5 - Loans Receivable - Loa
Note 5 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Total loans secured by real estate | $ 760,852 | $ 634,516 |
Total loans | 901,591 | 764,538 |
Net deferred loan origination fees | 2,813 | 530 |
Undisbursed loan funds | (131) | (668) |
Loans receivable | 904,273 | 764,400 |
Residential Portfolio Segment [Member] | ||
Total loans secured by real estate | 298,138 | 224,082 |
Loans receivable | 297,830 | 223,323 |
Home Equity Portfolio Segment [Member] | ||
Total loans secured by real estate | 49,719 | 45,423 |
Loans receivable | 49,781 | 45,483 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans secured by real estate | 282,536 | 253,104 |
Loans receivable | 282,536 | 253,104 |
Construction and Land Development Portfolio Segment [Member] | ||
Total loans secured by real estate | 79,351 | 64,433 |
Loans receivable | 79,351 | 64,433 |
Multifamily Portfolio Segment [Member] | ||
Total loans secured by real estate | 50,878 | 47,234 |
Loans receivable | 50,878 | 47,234 |
Farmland Portfolio Segment [Member] | ||
Total loans secured by real estate | 230 | 240 |
Loans receivable | 230 | 240 |
Commercial Portfolio Segment [Member] | ||
Total loans | 109,485 | 103,628 |
Loans receivable | 109,359 | 103,439 |
Consumer Portfolio Segment [Member] | ||
Total loans | 763 | 495 |
Loans receivable | 1,334 | 643 |
Manufactured Homes Portfolio Segment [Member] | ||
Total loans | 12,882 | 4,798 |
Loans receivable | 15,365 | 5,400 |
Government Portfolio Segment [Member] | ||
Total loans | 17,609 | 21,101 |
Loans receivable | $ 17,609 | $ 21,101 |
Note 5 - Loans Receivable - All
Note 5 - Loans Receivable - Allowance for Loan Losses, by Loan Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Beginning Balance | $ 8,744 | $ 7,448 | $ 7,962 | $ 7,482 |
Charge-offs | (84) | (49) | (175) | (849) |
Recoveries | 20 | 38 | 65 | 166 |
Provisions | 494 | 312 | 1,322 | 950 |
Ending Balance | 9,174 | 7,749 | 9,174 | 7,749 |
Residential Portfolio Segment [Member] | ||||
Beginning Balance | 1,660 | 1,523 | 1,715 | 1,568 |
Charge-offs | (62) | (30) | (128) | (136) |
Recoveries | 5 | 23 | ||
Provisions | 149 | 82 | 142 | 143 |
Ending Balance | 1,752 | 1,575 | 1,752 | 1,575 |
Home Equity Portfolio Segment [Member] | ||||
Beginning Balance | 202 | 183 | 202 | 166 |
Charge-offs | (24) | |||
Recoveries | 2 | 4 | ||
Provisions | 23 | 10 | 21 | 51 |
Ending Balance | 227 | 193 | 227 | 193 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning Balance | 3,529 | 3,170 | 3,335 | 3,125 |
Charge-offs | (119) | |||
Recoveries | 22 | 24 | ||
Provisions | 178 | 48 | 372 | 210 |
Ending Balance | 3,707 | 3,240 | 3,707 | 3,240 |
Construction and Land Development Portfolio Segment [Member] | ||||
Beginning Balance | 806 | 611 | 756 | 618 |
Charge-offs | ||||
Recoveries | ||||
Provisions | 188 | (32) | 238 | (39) |
Ending Balance | 994 | 579 | 994 | 579 |
Multifamily Portfolio Segment [Member] | ||||
Beginning Balance | 453 | 607 | 472 | 622 |
Charge-offs | ||||
Recoveries | ||||
Provisions | 51 | (150) | 32 | (165) |
Ending Balance | 504 | 457 | 504 | 457 |
Farmland Portfolio Segment [Member] | ||||
Beginning Balance | 4 | |||
Charge-offs | ||||
Recoveries | ||||
Provisions | (1) | 3 | ||
Ending Balance | 3 | 3 | ||
Commercial Portfolio Segment [Member] | ||||
Beginning Balance | 1,517 | 1,264 | 1,362 | 1,298 |
Charge-offs | (9) | (9) | (529) | |
Recoveries | 8 | 8 | 24 | 125 |
Provisions | 405 | 61 | 544 | 439 |
Ending Balance | 1,921 | 1,333 | 1,921 | 1,333 |
Consumer Portfolio Segment [Member] | ||||
Beginning Balance | 51 | 36 | 41 | 31 |
Charge-offs | (13) | (19) | (38) | (41) |
Recoveries | 5 | 8 | 14 | 17 |
Provisions | 7 | 298 | 33 | 316 |
Ending Balance | 50 | 323 | 50 | 323 |
Manufactured Homes Portfolio Segment [Member] | ||||
Beginning Balance | 505 | 41 | ||
Charge-offs | ||||
Recoveries | ||||
Provisions | (505) | (41) | ||
Ending Balance | ||||
Government Portfolio Segment [Member] | ||||
Beginning Balance | 21 | 50 | 38 | 54 |
Charge-offs | ||||
Recoveries | ||||
Provisions | (2) | (4) | (19) | (8) |
Ending Balance | $ 19 | $ 46 | $ 19 | $ 46 |
Note 5 - Loans Receivable - Imp
Note 5 - Loans Receivable - Impairment Analysis (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Allowance individually evaluated for impairment reserves | $ 1,211,000 | $ 246,000 |
Allowance collectively evaluated for impairment reserves | 7,963,000 | 7,716,000 |
Loans receivable | 904,273,000 | 764,400,000 |
Loans receivable individually evaluated for impairment | 4,698,000 | 2,837,000 |
Loans receivable purchased credit impaired individually evaluated for impairment | 4,284,000 | 2,945,000 |
Loans receivable collectively evaluated for impairment | 895,291,000 | 758,618,000 |
Residential Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 17,000 | 22,000 |
Allowance collectively evaluated for impairment reserves | 1,735,000 | 1,693,000 |
Loans receivable | 297,830,000 | 223,323,000 |
Loans receivable individually evaluated for impairment | 628,000 | 570,000 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,747,000 | 980,000 |
Loans receivable collectively evaluated for impairment | 295,455,000 | 221,773,000 |
Home Equity Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 9,000 | 9,000 |
Allowance collectively evaluated for impairment reserves | 218,000 | 193,000 |
Loans receivable | 49,781,000 | 45,483,000 |
Loans receivable individually evaluated for impairment | 282,000 | 141,000 |
Loans receivable purchased credit impaired individually evaluated for impairment | 220,000 | 123,000 |
Loans receivable collectively evaluated for impairment | 49,279,000 | 45,219,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 218,000 | 210,000 |
Allowance collectively evaluated for impairment reserves | 3,489,000 | 3,125,000 |
Loans receivable | 282,536,000 | 253,104,000 |
Loans receivable individually evaluated for impairment | 1,352,000 | 1,703,000 |
