Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 10, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-28344 | |
Entity Registrant Name | FIRST COMMUNITY CORPORATION | |
Entity Central Index Key | 0000932781 | |
Entity Tax Identification Number | 57-1010751 | |
Entity Incorporation, State or Country Code | SC | |
Entity Address, Address Line One | 5455 Sunset Boulevard | |
Entity Address, City or Town | Lexington | |
Entity Address, State or Province | SC | |
Entity Address, Postal Zip Code | 29072 | |
City Area Code | (803) | |
Local Phone Number | 951-2265 | |
Title of 12(b) Security | Common stock, par value $1.00 per share | |
Trading Symbol | FCCO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,539,587 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 23,671 | $ 18,930 |
Interest-bearing bank balances | 52,316 | 46,062 |
Investment securities available-for-sale | 468,951 | 359,866 |
Other investments, at cost | 1,718 | 2,053 |
Loans held-for-sale | 11,416 | 45,020 |
Loans held-for-investment | 878,318 | 844,157 |
Less, allowance for loan losses | 10,638 | 10,389 |
Net loans held-for-investment | 867,680 | 833,768 |
Property and equipment - net | 33,882 | 34,458 |
Lease right-of-use asset | 2,938 | 3,032 |
Premises held-for-sale | 591 | 591 |
Bank owned life insurance | 28,033 | 27,688 |
Other real estate owned | 1,182 | 1,194 |
Intangible assets | 1,011 | 1,120 |
Goodwill | 14,637 | 14,637 |
Other assets | 6,947 | 6,963 |
Total assets | 1,514,973 | 1,395,382 |
Deposits: | ||
Non-interest bearing | 417,895 | 385,511 |
Interest bearing | 871,988 | 803,902 |
Total deposits | 1,289,883 | 1,189,413 |
Securities sold under agreements to repurchase | 60,487 | 40,914 |
Junior subordinated debt | 14,964 | 14,964 |
Lease liability | 3,033 | 3,114 |
Other liabilities | 8,679 | 10,640 |
Total liabilities | 1,377,046 | 1,259,045 |
SHAREHOLDERS EQUITY | ||
Preferred stock, par value $1.00 per share, 10,000,000 shares authorized; none issued and outstanding | ||
Common stock, par value $1.00 per share; 20,000,000 shares authorized; issued and outstanding 7,539,587 at June 30, 2021 7,500,338 at December 31, 2020 | 7,540 | 7,500 |
Nonvested restricted stock | (480) | (283) |
Additional paid in capital | 91,964 | 91,380 |
Retained earnings | 31,457 | 26,453 |
Accumulated other comprehensive income | 7,446 | 11,287 |
Total shareholders equity | 137,927 | 136,337 |
Total liabilities and shareholders equity | $ 1,514,973 | $ 1,395,382 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,539,587 | 7,500,338 |
Common Stock, Shares, Outstanding | 7,539,587 | 7,500,338 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Interest and dividend income: | ||||
Loans, including fees | $ 9,740 | $ 9,018 | $ 19,191 | $ 17,845 |
Investment securities - taxable | 1,507 | 1,225 | 2,852 | 2,662 |
Investment securities - non taxable | 387 | 386 | 776 | 675 |
Other short term investments and CDs | 30 | 37 | 63 | 194 |
Total interest income | 11,664 | 10,666 | 22,882 | 21,376 |
Interest expense: | ||||
Deposits | 448 | 736 | 967 | 1,755 |
Securities sold under agreement to repurchase | 19 | 36 | 47 | 140 |
Other borrowed money | 105 | 151 | 209 | 321 |
Total interest expense | 572 | 923 | 1,223 | 2,216 |
Net interest income | 11,092 | 9,743 | 21,659 | 19,160 |
Provision for loan losses | 168 | 1,250 | 345 | 2,325 |
Net interest income after provision for loan losses | 10,924 | 8,493 | 21,314 | 16,835 |
Non-interest income: | ||||
Deposit service charges | 212 | 210 | 458 | 609 |
Mortgage banking income | 1,143 | 1,572 | 2,133 | 2,554 |
Investment advisory fees and non-deposit commissions | 957 | 671 | 1,834 | 1,305 |
Gain on sale of other real estate owned | 77 | 6 | ||
Other | 1,106 | 934 | 2,212 | 1,841 |
Total non-interest income | 3,418 | 3,387 | 6,714 | 6,315 |
Non-interest expense: | ||||
Salaries and employee benefits | 5,948 | 5,840 | 11,912 | 11,493 |
Occupancy | 734 | 679 | 1,464 | 1,322 |
Equipment | 338 | 298 | 613 | 616 |
Marketing and public relations | 313 | 247 | 709 | 601 |
FDIC Insurance assessments | 146 | 88 | 315 | 130 |
Other real estate expense | 55 | 40 | 84 | 75 |
Amortization of intangibles | 52 | 95 | 109 | 200 |
Other | 2,292 | 1,844 | 4,212 | 3,732 |
Total non-interest expense | 9,878 | 9,131 | 19,418 | 18,169 |
Net income before tax | 4,464 | 2,749 | 8,610 | 4,981 |
Income tax expense | 921 | 532 | 1,812 | 970 |
Net income | $ 3,543 | $ 2,217 | $ 6,798 | $ 4,011 |
Basic earnings per common share | $ 0.47 | $ 0.30 | $ 0.91 | $ 0.54 |
Diluted earnings per common share | $ 0.47 | $ 0.30 | $ 0.90 | $ 0.54 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Net income | $ 3,543 | $ 2,217 | $ 6,798 | $ 4,011 |
Other comprehensive income: | ||||
Unrealized gain during the period on available-for-sale securities, net of tax expense of $616 and $1,196, respectively | 2,320 | 4,501 | (3,841) | 7,882 |
Comprehensive income | $ 5,863 | $ 6,718 | $ 2,957 | $ 11,893 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Unrealized (loss) gain during the period on available-for-sale securities, taxes | $ 616 | $ 1,196 | $ (1,021) | $ 2,095 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Nonvested Restricted Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 7,440 | $ 90,488 | $ (151) | $ 19,927 | $ 2,490 | $ 120,194 |
Beginning Balance, Shares at Dec. 31, 2019 | 7,440,000 | |||||
Net income | 1,794 | 1,794 | ||||
Other comprehensive income net of tax of $1,196 | 3,381 | 3,381 | ||||
Issuance of common stock | 4 | 4 | ||||
Issuance of restricted stock | $ 18 | 348 | (366) | |||
Issuance of restricted stock, Shares | 18,000 | |||||
Amortization of compensation on restricted stock | 52 | 52 | ||||
Shares retired | $ (1) | (14) | (15) | |||
Shares forfeited, Shares | (1,000) | |||||
Dividends: Common ($0.12 per share) | (891) | (891) | ||||
Dividend reinvestment plan | $ 5 | 90 | 95 | |||
Dividend reinvestment plan, Shares | 5,000 | |||||
Ending balance, value at Mar. 31, 2020 | $ 7,462 | 90,916 | (465) | 20,830 | 5,871 | 124,614 |
Ending Balance, Shares at Mar. 31, 2020 | 7,462,000 | |||||
Beginning balance, value at Dec. 31, 2019 | $ 7,440 | 90,488 | (151) | 19,927 | 2,490 | 120,194 |
Beginning Balance, Shares at Dec. 31, 2019 | 7,440,000 | |||||
Net income | 4,011 | 4,011 | ||||
Other comprehensive income net of tax of $1,196 | 7,882 | 7,882 | ||||
Issuance of common stock | 4 | 4 | ||||
Issuance of restricted stock | $ 18 | 348 | (366) | |||
Issuance of restricted stock, Shares | 18,000 | |||||
Issuance of common stock-Deferred Compensation | $ 18 | 182 | 200 | |||
Issuance of common stock-deferred compensation, Shares | 18,000 | |||||
Amortization of compensation on restricted stock | 121 | 121 | ||||
Shares retired | $ (1) | (14) | (15) | |||
Shares forfeited, Shares | (1,000) | |||||
Dividends: Common ($0.12 per share) | (1,783) | (1,783) | ||||
Dividend reinvestment plan | $ 11 | 176 | 187 | |||
Dividend reinvestment plan, Shares | 11,000 | |||||
Ending balance, value at Jun. 30, 2020 | $ 7,486 | 91,184 | (396) | 22,155 | 10,372 | 130,801 |
Ending Balance, Shares at Jun. 30, 2020 | 7,486,000 | |||||
Beginning balance, value at Mar. 31, 2020 | $ 7,462 | 90,916 | (465) | 20,830 | 5,871 | 124,614 |
Beginning Balance, Shares at Mar. 31, 2020 | 7,462,000 | |||||
Net income | 2,217 | 2,217 | ||||
Other comprehensive income net of tax of $1,196 | 4,501 | 4,501 | ||||
Issuance of common stock-Deferred Compensation | $ 18 | 182 | 200 | |||
Issuance of common stock-deferred compensation, Shares | 18,000 | |||||
Amortization of compensation on restricted stock | 69 | 69 | ||||
Dividends: Common ($0.12 per share) | (892) | (892) | ||||
Dividend reinvestment plan | $ 6 | 86 | 92 | |||
Dividend reinvestment plan, Shares | 6,000 | |||||
Ending balance, value at Jun. 30, 2020 | $ 7,486 | 91,184 | (396) | 22,155 | 10,372 | 130,801 |
Ending Balance, Shares at Jun. 30, 2020 | 7,486,000 | |||||
Beginning balance, value at Dec. 31, 2020 | $ 7,500 | 91,380 | (283) | 26,453 | 11,287 | 136,337 |
Beginning Balance, Shares at Dec. 31, 2020 | 7,500,000 | |||||
Net income | 3,255 | 3,255 | ||||
Other comprehensive income net of tax of $1,196 | (6,161) | (6,161) | ||||
Issuance of common stock | $ 2 | 44 | 46 | |||
Issuance of common stock, Shares | 2,000 | |||||
Issuance of restricted stock | $ 21 | 353 | (374) | |||
Issuance of restricted stock, Shares | 21,000 | |||||
Amortization of compensation on restricted stock | 84 | 84 | ||||
Shares retired | $ (4) | (66) | (70) | |||
Shares forfeited, Shares | (4,000) | |||||
Dividends: Common ($0.12 per share) | (896) | (896) | ||||
Dividend reinvestment plan | $ 6 | 86 | 92 | |||
Dividend reinvestment plan, Shares | 6,000 | |||||
Ending balance, value at Mar. 31, 2021 | $ 7,525 | 91,797 | (573) | 28,812 | 5,126 | 132,687 |
Ending Balance, Shares at Mar. 31, 2021 | 7,525,000 | |||||
Beginning balance, value at Dec. 31, 2020 | $ 7,500 | 91,380 | (283) | 26,453 | 11,287 | 136,337 |
Beginning Balance, Shares at Dec. 31, 2020 | 7,500,000 | |||||
Net income | 6,798 | 6,798 | ||||
Other comprehensive income net of tax of $1,196 | (3,841) | (3,841) | ||||
Issuance of common stock | $ 12 | 124 | 136 | |||
Issuance of common stock, Shares | 12,000 | |||||
Issuance of restricted stock | $ 21 | 353 | (374) | |||
Issuance of restricted stock, Shares | 21,000 | |||||
Issuance of common stock-Deferred Compensation | ||||||
Amortization of compensation on restricted stock | 177 | 177 | ||||
Shares retired | $ (4) | (66) | (70) | |||
Shares forfeited, Shares | (4,000) | |||||
Dividends: Common ($0.12 per share) | (1,794) | (1,794) | ||||
Dividend reinvestment plan | $ 11 | 173 | 184 | |||
Dividend reinvestment plan, Shares | 11,000 | |||||
Ending balance, value at Jun. 30, 2021 | $ 7,540 | 91,964 | (480) | 31,457 | 7,446 | 137,927 |
Ending Balance, Shares at Jun. 30, 2021 | 7,540,000 | |||||
Beginning balance, value at Mar. 31, 2021 | $ 7,525 | 91,797 | (573) | 28,812 | 5,126 | 132,687 |
Beginning Balance, Shares at Mar. 31, 2021 | 7,525,000 | |||||
Net income | 3,543 | 3,543 | ||||
Other comprehensive income net of tax of $1,196 | 2,320 | 2,320 | ||||
Issuance of common stock | $ 10 | 80 | 90 | |||
Issuance of common stock, Shares | 10,000 | |||||
Amortization of compensation on restricted stock | 93 | 93 | ||||
Dividends: Common ($0.12 per share) | (898) | (898) | ||||
Dividend reinvestment plan | $ 5 | 87 | 92 | |||
Dividend reinvestment plan, Shares | 5,000 | |||||
Ending balance, value at Jun. 30, 2021 | $ 7,540 | $ 91,964 | $ (480) | $ 31,457 | $ 7,446 | $ 137,927 |
Ending Balance, Shares at Jun. 30, 2021 | 7,540,000 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||||
Other Comprehensive Income | $ (616) | $ 1,637 | $ 1,196 | $ 899 | $ 1,021 | $ 2,095 |
Common Stock Dividend, per Share | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.24 | $ 0.24 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, Tax | $ 616 | $ (1,637) | $ (1,196) | $ (899) | $ (1,021) | $ (2,095) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||||||
Net income | $ 3,543 | $ 3,255 | $ 2,217 | $ 1,794 | $ 6,798 | $ 4,011 | |
Adjustments to reconcile net income to net cash provided (used) from operating activities: | |||||||
Depreciation | 853 | 807 | |||||
Net premium amortization | 1,089 | 984 | |||||
Provision for loan losses | 168 | 1,250 | 345 | 2,325 | $ 3,663 | ||
Origination of loans held-for-sale | (76,404) | (85,207) | |||||
Sale of loans held-for-sale | 110,008 | 62,866 | |||||
Write-down of other real estate owned | 33 | 38 | |||||
Gain on sale of other real estate owned | (77) | (6) | |||||
Amortization of intangibles | 52 | 95 | 109 | 200 | |||
Accretion on acquired loans | (64) | (179) | |||||
Loss on fair value of securities | (2) | ||||||
Increase (decrease) in other assets | 786 | (2,221) | |||||
Decrease in other liabilities | (2,042) | 4,385 | |||||
Net cash provided (used) from operating activities | 41,432 | (11,997) | |||||
Cash flows from investing activities: | |||||||
Purchase of investment securities available-for-sale | (139,458) | (22,077) | |||||
Purchase of other investment securities | (20) | (70) | |||||
Maturity/call of investment securities available-for-sale | 24,424 | 21,948 | |||||
Proceeds from FHLB stock sales | 355 | ||||||
Increase in loans | (34,338) | (83,570) | |||||
Proceeds from sale of other securities | 9 | ||||||
Proceeds from sale of other real estate owned | 201 | ||||||
Purchase of property and equipment | (277) | (527) | |||||
Net cash (used) provided in investing activities | (149,113) | (84,287) | |||||
Cash flows from financing activities: | |||||||
Increase (decrease) in deposit accounts | 100,470 | 130,672 | |||||
Increase in securities sold under agreements to repurchase | 19,573 | 12,355 | |||||
Advances from the Federal Home Loan Bank | 34,001 | ||||||
Repayment of advances from Federal Home Loan Bank | (34,212) | ||||||
Shares retired / forfeited | (70) | (15) | (70) | (15) | |||
Dividends paid: Common Stock | (1,794) | (1,783) | |||||
Issuance of deferred compensation shares | 200 | 200 | |||||
Proceeds from issuance of Common Stock | 136 | 4 | |||||
Change in non-vested restricted stock | 93 | 84 | 69 | 52 | 177 | 121 | |
Dividend reinvestment plan | 184 | 187 | |||||
Net cash provided (used) from financing activities | 118,676 | 141,530 | |||||
Net increase in cash and cash equivalents | 10,995 | 45,246 | |||||
Cash and cash equivalents at beginning of period | $ 64,992 | $ 47,692 | 64,992 | 47,692 | 47,692 | ||
Cash and cash equivalents at end of period | $ 75,987 | $ 92,938 | 75,987 | 92,938 | $ 64,992 | ||
Cash paid during the period for: | |||||||
Interest | 2,396 | 3,070 | |||||
Income taxes | 2,837 | ||||||
Non-cash investing and financing activities: | |||||||
Unrealized gain (loss) on securities | (3,841) | 9,977 | |||||
Transfer of loans to foreclosed property | $ 145 | $ 78 |
Nature of Business and Basis of
Nature of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business and Basis of Presentation | Note 1— Nature of Business and Basis of Presentation Basis of Presentation In the opinion of management, the accompanying unaudited consolidated balance sheets, and the consolidated statements of income, comprehensive income, changes in shareholders equity, and the cash flows of First Community Corporation (the Company) and its wholly owned subsidiary, First Community Bank (the Bank), present fairly in all material respects the Companys financial position at June 30, 2021 and December 31, 2020, and the Companys results of operations for the three and six months ended June 30, 2021 and 2020 and cash flows for the six months ended June 30, 2021 and 2020. