Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 04, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | civb | |
Entity Registrant Name | CIVISTA BANCSHARES, INC. | |
Entity Central Index Key | 944,745 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 8,239,247 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from financial institutions | $ 33,229 | $ 35,561 |
Securities available for sale | 200,967 | 196,249 |
Loans held for sale | 2,827 | 2,698 |
Loans, net of allowance of $13,451 and $14,361 | 1,033,516 | 987,166 |
Other securities | 13,926 | 13,452 |
Premises and equipment, net | 17,340 | 16,944 |
Accrued interest receivable | 4,547 | 3,902 |
Goodwill | 27,095 | 27,095 |
Other intangibles | 1,943 | 2,409 |
Bank owned life insurance | 24,404 | 20,104 |
Other assets | 12,486 | 9,461 |
Total assets | 1,372,280 | 1,315,041 |
Deposits | ||
Noninterest-bearing | 341,653 | 300,615 |
Interest-bearing | 792,500 | 751,418 |
Total deposits | 1,134,153 | 1,052,033 |
Federal Home Loan Bank advances | 35,000 | 71,200 |
Securities sold under agreements to repurchase | 21,713 | 25,040 |
Subordinated debentures | 29,427 | 29,427 |
Accrued expenses and other liabilities | 13,678 | 12,168 |
Total liabilities | 1,233,971 | 1,189,868 |
SHAREHOLDERS' EQUITY | ||
Preferred shares, no par value, 200,000 shares authorized, Series B Preferred stock, $1,000 liquidation preference, 21,374 shares issued at September 30, 2016 and 24,072 shares issued at December 31, 2015, net of issuance costs | 19,776 | 22,273 |
Common shares, no par value, 20,000,000 shares authorized, 8,978,899 shares issued at September 30, 2016 and 8,591,542 shares issued at December 31, 2015 | 118,126 | 115,330 |
Retained earnings | 16,471 | 5,300 |
Treasury shares, 747,964 common shares at cost | (17,235) | (17,235) |
Accumulated other comprehensive income (loss) | 1,171 | (495) |
Total shareholders' equity | 138,309 | 125,173 |
Total liabilities and shareholders' equity | $ 1,372,280 | $ 1,315,041 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $ 13,451 | $ 14,361 |
Preferred shares, no par value | ||
Preferred shares, shares authorized | 200,000 | 200,000 |
Preferred shares, liquidation preference | $ 1,000 | $ 1,000 |
Preferred shares, shares issued | 21,374 | 24,072 |
Common stock, no par value | ||
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 8,978,899 | 8,591,542 |
Treasury stock, common shares | 747,964 | 747,964 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest and dividend income | ||||
Loans, including fees | $ 11,824 | $ 11,755 | $ 35,311 | $ 33,271 |
Taxable securities | 872 | 810 | 2,494 | 2,439 |
Tax-exempt securities | 664 | 653 | 1,979 | 1,917 |
Federal funds sold and other | 10 | 5 | 376 | 98 |
Total interest income | 13,370 | 13,223 | 40,160 | 37,725 |
Interest expense | ||||
Deposits | 506 | 513 | 1,480 | 1,588 |
Federal Home Loan Bank advances | 111 | 111 | 312 | 326 |
Subordinated debentures | 221 | 192 | 650 | 565 |
Other | 6 | 5 | 17 | 15 |
Total interest expense | 844 | 821 | 2,459 | 2,494 |
Net interest income | 12,526 | 12,402 | 37,701 | 35,231 |
Provision (credit) for loan losses | 400 | (1,300) | 1,200 | |
Net interest income after provision (credit) for loan losses | 12,526 | 12,002 | 39,001 | 34,031 |
Noninterest income | ||||
Service charges | 1,194 | 1,262 | 3,714 | 3,487 |
Net gain on sale of securities | 18 | (5) | 20 | (5) |
Net gain on sale of loans | 541 | 269 | 1,341 | 888 |
ATM fees | 541 | 520 | 1,584 | 1,484 |
Wealth management fees | 688 | 659 | 1,989 | 2,159 |
Bank owned life insurance | 149 | 116 | 415 | 350 |
Tax refund processing fees | 2,750 | 2,000 | ||
Other | 522 | 255 | 1,176 | 769 |
Total noninterest income | 3,653 | 3,076 | 12,989 | 11,132 |
Noninterest expense | ||||
Salaries, wages and benefits | 6,375 | 6,025 | 19,053 | 17,732 |
Net occupancy expense | 708 | 595 | 2,009 | 1,833 |
Equipment expense | 494 | 303 | 1,158 | 1,030 |
Contracted data processing | 397 | 399 | 1,147 | 1,392 |
FDIC assessment | 166 | 192 | 597 | 654 |
State franchise tax | 251 | 205 | 709 | 661 |
Professional services | 431 | 597 | 1,450 | 1,716 |
Amortization of intangible assets | 172 | 189 | 527 | 522 |
ATM expense | 183 | 119 | 379 | 563 |
Marketing | 249 | 298 | 810 | 842 |
Other operating expenses | 1,769 | 1,744 | 5,314 | 5,258 |
Total noninterest expense | 11,195 | 10,666 | 33,153 | 32,203 |
Income before taxes | 4,984 | 4,412 | 18,837 | 12,960 |
Income tax expense | 1,304 | 1,159 | 5,251 | 3,414 |
Net Income | 3,680 | 3,253 | 13,586 | 9,546 |
Preferred stock dividends | 374 | 391 | 1,156 | 1,186 |
Net income available to common shareholders | $ 3,306 | $ 2,862 | $ 12,430 | $ 8,360 |
Earnings per common share, basic | $ 0.41 | $ 0.36 | $ 1.57 | $ 1.07 |
Earnings per common share, diluted | $ 0.34 | $ 0.30 | $ 1.24 | $ 0.87 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 3,680 | $ 3,253 | $ 13,586 | $ 9,546 |
Other comprehensive income (loss): | ||||
Unrealized holding gains (loss) on available for sale securities | (1,225) | 1,183 | 2,273 | 87 |
Tax effect | 417 | (403) | (772) | (30) |
Pension liability adjustment | 83 | 70 | 249 | 210 |
Tax effect | (28) | (24) | (84) | (72) |
Total other comprehensive income (loss) | (753) | 826 | 1,666 | 195 |
Comprehensive income | $ 2,927 | $ 4,079 | $ 15,252 | $ 9,741 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Preferred Shares [Member] | Common Shares [Member] | Retained Earnings [Member] | Treasury Shares [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Accumulated other comprehensive income(loss), beginning balance at Dec. 31, 2014 | $ (47) | |||||
Net income | $ 9,546 | |||||
Other comprehensive income | 195 | 195 | ||||
Accumulated other comprehensive income(loss), ending balance at Sep. 30, 2015 | 148 | |||||
Accumulated other comprehensive income(loss), beginning balance at Jun. 30, 2015 | (678) | |||||
Net income | 3,253 | |||||
Other comprehensive income | 826 | 826 | ||||
Accumulated other comprehensive income(loss), ending balance at Sep. 30, 2015 | 148 | |||||
Accumulated other comprehensive income(loss), beginning balance at Dec. 31, 2015 | 125,173 | $ 22,273 | $ 115,330 | $ 5,300 | $ (17,235) | (495) |
Balance, shares at Dec. 31, 2015 | 24,072 | 7,843,578 | ||||
Net income | 13,586 | 13,586 | ||||
Other comprehensive income | 1,666 | 1,666 | ||||
Conversion of Series B preferred shares into common shares | $ (2,497) | $ 2,497 | ||||
Conversion of Series B preferred shares into common shares, shares | (2,698) | 345,060 | ||||
Stock-based compensation | 299 | $ 299 | ||||
Stock-based compensation, shares | 42,297 | |||||
Common stock dividends ($0.16 per share) | (1,259) | (1,259) | ||||
Preferred stock dividend | (1,156) | (1,156) | ||||
Accumulated other comprehensive income(loss), ending balance at Sep. 30, 2016 | 138,309 | $ 19,776 | $ 118,126 | 16,471 | (17,235) | 1,171 |
Balance, shares at Sep. 30, 2016 | 21,374 | 8,230,935 | ||||
Accumulated other comprehensive income(loss), beginning balance at Jun. 30, 2016 | 1,924 | |||||
Net income | 3,680 | |||||
Other comprehensive income | (753) | (753) | ||||
Accumulated other comprehensive income(loss), ending balance at Sep. 30, 2016 | $ 138,309 | $ 19,776 | $ 118,126 | $ 16,471 | $ (17,235) | $ 1,171 |
Balance, shares at Sep. 30, 2016 | 21,374 | 8,230,935 |
Condensed Consolidated Stateme7
Condensed Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) | 9 Months Ended |
Sep. 30, 2016$ / shares | |
Common stock dividends per share | $ 0.16 |
Retained Earnings [Member] | |
Common stock dividends per share | $ 0.16 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Cash Flows [Abstract] | ||
Net cash from operating activities | $ 11,318 | $ 14,375 |
Cash flows used for investing activities: | ||
Maturities and calls of securities, available-for-sale | 23,264 | 20,538 |
Purchases of securities, available-for-sale | (31,130) | (22,250) |
Sale of securities available for sale | 4,379 | |
Redemption of Federal Reserve stock | 138 | |
Purchase of Federal Reserve stock | (474) | (160) |
Purchase of bank owned life insurance | (3,885) | |
Net loan originations | (43,285) | (9,426) |
Loans purchased | (1,643) | (3,826) |
Proceeds from sale of other real estate owned properties | 238 | 289 |
Net cash from acquisition | 926 | |
Premises and equipment purchases | (1,292) | (933) |
Net cash used for investing activities | (53,828) | (14,704) |
Cash flows from financing activities: | ||
Repayment of long-term FHLB advances | (5,000) | |
Net change in short-term FHLB advances | (36,200) | 12,000 |
Increase in deposits | 82,120 | 172 |
Decrease in securities sold under repurchase agreements | (3,327) | (726) |
Common dividends paid | (1,259) | (1,170) |
Preferred dividends paid | (1,156) | (1,186) |
Net cash provided by financing activities | 40,178 | 4,090 |
Increase (decrease) in cash and due from financial institutions | (2,332) | 3,761 |
Cash and due from financial institutions at beginning of period | 35,561 | 29,858 |
Cash and due from financial institutions at end of period | 33,229 | 33,619 |
Cash paid during the period for: | ||
Interest | 2,442 | 2,468 |
Income taxes | 4,700 | 2,250 |
Supplemental cash flow information: | ||
Transfer of loans from portfolio to other real estate owned | 73 | 174 |
Conversion of preferred shares to common shares | $ 2,497 | 859 |
Noncash assets acquired: | ||
Loans receivable | 76,444 | |
Other securities | 716 | |
Accrued interest receivable | 194 | |
Premises and equipment, net | 1,738 | |
Core deposit intangible | 1,009 | |
Other assets | 472 | |
Total non cash assets acquired | 80,573 | |
Liabilities assumed: | ||
Deposits | 86,869 | |
Other liabilities | 5 | |
Total liabilities assumed | 86,874 | |
Net noncash liabilities acquired | $ 6,301 |
Consolidated Financial Statemen
Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Financial Statements | (1) Consolidated Financial Statements Nature of Operations and Principles of Consolidation The Consolidated Financial Statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the Company’s financial position as of September 30, 2016 and its results of operations and changes in cash flows for the periods ended September 30, 2016 and 2015 have been made. The accompanying Consolidated Financial Statements have been prepared in accordance with instructions of Form 10-Q, and therefore certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been omitted. The results of operations for the period ended September 30, 2016 are not necessarily indicative of the operating results for the full year. Reference is made to the accounting policies of the Company described in the notes to the audited financial statements contained in the Company’s 2015 annual report. The Company has consistently followed these policies in preparing this Form 10-Q. The Company provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Madison, Summit, Huron, Ottawa, Richland, Montgomery and Cuyahoga. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. Civista has two loan concentrations of greater than 10% of total loans: one is to Lessors of Non-Residential Buildings and Dwellings totaling $239,878, or 22.9% of total loans, as of September 30, 2016 and the other is to Lessors of Residential Buildings and Dwellings totaling $136,094, or 13.0% of total loans, as of September 30, 2016. These segments of the portfolio are stable and have been conservatively underwritten, monitored and managed by experienced commercial bankers. However, the customers’ ability to repay their loans is dependent on the real estate market and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions and Federal Funds sold that are in excess of federally insured limits. First Citizens Insurance Agency, Inc. was formed to allow the Company to participate in commission revenue generated through its third party insurance agreement. Insurance commission revenue was less than 1.0% of total revenue through September 30, 2016. Revenue from Water St. was less than 1.0% of total revenue through September 30, 2016. Management considers the Company to operate primarily in one reportable segment, banking. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | (2) Significant Accounting Policies Use of Estimates Income Taxes Business Combinations: Reclassifications: Derivative Instruments and Hedging Activities Derivatives and Hedging Effect of Newly Issued but Not Yet Effective Accounting Standards: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) . In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815) In March 2016, the FASB issued ASU 2016-07, Investments – Equity Method and Joint Ventures (Topic 323) In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) Share-Based Payment In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments |
Securities
Securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | (3) Securities The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: September 30, 2016 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 37,811 $ 256 $ (18 ) $ 38,049 Obligations of states and political subdivisions 89,967 6,299 (39 ) 96,227 Mortgage-backed securities in government sponsored entities 65,049 957 (29 ) 65,977 Total debt securities 192,827 7,512 (86 ) 200,253 Equity securities in financial institutions 481 233 — 714 Total $ 193,308 $ 7,745 $ (86 ) $ 200,967 December 31, 2015 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 40,992 $ 74 $ (129 ) $ 40,937 Obligations of states and political subdivisions 87,255 4,959 (62 ) 92,152 Mortgage-backed securities in government sponsored entities 62,135 681 (243 ) 62,573 Total debt securities 190,382 5,714 (434 ) 195,662 Equity securities in financial institutions 481 106 — 587 Total $ 190,863 $ 5,820 $ (434 ) $ 196,249 The amortized cost and fair value of securities at September 30, 2016, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities and equity securities are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 8,697 $ 8,710 Due after one year through five years 27,208 27,523 Due after five years through ten years 28,533 30,440 Due after ten years 63,340 67,603 Mortgage-backed securities 65,049 65,977 Equity securities 481 714 Total securities available for sale $ 193,308 $ 200,967 Proceeds from sales of securities, gross realized gains and gross realized losses were as follows: Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Sale proceeds $ 2,385 $ — $ 4,379 $ — Gross realized gains 18 — 18 — Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer — (5 ) 2 (5 ) Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $156,087 and $142,888 as of September 30, 2016 and December 31, 2015, respectively. Securities with unrealized losses at September 30, 2016 and December 31, 2015 not recognized in income were as follows: September 30, 2016 12 Months or less More than 12 months Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 2,998 $ (2 ) $ 944 $ (16 ) $ 3,942 $ (18 ) Obligations of states and political subdivisions 3,101 (26 ) 526 (13 ) 3,627 (39 ) Mortgage-backed securities in gov’t sponsored entities 8,511 (16 ) 1,240 (13 ) 9,751 (29 ) Total temporarily impaired $ 14,610 $ (44 ) $ 2,710 $ (42 ) $ 17,320 $ (86 ) December 31, 2015 12 Months or less More than 12 months Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 25,464 $ (112 ) $ 1,132 $ (17 ) $ 26,596 $ (129 ) Obligations of states and political subdivisions 2,932 (20 ) 1,469 (42 ) 4,401 (62 ) Mortgage-backed securities in gov’t sponsored entities 27,263 (172 ) 5,041 (71 ) 32,304 (243 ) Total temporarily impaired $ 55,659 $ (304 ) $ 7,642 $ (130 ) $ 63,301 $ (434 ) At September 30, 2016, there were nineteen securities in the portfolio with unrealized losses mainly due to higher market rates when compared to the time of purchase. Unrealized losses on securities have not been recognized into income because the issuers’ securities are of high credit quality, management has the intent and ability to hold these securities for the foreseeable future, and the decline in fair value is largely due to market yields increasing. The fair value is expected to recover as the securities approach their maturity date or reset date. The Company does not intend to sell until recovery and does not believe selling will be required before recovery. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loans | (4) Loans Loan balances were as follows: September 30, December 31, Commercial & Agriculture $ 129,700 $ 124,402 Commercial Real Estate- Owner Occupied 167,564 167,897 Commercial Real Estate- Non-Owner Occupied 385,863 348,439 Residential Real Estate 247,174 236,338 Real Estate Construction 56,919 58,898 Farm Real Estate 41,862 46,993 Consumer and Other 17,885 18,560 Total Loans 1,046,967 1,001,527 Allowance for Loan Losses (13,451 ) (14,361 ) Net Loans $ 1,033,516 $ 987,166 Included in total loans above are deferred loan fees of $117 at September 30, 2016 and $78 at December 31, 2015. |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
Text Block [Abstract] | |
