Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 03, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
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 | 10,170,935 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from financial institutions | $ 33,394 | $ 36,695 |
Securities available for sale | 229,419 | 195,864 |
Loans held for sale | 4,662 | 2,268 |
Loans, net of allowance of $12,946 and $13,305 | 1,129,046 | 1,042,201 |
Other securities | 14,247 | 14,055 |
Premises and equipment, net | 17,688 | 17,920 |
Accrued interest receivable | 4,999 | 3,854 |
Goodwill | 27,095 | 27,095 |
Other intangibles | 1,360 | 1,784 |
Bank owned life insurance | 24,981 | 24,552 |
Other assets | 9,197 | 10,975 |
Total assets | 1,496,088 | 1,377,263 |
Deposits | ||
Noninterest-bearing | 357,539 | 345,588 |
Interest-bearing | 843,750 | 775,515 |
Total deposits | 1,201,289 | 1,121,103 |
Federal Home Loan Bank advances | 56,750 | 48,500 |
Securities sold under agreements to repurchase | 15,148 | 28,925 |
Subordinated debentures | 29,427 | 29,427 |
Accrued expenses and other liabilities | 11,493 | 11,692 |
Total liabilities | 1,314,107 | 1,239,647 |
SHAREHOLDERS’ EQUITY | ||
Preferred shares, no par value, 200,000 shares authorized, Series B Preferred shares, $1,000 liquidation preference, 18,975 shares issued at September 30, 2017 and 20,481 shares issued at December 31, 2016, net of issuance costs | 17,557 | 18,950 |
Common shares, no par value, 20,000,000 shares authorized, 10,918,899 shares issued at September 30, 2017 and 9,091,473 shares issued at December 31, 2016 | 153,562 | 118,975 |
Retained earnings | 28,494 | 19,263 |
Treasury shares, 747,964 common shares at cost | (17,235) | (17,235) |
Accumulated other comprehensive loss | (397) | (2,337) |
Total shareholders’ equity | 181,981 | 137,616 |
Total liabilities and shareholders’ equity | $ 1,496,088 | $ 1,377,263 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||
Allowance for loan losses | $ 12,946 | $ 13,305 |
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 | 18,975 | 20,481 |
Common shares, no par value | ||
Common shares, shares authorized | 20,000,000 | 20,000,000 |
Common shares, shares issued | 10,918,899 | 9,091,473 |
Treasury shares, 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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest and dividend income | ||||
Loans, including fees | $ 13,022 | $ 11,824 | $ 37,211 | $ 35,311 |
Taxable securities | 977 | 872 | 2,764 | 2,494 |
Tax-exempt securities | 812 | 664 | 2,307 | 1,979 |
Federal funds sold and other | 25 | 10 | 473 | 376 |
Total interest income | 14,836 | 13,370 | 42,755 | 40,160 |
Interest expense | ||||
Deposits | 607 | 506 | 1,500 | 1,480 |
Federal Home Loan Bank advances | 276 | 111 | 534 | 312 |
Subordinated debentures | 268 | 221 | 766 | 650 |
Other | 5 | 6 | 16 | 17 |
Total interest expense | 1,156 | 844 | 2,816 | 2,459 |
Net interest income | 13,680 | 12,526 | 39,939 | 37,701 |
Provision (credit) for loan losses | (1,300) | |||
Net interest income after provision (credit) for loan losses | 13,680 | 12,526 | 39,939 | 39,001 |
Noninterest income | ||||
Service charges | 1,177 | 1,194 | 3,609 | 3,714 |
Net gain (loss) on sale of securities | (9) | 18 | (9) | 20 |
Net gain on sale of loans | 472 | 541 | 1,207 | 1,341 |
ATM fees | 567 | 541 | 1,643 | 1,584 |
Wealth management fees | 787 | 688 | 2,233 | 1,989 |
Bank owned life insurance | 142 | 149 | 429 | 415 |
Tax refund processing fees | 2,750 | 2,750 | ||
Other | 329 | 522 | 842 | 1,176 |
Total noninterest income | 3,465 | 3,653 | 12,704 | 12,989 |
Noninterest expense | ||||
Salaries, wages and benefits | 7,389 | 6,375 | 21,684 | 19,053 |
Net occupancy expense | 690 | 708 | 2,002 | 2,009 |
Equipment expense | 350 | 494 | 1,097 | 1,158 |
Contracted data processing | 357 | 397 | 1,174 | 1,147 |
FDIC assessment | 115 | 166 | 414 | 597 |
State franchise tax | 255 | 251 | 767 | 709 |
Professional services | 534 | 431 | 1,718 | 1,450 |
Amortization of intangible assets | 158 | 172 | 483 | 527 |
ATM expense | 233 | 183 | 700 | 379 |
Marketing | 240 | 249 | 768 | 810 |
Other operating expenses | 1,846 | 1,769 | 5,410 | 5,314 |
Total noninterest expense | 12,167 | 11,195 | 36,217 | 33,153 |
Income before taxes | 4,978 | 4,984 | 16,426 | 18,837 |
Income tax expense | 1,318 | 1,304 | 4,534 | 5,251 |
Net Income | 3,660 | 3,680 | 11,892 | 13,586 |
Preferred stock dividends | 308 | 374 | 935 | 1,156 |
Net income available to common shareholders | $ 3,352 | $ 3,306 | $ 10,957 | $ 12,430 |
Earnings per common share, basic | $ 0.33 | $ 0.41 | $ 1.12 | $ 1.57 |
Earnings per common share, diluted | $ 0.29 | $ 0.34 | $ 0.97 | $ 1.24 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 3,660 | $ 3,680 | $ 11,892 | $ 13,586 |
Other comprehensive income (loss): | ||||
Unrealized holding gains (losses) on available for sale securities | 86 | (1,225) | 1,993 | 2,273 |
Tax effect | (29) | 417 | (678) | (772) |
Pension liability adjustment | 426 | 83 | 946 | 249 |
Tax effect | (144) | (28) | (321) | (84) |
Total other comprehensive income (loss) | 339 | (753) | 1,940 | 1,666 |
Comprehensive income | $ 3,999 | $ 2,927 | $ 13,832 | $ 15,252 |
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 Loss [Member] |
Beginning balance at Dec. 31, 2015 | $ (495) | |||||
Net Income | $ 13,586 | |||||
Other comprehensive income | 1,666 | 1,666 | ||||
Ending balance at Sep. 30, 2016 | 1,171 | |||||
Beginning balance at Jun. 30, 2016 | 1,924 | |||||
Net Income | 3,680 | |||||
Other comprehensive income | (753) | (753) | ||||
Ending balance at Sep. 30, 2016 | 1,171 | |||||
Beginning balance at Dec. 31, 2016 | 137,616 | $ 18,950 | $ 118,975 | $ 19,263 | $ (17,235) | (2,337) |
Balance, shares at Dec. 31, 2016 | 20,481 | 8,343,509 | ||||
Net Income | 11,892 | 11,892 | ||||
Other comprehensive income | 1,940 | 1,940 | ||||
Conversion of Series B preferred shares to common shares | $ (1,393) | $ 1,393 | ||||
Conversion of Series B preferred shares to common shares, shares | (1,506) | 192,568 | ||||
Common stock issuance, net of costs | 32,821 | $ 32,821 | ||||
Common stock issuance, net of costs, shares | 1,610,000 | |||||
Stock-based compensation | 377 | $ 377 | ||||
Stock-based compensation, shares | 25,069 | |||||
Common stock dividends ($0.18 per share) | (1,726) | (1,726) | ||||
Preferred stock dividend | (935) | (935) | ||||
Retirement of common stock | (4) | $ (4) | ||||
Retirement of common stock, shares | (211) | |||||
Ending balance at Sep. 30, 2017 | 181,981 | $ 17,557 | $ 153,562 | 28,494 | (17,235) | (397) |
Balance, shares at Sep. 30, 2017 | 18,975 | 10,170,935 | ||||
Beginning balance at Jun. 30, 2017 | (736) | |||||
Net Income | 3,660 | |||||
Other comprehensive income | 339 | 339 | ||||
Ending balance at Sep. 30, 2017 | $ 181,981 | $ 17,557 | $ 153,562 | $ 28,494 | $ (17,235) | $ (397) |
Balance, shares at Sep. 30, 2017 | 18,975 | 10,170,935 |
Condensed Consolidated Stateme7
Condensed Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) | 9 Months Ended |
Sep. 30, 2017$ / shares | |
Retained Earnings [Member] | |
Common stock dividends per share | $ 0.18 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Statement Of Cash Flows [Abstract] | ||