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. In the opinion of management, all adjustments necessary to fairly present the consolidated financial position and consolidated results of operations have been made. All such adjustments are of a normal, recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements and notes thereto are presented in accordance with the instructions for Quarterly Reports on Form 10-Q. The information included in the Companys Annual Report on Form 10-K for the year ended December 31, 2020 should be referred to in connection with these unaudited interim financial statements. Risk and Uncertainties The coronavirus (COVID-19) pandemic, which was declared a national emergency in the United States in March 2020, continues to create extensive disruptions to the global economy and financial markets and to businesses and the lives of individuals throughout the world. The impact of the COVID-19 pandemic is fluid and continues to evolve, adversely affecting many of the Banks customers. The unprecedented and rapid spread of COVID-19 and its associated impacts on trade (including supply chains and export levels), travel, employee productivity, unemployment, consumer spending, and other economic activities has resulted in less economic activity, significant volatility and disruption in financial markets. In addition, due to the COVID-19 pandemic, market interest rates declined significantly, with the 10-year Treasury bond falling to a low of 0.52% in early August 2020, but increasing significantly since that time to 1.74% at March 31, 2021 and then declining to 1.45% at June 30, 2021. In March 2020, the Federal Open Market Committee reduced the targeted federal funds interest rate to a range from 0% to 0.25%, and this low targeted range was still in effect as of June 30, 2021. These reductions in interest rates and the other effects of the COVID-19 pandemic have had, and are expected to continue to have, possibly materially, an adverse effect on the Companys business, financial condition and results of operations. The ultimate extent of the impact of the COVID-19 pandemic on the Companys business, financial condition and results of operations is currently uncertain and will depend on various developments and other factors, including the effect of governmental and private sector initiatives, the effect of the continued rollout of vaccinations for the virus, whether such vaccinations will be effective against any resurgence of the virus, including any new strains, and the ability for customers and businesses to return to their pre-pandemic routines. Beginning in March 2020, the Company proactively offered payment deferrals for up to 90 days to its loan customers. The Company continues to consider potential deferrals with respect to certain customers, which are evaluated on a case-by-case basis. At its peak, which occurred during the second quarter of 2020, the Company granted payment deferments on loans totaling $206.9 million. As a result of payments being resumed by loan customers at the conclusion of their payment deferral period, loans for which payments were being deferred decreased from the peak of $206.9 million to $175.0 million at June 30, 2020, to $27.3 million at September 30, 2020, to $16.1 million at December 31, 2020, to $8.7 million at March 31, 2021, and to $4.5 million at June 30, 2021. Some of these deferments were to businesses that temporarily closed or reduced operations and some were requested as a pre-cautionary measure to conserve cash. The Company proactively offered deferrals to its customers regardless of the impact of the pandemic on their business or personal finances. The Company has evaluated its exposure to certain industry segments most impacted by the COVID-19 pandemic Industry Segments Outstanding % of Loan Avg. Loan Avg. Loan to (Dollars in millions) Loan Balance Portfolio Size Value Hotels $ 33.9 3.9 % $ 2.3 69 % Restaurants $ 21.3 2.4 % $ 0.7 70 % Assisted Living $ 8.7 1.0 % $ 1.4 46 % Retail $ 83.0 9.5 % $ 0.7 57 % |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Note 2— Earnings Per Common Share The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation: Schedule of Earning Per Common Share (In thousands except average market price and per share data) Six months Three months Ended June 30, Ended June 30, 2021 2020 2021 2020 Numerator (Net income available to common shareholders) $ 6,798 $ 4,011 $ 3,543 $ 2,217 Denominator Weighted average common shares outstanding for: Basic shares 7,478 7,432 7,486 7,436 Dilutive securities: Deferred compensation 28 26 29 18 Restricted stock – Treasury stock method 22 10 22 11 Diluted shares 7,528 7,468 7,537 7,465 Earnings per common share: Basic 0.91 0.54 0.47 0.30 Diluted 0.90 0.54 0.47 0.30 The average market price used in calculating assumed number of shares $ 18.95 $ 16.98 $ 19.44 $ 14.97 Non-Employee Director Deferred Compensation Plan Under the Companys Non-Employee Director Deferred Compensation Plan, as amended and restated effective as of January 1, 2021, a director may elect to defer all or any part of annual retainer and monthly meeting fees payable with respect to service on the board of directors or a committee of the board. Units of common stock are credited to the directors account as of the last day of such calendar quarter during which the compensation is earned and are included in dilutive securities in the table above. The non-employee directors account balance is distributed by issuance of common stock within 30 days following such directors separation form service from the board of directors. At June 30, 2021 and December 31, 2020, there were 83,198 and 88,412 units in the plan, respectively. 1.1 First Community Corporation 2011 Stock Incentive Plan In 2011, the Company and its shareholders adopted a stock incentive plan whereby 350,000 shares were reserved for issuance by the Company upon the grant of stock options or restricted stock awards under the plan (the 2011 Plan). The 2011 Plan provided for the grant of options to key employees and directors as determined by a stock option committee made up of at least two members of the board of directors. Options are exercisable for a period of ten years from date of grant. There were no stock options outstanding and exercisable at June 30, 2021, December 31, 2020 and June 30, 2020. At December 31, 2020, the Company had 94,910 shares reserved for future grants under the 2011 Plan. The 2011 Plan expired on March 15, 2021 and no new awards may be granted under the 2011 Plan. However, any awards outstanding under the 2011 Plan will continue to be outstanding and governed by the provisions of the 2011 Plan. Under the 2011 Plan, the employee restricted shares and units cliff vest over a three-year period and the non-employee director shares vest approximately one year after issuance. The unrecognized compensation cost at June 30, 2021 and December 31, 2020 for non-vested shares amounts to $ 479.5 thousand and $ 283.1 thousand, respectively. Each unit is convertible into one share of common stock at the time the unit vests. The related compensation cost for time-based units is accrued over the vesting period and was $ 62.4 thousand and $ 107.4 thousand at June 30, 2021, and December 31, 2020, respectively. Historically, the Company granted time-based equity awards that vested based on continued service. Beginning in 2021 and in addition to time-based equity awards, the Company began granting performance-based equity awards in the form of performance-based restricted stock units, with the target number of performance-based restricted stock units for the Companys Chief Executive Officer and other executive officers representing 50% of total target equity awards. These performance-based restricted stock units cliff vest over three years and include conditions based on the following performance measures: total shareholder return, return on average equity, and non-performing assets. The Company granted 13,302 performance-based restricted stock units with a fair value of $234.0 thousand during the first six months of 2021. The Company granted no performance-based restricted stock units in 2020. The related compensation cost for the performance-based restricted stock units is accrued over the vesting period and was $26.0 thousand during the first six months of 2021. The total related compensation cost for restricted stock units was $88.4 thousand and $107.4 thousand at June 30, 2021, and December 31, 2020, respectively, including both time-based and performance-based restricted stock units. First Community Corporation 2021 Omnibus Equity Incentive Plan In 2021, the Company and its shareholders adopted an omnibus equity incentive plan whereby 225,000 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 3— Investment Securities The amortized cost and estimated fair values of investment securities are summarized below: Schedule of Investment Available-For-Sale AVAILABLE-FOR-SALE: Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value June 30, 2021 US Treasury securities $ 15,722 $ — $ 274 $ 15,448 Mortgage-backed securities 317,506 5,377 1,642 321,241 Small Business Administration pools 35,558 728 61 36,225 State and local government 84,216 5,417 295 89,338 Corporate and other securities 6,525 174 — 6,699 $ 459,527 $ 11,696 $ 2,272 $ 468,951 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value December 31, 2020 US Treasury securities $ 1,501 $ 1 $ — $ 1,502 Government Sponsored Enterprises 996 10 — 1,006 Mortgage-backed securities 222,739 7,375 185 229,929 Small Business Administration pools 34,577 928 7 35,498 State and local government 82,495 6,184 76 88,603 Corporate and other securities 3,272 56 — 3,328 $ 345,580 $ 14,554 $ 268 $ 359,866 There were no investment securities listed as held-to-maturity as of June 30, 2021 or December 31, 2020. During the three and six months ended June 30, 2021 and 2020, the Company did not receive any proceeds from the sale of investment securities available-for-sale. For the three and six months ended June 30, 2021, and 2020, there were no gross realized gains or losses from the sale of investment securities available-for-sale. At June 30, 2021, corporate and other securities available-for-sale included the following at fair value: corporate fixed-to-float bonds at $ 6.7 million, mutual funds at $ 10.2 thousand, and foreign debt of $ 10.0 thousand. As required by Accounting Standards Update (ASU) 2016-01-Financial Instruments-Overall (Subtopic 825-10), the Company measured its equity investments at fair value with changes in the fair value recognized through net income. For the six months ended June 30, 2021 and 2020, a $ 2.2 thousand gain and a $ 2.1 thousand loss were recognized on a mutual fund, respectively. 3.3 8.0 10.0 698.3 1.0 20.0 1.1 1.0 The following tables show gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position, at June 30, 2021 and December 31, 2020. Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position (Dollars in thousands) Less than 12 months 12 months or more Total June 30, 2021 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss US Treasury Securities $ 15,448 $ 274 $ — $ — $ 15,448 $ 274 Mortgage-backed securities 145,058 1,564 12,170 78 157,228 1,642 Small Business Administration pools 6,151 61 943 — 7,094 61 State and local government 13,977 295 — — 13,977 295 Total $ 180,634 $ 2,194 $ 13,113 $ 78 $ 193,747 $ 2,272 (Dollars in thousands) Less than 12 months 12 months or more Total December 31, 2020 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss Mortgage-backed securities 21,298 152 1,414 33 22,712 185 Small Business Administration pools — — 1,323 7 1,323 7 State and local government 4,930 76 — — 4,930 76 Total $ 26,228 $ 228 $ 2,737 $ 40 $ 28,965 $ 268 Government Sponsored Enterprise, Mortgage-Backed Securities: 353.1 257.3 357.5 265.4 Non-agency Mortgage Backed Securities: 51.2 49.1 57.4 54.7 State and Local Governments and Other: The following sets forth the amortized cost and fair value of investment securities at June 30, 2021 by contractual maturity. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay the obligations with or without prepayment penalties. MBSs are based on average life at estimated prepayment speeds. Schedule of the amortized cost and fair value of investment securities by expected maturity Available-for-sale June 30, 2021 Amortized Fair (Dollars in thousands) Cost Value Due in one year or less $ 15,519 $ 15,768 Due after one year through five years 159,613 163,332 Due after five years through ten years 162,819 168,061 Due after ten years 121,576 121,790 Total $ 459,527 $ 468,951 |
Loans
Loans | 6 Months Ended |
Jun. 30, 2021 | |
Receivables [Abstract] | |
Loans | Note 4— Loans The following table summarizes the composition of our loan portfolio. Total loans are recorded net of deferred loan fees and costs, which totaled $3.2 million and $2.2 million as of June 30, 2021 and December 31, 2020, respectively. Schedule of Loan Portfolio June 30, December 31, (Dollars in thousands) 2021 2020 Commercial, financial and agricultural $ 111,449 $ 96,688 Real estate: Construction 95,865 95,282 Mortgage-residential 44,594 43,928 Mortgage-commercial 592,099 573,258 Consumer: Home equity 26,662 26,442 Other 7,649 8,559 Total loans, net of deferred loan fees and costs $ 878,318 $ 844,157 Commercial, financial, and agricultural category includes $ 47.2 42.2 The detailed activity in the allowance for loan losses and the recorded investment in loans receivable as of and for the three months ended and six months ended June 30, 2021 and June 30, 2020 and for the year ended December 31, 2020 is as follows: Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended June 30, 2021 Allowance for loan losses: Beginning balance March 31, 2021 $ 758 $ 134 $ 480 $ 8,137 $ 309 $ 124 $ 621 $ 10,563 Charge-offs — — — (110 ) — (11 ) — (121 ) Recoveries 2 — — 7 5 14 — 28 Provisions 134 (9 ) 62 (8 ) 8 (16 ) (3 ) 168 Ending balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total Six months ended June 30, 2021 Allowance for loan losses: Beginning balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Charge-offs — — — (110 ) — (36 ) — (146 ) Recoveries 3 — — 11 6 30 — 50 Provisions 113 (20 ) 1 270 (8 ) (8 ) (3 ) 345 Ending balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 894 125 542 8,024 322 111 618 10,636 June 30, 2021 Loans receivable: Ending balance-total $ 111,449 $ 95,865 $ 44,594 $ 592,099 $ 26,662 $ 7,649 $ — $ 878,318 Ending balances: Individually evaluated for impairment — — 310 5,163 21 — — 5,494 Collectively evaluated for impairment $ 111,449 $ 95,865 $ 44,284 $ 586,936 $ 26,641 $ 7,649 $ — $ 872,824 (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended June 30, 2020 Allowance for loan losses: Beginning balance March 31, 2020 $ 489 $ 148 $ 440 $ 5,531 $ 277 $ 112 $ 697 $ 7,694 Charge-offs — — — — — (25 ) — (25 ) Recoveries 3 — — 3 — 11 — 17 Provisions 277 17 57 935 16 34 (86 ) 1,250 Ending balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Note 4—Loans-continued (Dollars in thousands) Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer Commercial Construction Residential Commercial equity Other Unallocated Total Six months ended June 30, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — — — — — (48 ) — (48 ) Recoveries 3 — — 9 1 19 — 32 Provisions 339 54 130 1,858 52 64 (172 ) 2,325 Ending balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 4 $ — $ — $ — $ 4 Collectively evaluated for impairment 769 165 497 6,465 293 132 611 8,932 June 30, 2020 Loans receivable: Ending balance-total $ 107,184 $ 82,584 $ 45,424 $ 544,670 $ 27,156 $ 10,354 $ — $ 817,372 Ending balances: Individually evaluated for impairment — — 333 3,020 66 — — 3,419 Collectively evaluated for impairment $ 107,184 $ 82,584 $ 45,091 $ 541,650 $ 27,090 $ 10,354 $ — $ 813,953 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total December 31, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (107 ) — (110 ) Recoveries 130 2 — 23 2 52 — 209 Provisions 221 34 174 3,231 82 83 (162 ) 3,663 Ending balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 778 145 541 7,853 324 125 621 10,387 December 31, 2020 Loans receivable: Ending balance-total $ 96,688 $ 95,282 $ 43,928 $ 573,258 $ 26,442 $ 8,559 $ — $ 844,157 Ending balances: Individually evaluated for impairment — — 440 5,631 42 — — 6,113 Collectively evaluated for impairment 96,688 95,282 43,488 567,627 26,400 8,559 — 838,044 The following tables as of June 30, 2021, June 30, 2020, and December 31, 2020, are by loan category and present loans individually evaluated and considered impaired under FASB ASC 310 Accounting by Creditors for Impairment of a Loan. Impairment includes performing TDRs. Schedule of loan category and loans individually evaluated and considered impaired (Dollars in thousands) Six months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income June 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 310 361 — 315 7 310 4 Mortgage-commercial 5,062 7,689 — 5,332 188 5,168 94 Consumer: Home equity 21 25 — 21 1 20 — Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 101 101 2 111 3 101 1 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 310 361 — 315 7 310 4 Mortgage-commercial 5,163 7,790 2 5,443 191 5,269 95 Consumer: Home equity 21 25 — 21 1 20 — Other — — — — — — — $ 5,494 8,176 $ 2 $ 5,779 $ 199 $ 5,599 $ 99 (Dollars in thousands) Six months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income June 30, 2020 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 333 425 — 337 10 331 7 Mortgage-commercial 2,827 5,567 — 3,189 147 3,141 74 Consumer: Home equity 66 70 — 68 2 66 1 Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 193 193 4 216 6 193 3 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 333 425 — 337 10 331 7 Mortgage-commercial 3,020 5,760 4 3,405 153 3,334 77 Consumer: Home equity 66 70 — 68 2 66 1 Other — — — — — — — $ 3,419 6,255 $ 4 $ 3,810 $ 165 $ 3,731 $ 85 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income December 31, 2020 Investment Balance Allowance Investment Recognized With an allowance recorded: Commercial — — — — — With no allowance recorded: Commercial $ — $ — $ — $ — $ — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,508 