Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Aug. 06, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000919864 | |
Entity Registrant Name | NORTHWEST INDIANA BANCORP | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 0-26128 | |
Entity Incorporation, State or Country Code | IN | |
Entity Tax Identification Number | 35-1927981 | |
Entity Address, Address Line One | 9204 Columbia Avenue | |
Entity Address, City or Town | Munster | |
Entity Address, State or Province | IN | |
Entity Address, Postal Zip Code | 46321 | |
City Area Code | 219 | |
Local Phone Number | 836-4400 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 3,463,136 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and non-interest bearing deposits in other financial institutions | $ 23,989 | $ 20,964 |
Interest bearing deposits in other financial institutions | 72,993 | 10,750 |
Federal funds sold | 323 | 15,544 |
Total cash and cash equivalents | 97,305 | 47,258 |
Certificates of deposit in other financial institutions | 1,639 | 2,170 |
Securities available-for-sale | 294,719 | 277,219 |
Loans held-for-sale | 10,024 | 6,091 |
Loans receivable | 981,902 | 906,869 |
Less: allowance for loan losses | (9,866) | (8,999) |
Net loans receivable | 972,036 | 897,870 |
Federal Home Loan Bank stock | 3,918 | 3,912 |
Accrued interest receivable | 4,284 | 4,029 |
Premises and equipment | 28,905 | 29,407 |
Foreclosed real estate | 634 | 1,083 |
Cash value of bank owned life insurance | 30,374 | 30,017 |
Goodwill | 11,109 | 11,109 |
Other assets | 19,087 | 18,557 |
Total assets | 1,474,034 | 1,328,722 |
Deposits: | ||
Non-interest bearing | 262,001 | 172,094 |
Interest bearing | 1,015,633 | 982,276 |
Total | 1,277,634 | 1,154,370 |
Repurchase agreements | 17,159 | 11,499 |
Borrowed funds | 12,000 | 14,000 |
Accrued expenses and other liabilities | 22,060 | 14,750 |
Total liabilities | 1,328,853 | 1,194,619 |
Stockholders' Equity: | ||
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding | 0 | 0 |
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued and outstanding: June 30, 2020 - 3,463,136 December 31, 2019 - 3,451,797 | 0 | |
Additional paid-in capital | 29,774 | 29,657 |
Accumulated other comprehensive income/(loss) | 9,114 | 4,261 |
Retained earnings | 106,293 | 100,185 |
Total stockholders' equity | 145,181 | 134,103 |
Total liabilities and stockholders' equity | $ 1,474,034 | $ 1,328,722 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
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 issued (in shares) | 3,463,136 | 3,451,797 |
Common stock, shares outstanding (in shares) | 3,463,136 | 3,451,797 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Interest income: | ||||
Real estate loans | $ 9,305 | $ 9,653 | $ 18,662 | $ 18,401 |
Commercial loans | 1,834 | 1,651 | 3,319 | 3,335 |
Consumer loans | 158 | 181 | 345 | 292 |
Total loan interest | 11,297 | 11,485 | 22,326 | 22,028 |
Securities | 1,564 | 1,777 | 3,269 | 3,578 |
Other interest earning assets | 44 | 143 | 179 | 285 |
Total interest income | 12,905 | 13,405 | 25,774 | 25,891 |
Interest expense: | ||||
Deposits | 1,380 | 2,011 | 3,444 | 3,683 |
Repurchase agreements | 17 | 66 | 57 | 115 |
Borrowed funds | 93 | 128 | 187 | 294 |
Total interest expense | 1,490 | 2,205 | 3,688 | 4,092 |
Net interest income | 11,415 | 11,200 | 22,086 | 21,799 |
Provision for loan losses | 508 | 511 | 1,022 | 828 |
Net interest income after provision for loan losses | 10,907 | 10,689 | 21,064 | 20,971 |
Noninterest income: | ||||
Gain on sale of loans held-for-sale, net | 2,464 | 400 | 3,617 | 642 |
Fees and service charges | 1,151 | 1,243 | 2,200 | 2,405 |
Gain on sale of securities, net | 667 | 301 | 1,177 | 652 |
Wealth management operations | 514 | 479 | 1,068 | 979 |
Increase in cash value of bank owned life insurance | 188 | 179 | 357 | 342 |
Gain on sale of foreclosed real estate, net | 43 | 13 | 103 | 40 |
Other | 19 | 54 | 70 | 178 |
Total noninterest income | 5,046 | 2,669 | 8,592 | 5,238 |
Noninterest expense: | ||||
Compensation and benefits | 5,371 | 4,600 | 10,588 | 9,401 |
Occupancy and equipment | 1,295 | 1,169 | 2,704 | 2,291 |
Data processing | 532 | 351 | 1,088 | 1,947 |
Marketing | 180 | 176 | 388 | 613 |
Federal deposit insurance premiums | 159 | 177 | 355 | 268 |
Other | 2,227 | 1,951 | 4,640 | 4,193 |
Total noninterest expense | 9,764 | 8,424 | 19,763 | 18,713 |
Income before income tax expenses | 6,189 | 4,934 | 9,893 | 7,496 |
Income tax expenses | 1,126 | 911 | 1,638 | 1,251 |
Net income | $ 5,063 | $ 4,023 | $ 8,255 | $ 6,245 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 1.46 | $ 1.17 | $ 2.39 | $ 1.84 |
Diluted (in dollars per share) | 1.46 | 1.17 | 2.39 | 1.84 |
Dividends declared per common share (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.62 | $ 0.61 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income | $ 5,063 | $ 4,023 | $ 8,255 | $ 6,245 |
Net change in net unrealized gains on securities available-for-sale: | ||||
Unrealized gains arising during the period | 1,207 | 3,584 | 7,319 | 7,766 |
Less: reclassification adjustment for gains included in net income | (667) | (301) | (1,177) | (652) |
Net securities gain during the period | 540 | 3,283 | 6,142 | 7,114 |
Tax effect | (112) | (690) | (1,289) | (1,488) |
Net of tax amount | 428 | 2,593 | 4,853 | 5,626 |
Other comprehensive income, net of tax | 428 | 2,593 | 4,853 | 5,626 |
Comprehensive income, net of tax | $ 5,491 | $ 6,616 | $ 13,108 | $ 11,871 |
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, 2018 | $ 0 | $ 11,927 | $ (2,796) | $ 92,333 | $ 101,464 |
Net income | 0 | 0 | 0 | 2,222 | 2,222 |
Net unrealized gain on securities available-for-sale, net of reclassification and tax effects | 0 | 0 | 3,033 | 0 | 3,033 |
Comprehensive income | 5,255 | ||||
Stock-based compensation expense | 0 | 71 | 0 | 0 | 71 |
Issuance of shares for acquisition | 17,492 | 17,492 | |||
Cash dividends | 0 | 0 | 0 | (1,035) | (1,035) |
Balance at Mar. 31, 2019 | 0 | 29,490 | 237 | 93,520 | 123,247 |
Balance at Dec. 31, 2018 | 0 | 11,927 | (2,796) | 92,333 | 101,464 |
Net income | 6,245 | ||||
Comprehensive income | 11,871 | ||||
Balance at Jun. 30, 2019 | 0 | 29,510 | 2,830 | 96,472 | 128,812 |
Balance at Mar. 31, 2019 | 0 | 29,490 | 237 | 93,520 | 123,247 |
Net income | 0 | 0 | 0 | 4,023 | 4,023 |
Net unrealized gain on securities available-for-sale, net of reclassification and tax effects | 0 | 0 | 2,593 | 0 | 2,593 |
Comprehensive income | 6,616 | ||||
Stock-based compensation expense | 0 | 83 | 0 | 0 | 83 |
Cash dividends | 0 | 0 | 0 | (1,071) | (1,071) |
Net surrender value of restricted stock awards | (63) | (63) | |||
Balance at Jun. 30, 2019 | 0 | 29,510 | 2,830 | 96,472 | 128,812 |
Balance at Dec. 31, 2019 | 0 | 29,657 | 4,261 | 100,185 | 134,103 |
Net income | 0 | 0 | 0 | 3,192 | 3,192 |
Net unrealized gain on securities available-for-sale, net of reclassification and tax effects | 0 | 0 | 4,425 | 0 | 4,425 |
Comprehensive income | 7,617 | ||||
Stock-based compensation expense | 0 | 94 | 0 | 0 | 94 |
Cash dividends | 0 | 0 | 0 | (1,074) | (1,074) |
Net surrender value of restricted stock awards | (85) | (85) | |||
Balance at Mar. 31, 2020 | 0 | 29,666 | 8,686 | 102,303 | 140,655 |
Balance at Dec. 31, 2019 | 0 | 29,657 | 4,261 | 100,185 | 134,103 |
Net income | 8,255 | ||||
Comprehensive income | 13,108 | ||||
Balance at Jun. 30, 2020 | 0 | 29,774 | 9,114 | 106,293 | 145,181 |
Balance at Mar. 31, 2020 | 0 | 29,666 | 8,686 | 102,303 | 140,655 |
Net income | 0 | 0 | 0 | 5,063 | 5,063 |
Net unrealized gain on securities available-for-sale, net of reclassification and tax effects | 0 | 0 | 428 | 0 | 428 |
Comprehensive income | 5,491 | ||||
Stock-based compensation expense | 0 | 108 | 0 | 0 | 108 |
Cash dividends | 0 | 0 | 0 | (1,073) | (1,073) |
Balance at Jun. 30, 2020 | $ 0 | $ 29,774 | $ 9,114 | $ 106,293 | $ 145,181 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | |
Issuance of shares for acquisition (in shares) | 416,478 | |||
Shares issued per share (in dollars per share) | $ 42 | |||
Cash dividends per share (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.31 | $ 0.30 |
Shares of restricted stock awards surrendered (in shares) | 1,904 | 1,245 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 8,255 | $ 6,245 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
Origination of loans for sale | (114,170) | (29,585) |
Sale of loans originated for sale | 113,362 | 29,252 |
Depreciation and amortization, net of accretion | 2,186 | 1,516 |
Amortization of mortgage servicing rights | 32 | 33 |
Stock based compensation expense | 202 | 154 |
Net surrender value of restricted stock awards | (85) | (63) |
Gain on sale of securities, net | (1,177) | (652) |
Gain on sale of loans held-for-sale, net | (3,617) | (642) |
Gain on interest rate lock derivative | 298 | 0 |
Gain on sale of foreclosed real estate, net | (103) | (40) |
Provision for loan losses | 1,022 | 828 |
Net change in: | ||
Interest receivable | (255) | (499) |
Other assets | (1,657) | (3,567) |
Accrued expenses and other liabilities | 7,303 | 2,661 |
Total adjustments | 3,341 | (604) |
Net cash - operating activities | 11,596 | 5,641 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net proceeds from maturities and (purchases) of certificates of deposits in other financial institutions | 531 | 54 |
Proceeds from maturities and pay downs of securities available-for-sale | 31,409 | 11,747 |
Proceeds from sales of securities available-for-sale | 35,098 | 30,281 |
Purchase of securities available-for-sale | (77,506) | (48,347) |
Net change in loans receivable | (75,211) | (42,336) |
Purchase of Federal Home Loan Bank Stock | (6) | 59 |
Purchase of premises and equipment, net | (866) | (962) |
Proceeds from sale of foreclosed real estate, net | 575 | 514 |
Cash and cash equivalents from acquisition activity, net | 0 | 52,560 |
Change in cash value of bank owned life insurance | (357) | (343) |
Net cash - investing activities | (86,333) | 3,227 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | 123,264 | 53,109 |
Repayment of FHLB advances | (2,000) | (25,000) |
Change in other borrowed funds | 5,660 | 9,000 |
Dividends paid | (2,140) | (1,944) |
Net cash - financing activities | 124,784 | 35,165 |
Net change in cash and cash equivalents | 50,047 | 44,033 |
Cash and cash equivalents at beginning of period | 47,258 | 17,139 |
Cash and cash equivalents at end of period | 97,305 | 61,172 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 3,802 | 4,112 |
Income taxes | 0 | 650 |
Acquisition activity: | ||
Fair value of assets acquired, including cash and cash equivalents | 0 | 172,925 |
Value of goodwill and other intangible assets | 0 | 5,856 |
Fair value of liabilities assumed | 0 | 145,546 |
Cash paid for acquisition | 0 | 15,743 |
Issuance of common stock for acquisition | 0 | 17,492 |
Noncash activities: | ||
Transfers from loans to foreclosed real estate | $ 23 | $ 193 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2020 | |
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 (the “Bank”), and the Bank’s wholly-owned subsidiaries, Peoples Service Corporation, NWIN, LLC, NWIN Funding, Incorporated, Columbia Development Company, LLC. Peoples Bank (formerly known as “Peoples Bank SB”) was an Indiana-chartered stock savings bank until its conversion to an Indiana-chartered commercial bank effective May 22, 2020. 10 not June 30, 2020, December 31, 2019, three six June 30, 2020, 2019, six June 30, 2020, 2019. six June 30, 2020, not |
Note 2 - Use of Estimates
Note 2 - Use of Estimates | 6 Months Ended |
Jun. 30, 2020 | |
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. In December 2019, 19 March 2020, 19 Currently, the Bancorp does not 19 not The Bancorp is working with customers directly affected by COVID- 19 19 19 In addition, COVID- 19 no 7, |
Note 3 - Acquisition Activity
Note 3 - Acquisition Activity | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 3 On January 24, 2019, July 30, 2018 In connection with the AJSB Merger, each AJSB stockholder holding 100 The Bancorp issued 416,478 shares of Bancorp common stock to the former AJSB stockholders, and paid cash consideration of approximately $15.7 million. Based upon the closing price of NWIN’s common stock on January 23, 2019, 2019 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, 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 |
Note 4 - Securities
Note 4 - Securities | 6 Months Ended |
Jun. 30, 2020 | |
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 June 30, 2020 Money market fund $ 21,457 $ - $ - $ 21,457 Collateralized mortgage obligations and residential mortgage-backed securities 129,789 4,284 - 134,073 Municipal securities 129,754 8,622 (2 ) 138,374 Collateralized debt obligations 2,191 - (1,376 ) 815 Total securities available-for-sale $ 283,191 $ 12,906 $ (1,378 ) $ 294,719 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2019 Money market fund $ 9,670 $ - $ - $ 9,670 U.S. government sponsored entities 12,994 64 - 13,058 Collateralized mortgage obligations and residential mortgage-backed securities 149,339 1,745 (96 ) 150,988 Municipal securities 97,628 4,844 (45 ) 102,427 Collateralized debt obligations 2,202 - (1,126 ) 1,076 Total securities available-for-sale $ 271,833 $ 6,653 $ (1,267 ) $ 277,219 The estimated fair value of available-for-sale debt securities at June 30, 2020, not (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent June 30, 2020 Value Yield (%) Due in one year or less $ 21,457 0.11 Due from one to five years 3,134 4.79 Due from five to ten years 9,857 4.00 Due over ten years 126,198 3.55 Collateralized mortgage obligations and residential mortgage-backed securities 134,073 2.31 Total $ 294,719 2.76 Sales of available-for-sale securities were as follows for the six (Dollars in thousands) June 30, June 30, 2020 2019 Proceeds $ 35,098 $ 30,281 Gross gains 1,237 733 Gross losses (60 ) (81 ) 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, 2019 $ 4,261 Current period change 4,853 Ending balance, June 30, 2020 $ 9,114 Securities with carrying values of approximately $116.8 million and $65.5 million were pledged as of June 30, 2020 December 31, 2019, Securities with gross unrealized losses at June 30, 2020, December 31, 2019, 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 June 30, 2020 Collateralized mortgage obligations and residential mortgage-backed securities - - - - - - Municipal securities 1,088 (2 ) - - 1,088 (2 ) Collateralized debt obligations - - 815 (1,376 ) 815 (1,376 ) Total temporarily impaired $ 1,088 $ (2 ) $ 815 $ (1,376 ) $ 1,903 $ (1,378 ) Number of securities 2 2 4 (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, 2019 U.S. government sponsored entities $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations and residential mortgage-backed securities 8,859 (31 ) 15,065 (65 ) 23,924 (96 ) Municipal securities 4,367 (45 ) - - 4,367 (45 ) Collateralized debt obligations - - 1,076 (1,126 ) 1,076 (1,126 ) Total temporarily impaired $ 13,226 $ (76 ) $ 16,141 $ (1,191 ) $ 29,367 $ (1,267 ) Number of securities 11 17 28 Unrealized losses on securities have not |