Net cash from operating activities | $ 11,821 | $ 11,318 |
Cash flows used for investing activities: | ||
Maturities and calls of securities, available-for-sale | 23,529 | 23,264 |
Purchases of securities, available-for-sale | (57,005) | (31,130) |
Sale of securities available for sale | 953 | 4,379 |
Purchases of other securities | (192) | (474) |
Purchase of bank owned life insurance | (3,885) | |
Net loan originations | (86,678) | (43,285) |
Loans purchased, installment | (1,643) | |
Proceeds from sale of other real estate owned properties | 72 | 238 |
Proceeds from sale of premises and equipment | 139 | |
Premises and equipment purchases | (755) | (1,292) |
Net cash used for investing activities | (119,937) | (53,828) |
Cash flows from financing activities: | ||
Repayment of long-term FHLB advances | (2,500) | |
Net change in short-term FHLB advances | 10,750 | (36,200) |
Increase in deposits | 80,186 | 82,120 |
Decrease in securities sold under repurchase agreements | (13,777) | (3,327) |
Net proceeds from common stock issuance | 32,821 | |
Cash payment for retirement of common stock | (4) | |
Common dividends paid | (1,726) | (1,259) |
Preferred dividends paid | (935) | (1,156) |
Net cash provided by financing activities | 104,815 | 40,178 |
Decrease in cash and due from financial institutions | (3,301) | (2,332) |
Cash and due from financial institutions at beginning of period | 36,695 | 35,561 |
Cash and due from financial institutions at end of period | 33,394 | 33,229 |
Cash paid during the period for: | ||
Interest | 2,753 | 2,442 |
Income taxes | 4,300 | 4,700 |
Supplemental cash flow information: | ||
Transfer of loans from portfolio to other real estate owned | 78 | 73 |
Transfer of premises to held-for-sale | 3 | |
Transfer of loans held for sale to portfolio | 419 | |
Conversion of preferred shares to common shares | 1,393 | 2,497 |
Securities purchased not settled | $ 1,609 | |
Securities sold not settled | $ 2,386 |
Consolidated Financial Statemen
Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 and its results of operations and changes in cash flows for the periods ended September 30, 2017 and 2016 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 periods ended September 30, 2017 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 2016 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. The bank has two concentrations, one is to Lessors of Non-Residential Buildings and Dwellings totaling $284,218, or 24.8% of total loans, as of September 30, 2017 and the other is to Lessors of Residential Buildings and Dwellings totaling $155,616, or 13.6% of total loans, as of September 30, 2017. 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 Federal Funds sold and deposit accounts in other financial institutions that are in excess of federally insured limits. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | (2) Significant Accounting Policies Allowance for Loan Losses: The allowance for loan losses is regularly reviewed by management to determine that the amount is considered adequate to absorb probable losses in the loan portfolio. If not, an additional provision is made to increase the allowance. This evaluation includes specific loss estimates on certain individually reviewed impaired loans, the pooling of commercial credits risk graded as special mention and substandard that are not individually analyzed, and general loss estimates that are based upon the size, quality, and concentration characteristics of the various loan portfolios, adverse situations that may affect a borrower’s ability to repay, and current economic and industry conditions, among other items. Those judgments and assumptions that are most critical to the application of this accounting policy are assessing the initial and on-going credit-worthiness of the borrower, the amount and timing of future cash flows of the borrower that are available for repayment of the loan, the sufficiency of underlying collateral, the enforceability of third-party guarantees, the frequency and subjectivity of loan reviews and risk ratings, emerging or changing trends that might not be fully captured in the historical loss experience, and charges against the allowance for actual losses that are greater than previously estimated. These judgments and assumptions are dependent upon or can be influenced by a variety of factors, including the breadth and depth of experience of lending officers, credit administration and the corporate loan review staff that periodically review the status of the loan, changing economic and industry conditions, changes in the financial condition of the borrower and changes in the value and availability of the underlying collateral and guarantees. Pension Benefits: 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 June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment In March 2017, the FASB issued ASU 2017-07, Compensation—Retirement Benefits (Topic 715) In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718) In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), and Derivative and Hedging (Topic 815) Debt—Debt with Conversion and Other Options In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 850) In September 2017, the FASB issued ASU 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842 Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments. Revenue from Contracts with Customers Leases |
Securities
Securities | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | (3) Securities The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss were as follows: September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 30,972 $ 178 $ (87 ) $ 31,063 Obligations of states and political subdivisions 109,443 4,397 (225 ) 113,615 Mortgage-backed securities in government sponsored entities 83,486 793 (356 ) 83,923 Total debt securities 223,901 5,368 (668 ) 228,601 Equity securities in financial institutions 481 337 — 818 Total $ 224,382 $ 5,705 $ (668 ) $ 229,419 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 37,406 $ 117 $ (77 ) $ 37,446 Obligations of states and political subdivisions 92,177 3,395 (574 ) 94,998 Mortgage-backed securities in government sponsored entities 62,756 483 (597 ) 62,642 Total debt securities 192,339 3,995 (1,248 ) 195,086 Equity securities in financial institutions 481 297 — 778 Total $ 192,820 $ 4,292 $ (1,248 ) $ 195,864 The amortized cost and fair value of securities at September 30, 2017, 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 $ 5,099 $ 5,108 Due after one year through five years 30,106 30,180 Due after five years through ten years 33,441 35,104 Due after ten years 71,769 74,286 Mortgage-backed securities 83,486 83,923 Equity securities 481 818 Total securities available for sale $ 224,382 $ 229,419 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, 2017 2016 2017 2016 Sale proceeds $ 953 $ 2,385 $ 953 $ 4,379 Gross realized gains — 18 — 18 Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer (9 ) — (9 ) 2 Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $130,367 and $139,179 as of September 30, 2017 and December 31, 2016, respectively. Securities with unrealized losses at September 30, 2017 and December 31, 2016 not recognized in income are as follows: September 30, 2017 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 13,574 $ (48 ) $ 3,761 $ (39 ) $ 17,335 $ (87 ) Obligations of states and political subdivisions 4,960 (51 ) 5,462 (174 ) 10,422 (225 ) Mortgage-backed securities in gov’t sponsored entities 21,758 (108 ) 15,062 (248 ) 36,820 (356 ) Total temporarily impaired $ 40,292 $ (207 ) $ 24,285 $ (461 ) $ 64,577 $ (668 ) December 31, 2016 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 13,271 $ (61 ) $ 893 $ (16 ) $ 14,164 $ (77 ) Obligations of states and political subdivisions 17,167 (558 ) 519 (16 ) 17,686 (574 ) Mortgage-backed securities in gov’t sponsored entities 35,453 (566 ) 2,849 (31 ) 38,302 (597 ) Total temporarily impaired $ 65,891 $ (1,185 ) $ 4,261 $ (63 ) $ 70,152 $ (1,248 ) At September 30, 2017, there were fifty-eight 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, 2017 | |