7,980 — 5,770 388 Consumer: Home Equity 42 47 — 42 3 Other — — — — — With an allowance recorded: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential — — — — — Mortgage-commercial 123 123 2 123 11 Consumer: Home Equity — — — — — Other — — — — — Total: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,631 8,103 2 5,893 399 Consumer: Home Equity 42 47 — 42 3 Other — — — — — $ 6,113 $ 8,649 $ 2 $ 6,375 $ 403 The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a monthly basis. The Company uses the following definitions for risk ratings: Special Mention Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is shown in the table below as of June 30, 2021 and December 31, 2020. As of June 30, 2021 and December 31, 2020, no loans were classified as doubtful. Schedule of loan category and loan by risk categories (Dollars in thousands) Special June 30, 2021 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 111,273 $ 176 $ — $ — $ 111,449 Real estate: Construction 95,858 7 — — 95,865 Mortgage – residential 44,111 154 329 — 44,594 Mortgage – commercial 579,401 2,529 10,169 — 592,099 Consumer: Home Equity 25,244 219 1,199 — 26,662 Other 7,639 — 10 — 7,649 Total $ 863,526 $ 3,085 $ 11,707 $ — $ 878,318 (Dollars in thousands) Special December 31, 2020 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 96,507 $ 181 $ — $ — $ 96,688 Real estate: Construction 95,282 — — — 95,282 Mortgage – residential 43,240 190 498 — 43,928 Mortgage – commercial 559,982 7,270 6,006 — 573,258 Consumer: Home Equity 25,041 95 1,306 — 26,442 Other 8,538 21 — — 8,559 Total $ 828,590 $ 7,757 $ 7,810 $ — $ 844,157 At June 30, 2021 and December 31, 2020, non-accrual loans totaled $4.0 million and $4.7 million, respectively. TDRs that are still accruing and included in impaired loans at June 30, 2021 and at December 31, 2020 amounted to $ 1.5 1.6 Loans greater than 90 days delinquent and still accruing interest were $ 4.2 1.3 The following tables are by loan category and present loans past due and on non-accrual status as of June 30, 2021 and December 31, 2020: Schedule of loan category and present loans past due and on non-accrual status Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total June 30, 2021 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 111 $ — $ 4,164 $ 3,654 $ 7,929 $ 103,520 $ 111,449 Real estate: Construction — — — — — 95,865 95,865 Mortgage-residential 36 — — 311 347 44,247 44,594 Mortgage-commercial — — — — — 592,099 592,099 Consumer: Home equity — — — 21 21 26,641 26,662 Other 24 — 1 — 25 7,624 7,649 $ 171 $ — $ 4,165 $ 3,986 $ 8,322 $ 869,996 $ 878,318 Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total December 31, 2020 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 165 $ 27 $ — $ 4,080 $ 4,272 $ 92,416 $ 96,688 Real estate: Construction 424 — 1,260 — 1,684 93,598 95,282 Mortgage-residential 7 — — 440 447 43,481 43,928 Mortgage-commercial — — — — — 573,258 573,258 Consumer: Home equity — — — 42 42 26,400 26,442 Other 21 21 — — 42 8,517 8,559 $ 617 $ 48 $ 1,260 $ 4,562 $ 6,487 $ 837,670 $ 844,157 The Cares COVID-19 Related Troubled Debt Restructurings and Loan Modifications for Affected Borrowers The Company is focused on servicing the financial needs of its commercial and consumer customers with flexible loan payment arrangements, including short-term loan modifications or forbearance payments and reducing or waiving certain fees on deposit accounts. Future governmental actions may require these and other types of customer-related responses. Beginning in March 2020, the Company proactively offered payment deferrals for up to 90 days to its loan customers regardless of the impact of the pandemic on their business or personal finances. The Company continues to consider potential deferrals with respect to certain customers, which are evaluated on a case-by-case basis. At its peak, which occurred during the second quarter of 2020, the Company granted payment deferments on loans totaling $206.9 million. As a result of payments being resumed at the conclusion of their payment deferral period, loans in which payments were being deferred decreased from the peak of $206.9 million to $175.0 million at June 30, 2020, to $27.3 million at September 30, 2020, to $16.1 million at December 31, 2020, to $8.7 million at March 31, 2021, and to $4.5 million at June 30, 2021. The Company had no loans remaining on initial deferral status in which both principal and interest were deferred at December 31, 2020, March 31, 2021 and June 30, 2021. The $4.5 million in deferrals at June 30, 2021 consists of two loans: a mixed use office building and an events / meeting center. Troubled Debt Restructurings. In the determination of the allowance for loan losses, all TDRs are reviewed to ensure that one of the three proper valuation methods (fair market value of the collateral, present value of cash flows, or observable market price) is adhered to. All non-accrual loans are written down to their corresponding collateral value. All troubled TDR accruing loans that have a loan balance that exceeds the present value of cash flows will have a specific allocation. All nonaccrual loans are considered impaired. Under ASC 310-10, a loan is impaired when it is probable that the Company will be unable to collect all amounts due including both principal and interest according to the contractual terms of the loan agreement. Acquired credit-impaired loans are accounted for under the accounting guidance for loans and debt securities acquired with deteriorated credit quality, found in FASB ASC Topic 310-30, ( Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality) A summary of changes in the accretable yield for purchased credit-impaired loans for the three months and six months ended June 30, 2021 and June 30, 2020 are as follows: Schedule for changes in the accretable yield for PCI loans (Dollars in thousands) Three Months Three Months Accretable yield, beginning of period $ 86 $ 116 Accretion (7 ) (7 ) Accretable yield, end of period $ 79 $ 109 (Dollars in thousands) Six Months Six Months Accretable yield, beginning of period $ 93 $ 123 Accretion (14 ) (14 ) Accretable yield, end of period $ 79 $ 109 At June 30, 2021 and December 31, 2020, the recorded investment in purchased impaired loans was $ 109 110 162 171 Related party loans and lines of credit are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and generally do not involve more than the normal risk of collectability. The following table presents related party loan transactions for the three months ended June 30, 2021 and June 30, 2020: Schedule of related party loan (Dollars in thousands) 2021 2020 Beginning Balance December 31, $ 3,297 $ 4,109 New Loans 2 55 Less loan repayments 225 437 Ending Balance June 30, $ 3,074 $ 3,727 |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Note 5— Recently Issued Accounting Pronouncements The following is a summary of recent authoritative pronouncements: In June 2016, the FASB issued guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. The amendments will be effective for the Company for reporting periods beginning after December 15, 2022. Early adoption is permitted for all organizations for periods beginning after December 15, 2018. The Company is evaluating the impact that this will have on its financial statements. In November 2019, the FASB issued guidance to defer the effective dates for private companies, not-for-profit organizations, and certain smaller reporting companies applying standards on current expected credit losses (CECL), leases, hedging. The new effective date for the Company for CECL will be fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. The Company is evaluating the impact that this will have on its financial statements. In November 2019, the FASB issued guidance that addresses issues raised by stakeholders during the implementation of ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments affect a variety of topics in the ASC. For entities that have not yet adopted the amendments in ASU 2016-13, the amendments are effective for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years-all other entities. Early adoption is permitted in any interim period as long as an entity has adopted the amendments in ASU 2016-13. The Company is evaluating the impact that this will have on its financial statements. In December 2019, the FASB issued guidance to simplify accounting for income taxes by removing specific technical exceptions that often produce information investors have a hard time understanding. The amendments also improve consistent application of, and simplify, GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The amendments became effective for the Company for interim and annual periods beginning after December 15, 2020 and did not have a material effect on its financial statements. In January 2020, the FASB issued guidance to address accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. The amendments became effective for the Company for interim and annual periods beginning after December 15, 2020 and did not have a material effect on its financial statements. In March 2020, the FASB issued guidance that makes narrow-scope improvements to various aspects of the financial instrument guidance, including the CECL guidance issued in 2016. For public business entities, the amendments were effective upon issuance of the final ASU. For all other entities, the amendments were effective for fiscal years beginning after December 15, 2019, and were effective for interim periods within those fiscal years beginning after December 15, 2020. The effective date of the amendments to ASU 2016-01 were effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For the amendments related to ASU 2016-13, public business entities that meet the definition of an SEC filer, excluding eligible smaller reporting companies (as defined by the SEC), should adopt the amendments in ASU 2016-13 during 2020. All other entities should adopt the amendments in ASU 2016-13 during 2023. Early adoption is permitted. For entities that have not yet adopted the guidance in ASU 2016-13, the effective dates and the transition requirements for these amendments are the same as the effective date and transition requirements in ASU 2016-13. For entities that have adopted the guidance in ASU 2016-13, the amendments were effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For those entities, the amendments should be applied on a modified-retrospective basis by means of a cumulative-effect adjustment to opening retained earnings in the statement of financial position as of the date that an entity adopted the amendments in ASU 2016-13. On November 15, 2019, FASB issued ASU 2019-10, which delayed the effective date for the ASU 2016-13 for smaller public business entities, including Community Banks, and nonpublic business entities to January 1, 2023. The Company does not expect these amendments to have a material effect on its financial statements. In March 2020, the FASB issued guidance to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. This ASU is intended to help stakeholders during the global market-wide reference rate transition period. The amendments are effective through December 31, 2022. The Company does not expect these amendments to have a material effect on its financial statements. In August 2020, the FASB issued guidance to improve financial reporting associated with accounting for convertible instruments and contracts in an entitys own equity. The amendments will be effective the Company for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company does not expect these amendments to have a material effect on its financial statements. In October 2020, the FASB issued guidance to clarify the FASBs intent that an entity should reevaluate whether a callable debt security that has multiple call dates is within the scope of FASB ASC 310-20-35-33 for each reporting period. The amendments were effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 and did not have a material effect on the Companys financial statements. In October 2020, the FASB issued amendments to clarify the ASC and make minor improvements that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments were effective for annual periods beginning after December 15, 2020 and did not have a material effect on the Companys financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Companys financial position, results of operations or cash flows. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 6— Fair Value of Financial Instruments The Company adopted FASB ASC Fair Value Measurement Topic 820, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level l Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. FASB ASC 825-10-50 Disclosure about Fair Value of Financial Instruments, requires the Company to disclose estimated fair values for its financial instruments. The Companys fair value estimates, methods, and assumptions are set forth below. Cash and Short Term Investments - Investment Securities Available-for-Sale - Loans Held-for-Sale - Loans - Other Real Estate Owned (OREO) - Accrued Interest Receivable Deposits - Securities Sold Under Agreements to Repurchase - Junior Subordinated Debt - Accrued Interest Payable - Commitments to Extend Credit The carrying amount and estimated fair value by classification level of the Companys financial instruments as of June 30, 2021 and December 31, 2020 are as follows: Fair Value, by Balance Sheet Grouping June 30, 2021 Fair Value (Dollars in thousands) Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 75,987 $ 75,987 $ 75,987 $ — $ — Investment securities available-for-sale 468,951 468,951 25,576 443,375 — Other investments, at cost 1,718 1,718 — — 1,718 Loans held-for-sale 11,416 11,416 — 11,416 — Net loans receivable 867,680 871,342 — — 871,342 Accrued interest receivable 4,012 4,012 4,012 — — Financial liabilities: Non-interest bearing demand $ 417,895 $ 417,895 $ — $ 417,895 $ — Interest bearing demand deposits and money market accounts 577,362 577,362 — 577,362 — Savings 136,338 136,338 — 136,338 — Time deposits 158,288 158,763 — 158,763 — Total deposits 1,289,883 1,290,358 — 1,290,358 — Securities sold under agreements to repurchase 60,487 60,487 — 60,487 — Junior subordinated debt 14,964 14,493 — 14,493 — Accrued interest payable 505 505 505 — — December 31, 2020 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 64,992 $ 64,992 $ 64,992 $ — $ — Investment securities available-for-sale 359,866 359,866 20,564 339,302 — Other investments, at cost 2,053 2,053 — — 2,053 Loans held for sale 45,020 45,020 — 45,020 — Net loans receivable 833,768 829,685 — — 829,685 Accrued interest receivable 4,167 4,167 4,167 — — Financial liabilities: Non-interest bearing demand $ 385,511 $ 385,511 $ — $ 385,511 $ — Interest bearing demand deposits and money market accounts 520,205 520,205 — 520,205 — Savings 123,032 123,032 — 123,032 — Time deposits 160,665 161,505 — 61,505 — Total deposits 1,189,413 1,190,253 — 1,190,253 — Securities sold under agreements to repurchase 40,914 40,914 — 40,914 — Junior subordinated debt 14,964 11,748 — 11,748 — Accrued interest payable 667 667 667 — — Fair Value, Assets Measured on Recurring Basis (Dollars in thousands) Description June 30, Quoted Prices Significant Significant Available-for-sale securities US treasury securities $ 15,448 $ — $ 15,448 $ — Government sponsored enterprises — — — — Mortgage-backed securities 321,241 22,326 298,915 — Small Business Administration pools 36,225 — 36,225 — State and local government 89,338 — 89,338 — Corporate and other securities 6,699 3,250 3,449 — Total Available-for-sale securities 468,951 25,576 443,375 — Loans held-for-sale 11,416 — 11,416 — Total $ 480,367 $ 25,576 $ 454,791 $ — (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Available- for-sale securities US Treasury Securities $ 1,502 $ — $ 1,502 $ — Government Sponsored Enterprises 1,006 — 1,006 — Mortgage-backed securities 229,929 17,029 212,900 — Small Business Administration pools 35,498 — 35,498 — State and local government 88,603 3,535 85,068 — Corporate and other securities 3,328 — 3,328 — Total Available-for-sale securities 359,866 20,564 339,302 — Loans held for sale 45,020 — 45,020 — Total $ 404,886 $ 20,564 $ 384,322 $ — The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of June 30, 2021 and December 31, 2020 that are measured on a non-recurring basis. There were no Level 3 financial instruments for the three months ended June 30, 2021 and June 30, 2020 measured on a recurring basis. Fair Value Measurements, Nonrecurring (Dollars in thousands) Description June 30, Quoted Prices Significant Significant Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 310 — — 310 Mortgage-commercial 5,163 — — 5,163 Consumer: Home equity 21 — — 21 Other — — — — Total impaired 5,494 — — 5,494 Other real estate owned: Construction 641 — — 641 Mortgage-residential 541 — — 541 Total other real estate owned 1,182 — — 1,182 Total $ 6,676 $ — $ — $ 6,676 (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 440 — — 440 Mortgage-commercial 5,629 — — 5,629 Consumer: Home equity 42 — — 42 Other — — — — Total impaired 6,111 — — 6,111 Other real estate owned: Construction 600 — — 600 Mortgage-commercial 594 — — 594 Total other real estate owned 1,194 — — 1,194 Total $ 7,305 $ — $ — $ 7,305 The Company has a large percentage of loans with real estate serving as collateral. Loans which are deemed to be impaired are primarily valued on a nonrecurring basis at the fair value of the underlying real estate collateral. Such fair values are obtained using independent appraisals, which the Company considers to be Level 3 inputs. Third party appraisals are generally obtained when a loan is identified as being impaired or at the time it is transferred to OREO. This internal process consists of evaluating the underlying collateral to independently obtained comparable properties. With respect to less complex or smaller credits, an internal evaluation may be performed. Generally, the independent and internal evaluations are updated annually. Factors considered in determining the fair value include, among others, geographic sales trends, the value of comparable surrounding properties and the condition of the property. The aggregate amount of impaired loans was $5.5 million and $6.1 million as of June 30, 2021 and December 31, 2020, respectively. For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of June 30, 2021 and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value Measurement Inputs and Valuation Techniques (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,182 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 5,494 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,194 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 6,111 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2021 | |