Note 5 - Loans Receivable
Note 5 - Loans Receivable | 6 Months Ended |
Jun. 30, 2020 | |
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) June 30, 2020 December 31, 2019 Loans secured by real estate: Residential real estate $ 284,703 $ 299,569 Home equity 46,254 49,118 Commercial real estate 286,122 283,108 Construction and land development 92,982 87,710 Multifamily 56,070 51,286 Farmland 221 227 Total loans secured by real estate 766,352 771,018 Commercial business 181,984 103,222 Consumer 522 627 Manufactured homes 17,806 13,285 Government 13,729 15,804 Subtotal 980,393 903,956 Less: Net deferred loan origination fees 1,411 2,934 Undisbursed loan funds 98 (21 ) Loans receivable $ 981,902 $ 906,869 (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 June 30, 2020: Allowance for loan losses: Residential real estate $ 1,828 $ (2 ) $ 4 $ (122 ) $ 1,708 Home equity 246 - - (15 ) 231 Commercial real estate 3,693 (80 ) - 99 3,712 Construction and land development 1,223 (17 ) - (5 ) 1,201 Multifamily 562 - - 47 609 Farmland - - - - - Commercial business 1,901 (78 ) 16 536 2,375 Consumer 42 (1 ) 5 (16 ) 30 Manufactured homes - - - - - Government 16 - - (16 ) - Total $ 9,511 $ (178 ) $ 25 $ 508 $ 9,866 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three June 30, 2019: Allowance for loan losses: Residential real estate $ 1,680 $ (18 ) $ 4 $ (6 ) $ 1,660 Home equity 194 - 2 6 202 Commercial real estate 3,485 - - 44 3,529 Construction and land development 777 - - 29 806 Multifamily 434 - - 19 453 Farmland - - - - - Commercial business 1,391 - 10 116 1,517 Consumer 254 (7 ) 6 303 556 Manufactured homes - - - - - Government 21 - - - 21 Total $ 8,236 $ (25 ) $ 22 $ 511 $ 8,744 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the six June 30, 2020: Allowance for loan losses: Residential real estate $ 1,812 $ (2 ) $ 10 $ (112 ) $ 1,708 Home equity 223 - - 8 231 Commercial real estate 3,773 (80 ) - 19 3,712 Construction and land development 1,098 (17 ) - 120 1,201 Multifamily 529 - - 80 609 Farmland - - - - - Commercial business 1,504 (78 ) 17 932 2,375 Consumer 43 (13 ) 8 (8 ) 30 Manufactured homes - - - - - Government 17 - - (17 ) - Total $ 8,999 $ (190 ) $ 35 $ 1,022 $ 9,866 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the six June 30, 2019: Allowance for loan losses: Residential real estate $ 1,715 $ (66 ) $ 18 $ (7 ) $ 1,660 Home equity 202 - 2 (2 ) 202 Commercial real estate 3,335 - - 194 3,529 Construction and land development 756 - - 50 806 Multifamily 472 - - (19 ) 453 Farmland - - - - - Commercial business 1,362 - 16 139 1,517 Consumer 82 (25 ) 9 490 556 Manufactured homes - - - - - Government 38 - - (17 ) 21 Total $ 7,962 $ (91 ) $ 45 $ 828 $ 8,744 A deferred cost reserve is maintained for the portfolio of manufactured home loans that have been purchased. This reserve is available for use for manufactured home loan nonperformance and costs associated with nonperformance. If the segment performs in line with expectation, the deferred cost reserve is paid as an origination cost to the third June 30, 2020 December 31, 2019, 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 June 30, 2020: Residential real estate $ 130 $ 1,578 $ 284,563 $ 794 $ 1,470 $ 282,299 Home equity - 231 46,312 230 142 45,940 Commercial real estate 15 3,697 286,122 1,110 152 284,860 Construction and land development - 1,201 92,982 - - 92,982 Multifamily - 609 56,070 112 656 55,302 Farmland - - 221 - - 221 Commercial business 337 2,038 178,863 1,103 1,154 176,606 Consumer - 30 522 - - 522 Manufactured homes - - 22,518 - - 22,518 Government - - 13,729 - - 13,729 Total $ 482 $ 9,384 $ 981,902 $ 3,349 $ 3,574 $ 974,979 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2019: Residential real estate $ 10 $ 1,802 $ 299,333 $ 642 $ 1,581 $ 297,110 Home equity 4 219 49,181 221 216 48,744 Commercial real estate - 3,773 283,108 1,078 487 281,543 Construction and land development - 1,098 87,710 - - 87,710 Multifamily - 529 51,286 129 673 50,484 Farmland - - 227 - - 227 Commercial business 152 1,352 103,088 1,041 1,150 100,897 Consumer - 43 627 - - 627 Manufactured homes - - 16,505 - - 16,505 Government - 17 15,804 - - 15,804 Total $ 166 $ 8,833 $ 906,869 $ 3,111 $ 4,107 $ 899,651 The Bancorp's credit quality indicators are summarized below at June 30, 2020, December 31, 2019: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category June 30, 2020 (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 $ 660 $ 113,209 $ 101,700 $ 13,550 $ 47,117 $ 3,164 $ 5,163 $ 284,563 Home equity 120 6,371 37,894 121 743 565 498 46,312 Commercial real estate - 2,123 71,620 146,373 56,102 6,731 3,173 286,122 Construction and land development - 1,087 28,609 50,274 13,012 - - 92,982 Multifamily - 757 17,409 31,844 5,018 501 541 56,070 Farmland - - - - 221 - - 221 Commercial business 5,256 99,733 16,920 36,300 17,723 1,851 1,080 178,863 Consumer 55 - 467 - - - - 522 Manufactured homes 4,712 2,146 14,663 180 817 - - 22,518 Government - 1,775 10,294 1,660 - - - 13,729 Total $ 10,803 $ 227,201 $ 299,576 $ 280,302 $ 140,753 $ 12,812 $ 10,455 $ 981,902 December 31, 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 $ 827 $ 119,138 $ 104,153 $ 13,463 $ 53,058 $ 4,203 $ 4,491 $ 299,333 Home equity 100 6,536 40,027 264 934 813 507 49,181 Commercial real estate - 2,030 82,158 135,058 56,917 5,380 1,565 283,108 Construction and land development - 719 26,900 45,751 14,340 - - 87,710 Multifamily - 903 18,107 26,800 4,674 - 802 51,286 Farmland - - - - 227 - - 227 Commercial business 8,312 13,158 19,638 39,016 20,009 2,228 727 103,088 Consumer 90 - 537 - - - - 627 Manufactured homes 3,221 2,413 9,825 184 862 - - 16,505 Government - 1,889 11,505 2,410 - - - 15,804 Total $ 12,550 $ 146,786 $ 312,850 $ 262,946 $ 151,021 $ 12,624 $ 8,092 $ 906,869 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 six 2020, one one One not The Bancorp’s individually evaluated impaired loans are summarized below: For the six months ended As of June 30, 2020 June 30, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 2,077 $ 3,459 $ - $ 2,107 $ 49 Home equity 372 392 - 384 9 Commercial real estate 1,096 1,682 - 1,379 47 Construction and land development - - - - - Multifamily 768 850 - 784 14 Farmland - - - - - Commercial business 1,463 1,517 - 1,588 40 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 187 $ 187 $ 130 $ 107 $ 1 Home equity - - - 5 - Commercial real estate 166 166 15 67 1 Construction and land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 794 794 337 676 19 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,264 $ 3,646 $ 130 $ 2,214 $ 50 Home equity $ 372 $ 392 $ - $ 389 $ 9 Commercial real estate $ 1,262 $ 1,848 $ 15 $ 1,446 $ 48 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 768 $ 850 $ - $ 784 $ 14 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,257 $ 2,311 $ 337 $ 2,264 $ 59 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the six months ended As of December 31, 2019 June 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 $ 2,140 $ 3,555 $ - $ 1,813 $ 31 Home equity 429 451 - 344 3 Commercial real estate 1,547 2,141 - 1,655 33 Construction & land development - - - - - Multifamily 802 884 - 472 3 Farmland - - - - - Commercial business 1,814 1,906 - 1,967 43 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 83 $ 83 $ 10 $ 159 $ 2 Home equity 8 8 4 59 1 Commercial real estate 18 18 - 478 - Construction & land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 377 377 152 145 - Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,223 $ 3,638 $ 10 $ 1,972 $ 33 Home equity $ 437 $ 459 $ 4 $ 403 $ 4 Commercial real estate $ 1,565 $ 2,159 $ - $ 2,133 $ 33 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 802 $ 884 $ - $ 472 $ 3 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,191 $ 2,283 $ 152 $ 2,112 $ 43 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 June 30, 2020 Residential real estate $ 4,741 $ 1,055 $ 3,524 $ 9,320 $ 275,243 $ 284,563 $ 343 Home equity 266 207 389 862 45,450 46,312 49 Commercial real estate 1,693 1,344 1,447 4,484 281,638 286,122 1,194 Construction and land development 672 - - 672 92,310 92,982 - Multifamily - 274 170 444 55,626 56,070 - Farmland - - - - 221 221 - Commercial business 426 150 847 1,423 177,440 178,863 318 Consumer 9 - - 9 513 522 - Manufactured homes 308 293 - 601 21,917 22,518 - Government - - - - 13,729 13,729 - Total $ 8,115 $ 3,323 $ 6,377 $ 17,815 $ 964,087 $ 981,902 $ 1,904 December 31, 2019 Residential real estate $ 3,486 $ 1,332 $ 3,724 $ 8,542 $ 290,791 $ 299,333 $ 452 Home equity 90 24 388 502 48,679 49,181 19 Commercial real estate 1,461 170 719 2,350 280,758 283,108 61 Construction and land development 143 289 - 432 87,278 87,710 - Multifamily 140 - 160 300 50,986 51,286 - Farmland - - - - 227 227 - Commercial business 926 583 870 2,379 100,709 103,088 288 Consumer - - - - 627 627 - Manufactured homes 63 36 46 145 16,360 16,505 46 Government - - - - 15,804 15,804 - Total $ 6,309 $ 2,434 $ 5,907 $ 14,650 $ 892,219 $ 906,869 $ 866 The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) June 30, 2020 December 31, 2019 Residential real estate $ 5,135 $ 4,374 Home equity 464 473 Commercial real estate 253 658 Construction and land development - - Multifamily 541 420 Farmland - - Commercial business 1,015 582 Consumer - - Manufactured homes - - Government - - Total $ 7,408 $ 6,507 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 June 30, 2020, December 31, 2019, Accretable interest taken from the purchase credit impaired portfolio, or income recorded for the six June 30, (dollars in thousands) First Personal 2019 $ 90 2020 57 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 2020 43 2021 21 Total $ 64 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 AJSB Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period 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 six June 30, (dollars in thousands) First Federal Liberty Savings First Personal AJSB Total 2019 $ 22 $ 42 $ 357 $ 451 $ 872 2020 - - 285 691 $ 975 Accretable yield, or income expected to be recorded in the future is as follows: (dollars in thousands) First Personal AJSB Total 2020 $ 162 $ 347 $ 509 2021 311 694 1,005 2022 300 694 994 2023 68 287 355 Total $ 841 $ 2,022 $ 2,863 |
Note 6 - Foreclosed Real Estate
Note 6 - Foreclosed Real Estate | 6 Months Ended |
Jun. 30, 2020 | |
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 June 30, 2020 December 31, 2019 Residential real estate $ 524 $ 957 Commercial real estate 110 126 Total $ 634 $ 1,083 |
Note 7 - Intangibles and Acquis
Note 7 - Intangibles and Acquisition Related Accounting | 6 Months Ended |
Jun. 30, 2020 | |
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 million with the acquisitions of AJSB, First Personal, First Federal, and Liberty Savings. Goodwill of $2.9 million, $5.4 million, $2.0 million, and $804 thousand were established with the acquisition of AJSB, First Personal, First Federal, and Liberty Savings, respectively. Goodwill is tested annually for impairment, or when circumstances or events are deemed significant enough to test for impairment. Goodwill arising from business combinations represents the value attributable to unidentifiable intangible assets in the business acquired. The Bancorp’s goodwill relates to the value inherent in the banking industry and that value is dependent upon the ability of the Bancorp to provide quality, cost effective banking services in a competitive marketplace. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. As a result of the COVID- 19 June 30, 2020. third no six June 30, 2020. June 30, 2020, December 31, 2019. In addition to goodwill, a core deposit intangible of $93 thousand for the acquisition of First Federal was established and is being amortized over an initial period of 7.9 years on a straight line basis. A core deposit intangible of $471 thousand for the acquisition of Liberty Savings was established and is being amortized over an initial period of 8.2 years on a straight line basis. A core deposit intangible of $3.0 million for the acquisition of First Personal was established and is being amortized over an initial period of 6.4 years on a straight line basis. A core deposit intangible of $2.9 million for the acquisition of AJSB was established and is being amortized over an initial period of 6.5 years on a straight line basis. The table below summarizes the annual amortization: Amortization recorded for the six June 30, 2020 (dollars in thousands) First Federal Liberty Savings First Personal AJSB Total Current period $ 6 $ 29 $ 238 $ 224 $ 497 Amortization to be recorded in future periods, is as follows: (dollars in thousands) First Federal Liberty Savings First Personal AJSB Total Remainder 2020 6 29 238 224 497 2021 12 58 475 449 994 2022 1 58 475 449 983 2023 - 38 475 449 962 2024 - - 470 449 919 2025 - - - 261 261 2026 - - - - Total $ 19 $ 183 $ 2,133 $ 2,281 $ 4,616 For the AJSB acquisition, as part of the fair value of certificates of deposit, a fair value premium was established of $174 thousand that is being amortized over 14 months on a straight line basis. Approximately $34 thousand of amortization was taken as income during the six June 30, 2020. June 30, 2020. |