Allowance for Loan Losses | (5) Allowance for Loan Losses Management has an established methodology to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. For purposes of determining the allowance for loan and lease losses, the Company has segmented certain loans in the portfolio by product type. Loss migration rates for each risk category are calculated and used as the basis for calculating loan loss allowance allocations. Loss migration rates are calculated over a three-year period for all portfolio segments. Management also considers certain economic factors for trends that management uses to account for the qualitative and environmental changes in risk, which affects the level of the reserve. The following qualitative factors are analyzed: • Changes in lending policies and procedures • Changes in experience and depth of lending and management staff • Changes in quality of credit review system • Changes in nature and volume of the loan portfolio • Changes in past due, classified and nonaccrual loans and TDRs • Changes in economic and business conditions • Changes in competition or legal and regulatory requirements • Changes in concentrations within the loan portfolio • Changes in the underlying collateral for collateral dependent loans The total allowance reflects management’s estimate of loan losses inherent in the loan portfolio at the balance sheet date. The Company considers the allowance for loan losses of $13,451 adequate to cover loan losses inherent in the loan portfolio, at September 30, 2016. The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three and nine months ended September 30, 2016 and 2015. Allowance for loan losses: For the nine months ended September 30, 2016 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,478 $ (870 ) $ 79 $ 1,023 $ 1,710 Commercial Real Estate: Owner Occupied 2,467 (166 ) 53 (44 ) 2,310 Non-Owner Occupied 4,657 (23 ) 1,365 (1,456 ) 4,543 Residential Real Estate 4,086 (280 ) 384 (735 ) 3,455 Real Estate Construction 371 (115 ) 8 160 424 Farm Real Estate 538 — — (108 ) 430 Consumer and Other 382 (85 ) 40 — 337 Unallocated 382 — — (140 ) 242 Total $ 14,361 $ (1,539 ) $ 1,929 $ (1,300 ) $ 13,451 For the nine months ended September 30, 2016, the increase in allowance for Commercial & Agriculture loans was due to an increase in general reserves as a result of higher balances and higher loss rates in criticized loans. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Owner Occupied loans was reduced not only by a decrease in specific reserves required for this type, but also by decreases in past due, classified and non-accrual loans for this type. The result of these changes was represented as a decrease in the provision. The decrease in allowance for Commercial Real Estate – Non-Owner Occupied loans was the result of a decrease in general reserves required as a result of lower loss rates and improvement in past due, classified and non-accrual loans for this type. In addition, a payoff on a previously charged down loan was received resulting in a recovery of approximately $1,303. The net result was represented as a decrease in the provision. The allowance for Residential Real Estate loans was reduced by a decrease in general reserves required for this type as a result of a decrease in loss rates, represented by a decrease in the provision. The allowance for Real Estate Construction loans increased due to an increase in loss rates for this type of loan, which was represented as an increase in the provision. The allowance for Farm Real Estate loans was reduced by a decrease in general reserves required for this type as a result of lower outstanding loan balances and a decrease in loss rates. The result of these changes was represented as a decrease in the provision. Management feels that the unallocated amount is appropriate and within the relevant range for the allowance that is reflective of the risk in the portfolio. Allowance for loan losses: For the nine months ended September 30, 2015 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,819 $ (187 ) $ 158 $ (412 ) $ 1,378 Commercial Real Estate: Owner Occupied 2,221 (362 ) 162 661 2,682 Non-Owner Occupied 4,334 (81 ) 105 581 4,939 Residential Real Estate 3,747 (779 ) 289 965 4,222 Real Estate Construction 428 — 4 (4 ) 428 Farm Real Estate 822 — 60 (224 ) 658 Consumer and Other 200 (115 ) 38 251 374 Unallocated 697 — — (618 ) 79 Total $ 14,268 $ (1,524 ) $ 816 $ 1,200 $ 14,760 For the nine months ended September 30, 2015, the allowance for Commercial & Agriculture loans was reduced due to decreases in specific reserves for impaired loans of $625. The decrease in specific reserves for impaired loans was the result of the resolution of an impaired loan. The Company did not incur losses with this resolution. In addition, criticized Commercial & Agriculture loan balances have decreased. The result was represented as a decrease in the provision. The increase in the allowance for Commercial Real Estate - Owner Occupied loans was the result of an increase in loss migration rates, which is attributable to the change in the look-back period to a three-year period. The increase in the allowance for Commercial Real Estate – Non–Owner Occupied loans was the result of an increase in loss migration rates, which is attributable to the change in the look-back period to a three-year period. The ending reserve balance for Residential Real Estate loans increased from the end of the previous year due to an increase in loss migration rates, which is attributable to the change in the look-back period to a three-year period. The increase in the allowance for Consumer and Other loans increased due to an increase in loss migration rates. Unallocated reserves declined due to a change in the Company’s look-back period. The Company changed from a two-year look-back period to a three-year look-back period when calculating all but one segment’s loss migration rates during the third quarter of 2015. The change in methodology resulted in a decline in the unallocated balance with a corresponding increase in allocated balances within the reserve calculation. While loan balances are up, loss rates continue to trend downward, exclusive of the change in methodology, resulting in a lower allowance balance. While criticized loans in total have increased slightly, we have seen significant improvement in nonperforming loan balances resulting in a decline in specific reserves for impaired loans. Management feels that the unallocated amount is appropriate and within the relevant range for the allowance that is reflective of the risk in the portfolio. Allowance for loan losses: For the three months ended September 30, 2016 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,557 $ (828 ) $ 44 $ 937 $ 1,710 Commercial Real Estate: Owner Occupied 2,393 (124 ) 1 40 2,310 Non-Owner Occupied 4,969 (23 ) 6 (409 ) 4,543 Residential Real Estate 3,899 (55 ) 23 (412 ) 3,455 Real Estate Construction 366 (115 ) 6 167 424 Farm Real Estate 476 — — (46 ) 430 Consumer and Other 358 (38 ) 7 10 337 Unallocated 529 — — (287 ) 242 Total $ 14,547 $ (1,183 ) $ 87 $ — $ 13,451 For the three months ended September 30, 2016, the increase in allowance for Commercial & Agriculture loans was due to an increase in general reserves as a result of higher loss rates and an increase in loan balances. The result was represented as an increase in the provision. The decrease in allowance for Commercial Real Estate – Non-Owner Occupied loans was the result of a decrease in general reserves required as a result of lower loss rates and improvement in past due, classified and non-accrual loans for this type. The net result was represented as a decrease in the provision. The allowance for Residential Real Estate loans was reduced by a decrease in general reserves required for this type as a result of a decrease in loss rates, represented by a decrease in the provision. The allowance for Real Estate Construction loans increased due to an increase in loss rates for this type of loan, which was represented as an increase in the provision. The allowance for Farm Real Estate loans was reduced by a decrease in general reserves required for this type as a result of lower outstanding loan balances, represented as a decrease in the provision. Management feels that the unallocated amount is appropriate and within the relevant range for the allowance that is reflective of the risk in the portfolio. Allowance for loan losses: For the three months ended September 30, 2015 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,395 $ (187 ) $ 127 $ 43 $ 1,378 Commercial Real Estate: Owner Occupied 5,073 (164 ) 3 (2,230 ) 2,682 Non-Owner Occupied 3,153 (17 ) 15 1,788 4,939 Residential Real Estate 3,470 (238 ) 124 866 4,222 Real Estate Construction 434 — 1 (7 ) 428 Farm Real Estate 584 — 9 65 658 Consumer and Other 190 (28 ) 8 204 374 Unallocated 408 — — (329 ) 79 Total $ 14,707 $ (634 ) $ 287 $ 400 $ 14,760 For the three months ended September 30, 2015, the decrease in the allowance for Commercial Real Estate – Owner Occupied was the result of a significant change in the Special Mention loss migration rate that had been adversely effected by a specific loss on one relationship that occurred in 2014. The effect of this loss as of this quarter end migrated to the Substandard pool and has less of an impact to the reserve. The ending reserve balance for Residential Real Estate loans increased due an increase in criticized loan balances and an increase in loss migration rates. The increase in the allowance for Consumer and other loans increased due to an increase in loss rates. Unallocated reserves declined due to a change in the Company’s lookback period. The Company changed from a two-year lookback period to a three-year lookback period when calculating all but one segment’s loss migration rates during the third quarter of 2015. The change in methodology is reflected in a decline in the unallocated balance with corresponding increase in allocated balances within the reserve calculation. While loan balances are up, loss rates continue to trend downward, exclusive of the change in methodology, resulting in a lower allowance balance. While criticized loans have increased slightly, we have seen significant improvement in nonperforming loan balances resulting in a decline in specific reserves for impaired loans. Management feels that the unallocated amount is appropriate and within the relevant range for the allowance that is reflective of the risk in the portfolio. The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of September 30, 2016 and December 31, 2015. September 30, 2016 Loans acquired Loans Loans Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 1,710 $ 1,710 Commercial Real Estate: Owner Occupied — 4 2,306 2,310 Non-Owner Occupied — — 4,543 4,543 Residential Real Estate 97 113 3,245 3,455 Real Estate Construction — — 424 424 Farm Real Estate — — 430 430 Consumer and Other — — 337 337 Unallocated — — 242 242 Total $ 97 $ 117 $ 13,237 $ 13,451 Outstanding loan balances: Commercial & Agriculture $ 89 $ 2,386 $ 127,225 $ 129,700 Commercial Real Estate: Owner Occupied — 1,939 165,625 167,564 Non-Owner Occupied — 369 385,494 385,863 Residential Real Estate 177 1,854 245,143 247,174 Real Estate Construction — — 56,919 56,919 Farm Real Estate — 665 41,197 41,862 Consumer and Other — 1 17,884 17,885 Total $ 266 $ 7,214 $ 1,039,487 $ 1,046,967 December 31, 2015 Loans Loans Loans Total Allowance for loan losses: Commercial & Agriculture $ — $ 23 $ 1,455 $ 1,478 Commercial Real Estate: Owner Occupied — 103 2,364 2,467 Non-Owner Occupied — — 4,657 4,657 Residential Real Estate 123 137 3,826 4,086 Real Estate Construction — — 371 371 Farm Real Estate — — 538 538 Consumer and Other — — 382 382 Unallocated — — 382 382 Total $ 123 $ 263 $ 13,975 $ 14,361 Outstanding loan balances: Commercial & Agriculture $ 132 $ 873 $ 123,397 $ 124,402 Commercial Real Estate: Owner Occupied — 2,141 165,756 167,897 Non-Owner Occupied — 1,742 346,697 348,439 Residential Real Estate 131 1,642 234,565 236,338 Real Estate Construction — — 58,898 58,898 Farm Real Estate — 953 46,040 46,993 Consumer and Other — 3 18,557 18,560 Total $ 263 $ 7,354 $ 993,910 $ 1,001,527 The following tables present credit exposures by internally assigned grades for the periods ended September 30, 2016 and December 31, 2015. The risk rating analysis estimates the capability of the borrower to repay the contractual obligations of the loan agreements as scheduled or at all. The Company’s internal credit risk grading system is based on experiences with similarly graded loans. The Company’s internally assigned grades are as follows: • Pass • Special Mention • Substandard • Doubtful • Loss Generally, Residential Real Estate, Real Estate Construction and Consumer and Other loans are not risk-graded, except when collateral is used for a business purpose. September 30, 2016 Pass Special Substandard Doubtful Ending Commercial & Agriculture $ 121,273 $ 4,569 $ 3,858 $ — $ 129,700 Commercial Real Estate: Owner Occupied 159,392 1,849 6,323 — 167,564 Non-Owner Occupied 380,064 4,054 1,745 — 385,863 Residential Real Estate 58,290 1,698 7,539 — 67,527 Real Estate Construction 50,391 17 27 — 50,435 Farm Real Estate 32,430 7,088 2,344 — 41,862 Consumer and Other 1,586 — 95 — 1,681 Total $ 803,426 $ 19,275 $ 21,931 $ — $ 844,632 December 31, 2015 Pass Special Substandard Doubtful Ending Commercial & Agriculture $ 117,739 $ 3,090 $ 3,573 $ — $ 124,402 Commercial Real Estate: Owner Occupied 156,622 5,571 5,704 — 167,897 Non-Owner Occupied 339,734 6,100 2,605 — 348,439 Residential Real Estate 62,147 1,671 7,435 — 71,253 Real Estate Construction 52,399 216 29 — 52,644 Farm Real Estate 39,787 4,024 3,182 — 46,993 Consumer and Other 1,987 3 111 — 2,101 Total $ 770,415 $ 20,675 $ 22,639 $ — $ 813,729 The following tables present performing and nonperforming loans based solely on payment activity for the periods ended September 30, 2016 and December 31, 2015 that have not been assigned an internal risk grade. The types of loans presented here are not assigned a risk grade unless there is evidence of a problem. Payment activity is reviewed by management on a monthly basis to evaluate performance. Loans are considered to be nonperforming when they become 90 days past due or if management thinks that we may not collect all of our principal and interest. Nonperforming loans also include certain loans that have been modified in Troubled Debt Restructurings (TDRs) where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company’s loss mitigation activities related to a borrower that is experiencing financial difficulties, and such concessions may include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. Residential Real Estate Consumer Total September 30, 2016 Performing $ 179,647 $ 6,484 $ 16,171 $ 202,302 Nonperforming — — 33 33 Total $ 179,647 $ 6,484 $ 16,204 $ 202,335 Residential Real Estate Consumer Total December 31, 2015 Performing $ 165,048 $ 6,254 $ 16,458 $ 187,760 Nonperforming 37 — 1 38 Total $ 165,085 $ 6,254 $ 16,459 $ 187,798 The following tables include an aging analysis of the recorded investment of past due loans outstanding as of September 30, 2016 and December 31, 2015. September 30, 2016 30-59 60-89 90 Days Total Past Current Purchased Total Loans Past Due Commercial & Agriculture $ 57 $ 169 $ 213 $ 439 $ 129,172 $ 89 $ 129,700 $ — Commercial Real Estate: Owner Occupied 642 59 303 1,004 166,560 — 167,564 — Non-Owner Occupied — 14 316 330 385,533 — 385,863 — Residential Real Estate 230 384 1,299 1,913 245,084 177 247,174 — Real Estate Construction — — 27 27 56,892 — 56,919 — Farm Real Estate 21 — — 21 41,841 — 41,862 — Consumer and Other 157 37 33 227 17,658 — 17,885 33 Total $ 1,107 $ 663 $ 2,191 $ 3,961 $ 1,042,740 $ 266 $ 1,046,967 $ 33 December 31, 2015 30-59 60-89 90 Days Total Past Current Purchased Total Loans Past Due Commercial & Agriculture $ 9 $ 32 $ 37 $ 78 $ 124,192 $ 132 $ 124,402 $ — Commercial Real Estate: Owner Occupied 982 36 284 1,302 166,595 — 167,897 — Non-Owner Occupied 269 330 123 722 347,717 — 348,439 — Residential Real Estate 2,640 404 1,725 4,769 231,438 131 236,338 — Real Estate Construction 8 — — 8 58,890 — 58,898 — Farm Real Estate — — — — 46,993 — 46,993 — Consumer and Other 98 68 8 174 18,386 — 18,560 — Total $ 4,006 $ 870 $ 2,177 $ 7,053 $ 994,211 $ 263 $ 1,001,527 $ — The following table presents loans on nonaccrual status, excluding purchased credit-impaired (PCI) loans, as of September 30, 2016 and December 31, 2015. 