Deposits | Note 7— Deposits The Companys total deposits are comprised of the following at the dates indicated: Schedule of Total Deposits June 30, December 31, (Dollars in thousands) 2021 2020 Non-interest bearing demand deposits $ 417,895 $ 385,511 Interest bearing demand deposits and money market accounts 577,362 520,205 Savings 136,338 123,032 Time deposits 158,288 160,665 Total deposits $ 1,289,883 $ 1,189,413 As of June 30, 2021 and December 31, 2020, the Company had time deposits that meet or exceed the $250,000 FDIC insurance limit of $ 27.9 28.6 |
Reportable Segments
Reportable Segments | 6 Months Ended |
Jun. 30, 2021 | |
Segment Reporting [Abstract] | |
Reportable Segments | Note 8— Reportable Segments The Companys reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning by management. The Company has four reportable segments: ● Commercial and retail banking: The Companys primary business is to provide deposit and lending products and services to its commercial and retail customers. ● Mortgage banking: This segment provides mortgage origination services for loans that will be sold to investors in the secondary market. ● Investment advisory and non-deposit: This segment provides investment advisory services and non-deposit products. ● Corporate: This segment includes the parent company financial information, including interest on parent company debt and dividend income received from the Bank. The following tables present selected financial information for the Companys reportable business segments for the three and six months ended June 30, 2021 and June 30, 2020. Schedule of Segment Reporting Information, by Segment (Dollars in thousands) Commercial Investment Six months ended June 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 22,260 $ 616 $ — $ 2,014 $ (2,008 ) $ 22,882 Interest expense 1,014 — — 209 — 1,223 Net interest income $ 21,246 $ 616 $ — $ 1,805 $ (2,008 ) $ 21,659 Provision for loan losses 345 — — — — 345 Noninterest income 2,747 2,133 1,834 — — 6,714 Noninterest expense 15,412 2,407 1,180 419 — 19,418 Net income before taxes $ 8,236 $ 342 $ 654 $ 1,386 $ (2,008 ) $ 8,610 Income tax provision (benefit) 1,931 — — (119 ) — 1,812 Net income (loss) $ 6,305 $ 342 $ 654 $ 1,505 $ (2,008 ) $ 6,798 (Dollars in thousands) Commercial Investment Six months ended June 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 20,634 $ 732 $ — $ 2,129 $ (2,119 ) $ 21,376 Interest expense 1,903 — — 313 — 2,216 Net interest income $ 18,731 $ 732 $ — $ 1,816 $ (2,119 ) $ 19,160 Provision for loan losses 2,325 — — — — 2,325 Noninterest income 2,456 2,554 1,305 — — 6,315 Noninterest expense 14,713 2,276 924 256 — 18,169 Net income before taxes $ 4,149 $ 1,010 $ 381 $ 1,560 $ (2,119 ) $ 4,981 Income tax provision (benefit) 1,089 — — (119 ) — 970 Net income (loss) $ 3,060 $ 1,010 $ 381 $ 1,679 $ (2,119 ) $ 4,011 (Dollars in thousands) Commercial Investment Three months ended June 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 11,399 $ 263 $ — $ 1,007 $ (1,005 ) $ 11,664 Interest expense 468 — — 104 — 572 Net interest income $ 10,931 $ 263 $ — $ 903 $ (1,005 ) $ 11,092 Provision for loan losses 168 — — — — 168 Noninterest income 1,318 1,143 957 — — 3,418 Noninterest expense 7,788 1,232 596 262 — 9,878 Net income before taxes $ 4,293 $ 174 $ 361 $ 641 $ (1,005 ) $ 4,464 Income tax provision (benefit) 997 — — (76 ) — 921 Net income $ 3,296 $ 174 $ 361 $ 717 $ (1,005 ) $ 3,543 (Dollars in thousands) Commercial Investment Three months ended June 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 10,230 $ 432 $ — $ 1,061 $ (1,057 ) $ 10,666 Interest expense 778 — — 145 — 923 Net interest income $ 9,452 $ 432 $ — $ 916 $ (1,057 ) $ 9,743 Provision for loan losses 1,250 — — — — 1,250 Noninterest income 1,144 1,572 671 — — 3,387 Noninterest expense 7,218 1,312 457 144 — 9,131 Net income before taxes $ 2,128 $ 692 $ 214 $ 772 $ (1,057 ) $ 2,749 Income tax provision (benefit) 592 — — (60 ) — 532 Net income $ 1,536 $ 692 $ 214 $ 832 $ (1,057 ) $ 2,217 Commercial Investment (Dollars in thousands) and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Total Assets as of June 30, 2021 $ 1,491,909 $ 22,342 $ 1 $ 140,337 $ (139,616 ) $ 1,514,973 Total Assets as of December 31, 2020 $ 1,335,320 $ 59,372 $ 2 $ 140,256 $ (139,568 ) $ 1,395,382 |
Leases
Leases | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
Leases | Note 9— Leases During the three-month period ended June 30, 2021 and June 30, 2020, the Company made cash payments for operating leases in the amount of $ 74.1 72.7 148.0 145.3 80.8 161.5 40.7 37.7 81.2 74.8 15.43 16.16 4.42% 4.41% (Dollars in thousands) Liability Year Cash Lease Expense Reduction 2021 $ 150 $ 66 $ 83 2022 303 126 177 2023 309 118 191 2024 282 110 172 2025 222 104 118 Thereafter 2,978 687 2,292 Total $ 4,244 $ 1,211 $ 3,033 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 10— Subsequent Events Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. Management has reviewed events occurring through the date the financial statements were available to be issued and no subsequent events occurred requiring accrual or that require disclosure and have not been disclosed in the footnotes to the Companys unaudited consolidated financial statements as of June 30, 2021. |
Nature of Business and Basis _2
Nature of Business and Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Company has evaluated its exposure to certain industry segments most impacted by the COVID-19 pandemic | The Company has evaluated its exposure to certain industry segments most impacted by the COVID-19 pandemic |
Nature of Business and Basis of Presentation | Industry Segments Outstanding % of Loan Avg. Loan Avg. Loan to (Dollars in millions) Loan Balance Portfolio Size Value Hotels $ 33.9 3.9 % $ 2.3 69 % Restaurants $ 21.3 2.4 % $ 0.7 70 % Assisted Living $ 8.7 1.0 % $ 1.4 46 % Retail $ 83.0 9.5 % $ 0.7 57 % |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Earning Per Common Share | The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation: Schedule of Earning Per Common Share (In thousands except average market price and per share data) |
Earnings Per Common Share | Six months Three months Ended June 30, Ended June 30, 2021 2020 2021 2020 Numerator (Net income available to common shareholders) $ 6,798 $ 4,011 $ 3,543 $ 2,217 Denominator Weighted average common shares outstanding for: Basic shares 7,478 7,432 7,486 7,436 Dilutive securities: Deferred compensation 28 26 29 18 Restricted stock – Treasury stock method 22 10 22 11 Diluted shares 7,528 7,468 7,537 7,465 Earnings per common share: Basic 0.91 0.54 0.47 0.30 Diluted 0.90 0.54 0.47 0.30 The average market price used in calculating assumed number of shares $ 18.95 $ 16.98 $ 19.44 $ 14.97 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Investment Available-For-Sale | The amortized cost and estimated fair values of investment securities are summarized below: Schedule of Investment Available-For-Sale AVAILABLE-FOR-SALE: |
Investment Securities | Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value June 30, 2021 US Treasury securities $ 15,722 $ — $ 274 $ 15,448 Mortgage-backed securities 317,506 5,377 1,642 321,241 Small Business Administration pools 35,558 728 61 36,225 State and local government 84,216 5,417 295 89,338 Corporate and other securities 6,525 174 — 6,699 $ 459,527 $ 11,696 $ 2,272 $ 468,951 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value December 31, 2020 US Treasury securities $ 1,501 $ 1 $ — $ 1,502 Government Sponsored Enterprises 996 10 — 1,006 Mortgage-backed securities 222,739 7,375 185 229,929 Small Business Administration pools 34,577 928 7 35,498 State and local government 82,495 6,184 76 88,603 Corporate and other securities 3,272 56 — 3,328 $ 345,580 $ 14,554 $ 268 $ 359,866 |
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position | The following tables show gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position, at June 30, 2021 and December 31, 2020. Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position |
Investment Securities (Details 2) | (Dollars in thousands) Less than 12 months 12 months or more Total June 30, 2021 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss US Treasury Securities $ 15,448 $ 274 $ — $ — $ 15,448 $ 274 Mortgage-backed securities 145,058 1,564 12,170 78 157,228 1,642 Small Business Administration pools 6,151 61 943 — 7,094 61 State and local government 13,977 295 — — 13,977 295 Total $ 180,634 $ 2,194 $ 13,113 $ 78 $ 193,747 $ 2,272 (Dollars in thousands) Less than 12 months 12 months or more Total December 31, 2020 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss Mortgage-backed securities 21,298 152 1,414 33 22,712 185 Small Business Administration pools — — 1,323 7 1,323 7 State and local government 4,930 76 — — 4,930 76 Total $ 26,228 $ 228 $ 2,737 $ 40 $ 28,965 $ 268 |
Schedule of the amortized cost and fair value of investment securities by expected maturity | The following sets forth the amortized cost and fair value of investment securities at June 30, 2021 by contractual maturity. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay the obligations with or without prepayment penalties. MBSs are based on average life at estimated prepayment speeds. Schedule of the amortized cost and fair value of investment securities by expected maturity |
Investment Securities (Details 3) | Available-for-sale June 30, 2021 Amortized Fair (Dollars in thousands) Cost Value Due in one year or less $ 15,519 $ 15,768 Due after one year through five years 159,613 163,332 Due after five years through ten years 162,819 168,061 Due after ten years 121,576 121,790 Total $ 459,527 $ 468,951 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Receivables [Abstract] | |
Schedule of Loan Portfolio | The following table summarizes the composition of our loan portfolio. Total loans are recorded net of deferred loan fees and costs, which totaled $3.2 million and $2.2 million as of June 30, 2021 and December 31, 2020, respectively. Schedule of Loan Portfolio |
Loans | June 30, December 31, (Dollars in thousands) 2021 2020 Commercial, financial and agricultural $ 111,449 $ 96,688 Real estate: Construction 95,865 95,282 Mortgage-residential 44,594 43,928 Mortgage-commercial 592,099 573,258 Consumer: Home equity 26,662 26,442 Other 7,649 8,559 Total loans, net of deferred loan fees and costs $ 878,318 $ 844,157 |
Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable | The detailed activity in the allowance for loan losses and the recorded investment in loans receivable as of and for the three months ended and six months ended June 30, 2021 and June 30, 2020 and for the year ended December 31, 2020 is as follows: Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended June 30, 2021 Allowance for loan losses: Beginning balance March 31, 2021 $ 758 $ 134 $ 480 $ 8,137 $ 309 $ 124 $ 621 $ 10,563 Charge-offs — — — (110 ) — (11 ) — (121 ) Recoveries 2 — — 7 5 14 — 28 Provisions 134 (9 ) 62 (8 ) 8 (16 ) (3 ) 168 Ending balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total Six months ended June 30, 2021 Allowance for loan losses: Beginning balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Charge-offs — — — (110 ) — (36 ) — (146 ) Recoveries 3 — — 11 6 30 — 50 Provisions 113 (20 ) 1 270 (8 ) (8 ) (3 ) 345 Ending balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 894 125 542 8,024 322 111 618 10,636 June 30, 2021 Loans receivable: Ending balance-total $ 111,449 $ 95,865 $ 44,594 $ 592,099 $ 26,662 $ 7,649 $ — $ 878,318 Ending balances: Individually evaluated for impairment — — 310 5,163 21 — — 5,494 Collectively evaluated for impairment $ 111,449 $ 95,865 $ 44,284 $ 586,936 $ 26,641 $ 7,649 $ — $ 872,824 (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended June 30, 2020 Allowance for loan losses: Beginning balance March 31, 2020 $ 489 $ 148 $ 440 $ 5,531 $ 277 $ 112 $ 697 $ 7,694 Charge-offs — — — — — (25 ) — (25 ) Recoveries 3 — — 3 — 11 — 17 Provisions 277 17 57 935 16 34 (86 ) 1,250 Ending balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Note 4—Loans-continued (Dollars in thousands) Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer Commercial Construction Residential Commercial equity Other Unallocated Total Six months ended June 30, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — — — — — (48 ) — (48 ) Recoveries 3 — — 9 1 19 — 32 Provisions 339 54 130 1,858 52 64 (172 ) 2,325 Ending balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 4 $ — $ — $ — $ 4 Collectively evaluated for impairment 769 165 497 6,465 293 132 611 8,932 June 30, 2020 Loans receivable: Ending balance-total $ 107,184 $ 82,584 $ 45,424 $ 544,670 $ 27,156 $ 10,354 $ — $ 817,372 Ending balances: Individually evaluated for impairment — — 333 3,020 66 — — 3,419 Collectively evaluated for impairment $ 107,184 $ 82,584 $ 45,091 $ 541,650 $ 27,090 $ 10,354 $ — $ 813,953 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total December 31, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (107 ) — (110 ) Recoveries 130 2 — 23 2 52 — 209 Provisions 221 34 174 3,231 82 83 (162 ) 3,663 Ending balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 778 145 541 7,853 324 125 621 10,387 December 31, 2020 Loans receivable: Ending balance-total $ 96,688 $ 95,282 $ 43,928 $ 573,258 $ 26,442 $ 8,559 $ — $ 844,157 Ending balances: Individually evaluated for impairment — — 440 5,631 42 — — 6,113 Collectively evaluated for impairment 96,688 95,282 43,488 567,627 26,400 8,559 — 838,044 |