Note 8 - Concentrations of Cred
Note 8 - Concentrations of Credit Risk | 6 Months Ended |
Jun. 30, 2020 | |
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 DuPage, 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 | 6 Months Ended |
Jun. 30, 2020 | |
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 six June 30, 2020, 2019 Three Months Ended Six Months Ended (Dollars in thousands, except per share data) June 30, June 30, 2020 2019 2020 2019 Basic earnings per common share: Net income as reported $ 5,063 $ 4,023 $ 8,255 $ 6,245 Weighted average common shares outstanding 3,463,136 3,451,961 3,460,820 3,397,872 Basic earnings per common share $ 1.46 $ 1.17 $ 2.39 $ 1.84 Diluted earnings per common share: - Net income as reported $ 5,063 $ 4,023 $ 8,255 $ 6,245 Weighted average common shares outstanding 3,463,136 3,451,961 3,460,820 3,397,872 Weighted average common and dilutive potential common shares outstanding 3,463,136 3,451,961 3,460,820 3,397,872 Diluted earnings per common share $ 1.46 $ 1.17 $ 2.39 $ 1.84 |
Note 10 - Stock Based Compensat
Note 10 - Stock Based Compensation | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 10 The Bancorp’s 2015 February 27, 2015, April 24, 2015, 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 six June 30, 2020, six June 30, 2019. 2023 2020, 2021, 2022, 2023. There were no incentive stock options granted during the first six 2020 2019. June 30, 2020, There were 13,243 shares of restricted stock granted during the first six 2020 first six 2019. three five December 31, 2019, six June 30, 2020, Non-vested Shares Shares Weighted Non-vested at January 1, 2019 27,423 $ 32.58 Granted 7,407 43.00 Vested (4,625 ) 29.37 Forfeited - - Non-vested at December 31, 2019 30,205 $ 35.63 Non-vested at January 1, 2020. 30,205 $ 35.63 Granted 13,243 44.30 Vested (6,400 ) 27.50 Forfeited - - Non-vested at June 30, 2020 37,048 $ 40.13 |
Note 11 - Change in Accounting
Note 11 - Change in Accounting Principles | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 11 In January 2017, 2017 04, 350 2 2 2, No. 2017 04, 1 2 not No. 2017 04 zero 2 December 31, 2020, January 1, 2020. not not In March 2017, 2017 08, 310 20 not, December 31, 2019, January 1, 2019. not |
Note 12 - Upcoming Accounting S
Note 12 - Upcoming Accounting Standards | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Note 12 In June 2016, No. 2016 13, October 2019, December 15, 2022, December 31, 2023. first December 15, 2018, |
Note 13 - Derivative Financial
Note 13 - Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 13 The Bancorp has certain interest rate derivative positions that are not not not not The Bancorp enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (i.e., interest rate lock commitment). The interest rate lock commitments are considered derivatives and are recorded on the accompanying consolidated balance sheets at fair value in accordance with FASB ASC 815, The following table shows the amounts of non-hedging derivative financial instruments: June 30, 2020 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 38,866 Other assets $ 3,778 Other liabilties $ 3,778 Interest rate lock commitments 35,904 Other assets 485 N/A - Total $ 74,770 $ 4,263 $ 3,778 December 31, 2019 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 29,466 Other assets $ 1,358 Other liabilties $ 1,358 Interest rate lock commitments 12,822 Other assets 186 N/A - Total $ 42,288 $ 1,544 $ 1,358 The following table shows the amounts included in the Statements of Income for non-hedging derivative financial instruments: Six Months Ended June 30, (Dollars in thousands) Statement of Income Classification 2020 2019 Interest rate swap contracts Other income $ 231 $ 338 Interest rate lock commitments Gain on sale of loans held-for-sale, net 298 - Total $ 529 $ 338 The following table shows the offsetting of financial assets and derivative assets: Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount June 30, 2020 Interest rate swap contracts $ 3,778 $ - $ 3,778 $ - $ - $ 3,778 Interest rate lock commitments 485 - 485 - - 485 Total $ 4,263 $ - $ 4,263 $ - $ - $ 4,263 Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ - $ 1,358 Interest rate lock commitments 186 - 186 - - 186 Total $ 1,544 $ - $ 1,544 $ - $ - $ 1,544 The following table shows the offsetting of financial liabilities and derivative liabilities: Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount March 31, 2020 Interest rate swap contracts $ 3,778 $ - $ 3,778 $ - $ 3,660 $ 118 Total $ 3,778 $ - $ 3,778 $ - $ 3,660 $ 118 Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) Total $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) |
Note 14 - Fair Value
Note 14 - Fair Value | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 1 4 - 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 semi-annually during June December June 30, 2020. December 31, 2020. 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 (Dollars in thousands) impairment Ending balance, December 31, 2019 $ 173 Additions not previously recognized - Ending balance, June 30, 2020 $ 173 At June 30,2020, not not Assets and Liabilities Measured at Fair Value on a Recurring Basis There were no 1 2 six June 30, 2020. Fair Value Measurements at June 30, 2020, 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 $ 21,457 $ 21,457 $ - $ - residential mortgage-backed securities 134,073 - 134,073 - Municipal securities 138,374 - 138,374 - Collateralized debt obligations 815 - - 815 Total securities available-for-sale $ 294,719 $ 21,457 $ 272,447 $ 815 Fair Value Measurements at December 31, 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 $ 9,670 $ 9,670 $ - $ - U.S. government sponsored entities 13,058 - 13,058 - Collateralized mortgage obligations and residential mortgage-backed securities 150,988 - 150,988 - Municipal securities 102,427 - 102,427 - Collateralized debt obligations 1,076 - - 1,076 Total securities available-for-sale $ 277,219 $ 9,670 $ 266,473 $ 1,076 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, 2019 $ 2,049 Principal payments (38 ) Total unrealized gains, included in other comprehensive income 52 Transfers in and/or (out) of Level 3 (987 ) Ending balance, December 31, 2019 $ 1,076 Beginning balance, January 1, 2020 $ 1,076 Principal payments (11 ) Total unrealized losses, included in other comprehensive income (250 ) Sale out of Level 3 - Ending balance, June 30, 2020 $ 815 Assets measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at June 30, 2020, Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 6,441 $ - $ - $ 6,441 Foreclosed real estate 634 - - 634 (Dollars in thousands) Fair Value Measurements at December 31, 2019, Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 7,052 $ - $ - $ 7,052 Foreclosed real estate 1,083 - - 1,083 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 June 30, 2020. December 31, 2020. 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 June 30, 2020 Estimated Fair Value Measurements at June 30, 2020 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 97,305 $ 97,305 $ 97,305 $ - $ - Certificates of deposit in other financial institutions 1,639 1,614 - 1,614 - Securities available-for-sale 294,719 294,719 21,457 272,447 815 Loans held-for-sale 10,024 10,311 10,311 - - Loans receivable, net 972,036 989,824 - - 989,824 Federal Home Loan Bank stock 3,918 3,918 - 3,918 - Interest rate swap agreements 3,778 3,778 - 3,778 - Accrued interest receivable 4,284 4,284 - 4,284 - Financial liabilities: Non-interest bearing deposits 262,001 262,001 262,001 - - Interest bearing deposits 1,015,633 1,016,961 720,953 296,008 - Repurchase agreements 17,159 17,166 15,425 1,741 - Borrowed funds 12,000 12,140 - 12,140 - Interest rate swap agreements 3,778 3,778 - 3,778 - Accrued interest payable 65 65 - 65 - December 31, 2019 Estimated Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 47,258 $ 47,258 $ 47,258 $ - $ - Certificates of deposit in other financial institutions 2,170 2,137 - 2,137 - Securities available-for-sale 277,219 277,219 9,670 266,473 1,076 Loans held-for-sale 6,091 6,204 6,204 - - Loans receivable, net 897,870 917,174 - - 917,174 Federal Home Loan Bank stock 3,912 3,912 - 3,912 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest receivable 4,029 4,029 - 4,029 - Financial liabilities: Non-interest bearing deposits 172,094 172,094 172,094 - - Interest bearing deposits 982,276 982,241 654,573 327,668 - Repurchase agreements 11,499 11,499 9,721 1,778 - Borrowed funds 14,000 14,108 - 14,108 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest payable 179 179 - 179 - The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the periods ended June 30, 2020 December 31, 2019: 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) | 6 Months Ended |
Jun. 30, 2020 | |
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 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value June 30, 2020 Money market fund $ 21,457 $ - $ - $ 21,457 Collateralized mortgage obligations and residential mortgage-backed securities 129,789 4,284 - 134,073 Municipal securities 129,754 8,622 (2 ) 138,374 Collateralized debt obligations 2,191 - (1,376 ) 815 Total securities available-for-sale $ 283,191 $ 12,906 $ (1,378 ) $ 294,719 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2019 Money market fund $ 9,670 $ - $ - $ 9,670 U.S. government sponsored entities 12,994 64 - 13,058 Collateralized mortgage obligations and residential mortgage-backed securities 149,339 1,745 (96 ) 150,988 Municipal securities 97,628 4,844 (45 ) 102,427 Collateralized debt obligations 2,202 - (1,126 ) 1,076 Total securities available-for-sale $ 271,833 $ 6,653 $ (1,267 ) $ 277,219 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent June 30, 2020 Value Yield (%) Due in one year or less $ 21,457 0.11 Due from one to five years 3,134 4.79 Due from five to ten years 9,857 4.00 Due over ten years 126,198 3.55 Collateralized mortgage obligations and residential mortgage-backed securities 134,073 2.31 Total $ 294,719 2.76 |
Schedule of Realized Gain (Loss) [Table Text Block] | (Dollars in thousands) June 30, June 30, 2020 2019 Proceeds $ 35,098 $ 30,281 Gross gains 1,237 733 Gross losses (60 ) (81 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Unrealized Ending balance, December 31, 2019 $ 4,261 Current period change 4,853 Ending balance, June 30, 2020 $ 9,114 |
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 June 30, 2020 Collateralized mortgage obligations and residential mortgage-backed securities - - - - - - Municipal securities 1,088 (2 ) - - 1,088 (2 ) Collateralized debt obligations - - 815 (1,376 ) 815 (1,376 ) Total temporarily impaired $ 1,088 $ (2 ) $ 815 $ (1,376 ) $ 1,903 $ (1,378 ) Number of securities 2 2 4 (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, 2019 U.S. government sponsored entities $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations and residential mortgage-backed securities 8,859 (31 ) 15,065 (65 ) 23,924 (96 ) Municipal securities 4,367 (45 ) - - 4,367 (45 ) Collateralized debt obligations - - 1,076 (1,126 ) 1,076 (1,126 ) Total temporarily impaired $ 13,226 $ (76 ) $ 16,141 $ (1,191 ) $ 29,367 $ (1,267 ) Number of securities 11 17 28 |
Note 5 - Loans Receivable (Tabl
Note 5 - Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (Dollars in thousands) June 30, 2020 December 31, 2019 Loans secured by real estate: Residential real estate $ 284,703 $ 299,569 Home equity 46,254 49,118 Commercial real estate 286,122 283,108 Construction and land development 92,982 87,710 Multifamily 56,070 51,286 Farmland 221 227 Total loans secured by real estate 766,352 771,018 Commercial business 181,984 103,222 Consumer 522 627 Manufactured homes 17,806 13,285 Government 13,729 15,804 Subtotal 980,393 903,956 Less: Net deferred loan origination fees 1,411 2,934 Undisbursed loan funds 98 (21 ) Loans receivable $ 981,902 $ 906,869 |
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 June 30, 2020: Allowance for loan losses: Residential real estate $ 1,828 $ (2 ) $ 4 $ (122 ) $ 1,708 Home equity 246 - - (15 ) 231 Commercial real estate 3,693 (80 ) - 99 3,712 Construction and land development 1,223 (17 ) - (5 ) 1,201 Multifamily 562 - - 47 609 Farmland - - - - - Commercial business 1,901 (78 ) 16 536 2,375 Consumer 42 (1 ) 5 (16 ) 30 Manufactured homes - - - - - Government 16 - - (16 ) - Total $ 9,511 $ (178 ) $ 25 $ 508 $ 9,866 Allowance for loan losses: Residential real estate $ 1,680 $ (18 ) $ 4 $ (6 ) $ 1,660 Home equity 194 - 2 6 202 Commercial real estate 3,485 - - 44 3,529 Construction and land development 777 - - 29 806 Multifamily 434 - - 19 453 Farmland - - - - - Commercial business 1,391 - 10 116 1,517 Consumer 254 (7 ) 6 303 556 Manufactured homes - - - - - Government 21 - - - 21 Total $ 8,236 $ (25 ) $ 22 $ 511 $ 8,744 Allowance for loan losses: Residential real estate $ 1,812 $ (2 ) $ 10 $ (112 ) $ 1,708 Home equity 223 - - 8 231 Commercial real estate 3,773 (80 ) - 19 3,712 Construction and land development 1,098 (17 ) - 120 1,201 Multifamily 529 - - 80 609 Farmland - - - - - Commercial business 1,504 (78 ) 17 932 2,375 Consumer 43 (13 ) 8 (8 ) 30 Manufactured homes - - - - - Government 17 - - (17 ) - Total $ 8,999 $ (190 ) $ 35 $ 1,022 $ 9,866 Allowance for loan losses: Residential real estate $ 1,715 $ (66 ) $ 18 $ (7 ) $ 1,660 Home equity 202 - 2 (2 ) 202 Commercial real estate 3,335 - - 194 3,529 Construction and land development 756 - - 50 806 Multifamily 472 - - (19 ) 453 Farmland - - - - - Commercial business 1,362 - 16 139 1,517 Consumer 82 (25 ) 9 490 556 Manufactured homes - - - - - Government 38 - - (17 ) 21 Total $ 7,962 $ (91 ) $ 45 $ 828 $ 8,744 |