Receivables [Abstract] | |
Loans | (4) Loans Loan balances were as follows: September 30, 2017 December 31, 2016 Commercial and agriculture $ 147,537 $ 135,462 Commercial real estate- owner occupied 167,678 161,364 Commercial real estate- non-owner occupied 424,430 395,931 Residential real estate 267,839 247,308 Real estate construction 77,978 56,293 Farm Real Estate 38,966 41,170 Consumer and other 17,564 17,978 Total loans 1,141,992 1,055,506 Allowance for loan losses (12,946 ) (13,305 ) Net loans $ 1,129,046 $ 1,042,201 Included in total loans above are deferred loan (fees) costs of $(80) at September 30, 2017 and $94 at December 31, 2016. |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2017 | |
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 economic 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 $12,946 adequate to cover loan losses inherent in the loan portfolio, at September 30, 2017. The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three and nine months ended September 30, 2017 and 2016. Allowance for loan losses: For the nine months ended September 30, 2017 September 30, 2017 Beginning Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,018 $ (11 ) $ 134 $ (530 ) $ 1,611 Commercial Real Estate: Owner Occupied 2,171 (301 ) 26 177 2,073 Non-Owner Occupied 4,606 (38 ) 42 663 5,273 Residential Real Estate 3,089 (312 ) 164 (462 ) 2,479 Real Estate Construction 420 — 32 215 667 Farm Real Estate 442 — 2 (20 ) 424 Consumer and Other 314 (135 ) 38 108 325 Unallocated 245 — — (151 ) 94 Total $ 13,305 $ (797 ) $ 438 $ — $ 12,946 For the nine months ended September 30, 2017, the allowance for Commercial & Agriculture loans was reduced by a decrease in general reserves as a result of lower loss rates. The result was represented as a decrease in the provision. The allowance for Commercial Real Estate – Owner Occupied loans was reduced by a decrease in general reserves and charge-offs. The allowance for Commercial Real Estate – Non-Owner Occupied loans increased due to an increase in general reserves required for this type as a result of higher loan balances. 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 higher outstanding loan balances for this type of loan. 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. The result was represented as a decrease in the provision. The allowance for Consumer and Other loans increased due to an increase in general reserves required for this type as a result of higher loss rates. 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, 2016 Beginning balance Charge-offs Recoveries Provision Ending Balance 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 0 337 Unallocated 382 — — (140 ) 242 Total $ 14,361 $ (1,539 ) $ 1,929 $ (1,300 ) $ 13,451 For the nine months ended September 30, 2016, the allowance for Commercial & Agriculture loans increased 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 three months ended September 30, 2017 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 1,608 $ (10 ) $ 51 $ (38 ) $ 1,611 Commercial Real Estate: Owner Occupied 2,010 (91 ) 8 146 2,073 Non-Owner Occupied 4,739 (38 ) 33 539 5,273 Residential Real Estate 2,676 (116 ) 77 (158 ) 2,479 Real Estate Construction 482 — 13 172 667 Farm Real Estate 425 — 2 (3 ) 424 Consumer and Other 324 (54 ) 24 31 325 Unallocated 783 — — (689 ) 94 Total $ 13,047 $ (309 ) $ 208 $ — $ 12,946 For the three months ended September 30, 2017, the allowance for Commercial & Agriculture loans increased due to an increase in general reserves as a result of higher loan balances, offset by net recoveries. The result was represented as a decrease in the provision. The allowance for Commercial Real Estate – Owner Occupied loans increased due to an increase in general reserves as a result of higher outstanding loan balances and loss rates. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Non-Owner Occupied loans increased due to an increase in general reserves required for this type as a result of higher loan balances and by higher loss rates. 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 higher outstanding loan balances for this type of loan and recoveries. 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 balance Charge-offs Recoveries Provision Ending Balance 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 allowance for Commercial & Agriculture loans increased 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. The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of September 30, 2017 and December 31, 2016. September 30, 2017 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ 81 $ 122 $ 1,408 $ 1,611 Commercial Real Estate: Owner Occupied — 4 2,069 2,073 Non-Owner Occupied — — 5,273 5,273 Residential Real Estate 52 114 2,313 2,479 Real Estate Construction — — 667 667 Farm Real Estate — 6 418 424 Consumer and Other — — 325 325 Unallocated — — 94 94 Total $ 133 $ 246 $ 12,567 $ 12,946 Outstanding loan balances: Commercial & Agriculture $ 89 $ 1,170 $ 146,278 $ 147,537 Commercial Real Estate: Owner Occupied — 1,039 166,639 167,678 Non-Owner Occupied — 50 424,380 424,430 Residential Real Estate 139 1,386 266,314 267,839 Real Estate Construction — — 77,978 77,978 Farm Real Estate — 613 38,353 38,966 Consumer and Other — — 17,564 17,564 Total $ 228 $ 4,258 $ 1,137,506 $ 1,141,992 December 31, 2016 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ 86 $ 82 $ 1,850 $ 2,018 Commercial Real Estate: Owner Occupied — 4 2,167 2,171 Non-Owner Occupied — — 4,606 4,606 Residential Real Estate 89 102 2,898 3,089 Real Estate Construction — — 420 420 Farm Real Estate — — 442 442 Consumer and Other — — 314 314 Unallocated — — 245 245 Total $ 175 $ 188 $ 12,942 $ 13,305 Outstanding loan balances: Commercial & Agriculture $ 88 $ 1,983 $ 133,391 $ 135,462 Commercial Real Estate: Owner Occupied — 1,896 159,468 161,364 Non-Owner Occupied — 359 395,572 395,931 Residential Real Estate 168 1,686 245,454 247,308 Real Estate Construction — — 56,293 56,293 Farm Real Estate — 614 40,556 41,170 Consumer and Other — 1 17,977 17,978 Total $ 256 $ 6,539 $ 1,048,711 $ 1,055,506 The following tables present credit exposures by internally assigned grades as of September 30, 2017 and December 31, 2016. 