2016 2015 Commercial & Agriculture $ 2,008 $ 1,185 Commercial Real Estate: Owner Occupied 1,618 1,645 Non-Owner Occupied 459 1,428 Residential Real Estate 3,887 3,911 Real Estate Construction 27 29 Farm Real Estate 54 961 Consumer and Other 84 100 Total $ 8,137 $ 9,259 Nonaccrual Loans: Modifications: Loans modified in a TDR are typically already on non-accrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR may have the financial effect of increasing the specific allowance associated with the loan. An allowance for impaired loans that have been modified in a TDR are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates. As of September 30, 2016, TDRs accounted for $214 of the allowance for loan losses. As of December 31, 2015, TDRs accounted for $286 of the allowance for loan losses. Loan modifications that are considered TDRs completed during the periods ended September 30, 2016 and September 30, 2015 were as follows: For the Nine-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture 4 $ 529 $ 529 Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate 2 308 308 Real Estate Construction — — — Farm Real Estate 3 700 700 Consumer and Other — — — Total Loan Modifications 9 $ 1,537 $ 1,537 For the Nine-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture — $ — $ — Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction 1 41 41 Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 41 $ 41 For the Three-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture — $ — $ — Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate 1 86 86 Consumer and Other — — — Total Loan Modifications 1 $ 86 $ 86 For the Three-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture — $ — $ — Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications — $ — $ — Recidivism, or the borrower defaulting on its obligation pursuant to a modified loan, results in the loan once again becoming a non-accrual loan. Recidivism occurs at a notably higher rate than do defaults on new origination loans, so modified loans present a higher risk of loss than do new origination loans. During both the three- and nine-month periods ended September 30, 2016 and September 30, 2015, there were no defaults on loans that were modified and considered TDRs during the respective twelve previous months. Impaired Loans: The following tables include the recorded investment and unpaid principal balances for impaired loans, excluding PCI loans, with the related allowance amount, if applicable, as of September 30, 2016 and December 31, 2015. September 30, 2016 December 31, 2015 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Commercial & Agriculture $ 2,386 $ 3,457 $ 851 $ 1,034 Commercial Real Estate: Owner Occupied 1,697 1,842 1,224 1,343 Non-Owner Occupied 369 396 1,742 1,826 Residential Real Estate 1,376 1,912 965 1,591 Farm Real Estate 665 665 953 1,026 Consumer and Other 1 1 3 3 Total 6,494 8,273 5,738 6,823 With an allowance recorded: Commercial & Agriculture — — $ — 22 23 $ 23 Commercial Real Estate: Owner Occupied 242 242 4 917 999 103 Non-Owner Occupied — — — — — — Residential Real Estate 478 497 113 808 683 260 Farm Real Estate — — — — — — Total 720 739 117 1,747 1,705 386 Total: Commercial & Agriculture 2,386 3,457 — 873 1,057 23 Commercial Real Estate: Owner Occupied 1,939 2,084 4 2,141 2,342 103 Non-Owner Occupied 369 396 — 1,742 1,826 — Residential Real Estate 1,854 2,409 113 1,773 2,274 260 Farm Real Estate 665 665 — 953 1,026 — Consumer and Other 1 1 — 3 3 — Total $ 7,214 $ 9,012 $ 117 $ 7,485 $ 8,528 $ 386 The following tables include the average recorded investment and interest income recognized for impaired loans. For the nine months ended: September 30, 2016 September 30, 2015 Average Interest Average Interest Commercial & Agriculture $ 1,453 $ 147 $ 1,680 $ 41 Commercial Real Estate - Owner Occupied 1,954 101 2,887 120 Commercial Real Estate - Non-Owner Occupied 1,519 62 1,997 31 Residential Real Estate 1,699 89 2,640 78 Real Estate Construction 473 6 20 — Farm Real Estate 1,123 33 620 42 Consumer and Other 2 — 5 — Total $ 8,223 $ 438 $ 9,849 $ 312 For the three months ended: September 30, 2016 September 30, 2015 Average Interest Average Interest Commercial & Agriculture $ 2,401 $ 67 $ 1,058 $ 4 Commercial Real Estate - Owner Occupied 1,774 51 2,447 23 Commercial Real Estate - Non-Owner Occupied 556 36 1,870 12 Residential Real Estate 1,873 29 2,450 12 Real Estate Construction — 6 20 — Farm Real Estate 1,032 2 816 14 Consumer and Other 2 — 4 — Total $ 7,638 $ 191 $ 8,665 $ 65 Changes in the amortizable yield for PCI loans were as follows, since acquisition: For the Nine-Month For the Nine-Month Period Ended Period Ended September 30, 2016 September 30, 2015 (In Thousands) (In Thousands) Balance at beginning of period $ 82 $ — Acquisition of PCI loans — 140 Accretion (24 ) — Balance at end of period $ 58 $ 140 For the Three-Month For the Three-Month Period Ended Period Ended September 30, 2016 September 30, 2015 (In Thousands) (In Thousands) Balance at beginning of period $ 66 $ 140 Acquisition of PCI loans — — Accretion (8 ) — Balance at end of period $ 58 $ 140 The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At September 30, 2016 At December 31, 2015 Acquired Loans with Acquired Loans with (In Thousands) Outstanding balance $ 868 $ 965 Carrying amount 266 263 There has been $97 and $123 in allowance for loan losses recorded for acquired loans with or without specific evidence of deterioration in credit quality as of September 30, 2016 and December 31, 2015, respectively. Foreclosed Assets Held For Sale Foreclosed assets acquired in settlement of loans are carried at fair value less estimated costs to sell and are included in other assets on the Consolidated Balance Sheet. As of September 30, 2016 and December 31, 2015, a total of $62 and $116, respectively, of foreclosed assets were included in other assets. As of September 30, 2016, included within the foreclosed assets is $62 of residential property acquired upon foreclosure of consumer residential mortgages or received via a deed in lieu transaction prior to the period end. As of September 30, 2016, the Company had initiated formal foreclosure procedures on $721 of consumer residential mortgages. |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Other Comprehensive Income | (6) Other Comprehensive Income The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax. For the Nine-Month Period Ended For the Nine-Month Period Ended September 30, 2016 September 30, 2015 Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 3,554 $ (4,049 ) $ (495 ) $ 3,730 $ (3,777 ) $ (47 ) Other comprehensive income (loss) before reclassifications 1,514 — 1,514 57 — 57 Amounts reclassified from accumulated other comprehensive income (loss) (13 ) 165 152 — 138 138 Net current-period other comprehensive income (loss) 1,501 165 1,666 57 138 195 Ending balance $ 5,055 $ (3,884 ) $ 1,171 $ 3,787 $ (3,639 ) $ 148 Amounts in parentheses indicate debits on the consolidated balance sheets. The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss). Amount Reclassified from (a) Details about Accumulated Other Comprehensive For the nine For the nine Affected Line Item in the Presented Unrealized gains and losses on available-for-sale securities $ 20 $ — Net gain (losses) on securities available for sale Tax effect (7 ) — Income tax expense 13 — Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (249 ) (b) (210 ) (b) Salaries, wages and benefits Tax effect 84 72 Income tax expense (165 ) (138 ) Net of tax Total reclassifications for the period $ (152 ) $ (138 ) Net of tax (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax. For the Three-Month Period Ended For the Three-Month Period Ended September 30, 2016 September 30, 2015 Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 5,863 $ (3,939 ) $ 1,924 $ 3,007 $ (3,685 ) $ (678 ) Other comprehensive income (loss) before reclassifications (796 ) — (796 ) 780 — 780 Amounts reclassified from accumulated other comprehensive income (loss) (12 ) 55 43 — 46 46 Net current-period other comprehensive income (loss) (808 ) 55 (753 ) 780 46 826 Ending balance $ 5,055 $ (3,884 ) $ 1,171 $ 3,787 $ (3,639 ) $ 148 Amounts in parentheses indicate debits on the consolidated balance sheets. The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss). Amount Reclassified from (a) Details about Accumulated Other Comprehensive For the three For the three Affected Line Item in the Presented Unrealized gains and losses on available-for-sale securities $ 18 $ — Net gain (losses) on securities available for sale Tax effect (6 ) — Income tax expense 12 — Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (83 ) (b) (70 ) (b) Salaries, wages and benefits Tax effect 28 24 Income tax expense (55 ) (46 ) Net of tax Total reclassifications for the period $ (43 ) $ (46 ) Net of tax (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | (7) Goodwill and Intangible Assets The balance of goodwill was $27,095 at both September 30, 2016 and December 31, 2015. Management performs an annual evaluation of goodwill for impairment, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management last performed an evaluation of the Company’s goodwill during the fourth quarter of 2015 and concluded that the Company’s goodwill was not impaired at December 31, 2015. The change in the carrying amount of goodwill for the periods ended September 30, 2016 and 2015 is as follows: Nine months ended 2016 2015 Beginning of year $ 27,095 $ 21,720 Acquired goodwill — 5,375 Impairment — — Other adjustments — — End of period $ 27,095 $ 27,095 Acquired intangible assets as of September 30, 2016 and September 30, 2015 were as follows: 2016 2015 Gross Accumulated Net Gross Accumulated Net Amortized intangible assets(1): MSRs $ 873 $ 225 $ 648 $ 722 $ 144 $ 578 Core deposit intangibles 7,274 5,979 1,295 7,274 5,264 2,010 Total amortized intangible assets $ 8,147 $ 6,204 $ 1,943 $ 7,996 $ 5,408 $ 2,588 (1) Excludes fully amortized intangible assets Aggregate core deposit intangible amortization expense was $527 and $522 for September 30, 2016 and 2015, respectively. Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit Total 2016 $ 9 $ 172 $ 181 2017 36 587 623 2018 36 111 147 2019 36 88 124 2020 36 71 107 Thereafter 495 266 761 $ 648 $ 1,295 $ 1,943 |
Short-Term Borrowings
Short-Term Borrowings | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | (8) Short-Term Borrowings Short-term borrowings are included in Federal Home Loan Bank advances on the Consolidated Balance Sheets and are summarized as follows: At September 30, 2016 At December 31, 2015 Federal Federal Funds Short-term Funds Short-term Purchased Borrowings Purchased Borrowings Outstanding balance $ — $ 17,500 $ — $ 53,700 Maximum indebtedness 20,000 70,400 — 64,700 Average balance 157 13,290 69 26,880 Average rate paid 0.79 % 0.42 % 0.53 % 0.20 % Interest rate on balance — 0.40 % — 0.35 % Average balance during the year represent daily averages. Average rate paid represents interest expense divided by the related average balances. These borrowing transactions can range from overnight to six months in maturity. The average maturity was one day at September 30, 2016 and December 31, 2015. Securities sold under agreements to repurchase are used to facilitate the needs of our customers as well as to facilitate our short-term funding needs. Securities sold under repurchase agreements are carried at the amount of cash received in association with the agreement. We continuously monitor the collateral levels and may be required, from time to time, to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of September 30, 2016 and December 31, 2015. All of the repurchase agreements are overnight agreements. September 30, 2016 December 31, 2015 Securities pledged for repurchase agreements: U.S. Treasury securities $ 840 $ 894 Obligations of U.S. government agencies 20,873 24,146 Total securities pledged $ 21,713 $ 25,040 Gross amount of recognized liabilities for repurchase agreements $ 21,713 $ 25,040 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Earnings per Common Share
Earnings per Common Share | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | (9) Earnings per Common Share Basic earnings per common share are computed as net income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the Company’s equity incentive plan, computed using the treasury stock method, and the impact of the Company’s convertible preferred stock using the “if converted” method. Three months ended Nine months ended 2016 2015 2016 2015 Basic Net income $ 3,680 $ 3,253 $ 13,586 $ 9,546 Preferred stock dividends 374 391 1,156 1,186 Net income available to common shareholders - basic $ 3,306 $ 2,862 $ 12,430 $ 8,360 Weighted average common shares outstanding - basic 8,042,303 7,843,578 7,922,170 7,815,222 Basic earnings per common share $ 0.41 $ 0.36 $ 1.57 $ 1.07 Diluted Net income available to common shareholders - basic $ 3,306 $ 2,862 $ 12,430 $ 8,360 Preferred stock dividends 374 391 1,156 1,186 Net income available to common shareholders - diluted $ 3,680 $ 3,253 $ 13,586 $ 9,546 Weighted average common shares outstanding for basic earnings per common share basic 8,042,303 7,843,578 7,922,170 7,815,222 Add: Dilutive effects of convertible preferred shares 2,922,609 3,078,245 3,024,712 3,101,937 Average shares and dilutive potential common shares outstanding - diluted 10,964,912 10,921,823 10,946,882 10,917,159 Diluted earnings per common share $ 0.34 $ 0.30 $ 1.24 $ 0.87 For the three-month period ended September 30, 2016 there were 2,922,609 dilutive shares related to the Company’s convertible preferred stock. For the nine-month period ended September 30, 2016 there were 3,024,712 dilutive shares related to the Company’s convertible preferred stock. For the three-month period ended September 30, 2015 there were 3,078,245 dilutive shares related to the Company’s convertible preferred stock. For the nine-month period ended September 30, 2015 there were 3,101,937 dilutive shares related to the Company’s convertible preferred stock. Under the “if converted” method, all convertible preferred shares are assumed to be converted into common shares at the corresponding conversion rate. These additional shares are then added to the common shares outstanding to calculate diluted earnings per share. |
Commitments, Contingencies and
Commitments, Contingencies and Off-Balance Sheet Risk | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Off-Balance Sheet Risk | (10) Commitments, Contingencies and Off-Balance Sheet Risk Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customers’ financing needs. These are agreements to provide credit or to support the credit of others, as long as the conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk of credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of commitment. The contractual amounts of financial instruments with off-balance-sheet risk were as follows for September 30, 2016 and December 31, 2015: Contract Amount September 30, 2016 December 31, 2015 Fixed Variable Fixed Variable Commitment to extend credit: Lines of credit and construction loans $ 8,661 $ 193,696 $ 9,416 $ 195,732 Overdraft protection 5 28,964 5 22,122 Letters of credit 600 351 200 750 $ 9,266 $ 223,011 $ 9,621 $ 218,604 Commitments to make loans are generally made for a period of one year or less. Fixed rate loan commitments included in the table above had interest rates ranging from 3.25% to 8.50% at September 30, 2016 and from 3.25% to 8.75% at December 31, 2015. Maturities extend up to 30 years. Civista is required to maintain certain reserve balances on hand in accordance with the Federal Reserve Board requirements. The average reserve balance maintained in accordance with such requirements was $2,767 on September 30, 2016 and $2,448 on December 31, 2015. |
Pension Information
Pension Information | 9 Months Ended |
Sep. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension Information | (11) Pension Information The Company sponsors a pension plan which is a noncontributory defined benefit retirement plan. Annual payments, subject to the maximum amount deductible for federal income tax purposes, are made to a pension trust fund. In 2006, the Company amended the pension plan to provide that no employee could be added as a participant to the pension plan after December 31, 2006. In 2014, the Company amended the pension plan again to provide that no additional benefits would accrue beyond April 30, 2014. Net periodic pension benefit was as follows: Three months ended Nine months ended 2016 2015 2016 2015 Service cost $ — $ — $ — $ — Interest cost 170 156 509 468 Expected return on plan assets (274 ) (283 ) (521 ) (848 ) Other components 83 70 249 210 Net periodic pension benefit $ (21 ) $ (57 ) $ 237 $ (170 ) The total amount of pension contributions expected to be paid by the Company in 2016 is $500, compared to $700 in 2015. |
Equity Incentive Plan