Loans receivable purchased credit impaired individually evaluated for impairment | 486,000 | 402,000 |
Loans receivable collectively evaluated for impairment | 280,698,000 | 250,999,000 |
Construction and Land Development Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | ||
Allowance collectively evaluated for impairment reserves | 994,000 | 756,000 |
Loans receivable | 79,351,000 | 64,433,000 |
Loans receivable individually evaluated for impairment | ||
Loans receivable purchased credit impaired individually evaluated for impairment | ||
Loans receivable collectively evaluated for impairment | 79,351,000 | 64,433,000 |
Multifamily Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | ||
Allowance collectively evaluated for impairment reserves | 504,000 | 472,000 |
Loans receivable | 50,878,000 | 47,234,000 |
Loans receivable individually evaluated for impairment | ||
Loans receivable purchased credit impaired individually evaluated for impairment | 684,000 | |
Loans receivable collectively evaluated for impairment | 50,194,000 | 47,234,000 |
Farmland Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | ||
Allowance collectively evaluated for impairment reserves | ||
Loans receivable | 230,000 | 240,000 |
Loans receivable individually evaluated for impairment | ||
Loans receivable purchased credit impaired individually evaluated for impairment | ||
Loans receivable collectively evaluated for impairment | 230,000 | 240,000 |
Commercial Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 967,000 | 5,000 |
Allowance collectively evaluated for impairment reserves | 954,000 | 1,357,000 |
Loans receivable | 109,359,000 | 103,439,000 |
Loans receivable individually evaluated for impairment | 2,436,000 | 423,000 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,147,000 | 1,440,000 |
Loans receivable collectively evaluated for impairment | 105,776,000 | 101,576,000 |
Consumer Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | ||
Allowance collectively evaluated for impairment reserves | 50,000 | 82,000 |
Loans receivable | 1,334,000 | 643,000 |
Loans receivable individually evaluated for impairment | ||
Loans receivable purchased credit impaired individually evaluated for impairment | ||
Loans receivable collectively evaluated for impairment | 1,334,000 | 643,000 |
Manufactured Homes Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | ||
Allowance collectively evaluated for impairment reserves | ||
Loans receivable | 15,365,000 | 5,400,000 |
Loans receivable individually evaluated for impairment | ||
Loans receivable purchased credit impaired individually evaluated for impairment | ||
Loans receivable collectively evaluated for impairment | 15,365,000 | 5,400 |
Government Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | ||
Allowance collectively evaluated for impairment reserves | 19,000 | 38,000 |
Loans receivable | 17,609,000 | 21,101,000 |
Loans receivable individually evaluated for impairment | ||
Loans receivable purchased credit impaired individually evaluated for impairment | ||
Loans receivable collectively evaluated for impairment | $ 17,609,000 | $ 21,101,000 |
Note 5 - Loans Receivable - Cre
Note 5 - Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loan Receivable | $ 904,273 | $ 764,400 |
Moderate [Member] | ||
Loan Receivable | 15,123 | 12,033 |
Above Average Acceptable [Member] | ||
Loan Receivable | 149,203 | 92,136 |
Acceptable [Member] | ||
Loan Receivable | 313,177 | 299,452 |
Marginally Acceptable [Member] | ||
Loan Receivable | 252,601 | 213,612 |
Pass [Member] | ||
Loan Receivable | 151,657 | 126,523 |
Special Mention [Member] | ||
Loan Receivable | 11,838 | 12,407 |
Substandard [Member] | ||
Loan Receivable | 10,674 | 8,237 |
Residential Portfolio Segment [Member] | ||
Loan Receivable | 297,830 | 223,323 |
Residential Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 940 | 261 |
Residential Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 114,219 | 58,276 |
Residential Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 105,136 | 100,374 |
Residential Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 13,338 | 10,404 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 54,445 | 44,734 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 4,304 | 3,908 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 5,448 | 5,366 |
Home Equity Portfolio Segment [Member] | ||
Loan Receivable | 49,781 | 45,483 |
Home Equity Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 110 | 192 |
Home Equity Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 7,293 | 3,736 |
Home Equity Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 39,736 | 40,165 |
Home Equity Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 253 | 37 |
Home Equity Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 997 | 323 |
Home Equity Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 810 | 657 |
Home Equity Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 582 | 373 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan Receivable | 282,536 | 253,104 |
Commercial Real Estate Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 2,575 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 2,398 | 5,042 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 85,479 | 78,611 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 129,731 | 110,984 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 56,424 | 51,982 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 4,091 | 4,715 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 1,838 | 1,770 |
Construction and Land Development Portfolio Segment [Member] | ||
Loan Receivable | 79,351 | 64,433 |
Construction and Land Development Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | ||
Construction and Land Development Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 573 | 322 |
Construction and Land Development Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 21,143 | 24,271 |