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, 2017 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 140,866 $ 4,697 $ 1,974 $ — $ 147,537 Commercial Real Estate: Owner Occupied 156,583 7,119 3,976 — 167,678 Non-Owner Occupied 421,452 2,174 804 — 424,430 Residential Real Estate 63,081 2,054 5,998 — 71,133 Real Estate Construction 73,581 15 27 — 73,623 Farm Real Estate 30,604 6,513 1,849 — 38,966 Consumer and Other 1,598 — 75 — 1,673 Total $ 887,765 $ 22,572 $ 14,703 $ — $ 925,040 December 31, 2016 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 127,867 $ 4,300 $ 3,295 $ — $ 135,462 Commercial Real Estate: Owner Occupied 151,659 4,016 5,689 — 161,364 Non-Owner Occupied 393,592 1,676 663 — 395,931 Residential Real Estate 59,015 1,661 6,911 — 67,587 Real Estate Construction 50,678 16 27 — 50,721 Farm Real Estate 31,814 5,673 3,683 — 41,170 Consumer and Other 2,135 — 109 — 2,244 Total $ 816,760 $ 17,342 $ 20,377 $ — $ 854,479 The following tables present performing and nonperforming loans based solely on payment activity for the periods ended September 30, 2017 and December 31, 2016 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 and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions due to economic status. 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. September 30, 2017 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 196,706 $ 4,355 $ 15,847 $ 216,908 Nonperforming — — 44 44 Total $ 196,706 $ 4,355 $ 15,891 $ 216,952 December 31, 2016 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 179,721 $ 5,572 $ 15,725 $ 201,018 Nonperforming — — 9 9 Total $ 179,721 $ 5,572 $ 15,734 $ 201,027 The following tables include an aging analysis of the recorded investment of past due loans outstanding as of September 30, 2017 and December 31, 2016. September 30, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 389 $ — $ 664 $ 1,053 $ 146,395 $ 89 $ 147,537 $ — Commercial Real Estate: Owner Occupied — 174 516 690 166,988 — 167,678 — Non-Owner Occupied 164 108 420 692 423,738 — 424,430 — Residential Real Estate 218 242 878 1,338 266,362 139 267,839 — Real Estate Construction — 68 27 95 77,883 — 77,978 — Farm Real Estate — — 193 193 38,773 — 38,966 — Consumer and Other 86 10 48 144 17,420 — 17,564 44 Total $ 857 $ 602 $ 2,746 $ 4,205 $ 1,137,559 $ 228 $ 1,141,992 $ 44 December 31, 2016 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 156 $ 20 $ 152 $ 328 $ 135,046 $ 88 $ 135,462 $ — Commercial Real Estate: Owner Occupied 722 553 280 1,555 159,809 — 161,364 — Non-Owner Occupied 147 — 316 463 395,468 — 395,931 — Residential Real Estate 1,812 507 1,049 3,368 243,772 168 247,308 — Real Estate Construction — — 27 27 56,266 — 56,293 — Farm Real Estate 93 — — 93 41,077 — 41,170 — Consumer and Other 215 31 31 277 17,701 — 17,978 9 Total $ 3,145 $ 1,111 $ 1,855 $ 6,111 $ 1,049,139 $ 256 $ 1,055,506 $ 9 The following table presents loans on nonaccrual status, excluding purchased credit-impaired (PCI) loans, as of September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 Commercial & Agriculture $ 1,889 $ 1,622 Commercial Real Estate: Owner Occupied 1,989 1,461 Non-Owner Occupied 566 464 Residential Real Estate 2,798 3,266 Real Estate Construction 27 27 Farm Real Estate 193 2 Consumer and Other 70 101 Total $ 7,532 $ 6,943 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, 2017, TDRs accounted for $298 of the allowance for loan losses. As of December 31, 2016, TDRs accounted for $278 of the allowance for loan losses. Loan modifications that are considered TDRs completed during the periods ended September 30, 2017 and September 30, 2016 were as follows: For the Nine-Month Period Ended September 30, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate—Owner Occupied — — — Commercial Real Estate—Non-Owner Occupied — — — Residential Real Estate 1 13 13 Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 13 $ 13 For the Nine-Month Period Ended September 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment 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 Three-Month Period Ended September 30, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment 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 — $ — $ — For the Three-Month Period Ended September 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment 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 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, 2017 and September 30, 2016, there were no defaults on loans that were modified and considered TDRs during the respective twelve previous months. Impaired Loans: The following table includes the recorded investment and unpaid principal balances for impaired financing receivables, excluding PCI loans, with the associated allowance amount, if applicable, as of September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial & Agriculture $ — $ — $ 1,230 $ 1,751 Commercial Real Estate: Owner Occupied 814 1,069 1,658 1,803 Non-Owner Occupied 50 53 359 386 Residential Real Estate 996 1,068 1,259 1,590 Farm Real Estate 149 149 614 614 Consumer and Other — — 1 1 Total 2,009 2,339 5,121 6,145 With an allowance recorded: Commercial & Agriculture 1,170 1,720 $ 122 753 1,303 $ 82 Commercial Real Estate: Owner Occupied 225 225 4 238 238 4 Non-Owner Occupied — — — — — — Residential Real Estate 390 394 114 427 431 102 Farm Real Estate 464 464 6 — — — Total 2,249 2,803 246 1,418 1,972 188 Total: Commercial & Agriculture 1,170 1,720 122 1,983 3,054 82 Commercial Real Estate: Owner Occupied 1,039 1,294 4 1,896 2,041 4 Non-Owner Occupied 50 53 — 359 386 — Residential Real Estate 1,386 1,462 114 1,686 2,021 102 Farm Real Estate 613 613 6 614 614 — Consumer and Other — — — 1 1 — Total $ 4,258 $ 5,142 $ 246 $ 6,539 $ 8,117 $ 188 The following table includes the average recorded investment and interest income recognized for impaired financing receivables for the three- and nine-month periods ended September 30, 2017 and 2016. September 30, 2017 September 30, 2016 For the nine months ended: Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 1,609 $ 27 $ 1,453 $ 19 Commercial Real Estate—Owner Occupied 1,632 66 1,954 66 Commercial Real Estate—Non-Owner Occupied 280 5 1,519 858 Residential Real Estate 1,554 56 1,699 60 Real Estate Construction — — 473 — Farm Real Estate 614 21 1,123 17 Consumer and Other — — 2 — Total $ 5,689 $ 175 $ 8,223 $ 1,020 September 30, 2017 September 30, 2016 For the three months ended: Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 1,366 $ 7 $ 2,401 $ 8 Commercial Real Estate—Owner Occupied 1,377 18 1,774 21 Commercial Real Estate—Non-Owner Occupied 202 2 556 1 Residential Real Estate 1,437 17 1,873 21 Real Estate Construction — — — — Farm Real Estate 614 8 1,032 7 Consumer and Other — — 2 — Total $ 4,996 $ 52 $ 7,638 $ 58 Changes in the amortizable yield for PCI loans were as follows, since acquisition: For the Nine-Month Period Ended September 30, 2017 For the Nine-Month Period Ended September 30, 2016 (In Thousands) (In Thousands) Balance at beginning of period $ 49 $ 82 Acquisition of PCI loans — — Accretion (27 ) (24 ) Balance at end of period $ 22 $ 58 For the Three-Month Period Ended September 30, 2017 For the Three-Month