Equity Incentive Plan | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | (12) Equity Incentive Plan At the Company’s 2014 annual meeting, the shareholders adopted the Company’s 2014 Incentive Plan (“2014 Incentive Plan”). The 2014 Incentive Plan authorizes the Company to grant options, stock awards, stock units and other awards for up to 375,000 common shares of the Company. There were 315,720 shares available for future grants under this plan at September 30, 2016. During each of the last two years, the Board of Directors has awarded restricted common shares to senior officers of the Company. The restricted shares vest ratably over a three-year period following the grant date. The product of the number of restricted shares granted and the grant date market price of the Company’s common shares determines the fair value of restricted shares under the Company’s 2014 Incentive Plan. Management recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period for the entire award. On March 17, 2015, certain officers were awarded an aggregate of 16,983 restricted common shares, of which 5,657 shares vested on January 2, 2016. On January 4, 2016, directors of the Company’s banking subsidiary, Civista, were paid a retainer in the form of non-restricted common shares of the Company. The aggregate of 2,730 common shares were issued to Civista directors as payment of their retainer for their service on the Civista Board of Directors covering the period up to the 2016 Annual Meeting. This issuance was expensed in its entirety when the shares were issued in the amount of $32. On January 15, 2016, certain of the Company’s lending officers were awarded an aggregate of 12,734 restricted common shares under the 2014 Incentive Plan. These restricted shares vest over a 5-year service period, with 20% each vesting on January 2 of 2017, 2018, 2019, 2020 and 2021. On March 11, 2016, senior officers were awarded an aggregate of 16,130 restricted common shares, which vest over a three-year service period, with one third each vesting on January 2 of 2017, 2018 and 2019. Finally, on May 17, 2016, directors of the Company’s banking subsidiary, Civista, were paid a retainer in the form of non-restricted common shares of the Company. The aggregate of 12,285 common shares were issued to Civista directors as payment of their retainer for their service on the Civista Board of Directors covering the period up to the 2017 Annual Meeting. This issuance was expensed in its entirety when the shares were issued in the amount of $130. No options had been granted under the 2014 Incentive Plan as of September 30, 2016 and 2015. The Company classifies share-based compensation for employees with “Salaries, wages and benefits” in the consolidated statements of operations. Additionally, generally accepted accounting principles require the Company to report: (1) the expense associated with the grants as an adjustment to operating cash flows, and (2) any benefits of realized tax deductions in excess of previously recognized tax benefits on compensation expense as a financing cash flow. The following is a summary of the status of the Company’s restricted shares and changes therein: Three months ended Nine months ended Number of Weighted Number of Weighted Nonvested at beginning of period 39,524 $ 10.77 16,983 $ 10.82 Granted — — 28,864 10.75 Vested — — (5,657 ) 10.82 Forfeited (916 ) 10.91 (1,582 ) 10.83 Nonvested at September 30, 2016 38,608 10.77 38,608 10.77 During the nine-month period ended September 30, 2016, the Company recorded $299 of share-based compensation expense for shares granted under the 2014 Incentive Plan. Additionally, during the three months ended September 30, 2016, the Company recorded $28 of share-based compensation expense for the shares granted under the 2014 Incentive Plan. At September 30, 2016, the expected future compensation expense relating to the 16,983 restricted shares awarded in 2015 is $46 over the remaining vesting period of 1.25 years. The expected future compensation expense relating to the 16,130 restricted shares awarded in 2016 to the officers and Civista directors is $78 over the remaining vesting period of 2.25 years. The expected future compensation expense relating to the 12,734 restricted common shares awarded to lending officers of the Company in 2016 is $119 over the remaining vesting period of 4.25 years. On May 13, 2016, an agreement was signed thereby ending the employment of a grantee of restricted shares. As a result, a total of 666 restricted shares granted, but unvested, were forfeited. Finally, on September 19, 2016, a lending officer and restricted share grantee left the company. As a result, a total of 916 restricted shares granted, but unvested, were forfeited. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | (13) Fair Value Measurement The Company uses a fair value hierarchy to measure fair value. This hierarchy describes three levels of inputs that may be used to measure fair value. Level 1: Quoted prices for identical assets in active markets that are identifiable on the measurement date; Level 2: Significant other observable inputs, such as quoted prices for similar assets, quoted prices in markets that are not active and other inputs that are observable or can be corroborated by observable market data; Level 3: Significant unobservable inputs that reflect the Company’s own view about the assumptions that market participants would use in pricing an asset. Debt securities: Equity securities: Swap asset/liability: Impaired loans: Other real estate owned: Assets measured at fair value are summarized below. Fair Value Measurements at September 30, 2016 Using: (Level 1) (Level 2) (Level 3) Assets: Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 38,049 $ — Obligations of states and political subdivisions — 96,227 — Mortgage-backed securities in government sponsored entities — 65,977 — Equity securities in financial institutions — 714 — Swap asset — 3,705 — Liabilities: Swap liability — 3,705 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 319 Other real estate owned — — 62 Fair Value Measurements at December 31, 2015 Using: (Level 1) (Level 2) (Level 3) Assets: Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 40,937 $ — Obligations of states and political subdivisions — 92,152 — Mortgage-backed securities in government sponsored entities — 62,573 — Equity securities in financial institutions — 587 — Swap asset — 1,962 — Liabilities: Swap liability — 1,962 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 759 Other real estate owned — — 109 The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2016. Quantitative Information about Level 3 Fair Value Measurements September 30, 2016 Fair Value Valuation Technique Unobservable Input Range Weighted Impaired loans $ 319 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 - 30 months 18 months Other real estate owned $ 62 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2015. Quantitative Information about Level 3 Fair Value Measurements December 31, 2015 Fair Value Valuation Technique Unobservable Input Range Weighted Impaired loans $ 759 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 -30 months 17 months Other real estate owned $ 109 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% The carrying amount and fair values of financial instruments are as follows: September 30, 2016 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 33,229 $ 33,229 $ 33,229 $ — $ — Securities available for sale 200,967 200,967 — 200,967 — Loans, held for sale 2,827 2,827 2,827 — — Loans, net of allowance for loan losses 1,033,516 1,037,955 — — 1,037,955 Other securities 13,926 13,926 13,926 — — Bank owned life insurance 24,404 24,404 24,404 — — Accrued interest receivable 4,547 4,547 4,547 — — Swap asset 3,705 3,705 — 3,705 — Financial Liabilities: Nonmaturing deposits 915,360 915,360 915,360 — — Time deposits 218,793 219,345 — — 219,345 Short-term FHLB advances 17,500 17,394 17,394 — — Long-term FHLB advances 17,500 17,710 — — 17,710 Securities sold under agreement to repurchase 21,713 21,713 21,713 — — Subordinated debentures 29,427 30,367 — — 30,367 Accrued interest payable 137 137 137 — — Swap liability 3,705 3,705 — 3,705 — December 31, 2015 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 35,561 $ 35,561 $ 35,561 $ — $ — Securities available for sale 196,249 196,249 — 196,249 — Loans, held for sale 2,698 2,698 2,698 — — Loans, net of allowance for loan losses 987,166 986,848 — — 986,848 Other securities 13,452 13,452 13,452 — — Bank owned life insurance 20,104 20,104 20,104 — — Accrued interest receivable 3,902 3,902 3,902 — — Swap asset 1,962 1,962 — 1,962 — Financial Liabilities: Nonmaturing deposits 840,984 840,984 840,984 — — Time deposits 211,049 212,006 — — 212,006 Short-term FHLB advances 53,700 52,906 52,906 — — Long-term FHLB advances 17,500 17,687 — — 17,687 Securities sold under agreement to repurchase 25,040 25,040 25,040 — — Subordinated debentures 29,427 25,572 — — 25,572 Accrued interest payable 120 120 120 — — Swap liability 1,962 1,962 — 1,962 — Cash and due from financial institutions: Securities available for sale: Other securities: Loans, held-for-sale: Loans, net of allowance for loan losses: Bank owned life insurance: Accrued interest receivable and payable and securities sold under agreements to repurchase: Deposits: The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the current market rates currently offered for deposits of similar remaining maturities. The deposits’ fair value estimates do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market, commonly referred to as the core deposit intangible. Federal Home Loan Bank (“FHLB”) advances: Subordinated debentures: Fair value swap asset and liability: |
Derivative Hedging Instruments
Derivative Hedging Instruments | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Hedging Instruments | (14) Derivative Hedging Instruments To accommodate customer need and to support the Company’s asset/liability positioning, on occasion we enter into interest rate swaps with a customer and a bank counterparty. The Company enters into a floating rate loan and a fixed rate swap with our customer. Simultaneously, the Company enters into an offsetting fixed rate swap with a bank counterparty. In connection with each swap transaction, the Company agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on the same notional amount at a fixed interest rate. At the same time, the Company agrees to pay a bank counterparty the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. These transactions allow the Company’s customer to effectively convert variable rate loans to fixed rate loans. Since the Company acts as an intermediary for its customer, changes in the fair value of the underlying derivative contracts offset each other and do not significantly impact the Company’s results of operations. The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of September 30, 2016. Notional Weighted Impact of a Repricing Derivative Assets $ 53,373 5.07 % $ 33 Monthly Derivative Liabilities (53,373 ) -5.07 % (33 ) Monthly Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of December 31, 2015. Notional Weighted Impact of a Repricing Derivative Assets $ 35,534 5.31 % $ 20 Monthly Derivative Liabilities (35,534 ) -5.31 % (20 ) Monthly Net Exposure $ — $ — The Company monitors and controls all derivative products with a comprehensive Board of Director approved commercial loan swap policy. All hedge transactions must be approved in advance by the Lenders Loan Committee or the Directors Loan Committee of the Board of Directors. |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments | 9 Months Ended |
Sep. 30, 2016 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | (15) Qualified Affordable Housing Project Investments The Company invests in qualified affordable housing projects. At September 30, 2016 and December 31, 2015, the balance of the investment for qualified affordable housing projects was $2,477 and $2,177, respectively. These balances are reflected in the other assets line on the consolidated balance sheet. The unfunded commitments related to the investments in qualified affordable housing projects totaled $2,663 and $2,195 at September 30, 2016 and December 31, 2015, respectively. During the nine months ended September 30, 2016 and 2015, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $231 and $208, respectively, which was included within pretax income on the consolidated statements of operations. During the quarters ended September 30, 2016 and 2015, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $77 and $69, respectively, which was included within pretax income on the consolidated statements of operations. Additionally, during the nine months ended September 30, 2016 and 2015, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $442 and $350, respectively. During the quarters ended September 30, 2016 and 2015, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $147 and $117, respectively. During the three and nine months ended September 30, 2016 and 2015, the Company did not incur impairment losses related to its investment in qualified affordable housing projects. |
Significant Accounting Polici24
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates |
Income Taxes | Income Taxes |
Business Combinations | Business Combinations: |
Reclassifications | Reclassifications: |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Derivatives and Hedging |
Effect of Newly Issued but Not Yet Effective Accounting Standards | Effect of Newly Issued but Not Yet Effective Accounting Standards: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) . In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815) In March 2016, the FASB issued ASU 2016-07, Investments – Equity Method and Joint Ventures (Topic 323) In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) Share-Based Payment In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Available for Sale Securities | The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: September 30, 2016 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 37,811 $ 256 $ (18 ) $ 38,049 Obligations of states and political subdivisions 89,967 6,299 (39 ) 96,227 Mortgage-backed securities in government sponsored entities 65,049 957 (29 ) 65,977 Total debt securities 192,827 7,512 (86 ) 200,253 Equity securities in financial institutions 481 233 — 714 Total $ 193,308 $ 7,745 $ (86 ) $ 200,967 December 31, 2015 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 40,992 $ 74 $ (129 ) $ 40,937 Obligations of states and political subdivisions 87,255 4,959 (62 ) 92,152 Mortgage-backed securities in government sponsored entities 62,135 681 (243 ) 62,573 Total debt securities 190,382 5,714 (434 ) 195,662 Equity securities in financial institutions 481 106 — 587 Total $ 190,863 $ 5,820 $ (434 ) $ 196,249 |
Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities at September 30, 2016, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities and equity securities are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 8,697 $ 8,710 Due after one year through five years 27,208 27,523 Due after five years through ten years 28,533 30,440 Due after ten years 63,340 67,603 Mortgage-backed securities 65,049 65,977 Equity securities 481 714 Total securities available for sale $ 193,308 $ 200,967 |
Proceeds from Sales of Securities, Gross Realized Gains and Losses | Proceeds from sales of securities, gross realized gains and gross realized losses were as follows: Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Sale proceeds $ 2,385 $ — $ 4,379 $ — Gross realized gains 18 — 18 — Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer — (5 ) 2 (5 ) |
Securities with Unrealized Losses Not Recognized in Income | Securities with unrealized losses at September 30, 2016 and December 31, 2015 not recognized in income were as follows: September 30, 2016 12 Months or less More than 12 months Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 2,998 $ (2 ) $ 944 $ (16 ) $ 3,942 $ (18 ) Obligations of states and political subdivisions 3,101 (26 ) 526 (13 ) 3,627 (39 ) Mortgage-backed securities in gov’t sponsored entities 8,511 (16 ) 1,240 (13 ) 9,751 (29 ) Total temporarily impaired $ 14,610 $ (44 ) $ 2,710 $ (42 ) $ 17,320 $ (86 ) December 31, 2015 12 Months or less More than 12 months Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 25,464 $ (112 ) $ 1,132 $ (17 ) $ 26,596 $ (129 ) Obligations of states and political subdivisions 2,932 (20 ) 1,469 (42 ) 4,401 (62 ) Mortgage-backed securities in gov’t sponsored entities 27,263 (172 ) 5,041 (71 ) 32,304 (243 ) Total temporarily impaired $ 55,659 $ (304 ) $ 7,642 $ (130 ) $ 63,301 $ (434 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loan Balances | Loan balances were as follows: September 30, December 31, Commercial & Agriculture $ 129,700 $ 124,402 Commercial Real Estate- Owner Occupied 167,564 167,897 Commercial Real Estate- Non-Owner Occupied 385,863 348,439 Residential Real Estate 247,174 236,338 Real Estate Construction 56,919 58,898 Farm Real Estate 41,862 46,993 Consumer and Other 17,885 18,560 Total Loans 1,046,967 1,001,527 Allowance for Loan Losses (13,451 ) (14,361 ) Net Loans $ 1,033,516 $ 987,166 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Text Block [Abstract] | |