Construction and Land Development Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 42,371 | 29,383 |
Construction and Land Development Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 15,264 | 10,457 |
Construction and Land Development Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | ||
Construction and Land Development Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | ||
Multifamily Portfolio Segment [Member] | ||
Loan Receivable | 50,878 | 47,234 |
Multifamily Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | ||
Multifamily Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 920 | 569 |
Multifamily Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 18,426 | 19,255 |
Multifamily Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 27,673 | 23,417 |
Multifamily Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 3,042 | 3,844 |
Multifamily Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 133 | 149 |
Multifamily Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 684 | |
Farmland Portfolio Segment [Member] | ||
Loan Receivable | 230 | 240 |
Farmland Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | ||
Farmland Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | ||
Farmland Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | ||
Farmland Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | ||
Farmland Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 230 | 240 |
Farmland Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | ||
Farmland Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | ||
Commercial Portfolio Segment [Member] | ||
Loan Receivable | 109,359 | 103,439 |
Commercial Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 8,326 | 10,655 |
Commercial Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 19,337 | 19,127 |
Commercial Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 20,804 | 20,941 |
Commercial Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 35,889 | 34,996 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 20,381 | 14,034 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 2,500 | 2,958 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 2,122 | 728 |
Consumer Portfolio Segment [Member] | ||
Loan Receivable | 1,334 | 643 |
Consumer Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 689 | 202 |
Consumer Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 3 | |
Consumer Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 637 | 441 |
Consumer Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | ||
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 5 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | ||
Manufactured Homes Portfolio Segment [Member] | ||
Loan Receivable | 15,365 | 5,400 |
Manufactured Homes Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 2,483 | 723 |
Manufactured Homes Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 2,571 | 2,953 |
Manufactured Homes Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 9,256 | 599 |
Manufactured Homes Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 186 | 196 |
Manufactured Homes Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 869 | 909 |
Manufactured Homes Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 20 | |
Manufactured Homes Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | ||
Government Portfolio Segment [Member] | ||
Loan Receivable | 17,609 | 21,101 |
Government Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | ||
Government Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 1,889 | 2,111 |
Government Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 12,560 | 14,795 |
Government Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 3,160 | 4,195 |
Government Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | ||
Government Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | ||
Government Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable |
Note 5 - Loans Receivable - Ind
Note 5 - Loans Receivable - Individually Evaluated Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Impaired Financing Receivable, Related Allowance | $ 1,200 | $ 246 | |
Total, recorded investment | 9,000 | 5,800 | |
Residential Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 2,222 | 1,389 | |
With no related allowance recorded, unpaid principal balance | 3,697 | 3,628 | |
With no related allowance recorded, average recorded investment | 1,915 | $ 1,208 | |
With no related allowance recorded, interest income recognized | 55 | 61 | |
With an allowance recorded, recorded investment | 153 | 161 | |
With an allowance recorded, unpaid principal balance | 153 | 161 | |
Impaired Financing Receivable, Related Allowance | 17 | 22 | |
With an allowance recorded, average recorded investment | 158 | 114 | |
With an allowance recorded, interest income recognized | 3 | 4 | |
Total, recorded investment | 2,375 | 1,550 | |
Total, unpaid principal balance | 3,850 | 3,789 | |
Total, average recorded investment | 2,073 | 1,322 | |
Total, interest income recognized | 58 | 65 | |
Home Equity Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 439 | 207 | |
With no related allowance recorded, unpaid principal balance | 462 | 214 | |
With no related allowance recorded, average recorded investment | 368 | 87 | |
With no related allowance recorded, interest income recognized | 6 | 1 | |
With an allowance recorded, recorded investment | 63 | 57 | |
With an allowance recorded, unpaid principal balance | 63 | 57 | |
Impaired Financing Receivable, Related Allowance | 9 | 9 | |
With an allowance recorded, average recorded investment | 60 | 29 | |
With an allowance recorded, interest income recognized | 1 | ||
Total, recorded investment | 502 | 264 | |
Total, unpaid principal balance | 525 | 271 | |
Total, average recorded investment | 428 | 116 | |
Total, interest income recognized | 7 | 1 | |
Commercial Real Estate Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 1,380 | 1,624 | |