Period Ended September 30, 2016 (In Thousands) (In Thousands) Balance at beginning of period $ 31 $ 66 Acquisition of PCI loans — — Accretion (9 ) (8 ) Balance at end of period $ 22 $ 58 The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At September 30, 2017 At December 31, 2016 Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) (In Thousands) Outstanding balance $ 795 $ 850 Carrying amount 228 256 There has been $133 and $175 in allowance for loan losses recorded for acquired loans with or without specific evidence of deterioration in credit quality as of September 30, 2017 and December 31, 2016, 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, 2017 and December 31, 2016, a total of $27 and $37, respectively of foreclosed assets were included with other assets. As of September 30, 2017, included within the foreclosed assets is $27 of consumer residential mortgages that were foreclosed on or received via a deed in lieu transaction prior to the period end. As of September 30, 2017 and December 31, 2016, the Company had initiated formal foreclosure procedures on $251 and $710, respectively, of consumer residential mortgages. |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 (a) September 30, 2016 (a) Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Beginning balance $ 2,008 $ (4,345 ) $ (2,337 ) $ 3,554 $ (4,049 ) $ (495 ) Other comprehensive income before reclassifications 1,309 — 1,309 1,514 — 1,514 Amounts reclassified from accumulated other comprehensive loss 6 625 631 (13 ) 165 152 Net current-period other comprehensive income 1,315 625 1,940 1,501 165 1,666 Ending balance $ 3,323 $ (3,720 ) $ (397 ) $ 5,055 $ (3,884 ) $ 1,171 (a) 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 Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive (Loss) Components For the nine months ended September 30, 2017 For the nine months ended September 30, 2016 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (9 ) $ 20 Net gain (loss) on securities available for sale Tax effect 3 (7 ) Income tax expense (6 ) 13 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (b) (946 ) (249 ) Salaries, wages and benefits Tax effect 321 84 Income tax expense (625 ) (165 ) Net of tax Total reclassifications for the period $ (631 ) $ (152 ) Net of tax (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. For the Three-Month Period Ended For the Three-Month Period Ended September 30, 2017 (a) September 30, 2016 (a) Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Beginning balance $ 3,266 $ (4,002 ) $ (736 ) $ 5,863 $ (3,939 ) $ 1,924 Other comprehensive income before reclassifications 51 — 51 (796 ) — (796 ) Amounts reclassified from accumulated other comprehensive loss 6 282 288 (12 ) 55 43 Net current-period other comprehensive income 57 282 339 (808 ) 55 (753 ) Ending balance $ 3,323 $ (3,720 ) $ (397 ) $ 5,055 $ (3,884 ) $ 1,171 (a) 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 Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive (Loss) Components For the three months ended September 30, 2017 For the three months ended September 30, 2016 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (9 ) $ 18 Net gain (loss) on securities available for sale Tax effect 3 (6 ) Income tax expense (6 ) 12 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (b) (426 ) (83 ) Salaries, wages and benefits Tax effect 144 28 Income tax expense (282 ) (55 ) Net of tax Total reclassifications for the period $ (288 ) $ (43 ) Net of tax (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (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, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | (7) Goodwill and Intangible Assets The balance of goodwill was $27,095 at September 30, 2017 and December 31, 2016. 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 2016 and concluded that the Company’s goodwill was not impaired at December 31, 2016. There was no change in the carrying amount of goodwill for the periods ended September 30, 2017 and December 31, 2016. Acquired intangible assets, other than goodwill, as of September 30, 2017 and December 31, 2016 were as follows: 2017 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets(1): MSRs $ 1,022 $ 302 $ 720 $ 912 $ 250 $ 662 Core deposit intangibles 7,274 6,634 640 7,274 6,152 1,122 Total amortized intangible assets $ 8,296 $ 6,936 $ 1,360 $ 8,186 $ 6,402 $ 1,784 (1) Excludes fully amortized intangible assets Aggregate core deposit intangible amortization expense was $158, $172, $483 and $527 for the three and nine-months ended September 30, 2017 and 2016, respectively. Aggregate mortgage servicing rights amortization was $23, $30, $51 and $45 for the three and nine-months ended September 30, 2017 and 2016, respectively. Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit intangibles Total 2017 $ 30 $ 104 $ 134 2018 40 111 151 2019 40 88 128 2020 40 72 112 2021 40 68 108 Thereafter 530 197 727 $ 720 $ 640 $ 1,360 |
Short-Term Borrowings
Short-Term Borrowings | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | (8) Short-Term Borrowings Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are included in Federal Home Loan Bank advances on the Consolidated Balance Sheets and are summarized as follows: At September 30, 2017 At December 31, 2016 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance $ — $ 41,750 $ — $ 31,000 Maximum indebtedness 22,500 115,050 20,000 70,400 Average balance 156 42,102 116 10,483 Average rate paid 1.71 % 1.08 % 0.86 % 0.42 % Interest rate on balance — 1.17 % — 0.64 % Average balance during the period 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, 2017 and December 31, 2016. 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, 2017 and December 31, 2016. All of the repurchase agreements are overnight agreements. September 30, 2017 December 31, 2016 Securities pledged for repurchase agreements: U.S. Treasury securities $ 742 $ 1,761 Obligations of U.S. government agencies 14,406 27,164 Total securities pledged $ 15,148 $ 28,925 Gross amount of recognized liabilities for repurchase agreements $ 15,148 $ 28,925 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Earnings per Common Share
Earnings per Common Share | 9 Months Ended |
Sep. 30, 2017 | |
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 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 September 30, September 30, 2017 2016 2017 2016 Basic Net income $ 3,660 $ 3,680 $ 11,892 $ 13,586 Preferred stock dividends 308 374 935 1,156 Net income available to common shareholders—basic $ 3,352 $ 3,306 $ 10,957 $ 12,430 Weighted average common shares outstanding—basic 10,170,734 8,042,303 9,815,118 7,922,170 Basic earnings per common share $ 0.33 $ 0.41 $ 1.12 $ 1.57 Diluted Net income available to common shareholders—basic $ 3,352 $ 3,306 $ 10,957 $ 12,430 Preferred stock dividends 308 374 935 1,156 Net income available to common shareholders—diluted $ 3,660 $ 3,680 $ 11,892 $ 13,586 Weighted average common shares outstanding for basic earnings per common share 10,170,734 8,042,303 9,815,118 7,922,170 Add: Dilutive effects of convertible preferred shares 2,426,565 2,922,609 2,455,008 3,024,712 Average shares and dilutive potential common shares outstanding—diluted 12,597,299 10,964,912 12,270,126 10,946,882 Diluted earnings per common share $ 0.29 $ 0.34 $ 0.97 $ 1.24 For the three-month period ended September 30, 2017 there were 2,426,565 dilutive shares related to the Company’s convertible preferred stock. For the nine-month period ended September 30, 2017 there were 2,455,008 dilutive shares related to the Company’s convertible preferred stock. 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. 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, 2017 | |