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 June 30, 2020: Residential real estate $ 130 $ 1,578 $ 284,563 $ 794 $ 1,470 $ 282,299 Home equity - 231 46,312 230 142 45,940 Commercial real estate 15 3,697 286,122 1,110 152 284,860 Construction and land development - 1,201 92,982 - - 92,982 Multifamily - 609 56,070 112 656 55,302 Farmland - - 221 - - 221 Commercial business 337 2,038 178,863 1,103 1,154 176,606 Consumer - 30 522 - - 522 Manufactured homes - - 22,518 - - 22,518 Government - - 13,729 - - 13,729 Total $ 482 $ 9,384 $ 981,902 $ 3,349 $ 3,574 $ 974,979 Residential real estate $ 10 $ 1,802 $ 299,333 $ 642 $ 1,581 $ 297,110 Home equity 4 219 49,181 221 216 48,744 Commercial real estate - 3,773 283,108 1,078 487 281,543 Construction and land development - 1,098 87,710 - - 87,710 Multifamily - 529 51,286 129 673 50,484 Farmland - - 227 - - 227 Commercial business 152 1,352 103,088 1,041 1,150 100,897 Consumer - 43 627 - - 627 Manufactured homes - - 16,505 - - 16,505 Government - 17 15,804 - - 15,804 Total $ 166 $ 8,833 $ 906,869 $ 3,111 $ 4,107 $ 899,651 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Exposure - Credit Risk Portfolio By Creditworthiness Category June 30, 2020 (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 $ 660 $ 113,209 $ 101,700 $ 13,550 $ 47,117 $ 3,164 $ 5,163 $ 284,563 Home equity 120 6,371 37,894 121 743 565 498 46,312 Commercial real estate - 2,123 71,620 146,373 56,102 6,731 3,173 286,122 Construction and land development - 1,087 28,609 50,274 13,012 - - 92,982 Multifamily - 757 17,409 31,844 5,018 501 541 56,070 Farmland - - - - 221 - - 221 Commercial business 5,256 99,733 16,920 36,300 17,723 1,851 1,080 178,863 Consumer 55 - 467 - - - - 522 Manufactured homes 4,712 2,146 14,663 180 817 - - 22,518 Government - 1,775 10,294 1,660 - - - 13,729 Total $ 10,803 $ 227,201 $ 299,576 $ 280,302 $ 140,753 $ 12,812 $ 10,455 $ 981,902 December 31, 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 $ 827 $ 119,138 $ 104,153 $ 13,463 $ 53,058 $ 4,203 $ 4,491 $ 299,333 Home equity 100 6,536 40,027 264 934 813 507 49,181 Commercial real estate - 2,030 82,158 135,058 56,917 5,380 1,565 283,108 Construction and land development - 719 26,900 45,751 14,340 - - 87,710 Multifamily - 903 18,107 26,800 4,674 - 802 51,286 Farmland - - - - 227 - - 227 Commercial business 8,312 13,158 19,638 39,016 20,009 2,228 727 103,088 Consumer 90 - 537 - - - - 627 Manufactured homes 3,221 2,413 9,825 184 862 - - 16,505 Government - 1,889 11,505 2,410 - - - 15,804 Total $ 12,550 $ 146,786 $ 312,850 $ 262,946 $ 151,021 $ 12,624 $ 8,092 $ 906,869 |
Impaired Financing Receivables [Table Text Block] | For the six months ended As of June 30, 2020 June 30, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 2,077 $ 3,459 $ - $ 2,107 $ 49 Home equity 372 392 - 384 9 Commercial real estate 1,096 1,682 - 1,379 47 Construction and land development - - - - - Multifamily 768 850 - 784 14 Farmland - - - - - Commercial business 1,463 1,517 - 1,588 40 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 187 $ 187 $ 130 $ 107 $ 1 Home equity - - - 5 - Commercial real estate 166 166 15 67 1 Construction and land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 794 794 337 676 19 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,264 $ 3,646 $ 130 $ 2,214 $ 50 Home equity $ 372 $ 392 $ - $ 389 $ 9 Commercial real estate $ 1,262 $ 1,848 $ 15 $ 1,446 $ 48 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 768 $ 850 $ - $ 784 $ 14 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,257 $ 2,311 $ 337 $ 2,264 $ 59 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the six months ended As of December 31, 2019 June 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 $ 2,140 $ 3,555 $ - $ 1,813 $ 31 Home equity 429 451 - 344 3 Commercial real estate 1,547 2,141 - 1,655 33 Construction & land development - - - - - Multifamily 802 884 - 472 3 Farmland - - - - - Commercial business 1,814 1,906 - 1,967 43 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 83 $ 83 $ 10 $ 159 $ 2 Home equity 8 8 4 59 1 Commercial real estate 18 18 - 478 - Construction & land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 377 377 152 145 - Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,223 $ 3,638 $ 10 $ 1,972 $ 33 Home equity $ 437 $ 459 $ 4 $ 403 $ 4 Commercial real estate $ 1,565 $ 2,159 $ - $ 2,133 $ 33 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 802 $ 884 $ - $ 472 $ 3 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,191 $ 2,283 $ 152 $ 2,112 $ 43 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 June 30, 2020 Residential real estate $ 4,741 $ 1,055 $ 3,524 $ 9,320 $ 275,243 $ 284,563 $ 343 Home equity 266 207 389 862 45,450 46,312 49 Commercial real estate 1,693 1,344 1,447 4,484 281,638 286,122 1,194 Construction and land development 672 - - 672 92,310 92,982 - Multifamily - 274 170 444 55,626 56,070 - Farmland - - - - 221 221 - Commercial business 426 150 847 1,423 177,440 178,863 318 Consumer 9 - - 9 513 522 - Manufactured homes 308 293 - 601 21,917 22,518 - Government - - - - 13,729 13,729 - Total $ 8,115 $ 3,323 $ 6,377 $ 17,815 $ 964,087 $ 981,902 $ 1,904 December 31, 2019 Residential real estate $ 3,486 $ 1,332 $ 3,724 $ 8,542 $ 290,791 $ 299,333 $ 452 Home equity 90 24 388 502 48,679 49,181 19 Commercial real estate 1,461 170 719 2,350 280,758 283,108 61 Construction and land development 143 289 - 432 87,278 87,710 - Multifamily 140 - 160 300 50,986 51,286 - Farmland - - - - 227 227 - Commercial business 926 583 870 2,379 100,709 103,088 288 Consumer - - - - 627 627 - Manufactured homes 63 36 46 145 16,360 16,505 46 Government - - - - 15,804 15,804 - Total $ 6,309 $ 2,434 $ 5,907 $ 14,650 $ 892,219 $ 906,869 $ 866 |
Financing Receivable, Nonaccrual [Table Text Block] | June 30, 2020 December 31, 2019 Residential real estate $ 5,135 $ 4,374 Home equity 464 473 Commercial real estate 253 658 Construction and land development - - Multifamily 541 420 Farmland - - Commercial business 1,015 582 Consumer - - Manufactured homes - - Government - - Total $ 7,408 $ 6,507 |
Schedule of Accretable Yield from Financing Receivables [Table Text Block] | (dollars in thousands) First Personal 2019 $ 90 2020 57 (dollars in thousands) First Personal 2020 43 2021 21 Total $ 64 (dollars in thousands) First Federal Liberty Savings First Personal AJSB Total 2019 $ 22 $ 42 $ 357 $ 451 $ 872 2020 - - 285 691 $ 975 (dollars in thousands) First Personal AJSB Total 2020 $ 162 $ 347 $ 509 2021 311 694 1,005 2022 300 694 994 2023 68 287 355 Total $ 841 $ 2,022 $ 2,863 |
Schedule of Financing Receivables Acquired Discount [Table Text Block] | (dollars in thousands) First Federal Liberty Savings First Personal AJSB Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period 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) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | ( Dollars in thousands June 30, 2020 December 31, 2019 Residential real estate $ 524 $ 957 Commercial real estate 110 126 Total $ 634 $ 1,083 |
Note 7 - Intangibles and Acqu_2
Note 7 - Intangibles and Acquisition Related Accounting (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | (dollars in thousands) First Federal Liberty Savings First Personal AJSB Total Current period $ 6 $ 29 $ 238 $ 224 $ 497 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (dollars in thousands) First Federal Liberty Savings First Personal AJSB Total Remainder 2020 6 29 238 224 497 2021 12 58 475 449 994 2022 1 58 475 449 983 2023 - 38 475 449 962 2024 - - 470 449 919 2025 - - - 261 261 2026 - - - - Total $ 19 $ 183 $ 2,133 $ 2,281 $ 4,616 |
Note 9 - Earnings Per Share (Ta
Note 9 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended (Dollars in thousands, except per share data) June 30, June 30, 2020 2019 2020 2019 Basic earnings per common share: Net income as reported $ 5,063 $ 4,023 $ 8,255 $ 6,245 Weighted average common shares outstanding 3,463,136 3,451,961 3,460,820 3,397,872 Basic earnings per common share $ 1.46 $ 1.17 $ 2.39 $ 1.84 Diluted earnings per common share: - Net income as reported $ 5,063 $ 4,023 $ 8,255 $ 6,245 Weighted average common shares outstanding 3,463,136 3,451,961 3,460,820 3,397,872 Weighted average common and dilutive potential common shares outstanding 3,463,136 3,451,961 3,460,820 3,397,872 Diluted earnings per common share $ 1.46 $ 1.17 $ 2.39 $ 1.84 |
Note 10 - Stock Based Compens_2
Note 10 - Stock Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Non-vested Shares Shares Weighted Non-vested at January 1, 2019 27,423 $ 32.58 Granted 7,407 43.00 Vested (4,625 ) 29.37 Forfeited - - Non-vested at December 31, 2019 30,205 $ 35.63 Non-vested at January 1, 2020. 30,205 $ 35.63 Granted 13,243 44.30 Vested (6,400 ) 27.50 Forfeited - - Non-vested at June 30, 2020 37,048 $ 40.13 |
Note 13 - Derivative Financia_2
Note 13 - Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | June 30, 2020 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 38,866 Other assets $ 3,778 Other liabilties $ 3,778 Interest rate lock commitments 35,904 Other assets 485 N/A - Total $ 74,770 $ 4,263 $ 3,778 December 31, 2019 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 29,466 Other assets $ 1,358 Other liabilties $ 1,358 Interest rate lock commitments 12,822 Other assets 186 N/A - Total $ 42,288 $ 1,544 $ 1,358 Six Months Ended June 30, (Dollars in thousands) Statement of Income Classification 2020 2019 Interest rate swap contracts Other income $ 231 $ 338 Interest rate lock commitments Gain on sale of loans held-for-sale, net 298 - Total $ 529 $ 338 |
Offsetting Assets [Table Text Block] | Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount June 30, 2020 Interest rate swap contracts $ 3,778 $ - $ 3,778 $ - $ - $ 3,778 Interest rate lock commitments 485 - 485 - - 485 Total $ 4,263 $ - $ 4,263 $ - $ - $ 4,263 Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ - $ 1,358 Interest rate lock commitments 186 - 186 - - 186 Total $ 1,544 $ - $ 1,544 $ - $ - $ 1,544 |
Offsetting Liabilities [Table Text Block] | Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount March 31, 2020 Interest rate swap contracts $ 3,778 $ - $ 3,778 $ - $ 3,660 $ 118 Total $ 3,778 $ - $ 3,778 $ - $ 3,660 $ 118 Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) Total $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) |
Note 14 - Fair Value (Tables)
Note 14 - Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | (Dollars in Thousands) Collateralized debt obligations other-than-temporary (Dollars in thousands) impairment Ending balance, December 31, 2019 $ 173 Additions not previously recognized - Ending balance, June 30, 2020 $ 173 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2020, 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 $ 21,457 $ 21,457 $ - $ - residential mortgage-backed securities 134,073 - 134,073 - Municipal securities 138,374 - 138,374 - Collateralized debt obligations 815 - - 815 Total securities available-for-sale $ 294,719 $ 21,457 $ 272,447 $ 815 Fair Value Measurements at December 31, 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 $ 9,670 $ 9,670 $ - $ - U.S. government sponsored entities 13,058 - 13,058 - Collateralized mortgage obligations and residential mortgage-backed securities 150,988 - 150,988 - Municipal securities 102,427 - 102,427 - Collateralized debt obligations 1,076 - - 1,076 Total securities available-for-sale $ 277,219 $ 9,670 $ 266,473 $ 1,076 |
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, 2019 $ 2,049 Principal payments (38 ) Total unrealized gains, included in other comprehensive income 52 Transfers in and/or (out) of Level 3 (987 ) Ending balance, December 31, 2019 $ 1,076 Beginning balance, January 1, 2020 $ 1,076 Principal payments (11 ) Total unrealized losses, included in other comprehensive income (250 ) Sale out of Level 3 - Ending balance, June 30, 2020 $ 815 |
Fair Value Measurements, Nonrecurring [Table Text Block] | (Dollars in thousands) Fair Value Measurements at June 30, 2020, Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 6,441 $ - $ - $ 6,441 Foreclosed real estate 634 - - 634 (Dollars in thousands) Fair Value Measurements at December 31, 2019, Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 7,052 $ - $ - $ 7,052 Foreclosed real estate 1,083 - - 1,083 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2020 Estimated Fair Value Measurements at June 30, 2020 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 97,305 $ 97,305 $ 97,305 $ - $ - Certificates of deposit in other financial institutions 1,639 1,614 - 1,614 - Securities available-for-sale 294,719 294,719 21,457 272,447 815 Loans held-for-sale 10,024 10,311 10,311 - - Loans receivable, net 972,036 989,824 - - 989,824 Federal Home Loan Bank stock 3,918 3,918 - 3,918 - Interest rate swap agreements 3,778 3,778 - 3,778 - Accrued interest receivable 4,284 4,284 - 4,284 - Financial liabilities: Non-interest bearing deposits 262,001 262,001 262,001 - - Interest bearing deposits 1,015,633 1,016,961 720,953 296,008 - Repurchase agreements 17,159 17,166 15,425 1,741 - Borrowed funds 12,000 12,140 - 12,140 - Interest rate swap agreements 3,778 3,778 - 3,778 - Accrued interest payable 65 65 - 65 - December 31, 2019 Estimated Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 47,258 $ 47,258 $ 47,258 $ - $ - Certificates of deposit in other financial institutions 2,170 2,137 - 2,137 - Securities available-for-sale 277,219 277,219 9,670 266,473 1,076 Loans held-for-sale 6,091 6,204 6,204 - - Loans receivable, net 897,870 917,174 - - 917,174 Federal Home Loan Bank stock 3,912 3,912 - 3,912 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest receivable 4,029 4,029 - 4,029 - Financial liabilities: Non-interest bearing deposits 172,094 172,094 172,094 - - Interest bearing deposits 982,276 982,241 654,573 327,668 - Repurchase agreements 11,499 11,499 9,721 1,778 - Borrowed funds 14,000 14,108 - 14,108 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest payable 179 179 - 179 - |
Note 3 - Acquisition Activity_2