With no related allowance recorded, unpaid principal balance | 1,976 | 2,222 | |
With no related allowance recorded, average recorded investment | 1,586 | 1,114 | |
With no related allowance recorded, interest income recognized | 41 | 46 | |
With an allowance recorded, recorded investment | 458 | 481 | |
With an allowance recorded, unpaid principal balance | 458 | 481 | |
Impaired Financing Receivable, Related Allowance | 218 | 210 | |
With an allowance recorded, average recorded investment | 473 | 280 | |
With an allowance recorded, interest income recognized | 3 | ||
Total, recorded investment | 1,838 | 2,105 | |
Total, unpaid principal balance | 2,434 | 2,703 | |
Total, average recorded investment | 2,059 | 1,394 | |
Total, interest income recognized | 41 | 49 | |
Construction and Land Development Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | |||
With no related allowance recorded, unpaid principal balance | |||
With no related allowance recorded, average recorded investment | 67 | ||
With no related allowance recorded, interest income recognized | |||
With an allowance recorded, recorded investment | |||
With an allowance recorded, unpaid principal balance | |||
Impaired Financing Receivable, Related Allowance | |||
With an allowance recorded, average recorded investment | |||
With an allowance recorded, interest income recognized | |||
Total, recorded investment | |||
Total, unpaid principal balance | |||
Total, average recorded investment | 67 | ||
Total, interest income recognized | |||
Multifamily Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 684 | ||
With no related allowance recorded, unpaid principal balance | 766 | ||
With no related allowance recorded, average recorded investment | 525 | ||
With no related allowance recorded, interest income recognized | 12 | ||
With an allowance recorded, recorded investment | |||
With an allowance recorded, unpaid principal balance | |||
Impaired Financing Receivable, Related Allowance | |||
With an allowance recorded, average recorded investment | |||
With an allowance recorded, interest income recognized | |||
Total, recorded investment | 684 | ||
Total, unpaid principal balance | 766 | ||
Total, average recorded investment | 525 | ||
Total, interest income recognized | 12 | ||
Farmland Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | |||
With no related allowance recorded, unpaid principal balance | |||
With no related allowance recorded, average recorded investment | |||
With no related allowance recorded, interest income recognized | |||
With an allowance recorded, recorded investment | |||
With an allowance recorded, unpaid principal balance | |||
Impaired Financing Receivable, Related Allowance | |||
With an allowance recorded, average recorded investment | |||
With an allowance recorded, interest income recognized | |||
Total, recorded investment | |||
Total, unpaid principal balance | |||
Total, average recorded investment | |||
Total, interest income recognized | |||
Commercial Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 1,832 | 1,799 | |
With no related allowance recorded, unpaid principal balance | 1,942 | 2,038 | |
With no related allowance recorded, average recorded investment | 1,933 | 651 | |
With no related allowance recorded, interest income recognized | 63 | 20 | |
With an allowance recorded, recorded investment | 1,751 | 64 | |
With an allowance recorded, unpaid principal balance | 1,751 | 64 | |
Impaired Financing Receivable, Related Allowance | 967 | 5 | |
With an allowance recorded, average recorded investment | 547 | 159 | |
With an allowance recorded, interest income recognized | 3 | 1 | |
Total, recorded investment | 3,583 | 1,863 | |
Total, unpaid principal balance | 3,693 | 2,102 | |
Total, average recorded investment | 2,480 | 810 | |
Total, interest income recognized | 66 | 21 | |
Consumer Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | |||
With no related allowance recorded, unpaid principal balance | |||
With no related allowance recorded, average recorded investment | |||
With no related allowance recorded, interest income recognized | |||
With an allowance recorded, recorded investment | |||
With an allowance recorded, unpaid principal balance | |||
Impaired Financing Receivable, Related Allowance | |||
With an allowance recorded, average recorded investment | |||
With an allowance recorded, interest income recognized | |||
Total, recorded investment | |||
Total, unpaid principal balance | |||
Total, average recorded investment | |||
Total, interest income recognized | |||
Manufactured Homes Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | |||
With no related allowance recorded, unpaid principal balance | |||
With no related allowance recorded, average recorded investment | |||
With no related allowance recorded, interest income recognized | |||
With an allowance recorded, recorded investment | |||
With an allowance recorded, unpaid principal balance | |||
Impaired Financing Receivable, Related Allowance | |||
With an allowance recorded, average recorded investment | |||
With an allowance recorded, interest income recognized | |||
Total, recorded investment | |||
Total, unpaid principal balance | |||
Total, average recorded investment | |||
Total, interest income recognized | |||
Government Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | |||
With no related allowance recorded, unpaid principal balance | |||
With no related allowance recorded, average recorded investment | |||
With no related allowance recorded, interest income recognized | |||
With an allowance recorded, recorded investment | |||
With an allowance recorded, unpaid principal balance | |||
Impaired Financing Receivable, Related Allowance | |||
With an allowance recorded, average recorded investment | |||
With an allowance recorded, interest income recognized | |||
Total, recorded investment | |||