Changes in the Allowance for Loan Losses and Loan Balances Outstanding | The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three and nine months ended September 30, 2016 and 2015. Allowance for loan losses: For the nine months ended September 30, 2016 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,478 $ (870 ) $ 79 $ 1,023 $ 1,710 Commercial Real Estate: Owner Occupied 2,467 (166 ) 53 (44 ) 2,310 Non-Owner Occupied 4,657 (23 ) 1,365 (1,456 ) 4,543 Residential Real Estate 4,086 (280 ) 384 (735 ) 3,455 Real Estate Construction 371 (115 ) 8 160 424 Farm Real Estate 538 — — (108 ) 430 Consumer and Other 382 (85 ) 40 — 337 Unallocated 382 — — (140 ) 242 Total $ 14,361 $ (1,539 ) $ 1,929 $ (1,300 ) $ 13,451 Allowance for loan losses: For the nine months ended September 30, 2015 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,819 $ (187 ) $ 158 $ (412 ) $ 1,378 Commercial Real Estate: Owner Occupied 2,221 (362 ) 162 661 2,682 Non-Owner Occupied 4,334 (81 ) 105 581 4,939 Residential Real Estate 3,747 (779 ) 289 965 4,222 Real Estate Construction 428 — 4 (4 ) 428 Farm Real Estate 822 — 60 (224 ) 658 Consumer and Other 200 (115 ) 38 251 374 Unallocated 697 — — (618 ) 79 Total $ 14,268 $ (1,524 ) $ 816 $ 1,200 $ 14,760 Allowance for loan losses: For the three months ended September 30, 2016 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,557 $ (828 ) $ 44 $ 937 $ 1,710 Commercial Real Estate: Owner Occupied 2,393 (124 ) 1 40 2,310 Non-Owner Occupied 4,969 (23 ) 6 (409 ) 4,543 Residential Real Estate 3,899 (55 ) 23 (412 ) 3,455 Real Estate Construction 366 (115 ) 6 167 424 Farm Real Estate 476 — — (46 ) 430 Consumer and Other 358 (38 ) 7 10 337 Unallocated 529 — — (287 ) 242 Total $ 14,547 $ (1,183 ) $ 87 $ — $ 13,451 Allowance for loan losses: For the three months ended September 30, 2015 Beginning Charge- Recoveries Provision Ending Commercial & Agriculture $ 1,395 $ (187 ) $ 127 $ 43 $ 1,378 Commercial Real Estate: Owner Occupied 5,073 (164 ) 3 (2,230 ) 2,682 Non-Owner Occupied 3,153 (17 ) 15 1,788 4,939 Residential Real Estate 3,470 (238 ) 124 866 4,222 Real Estate Construction 434 — 1 (7 ) 428 Farm Real Estate 584 — 9 65 658 Consumer and Other 190 (28 ) 8 204 374 Unallocated 408 — — (329 ) 79 Total $ 14,707 $ (634 ) $ 287 $ 400 $ 14,760 The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of September 30, 2016 and December 31, 2015. September 30, 2016 Loans acquired Loans Loans Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 1,710 $ 1,710 Commercial Real Estate: Owner Occupied — 4 2,306 2,310 Non-Owner Occupied — — 4,543 4,543 Residential Real Estate 97 113 3,245 3,455 Real Estate Construction — — 424 424 Farm Real Estate — — 430 430 Consumer and Other — — 337 337 Unallocated — — 242 242 Total $ 97 $ 117 $ 13,237 $ 13,451 Outstanding loan balances: Commercial & Agriculture $ 89 $ 2,386 $ 127,225 $ 129,700 Commercial Real Estate: Owner Occupied — 1,939 165,625 167,564 Non-Owner Occupied — 369 385,494 385,863 Residential Real Estate 177 1,854 245,143 247,174 Real Estate Construction — — 56,919 56,919 Farm Real Estate — 665 41,197 41,862 Consumer and Other — 1 17,884 17,885 Total $ 266 $ 7,214 $ 1,039,487 $ 1,046,967 December 31, 2015 Loans Loans Loans Total Allowance for loan losses: Commercial & Agriculture $ — $ 23 $ 1,455 $ 1,478 Commercial Real Estate: Owner Occupied — 103 2,364 2,467 Non-Owner Occupied — — 4,657 4,657 Residential Real Estate 123 137 3,826 4,086 Real Estate Construction — — 371 371 Farm Real Estate — — 538 538 Consumer and Other — — 382 382 Unallocated — — 382 382 Total $ 123 $ 263 $ 13,975 $ 14,361 Outstanding loan balances: Commercial & Agriculture $ 132 $ 873 $ 123,397 $ 124,402 Commercial Real Estate: Owner Occupied — 2,141 165,756 167,897 Non-Owner Occupied — 1,742 346,697 348,439 Residential Real Estate 131 1,642 234,565 236,338 Real Estate Construction — — 58,898 58,898 Farm Real Estate — 953 46,040 46,993 Consumer and Other — 3 18,557 18,560 Total $ 263 $ 7,354 $ 993,910 $ 1,001,527 |
Credit Exposures by Internally Assigned Grades | September 30, 2016 Pass Special Substandard Doubtful Ending Commercial & Agriculture $ 121,273 $ 4,569 $ 3,858 $ — $ 129,700 Commercial Real Estate: Owner Occupied 159,392 1,849 6,323 — 167,564 Non-Owner Occupied 380,064 4,054 1,745 — 385,863 Residential Real Estate 58,290 1,698 7,539 — 67,527 Real Estate Construction 50,391 17 27 — 50,435 Farm Real Estate 32,430 7,088 2,344 — 41,862 Consumer and Other 1,586 — 95 — 1,681 Total $ 803,426 $ 19,275 $ 21,931 $ — $ 844,632 December 31, 2015 Pass Special Substandard Doubtful Ending Commercial & Agriculture $ 117,739 $ 3,090 $ 3,573 $ — $ 124,402 Commercial Real Estate: Owner Occupied 156,622 5,571 5,704 — 167,897 Non-Owner Occupied 339,734 6,100 2,605 — 348,439 Residential Real Estate 62,147 1,671 7,435 — 71,253 Real Estate Construction 52,399 216 29 — 52,644 Farm Real Estate 39,787 4,024 3,182 — 46,993 Consumer and Other 1,987 3 111 — 2,101 Total $ 770,415 $ 20,675 $ 22,639 $ — $ 813,729 |
Performing and Nonperforming Loans | Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. Residential Real Estate Consumer Total September 30, 2016 Performing $ 179,647 $ 6,484 $ 16,171 $ 202,302 Nonperforming — — 33 33 Total $ 179,647 $ 6,484 $ 16,204 $ 202,335 Residential Real Estate Consumer Total December 31, 2015 Performing $ 165,048 $ 6,254 $ 16,458 $ 187,760 Nonperforming 37 — 1 38 Total $ 165,085 $ 6,254 $ 16,459 $ 187,798 |
Aging Analysis of Past Due Loans | The following tables include an aging analysis of the recorded investment of past due loans outstanding as of September 30, 2016 and December 31, 2015. September 30, 2016 30-59 60-89 90 Days Total Past Current Purchased Total Loans Past Due Commercial & Agriculture $ 57 $ 169 $ 213 $ 439 $ 129,172 $ 89 $ 129,700 $ — Commercial Real Estate: Owner Occupied 642 59 303 1,004 166,560 — 167,564 — Non-Owner Occupied — 14 316 330 385,533 — 385,863 — Residential Real Estate 230 384 1,299 1,913 245,084 177 247,174 — Real Estate Construction — — 27 27 56,892 — 56,919 — Farm Real Estate 21 — — 21 41,841 — 41,862 — Consumer and Other 157 37 33 227 17,658 — 17,885 33 Total $ 1,107 $ 663 $ 2,191 $ 3,961 $ 1,042,740 $ 266 $ 1,046,967 $ 33 December 31, 2015 30-59 60-89 90 Days Total Past Current Purchased Total Loans Past Due Commercial & Agriculture $ 9 $ 32 $ 37 $ 78 $ 124,192 $ 132 $ 124,402 $ — Commercial Real Estate: Owner Occupied 982 36 284 1,302 166,595 — 167,897 — Non-Owner Occupied 269 330 123 722 347,717 — 348,439 — Residential Real Estate 2,640 404 1,725 4,769 231,438 131 236,338 — Real Estate Construction 8 — — 8 58,890 — 58,898 — Farm Real Estate — — — — 46,993 — 46,993 — Consumer and Other 98 68 8 174 18,386 — 18,560 — Total $ 4,006 $ 870 $ 2,177 $ 7,053 $ 994,211 $ 263 $ 1,001,527 $ — |
Summary of Nonaccrual Loans Excluding Purchased Credit-Impaired (PCI) Loans | The following table presents loans on nonaccrual status, excluding purchased credit-impaired (PCI) loans, as of September 30, 2016 and December 31, 2015. 2016 2015 Commercial & Agriculture $ 2,008 $ 1,185 Commercial Real Estate: Owner Occupied 1,618 1,645 Non-Owner Occupied 459 1,428 Residential Real Estate 3,887 3,911 Real Estate Construction 27 29 Farm Real Estate 54 961 Consumer and Other 84 100 Total $ 8,137 $ 9,259 |
Schedule of Troubled Debt Restructurings | Loan modifications that are considered TDRs completed during the periods ended September 30, 2016 and September 30, 2015 were as follows: For the Nine-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture 4 $ 529 $ 529 Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate 2 308 308 Real Estate Construction — — — Farm Real Estate 3 700 700 Consumer and Other — — — Total Loan Modifications 9 $ 1,537 $ 1,537 For the Nine-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture — $ — $ — Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction 1 41 41 Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 41 $ 41 For the Three-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture — $ — $ — Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate 1 86 86 Consumer and Other — — — Total Loan Modifications 1 $ 86 $ 86 For the Three-Month Period Ended Number Pre-Modification Post- Commercial & Agriculture — $ — $ — Commercial Real Estate - Owner Occupied — — — Commercial Real Estate - Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications — $ — $ — |
Impaired Loans Excluding PCI Loans | The following tables include the recorded investment and unpaid principal balances for impaired loans, excluding PCI loans, with the related allowance amount, if applicable, as of September 30, 2016 and December 31, 2015. September 30, 2016 December 31, 2015 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Commercial & Agriculture $ 2,386 $ 3,457 $ 851 $ 1,034 Commercial Real Estate: Owner Occupied 1,697 1,842 1,224 1,343 Non-Owner Occupied 369 396 1,742 1,826 Residential Real Estate 1,376 1,912 965 1,591 Farm Real Estate 665 665 953 1,026 Consumer and Other 1 1 3 3 Total 6,494 8,273 5,738 6,823 With an allowance recorded: Commercial & Agriculture — — $ — 22 23 $ 23 Commercial Real Estate: Owner Occupied 242 242 4 917 999 103 Non-Owner Occupied — — — — — — Residential Real Estate 478 497 113 808 683 260 Farm Real Estate — — — — — — Total 720 739 117 1,747 1,705 386 Total: Commercial & Agriculture 2,386 3,457 — 873 1,057 23 Commercial Real Estate: Owner Occupied 1,939 2,084 4 2,141 2,342 103 Non-Owner Occupied 369 396 — 1,742 1,826 — Residential Real Estate 1,854 2,409 113 1,773 2,274 260 Farm Real Estate 665 665 — 953 1,026 — Consumer and Other 1 1 — 3 3 — Total $ 7,214 $ 9,012 $ 117 $ 7,485 $ 8,528 $ 386 The following tables include the average recorded investment and interest income recognized for impaired loans. For the nine months ended: September 30, 2016 September 30, 2015 Average Interest Average Interest Commercial & Agriculture $ 1,453 $ 147 $ 1,680 $ 41 Commercial Real Estate - Owner Occupied 1,954 101 2,887 120 Commercial Real Estate - Non-Owner Occupied 1,519 62 1,997 31 Residential Real Estate 1,699 89 2,640 78 Real Estate Construction 473 6 20 — Farm Real Estate 1,123 33 620 42 Consumer and Other 2 — 5 — Total $ 8,223 $ 438 $ 9,849 $ 312 For the three months ended: September 30, 2016 September 30, 2015 Average Interest Average Interest Commercial & Agriculture $ 2,401 $ 67 $ 1,058 $ 4 Commercial Real Estate - Owner Occupied 1,774 51 2,447 23 Commercial Real Estate - Non-Owner Occupied 556 36 1,870 12 Residential Real Estate 1,873 29 2,450 12 Real Estate Construction — 6 20 — Farm Real Estate 1,032 2 816 14 Consumer and Other 2 — 4 — Total $ 7,638 $ 191 $ 8,665 $ 65 |
Schedule of Changes in Amortized Yield for PCI Loans | Changes in the amortizable yield for PCI loans were as follows, since acquisition: For the Nine-Month For the Nine-Month Period Ended Period Ended September 30, 2016 September 30, 2015 (In Thousands) (In Thousands) Balance at beginning of period $ 82 $ — Acquisition of PCI loans — 140 Accretion (24 ) — Balance at end of period $ 58 $ 140 For the Three-Month For the Three-Month Period Ended Period Ended September 30, 2016 September 30, 2015 (In Thousands) (In Thousands) Balance at beginning of period $ 66 $ 140 Acquisition of PCI loans — — Accretion (8 ) — Balance at end of period $ 58 $ 140 |
Schedule of Loans Acquired and Accounted | The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At September 30, 2016 At December 31, 2015 Acquired Loans with Acquired Loans with (In Thousands) Outstanding balance $ 868 $ 965 Carrying amount 266 263 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax | The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax. For the Nine-Month Period Ended For the Nine-Month Period Ended September 30, 2016 September 30, 2015 Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 3,554 $ (4,049 ) $ (495 ) $ 3,730 $ (3,777 ) $ (47 ) Other comprehensive income (loss) before reclassifications 1,514 — 1,514 57 — 57 Amounts reclassified from accumulated other comprehensive income (loss) (13 ) 165 152 — 138 138 Net current-period other comprehensive income (loss) 1,501 165 1,666 57 138 195 Ending balance $ 5,055 $ (3,884 ) $ 1,171 $ 3,787 $ (3,639 ) $ 148 Amounts in parentheses indicate debits on the consolidated balance sheets. The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss). Amount Reclassified from (a) Details about Accumulated Other Comprehensive For the nine For the nine Affected Line Item in the Presented Unrealized gains and losses on available-for-sale securities $ 20 $ — Net gain (losses) on securities available for sale Tax effect (7 ) — Income tax expense 13 — Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (249 ) (b) (210 ) (b) Salaries, wages and benefits Tax effect 84 72 Income tax expense (165 ) (138 ) Net of tax Total reclassifications for the period $ (152 ) $ (138 ) Net of tax (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax. For the Three-Month Period Ended For the Three-Month Period Ended September 30, 2016 September 30, 2015 Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 5,863 $ (3,939 ) $ 1,924 $ 3,007 $ (3,685 ) $ (678 ) Other comprehensive income (loss) before reclassifications (796 ) — (796 ) 780 — 780 Amounts reclassified from accumulated other comprehensive income (loss) (12 ) 55 43 — 46 46 Net current-period other comprehensive income (loss) (808 ) 55 (753 ) 780 46 826 Ending balance $ 5,055 $ (3,884 ) $ 1,171 $ 3,787 $ (3,639 ) $ 148 Amounts in parentheses indicate debits on the consolidated balance sheets. |
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) | The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss). Amount Reclassified from (a) Details about Accumulated Other Comprehensive For the nine For the nine Affected Line Item in the Presented Unrealized gains and losses on available-for-sale securities $ 20 $ — Net gain (losses) on securities available for sale Tax effect (7 ) — Income tax expense 13 — Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (249 ) (b) (210 ) (b) Salaries, wages and benefits Tax effect 84 72 Income tax expense (165 ) (138 ) Net of tax Total reclassifications for the period $ (152 ) $ (138 ) Net of tax (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss). Amount Reclassified from (a) Details about Accumulated Other Comprehensive For the three For the three Affected Line Item in the Presented Unrealized gains and losses on available-for-sale securities $ 18 $ — Net gain (losses) on securities available for sale Tax effect (6 ) — Income tax expense 12 — Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (83 ) (b) (70 ) (b) Salaries, wages and benefits Tax effect 28 24 Income tax expense (55 ) (46 ) Net of tax Total reclassifications for the period $ (43 ) $ (46 ) Net of tax (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Change in Carrying Amount of Goodwill | The change in the carrying amount of goodwill for the periods ended September 30, 2016 and 2015 is as follows: Nine months ended 2016 2015 Beginning of year $ 27,095 $ 21,720 Acquired goodwill — 5,375 Impairment — — Other adjustments — — End of period $ 27,095 $ 27,095 |
Schedule of Acquired Intangible Assets | Acquired intangible assets as of September 30, 2016 and September 30, 2015 were as follows: 2016 2015 Gross Accumulated Net Gross Accumulated Net Amortized intangible assets(1): MSRs $ 873 $ 225 $ 648 $ 722 $ 144 $ 578 Core deposit intangibles 7,274 5,979 1,295 7,274 5,264 2,010 Total amortized intangible assets $ 8,147 $ 6,204 $ 1,943 $ 7,996 $ 5,408 $ 2,588 (1) Excludes fully amortized intangible assets |
Schedule of Estimated Amortization Expense | Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit Total 2016 $ 9 $ 172 $ 181 2017 36 587 623 2018 36 111 147 2019 36 88 124 2020 36 71 107 Thereafter 495 266 761 $ 648 $ 1,295 $ 1,943 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Summary of Federal Funds Purchased and Other Short-term Borrowings | Short-term borrowings are included in Federal Home Loan Bank advances on the Consolidated Balance Sheets and are summarized as follows: At September 30, 2016 At December 31, 2015 Federal Federal Funds Short-term Funds Short-term Purchased Borrowings Purchased Borrowings Outstanding balance $ — $ 17,500 $ — $ 53,700 Maximum indebtedness 20,000 70,400 — 64,700 Average balance 157 13,290 69 26,880 Average rate paid 0.79 % 0.42 % 0.53 % 0.20 % Interest rate on balance — 0.40 % — 0.35 % |
Summary of Securities Pledged as Collateral Under Repurchase Agreements | The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of September 30, 2016 and December 31, 2015. All of the repurchase agreements are overnight agreements. September 30, 2016 December 31, 2015 Securities pledged for repurchase agreements: U.S. Treasury securities $ 840 $ 894 Obligations of U.S. government agencies 20,873 24,146 Total securities pledged $ 21,713 $ 25,040 Gross amount of recognized liabilities for repurchase agreements $ 21,713 $ 25,040 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share | Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the Company’s equity incentive plan, computed using the treasury stock method, and the impact of the Company’s convertible preferred stock using the “if converted” method. Three months ended Nine months ended 2016 2015 2016 2015 Basic Net income $ 3,680 $ 3,253 $ 13,586 $ 9,546 Preferred stock dividends 374 391 1,156 1,186 Net income available to common shareholders - basic $ 3,306 $ 2,862 $ 12,430 $ 8,360 Weighted average common shares outstanding - basic 8,042,303 7,843,578 7,922,170 7,815,222 Basic earnings per common share $ 0.41 $ 0.36 $ 1.57 $ 1.07 Diluted Net income available to common shareholders - basic $ 3,306 $ 2,862 $ 12,430 $ 8,360 Preferred stock dividends 374 391 1,156 1,186 Net income available to common shareholders - diluted $ 3,680 $ 3,253 $ 13,586 $ 9,546 Weighted average common shares outstanding for basic earnings per common share basic 8,042,303 7,843,578 7,922,170 7,815,222 Add: Dilutive effects of convertible preferred shares 2,922,609 3,078,245 3,024,712 3,101,937 Average shares and dilutive potential common shares outstanding - diluted 10,964,912 10,921,823 10,946,882 10,917,159 Diluted earnings per common share $ 0.34 $ 0.30 $ 1.24 $ 0.87 |
Commitments, Contingencies an32