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, 2017 and December 31, 2016: Contract Amount September 30, 2017 December 31, 2016 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitment to extend credit: Lines of credit and construction loans $ 8,042 $ 271,718 $ 6,905 $ 202,923 Overdraft protection 6 32,223 5 29,075 Letters of credit 624 317 600 349 $ 8,672 $ 304,258 $ 7,510 $ 232,347 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 8.00% at September 30, 2017 and from 3.25% to 8.75% at December 31, 2016. 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 $5,223 on September 30, 2017 and $2,887 on December 31, 2016. |
Pension Information
Pension Information | 9 Months Ended |
Sep. 30, 2017 | |
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 September 30, September 30, 2017 2016 2017 2016 Service cost $ — $ — $ — $ — Interest cost 171 170 509 509 Expected return on plan assets (283 ) (274 ) (844 ) (821 ) Other components 426 83 946 249 Net periodic pension benefit $ 314 $ (21 ) $ 611 $ (63 ) The total amount of pension contributions expected to be paid by the Company in 2017 is $2,000. The Company contributed $500 in 2016. |
Equity Incentive Plan
Equity Incentive Plan | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Of Compensation Related Costs Sharebased 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 292,209 shares available for future grants under this plan at September 30, 2017. During each of the last three 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 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 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. On May 16, 2017, 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 6,804 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 2018 Annual Meeting. This issuance was expensed in its entirety when the shares were issued in the amount of $144. Finally, on September 11, 2017, a newly appointed director of the Company’s banking subsidiary, Civista, was paid a retainer in the form of non-restricted common shares of the Company. The aggregate of 367 common shares was issued as payment of her retainer for her service on the Civista Board of Directors covering the period up to the 2018 Annual Meeting. This issuance was expensed in its entirety when the shares were issued in the amount of $8. No options had been granted under the 2014 Incentive Plan as of September 30, 2017 and 2016. 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 an operating cash flow. The following is a summary of the status of the Company’s restricted shares and changes therein for the three- and nine-month periods ended September 30, 2017: Three months ended Nine months ended September 30, 2017 September 30, 2017 Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 42,138 $ 15.60 37,050 $ 10.77 Granted — — 17,898 22.15 Vested — — (12,810 ) 10.76 Forfeited — — — — Nonvested at September 30, 2017 42,138 $ 15.60 42,138 $ 15.60 The following is a summary of the status of the Company’s awarded restricted shares as of September 30, 2017: At September 30, 2017 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) March 17, 2015 16,699 $ 9 0.25 March 11, 2016 15,748 41 1.25 March 20, 2017 11,713 126 2.25 January 15, 2016 10,260 72 3.25 March 20, 2017 6,185 119 4.25 60,605 $ 367 2.93 During the nine months ended September 30, 2017, the Company recorded $225 of share-based compensation expense and $152 of director retainer fees for shares granted under the 2014 Incentive Plan. At September 30, 2017, the total compensation cost related to unvested awards not yet recognized is $367, which is expected to be recognized over the weighted average remaining life of the grants of 2.93 years. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2017 | |
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: The fair value of the swap asset/liability: Impaired loans: Other real estate owned: Assets measured at fair value are summarized below. Fair Value Measurements at September 30, 2017 Using: Assets: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 31,063 $ — Obligations of states and political subdivisions — 113,615 — Mortgage-backed securities in government sponsored entities — 83,923 — Equity securities in financial institutions — 818 — Swap asset — 1,706 — Liabilities measured at fair value on a recurring basis: Swap liability — 1,706 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 1,639 Other real estate owned — — 27 Fair Value Measurements at December 31, 2016 Using: Assets: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 37,446 $ — Obligations of states and political subdivisions — 94,998 — Mortgage-backed securities in government sponsored entities — 62,642 — Equity securities in financial institutions — 778 — Swap asset — 1,839 — Liabilities measured at fair value on a recurring basis: Swap liability — 1,839 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 952 Other real estate owned — — 37 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, 2017. Quantitative Information about Level 3 Fair Value Measurements September 30, 2017 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1,639 Appraisal of collateral Appraisal adjustments 10% - 48% 34% Liquidation expense 0% - 10% 4% Holding period 0 - 30 months 20 months Other real estate owned $ 27 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, 2016. Quantitative Information about Level 3 Fair Value Measurements December 31, 2016 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 952 Appraisal of collateral Appraisal adjustments 10% - 67% 64% Liquidation expense 0% - 10% 4% Holding period 0 - 30 months 19 months Other real estate owned $ 37 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, 2017 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 33,394 $ 33,394 $ 33,394 $ — $ — Securities available for sale 229,419 229,419 — 229,419 — Other securities 14,247 14,247 14,247 — — Loans, held for sale 4,662 4,662 4,662 — — Loans, net of allowance for loan losses 1,129,046 1,130,083 — — 1,130,083 Bank owned life insurance 24,981 24,981 24,981 — — Accrued interest receivable 4,999 4,999 4,999 — — Swap asset 1,706 1,706 — 1,706 — Financial Liabilities: Nonmaturing deposits 947,262 947,262 947,262 — — Time deposits 254,027 254,017 — — 254,017 Short-term FHLB advances 41,750 41,722 41,722 — — Long-term FHLB advances 15,000 14,966 — — 14,966 Securities sold under agreement to repurchase 15,148 15,148 15,148 — — Subordinated debentures 29,427 29,470 — — 29,470 Accrued interest payable 244 244 244 — — Swap liability 1,706 1,706 — 1,706 — December 31, 2016 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 36,695 $ 36,695 $ 36,695 $ — $ — Securities available for sale 195,864 195,864 — 195,864 — Loans, held for sale 2,268 2,268 2,268 — — Loans, net of allowance for loan losses 1,042,201 1,047,329 — — 1,047,329 Other securities 14,055 14,055 14,055 — — Bank owned life insurance 24,552 24,552 24,552 — — Accrued interest receivable 3,854 3,854 3,854 — — Swap asset 1,839 1,839 — 1,839 — Financial Liabilities: Nonmaturing deposits 913,677 913,677 913,677 — — Time deposits 207,426 207,784 — — 207,784 Short-term FHLB advances 31,000 31,007 31,007 — — Long-term FHLB advances 17,500 17,553 — — 17,553 Securities sold under agreement to repurchase 28,925 28,925 28,925 — — Subordinated debentures 29,427 27,414 — — 27,414 Accrued interest payable 181 181 181 — — Swap liability 1,839 1,839 — 1,839 — 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 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, 2017 | |