Total, unpaid principal balance | |||
Total, average recorded investment | |||
Total, interest income recognized |
Note 5 - Loans Receivable - Age
Note 5 - Loans Receivable - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Total Past Due | $ 20,588 | $ 13,528 |
Current | 883,685 | 750,872 |
Total Loans | 904,273 | 764,400 |
Recorded investments greater than 90 past due and still accruing | 785 | 321 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 10,116 | 5,869 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 2,429 | 1,946 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 8,043 | 5,713 |
Residential Portfolio Segment [Member] | ||
Total Past Due | 8,163 | 8,930 |
Current | 289,667 | 214,393 |
Total Loans | 297,830 | 223,323 |
Recorded investments greater than 90 past due and still accruing | 318 | 122 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 2,179 | 3,659 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 1,716 | 909 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 4,268 | 4,362 |
Home Equity Portfolio Segment [Member] | ||
Total Past Due | 902 | 452 |
Current | 48,879 | 45,031 |
Total Loans | 49,781 | 45,483 |
Recorded investments greater than 90 past due and still accruing | 136 | 50 |
Home Equity Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 300 | 143 |
Home Equity Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 20 | 5 |
Home Equity Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 582 | 304 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total Past Due | 7,631 | 1,471 |
Current | 274,905 | 251,633 |
Total Loans | 282,536 | 253,104 |
Recorded investments greater than 90 past due and still accruing | 63 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 6,655 | 842 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 18 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 976 | 611 |
Construction and Land Development Portfolio Segment [Member] | ||
Total Past Due | 299 | 1,024 |
Current | 79,052 | 63,409 |
Total Loans | 79,351 | 64,433 |
Recorded investments greater than 90 past due and still accruing | ||
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 491 | |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 299 | 533 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | ||
Multifamily Portfolio Segment [Member] | ||
Total Past Due | 446 | 149 |
Current | 50,432 | 47,085 |
Total Loans | 50,878 | 47,234 |
Recorded investments greater than 90 past due and still accruing | 31 | |
Multifamily Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 282 | |
Multifamily Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 133 | 149 |
Multifamily Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 31 | |
Farmland Portfolio Segment [Member] | ||
Total Past Due | ||
Current | 230 | 240 |
Total Loans | 230 | 240 |
Recorded investments greater than 90 past due and still accruing | ||
Farmland Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | ||
Farmland Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | ||
Farmland Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | ||
Commercial Portfolio Segment [Member] | ||
Total Past Due | 2,854 | 1,429 |
Current | 106,505 | 102,010 |
Total Loans | 109,359 | 103,439 |
Recorded investments greater than 90 past due and still accruing | 237 | 149 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 535 | 733 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 133 | 260 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 2,186 | 436 |
Consumer Portfolio Segment [Member] | ||
Total Past Due | 1 | |
Current | 1,334 | 642 |
Total Loans | 1,334 | 643 |
Recorded investments greater than 90 past due and still accruing | ||
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 1 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | ||
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | ||
Manufactured Homes Portfolio Segment [Member] | ||
Total Past Due | 293 | 72 |
Current | 15,072 | 5,328 |
Total Loans | 15,365 | 5,400 |
Recorded investments greater than 90 past due and still accruing | ||
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 165 | |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 128 | 72 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | ||
Government Portfolio Segment [Member] | ||
Total Past Due | ||
Current | 17,609 | 21,101 |
Total Loans | 17,609 | 21,101 |
Recorded investments greater than 90 past due and still accruing | ||
Government Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | ||
Government Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | ||
Government Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due |
Note 5 - Loans Receivable - L_2
Note 5 - Loans Receivable - Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Financing receivables on nonaccrual status | $ 8,803 | $ 6,595 |
Residential Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 5,132 | 5,135 |
Home Equity Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 547 | 270 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 913 | 695 |
Construction and Land Development Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | ||
Multifamily Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 260 | |
Farmland Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | ||
Commercial Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 1,951 | 495 |
Consumer Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | ||
Manufactured Homes Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | ||
Government Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status |
Note 5 - Loans Receivable - Acc
Note 5 - Loans Receivable - Accretable Yield (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
2018 | $ 419 |
2019 | 1,309 |
First Personal Financial Corporation [Member] | |
2018 | 114 |
2019 | 402 |
2019 | 328 |
2020 | 1,236 |
2021 | 1,167 |
Total | 4,303 |
2022 | 1,156 |
2023 | 415 |