Note 3 - Acquisition Activity (Details Textual) $ / shares in Units, $ in Thousands | Jan. 24, 2019USD ($)$ / sharesshares | Jan. 23, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) |
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ | $ 0 | $ 15,743 | ||
AJS Bancorp, Inc [Member] | ||||
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Stockholders Holding 100 Shares or More (in shares) | shares | 0.2030 | |||
Business Acquisition, Cash Paid Per Share of Acquired Company, Stockholders Holding 100 or More Shares (in dollars per share) | $ / shares | $ 7.20 | |||
Business Acquisition, Cash Paid Per Share of Acquired Company, Holding Less Than 100 Shares (in dollars per share) | $ / shares | $ 16 | |||
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Less Than 100 Shares (in shares) | shares | 0 | |||
Business Acquisition, Fractional Shares Multiplier (in dollars per share) | $ / shares | $ 43.01 | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 416,478 | |||
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ | $ 15,743 | $ 15,700 | ||
Business Combination, Consideration Transferred, Total | $ | $ 33,235 | 33,200 | ||
Business Acquisition, Transaction Costs | $ | $ 2,100 | |||
Number of Banking Centers | 22 | |||
AJS Bancorp, Inc [Member] | Maximum [Member] | ||||
Business Acquisition, Number of Held Shares of Acquired Company (in shares) | shares | 100 |
Note 3 - Acquisition Activity -
Note 3 - Acquisition Activity - Fair Value of Tangible and Intangible Assets Acquired and Liabilities Assumed From AJSB (Details) - USD ($) $ in Thousands | Jan. 24, 2019 | Jan. 23, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 |
Goodwill | $ 11,109 | $ 11,109 | |||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 0 | $ 15,743 | |||
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 | $ 15,700 | |||
Total purchase price | 33,235 | $ 33,200 | |||
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 | Jun. 30, 2020 | Dec. 31, 2019 |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 116.8 | $ 65.5 |
Note 4 - Securities - Available
Note 4 - Securities - Available for Sale Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Available for sale securities, cost basis | $ 283,191 | $ 271,833 |
Available for sale securities, gross unrealized gains | 12,906 | 6,653 |
Available for sale securities, gross unrealized losses | (1,378) | (1,267) |
Total securities available-for-sale | 294,719 | 277,219 |
Money Market Funds [Member] | ||
Available for sale securities, cost basis | 21,457 | 9,670 |
Available for sale securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | 0 | 0 |
Total securities available-for-sale | 21,457 | 9,670 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Available for sale securities, cost basis | 129,789 | 149,339 |
Available for sale securities, gross unrealized gains | 4,284 | 1,745 |
Available for sale securities, gross unrealized losses | 0 | (96) |
Total securities available-for-sale | 134,073 | 150,988 |
US Treasury Securities [Member] | ||
Available for sale securities, cost basis | 12,994 | |
Available for sale securities, gross unrealized gains | 64 | |
Available for sale securities, gross unrealized losses | 0 | |
Total securities available-for-sale | 13,058 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, cost basis | 129,754 | 97,628 |
Available for sale securities, gross unrealized gains | 8,622 | 4,844 |
Available for sale securities, gross unrealized losses | (2) | (45) |
Total securities available-for-sale | 138,374 | 102,427 |
Collateralized Debt Obligations [Member] | ||
Available for sale securities, cost basis | 2,191 | 2,202 |
Available for sale securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (1,376) | (1,126) |
Total securities available-for-sale | $ 815 | $ 1,076 |
Note 4 - Securities - Estimated
Note 4 - Securities - Estimated Fair Value of Available for Sale Securities, by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Available for sale securities, due in one year or less, estimated fair value | $ 21,457 | |
Available for sale securities, due in one year or less, tax-equivalent yield | 0.11% | |
Available for sale securities, due from one to five years, estimated fair value | $ 3,134 | |
Available for sale securities, due from one to five years, tax-equivalent yield | 4.79% | |
Available for sale securities, due from five to ten years, estimated fair value | $ 9,857 | |
Available for sale securities, due from five to ten years, tax-equivalent yield | 4.00% | |
Available for sale securities, due over ten years, estimated fair value | $ 126,198 | |
Available for sale securities, due over ten years, tax-equivalent yield | 3.55% | |
Collateralized mortgage obligations and residential mortgage-backed securities, estimated fair value | $ 134,073 | |
Collateralized mortgage obligations and residential mortgage-backed securities, tax-equivalent yield | 2.31% | |
Total securities available-for-sale | $ 294,719 | $ 277,219 |
Available for sale securities, tax-equivalent yield | 2.76% |
Note 4 - Securities - Sales of
Note 4 - Securities - Sales of Available for Sale Securities (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Proceeds | $ 35,098 | $ 30,281 |
Gross gains | 1,237 | 733 |
Gross losses | $ (60) | $ (81) |
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 | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Ending balance | $ 4,261 | |||
Current period change | $ 428 | $ 2,593 | 4,853 | $ 5,626 |
Ending balance | $ 9,114 | $ 9,114 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities with Gross Unrealized Losses Not Recognized in Income (Details) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Estimated fair value, less than 12 months | $ 1,088 | $ 13,226 |
Unrealized losses, less than 12 months | (2) | (76) |
Estimated fair value, 12 months or longer | 815 | 16,141 |
Unrealized losses, 12 months or longer | (1,376) | (1,191) |
Estimated fair value, total | 1,903 | 29,367 |
Unrealized losses, total | $ (1,378) | $ (1,267) |
Unrealized losses, less than 12 months, number of securities | 2 | 11 |
Unrealized losses, 12 months or longer, number of securities | 2 | 17 |
Unrealized losses, total, number of securities | 4 | 28 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Estimated fair value, less than 12 months | $ 0 | $ 8,859 |
Unrealized losses, less than 12 months | 0 | (31) |
Estimated fair value, 12 months or longer | 0 | 15,065 |
Unrealized losses, 12 months or longer | 0 | (65) |
Estimated fair value, total | 0 | 23,924 |
Unrealized losses, total | 0 | (96) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Estimated fair value, less than 12 months | 0 | |
Unrealized losses, less than 12 months | 0 | |
Estimated fair value, 12 months or longer | 0 | |
Unrealized losses, 12 months or longer | 0 | |
Estimated fair value, total | 0 | |
Unrealized losses, total | 0 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Estimated fair value, less than 12 months | 1,088 | 4,367 |
Unrealized losses, less than 12 months | (2) | (45) |
Estimated fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Estimated fair value, total | 1,088 | 4,367 |
Unrealized losses, total | (2) | (45) |
Collateralized Debt Obligations [Member] | ||
Estimated fair value, less than 12 months | 0 | 0 |
Unrealized losses, less than 12 months | 0 | 0 |
Estimated fair value, 12 months or longer | 815 | 1,076 |
Unrealized losses, 12 months or longer | (1,376) | (1,126) |
Estimated fair value, total | 815 | 1,076 |
Unrealized losses, total | $ (1,376) | $ (1,126) |
Note 5 - Loans Receivable (Deta
Note 5 - Loans Receivable (Details Textual) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | $ 1,411 | $ 2,934 |
Impaired Financing Receivable, Recorded Investment, Total | 6,900 | 7,200 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 5,700 | 6,300 |
Impaired Financing Receivable, Recorded Investment, Total | 3,600 | 4,100 |
Manufactured Homes Portfolio Segment [Member] | ||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | 2,700 | 1,900 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 0 | 0 |
Impaired Financing Receivable, Recorded Investment, Total | $ 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 148 | |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 1,848 | 2,159 |
Impaired Financing Receivable, Recorded Investment, Total | $ 1,262 | 1,565 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 52 | |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 3,646 | 3,638 |
Impaired Financing Receivable, Recorded Investment, Total | $ 2,264 | 2,223 |
Home Equity Loan [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 24 | |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 294 | |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 2,311 | 2,283 |
Impaired Financing Receivable, Recorded Investment, Total | $ 2,257 | $ 2,191 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 |
Note 5 - Loans Receivable - Loa
Note 5 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Total loans secured by real estate | $ 766,352 | $ 771,018 |
Total loans | 980,393 | 903,956 |
Net deferred loan origination fees | 1,411 | 2,934 |
Undisbursed loan funds | 98 | (21) |
Loans receivable | 981,902 | 906,869 |
Residential Portfolio Segment [Member] | ||
Total loans secured by real estate | 284,703 | 299,569 |
Loans receivable | 284,563 | 299,333 |
Home Equity Portfolio Segment [Member] | ||
Total loans secured by real estate | 46,254 | 49,118 |
Loans receivable | 46,312 | 49,181 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans secured by real estate | 286,122 | 283,108 |
Loans receivable | 286,122 | 283,108 |
Construction and Land Development Portfolio Segment [Member] | ||
Total loans secured by real estate | 92,982 | 87,710 |
Loans receivable | 92,982 | 87,710 |
Multifamily Portfolio Segment [Member] | ||
Total loans secured by real estate | 56,070 | 51,286 |
Loans receivable | 56,070 | 51,286 |
Farmland Portfolio Segment [Member] | ||
Total loans secured by real estate | 221 | 227 |
Loans receivable | 221 | 227 |
Commercial Portfolio Segment [Member] | ||
Total loans | 181,984 | 103,222 |
Loans receivable | 178,863 | 103,088 |
Consumer Portfolio Segment [Member] | ||
Total loans | 522 | 627 |
Loans receivable | 522 | 627 |
Manufactured Homes Portfolio Segment [Member] | ||
Total loans | 17,806 | 13,285 |
Net deferred loan origination fees | 2,700 | 1,900 |
Loans receivable | 22,518 | 16,505 |
Government Portfolio Segment [Member] | ||
Total loans | 13,729 | 15,804 |
Loans receivable | $ 13,729 | $ 15,804 |
Note 5 - Loans Receivable - All
Note 5 - Loans Receivable - Allowance for Loan Losses, by Loan Segment (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Beginning Balance | $ 9,511,000 | $ 8,236,000 | $ 8,999,000 | $ 7,962,000 |
Charge-offs | (178,000) | (25,000) | (190,000) | (91,000) |
Recoveries | 25,000 | 22,000 | 35,000 | 45,000 |
Provisions | 508,000 | 511,000 | 1,022,000 | 828,000 |
Ending Balance | 9,866,000 | 8,744,000 | 9,866,000 | 8,744,000 |
Charge-offs | 178,000 | 25,000 | 190,000 | 91,000 |
Residential Portfolio Segment [Member] | ||||
Beginning Balance | 1,828,000 | 1,680,000 | 1,812,000 | 1,715,000 |
Charge-offs | (2,000) | (18,000) | (2,000) | (66,000) |
Recoveries | 4,000 | 4,000 | 10,000 | 18,000 |
Provisions | (122,000) | (6,000) | (112,000) | (7,000) |
Ending Balance | 1,708,000 | 1,660,000 | 1,708,000 | 1,660,000 |
Charge-offs | 2,000 | 18,000 | 2,000 | 66,000 |
Home Equity Portfolio Segment [Member] | ||||
Beginning Balance | 246,000 | 194,000 | 223,000 | 202,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 2,000 | 0 | 2,000 |
Provisions | (15,000) | 6,000 | 8,000 | (2,000) |
Ending Balance | 231,000 | 202,000 | 231,000 | 202,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning Balance | 3,693,000 | 3,485,000 | 3,773,000 | 3,335,000 |
Charge-offs | (80,000) | 0 | (80,000) | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 99,000 | 44,000 | 19,000 | 194,000 |
Ending Balance | 3,712,000 | 3,529,000 | 3,712,000 | 3,529,000 |
Charge-offs | 80,000 | 0 | 80,000 | 0 |
Construction and Land Development Portfolio Segment [Member] | ||||
Beginning Balance | 1,223,000 | 777,000 | 1,098,000 | 756,000 |
Charge-offs | (17,000) | 0 | (17,000) | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | (5,000) | 29,000 | 120,000 | 50,000 |
Ending Balance | 1,201,000 | 806,000 | 1,201,000 | 806,000 |
Charge-offs | 17,000 | 0 | 17,000 | 0 |
Multifamily Portfolio Segment [Member] | ||||
Beginning Balance | 562,000 | 434,000 | 529,000 | 472,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 47,000 | 19,000 | 80,000 | (19,000) |
Ending Balance | 609,000 | 453,000 | 609,000 | 453,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Farmland Portfolio Segment [Member] | ||||
Beginning Balance | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 0 | 0 | 0 | 0 |
Ending Balance | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | ||||
Beginning Balance | 1,901,000 | 1,391,000 | 1,504,000 | 1,362,000 |
Charge-offs | (78,000) | 0 | (78,000) | 0 |
Recoveries | 16,000 | 10,000 | 17,000 | 16,000 |
Provisions | 536,000 | 116,000 | 932,000 | 139,000 |
Ending Balance | 2,375,000 | 1,517,000 | 2,375,000 | 1,517,000 |
Charge-offs | 78,000 | 0 | 78,000 | 0 |
Consumer Portfolio Segment [Member] | ||||
Beginning Balance | 42,000 | 254,000 | 43,000 | 82,000 |
Charge-offs | (1,000) | (7,000) | (13,000) | (25,000) |
Recoveries | 5,000 | 6,000 | 8,000 | 9,000 |
Provisions | (16,000) | 303,000 | (8,000) | 490,000 |
Ending Balance | 30,000 | 556,000 | 30,000 | 556,000 |
Charge-offs | 1,000 | 7,000 | 13,000 | 25,000 |
Manufactured Homes Portfolio Segment [Member] | ||||
Beginning Balance | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 0 | 0 | 0 | 0 |
Ending Balance | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Government Portfolio Segment [Member] | ||||
Beginning Balance | 16,000 | 21,000 | 17,000 | 38,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | (16,000) | 0 | (17,000) | (17,000) |
Ending Balance | 0 | 21,000 | 0 | 21,000 |