[custom:DisclosureLoansDetails2Abstract] | (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended June 30, 2021 Allowance for loan losses: Beginning balance March 31, 2021 $ 758 $ 134 $ 480 $ 8,137 $ 309 $ 124 $ 621 $ 10,563 Charge-offs — — — (110 ) — (11 ) — (121 ) Recoveries 2 — — 7 5 14 — 28 Provisions 134 (9 ) 62 (8 ) 8 (16 ) (3 ) 168 Ending balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total Six months ended June 30, 2021 Allowance for loan losses: Beginning balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Charge-offs — — — (110 ) — (36 ) — (146 ) Recoveries 3 — — 11 6 30 — 50 Provisions 113 (20 ) 1 270 (8 ) (8 ) (3 ) 345 Ending balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 894 125 542 8,024 322 111 618 10,636 June 30, 2021 Loans receivable: Ending balance-total $ 111,449 $ 95,865 $ 44,594 $ 592,099 $ 26,662 $ 7,649 $ — $ 878,318 Ending balances: Individually evaluated for impairment — — 310 5,163 21 — — 5,494 Collectively evaluated for impairment $ 111,449 $ 95,865 $ 44,284 $ 586,936 $ 26,641 $ 7,649 $ — $ 872,824 (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended June 30, 2020 Allowance for loan losses: Beginning balance March 31, 2020 $ 489 $ 148 $ 440 $ 5,531 $ 277 $ 112 $ 697 $ 7,694 Charge-offs — — — — — (25 ) — (25 ) Recoveries 3 — — 3 — 11 — 17 Provisions 277 17 57 935 16 34 (86 ) 1,250 Ending balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Note 4—Loans-continued (Dollars in thousands) Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer Commercial Construction Residential Commercial equity Other Unallocated Total Six months ended June 30, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — — — — — (48 ) — (48 ) Recoveries 3 — — 9 1 19 — 32 Provisions 339 54 130 1,858 52 64 (172 ) 2,325 Ending balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 4 $ — $ — $ — $ 4 Collectively evaluated for impairment 769 165 497 6,465 293 132 611 8,932 June 30, 2020 Loans receivable: Ending balance-total $ 107,184 $ 82,584 $ 45,424 $ 544,670 $ 27,156 $ 10,354 $ — $ 817,372 Ending balances: Individually evaluated for impairment — — 333 3,020 66 — — 3,419 Collectively evaluated for impairment $ 107,184 $ 82,584 $ 45,091 $ 541,650 $ 27,090 $ 10,354 $ — $ 813,953 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total December 31, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (107 ) — (110 ) Recoveries 130 2 — 23 2 52 — 209 Provisions 221 34 174 3,231 82 83 (162 ) 3,663 Ending balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 778 145 541 7,853 324 125 621 10,387 December 31, 2020 Loans receivable: Ending balance-total $ 96,688 $ 95,282 $ 43,928 $ 573,258 $ 26,442 $ 8,559 $ — $ 844,157 Ending balances: Individually evaluated for impairment — — 440 5,631 42 — — 6,113 Collectively evaluated for impairment 96,688 95,282 43,488 567,627 26,400 8,559 — 838,044 |
Schedule of loan category and loans individually evaluated and considered impaired | The following tables as of June 30, 2021, June 30, 2020, and December 31, 2020, are by loan category and present loans individually evaluated and considered impaired under FASB ASC 310 Accounting by Creditors for Impairment of a Loan. Impairment includes performing TDRs. Schedule of loan category and loans individually evaluated and considered impaired (Dollars in thousands) Six months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income June 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 310 361 — 315 7 310 4 Mortgage-commercial 5,062 7,689 — 5,332 188 5,168 94 Consumer: Home equity 21 25 — 21 1 20 — Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 101 101 2 111 3 101 1 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 310 361 — 315 7 310 4 Mortgage-commercial 5,163 7,790 2 5,443 191 5,269 95 Consumer: Home equity 21 25 — 21 1 20 — Other — — — — — — — $ 5,494 8,176 $ 2 $ 5,779 $ 199 $ 5,599 $ 99 (Dollars in thousands) Six months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income June 30, 2020 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 333 425 — 337 10 331 7 Mortgage-commercial 2,827 5,567 — 3,189 147 3,141 74 Consumer: Home equity 66 70 — 68 2 66 1 Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 193 193 4 216 6 193 3 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 333 425 — 337 10 331 7 Mortgage-commercial 3,020 5,760 4 3,405 153 3,334 77 Consumer: Home equity 66 70 — 68 2 66 1 Other — — — — — — — $ 3,419 6,255 $ 4 $ 3,810 $ 165 $ 3,731 $ 85 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income December 31, 2020 Investment Balance Allowance Investment Recognized With an allowance recorded: Commercial — — — — — With no allowance recorded: Commercial $ — $ — $ — $ — $ — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,508 7,980 — 5,770 388 Consumer: Home Equity 42 47 — 42 3 Other — — — — — With an allowance recorded: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential — — — — — Mortgage-commercial 123 123 2 123 11 Consumer: Home Equity — — — — — Other — — — — — Total: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,631 8,103 2 5,893 399 Consumer: Home Equity 42 47 — 42 3 Other — — — — — $ 6,113 $ 8,649 $ 2 $ 6,375 $ 403 |
[custom:DisclosureLoansDetails3Abstract] | (Dollars in thousands) Six months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income June 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 310 361 — 315 7 310 4 Mortgage-commercial 5,062 7,689 — 5,332 188 5,168 94 Consumer: Home equity 21 25 — 21 1 20 — Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 101 101 2 111 3 101 1 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 310 361 — 315 7 310 4 Mortgage-commercial 5,163 7,790 2 5,443 191 5,269 95 Consumer: Home equity 21 25 — 21 1 20 — Other — — — — — — — $ 5,494 8,176 $ 2 $ 5,779 $ 199 $ 5,599 $ 99 (Dollars in thousands) Six months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income June 30, 2020 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 333 425 — 337 10 331 7 Mortgage-commercial 2,827 5,567 — 3,189 147 3,141 74 Consumer: Home equity 66 70 — 68 2 66 1 Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 193 193 4 216 6 193 3 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 333 425 — 337 10 331 7 Mortgage-commercial 3,020 5,760 4 3,405 153 3,334 77 Consumer: Home equity 66 70 — 68 2 66 1 Other — — — — — — — $ 3,419 6,255 $ 4 $ 3,810 $ 165 $ 3,731 $ 85 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income December 31, 2020 Investment Balance Allowance Investment Recognized With an allowance recorded: Commercial — — — — — With no allowance recorded: Commercial $ — $ — $ — $ — $ — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,508 7,980 — 5,770 388 Consumer: Home Equity 42 47 — 42 3 Other — — — — — With an allowance recorded: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential — — — — — Mortgage-commercial 123 123 2 123 11 Consumer: Home Equity — — — — — Other — — — — — Total: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,631 8,103 2 5,893 399 Consumer: Home Equity 42 47 — 42 3 Other — — — — — $ 6,113 $ 8,649 $ 2 $ 6,375 $ 403 |
Schedule of loan category and loan by risk categories | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is shown in the table below as of June 30, 2021 and December 31, 2020. As of June 30, 2021 and December 31, 2020, no loans were classified as doubtful. Schedule of loan category and loan by risk categories |
Loans (Details 4) | (Dollars in thousands) Special June 30, 2021 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 111,273 $ 176 $ — $ — $ 111,449 Real estate: Construction 95,858 7 — — 95,865 Mortgage – residential 44,111 154 329 — 44,594 Mortgage – commercial 579,401 2,529 10,169 — 592,099 Consumer: Home Equity 25,244 219 1,199 — 26,662 Other 7,639 — 10 — 7,649 Total $ 863,526 $ 3,085 $ 11,707 $ — $ 878,318 (Dollars in thousands) Special December 31, 2020 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 96,507 $ 181 $ — $ — $ 96,688 Real estate: Construction 95,282 — — — 95,282 Mortgage – residential 43,240 190 498 — 43,928 Mortgage – commercial 559,982 7,270 6,006 — 573,258 Consumer: Home Equity 25,041 95 1,306 — 26,442 Other 8,538 21 — — 8,559 Total $ 828,590 $ 7,757 $ 7,810 $ — $ 844,157 |
Schedule of loan category and present loans past due and on non-accrual status | The following tables are by loan category and present loans past due and on non-accrual status as of June 30, 2021 and December 31, 2020: Schedule of loan category and present loans past due and on non-accrual status Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total June 30, 2021 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 111 $ — $ 4,164 $ 3,654 $ 7,929 $ 103,520 $ 111,449 Real estate: Construction — — — — — 95,865 95,865 Mortgage-residential 36 — — 311 347 44,247 44,594 Mortgage-commercial — — — — — 592,099 592,099 Consumer: Home equity — — — 21 21 26,641 26,662 Other 24 — 1 — 25 7,624 7,649 $ 171 $ — $ 4,165 $ 3,986 $ 8,322 $ 869,996 $ 878,318 Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total December 31, 2020 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 165 $ 27 $ — $ 4,080 $ 4,272 $ 92,416 $ 96,688 Real estate: Construction 424 — 1,260 — 1,684 93,598 95,282 Mortgage-residential 7 — — 440 447 43,481 43,928 Mortgage-commercial — — — — — 573,258 573,258 Consumer: Home equity — — — 42 42 26,400 26,442 Other 21 21 — — 42 8,517 8,559 $ 617 $ 48 $ 1,260 $ 4,562 $ 6,487 $ 837,670 $ 844,157 |
[custom:DisclosureLoansDetails5Abstract] | Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total June 30, 2021 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 111 $ — $ 4,164 $ 3,654 $ 7,929 $ 103,520 $ 111,449 Real estate: Construction — — — — — 95,865 95,865 Mortgage-residential 36 — — 311 347 44,247 44,594 Mortgage-commercial — — — — — 592,099 592,099 Consumer: Home equity — — — 21 21 26,641 26,662 Other 24 — 1 — 25 7,624 7,649 $ 171 $ — $ 4,165 $ 3,986 $ 8,322 $ 869,996 $ 878,318 Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total December 31, 2020 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 165 $ 27 $ — $ 4,080 $ 4,272 $ 92,416 $ 96,688 Real estate: Construction 424 — 1,260 — 1,684 93,598 95,282 Mortgage-residential 7 — — 440 447 43,481 43,928 Mortgage-commercial — — — — — 573,258 573,258 Consumer: Home equity — — — 42 42 26,400 26,442 Other 21 21 — — 42 8,517 8,559 $ 617 $ 48 $ 1,260 $ 4,562 $ 6,487 $ 837,670 $ 844,157 |
Schedule for changes in the accretable yield for PCI loans | A summary of changes in the accretable yield for purchased credit-impaired loans for the three months and six months ended June 30, 2021 and June 30, 2020 are as follows: Schedule for changes in the accretable yield for PCI loans |
Loans (Details 6) | (Dollars in thousands) Three Months Three Months Accretable yield, beginning of period $ 86 $ 116 Accretion (7 ) (7 ) Accretable yield, end of period $ 79 $ 109 (Dollars in thousands) Six Months Six Months Accretable yield, beginning of period $ 93 $ 123 Accretion (14 ) (14 ) Accretable yield, end of period $ 79 $ 109 |
Schedule of related party loan | Related party loans and lines of credit are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and generally do not involve more than the normal risk of collectability. The following table presents related party loan transactions for the three months ended June 30, 2021 and June 30, 2020: Schedule of related party loan (Dollars in thousands) 2021 2020 Beginning Balance December 31, $ 3,297 $ 4,109 New Loans 2 55 Less loan repayments 225 437 Ending Balance June 30, $ 3,074 $ 3,727 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value by classification level of the Companys financial instruments as of June 30, 2021 and December 31, 2020 are as follows: Fair Value, by Balance Sheet Grouping |
Fair Value of Financial Instruments | June 30, 2021 Fair Value (Dollars in thousands) Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 75,987 $ 75,987 $ 75,987 $ — $ — Investment securities available-for-sale 468,951 468,951 25,576 443,375 — Other investments, at cost 1,718 1,718 — — 1,718 Loans held-for-sale 11,416 11,416 — 11,416 — Net loans receivable 867,680 871,342 — — 871,342 Accrued interest receivable 4,012 4,012 4,012 — — Financial liabilities: Non-interest bearing demand $ 417,895 $ 417,895 $ — $ 417,895 $ — Interest bearing demand deposits and money market accounts 577,362 577,362 — 577,362 — Savings 136,338 136,338 — 136,338 — Time deposits 158,288 158,763 — 158,763 — Total deposits 1,289,883 1,290,358 — 1,290,358 — Securities sold under agreements to repurchase 60,487 60,487 — 60,487 — Junior subordinated debt 14,964 14,493 — 14,493 — Accrued interest payable 505 505 505 — — December 31, 2020 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 64,992 $ 64,992 $ 64,992 $ — $ — Investment securities available-for-sale 359,866 359,866 20,564 339,302 — Other investments, at cost 2,053 2,053 — — 2,053 Loans held for sale 45,020 45,020 — 45,020 — Net loans receivable 833,768 829,685 — — 829,685 Accrued interest receivable 4,167 4,167 4,167 — — Financial liabilities: Non-interest bearing demand $ 385,511 $ 385,511 $ — $ 385,511 $ — Interest bearing demand deposits and money market accounts 520,205 520,205 — 520,205 — Savings 123,032 123,032 — 123,032 — Time deposits 160,665 161,505 — 61,505 — Total deposits 1,189,413 1,190,253 — 1,190,253 — Securities sold under agreements to repurchase 40,914 40,914 — 40,914 — Junior subordinated debt 14,964 11,748 — 11,748 — Accrued interest payable 667 667 667 — — |
Fair Value, Assets Measured on Recurring Basis | Fair Value, Assets Measured on Recurring Basis (Dollars in thousands) Description June 30, Quoted Prices Significant Significant Available-for-sale securities US treasury securities $ 15,448 $ — $ 15,448 $ — Government sponsored enterprises — — — — Mortgage-backed securities 321,241 22,326 298,915 — Small Business Administration pools 36,225 — 36,225 — State and local government 89,338 — 89,338 — Corporate and other securities 6,699 3,250 3,449 — Total Available-for-sale securities 468,951 25,576 443,375 — Loans held-for-sale 11,416 — 11,416 — Total $ 480,367 $ 25,576 $ 454,791 $ — (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Available- for-sale securities US Treasury Securities $ 1,502 $ — $ 1,502 $ — Government Sponsored Enterprises 1,006 — 1,006 — Mortgage-backed securities 229,929 17,029 212,900 — Small Business Administration pools 35,498 — 35,498 — State and local government 88,603 3,535 85,068 — Corporate and other securities 3,328 — 3,328 — Total Available-for-sale securities 359,866 20,564 339,302 — Loans held for sale 45,020 — 45,020 — Total $ 404,886 $ 20,564 $ 384,322 $ — |
[custom:DisclosureFairValueOfFinancialInstrumentsDetails2Abstract] | Description June 30, Quoted Prices Significant Significant Available-for-sale securities US treasury securities $ 15,448 $ — $ 15,448 $ — Government sponsored enterprises — — — — Mortgage-backed securities 321,241 22,326 298,915 — Small Business Administration pools 36,225 — 36,225 — State and local government 89,338 — 89,338 — Corporate and other securities 6,699 3,250 3,449 — Total Available-for-sale securities 468,951 25,576 443,375 — Loans held-for-sale 11,416 — 11,416 — Total $ 480,367 $ 25,576 $ 454,791 $ — (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Available- for-sale securities US Treasury Securities $ 1,502 $ — $ 1,502 $ — Government Sponsored Enterprises 1,006 — 1,006 — Mortgage-backed securities 229,929 17,029 212,900 — Small Business Administration pools 35,498 — 35,498 — State and local government 88,603 3,535 85,068 — Corporate and other securities 3,328 — 3,328 — Total Available-for-sale securities 359,866 20,564 339,302 — Loans held for sale 45,020 — 45,020 — Total $ 404,886 $ 20,564 $ 384,322 $ — |
Fair Value Measurements, Nonrecurring | The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of June 30, 2021 and December 31, 2020 that are measured on a non-recurring basis. There were no Level 3 financial instruments for the three months ended June 30, 2021 and June 30, 2020 measured on a recurring basis. Fair Value Measurements, Nonrecurring (Dollars in thousands) Description June 30, Quoted Prices Significant Significant Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 310 — — 310 Mortgage-commercial 5,163 — — 5,163 Consumer: Home equity 21 — — 21 Other — — — — Total impaired 5,494 — — 5,494 Other real estate owned: Construction 641 — — 641 Mortgage-residential 541 — — 541 Total other real estate owned 1,182 — — 1,182 Total $ 6,676 $ — $ — $ 6,676 (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 440 — — 440 Mortgage-commercial 5,629 — — 5,629 Consumer: Home equity 42 — — 42 Other — — — — Total impaired 6,111 — — 6,111 Other real estate owned: Construction 600 — — 600 Mortgage-commercial 594 — — 594 Total other real estate owned 1,194 — — 1,194 Total $ 7,305 $ — $ — $ 7,305 |