Commitments, Contingencies and Off-Balance Sheet Risk (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Amounts of Financial Instruments with Off-Balance-Sheet Risk | The contractual amounts of financial instruments with off-balance-sheet risk were as follows for September 30, 2016 and December 31, 2015: Contract Amount September 30, 2016 December 31, 2015 Fixed Variable Fixed Variable Commitment to extend credit: Lines of credit and construction loans $ 8,661 $ 193,696 $ 9,416 $ 195,732 Overdraft protection 5 28,964 5 22,122 Letters of credit 600 351 200 750 $ 9,266 $ 223,011 $ 9,621 $ 218,604 |
Pension Information (Tables)
Pension Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Components of Net Periodic Pension Benefit | Net periodic pension benefit was as follows: Three months ended Nine months ended 2016 2015 2016 2015 Service cost $ — $ — $ — $ — Interest cost 170 156 509 468 Expected return on plan assets (274 ) (283 ) (521 ) (848 ) Other components 83 70 249 210 Net periodic pension benefit $ (21 ) $ (57 ) $ 237 $ (170 ) |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Company's Restricted Stock | The following is a summary of the status of the Company’s restricted shares and changes therein: Three months ended Nine months ended Number of Weighted Number of Weighted Nonvested at beginning of period 39,524 $ 10.77 16,983 $ 10.82 Granted — — 28,864 10.75 Vested — — (5,657 ) 10.82 Forfeited (916 ) 10.91 (1,582 ) 10.83 Nonvested at September 30, 2016 38,608 10.77 38,608 10.77 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value | Assets measured at fair value are summarized below. Fair Value Measurements at September 30, 2016 Using: (Level 1) (Level 2) (Level 3) Assets: Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 38,049 $ — Obligations of states and political subdivisions — 96,227 — Mortgage-backed securities in government sponsored entities — 65,977 — Equity securities in financial institutions — 714 — Swap asset — 3,705 — Liabilities: Swap liability — 3,705 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 319 Other real estate owned — — 62 Fair Value Measurements at December 31, 2015 Using: (Level 1) (Level 2) (Level 3) Assets: Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 40,937 $ — Obligations of states and political subdivisions — 92,152 — Mortgage-backed securities in government sponsored entities — 62,573 — Equity securities in financial institutions — 587 — Swap asset — 1,962 — Liabilities: Swap liability — 1,962 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 759 Other real estate owned — — 109 |
Quantitative Information about Level 3 Fair Value Measurements | The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2016. Quantitative Information about Level 3 Fair Value Measurements September 30, 2016 Fair Value Valuation Technique Unobservable Input Range Weighted Impaired loans $ 319 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 - 30 months 18 months Other real estate owned $ 62 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2015. Quantitative Information about Level 3 Fair Value Measurements December 31, 2015 Fair Value Valuation Technique Unobservable Input Range Weighted Impaired loans $ 759 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 -30 months 17 months Other real estate owned $ 109 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% |
Carrying Amount and Fair Values of Financial Instruments | The carrying amount and fair values of financial instruments are as follows: September 30, 2016 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 33,229 $ 33,229 $ 33,229 $ — $ — Securities available for sale 200,967 200,967 — 200,967 — Loans, held for sale 2,827 2,827 2,827 — — Loans, net of allowance for loan losses 1,033,516 1,037,955 — — 1,037,955 Other securities 13,926 13,926 13,926 — — Bank owned life insurance 24,404 24,404 24,404 — — Accrued interest receivable 4,547 4,547 4,547 — — Swap asset 3,705 3,705 — 3,705 — Financial Liabilities: Nonmaturing deposits 915,360 915,360 915,360 — — Time deposits 218,793 219,345 — — 219,345 Short-term FHLB advances 17,500 17,394 17,394 — — Long-term FHLB advances 17,500 17,710 — — 17,710 Securities sold under agreement to repurchase 21,713 21,713 21,713 — — Subordinated debentures 29,427 30,367 — — 30,367 Accrued interest payable 137 137 137 — — Swap liability 3,705 3,705 — 3,705 — December 31, 2015 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 35,561 $ 35,561 $ 35,561 $ — $ — Securities available for sale 196,249 196,249 — 196,249 — Loans, held for sale 2,698 2,698 2,698 — — Loans, net of allowance for loan losses 987,166 986,848 — — 986,848 Other securities 13,452 13,452 13,452 — — Bank owned life insurance 20,104 20,104 20,104 — — Accrued interest receivable 3,902 3,902 3,902 — — Swap asset 1,962 1,962 — 1,962 — Financial Liabilities: Nonmaturing deposits 840,984 840,984 840,984 — — Time deposits 211,049 212,006 — — 212,006 Short-term FHLB advances 53,700 52,906 52,906 — — Long-term FHLB advances 17,500 17,687 — — 17,687 Securities sold under agreement to repurchase 25,040 25,040 25,040 — — Subordinated debentures 29,427 25,572 — — 25,572 Accrued interest payable 120 120 120 — — Swap liability 1,962 1,962 — 1,962 — |
Derivative Hedging Instruments
Derivative Hedging Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Interest Rate Swap Transactions | The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of September 30, 2016. Notional Weighted Impact of a Repricing Derivative Assets $ 53,373 5.07 % $ 33 Monthly Derivative Liabilities (53,373 ) -5.07 % (33 ) Monthly Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of December 31, 2015. Notional Weighted Impact of a Repricing Derivative Assets $ 35,534 5.31 % $ 20 Monthly Derivative Liabilities (35,534 ) -5.31 % (20 ) Monthly Net Exposure $ — $ — |
Consolidated Financial Statem37
Consolidated Financial Statements - Additional Information (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($)DwellingsSegment | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Number of loan concentration by bank to lessors and owners of Residential Buildings and Dwellings | Dwellings | 2 |
Loan concentration percentage of total loans | Greater than 10% of total loans |
Non Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 239,878 |
Amount payable to lessors in percentage | 22.90% |
Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 136,094 |
Amount payable to lessors in percentage | 13.00% |
Maximum [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Percentage of insurance commission revenue of total revenue | 1.00% |
WSP [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Number of reportable segment | Segment | 1 |
WSP [Member] | Maximum [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Percentage of insurance commission revenue of total revenue | 1.00% |
Securities - Available for Sale
Securities - Available for Sale Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 193,308 | $ 190,863 |
Gross Unrealized Gains | 7,745 | 5,820 |
Gross Unrealized Losses | (86) | (434) |
Total securities available for sale, Fair Value | 200,967 | 196,249 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 37,811 | 40,992 |
Gross Unrealized Gains | 256 | 74 |
Gross Unrealized Losses | (18) | (129) |
Total securities available for sale, Fair Value | 38,049 | 40,937 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 89,967 | 87,255 |
Gross Unrealized Gains | 6,299 | 4,959 |
Gross Unrealized Losses | (39) | (62) |
Total securities available for sale, Fair Value | 96,227 | 92,152 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 65,049 | 62,135 |
Gross Unrealized Gains | 957 | 681 |
Gross Unrealized Losses | (29) | (243) |
Total securities available for sale, Fair Value | 65,977 | 62,573 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 192,827 | 190,382 |
Gross Unrealized Gains | 7,512 | 5,714 |
Gross Unrealized Losses | (86) | (434) |
Total securities available for sale, Fair Value | 200,253 | 195,662 |
Equity Securities in Financial Institutions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 481 | 481 |
Gross Unrealized Gains | 233 | 106 |
Total securities available for sale, Fair Value | $ 714 | $ 587 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Investments, Debt and Equity Securities [Abstract] | ||
Amortized Cost, Due in one year or less | $ 8,697 | |
Amortized Cost, Due after one year through five years | 27,208 | |
Amortized Cost, Due after five years through ten years | 28,533 | |
Amortized Cost, Due after ten years | 63,340 | |
Amortized Cost, Mortgage-backed securities | 65,049 | |
Amortized Cost, Equity securities | 481 | |
Amortized Cost | 193,308 | $ 190,863 |
Fair value, Due in one year or less | 8,710 | |
Fair value, Due after one year through five years | 27,523 | |
Fair value, Due after five years through ten years | 30,440 | |
Fair value, Due after ten years | 67,603 | |
Fair value, Mortgage-backed securities | 65,977 | |
Fair value, Equity securities | 714 | |
Fair value, Total securities available for sale | $ 200,967 | $ 196,249 |
Securities - Proceeds from Sale
Securities - Proceeds from Sales of Securities, Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Sale proceeds | $ 2,385 | $ 4,379 | ||
Gross realized gains | 18 | 18 | ||
Gross realized losses | $ 0 | $ 0 | 0 | $ 0 |
Gains (losses) from securities called or settled by the issuer | $ (5) | $ 2 | $ (5) |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Sep. 30, 2016USD ($)Security | Dec. 31, 2015USD ($) |
Investments, Debt and Equity Securities [Abstract] | ||
Carrying value of pledged securities | $ | $ 156,087 | $ 142,888 |
Number of securities in portfolio with unrealized losses | Security | 19 |
Securities - Securities with Un
Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | $ 14,610 | $ 55,659 |
12 Months or less, Unrealized Loss | (44) | (304) |
More than 12 months, Fair Value | 2,710 | 7,642 |
More than 12 months, Unrealized Loss | (42) | (130) |
Total Fair Value | 17,320 | 63,301 |
Total Unrealized Loss | (86) | (434) |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 2,998 | 25,464 |
12 Months or less, Unrealized Loss | (2) | (112) |
More than 12 months, Fair Value | 944 | 1,132 |
More than 12 months, Unrealized Loss | (16) | (17) |
Total Fair Value | 3,942 | 26,596 |
Total Unrealized Loss | (18) | (129) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 3,101 | 2,932 |
12 Months or less, Unrealized Loss | (26) | (20) |
More than 12 months, Fair Value | 526 | 1,469 |
More than 12 months, Unrealized Loss | (13) | (42) |
Total Fair Value | 3,627 | 4,401 |
Total Unrealized Loss | (39) | (62) |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 8,511 | 27,263 |
12 Months or less, Unrealized Loss | (16) | (172) |
More than 12 months, Fair Value | 1,240 | 5,041 |
More than 12 months, Unrealized Loss | (13) | (71) |
Total Fair Value | 9,751 | 32,304 |
Total Unrealized Loss | $ (29) | $ (243) |
Loans - Loan Balances (Detail)
Loans - Loan Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 1,046,967 | $ 1,001,527 |
Allowance for loan losses | (13,451) | (14,361) |
Net loans | 1,033,516 | 987,166 |
Commercial and Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 129,700 | 124,402 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 167,564 | 167,897 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 385,863 | 348,439 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 247,174 | 236,338 |
Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 56,919 | 58,898 |
Farm Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 41,862 | 46,993 |
Consumer and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 17,885 | $ 18,560 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Receivables [Abstract] | ||
Deferred loan fees | $ 117 | $ 78 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016USD ($)SecurityLoan | Sep. 30, 2015SecurityLoan | Jun. 30, 2015 | Sep. 30, 2016USD ($)SecurityLoan | Sep. 30, 2015SecurityLoan | Dec. 31, 2015USD ($) | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Period for calculating Loss migration rates of portfolio segments | 3 years | ||||||
Allowance for loan losses | $ 13,451 | $ 13,451 | $ 14,361 | ||||
Proceeds from payoff on previously charged-off loans | $ 1,303 | ||||||
Allowance for loan losses look back period | 3 years | 2 years | |||||
Number of days past due for loans to be considered as nonperforming | 90 days | ||||||
Reasonable period for nonperforming TDRs to be returned to performing status | 6 months | ||||||
Number of days reaching where loans are considered for nonaccrual status | 90 days | ||||||
Conditions where loans are considered for nonaccrual status | A loan may be returned to accruing status only if one of three conditions are met the loan is well-secured and none of the principal and interest has been past due for a minimum of 90 days; the loan is a TDR and the borrower has made a minimum of six months payments under the modified terms; or the principal and interest payments are reasonably assured and a sustained period of performance has occurred, generally six months. | ||||||
Defaulted loans | SecurityLoan | 0 | 0 | 0 | 0 | |||
Impaired loans | Greater than $350 | ||||||
Allowance for loan losses recorded for acquired loans | $ 97 | 123 | |||||
Foreclosed assets | $ 62 | 62 | 116 | ||||
Commercial and Agriculture [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Decreases allowance for loans | (625) | ||||||
TDRs [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 214 | 214 | $ 286 | ||||
Residential Mortgage [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Foreclosed assets | 62 | 62 | |||||
Residential mortgages in process of foreclosure | $ 721 | $ 721 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | $ 14,547 | $ 14,707 | $ 14,361 | $ 14,361 | $ 14,268 |
Charge-offs | (1,183) | (634) | (1,539) | (1,524) | |
Recoveries | 87 | 287 | 1,929 | 816 | |
Provision | 400 | (1,300) | (1,300) | 1,200 | |
Ending Balance | 13,451 | 14,760 | 13,451 | 13,451 | 14,760 |
Commercial and Agriculture [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 1,557 | 1,395 | 1,478 | 1,478 | 1,819 |
Charge-offs | (828) | (187) | (870) | (187) | |
Recoveries | 44 | 127 | 79 | 158 | |
Provision | 937 | 43 | 1,023 | (412) | |
Ending Balance | 1,710 | 1,378 | 1,710 | 1,710 | 1,378 |
Commercial Real Estate Non Owner Occupied [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 4,969 | 3,153 | 4,657 | 4,657 | 4,334 |
Charge-offs | (23) | (17) | (23) | (81) | |
Recoveries | 6 | 15 | 1,365 | 105 | |
Provision | (409) | 1,788 | (1,456) | 581 | |
Ending Balance | 4,543 | 4,939 | 4,543 | 4,543 | 4,939 |
Residential Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 3,899 | 3,470 | 4,086 | 4,086 | 3,747 |
Charge-offs | (55) | (238) | (280) | (779) | |
Recoveries | 23 | 124 | 384 | 289 | |
Provision | (412) | 866 | (735) | 965 | |
Ending Balance | 3,455 | 4,222 | 3,455 | 3,455 | 4,222 |
Real Estate Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 366 | 434 | 371 | 371 | 428 |
Charge-offs | (115) | (115) | |||
Recoveries | 6 | 1 | 8 | 4 | |
Provision | 167 | (7) | 160 | (4) | |
Ending Balance | 424 | 428 | 424 | 424 | 428 |
Farm Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 476 | 584 | 538 | 538 | 822 |
Recoveries | 9 | 60 | |||
Provision | (46) | 65 | (108) | (224) | |
Ending Balance | 430 | 658 | 430 | 430 | 658 |
Consumer and Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 358 | 190 | 382 | 382 | 200 |
Charge-offs | (38) | (28) | (85) | (115) | |
Recoveries | 7 | 8 | 40 | 38 | |
Provision | 10 | 204 | 251 | ||
Ending Balance | 337 | 374 | 337 | 337 | 374 |
Commercial Real Estate Owner Occupied [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 2,393 | 5,073 | 2,467 | 2,467 | 2,221 |
Charge-offs | (124) | (164) | (166) | (362) | |
Recoveries | 1 | 3 | 53 | 162 | |
Provision | 40 | (2,230) | (44) | 661 | |
Ending Balance | 2,310 | 2,682 | 2,310 | 2,310 | 2,682 |
Unallocated [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 529 | 408 | 382 | 382 | 697 |
Provision | (287) | (329) | (140) | (618) | |
Ending Balance | $ 242 | $ 79 | $ 242 | $ 242 | $ 79 |
Allowance for Loan Losses - End
Allowance for Loan Losses - Ending Allocation of Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Individually evaluated for impairment | $ 117 | $ 263 | |||||
Collectively evaluated for impairment | 13,237 | 13,975 | |||||
Total | 13,451 | $ 14,547 | $ 14,361 | 14,361 | $ 14,760 | $ 14,707 | $ 14,268 |
Individually evaluated for impairment | 7,214 | 7,354 | |||||
Collectively evaluated for impairment | 1,039,487 | 993,910 | |||||
Total | 1,046,967 | 1,001,527 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans acquired with credit deterioration | 97 | 123 | |||||
Loan balance of loans acquired with credit deterioration | 266 | 263 | |||||
Commercial and Agriculture [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Individually evaluated for impairment | 23 | ||||||
Collectively evaluated for impairment | 1,710 | 1,455 | |||||
Total | 1,710 | 1,557 | 1,478 | 1,478 | 1,378 | 1,395 | 1,819 |
Individually evaluated for impairment | 2,386 | 873 | |||||
Collectively evaluated for impairment | 127,225 | 123,397 | |||||
Total | 129,700 | 124,402 | |||||