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 |
Note 5 - Loans Receivable - Imp
Note 5 - Loans Receivable - Impairment Analysis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Allowance individually evaluated for impairment reserves | $ 482 | $ 166 |
Allowance collectively evaluated for impairment reserves | 9,384 | 8,833 |
Loans receivable | 981,902 | 906,869 |
Loans receivable individually evaluated for impairment | 3,349 | 3,111 |
Loans receivable purchased credit impaired individually evaluated for impairment | 3,574 | 4,107 |
Loans receivable collectively evaluated for impairment | 974,979 | 899,651 |
Residential Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 130 | 10 |
Allowance collectively evaluated for impairment reserves | 1,578 | 1,802 |
Loans receivable | 284,563 | 299,333 |
Loans receivable individually evaluated for impairment | 794 | 642 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,470 | 1,581 |
Loans receivable collectively evaluated for impairment | 282,299 | 297,110 |
Home Equity Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 4 |
Allowance collectively evaluated for impairment reserves | 231 | 219 |
Loans receivable | 46,312 | 49,181 |
Loans receivable individually evaluated for impairment | 230 | 221 |
Loans receivable purchased credit impaired individually evaluated for impairment | 142 | 216 |
Loans receivable collectively evaluated for impairment | 45,940 | 48,744 |
Commercial Real Estate Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 15 | 0 |
Allowance collectively evaluated for impairment reserves | 3,697 | 3,773 |
Loans receivable | 286,122 | 283,108 |
Loans receivable individually evaluated for impairment | 1,110 | 1,078 |
Loans receivable purchased credit impaired individually evaluated for impairment | 152 | 487 |
Loans receivable collectively evaluated for impairment | 284,860 | 281,543 |
Construction and Land Development Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 1,201 | 1,098 |
Loans receivable | 92,982 | 87,710 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 92,982 | 87,710 |
Multifamily Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 609 | 529 |
Loans receivable | 56,070 | 51,286 |
Loans receivable individually evaluated for impairment | 112 | 129 |
Loans receivable purchased credit impaired individually evaluated for impairment | 656 | 673 |
Loans receivable collectively evaluated for impairment | 55,302 | 50,484 |
Farmland Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 0 |
Loans receivable | 221 | 227 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 221 | 227 |
Commercial Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 337 | 152 |
Allowance collectively evaluated for impairment reserves | 2,038 | 1,352 |
Loans receivable | 178,863 | 103,088 |
Loans receivable individually evaluated for impairment | 1,103 | 1,041 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,154 | 1,150 |
Loans receivable collectively evaluated for impairment | 176,606 | 100,897 |
Consumer Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 30 | 43 |
Loans receivable | 522 | 627 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 522 | 627 |
Manufactured Homes Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 0 |
Loans receivable | 22,518 | 16,505 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 22,518 | 16,505 |
Government Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 17 |
Loans receivable | 13,729 | 15,804 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | $ 13,729 | $ 15,804 |
Note 5 - Loans Receivable - Cre
Note 5 - Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loan Receivable | $ 981,902 | $ 906,869 |
Moderate [Member] | ||
Loan Receivable | 10,803 | 12,550 |
Above Average Acceptable [Member] | ||
Loan Receivable | 227,201 | 146,786 |
Acceptable [Member] | ||
Loan Receivable | 299,576 | 312,850 |
Marginally Acceptable [Member] | ||
Loan Receivable | 280,302 | 262,946 |
Pass [Member] | ||
Loan Receivable | 140,753 | 151,021 |
Special Mention [Member] | ||
Loan Receivable | 12,812 | 12,624 |
Substandard [Member] | ||
Loan Receivable | 10,455 | 8,092 |
Residential Portfolio Segment [Member] | ||
Loan Receivable | 284,563 | 299,333 |
Residential Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 660 | 827 |
Residential Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 113,209 | 119,138 |
Residential Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 101,700 | 104,153 |
Residential Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 13,550 | 13,463 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 47,117 | 53,058 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 3,164 | 4,203 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 5,163 | 4,491 |
Home Equity Portfolio Segment [Member] | ||
Loan Receivable | 46,312 | 49,181 |
Home Equity Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 120 | 100 |
Home Equity Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 6,371 | 6,536 |
Home Equity Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 37,894 | 40,027 |
Home Equity Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 121 | 264 |
Home Equity Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 743 | 934 |
Home Equity Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 565 | 813 |
Home Equity Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 498 | 507 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan Receivable | 286,122 | 283,108 |
Commercial Real Estate Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 2,123 | 2,030 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 71,620 | 82,158 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 146,373 | 135,058 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 56,102 | 56,917 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 6,731 | 5,380 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 3,173 | 1,565 |
Construction and Land Development Portfolio Segment [Member] | ||
Loan Receivable | 92,982 | 87,710 |
Construction and Land Development Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 1,087 | 719 |
Construction and Land Development Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 28,609 | 26,900 |
Construction and Land Development Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 50,274 | 45,751 |
Construction and Land Development Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 13,012 | 14,340 |
Construction and Land Development Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
Loan Receivable | 56,070 | 51,286 |
Multifamily Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Multifamily Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 757 | 903 |
Multifamily Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 17,409 | 18,107 |
Multifamily Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 31,844 | 26,800 |
Multifamily Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 5,018 | 4,674 |
Multifamily Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 501 | 0 |
Multifamily Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 541 | 802 |
Farmland Portfolio Segment [Member] | ||
Loan Receivable | 221 | 227 |
Farmland Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 221 | 227 |
Farmland Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loan Receivable | 178,863 | 103,088 |
Commercial Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 5,256 | 8,312 |
Commercial Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 99,733 | 13,158 |
Commercial Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 16,920 | 19,638 |
Commercial Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 36,300 | 39,016 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 17,723 | 20,009 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 1,851 | 2,228 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 1,080 | 727 |
Consumer Portfolio Segment [Member] | ||
Loan Receivable | 522 | 627 |
Consumer Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 55 | 90 |
Consumer Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 467 | 537 |
Consumer Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | ||
Loan Receivable | 22,518 | 16,505 |
Manufactured Homes Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 4,712 | 3,221 |
Manufactured Homes Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 2,146 | 2,413 |
Manufactured Homes Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 14,663 | 9,825 |
Manufactured Homes Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 180 | 184 |
Manufactured Homes Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 817 | 862 |
Manufactured Homes Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | ||
Loan Receivable | 13,729 | 15,804 |
Government Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 1,775 | 1,889 |
Government Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 10,294 | 11,505 |
Government Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 1,660 | 2,410 |
Government Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | $ 0 | $ 0 |
Note 5 - Loans Receivable - Ind
Note 5 - Loans Receivable - Individually Evaluated Impaired Loans (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Impaired Financing Receivable, Related Allowance | $ 482,000 | $ 166,000 | |
Total, recorded investment | 6,900,000 | 7,200,000 | |
Total, related allowance | 482,000 | 166,000 | |
Residential Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 2,077,000 | 2,140,000 | |
With no related allowance recorded, unpaid principal balance | 3,459,000 | 3,555,000 | |
With no related allowance recorded, average recorded investment | 2,107,000 | $ 1,813,000 | |
With no related allowance recorded, interest income recognized | 49,000 | 31,000 | |
With an allowance recorded, recorded investment | 187,000 | 83,000 | |
With an allowance recorded, unpaid principal balance | 187,000 | 83,000 | |
Impaired Financing Receivable, Related Allowance | 130,000 | 10,000 | |
With an allowance recorded, average recorded investment | 107,000 | 159,000 | |
With an allowance recorded, interest income recognized | 1,000 | 2,000 | |
Total, recorded investment | 2,264,000 | 2,223,000 | |
Total, unpaid principal balance | 3,646,000 | 3,638,000 | |
Total, average recorded investment | 2,214,000 | 1,972,000 | |
Total, interest income recognized | 50,000 | 33,000 | |
Total, related allowance | 130,000 | 10,000 | |
Home Equity Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 372,000 | 429,000 | |
With no related allowance recorded, unpaid principal balance | 392,000 | 451,000 | |
With no related allowance recorded, average recorded investment | 384,000 | 344,000 | |
With no related allowance recorded, interest income recognized | 9,000 | 3,000 | |
With an allowance recorded, recorded investment | 0 | 8,000 | |
With an allowance recorded, unpaid principal balance | 0 | 8,000 | |
Impaired Financing Receivable, Related Allowance | 0 | 4,000 | |
With an allowance recorded, average recorded investment | 5,000 | 59,000 | |
With an allowance recorded, interest income recognized | 0 | 1,000 | |
Total, recorded investment | 372,000 | 437,000 | |
Total, unpaid principal balance | 392,000 | 459,000 | |
Total, average recorded investment | 389,000 | 403,000 | |
Total, interest income recognized | 9,000 | 4,000 | |
Total, related allowance | 0 | 4,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 1,096,000 | 1,547,000 | |
With no related allowance recorded, unpaid principal balance | 1,682,000 | 2,141,000 | |
With no related allowance recorded, average recorded investment | 1,379,000 | 1,655,000 | |
With no related allowance recorded, interest income recognized | 47,000 | 33,000 | |
With an allowance recorded, recorded investment | 166,000 | 18,000 | |
With an allowance recorded, unpaid principal balance | 166,000 | 18,000 | |
Impaired Financing Receivable, Related Allowance | 15,000 | 0 | |
With an allowance recorded, average recorded investment | 67,000 | 478,000 | |
With an allowance recorded, interest income recognized | 1,000 | 0 | |
Total, recorded investment | 1,262,000 | 1,565,000 | |
Total, unpaid principal balance | 1,848,000 | 2,159,000 | |
Total, average recorded investment | 1,446,000 | 2,133,000 | |
Total, interest income recognized | 48,000 | 33,000 | |
Total, related allowance | 15,000 | 0 | |
Construction and Land Development Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 0 | 0 | |
With no related allowance recorded, unpaid principal balance | 0 | 0 | |
With no related allowance recorded, average recorded investment | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
With an allowance recorded, average recorded investment | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | |
Total, recorded investment | 0 | 0 | |
Total, unpaid principal balance | 0 | 0 | |
Total, average recorded investment | 0 | 0 | |
Total, interest income recognized | 0 | 0 | |
Total, related allowance | 0 | 0 | |
Multifamily Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 768,000 | 802,000 | |
With no related allowance recorded, unpaid principal balance | 850,000 | 884,000 | |
With no related allowance recorded, average recorded investment | 784,000 | 472,000 | |
With no related allowance recorded, interest income recognized | 14,000 | 3,000 | |
With an allowance recorded, recorded investment | 0 | 0 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
With an allowance recorded, average recorded investment | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | |
Total, recorded investment | 768,000 | 802,000 | |
Total, unpaid principal balance | 850,000 | 884,000 | |
Total, average recorded investment | 784,000 | 472,000 | |
Total, interest income recognized | 14,000 | 3,000 | |
Total, related allowance | 0 | 0 | |
Farmland Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 0 | 0 | |
With no related allowance recorded, unpaid principal balance | 0 | 0 | |
With no related allowance recorded, average recorded investment | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
With an allowance recorded, average recorded investment | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | |
Total, recorded investment | 0 | 0 | |
Total, unpaid principal balance | 0 | 0 | |
Total, average recorded investment | 0 | 0 | |
Total, interest income recognized | 0 | 0 | |
Total, related allowance | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 1,463,000 | 1,814,000 | |
With no related allowance recorded, unpaid principal balance | 1,517,000 | 1,906,000 | |
With no related allowance recorded, average recorded investment | 1,588,000 | 1,967,000 | |
With no related allowance recorded, interest income recognized | 40,000 | 43,000 | |
With an allowance recorded, recorded investment | 794,000 | 377,000 | |
With an allowance recorded, unpaid principal balance | 794,000 | 377,000 | |
Impaired Financing Receivable, Related Allowance | 337,000 | 152,000 | |
With an allowance recorded, average recorded investment | 676,000 | 145,000 | |
With an allowance recorded, interest income recognized | 19,000 | 0 | |
Total, recorded investment | 2,257,000 | 2,191,000 | |
Total, unpaid principal balance | 2,311,000 | 2,283,000 | |
Total, average recorded investment | 2,264,000 | 2,112,000 | |
Total, interest income recognized | 59,000 | 43,000 | |
Total, related allowance | 337,000 | 152,000 | |
Consumer Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 0 | 0 | |
With no related allowance recorded, unpaid principal balance | 0 | 0 | |
With no related allowance recorded, average recorded investment | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
With an allowance recorded, average recorded investment | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | |
Total, recorded investment | 0 | 0 | |
Total, unpaid principal balance | 0 | 0 | |
Total, average recorded investment | 0 | 0 | |
Total, interest income recognized | 0 | 0 | |
Total, related allowance | 0 | 0 | |
Manufactured Homes Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 0 | 0 | |
With no related allowance recorded, unpaid principal balance | 0 | 0 | |
With no related allowance recorded, average recorded investment | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
With an allowance recorded, average recorded investment | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | |
Total, recorded investment | 0 | 0 | |
Total, unpaid principal balance | 0 | 0 | |
Total, average recorded investment | 0 | 0 | |
Total, interest income recognized | 0 | 0 | |
Total, related allowance | 0 | 0 | |
Government Portfolio Segment [Member] | |||
With no related allowance recorded, recorded investment | 0 | 0 | |
With no related allowance recorded, unpaid principal balance | 0 | 0 | |
With no related allowance recorded, average recorded investment | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | |
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
With an allowance recorded, average recorded investment | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | |
Total, recorded investment | 0 | 0 | |
Total, unpaid principal balance | 0 | 0 | |
Total, average recorded investment | 0 | 0 | |
Total, interest income recognized | 0 | $ 0 | |
Total, related allowance | $ 0 | $ 0 |
Note 5 - Loans Receivable - Age
Note 5 - Loans Receivable - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Total Past Due | $ 17,815 | $ 14,650 |
Current | 964,087 | 892,219 |
Total Loans | 981,902 | 906,869 |
Recorded investments greater than 90 past due and still accruing | 1,904 | 866 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 8,115 | 6,309 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 3,323 | 2,434 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 6,377 | 5,907 |
Residential Portfolio Segment [Member] | ||
Total Past Due | 9,320 | 8,542 |
Current | 275,243 | 290,791 |
Total Loans | 284,563 | 299,333 |
Recorded investments greater than 90 past due and still accruing | 343 | 452 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 4,741 | 3,486 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 1,055 | 1,332 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 3,524 | 3,724 |
Home Equity Portfolio Segment [Member] | ||
Total Past Due | 862 | 502 |
Current | 45,450 | 48,679 |
Total Loans | 46,312 | 49,181 |
Recorded investments greater than 90 past due and still accruing | 49 | 19 |
Home Equity Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 266 | 90 |
Home Equity Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 207 | 24 |
Home Equity Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 389 | 388 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total Past Due | 4,484 | 2,350 |
Current | 281,638 | 280,758 |
Total Loans | 286,122 | 283,108 |
Recorded investments greater than 90 past due and still accruing | 1,194 | 61 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 1,693 | 1,461 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 1,344 | 170 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 1,447 | 719 |
Construction and Land Development Portfolio Segment [Member] | ||
Total Past Due | 672 | 432 |
Current | 92,310 | 87,278 |
Total Loans | 92,982 | 87,710 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 672 | 143 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 289 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
Total Past Due | 444 | 300 |
Current | 55,626 | 50,986 |
Total Loans | 56,070 | 51,286 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Multifamily Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 0 | 140 |
Multifamily Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 274 | 0 |
Multifamily Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 170 | 160 |
Farmland Portfolio Segment [Member] | ||
Total Past Due | 0 | 0 |
Current | 221 | 227 |
Total Loans | 221 | 227 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Total Past Due | 1,423 | 2,379 |
Current | 177,440 | 100,709 |
Total Loans | 178,863 | 103,088 |
Recorded investments greater than 90 past due and still accruing | 318 | 288 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 426 | 926 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 150 | 583 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 847 | 870 |
Consumer Portfolio Segment [Member] | ||
Total Past Due | 9 | 0 |
Current | 513 | 627 |
Total Loans | 522 | 627 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 9 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | ||
Total Past Due | 601 | 145 |
Current | 21,917 | 16,360 |
Total Loans | 22,518 | 16,505 |
Recorded investments greater than 90 past due and still accruing | 0 | 46 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 308 | 63 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 293 | 36 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 0 | 46 |
Government Portfolio Segment [Member] | ||
Total Past Due | 0 | 0 |
Current | 13,729 | 15,804 |
Total Loans | 13,729 | 15,804 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Government Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Government Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Government Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | $ 0 | $ 0 |
Note 5 - Loans Receivable - L_2
Note 5 - Loans Receivable - Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Financing receivables on nonaccrual status | $ 7,408 | $ 6,507 |
Residential Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 5,135 | 4,374 |
Home Equity Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 464 | 473 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 253 | 658 |
Construction and Land Development Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 541 | 420 |
Farmland Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 1,015 | 582 |
Consumer Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Government Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | $ 0 | $ 0 |
Note 5 - Loans Receivable - Acc
Note 5 - Loans Receivable - Accretable Yield (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Mar. 31, 2020 | Jun. 30, 2020 | |
2018, accretable yield collected | $ 872 | |
2019, accretable yield collected | 975 | |
First Personal Financial Corporation [Member] | ||
2018, accretable yield collected | 357 | |
2019, accretable yield collected | 285 | |
2020, to be collected | $ 1,005 | |
2021, to be collected | 994 | |
Total | 2,863 | |
2020, to be collected | 509 | |
2023, to be collected | 355 | |
First Federal Savings and Loan [Member] | ||
2018, accretable yield collected | 22 | |
2019, accretable yield collected | 0 | |
2020, to be collected | 311 | |
2021, to be collected | 300 | |
Total | 841 | |
2020, to be collected | 162 | |
2023, to be collected | 68 | |
Liberty Savings Bank [Member] | ||
2018, accretable yield collected | 42 | |
2019, accretable yield collected | 0 | |
2020, to be collected | 694 | |
2021, to be collected | 694 | |
Total | 2,022 | |
2020, to be collected | 347 | |
2023, to be collected | 287 | |
AJS Bancorp, Inc [Member] | ||
2018, accretable yield collected | 451 | |
2019, accretable yield collected | $ 691 | |
Financial Asset Acquired with Credit Deterioration [Member] | First Personal Financial Corporation [Member] | ||
2018, accretable yield collected | 90 | |
2019, accretable yield collected | 57 | |
2020, to be collected | 43 | |
2021, to be collected | 21 | |
Total | $ 64 |
Note 5 - Loans Receivable - Net
Note 5 - Loans Receivable - Net Fair Value Discount on Loans Receivable Acquired (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
First Federal Savings and Loan [Member] | |
Net fair value discount | $ 1,106 |
First Federal Savings and Loan [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | 0 |
Liberty Savings Bank [Member] | |
Net fair value discount | 1,208 |
Liberty Savings Bank [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | 0 |
First Personal Financial Corporation [Member] | |
Net fair value discount | 2,137 |
First Personal Financial Corporation [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | $ 424 |
Accretable period in months (Month) | 32 months |
AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 3,886 |
AJS Bancorp, Inc [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | 0 |
Residential Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 1,062 |
Accretable period in months (Month) | 59 months |
Residential Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | $ 1,203 |
Accretable period in months (Month) | 44 months |
Residential Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 948 |
Accretable period in months (Month) | 56 months |
Residential Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 3,734 |
Accretable period in months (Month) | 52 months |
Home Equity Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 44 |
Accretable period in months (Month) | 29 months |
Home Equity Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | $ 5 |
Accretable period in months (Month) | 29 months |
Home Equity Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 51 |
Accretable period in months (Month) | 50 months |
Home Equity Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 141 |
Accretable period in months (Month) | 32 months |
Commercial Real Estate Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Commercial Real Estate Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 208 |
Accretable period in months (Month) | 56 months |
Commercial Real Estate Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 8 |
Accretable period in months (Month) | 9 months |
Construction and Land Development Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Construction and Land Development Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Construction and Land Development Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 1 |
Accretable period in months (Month) | 30 months |
Construction and Land Development Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 0 |
Multifamily Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | 0 |
Multifamily Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Multifamily Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 11 |
Accretable period in months (Month) | 48 months |
Multifamily Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 2 |
Accretable period in months (Month) | 48 months |
Consumer Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Consumer Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Consumer Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 146 |
Accretable period in months (Month) | 50 months |
Consumer Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 1 |
Accretable period in months (Month) | 5 months |
Commercial Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Commercial Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Commercial Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 348 |
Accretable period in months (Month) | 24 months |
Commercial Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 0 |
Note 6 - Foreclosed Real Esta_3
Note 6 - Foreclosed Real Estate - Foreclosed Real Estate (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Foreclosed real estate | $ 634 | $ 1,083 |
Residential Portfolio Segment [Member] | ||
Foreclosed real estate | 524 | 957 |
Commercial Real Estate Portfolio Segment [Member] | ||
Foreclosed real estate | $ 110 | $ 126 |
Note 7 - Intangibles and Acqu_3
Note 7 - Intangibles and Acquisition Related Accounting (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jan. 24, 2019 | |
Goodwill, Ending Balance | $ 11,109 | $ 11,109 | |
Goodwill, Impairment Loss | 0 | ||
AJS Bancorp, Inc [Member] | |||
Goodwill, Ending Balance | 2,900 | $ 2,939 | |
Certificates of Deposit, Fair Value Premium | $ 174 | ||
Certificates of Deposit, Fair Value Premium, Amortization Period (Month) | 14 months | ||
Accretion (Amortization) of Discounts and Premiums, Investments | $ 34,000 | ||
AJS Bancorp, Inc [Member] | Core Deposits [Member] | |||
Finite-Lived Core Deposits, Gross | $ 2,900 | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years 6 months | ||
First Personal Financial Corporation [Member] | |||
Goodwill, Ending Balance | $ 5,400 | ||