First Personal Financial Corporation [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |
2018 | 26 |
2019 | 118 |
2019 | (25) |
2020 | (100) |
2021 | (25) |
Total | (150) |
First Federal Savings and Loan [Member] | |
2018 | 105 |
2019 | 22 |
2019 | 112 |
2020 | 402 |
2021 | 341 |
Total | 1,259 |
2022 | 330 |
2023 | 74 |
Liberty Savings Bank [Member] | |
2018 | 200 |
2019 | 42 |
2019 | 216 |
2020 | 833 |
2021 | 826 |
Total | 3,043 |
2022 | 826 |
2023 | 341 |
AJS Bancorp, Inc [Member] | |
2018 | |
2019 | $ 843 |
Note 5 - Loans Receivable - Net
Note 5 - Loans Receivable - Net Fair Value Discount on Loans Receivable Acquired (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
First Federal Savings and Loan [Member] | |
Net fair value discount | $ 1,106 |
Accretable period in months (Month) | |
First Federal Savings and Loan [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Liberty Savings Bank [Member] | |
Net fair value discount | $ 1,208 |
Accretable period in months (Month) | |
Liberty Savings Bank [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
First Personal Financial Corporation [Member] | |
Net fair value discount | $ 2,137 |
Accretable period in months (Month) | |
First Personal Financial Corporation [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | $ 424 |
Accretable period in months (Month) | 2 years 240 days |
AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 3,886 |
Accretable period in months (Month) | |
AJS Bancorp, Inc [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Residential Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 1,062 |
Accretable period in months (Month) | 4 years 330 days |
Residential Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | $ 1,203 |
Accretable period in months (Month) | 3 years 240 days |
Residential Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 948 |
Accretable period in months (Month) | 4 years 240 days |
Residential Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 3,734 |
Accretable period in months (Month) | 4 years 120 days |
Home Equity Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 44 |
Accretable period in months (Month) | 2 years 150 days |
Home Equity Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | $ 5 |
Accretable period in months (Month) | 2 years 150 days |
Home Equity Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 51 |
Accretable period in months (Month) | 4 years 60 days |
Home Equity Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 141 |
Accretable period in months (Month) | 2 years 240 days |
Commercial Real Estate Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Commercial Real Estate Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Commercial Real Estate Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 208 |
Accretable period in months (Month) | 4 years 240 days |
Commercial Real Estate Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 8 |
Accretable period in months (Month) | 270 days |
Construction and Land Development Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Construction and Land Development Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Construction and Land Development Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 1 |
Accretable period in months (Month) | 2 years 180 days |
Construction and Land Development Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Multifamily Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Multifamily Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Multifamily Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 11 |
Accretable period in months (Month) | 4 years |
Multifamily Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 2 |
Accretable period in months (Month) | 4 years |
Consumer Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Consumer Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Consumer Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 146 |
Accretable period in months (Month) | 4 years 60 days |
Consumer Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 1 |
Accretable period in months (Month) | 150 days |
Commercial Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Commercial Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | |
Accretable period in months (Month) | |
Commercial Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 348 |
Accretable period in months (Month) | 2 years |
Commercial Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | |
Accretable period in months (Month) |
Note 6 - Foreclosed Real Esta_3
Note 6 - Foreclosed Real Estate - Foreclosed Real Estate (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Foreclosed real estate | $ 1,098 | $ 1,627 |
Residential Portfolio Segment [Member] | ||
Foreclosed real estate | 752 | 1,132 |
Commercial Real Estate Portfolio Segment [Member] | ||
Foreclosed real estate | 346 | 346 |
Construction and Land Development Portfolio Segment [Member] | ||
Foreclosed real estate | $ 149 |
Note 7 - Intangibles and Acqu_3
Note 7 - Intangibles and Acquisition Related Accounting (Details Textual) - USD ($) $ in Thousands | Jan. 24, 2019 | Jul. 26, 2018 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2018 |
Goodwill, Ending Balance | $ 11,109 | $ 8,170 | ||||
Goodwill, Impairment Loss | 0 | |||||
AJS Bancorp, Inc [Member] | ||||||
Goodwill, Ending Balance | $ 2,939 | 2,900 | ||||
Certificates of Deposit, Fair Value Premium | $ 174 | |||||
Certificates of Deposit, Fair Value Premium, Amortization Period | 14 years | |||||
Accretion (Amortization) of Discounts and Premiums, Investments | 102 | |||||
AJS Bancorp, Inc [Member] | Forecast [Member] | ||||||
Accretion (Amortization) of Discounts and Premiums, Investments | $ 38 | $ 34 | ||||
AJS Bancorp, Inc [Member] | Core Deposits [Member] | ||||||
Finite-Lived Core Deposits, Gross | $ 2,900 | |||||
Finite-Lived Intangible Asset, Useful Life | 6 years 182 days | |||||
First Personal Financial Corporation [Member] | ||||||