Commercial and Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loan balance of loans acquired with credit deterioration | 89 | 132 | |||||
Commercial Real Estate Non Owner Occupied [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Collectively evaluated for impairment | 4,543 | 4,657 | |||||
Total | 4,543 | 4,969 | 4,657 | 4,657 | 4,939 | 3,153 | 4,334 |
Individually evaluated for impairment | 369 | 1,742 | |||||
Collectively evaluated for impairment | 385,494 | 346,697 | |||||
Total | 385,863 | 348,439 | |||||
Commercial Real Estate Owner Occupied [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Individually evaluated for impairment | 4 | 103 | |||||
Collectively evaluated for impairment | 2,306 | 2,364 | |||||
Total | 2,310 | 2,393 | 2,467 | 2,467 | 2,682 | 5,073 | 2,221 |
Individually evaluated for impairment | 1,939 | 2,141 | |||||
Collectively evaluated for impairment | 165,625 | 165,756 | |||||
Total | 167,564 | 167,897 | |||||
Residential Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Individually evaluated for impairment | 113 | 137 | |||||
Collectively evaluated for impairment | 3,245 | 3,826 | |||||
Total | 3,455 | 3,899 | 4,086 | 4,086 | 4,222 | 3,470 | 3,747 |
Individually evaluated for impairment | 1,854 | 1,642 | |||||
Collectively evaluated for impairment | 245,143 | 234,565 | |||||
Total | 247,174 | 236,338 | |||||
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans acquired with credit deterioration | 97 | 123 | |||||
Loan balance of loans acquired with credit deterioration | 177 | 131 | |||||
Real Estate Construction [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Collectively evaluated for impairment | 424 | 371 | |||||
Total | 424 | 366 | 371 | 371 | 428 | 434 | 428 |
Collectively evaluated for impairment | 56,919 | 58,898 | |||||
Total | 56,919 | 58,898 | |||||
Farm Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Collectively evaluated for impairment | 430 | 538 | |||||
Total | 430 | 476 | 538 | 538 | 658 | 584 | 822 |
Individually evaluated for impairment | 665 | 953 | |||||
Collectively evaluated for impairment | 41,197 | 46,040 | |||||
Total | 41,862 | 46,993 | |||||
Consumer and Other [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Collectively evaluated for impairment | 337 | 382 | |||||
Total | 337 | 358 | 382 | 382 | 374 | 190 | 200 |
Individually evaluated for impairment | 1 | 3 | |||||
Collectively evaluated for impairment | 17,884 | 18,557 | |||||
Total | 17,885 | 18,560 | |||||
Unallocated [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Collectively evaluated for impairment | 242 | 382 | |||||
Total | $ 242 | $ 529 | $ 382 | $ 382 | $ 79 | $ 408 | $ 697 |
Allowance for Loan Losses - Cre
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 844,632 | $ 813,729 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 803,426 | 770,415 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 19,275 | 20,675 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 21,931 | 22,639 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 129,700 | 124,402 |
Commercial and Agriculture [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 121,273 | 117,739 |
Commercial and Agriculture [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 4,569 | 3,090 |
Commercial and Agriculture [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3,858 | 3,573 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 167,564 | 167,897 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 159,392 | 156,622 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,849 | 5,571 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 6,323 | 5,704 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 385,863 | 348,439 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 380,064 | 339,734 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 4,054 | 6,100 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,745 | 2,605 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 67,527 | 71,253 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 58,290 | 62,147 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,698 | 1,671 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 7,539 | 7,435 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 50,435 | 52,644 |
Real Estate Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 50,391 | 52,399 |
Real Estate Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 17 | 216 |
Real Estate Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 27 | 29 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 41,862 | 46,993 |
Farm Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 32,430 | 39,787 |
Farm Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 7,088 | 4,024 |
Farm Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 2,344 | 3,182 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,681 | 2,101 |
Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,586 | 1,987 |
Consumer and Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3 | |
Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 95 | $ 111 |
Allowance for Loan Losses - Per
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | $ 202,302 | $ 187,760 |
Nonperforming | 33 | 38 |
Total | 202,335 | 187,798 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 179,647 | 165,048 |
Nonperforming | 37 | |
Total | 179,647 | 165,085 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 6,484 | 6,254 |
Total | 6,484 | 6,254 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 16,171 | 16,458 |
Nonperforming | 33 | 1 |
Total | $ 16,204 | $ 16,459 |
Allowance for Loan Losses - Agi
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 3,961 | $ 7,053 |
Current | 1,042,740 | 994,211 |
Total Loans | 1,046,967 | 1,001,527 |
Past Due 90 Days and Accruing | 33 | |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,107 | 4,006 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 663 | 870 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,191 | 2,177 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 439 | 78 |
Current | 129,172 | 124,192 |
Total Loans | 129,700 | 124,402 |
Commercial and Agriculture [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 57 | 9 |
Commercial and Agriculture [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 169 | 32 |
Commercial and Agriculture [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 213 | 37 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,004 | 1,302 |
Current | 166,560 | 166,595 |
Total Loans | 167,564 | 167,897 |
Commercial Real Estate Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 642 | 982 |
Commercial Real Estate Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 59 | 36 |
Commercial Real Estate Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 303 | 284 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 330 | 722 |
Current | 385,533 | 347,717 |
Total Loans | 385,863 | 348,439 |
Commercial Real Estate Non Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 269 | |
Commercial Real Estate Non Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14 | 330 |
Commercial Real Estate Non Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 316 | 123 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,913 | 4,769 |
Current | 245,084 | 231,438 |
Total Loans | 247,174 | 236,338 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 230 | 2,640 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 384 | 404 |
Residential Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,299 | 1,725 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 27 | 8 |
Current | 56,892 | 58,890 |
Total Loans | 56,919 | 58,898 |
Real Estate Construction [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8 | |
Real Estate Construction [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 27 | |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 21 | |
Current | 41,841 | 46,993 |
Total Loans | 41,862 | 46,993 |
Farm Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 21 | |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 227 | 174 |
Current | 17,658 | 18,386 |
Total Loans | 17,885 | 18,560 |
Past Due 90 Days and Accruing | 33 | |
Consumer and Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 157 | 98 |
Consumer and Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 37 | 68 |
Consumer and Other [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 33 | 8 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 266 | 263 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 89 | 132 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | $ 177 | $ 131 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Nonaccrual Loans Excluding Purchased Credit-Impaired (PCI) Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 8,137 | $ 9,259 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 2,008 | 1,185 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,618 | 1,645 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 459 | 1,428 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 3,887 | 3,911 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 27 | 29 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 54 | 961 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 84 | $ 100 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016USD ($)Contract | Sep. 30, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | 9 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 86 | $ 1,537 | $ 41 |
Post-Modification Outstanding Recorded Investment | $ 86 | $ 1,537 | $ 41 |
Commercial and Agriculture [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 4 | ||
Pre-Modification Outstanding Recorded Investment | $ 529 | ||
Post-Modification Outstanding Recorded Investment | $ 529 | ||
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 308 | ||
Post-Modification Outstanding Recorded Investment | $ 308 | ||
Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 41 | ||
Post-Modification Outstanding Recorded Investment | $ 41 | ||
Farm Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 86 | $ 700 | |
Post-Modification Outstanding Recorded Investment | $ 86 | $ 700 |
Allowance for Loan Losses - Imp
Allowance for Loan Losses - Impaired Loans Excluding PCI Loans - Recorded Investment and Unpaid Principal Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $ 6,494 | $ 5,738 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 8,273 | 6,823 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 720 | 1,747 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 739 | 1,705 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 117 | 386 |
Impaired financing receivables, Recorded Investment, Total | 7,214 | 7,485 |
Impaired financing receivables, Unpaid Principal Balance, Total | 9,012 | 8,528 |
Impaired financing receivables, Related Allowance, Total | 117 | 386 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 2,386 | 851 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 3,457 | 1,034 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 22 | |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 23 | |
Impaired financing receivables, with an allowance recorded, Related Allowance | 23 | |
Impaired financing receivables, Recorded Investment, Total | 2,386 | 873 |
Impaired financing receivables, Unpaid Principal Balance, Total | 3,457 | 1,057 |
Impaired financing receivables, Related Allowance, Total | 23 | |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,697 | 1,224 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,842 | 1,343 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 242 | 917 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 242 | 999 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 4 | 103 |
Impaired financing receivables, Recorded Investment, Total | 1,939 | 2,141 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,084 | 2,342 |
Impaired financing receivables, Related Allowance, Total | 4 | 103 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 369 | 1,742 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 396 | 1,826 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, Recorded Investment, Total | 369 | 1,742 |
Impaired financing receivables, Unpaid Principal Balance, Total | 396 | 1,826 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,376 | 965 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,912 | 1,591 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 478 | 808 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 497 | 683 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 113 | 260 |
Impaired financing receivables, Recorded Investment, Total | 1,854 | 1,773 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,409 | 2,274 |
Impaired financing receivables, Related Allowance, Total | 113 | 260 |
Farm Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 665 | 953 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 665 | 1,026 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, Recorded Investment, Total | 665 | 953 |
Impaired financing receivables, Unpaid Principal Balance, Total | 665 | 1,026 |
Consumer and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1 | 3 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1 | 3 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, Recorded Investment, Total | 1 | 3 |
Impaired financing receivables, Unpaid Principal Balance, Total | $ 1 | $ 3 |
Allowance for Loan Losses - I54
Allowance for Loan Losses - Impaired Loans - Average Recorded Investment and Interest Income Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | $ 7,638 | $ 8,665 | $ 8,223 | $ 9,849 |
Impaired loans, Interest Income Recognized, Total | 191 | 65 | 438 | 312 |
Commercial and Agriculture [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | 2,401 | 1,058 | 1,453 | 1,680 |
Impaired loans, Interest Income Recognized, Total | 67 | 4 | 147 | 41 |
Commercial Real Estate Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | 1,774 | 2,447 | 1,954 | 2,887 |
Impaired loans, Interest Income Recognized, Total | 51 | 23 | 101 | 120 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | 556 | 1,870 | 1,519 | 1,997 |
Impaired loans, Interest Income Recognized, Total | 36 | 12 | 62 | 31 |
Residential Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | 1,873 | 2,450 | 1,699 | 2,640 |
Impaired loans, Interest Income Recognized, Total | 29 | 12 | 89 | 78 |
Real Estate Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | 20 | 473 | 20 | |
Impaired loans, Interest Income Recognized, Total | 6 | 6 | ||
Farm Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | 1,032 | 816 | 1,123 | 620 |
Impaired loans, Interest Income Recognized, Total | 2 | 14 | 33 | 42 |
Consumer and Other [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, Average Recorded Investment, Total | $ 2 | $ 4 | $ 2 | $ 5 |
Allowance for Loan Losses - S55
Allowance for Loan Losses - Schedule of Changes in Amortized Yield for PCI Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 66 | $ 140 | $ 82 | |
Acquisition of PCI loans | 0 | $ 140 | ||
Accretion | (8) | 0 | (24) | |
Balance at end of period | $ 58 | $ 140 | $ 58 | $ 140 |
Allowance for Loan Losses - S56
Allowance for Loan Losses - Schedule of Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Receivables [Abstract] | ||
Outstanding balance | $ 868 | $ 965 |
Carrying amount | $ 266 | $ 263 |
Other Comprehensive Income - Ch
Other Comprehensive Income - Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income(loss), beginning balance | $ 125,173 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 43 | $ 46 | 152 | $ 138 |
Total other comprehensive income (loss) | (753) | 826 | 1,666 | 195 |
Accumulated other comprehensive income(loss), ending balance | 138,309 | 138,309 | ||
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income(loss), beginning balance | 5,863 | 3,007 | 3,554 | 3,730 |
Other comprehensive income (loss) before reclassifications | (796) | 780 | 1,514 | 57 |
Amounts reclassified from accumulated other comprehensive income (loss) | (12) | (13) | ||
Total other comprehensive income (loss) | (808) | 780 | 1,501 | 57 |
Accumulated other comprehensive income(loss), ending balance | 5,055 | 3,787 | 5,055 | 3,787 |
Defined Benefit Pension Items [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income(loss), beginning balance | (3,939) | (3,685) | (4,049) | (3,777) |
Amounts reclassified from accumulated other comprehensive income (loss) | 55 | 46 | 165 | 138 |
Total other comprehensive income (loss) | 55 | 46 | 165 | 138 |
Accumulated other comprehensive income(loss), ending balance | (3,884) | (3,639) | (3,884) | (3,639) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income(loss), beginning balance | 1,924 | (678) | (495) | (47) |
Other comprehensive income (loss) before reclassifications | (796) | 780 | 1,514 | 57 |
Amounts reclassified from accumulated other comprehensive income (loss) | 43 | 46 | 152 | 138 |
Total other comprehensive income (loss) | (753) | 826 | 1,666 | 195 |
Accumulated other comprehensive income(loss), ending balance | $ 1,171 | $ 148 | $ 1,171 | $ 148 |
Other Comprehensive Income - Am
Other Comprehensive Income - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net gain (losses) on securities available for sale | $ (18) | $ 5 | $ (20) | $ 5 |
Income tax expense | 1,304 | 1,159 | 5,251 | 3,414 |