First Personal Financial Corporation [Member] | Core Deposits [Member] | |||
Finite-Lived Core Deposits, Gross | $ 3,000 | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years 4 months 24 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 (Year) | 7 years 10 months 24 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 (Year) | 8 years 2 months 12 days |
Note 7 - Intangibles and Acqu_4
Note 7 - Intangibles and Acquisition Related Accounting - Annual Amortization (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Current period | $ 497 |
First Federal Savings and Loan [Member] | |
Current period | 6 |
Liberty Savings Bank [Member] | |
Current period | 29 |
First Personal Financial Corporation [Member] | |
Current period | 238 |
AJS Bancorp, Inc [Member] | |
Current period | $ 224 |
Note 7 - Intangibles and Acqu_5
Note 7 - Intangibles and Acquisition Related Accounting - Future Annual Amortization (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Remainder 2020 | $ 497 |
2021 | 994 |
2022 | 983 |
2023 | 962 |
2024 | 919 |
2025 | 261 |
2026 | 0 |
Total | 4,616 |
First Federal Savings and Loan [Member] | |
Remainder 2020 | 6 |
2021 | 12 |
2022 | 1 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
Total | 19 |
Liberty Savings Bank [Member] | |
Remainder 2020 | 29 |
2021 | 58 |
2022 | 58 |
2023 | 38 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
Total | 183 |
First Personal Financial Corporation [Member] | |
Remainder 2020 | 238 |
2021 | 475 |
2022 | 475 |
2023 | 475 |
2024 | 470 |
2025 | 0 |
2026 | 0 |
Total | 2,133 |
AJS Bancorp, Inc [Member] | |
Remainder 2020 | 224 |
2021 | 449 |
2022 | 449 |
2023 | 449 |
2024 | 449 |
2025 | 261 |
2026 | |
Total | $ 2,281 |
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 | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income as reported | $ 5,063 | $ 4,023 | $ 8,255 | $ 6,245 |
Weighted average common shares outstanding (in shares) | 3,463,136 | 3,451,961 | 3,460,820 | 3,397,872 |
Basic earnings per common share (in dollars per share) | $ 1.46 | $ 1.17 | $ 2.39 | $ 1.84 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 3,463,136 | 3,451,961 | 3,460,820 | 3,397,872 |
Diluted (in dollars per share) | $ 1.46 | $ 1.17 | $ 2.39 | $ 1.84 |
Note 10 - Stock Based Compens_3
Note 10 - Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | Feb. 17, 2015 | |
Share-based Payment Arrangement, Expense | $ 202 | $ 154 | ||
Share Based Compensation Expense, Estimated Future Compensation, Total | 794 | |||
Share Based Compensation Expense, Estimated For Remainder of Fiscal Year | 215 | |||
Share Based Compensation Expense, Estimated For Year Two | 339 | |||
Share Based Compensation Expense, Estimated For Year Three | 209 | |||
Share Based Compensation Expense, Estimated For Year Four | $ 31 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 13,243 | 7,407 | ||
2015 Stock Option and Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 250,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 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 (in shares) | 13,243 | 7,407 | ||
2015 Stock Option and Incentive Plan [Member] | Restricted Stock [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 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 (Year) | 5 years |
Note 10 - Stock Based Compens_4
Note 10 - Stock Based Compensation - Restricted Stock Activity (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
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 |
Granted, shares (in shares) | 13,243 | 7,407 |
Granted, weighted average grant date fair value (in dollars per share) | $ 44.30 | $ 43 |
Vested, shares (in shares) | (6,400) | (4,625) |
Vested, weighted average grant date fair value (in dollars per share) | $ 27.50 | $ 29.37 |
Forfeited, shares (in shares) | 0 | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 |
Non-vested, shares (in shares) | 37,048 | 30,205 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 40.13 | $ 35.63 |
Note 13 - Derivative Financia_3
Note 13 - Derivative Financial Instruments - Non-hedging Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Derivative assets, fair vale | $ 4,263 | $ 1,544 | |
Derivative liabilities, fair vale | 3,778 | 1,358 | |
Derivative instrument, Gain | 529 | $ 338 | |
Not Designated as Hedging Instrument [Member] | |||
Derivative, notational amount | 74,770 | 42,288 | |
Interest Rate Swap [Member] | Other Nonoperating Income (Expense) [Member] | |||
Derivative instrument, Gain | 231 | 338 | |
Interest Rate Swap [Member] | Other Assets [Member] | |||
Derivative assets, fair vale | 3,778 | 1,358 | |
Interest Rate Swap [Member] | Other Liabilities [Member] | |||
Derivative liabilities, fair vale | 3,778 | 1,358 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative, notational amount | 38,866 | 29,466 | |
Interest Rate Lock Commitments [Member] | Gain (Loss) on Sale of Loans Held-for-Sale, Net [Member] | |||
Derivative instrument, Gain | 298 | $ 0 | |
Interest Rate Lock Commitments [Member] | Other Assets [Member] | |||
Derivative assets, fair vale | 485 | 186 | |
Interest Rate Lock Commitments [Member] | Other Liabilities [Member] | |||
Derivative liabilities, fair vale | 0 | 0 | |
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative, notational amount | $ 35,904 | $ 12,822 |
Note 13 - Derivative Financia_4
Note 13 - Derivative Financial Instruments - Offset Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Gross amount of recognized assets | $ 4,263 | $ 1,544 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 4,263 | 1,544 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | 4,263 | 1,544 |
Interest Rate Swap [Member] | ||
Gross amount of recognized assets | 3,778 | 1,358 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 3,778 | 1,358 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | 3,778 | 1,358 |
Interest Rate Lock Commitments [Member] | ||
Gross amount of recognized assets | 485 | 186 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 485 | 186 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | $ 485 | $ 186 |
Note 13 - Derivative Financia_5
Note 13 - Derivative Financial Instruments - Offset Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Gross amount of recognized liabilities | $ 3,778 | $ 1,358 |
Gross amounts offset in the statement of financial condition | 0 | 0 |
Net amount of liabilities present in the statement of financial condition | 3,778 | 1,358 |
Financial instruments | 0 | 0 |
Cash collateral pledged | 3,660 | 2,290 |
Net amount | 118 | |
Net amount | (932) | |
Interest Rate Swap [Member] | ||
Gross amount of recognized liabilities | 3,778 | 1,358 |
Gross amounts offset in the statement of financial condition | 0 | 0 |
Net amount of liabilities present in the statement of financial condition | 3,778 | 1,358 |
Financial instruments | 0 | 0 |
Cash collateral pledged | 3,660 | 2,290 |
Net amount | $ 118 | |
Net amount | $ (932) |
Note 14 - Fair Value (Details T
Note 14 - Fair Value (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses | $ 0 | |
Available-for-sale Securities, Amortized Cost Basis, Total | 2,200 | |
Impaired Financing Receivable, Recorded Investment, Total | 6,900 | $ 7,200 |
Impaired Financing Receivable, Related Allowance | 482 | 166 |
Impaired Financing Receivable, Fair Value | $ 6,400 | $ 7,100 |
Note 14 - Fair Value - Credit L
Note 14 - Fair Value - Credit Loss Roll Forward for Trust Preferred Securities Classified with Other Than Temporary Impairment (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Ending balance, December 31, 2019 | $ 173 |
Additions not previously recognized | 0 |
Ending balance, June 30, 2020 | $ 173 |
Note 14 - Fair Value - Assets M
Note 14 - Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Total securities available-for-sale | $ 294,719 | $ 277,219 |
Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 294,719 | 277,219 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 21,457 | 9,670 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 272,447 | 266,473 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 815 | 1,076 |
Money Market Funds [Member] | ||
Total securities available-for-sale | 21,457 | 9,670 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 21,457 | 9,670 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 21,457 | 9,670 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 134,073 | |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 134,073 | |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 13,058 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 13,058 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Total securities available-for-sale | 138,374 | 102,427 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 138,374 | 102,427 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 138,374 | 102,427 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Total securities available-for-sale | 134,073 | 150,988 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 150,988 | |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 150,988 | |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | |
Collateralized Debt Obligations [Member] | ||
Total securities available-for-sale | 815 | 1,076 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 815 | 1,076 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | $ 815 | $ 1,076 |
Note 14 - Fair Value - Availabl
Note 14 - Fair Value - Available for Sale Securities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 1,076 | $ 2,049 |
Principal payments | (11) | (38) |
Total unrealized gains (losses), included in other comprehensive income | (250) | 52 |
Transfers in and/or (out) of Level 3 | (987) | |
Sale out of Level 3 | 0 | |
Ending balance | $ 815 | $ 1,076 |
Note 14 - Fair Value - Assets_2
Note 14 - Fair Value - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Impaired Loans [Member] | ||
Assets, fair value | $ 6,441 | $ 7,052 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 6,441 | 7,052 |
Foreclosed Real Estate [Member] | ||
Assets, fair value | 634 | 1,083 |
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 0 | 0 |
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | $ 634 | $ 1,083 |
Note 14 - Fair Value - Financia
Note 14 - Fair Value - Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Total securities available-for-sale | $ 294,719 | $ 277,219 | |
Interest rate swap agreements | 4,263 | 1,544 | |
Interest rate swap agreements | $ 3,778 | 1,358 | |
Securities available-for-sale | 294,719 | 277,219 | |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 97,305 | 47,258 | |
Certificates of deposit in other financial institutions | 1,639 | 2,170 | |
Total securities available-for-sale | 294,719 | 277,219 | |
Loans held-for-sale | 10,024 | 6,091 | |
Loans receivable, net | 972,036 | 897,870 | |
Federal Home Loan Bank stock | 3,918 | 3,912 | |
Interest rate swap agreements | 3,778 | 1,358 | |
Accrued interest receivable | 4,284 | 4,029 | |
Non-interest bearing deposits | 262,001 | 172,094 | |
Interest bearing deposits | 1,015,633 | 982,276 | |
Repurchase agreements | 17,159 | 11,499 | |
Borrowed funds | 12,000 | 14,000 | |
Interest rate swap agreements | 3,778 | 1,358 | |
Accrued interest payable | 65 | 179 | |
Securities available-for-sale | 294,719 | 277,219 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 97,305 | 47,258 | |
Certificates of deposit in other financial institutions | 1,614 | 2,137 | |
Total securities available-for-sale | 294,719 | 277,219 | |
Loans held-for-sale | 10,311 | 6,204 | |
Loans receivable, net | 989,824 | 917,174 | |
Federal Home Loan Bank stock | 3,918 | 3,912 | |
Interest rate swap agreements | 3,778 | 1,358 | |
Accrued interest receivable | 4,284 | 4,029 | |
Non-interest bearing deposits | 262,001 | 172,094 | |
Interest bearing deposits | 1,016,961 | 982,241 | |
Repurchase agreements | 17,166 | 11,499 | |
Borrowed funds | 12,140 | 14,108 | |
Interest rate swap agreements | 3,778 | 1,358 | |
Accrued interest payable | 65 | 179 | |
Securities available-for-sale | 294,719 | 277,219 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 97,305 | 47,258 | |
Certificates of deposit in other financial institutions | 0 | 0 | |
Total securities available-for-sale | 21,457 | 9,670 | |
Loans held-for-sale | 10,311 | 6,204 | |
Loans receivable, net | 0 | 0 | |
Federal Home Loan Bank stock | 0 | 0 | |
Interest rate swap agreements | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing deposits | 262,001 | 172,094 | |
Interest bearing deposits | 720,953 | 654,573 | |
Repurchase agreements | 15,425 | 9,721 | |
Borrowed funds | 0 | 0 | |
Interest rate swap agreements | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Securities available-for-sale | 21,457 | 9,670 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Certificates of deposit in other financial institutions | 1,614 | 2,137 | |
Total securities available-for-sale | 272,447 | 266,473 | |
Loans held-for-sale | 0 | 0 | |
Loans receivable, net | 0 | 0 | |
Federal Home Loan Bank stock | 3,918 | 3,912 | |
Interest rate swap agreements | 3,778 | 1,358 | |
Accrued interest receivable | 4,284 | 4,029 | |
Non-interest bearing deposits | 0 | 0 | |
Interest bearing deposits | 296,008 | 327,668 | |
Repurchase agreements | 1,741 | 1,778 | |
Borrowed funds | 12,140 | 14,108 | |
Interest rate swap agreements | 3,778 | 1,358 | |
Accrued interest payable | 65 | 179 | |
Securities available-for-sale | 272,447 | 266,473 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Certificates of deposit in other financial institutions | 0 | 0 | |
Total securities available-for-sale | 815 | 1,076 | |
Loans held-for-sale | 0 | 0 | |
Loans receivable, net | 989,824 | 917,174 | |
Federal Home Loan Bank stock | 0 | 0 | |
Interest rate swap agreements | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing deposits | 0 | 0 | |
Interest bearing deposits | 0 | 0 | |
Repurchase agreements | 0 | 0 | |
Borrowed funds | 0 | 0 | |
Interest rate swap agreements | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Securities available-for-sale | $ 815 | $ 1,076 |