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, 2017. Notional Amount Weighted Average Rate Received/(Paid) Impact of a 1 basis point change in interest rates Repricing Frequency Derivative Assets $ 60,711 5.09 % $ 35 Monthly Derivative Liabilities (60,711 ) -5.09 % (35 ) 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, 2016. Notional Amount Weighted Average Rate Received/(Paid) Impact of a 1 basis point change in interest rates Repricing Frequency Derivative Assets $ 52,975 5.07 % $ 30 Monthly Derivative Liabilities (52,975 ) -5.07 % (30 ) 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, 2017 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | (15) Qualified Affordable Housing Project Investments The Company invests in certain qualified affordable housing projects. At September 30, 2017 and December 31, 2016, the balance of the investment for qualified affordable housing projects was $3,079 and $2,754, 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 $4,741 and $2,313 at September 30, 2017 and December 31, 2016, respectively. During the nine months ended September 30, 2017 and 2016, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $247 and $231, offset by tax credits and other benefits from its investment in affordable housing tax credits of $414 and $442, respectively. During the quarters ended September 30, 2017 and 2016, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $82 and $77, offset by tax credits and other benefits from its investment in affordable housing tax credits of $138 and $147, respectively. During the three and nine months ended September 30, 2017 and 2016, 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, 2017 | |
Accounting Policies [Abstract] | |
Allowance for Loan Losses | Allowance for Loan Losses: The allowance for loan losses is regularly reviewed by management to determine that the amount is considered adequate to absorb probable losses in the loan portfolio. If not, an additional provision is made to increase the allowance. This evaluation includes specific loss estimates on certain individually reviewed impaired loans, the pooling of commercial credits risk graded as special mention and substandard that are not individually analyzed, and general loss estimates that are based upon the size, quality, and concentration characteristics of the various loan portfolios, adverse situations that may affect a borrower’s ability to repay, and current economic and industry conditions, among other items. Those judgments and assumptions that are most critical to the application of this accounting policy are assessing the initial and on-going credit-worthiness of the borrower, the amount and timing of future cash flows of the borrower that are available for repayment of the loan, the sufficiency of underlying collateral, the enforceability of third-party guarantees, the frequency and subjectivity of loan reviews and risk ratings, emerging or changing trends that might not be fully captured in the historical loss experience, and charges against the allowance for actual losses that are greater than previously estimated. These judgments and assumptions are dependent upon or can be influenced by a variety of factors, including the breadth and depth of experience of lending officers, credit administration and the corporate loan review staff that periodically review the status of the loan, changing economic and industry conditions, changes in the financial condition of the borrower and changes in the value and availability of the underlying collateral and guarantees. |
Pension Benefits | Pension Benefits: |
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 June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment In March 2017, the FASB issued ASU 2017-07, Compensation—Retirement Benefits (Topic 715) In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718) In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), and Derivative and Hedging (Topic 815) Debt—Debt with Conversion and Other Options In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 850) In September 2017, the FASB issued ASU 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842 Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments. Revenue from Contracts with Customers Leases |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Available for Sale Securities | The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss were as follows: September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 30,972 $ 178 $ (87 ) $ 31,063 Obligations of states and political subdivisions 109,443 4,397 (225 ) 113,615 Mortgage-backed securities in government sponsored entities 83,486 793 (356 ) 83,923 Total debt securities 223,901 5,368 (668 ) 228,601 Equity securities in financial institutions 481 337 — 818 Total $ 224,382 $ 5,705 $ (668 ) $ 229,419 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 37,406 $ 117 $ (77 ) $ 37,446 Obligations of states and political subdivisions 92,177 3,395 (574 ) 94,998 Mortgage-backed securities in government sponsored entities 62,756 483 (597 ) 62,642 Total debt securities 192,339 3,995 (1,248 ) 195,086 Equity securities in financial institutions 481 297 — 778 Total $ 192,820 $ 4,292 $ (1,248 ) $ 195,864 |
Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities at September 30, 2017, 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 $ 5,099 $ 5,108 Due after one year through five years 30,106 30,180 Due after five years through ten years 33,441 35,104 Due after ten years 71,769 74,286 Mortgage-backed securities 83,486 83,923 Equity securities 481 818 Total securities available for sale $ 224,382 $ 229,419 |
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, 2017 2016 2017 2016 Sale proceeds $ 953 $ 2,385 $ 953 $ 4,379 Gross realized gains — 18 — 18 Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer (9 ) — (9 ) 2 |