[custom:DisclosureFairValueOfFinancialInstrumentsDetails3Abstract] | (Dollars in thousands) Description June 30, Quoted Prices Significant Significant Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 310 — — 310 Mortgage-commercial 5,163 — — 5,163 Consumer: Home equity 21 — — 21 Other — — — — Total impaired 5,494 — — 5,494 Other real estate owned: Construction 641 — — 641 Mortgage-residential 541 — — 541 Total other real estate owned 1,182 — — 1,182 Total $ 6,676 $ — $ — $ 6,676 (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 440 — — 440 Mortgage-commercial 5,629 — — 5,629 Consumer: Home equity 42 — — 42 Other — — — — Total impaired 6,111 — — 6,111 Other real estate owned: Construction 600 — — 600 Mortgage-commercial 594 — — 594 Total other real estate owned 1,194 — — 1,194 Total $ 7,305 $ — $ — $ 7,305 |
Fair Value Measurement Inputs and Valuation Techniques | For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of June 30, 2021 and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value Measurement Inputs and Valuation Techniques |
Fair Value of Financial Instruments (Details 4) | (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,182 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 5,494 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,194 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 6,111 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Schedule of Total Deposits | The Companys total deposits are comprised of the following at the dates indicated: Schedule of Total Deposits |
Deposits | June 30, December 31, (Dollars in thousands) 2021 2020 Non-interest bearing demand deposits $ 417,895 $ 385,511 Interest bearing demand deposits and money market accounts 577,362 520,205 Savings 136,338 123,032 Time deposits 158,288 160,665 Total deposits $ 1,289,883 $ 1,189,413 |
Reportable Segments (Tables)
Reportable Segments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following tables present selected financial information for the Companys reportable business segments for the three and six months ended June 30, 2021 and June 30, 2020. Schedule of Segment Reporting Information, by Segment (Dollars in thousands) Commercial Investment Six months ended June 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 22,260 $ 616 $ — $ 2,014 $ (2,008 ) $ 22,882 Interest expense 1,014 — — 209 — 1,223 Net interest income $ 21,246 $ 616 $ — $ 1,805 $ (2,008 ) $ 21,659 Provision for loan losses 345 — — — — 345 Noninterest income 2,747 2,133 1,834 — — 6,714 Noninterest expense 15,412 2,407 1,180 419 — 19,418 Net income before taxes $ 8,236 $ 342 $ 654 $ 1,386 $ (2,008 ) $ 8,610 Income tax provision (benefit) 1,931 — — (119 ) — 1,812 Net income (loss) $ 6,305 $ 342 $ 654 $ 1,505 $ (2,008 ) $ 6,798 (Dollars in thousands) Commercial Investment Six months ended June 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 20,634 $ 732 $ — $ 2,129 $ (2,119 ) $ 21,376 Interest expense 1,903 — — 313 — 2,216 Net interest income $ 18,731 $ 732 $ — $ 1,816 $ (2,119 ) $ 19,160 Provision for loan losses 2,325 — — — — 2,325 Noninterest income 2,456 2,554 1,305 — — 6,315 Noninterest expense 14,713 2,276 924 256 — 18,169 Net income before taxes $ 4,149 $ 1,010 $ 381 $ 1,560 $ (2,119 ) $ 4,981 Income tax provision (benefit) 1,089 — — (119 ) — 970 Net income (loss) $ 3,060 $ 1,010 $ 381 $ 1,679 $ (2,119 ) $ 4,011 (Dollars in thousands) Commercial Investment Three months ended June 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 11,399 $ 263 $ — $ 1,007 $ (1,005 ) $ 11,664 Interest expense 468 — — 104 — 572 Net interest income $ 10,931 $ 263 $ — $ 903 $ (1,005 ) $ 11,092 Provision for loan losses 168 — — — — 168 Noninterest income 1,318 1,143 957 — — 3,418 Noninterest expense 7,788 1,232 596 262 — 9,878 Net income before taxes $ 4,293 $ 174 $ 361 $ 641 $ (1,005 ) $ 4,464 Income tax provision (benefit) 997 — — (76 ) — 921 Net income $ 3,296 $ 174 $ 361 $ 717 $ (1,005 ) $ 3,543 (Dollars in thousands) Commercial Investment Three months ended June 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 10,230 $ 432 $ — $ 1,061 $ (1,057 ) $ 10,666 Interest expense 778 — — 145 — 923 Net interest income $ 9,452 $ 432 $ — $ 916 $ (1,057 ) $ 9,743 Provision for loan losses 1,250 — — — — 1,250 Noninterest income 1,144 1,572 671 — — 3,387 Noninterest expense 7,218 1,312 457 144 — 9,131 Net income before taxes $ 2,128 $ 692 $ 214 $ 772 $ (1,057 ) $ 2,749 Income tax provision (benefit) 592 — — (60 ) — 532 Net income $ 1,536 $ 692 $ 214 $ 832 $ (1,057 ) $ 2,217 Commercial Investment (Dollars in thousands) and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Total Assets as of June 30, 2021 $ 1,491,909 $ 22,342 $ 1 $ 140,337 $ (139,616 ) $ 1,514,973 Total Assets as of December 31, 2020 $ 1,335,320 $ 59,372 $ 2 $ 140,256 $ (139,568 ) $ 1,395,382 |
[custom:DisclosureReportableSegmentsDetailsAbstract] | (Dollars in thousands) Commercial Investment Six months ended June 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 22,260 $ 616 $ — $ 2,014 $ (2,008 ) $ 22,882 Interest expense 1,014 — — 209 — 1,223 Net interest income $ 21,246 $ 616 $ — $ 1,805 $ (2,008 ) $ 21,659 Provision for loan losses 345 — — — — 345 Noninterest income 2,747 2,133 1,834 — — 6,714 Noninterest expense 15,412 2,407 1,180 419 — 19,418 Net income before taxes $ 8,236 $ 342 $ 654 $ 1,386 $ (2,008 ) $ 8,610 Income tax provision (benefit) 1,931 — — (119 ) — 1,812 Net income (loss) $ 6,305 $ 342 $ 654 $ 1,505 $ (2,008 ) $ 6,798 (Dollars in thousands) Commercial Investment Six months ended June 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 20,634 $ 732 $ — $ 2,129 $ (2,119 ) $ 21,376 Interest expense 1,903 — — 313 — 2,216 Net interest income $ 18,731 $ 732 $ — $ 1,816 $ (2,119 ) $ 19,160 Provision for loan losses 2,325 — — — — 2,325 Noninterest income 2,456 2,554 1,305 — — 6,315 Noninterest expense 14,713 2,276 924 256 — 18,169 Net income before taxes $ 4,149 $ 1,010 $ 381 $ 1,560 $ (2,119 ) $ 4,981 Income tax provision (benefit) 1,089 — — (119 ) — 970 Net income (loss) $ 3,060 $ 1,010 $ 381 $ 1,679 $ (2,119 ) $ 4,011 (Dollars in thousands) Commercial Investment Three months ended June 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 11,399 $ 263 $ — $ 1,007 $ (1,005 ) $ 11,664 Interest expense 468 — — 104 — 572 Net interest income $ 10,931 $ 263 $ — $ 903 $ (1,005 ) $ 11,092 Provision for loan losses 168 — — — — 168 Noninterest income 1,318 1,143 957 — — 3,418 Noninterest expense 7,788 1,232 596 262 — 9,878 Net income before taxes $ 4,293 $ 174 $ 361 $ 641 $ (1,005 ) $ 4,464 Income tax provision (benefit) 997 — — (76 ) — 921 Net income $ 3,296 $ 174 $ 361 $ 717 $ (1,005 ) $ 3,543 (Dollars in thousands) Commercial Investment Three months ended June 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 10,230 $ 432 $ — $ 1,061 $ (1,057 ) $ 10,666 Interest expense 778 — — 145 — 923 Net interest income $ 9,452 $ 432 $ — $ 916 $ (1,057 ) $ 9,743 Provision for loan losses 1,250 — — — — 1,250 Noninterest income 1,144 1,572 671 — — 3,387 Noninterest expense 7,218 1,312 457 144 — 9,131 Net income before taxes $ 2,128 $ 692 $ 214 $ 772 $ (1,057 ) $ 2,749 Income tax provision (benefit) 592 — — (60 ) — 532 Net income $ 1,536 $ 692 $ 214 $ 832 $ (1,057 ) $ 2,217 Commercial Investment (Dollars in thousands) and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Total Assets as of June 30, 2021 $ 1,491,909 $ 22,342 $ 1 $ 140,337 $ (139,616 ) $ 1,514,973 Total Assets as of December 31, 2020 $ 1,335,320 $ 59,372 $ 2 $ 140,256 $ (139,568 ) $ 1,395,382 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | |
Leases | (Dollars in thousands) Liability Year Cash Lease Expense Reduction 2021 $ 150 $ 66 $ 83 2022 303 126 177 2023 309 118 191 2024 282 110 172 2025 222 104 118 Thereafter 2,978 687 2,292 Total $ 4,244 $ 1,211 $ 3,033 |
Nature of Business and Basis _3
Nature of Business and Basis of Presentation (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 878,318 | $ 844,157 | $ 817,372 |
Payment Deferral [Member] | Hotels [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 33,900 | ||
Percentage of Loan Portfolio | 390.00% | ||
Average Loan Size | $ 2,300 | ||
Average Loan to Value | 6900.00% | ||
Payment Deferral [Member] | Restaurants [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 21,300 | ||
Percentage of Loan Portfolio | 240.00% | ||
Average Loan Size | $ 700 | ||
Average Loan to Value | 7000.00% | ||
Payment Deferral [Member] | Assisted Living [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 8,700 | ||
Percentage of Loan Portfolio | 100.00% | ||
Average Loan Size | $ 1,400 | ||
Average Loan to Value | 4600.00% | ||
Payment Deferral [Member] | Retail [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 83,000 | ||
Percentage of Loan Portfolio | 950.00% | ||
Average Loan Size | $ 700 | ||
Average Loan to Value | 5700.00% |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Numerator (Net income available to common shareholders) | $ 3,543 | $ 2,217 | $ 6,798 | $ 4,011 |
Weighted average common shares outstanding for: | ||||
Basic shares | 7,486,000 | 7,436,000 | 7,478,000 | 7,432,000 |
Dilutive securities: | ||||
Deferred compensation | 29,000 | 18,000 | 28,000 | 26,000 |
Restricted stock – Treasury stock method | 22,000 | 11,000 | 22,000 | 10,000 |
Diluted shares | 7,537,000 | 7,465,000 | 7,528,000 | 7,468,000 |
Basic | $ 0.47 | $ 0.30 | $ 0.91 | $ 0.54 |
Diluted | 0.47 | 0.30 | 0.90 | 0.54 |
The average market price used in calculating assumed number of shares | $ 19.44 | $ 14.97 | $ 18.95 | $ 16.98 |
Earnings Per Common Share (De_2
Earnings Per Common Share (Details Narrative) - USD ($) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
Earnings Per Share [Abstract] | ||||
Deferred Compensation Arrangements, Overall, Description | At June 30, 2021 and December 31, 2020, there were 83,198 and 88,412 units in the plan, respectively. | |||
Deferred Compensation Liability | $ 1,100 | $ 1,100 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 225,000 | 94,910 | ||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | 479,500 | 283,100 | ||
Accured Compensation Cost over Vesting Period | $ 62,400 | $ 107,400 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | $ 459,527 | $ 345,580 |
Available-for-sale Securities | 468,951 | 359,866 |
Available-for-sale Securities, Gross Unrealized Gain | 11,696 | 14,554 |
Available-for-sale Securities, Gross Unrealized Loss | 2,272 | 268 |
US Treasury Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 15,722 | 1,501 |
Available-for-sale Securities | 15,448 | 1,502 |
Available-for-sale Securities, Gross Unrealized Gain | 1 | |
Available-for-sale Securities, Gross Unrealized Loss | 274 | 0 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 317,506 | 222,739 |
Available-for-sale Securities | 321,241 | 229,929 |
Available-for-sale Securities, Gross Unrealized Gain | 5,377 | 7,375 |
Available-for-sale Securities, Gross Unrealized Loss | 1,642 | 185 |
Small Business Administration pools [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 35,558 | 34,577 |
Available-for-sale Securities | 36,225 | 35,498 |
Available-for-sale Securities, Gross Unrealized Gain | 728 | 928 |
Available-for-sale Securities, Gross Unrealized Loss | 61 | 7 |
US States and Political Subdivisions Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 84,216 | 82,495 |
Available-for-sale Securities | 89,338 | 88,603 |
Available-for-sale Securities, Gross Unrealized Gain | 5,417 | 6,184 |
Available-for-sale Securities, Gross Unrealized Loss | 295 | 76 |
Corporate and other securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 6,525 | 3,272 |
Available-for-sale Securities | 6,699 | 3,328 |
Available-for-sale Securities, Gross Unrealized Gain | 174 | 56 |
Available-for-sale Securities, Gross Unrealized Loss | $ 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 996 | |
Available-for-sale Securities | 1,006 | |
Available-for-sale Securities, Gross Unrealized Gain | 10 | |
Available-for-sale Securities, Gross Unrealized Loss | $ 0 |
Investment Securities (Details
Investment Securities (Details 2) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 180,634 | $ 26,228 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2,194 | 228 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 13,113 | 2,737 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 78 | 40 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 193,747 | 28,965 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 2,272 | 268 |
US Treasury Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 15,448 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 274 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 15,448 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 274 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 145,058 | 21,298 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,564 | 152 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 12,170 | 1,414 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 78 | 33 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 157,228 | 22,712 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 1,642 | 185 |
Small Business Administration pools [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 6,151 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 61 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 943 | 1,323 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 7 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 7,094 | 1,323 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 61 | 7 |
US States and Political Subdivisions Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 13,977 | 4,930 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 295 | 76 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 13,977 | 4,930 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 295 | $ 76 |
Investment Securities (Detail_2
Investment Securities (Details 3) $ in Thousands | Jun. 30, 2021USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost | $ 15,519 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 15,768 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost | 159,613 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 163,332 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost | 162,819 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 168,061 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost | 121,576 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | 121,790 |
Debt Securities, Available-for-sale, Amortized Cost | 459,527 |
Debt Securities, Available-for-sale | $ 468,951 |
Investment Securities (Detail_3
Investment Securities (Details Narrative) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | $ 468,951 | ||
Federal Home Loan Bank Stock | 698,300 | $ 1,100 | |
Corporate Fixed To Float Bonds [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 6,700 | 3,300 | |
Mutual Funds [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 10,200 | 8,000 | |
Available-for-sale Securities, Gross Realized Gains | 2,200 | $ 2,100 | |
Debt Security, Corporate, Non-US [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 10,000 | 10,000 | |
Corporate Bond Securities [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 1,000 | 1,000 | |
Venture Capital Funds [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 20,000 | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Marketable Securities [Line Items] | |||
Security Owned and Pledged as Collateral, Amortized Cost | 353,100 | 257,300 | |
Security Owned and Pledged as Collateral, Fair Value | 357,500 | 265,400 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Marketable Securities [Line Items] | |||
Security Owned and Pledged as Collateral, Amortized Cost | 51,200 | 57,400 | |
Security Owned and Pledged as Collateral, Fair Value | $ 49,100 | $ 54,700 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | $ 878,318 | $ 844,157 | $ 817,372 |
Commercial, Financial And Agricultural Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 111,449 | 96,688 | 107,184 |
Construction Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 95,865 | 95,282 | 82,584 |
Residential Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 44,594 | 43,928 | 45,424 |
Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 592,099 | 573,258 | 544,670 |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 26,662 | 26,442 | 27,156 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | $ 7,649 | $ 8,559 | $ 10,354 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | $ 10,563 | $ 7,694 | $ 10,389 | $ 6,627 | $ 6,627 |