Goodwill, Ending Balance | $ 5,437 | $ 5,400 | ||||
Certificates of Deposit, Fair Value Premium | $ 133 | |||||
Certificates of Deposit, Fair Value Premium, Amortization Period | 240 days | |||||
Accretion (Amortization) of Discounts and Premiums, Investments | 53 | |||||
First Personal Financial Corporation [Member] | Core Deposits [Member] | ||||||
Finite-Lived Core Deposits, Gross | $ 3,000 | |||||
Finite-Lived Intangible Asset, Useful Life | 6 years 146 days | |||||
First Federal Savings and Loan [Member] | ||||||
Goodwill, Ending Balance | $ 2,000 | |||||
First Federal Savings and Loan [Member] | Core Deposits [Member] | ||||||
Finite-Lived Core Deposits, Gross | $ 93 | |||||
Finite-Lived Intangible Asset, Useful Life | 7 years 328 days | |||||
Liberty Savings Bank [Member] | ||||||
Goodwill, Ending Balance | $ 804 | |||||
Liberty Savings Bank [Member] | Core Deposits [Member] | ||||||
Finite-Lived Core Deposits, Gross | $ 471 | |||||
Finite-Lived Intangible Asset, Useful Life | 8 years 73 days |
Note 7 - Intangibles and Acqu_4
Note 7 - Intangibles and Acquisition Related Accounting - Schedule of Annual Amortization (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Current period | $ 708 |
Core Deposits [Member] | |
Remainder 2019 | 248 |
2020 | 994 |
2021 | 994 |
2022 | 983 |
2023 | 962 |
2024 | 919 |
2025 | 261 |
Total | 5,361 |
First Federal Savings and Loan [Member] | |
Current period | 9 |
First Federal Savings and Loan [Member] | Core Deposits [Member] | |
Remainder 2019 | 3 |
2020 | 12 |
2021 | 12 |
2022 | 1 |
2023 | |
2024 | |
2025 | |
Total | 28 |
Liberty Savings Bank [Member] | |
Current period | 44 |
Liberty Savings Bank [Member] | Core Deposits [Member] | |
Remainder 2019 | 14 |
2020 | 58 |
2021 | 58 |
2022 | 58 |
2023 | 38 |
2024 | |
2025 | |
Total | 226 |
First Personal Financial Corporation [Member] | |
Current period | 356 |
First Personal Financial Corporation [Member] | Core Deposits [Member] | |
Remainder 2019 | 119 |
2020 | 475 |
2021 | 475 |
2022 | 475 |
2023 | 475 |
2024 | 470 |
2025 | |
Total | 2,489 |
AJS Bancorp, Inc [Member] | |
Current period | 299 |
AJS Bancorp, Inc [Member] | Core Deposits [Member] | |
Remainder 2019 | 112 |
2020 | 449 |
2021 | 449 |
2022 | 449 |
2023 | 449 |
2024 | 449 |
2025 | 261 |
Total | $ 2,618 |
Note 9 - Earnings Per Share - R
Note 9 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income as reported | $ 3,578 | $ 1,625 | $ 9,823 | $ 6,697 |
Weighted average common shares outstanding (in shares) | 3,451,797 | 3,029,369 | 3,416,045 | 2,922,271 |
Basic (in dollars per share) | $ 1.04 | $ 0.54 | $ 2.88 | $ 2.29 |
Net income as reported | $ 3,578 | $ 1,625 | $ 9,823 | $ 6,697 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 3,451,797 | 3,029,369 | 3,416,045 | 2,922,271 |
Diluted (in dollars per share) | $ 1.04 | $ 0.54 | $ 2.88 | $ 2.29 |
Note 10 - Stock Based Compens_3
Note 10 - Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Feb. 27, 2015 | |
Share-based Payment Arrangement, Expense | $ 233 | $ 104 | ||||
Share Based Compensation Expense, Estimated Future Compensation, Total | $ 478 | |||||
Share Based Compensation Expense, Estimated For Remainder of Fiscal Year | 68 | |||||
Share Based Compensation Expense, Estimated For Year Two | 242 | |||||
Share Based Compensation Expense, Estimated For Year Three | 149 | |||||
Share Based Compensation Expense, Estimated For Year Four | $ 19 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 7,407 | 4,433 | ||||
2015 Stock Option and Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | ||||
2015 Stock Option and Incentive Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 7,407 | 4,433 | ||||
2015 Stock Option and Incentive Plan [Member] | Restricted Stock [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
2015 Stock Option and Incentive Plan [Member] | Restricted Stock [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years |
Note 10 - Stock Based Compens_4
Note 10 - Stock Based Compensation - Restricted Stock Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Non-vested, shares (in shares) | 27,423 | 30,690 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 32.58 | $ 28.51 |
Granted, shares (in shares) | 7,407 | 4,433 |
Granted, weighted average grant date fair value (in dollars per share) | $ 43 | $ 43.50 |
Vested, shares (in shares) | (4,625) | (7,700) |
Vested, weighted average grant date fair value (in dollars per share) | $ 29.37 | $ 22.64 |
Forfeited, shares (in shares) | ||
Forfeited, weighted average grant date fair value (in dollars per share) | ||
Non-vested, shares (in shares) | 30,205 | 27,423 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 35.63 | $ 32.58 |
Note 13 - Fair Value (Details T
Note 13 - Fair Value (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Sep. 30, 2019 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses | $ 0 | |
Available-for-sale Securities, Amortized Cost Basis, Total | $ 3,400 | |
Impaired Financing Receivable, Recorded Investment, Total | 5,800 | 9,000 |
Impaired Financing Receivable, Related Allowance | 246 | 1,200 |
Impaired Financing Receivable, Fair Value | $ 5,500 | $ 7,800 |
Note 13 - Fair Value - Credit L
Note 13 - Fair Value - Credit Loss Roll Forward for Trust Preferred Securities Classified with Other Than Temporary Impairment (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Ending balance, December 31, 2018 | $ 235 |
Additions not previously recognized | |
Ending balance, September, 2019 | $ 235 |
Note 13 - Fair Value - Assets M
Note 13 - Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Total securities available-for-sale | $ 261,054 | $ 241,768 |
Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 261,054 | 241,768 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 5,771 | 2,480 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 253,213 | 237,239 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 2,070 | 2,049 |