Net of tax | (3,306) | (2,862) | (12,430) | (8,360) |
Reclassifications, net of tax | (43) | (46) | (152) | (138) |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassifications, net of tax | 12 | 13 | ||
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net gain (losses) on securities available for sale | 18 | 20 | ||
Income tax expense | (6) | (7) | ||
Net of tax | 12 | 13 | ||
Accumulated Defined Benefit Plans Adjustment, Actuarial Gains/(Losses) [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Salaries, wages and benefits | (83) | (70) | (249) | (210) |
Defined Benefit Pension Items [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax expense | 28 | 24 | 84 | 72 |
Reclassifications, net of tax | $ (55) | $ (46) | $ (165) | $ (138) |
Goodwill and Intangible Asset59
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Goodwill | $ 27,095 | $ 27,095 | $ 27,095 | $ 27,095 | $ 27,095 | $ 21,720 |
Amortization of core deposit intangible assets | $ 172 | $ 189 | $ 527 | $ 522 |
Goodwill and Intangible Asset60
Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Beginning of year | $ 27,095 | $ 21,720 |
Acquired goodwill | 5,375 | |
Impairment | 0 | 0 |
Other adjustments | 0 | 0 |
End of period | $ 27,095 | $ 27,095 |
Goodwill and Intangible Asset61
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 8,147 | $ 7,996 |
Accumulated Amortization | 6,204 | 5,408 |
Estimated amortization expense | 1,943 | 2,588 |
MSRs [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 873 | 722 |
Accumulated Amortization | 225 | 144 |
Estimated amortization expense | 648 | 578 |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 7,274 | 7,274 |
Accumulated Amortization | 5,979 | 5,264 |
Estimated amortization expense | $ 1,295 | $ 2,010 |
Goodwill and Intangible Asset62
Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2,016 | $ 181 | |
2,017 | 623 | |
2,018 | 147 | |
2,019 | 124 | |
2,020 | 107 | |
Thereafter | 761 | |
Estimated amortization expense | 1,943 | $ 2,588 |
MSRs [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2,016 | 9 | |
2,017 | 36 | |
2,018 | 36 | |
2,019 | 36 | |
2,020 | 36 | |
Thereafter | 495 | |
Estimated amortization expense | 648 | 578 |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2,016 | 172 | |
2,017 | 587 | |
2,018 | 111 | |
2,019 | 88 | |
2,020 | 71 | |
Thereafter | 266 | |
Estimated amortization expense | $ 1,295 | $ 2,010 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Federal Funds Purchased and Other Short-term Borrowings (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Maximum indebtedness | $ 20,000,000 | |
Average balance | $ 157,000 | $ 69,000 |
Average rate paid | 0.79% | 0.53% |
Short Term Borrowings [Member] | ||
Short-term Debt [Line Items] | ||
Outstanding balance | $ 17,500,000 | $ 53,700,000 |
Maximum indebtedness | 70,400,000 | 64,700,000 |
Average balance | $ 13,290,000 | $ 26,880,000 |
Average rate paid | 0.42% | 0.20% |
Interest rate on balance | 0.40% | 0.35% |
Short-Term Borrowings - Summa64
Short-Term Borrowings - Summary of Securities Pledged as Collateral Under Repurchase Agreements (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | $ 21,713 | $ 25,040 |
Gross amount of recognized liabilities for repurchase agreements | 21,713 | 25,040 |
Amounts related to agreements not included in offsetting disclosures above | 0 | 0 |
U.S.Treasury Securities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | 840 | 894 |
Gross amount of recognized liabilities for repurchase agreements | 840 | 894 |
Obligations of U.S. Government Agencies [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | 20,873 | 24,146 |
Gross amount of recognized liabilities for repurchase agreements | $ 20,873 | $ 24,146 |
Earnings per Common Share - Com
Earnings per Common Share - Computation of Basic and Diluted Earnings per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Basic | ||||
Net income | $ 3,680 | $ 3,253 | $ 13,586 | $ 9,546 |
Preferred stock dividends | 374 | 391 | 1,156 | 1,186 |
Net income available to common shareholders - basic | $ 3,306 | $ 2,862 | $ 12,430 | $ 8,360 |
Weighted average common shares outstanding - basic | 8,042,303 | 7,843,578 | 7,922,170 | 7,815,222 |
Basic earnings per common share | $ 0.41 | $ 0.36 | $ 1.57 | $ 1.07 |
Diluted | ||||
Net income available to common shareholders - basic | $ 3,306 | $ 2,862 | $ 12,430 | $ 8,360 |
Preferred stock dividends | 374 | 391 | 1,156 | 1,186 |
Net income available to common shareholders - diluted | $ 3,680 | $ 3,253 | $ 13,586 | $ 9,546 |
Weighted average common shares outstanding for basic earnings per common share basic | 8,042,303 | 7,843,578 | 7,922,170 | 7,815,222 |
Add: Dilutive effects of convertible preferred shares | 2,922,609 | 3,078,245 | 3,024,712 | 3,101,937 |
Average shares and dilutive potential common shares outstanding - diluted | 10,964,912 | 10,921,823 | 10,946,882 | 10,917,159 |
Diluted earnings per common share | $ 0.34 | $ 0.30 | $ 1.24 | $ 0.87 |
Earnings per Common Share - Add
Earnings per Common Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Earnings Per Share [Abstract] | ||||
Dilutive shares related to convertible preferred stock | 2,922,609 | 3,078,245 | 3,024,712 | 3,101,937 |
Commitments, Contingencies an67
Commitments, Contingencies and Off-Balance Sheet Risk - Contractual Amounts of Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | $ 9,266 | $ 9,621 |
Variable Rate | 223,011 | 218,604 |
Lines of Credit and Construction Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 8,661 | 9,416 |
Variable Rate | 193,696 | 195,732 |
Overdraft Protection [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 5 | 5 |
Variable Rate | 28,964 | 22,122 |
Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 600 | 200 |
Variable Rate | $ 351 | $ 750 |
Commitments, Contingencies an68
Commitments, Contingencies and Off-Balance Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Maximum period of commitments to make loans | 1 year | |
Maximum time period of maturities | 30 years | |
Average reserve balance under Federal Reserve Board requirements | $ 2,767 | $ 2,448 |
Minimum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Range of fixed interest rate loan commitments | 3.25% | 3.25% |
Maximum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Range of fixed interest rate loan commitments | 8.50% | 8.75% |
Pension Information - Additiona
Pension Information - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | ||
Additional benefits under pension plan | $ 0 | |
Expected future employer contributions | $ 500,000 | |
Employer contributions | $ 700,000 |
Pension Information - Component
Pension Information - Components of Net Periodic Pension Benefit (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 170 | 156 | 509 | 468 |
Expected return on plan assets | (274) | (283) | (521) | (848) |
Other components | 83 | 70 | 249 | 210 |
Net periodic pension benefit | $ (21) | $ (57) | $ 237 | $ (170) |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 19, 2016 | May 17, 2016 | May 13, 2016 | Mar. 11, 2016 | Jan. 15, 2016 | Jan. 04, 2016 | Mar. 17, 2015 | Sep. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Restricted common shares granted | 28,864 | ||||||||||
Number of common Restricted Shares, Vested | 5,657 | ||||||||||
Share based compensation expense | $ 28 | $ 299 | |||||||||
Expected future compensation expense | $ 119 | $ 119 | |||||||||
Expected future compensation expense, restricted shares vesting period | 4 years 3 months | ||||||||||
Number of restricted shares, forfeited | 916 | 666 | 916 | 1,582 | |||||||
Restricted Shares Awarded in 2015 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Restricted common shares granted | 16,983 | ||||||||||
Expected future compensation expense | $ 46 | $ 46 | |||||||||
Expected future compensation expense, restricted shares vesting period | 1 year 3 months | ||||||||||
Restricted Shares Awarded in 2016 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Restricted common shares granted | 16,130 | ||||||||||
Expected future compensation expense | $ 78 | $ 78 | |||||||||
Expected future compensation expense, restricted shares vesting period | 2 years 3 months | ||||||||||
Executive Officer [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Restricted common shares granted | 12,734 | ||||||||||
Civista [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Share based compensation - Civista BOD | $ 130 | $ 32 | |||||||||
Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Restricted shares vesting service period | 3 years | 3 years | |||||||||
Restricted common shares granted | 12,285 | 2,730 | 16,983 | ||||||||
Number of common Restricted Shares, Vested | 5,657 | ||||||||||
Restricted Stock [Member] | Executive Officer [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Restricted common shares granted | 16,130 | ||||||||||
2014 Incentive Plan [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Maximum number of shares under stock option plan authorized for issuance | 375,000 | ||||||||||
Number of shares available for grant under stock option plan | 315,720 | 315,720 | |||||||||
Options granted | 0 | 0 | |||||||||
2014 Incentive Plan [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Restricted shares vesting service period | 5 years | ||||||||||
Restricted common shares granted | 12,734 | ||||||||||
Vesting percentage of option grants in each year | 20.00% |
Equity Incentive Plan - Summary
Equity Incentive Plan - Summary of Company's Restricted Stock (Detail) - $ / shares | Sep. 19, 2016 | May 13, 2016 | Sep. 30, 2016 | Sep. 30, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract] | ||||
Number of Restricted Shares, Nonvested at beginning of period | 39,524 | 16,983 | ||
Number of Restricted Shares, Granted | 28,864 | |||
Number of Restricted Shares, Vested | (5,657) | |||
Number of Restricted Shares, Forfeited | (916) | (666) | (916) | (1,582) |
Number of Restricted Shares, Nonvested at September 30, 2016 | 38,608 | 38,608 | ||
Weighted Average Grant Date Fair Value, Nonvested at beginning of period | $ 10.77 | $ 10.82 | ||
Weighted Average Grant Date Fair Value, Granted | 0 | 10.75 | ||
Weighted Average Grant Date Fair Value, Vested | 0 | 10.82 | ||
Weighted Average Grant Date Fair Value, Forfeited | 10.91 | 10.83 | ||
Weighted Average Grant Date Fair Value, Nonvested at September 30, 2016 | $ 10.77 | $ 10.77 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets Measured at Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 319 | $ 759 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 62 | 109 |
(Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Swap asset | 3,705 | |
Swap liability | 3,705 | 1,962 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Swap asset | 3,705 | 1,962 |
Swap liability | 3,705 | 1,962 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 38,049 | 40,937 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 96,227 | 92,152 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 65,977 | 62,573 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Equity Securities in Financial Institutions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 714 | 587 |
(Level 3) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 319 | 759 |
(Level 3) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 62 | $ 109 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 319 | $ 759 |
Impaired Loans [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Measurements, Valuation Technique | Appraisal of collateral | |
Other Real Estate Owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 62 | $ 109 |
Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Measurements, Valuation Technique | Appraisal of collateral | |
Maximum [Member] | Impaired Loans [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 30.00% | 30.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Fair Value Assumptions, Holding period | 30 months | 30 months |
Maximum [Member] | Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 30.00% | 30.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Minimum [Member] | Impaired Loans [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 0.00% | 0.00% |
Fair Value Assumptions, Holding period | 0 months | 0 months |
Minimum [Member] | Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 0.00% | 0.00% |
Weighted Average [Member] | Impaired Loans [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Fair Value Assumptions, Holding period | 18 months | 17 months |
Weighted Average [Member] | Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Amount and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Financial Assets: | ||||
Cash and due from financial institutions | $ 33,229 | $ 35,561 | $ 33,619 | $ 29,858 |
Securities available for sale | 200,967 | 196,249 | ||
Loans, net of allowance for loan losses | 1,033,516 | 987,166 | ||
Other securities | 13,926 | 13,452 | ||
Bank owned life insurance | 24,404 | 20,104 | ||
Accrued interest receivable | 4,547 | 3,902 | ||
Financial Liabilities: | ||||
Securities sold under agreement to repurchase | 21,713 | 25,040 | ||
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,229 | 35,561 | ||
Securities available for sale | 200,967 | 196,249 | ||
Loans, held for sale | 2,827 | 2,698 | ||
Loans, net of allowance for loan losses | 1,033,516 | 987,166 | ||
Other securities | 13,926 | 13,452 | ||
Bank owned life insurance | 24,404 | 20,104 | ||
Accrued interest receivable | 4,547 | 3,902 | ||
Swap asset | 3,705 | |||
Swap asset | 1,962 | |||
Financial Liabilities: | ||||
Nonmaturing deposits | 915,360 | 840,984 | ||
Time deposits | 218,793 | 211,049 | ||
Short-term FHLB advances | 17,500 | 53,700 | ||
Long-term FHLB advances | 17,500 | 17,500 | ||
Securities sold under agreement to repurchase | 21,713 | 25,040 | ||
Subordinated debentures | 29,427 | 29,427 | ||
Accrued interest payable | 137 | 120 | ||
Swap liability | 3,705 | |||
Swap liability | 1,962 | |||
Total Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,229 | 35,561 | ||
Securities available for sale | 200,967 | 196,249 | ||
Loans, held for sale | 2,827 | 2,698 | ||
Loans, net of allowance for loan losses | 1,037,955 | 986,848 | ||
Other securities | 13,926 | 13,452 | ||
Bank owned life insurance | 24,404 | 20,104 | ||
Accrued interest receivable | 4,547 | 3,902 | ||
Swap asset | 3,705 | |||
Swap asset | 1,962 | |||
Financial Liabilities: | ||||
Nonmaturing deposits | 915,360 | 840,984 | ||
Time deposits | 219,345 | 212,006 | ||
Short-term FHLB advances | 17,394 | 52,906 | ||
Long-term FHLB advances | 17,710 | 17,687 | ||
Securities sold under agreement to repurchase | 21,713 | 25,040 | ||
Subordinated debentures | 30,367 | 25,572 | ||
Accrued interest payable | 137 | 120 | ||
Swap liability | 3,705 | 1,962 | ||
(Level 1) [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,229 | 35,561 | ||
Loans, held for sale | 2,827 | 2,698 | ||
Other securities | 13,926 | 13,452 | ||
Bank owned life insurance | 24,404 | 20,104 | ||
Accrued interest receivable | 4,547 | 3,902 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 915,360 | 840,984 | ||
Short-term FHLB advances | 17,394 | 52,906 | ||
Securities sold under agreement to repurchase | 21,713 | 25,040 | ||
Accrued interest payable | 137 | 120 | ||
(Level 2) [Member] | ||||
Financial Assets: | ||||
Securities available for sale | 200,967 | 196,249 | ||
Swap asset | 3,705 | |||
Swap asset | 1,962 | |||
Financial Liabilities: | ||||
Swap liability | 3,705 | 1,962 | ||
(Level 3) [Member] | ||||
Financial Assets: | ||||
Loans, net of allowance for loan losses | 1,037,955 | 986,848 | ||
Financial Liabilities: | ||||
Time deposits | 219,345 | 212,006 | ||
Long-term FHLB advances | 17,710 | 17,687 | ||
Subordinated debentures | $ 30,367 | $ 25,572 |
Derivative Hedging Instrument76
Derivative Hedging Instruments - Summary of Interest Rate Swap Transactions (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ 0 | $ 0 |
Derivative Financial Instruments, Assets [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ 53,373,000 | $ 35,534,000 |
Weighted Average Rate Received(Paid) | 5.07% | 5.31% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ 33,000 | $ 20,000 |
Repricing Frequency | Monthly | |
Derivative Financial Instruments, Liabilities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ (53,373,000) | $ (35,534,000) |
Weighted Average Rate Received(Paid) | 5.07% | 5.31% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ (33,000) | $ (20,000) |
Repricing Frequency | Monthly |
Qualified Affordable Housing 77
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Investments in Affordable Housing Projects [Abstract] | |||||
Investment for qualified affordable housing projects included in other assets | $ 2,477,000 | $ 2,477,000 | $ 2,177,000 | ||
Unfunded commitments related to the investments in qualified affordable housing projects | 2,663,000 | 2,663,000 | $ 2,195,000 | ||
Recognized amortization expense included in pretax income | 77,000 | $ 69,000 | 231,000 | $ 208,000 | |
Recognized tax credits and other benefits from its investment in affordable housing tax credits | 147,000 | 117,000 | 442,000 | 350,000 | |
Impairment losses related to its investment in qualified affordable housing projects | $ 0 | $ 0 | $ 0 | $ 0 |