Charge-offs | (121) | (25) | (146) | (48) | (110) |
Recoveries | 28 | 17 | 50 | 32 | 209 |
Provisions | 168 | 1,250 | 345 | 2,325 | 3,663 |
Ending balance December 31, 2020 | 10,638 | 8,936 | 10,638 | 8,936 | 10,389 |
Individually evaluated for impairment | 2 | 4 | 2 | 4 | 2 |
Collectively evaluated for impairment | 10,636 | 8,932 | 10,636 | 8,932 | 10,387 |
Loans held-for-investment | 878,318 | 817,372 | 878,318 | 817,372 | 844,157 |
Individually evaluated for impairment | 5,494 | 3,419 | 5,494 | 3,419 | 6,113 |
Collectively evaluated for impairment | 872,824 | 813,953 | 872,824 | 813,953 | 838,044 |
Commercial, Financial And Agricultural Loan [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 758 | 489 | 778 | 427 | 427 |
Charge-offs | |||||
Recoveries | 2 | 3 | 3 | 3 | 130 |
Provisions | 134 | 277 | 113 | 339 | 221 |
Ending balance December 31, 2020 | 894 | 769 | 894 | 769 | 778 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 894 | 769 | 894 | 769 | 778 |
Loans held-for-investment | 111,449 | 107,184 | 111,449 | 107,184 | 96,688 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 111,449 | 107,184 | 111,449 | 107,184 | 96,688 |
Construction Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 134 | 148 | 145 | 111 | 111 |
Charge-offs | (2) | ||||
Recoveries | 2 | ||||
Provisions | (9) | 17 | (20) | 54 | 34 |
Ending balance December 31, 2020 | 125 | 165 | 125 | 165 | 145 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 125 | 165 | 125 | 165 | 145 |
Loans held-for-investment | 95,865 | 82,584 | 95,865 | 82,584 | 95,282 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 95,865 | 82,584 | 95,865 | 82,584 | 95,282 |
Residential Mortgage [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 480 | 440 | 541 | 367 | 367 |
Charge-offs | |||||
Recoveries | |||||
Provisions | 62 | 57 | 1 | 130 | 174 |
Ending balance December 31, 2020 | 542 | 497 | 542 | 497 | 541 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 542 | 497 | 542 | 497 | 541 |
Loans held-for-investment | 44,594 | 45,424 | 44,594 | 45,424 | 43,928 |
Individually evaluated for impairment | 310 | 333 | 310 | 333 | 440 |
Collectively evaluated for impairment | 44,284 | 45,091 | 44,284 | 45,091 | 43,488 |
Commercial Real Estate [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 8,137 | 5,531 | 7,855 | 4,602 | 4,602 |
Charge-offs | (110) | (110) | (1) | ||
Recoveries | 7 | 3 | 11 | 9 | 23 |
Provisions | (8) | 935 | 270 | 1,858 | 3,231 |
Ending balance December 31, 2020 | 8,026 | 6,469 | 8,026 | 6,469 | 7,855 |
Individually evaluated for impairment | 2 | 4 | 2 | 4 | 2 |
Collectively evaluated for impairment | 8,024 | 6,465 | 8,024 | 6,465 | 7,853 |
Loans held-for-investment | 592,099 | 544,670 | 592,099 | 544,670 | 573,258 |
Individually evaluated for impairment | 5,163 | 3,020 | 5,163 | 3,020 | 5,631 |
Collectively evaluated for impairment | 586,936 | 541,650 | 586,936 | 541,650 | 567,627 |
Home Equity Line of Credit [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 309 | 277 | 324 | 240 | 240 |
Charge-offs | |||||
Recoveries | 5 | 6 | 1 | 2 | |
Provisions | 8 | 16 | (8) | 52 | 82 |
Ending balance December 31, 2020 | 322 | 293 | 322 | 293 | 324 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 322 | 293 | 322 | 293 | 324 |
Loans held-for-investment | 26,662 | 27,156 | 26,662 | 27,156 | 26,442 |
Individually evaluated for impairment | 21 | 66 | 21 | 66 | 42 |
Collectively evaluated for impairment | 26,641 | 27,090 | 26,641 | 27,090 | 26,400 |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 124 | 112 | 125 | 97 | 97 |
Charge-offs | (11) | (25) | (36) | (48) | (107) |
Recoveries | 14 | 11 | 30 | 19 | 52 |
Provisions | (16) | 34 | (8) | 64 | 83 |
Ending balance December 31, 2020 | 111 | 132 | 111 | 132 | 125 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 111 | 132 | 111 | 132 | 125 |
Loans held-for-investment | 7,649 | 10,354 | 7,649 | 10,354 | 8,559 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 7,649 | 10,354 | 7,649 | 10,354 | 8,559 |
Unallocated Financing Receivables [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 621 | 697 | 621 | 783 | 783 |
Charge-offs | |||||
Recoveries | |||||
Provisions | (3) | (86) | (3) | (172) | (162) |
Ending balance December 31, 2020 | 618 | 611 | 618 | 611 | 621 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 618 | 611 | 618 | 611 | 621 |
Loans held-for-investment | |||||
Individually evaluated for impairment | |||||
Collectively evaluated for impairment |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable, Past Due [Line Items] | |||||
Related Allowance | $ 2 | $ 4 | $ 2 | $ 4 | $ 2 |
Recorded Investment | 5,494 | 3,419 | 5,494 | 3,419 | 6,113 |
Unpaid Principal Balance | 8,176 | 6,255 | 8,176 | 6,255 | 8,649 |
Average Recorded Investment | 5,599 | 3,731 | 5,779 | 3,810 | 6,375 |
Interest Income Recognized | 99 | 85 | 199 | 165 | 403 |
Commercial, Financial And Agricultural Loan [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Recorded Investment, with no allowance | |||||
Unpaid Principal Balance, with no Allowance | |||||
Average Recorded Investment, with no Allowance | |||||
Interest Income Recognized, with no allownace | |||||
Recorded Investment, with allowance | |||||
Unpaid Principal Balance, with allowance | |||||
Related Allowance | |||||
Average Recorded Investment, with Allowance | |||||
Interest Income Recognized, with allownace | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
Construction Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Recorded Investment, with no allowance | |||||
Unpaid Principal Balance, with no Allowance | |||||
Average Recorded Investment, with no Allowance | |||||
Interest Income Recognized, with no allownace | |||||
Recorded Investment, with allowance | |||||
Unpaid Principal Balance, with allowance | |||||
Related Allowance | |||||
Average Recorded Investment, with Allowance | |||||
Interest Income Recognized, with allownace | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
Residential Mortgage [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Recorded Investment, with no allowance | 310 | 333 | 310 | 333 | 440 |
Unpaid Principal Balance, with no Allowance | 361 | 425 | 361 | 425 | 499 |
Average Recorded Investment, with no Allowance | 310 | 331 | 315 | 337 | 440 |
Interest Income Recognized, with no allownace | 4 | 7 | 7 | 10 | 1 |
Recorded Investment, with allowance | |||||
Unpaid Principal Balance, with allowance | |||||
Related Allowance | |||||
Average Recorded Investment, with Allowance | |||||
Interest Income Recognized, with allownace | |||||
Recorded Investment | 310 | 333 | 310 | 333 | 440 |
Unpaid Principal Balance | 361 | 425 | 361 | 425 | 499 |
Average Recorded Investment | 310 | 331 | 315 | 337 | 440 |
Interest Income Recognized | 4 | 7 | 7 | 10 | 1 |
Commercial Real Estate [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Recorded Investment, with no allowance | 2,827 | 2,827 | 5,508 | ||
Unpaid Principal Balance, with no Allowance | 7,689 | 5,567 | 7,689 | 5,567 | 7,980 |
Average Recorded Investment, with no Allowance | 5,168 | 3,141 | 5,332 | 3,189 | 5,770 |
Interest Income Recognized, with no allownace | 94 | 74 | 188 | 147 | 388 |
Recorded Investment, with allowance | 101 | 193 | 101 | 193 | 123 |
Unpaid Principal Balance, with allowance | 101 | 193 | 101 | 193 | 123 |
Related Allowance | 2 | 4 | 2 | 4 | 2 |
Average Recorded Investment, with Allowance | 101 | 193 | 111 | 216 | 123 |
Interest Income Recognized, with allownace | 1 | 3 | 3 | 6 | 11 |
Recorded Investment | 5,163 | 3,020 | 5,163 | 3,020 | 5,631 |
Unpaid Principal Balance | 7,790 | 5,760 | 7,790 | 5,760 | 8,103 |
Average Recorded Investment | 5,269 | 3,334 | 5,443 | 3,405 | 5,893 |
Interest Income Recognized | 95 | 77 | 191 | 153 | 399 |
Home Equity Line of Credit [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Recorded Investment, with no allowance | 21 | 66 | 21 | 66 | 42 |
Unpaid Principal Balance, with no Allowance | 25 | 70 | 25 | 70 | 47 |
Average Recorded Investment, with no Allowance | 20 | 66 | 21 | 68 | 42 |
Interest Income Recognized, with no allownace | 1 | 1 | 2 | 3 | |
Recorded Investment, with allowance | |||||
Unpaid Principal Balance, with allowance | |||||
Related Allowance | |||||
Average Recorded Investment, with Allowance | |||||
Interest Income Recognized, with allownace | |||||
Recorded Investment | 21 | 66 | 21 | 66 | 42 |
Unpaid Principal Balance | 25 | 70 | 25 | 70 | 47 |
Average Recorded Investment | 20 | 66 | 21 | 68 | 42 |
Interest Income Recognized | 1 | 1 | 2 | 3 | |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Recorded Investment, with no allowance | |||||
Unpaid Principal Balance, with no Allowance | |||||
Average Recorded Investment, with no Allowance | |||||
Interest Income Recognized, with no allownace | |||||
Recorded Investment, with allowance | |||||
Unpaid Principal Balance, with allowance | |||||
Related Allowance | |||||
Average Recorded Investment, with Allowance | |||||
Interest Income Recognized, with allownace | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Average Recorded Investment | |||||
Interest Income Recognized |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | $ 878,318 | $ 844,157 | $ 817,372 |
Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 863,526 | 828,590 | |
Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 3,085 | 7,757 | |
Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 11,707 | 7,810 | |
Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial, Financial And Agricultural Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 111,449 | 96,688 | 107,184 |
Commercial, Financial And Agricultural Loan [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 111,273 | 96,507 | |
Commercial, Financial And Agricultural Loan [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 176 | 181 | |
Commercial, Financial And Agricultural Loan [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial, Financial And Agricultural Loan [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Construction Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 95,865 | 95,282 | 82,584 |
Construction Loans [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 95,858 | 95,282 | |
Construction Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 7 | ||
Construction Loans [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Construction Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Residential Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,594 | 43,928 | 45,424 |
Residential Mortgage [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,111 | 43,240 | |
Residential Mortgage [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 154 | 190 | |
Residential Mortgage [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 329 | 498 | |
Residential Mortgage [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 592,099 | 573,258 | 544,670 |
Commercial Real Estate [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 579,401 | 559,982 | |
Commercial Real Estate [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 2,529 | 7,270 | |
Commercial Real Estate [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 10,169 | 6,006 | |
Commercial Real Estate [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Home Equity Line of Credit [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 26,662 | 26,442 | 27,156 |
Home Equity Line of Credit [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 25,244 | 25,041 | |
Home Equity Line of Credit [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 219 | 95 | |
Home Equity Line of Credit [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1,199 | 1,306 | |
Home Equity Line of Credit [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 7,649 | 8,559 | $ 10,354 |
Consumer Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 7,639 | 8,538 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 21 | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 10 | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | $ 878,318 | $ 844,157 | $ 817,372 |
Financing Receivable, Nonaccrual | 3,986 | 4,562 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 171 | 617 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 48 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 4,165 | 1,260 | |
Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 8,322 | 6,487 | |
Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 869,996 | 837,670 | |
Commercial, Financial And Agricultural Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 111,449 | 96,688 | 107,184 |
Financing Receivable, Nonaccrual | 3,654 | 4,080 | |
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 111 | 165 | |
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 27 | ||
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 4,164 | ||
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 7,929 | 4,272 | |
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 103,520 | 92,416 | |
Construction Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 95,865 | 95,282 | 82,584 |
Financing Receivable, Nonaccrual | |||
Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 424 | ||
Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1,260 | ||
Construction Loans [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1,684 | ||
Construction Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 95,865 | 93,598 | |
Residential Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,594 | 43,928 | 45,424 |
Financing Receivable, Nonaccrual | 311 | 440 | |
Residential Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 36 | 7 | |
Residential Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Residential Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Residential Mortgage [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 347 | 447 | |
Residential Mortgage [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,247 | 43,481 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 592,099 | 573,258 | 544,670 |
Financing Receivable, Nonaccrual | |||
Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 592,099 | 573,258 | |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 26,662 | 26,442 | 27,156 |
Financing Receivable, Nonaccrual | 21 | 42 | |
Home Equity Line of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Home Equity Line of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Home Equity Line of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Home Equity Line of Credit [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 21 | 42 | |
Home Equity Line of Credit [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 26,641 | 26,400 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 7,649 | 8,559 | $ 10,354 |
Financing Receivable, Nonaccrual | |||
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 24 | 21 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 21 | ||
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1 | ||
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 25 | 42 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | $ 7,624 | $ 8,517 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Receivables [Abstract] | ||||
Accretable yield, beginning of period | $ 86 | $ 116 | $ 93 | $ 123 |
Accretion | (7) | (7) | (14) | (14) |
Accretable yield, end of period | $ 79 | $ 109 | $ 79 | $ 109 |
Schedule of related party loan
Schedule of related party loan (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Receivables [Abstract] | ||
Beginning Balance December 31, | $ 3,297 | $ 4,109 |
New Loans | 2 | 55 |
Less loan repayments | 225 | 437 |
Ending Balance June 30, | $ 3,074 | $ 3,727 |
Loans (Details Narrative)
Loans (Details Narrative) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 878,318,000 | $ 844,157,000 | $ 817,372,000 | |
Troubled debt restructurings | 1,500,000 | $ 1,600,000 | ||
Loans greater than ninety days delinquent and still accruing interest | 4,200,000 | 1,300,000 | ||
Recorded investment in purchased impaired loans | 109,000 | 110,000 | ||
Unpaid Principal Balance in Purchased Impaired Loans | 162,000 | 171,000 | ||
Commercial, Financial And Agricultural Loan [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Loans and Leases Receivable, Gross | 111,449,000 | 96,688,000 | $ 107,184,000 | |
Commercial, Financial And Agricultural Loan [Member] | Entity Loan Modification Program [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 47,200,000 | $ 42,200,000 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Financial Assets: | ||