Money Market Funds [Member] | ||
Total securities available-for-sale | 5,771 | 2,480 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 5,771 | 2,480 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 5,771 | 2,480 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | ||
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | ||
US Treasury Securities [Member] | ||
Total securities available-for-sale | 7,894 | |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | ||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | ||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | ||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | ||
US Government-sponsored Enterprises Debt Securities [Member] | ||
Total securities available-for-sale | 14,513 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 14,513 | 7,894 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 14,513 | 7,894 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | ||
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Total securities available-for-sale | 140,621 | 135,281 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 140,621 | 135,281 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | ||
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 140,621 | 135,281 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Total securities available-for-sale | 98,079 | 94,064 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 98,079 | 94,064 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 98,079 | 94,064 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | ||
Collateralized Debt Obligations [Member] | ||
Total securities available-for-sale | 2,070 | 2,049 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 2,070 | 2,049 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | ||
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | ||
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | $ 2,070 | $ 2,049 |
Note 13 - Fair Value - Availabl
Note 13 - Fair Value - Available for Sale Securities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 2,049 | $ 3,439 |
Principal payments | (33) | (51) |
Total unrealized gains, included in other comprehensive income | 54 | (36) |
Transfers in and/or (out) of Level 3 | (1,303) | |
Sale out of Level 3 | ||
Ending balance | $ 2,070 | $ 2,049 |
Note 13 - Fair Value - Assets_2
Note 13 - Fair Value - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Impaired Loans [Member] | ||
Assets, fair value | $ 7,771 | $ 5,536 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 7,771 | 5,536 |
Foreclosed Real Estate [Member] | ||
Assets, fair value | 1,098 | 1,627 |
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | ||
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | $ 1,098 | $ 1,627 |
Note 13 - Fair Value - Financia
Note 13 - Fair Value - Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities available-for-sale | $ 261,054 | $ 241,768 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 71,942 | 17,139 |
Certificates of deposit in other financial institutions | 2,170 | 2,024 |
Securities available-for-sale | 261,054 | 241,768 |
Loans held-for-sale | 4,641 | 2,863 |
Loans receivable, net | 895,099 | 756,438 |
Federal Home Loan Bank stock | 3,912 | 3,460 |
Interest rate swap agreements | 1,860 | 196 |
Accrued interest receivable | 3,995 | 3,632 |
Non-interest bearing deposits | 176,878 | 127,277 |
Interest bearing deposits | 975,589 | 802,509 |
Repurchase agreements | 14,931 | 11,628 |
Borrowed funds | 16,000 | 43,000 |
Interest rate swap agreements | 1,860 | 196 |
Accrued interest payable | 166 | 186 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 71,942 | 17,139 |
Certificates of deposit in other financial institutions | 2,137 | 2,001 |
Securities available-for-sale | 261,054 | 241,768 |
Loans held-for-sale | 4,761 | 2,910 |
Loans receivable, net | 907,899 | 747,553 |
Federal Home Loan Bank stock | 3,912 | 3,460 |
Interest rate swap agreements | 1,860 | 196 |
Accrued interest receivable | 3,995 | 3,632 |
Non-interest bearing deposits | 176,878 | 127,277 |
Interest bearing deposits | 975,443 | 800,349 |
Repurchase agreements | 14,931 | 11,626 |
Borrowed funds | 16,105 | 42,888 |
Interest rate swap agreements | 1,860 | 196 |
Accrued interest payable | 166 | 186 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 71,942 | 17,139 |
Certificates of deposit in other financial institutions | ||
Securities available-for-sale | 5,771 | 2,480 |
Loans held-for-sale | 4,761 | 2,910 |
Loans receivable, net | ||
Federal Home Loan Bank stock | ||
Interest rate swap agreements | ||
Accrued interest receivable | ||
Non-interest bearing deposits | 176,878 | 127,277 |
Interest bearing deposits | 638,314 | 543,617 |
Repurchase agreements | 13,158 | 9,867 |
Borrowed funds | ||
Interest rate swap agreements | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Certificates of deposit in other financial institutions | 2,137 | 2,001 |
Securities available-for-sale | 253,213 | 237,239 |
Loans held-for-sale | ||
Loans receivable, net | ||
Federal Home Loan Bank stock | 3,912 | 3,460 |
Interest rate swap agreements | 1,860 | 196 |
Accrued interest receivable | 3,995 | 3,632 |
Non-interest bearing deposits | ||
Interest bearing deposits | 337,129 | 256,732 |
Repurchase agreements | 1,773 | 1,759 |
Borrowed funds | 16,105 | 42,888 |
Interest rate swap agreements | 1,860 | 196 |
Accrued interest payable | 166 | 186 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Certificates of deposit in other financial institutions | ||
Securities available-for-sale | 2,070 | 2,049 |
Loans held-for-sale | ||
Loans receivable, net | 907,899 | 747,553 |
Federal Home Loan Bank stock | ||
Interest rate swap agreements | ||
Accrued interest receivable | ||
Non-interest bearing deposits | ||
Interest bearing deposits | ||
Repurchase agreements | ||
Borrowed funds | ||
Interest rate swap agreements | ||
Accrued interest payable |