Investment securities available-for-sale | $ 468,951 | $ 359,866 |
Other investments, at cost | 1,718 | 2,053 |
Financial liabilities: | ||
Non-interest bearing demand | 417,895 | 385,511 |
Interest bearing demand deposits and money market accounts | 577,362 | 520,205 |
Savings | 136,338 | 123,032 |
Time deposits | 158,288 | 160,665 |
Total deposits | 1,289,883 | 1,189,413 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and short term investments | 75,987 | 64,992 |
Investment securities available-for-sale | 25,576 | 20,564 |
Other investments, at cost | ||
Loans held for sale | ||
Net loans receivable | ||
Accrued interest receivable | 4,012 | 4,167 |
Financial liabilities: | ||
Non-interest bearing demand | ||
Interest bearing demand deposits and money market accounts | ||
Savings | ||
Time deposits | ||
Total deposits | ||
Securities sold under agreements to repurchase | ||
Junior subordinated debt | ||
Accrued interest payable | 505 | 667 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and short term investments | ||
Investment securities available-for-sale | 443,375 | 339,302 |
Other investments, at cost | ||
Loans held for sale | 11,416 | 45,020 |
Net loans receivable | ||
Accrued interest receivable | ||
Financial liabilities: | ||
Non-interest bearing demand | 417,895 | 385,511 |
Interest bearing demand deposits and money market accounts | 577,362 | 520,205 |
Savings | 136,338 | 123,032 |
Time deposits | 158,763 | 61,505 |
Total deposits | 1,290,358 | 1,190,253 |
Securities sold under agreements to repurchase | 60,487 | 40,914 |
Junior subordinated debt | 14,493 | 11,748 |
Accrued interest payable | ||
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and short term investments | ||
Investment securities available-for-sale | ||
Other investments, at cost | 1,718 | 2,053 |
Loans held for sale | ||
Net loans receivable | 871,342 | 829,685 |
Accrued interest receivable | ||
Financial liabilities: | ||
Non-interest bearing demand | ||
Interest bearing demand deposits and money market accounts | ||
Savings | ||
Time deposits | ||
Total deposits | ||
Securities sold under agreements to repurchase | ||
Junior subordinated debt | ||
Accrued interest payable | ||
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and short term investments | 75,987 | 64,992 |
Investment securities available-for-sale | 468,951 | 359,866 |
Other investments, at cost | 1,718 | 2,053 |
Loans held for sale | 11,416 | 45,020 |
Net loans receivable | 867,680 | 833,768 |
Accrued interest receivable | 4,012 | 4,167 |
Financial liabilities: | ||
Non-interest bearing demand | 417,895 | 385,511 |
Interest bearing demand deposits and money market accounts | 577,362 | 520,205 |
Savings | 136,338 | 123,032 |
Time deposits | 158,288 | 160,665 |
Total deposits | 1,289,883 | 1,189,413 |
Securities sold under agreements to repurchase | 60,487 | 40,914 |
Junior subordinated debt | 14,964 | 14,964 |
Accrued interest payable | 505 | 667 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and short term investments | 75,987 | 64,992 |
Investment securities available-for-sale | 468,951 | 359,866 |
Other investments, at cost | 1,718 | 2,053 |
Loans held for sale | 11,416 | 45,020 |
Net loans receivable | 871,342 | 829,685 |
Accrued interest receivable | 4,012 | 4,167 |
Financial liabilities: | ||
Non-interest bearing demand | 417,895 | 385,511 |
Interest bearing demand deposits and money market accounts | 577,362 | 520,205 |
Savings | 136,338 | 123,032 |
Time deposits | 158,763 | 161,505 |
Total deposits | 1,290,358 | 1,190,253 |
Securities sold under agreements to repurchase | 60,487 | 40,914 |
Junior subordinated debt | 14,493 | 11,748 |
Accrued interest payable | $ 505 | $ 667 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments (Details 2) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | $ 468,951 | $ 359,866 |
Loans held for sale | 11,416 | 45,020 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 25,576 | 20,564 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 443,375 | 339,302 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 25,576 | 20,564 |
Loans held for sale | ||
Total | 25,576 | 20,564 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 443,375 | 339,302 |
Loans held for sale | 11,416 | 45,020 |
Total | 454,791 | 384,322 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Loans held for sale | ||
Total | ||
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 468,951 | 359,866 |
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 468,951 | 359,866 |
Loans held for sale | 11,416 | 45,020 |
Total | 480,367 | 404,886 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 15,448 | 1,502 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 15,448 | 1,502 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 15,448 | 1,502 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 1,006 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 1,006 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Government-sponsored Enterprises Debt Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 1,006 | |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 22,326 | 17,029 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 298,915 | 212,900 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Collateralized Mortgage Backed Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 321,241 | 229,929 |
Small Business Administration pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 36,225 | 35,498 |
Small Business Administration pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Small Business Administration pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 36,225 | 35,498 |
Small Business Administration pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Small Business Administration pools [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 36,225 | 35,498 |
US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 89,338 | 88,603 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 3,535 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 89,338 | 85,068 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US States and Political Subdivisions Debt Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 89,338 | 88,603 |
Corporate and other securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 6,699 | 3,328 |
Corporate and other securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 3,250 | |
Corporate and other securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 3,449 | 3,328 |
Corporate and other securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Corporate and other securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | $ 6,699 | $ 3,328 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments (Details 3) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | $ 5,494 | $ 6,113 | $ 3,419 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 1,182 | 1,194 | |
Commercial, Financial And Agricultural Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Residential Mortgage [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 310 | 440 | 333 |
Commercial Real Estate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 5,163 | 5,631 | 3,020 |
Home Equity Line of Credit [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 21 | 42 | 66 |
Consumer Portfolio Segment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Construction Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | |||
Assets, Fair Value Disclosure | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | |||
Assets, Fair Value Disclosure | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 5,494 | 6,111 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 1,182 | 1,194 | |
Assets, Fair Value Disclosure | 6,676 | 7,305 | |
Fair Value, Nonrecurring [Member] | Commercial, Financial And Agricultural Loan [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Commercial, Financial And Agricultural Loan [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Commercial, Financial And Agricultural Loan [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 310 | 440 | |
Fair Value, Nonrecurring [Member] | Commercial Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | |||
Fair Value, Nonrecurring [Member] | Commercial Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | |||
Fair Value, Nonrecurring [Member] | Commercial Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 5,163 | 5,629 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 541 | 594 | |
Fair Value, Nonrecurring [Member] | Home Equity Line of Credit [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Home Equity Line of Credit [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Home Equity Line of Credit [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 21 | 42 | |
Fair Value, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Fair Value, Nonrecurring [Member] | Construction Loans [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | |||
Fair Value, Nonrecurring [Member] | Construction Loans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | |||
Fair Value, Nonrecurring [Member] | Construction Loans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 641 | 600 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 5,494 | 6,111 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 1,182 | 1,194 | |
Assets, Fair Value Disclosure | 6,676 | 7,305 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Commercial, Financial And Agricultural Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Residential Mortgage [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 310 | 440 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 5,163 | 5,629 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 541 | 594 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Home Equity Line of Credit [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 21 | 42 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Consumer Portfolio Segment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | |||
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Construction Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 641 | $ 600 |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments (Details 4) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 1,182 | $ 1,194 | |
Impaired Financing Receivable, Recorded Investment | 5,494 | 6,113 | $ 3,419 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Comparison Sales Other Estimates Valuation Technique [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 1,182 | $ 1,194 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Comparison Sales Other Estimates Valuation Technique [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 6.00% | 6.00% | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Comparison Sales Other Estimates Valuation Technique [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 16.00% | 16.00% | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Discounted Cash Flows Valuation Technique [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | $ 5,494 | $ 6,111 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Discounted Cash Flows Valuation Technique [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 6.00% | 6.00% | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Discounted Cash Flows Valuation Technique [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 16.00% | 16.00% |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Non-interest bearing demand deposits | $ 417,895 | $ 385,511 |
Interest bearing demand deposits and money market accounts | 577,362 | 520,205 |
Savings | 136,338 | 123,032 |
Time deposits | 158,288 | 160,665 |
Total deposits | $ 1,289,883 | $ 1,189,413 |
Deposits (Details Narrative)
Deposits (Details Narrative) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Time Deposits 250000 or More | $ 27,900 | $ 28,600 |
Reportable Segments (Details)
Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||||||
Dividend and Interest Income | $ 11,664 | $ 10,666 | $ 22,882 | $ 21,376 | |||
Interest expense | 572 | 923 | 1,223 | 2,216 | |||
Net interest income | 11,092 | 9,743 | 21,659 | 19,160 | |||
Provision for loan losses | 168 | 1,250 | 345 | 2,325 | $ 3,663 | ||
Noninterest income | 3,418 | 3,387 | 6,714 | 6,315 | |||
Noninterest expense | 9,878 | 9,131 | 19,418 | 18,169 | |||
Net income before taxes | 4,464 | 2,749 | 8,610 | 4,981 | |||
Income tax provision (benefit) | 921 | 532 | 1,812 | 970 | |||
Net income | 3,543 | $ 3,255 | 2,217 | $ 1,794 | 6,798 | 4,011 | |
Assets | 1,514,973 | 1,514,973 | 1,395,382 | ||||
Commercial and Retail Banking [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Dividend and Interest Income | 11,399 | 10,230 | 22,260 | 20,634 | |||
Interest expense | 468 | 778 | 1,014 | 1,903 | |||
Net interest income | 10,931 | 9,452 | 21,246 | 18,731 | |||
Provision for loan losses | 168 | 1,250 | 345 | 2,325 | |||
Noninterest income | 1,318 | 1,144 | 2,747 | 2,456 | |||
Noninterest expense | 7,788 | 7,218 | 15,412 | 14,713 | |||
Net income before taxes | 4,293 | 2,128 | 8,236 | 4,149 | |||
Income tax provision (benefit) | 997 | 592 | 1,931 | 1,089 | |||
Net income | 3,296 | 1,536 | 6,305 | 3,060 | |||
Assets | 1,491,909 | 1,491,909 | 1,335,320 | ||||
Mortgage Banking [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Dividend and Interest Income | 263 | 432 | 616 | 732 | |||
Interest expense | |||||||
Net interest income | 263 | 432 | 616 | 732 | |||
Provision for loan losses | |||||||
Noninterest income | 1,143 | 1,572 | 2,133 | 2,554 | |||
Noninterest expense | 1,232 | 1,312 | 2,407 | 2,276 | |||
Net income before taxes | 174 | 692 | 342 | 1,010 | |||
Income tax provision (benefit) | |||||||
Net income | 174 | 692 | 342 | 1,010 | |||
Assets | 22,342 | 22,342 | 59,372 | ||||
Investment Advisory And Non-Deposit [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Dividend and Interest Income | |||||||
Interest expense | |||||||
Net interest income | |||||||
Provision for loan losses | |||||||
Noninterest income | 957 | 671 | 1,834 | 1,305 | |||
Noninterest expense | 596 | 457 | 1,180 | 924 | |||
Net income before taxes | 361 | 214 | 654 | 381 | |||
Income tax provision (benefit) | |||||||
Net income | 361 | 214 | 654 | 381 | |||
Assets | 1 | 1 | 2 | ||||
Corporate Segment [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Dividend and Interest Income | 1,007 | 1,061 | 2,014 | 2,129 | |||
Interest expense | 104 | 145 | 209 | 313 | |||
Net interest income | 903 | 916 | 1,805 | 1,816 | |||
Provision for loan losses | |||||||
Noninterest income | |||||||
Noninterest expense | 262 | 144 | 419 | 256 | |||
Net income before taxes | 641 | 772 | 1,386 | 1,560 | |||
Income tax provision (benefit) | (76) | (60) | (119) | (119) | |||
Net income | 717 | 832 | 1,505 | 1,679 | |||
Assets | 140,337 | 140,337 | 140,256 | ||||
Consolidation, Eliminations [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Dividend and Interest Income | (1,005) | (1,057) | (2,008) | (2,119) | |||
Interest expense | |||||||
Net interest income | (1,005) | (1,057) | (2,008) | (2,119) | |||
Provision for loan losses | |||||||
Noninterest income | |||||||
Noninterest expense | |||||||
Net income before taxes | (1,005) | (1,057) | (2,008) | (2,119) | |||
Income tax provision (benefit) | |||||||
Net income | (1,005) | $ (1,057) | (2,008) | $ (2,119) | |||
Assets | $ (139,616) | $ (139,616) | $ (139,568) |
Leases (Details)
Leases (Details) $ in Thousands | Jun. 30, 2021USD ($) |
2021 | $ 150 |
2022 | 303 |
2023 | 309 |
2024 | 282 |
2025 | 222 |
Thereafter | 2,978 |
Total | 4,244 |
Lease Expense [Member] | |
2021 | 66 |
2022 | 126 |
2023 | 118 |
2024 | 110 |
2025 | 104 |
Thereafter | 687 |
Total | 1,211 |
Liability Reduction [Member] | |
2021 | 83 |
2022 | 177 |
2023 | 191 |
2024 | 172 |
2025 | 118 |
Thereafter | 2,292 |
Total | $ 3,033 |
Leases (Details Narrative)
Leases (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Leases [Abstract] | ||||
Operating Lease, Payments | $ 74,100 | $ 72,700 | $ 148,000 | $ 145,300 |
Operating Lease, Expense | 80,800 | 80,800 | 161,500 | 161,500 |
Operating Lease Liability Reduced | $ 40,700 | $ 37,700 | $ 81,200 | $ 74,800 |
Operating Lease, Weighted Average Remaining Lease Term | 15 years 5 months 5 days | 16 years 1 month 28 days | 15 years 5 months 5 days | 16 years 1 month 28 days |
Operating Lease, Weighted Average Discount Rate, Percent | 4.42% | 4.41% | 4.42% | 4.41% |