Securities with Unrealized Losses Not Recognized in Income | Securities with unrealized losses at September 30, 2017 and December 31, 2016 not recognized in income are as follows: September 30, 2017 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 13,574 $ (48 ) $ 3,761 $ (39 ) $ 17,335 $ (87 ) Obligations of states and political subdivisions 4,960 (51 ) 5,462 (174 ) 10,422 (225 ) Mortgage-backed securities in gov’t sponsored entities 21,758 (108 ) 15,062 (248 ) 36,820 (356 ) Total temporarily impaired $ 40,292 $ (207 ) $ 24,285 $ (461 ) $ 64,577 $ (668 ) December 31, 2016 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 13,271 $ (61 ) $ 893 $ (16 ) $ 14,164 $ (77 ) Obligations of states and political subdivisions 17,167 (558 ) 519 (16 ) 17,686 (574 ) Mortgage-backed securities in gov’t sponsored entities 35,453 (566 ) 2,849 (31 ) 38,302 (597 ) Total temporarily impaired $ 65,891 $ (1,185 ) $ 4,261 $ (63 ) $ 70,152 $ (1,248 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Loan Balances | Loan balances were as follows: September 30, 2017 December 31, 2016 Commercial and agriculture $ 147,537 $ 135,462 Commercial real estate- owner occupied 167,678 161,364 Commercial real estate- non-owner occupied 424,430 395,931 Residential real estate 267,839 247,308 Real estate construction 77,978 56,293 Farm Real Estate 38,966 41,170 Consumer and other 17,564 17,978 Total loans 1,141,992 1,055,506 Allowance for loan losses (12,946 ) (13,305 ) Net loans $ 1,129,046 $ 1,042,201 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Changes in the Allowance for Loan Losses | The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three and nine months ended September 30, 2017 and 2016. Allowance for loan losses: For the nine months ended September 30, 2017 September 30, 2017 Beginning Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,018 $ (11 ) $ 134 $ (530 ) $ 1,611 Commercial Real Estate: Owner Occupied 2,171 (301 ) 26 177 2,073 Non-Owner Occupied 4,606 (38 ) 42 663 5,273 Residential Real Estate 3,089 (312 ) 164 (462 ) 2,479 Real Estate Construction 420 — 32 215 667 Farm Real Estate 442 — 2 (20 ) 424 Consumer and Other 314 (135 ) 38 108 325 Unallocated 245 — — (151 ) 94 Total $ 13,305 $ (797 ) $ 438 $ — $ 12,946 Allowance for loan losses: For the nine months ended September 30, 2016 Beginning balance Charge-offs Recoveries Provision Ending Balance 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 0 337 Unallocated 382 — — (140 ) 242 Total $ 14,361 $ (1,539 ) $ 1,929 $ (1,300 ) $ 13,451 Allowance for loan losses: For the three months ended September 30, 2017 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 1,608 $ (10 ) $ 51 $ (38 ) $ 1,611 Commercial Real Estate: Owner Occupied 2,010 (91 ) 8 146 2,073 Non-Owner Occupied 4,739 (38 ) 33 539 5,273 Residential Real Estate 2,676 (116 ) 77 (158 ) 2,479 Real Estate Construction 482 — 13 172 667 Farm Real Estate 425 — 2 (3 ) 424 Consumer and Other 324 (54 ) 24 31 325 Unallocated 783 — — (689 ) 94 Total $ 13,047 $ (309 ) $ 208 $ — $ 12,946 Allowance for loan losses: For the three months ended September 30, 2016 Beginning balance Charge-offs Recoveries Provision Ending Balance 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 September 30, 2017 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ 81 $ 122 $ 1,408 $ 1,611 Commercial Real Estate: Owner Occupied — 4 2,069 2,073 Non-Owner Occupied — — 5,273 5,273 Residential Real Estate 52 114 2,313 2,479 Real Estate Construction — — 667 667 Farm Real Estate — 6 418 424 Consumer and Other — — 325 325 Unallocated — — 94 94 Total $ 133 $ 246 $ 12,567 $ 12,946 Outstanding loan balances: Commercial & Agriculture $ 89 $ 1,170 $ 146,278 $ 147,537 Commercial Real Estate: Owner Occupied — 1,039 166,639 167,678 Non-Owner Occupied — 50 424,380 424,430 Residential Real Estate 139 1,386 266,314 267,839 Real Estate Construction — — 77,978 77,978 Farm Real Estate — 613 38,353 38,966 Consumer and Other — — 17,564 17,564 Total $ 228 $ 4,258 $ 1,137,506 $ 1,141,992 December 31, 2016 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ 86 $ 82 $ 1,850 $ 2,018 Commercial Real Estate: Owner Occupied — 4 2,167 2,171 Non-Owner Occupied — — 4,606 4,606 Residential Real Estate 89 102 2,898 3,089 Real Estate Construction — — 420 420 Farm Real Estate — — 442 442 Consumer and Other — — 314 314 Unallocated — — 245 245 Total $ 175 $ 188 $ 12,942 $ 13,305 Outstanding loan balances: Commercial & Agriculture $ 88 $ 1,983 $ 133,391 $ 135,462 Commercial Real Estate: Owner Occupied — 1,896 159,468 161,364 Non-Owner Occupied — 359 395,572 395,931 Residential Real Estate 168 1,686 245,454 247,308 Real Estate Construction — — 56,293 56,293 Farm Real Estate — 614 40,556 41,170 Consumer and Other — 1 17,977 17,978 Total $ 256 $ 6,539 $ 1,048,711 $ 1,055,506 |
Credit Exposures by Internally Assigned Grades | September 30, 2017 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 140,866 $ 4,697 $ 1,974 $ — $ 147,537 Commercial Real Estate: Owner Occupied 156,583 7,119 3,976 — 167,678 Non-Owner Occupied 421,452 2,174 804 — 424,430 Residential Real Estate 63,081 2,054 5,998 — 71,133 Real Estate Construction 73,581 15 27 — 73,623 Farm Real Estate 30,604 6,513 1,849 — 38,966 Consumer and Other 1,598 — 75 — 1,673 Total $ 887,765 $ 22,572 $ 14,703 $ — $ 925,040 December 31, 2016 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 127,867 $ 4,300 $ 3,295 $ — $ 135,462 Commercial Real Estate: Owner Occupied 151,659 4,016 5,689 — 161,364 Non-Owner Occupied 393,592 1,676 663 — 395,931 Residential Real Estate 59,015 1,661 6,911 — 67,587 Real Estate Construction 50,678 16 27 — 50,721 Farm Real Estate 31,814 5,673 3,683 — 41,170 Consumer and Other 2,135 — 109 — 2,244 Total $ 816,760 $ 17,342 $ 20,377 $ — $ 854,479 |
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. September 30, 2017 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 196,706 $ 4,355 $ 15,847 $ 216,908 Nonperforming — — 44 44 Total $ 196,706 $ 4,355 $ 15,891 $ 216,952 December 31, 2016 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 179,721 $ 5,572 $ 15,725 $ 201,018 Nonperforming — — 9 9 Total $ 179,721 $ 5,572 $ 15,734 $ 201,027 |
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, 2017 and December 31, 2016. September 30, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 389 $ — $ 664 $ 1,053 $ 146,395 $ 89 $ 147,537 $ — Commercial Real Estate: Owner Occupied — 174 516 690 166,988 — 167,678 — Non-Owner Occupied 164 108 420 692 423,738 — 424,430 — Residential Real Estate 218 242 878 1,338 266,362 139 267,839 — Real Estate Construction — 68 27 95 77,883 — 77,978 — Farm Real Estate — — 193 193 38,773 — 38,966 — Consumer and Other 86 10 48 144 17,420 — 17,564 44 Total $ 857 $ 602 $ 2,746 $ 4,205 $ 1,137,559 $ 228 $ 1,141,992 $ 44 December 31, 2016 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 156 $ 20 $ 152 $ 328 $ 135,046 $ 88 $ 135,462 $ — Commercial Real Estate: Owner Occupied 722 553 280 1,555 159,809 — 161,364 — Non-Owner Occupied 147 — 316 463 395,468 — 395,931 — Residential Real Estate 1,812 507 1,049 3,368 243,772 168 247,308 — Real Estate Construction — — 27 27 56,266 — 56,293 — Farm Real Estate 93 — — 93 41,077 — 41,170 — Consumer and Other 215 31 31 277 17,701 — 17,978 9 Total $ 3,145 $ 1,111 $ 1,855 $ 6,111 $ 1,049,139 $ 256 $ 1,055,506 $ 9 |
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, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 Commercial & Agriculture $ 1,889 $ 1,622 Commercial Real Estate: Owner Occupied 1,989 1,461 Non-Owner Occupied 566 464 Residential Real Estate 2,798 3,266 Real Estate Construction 27 27 Farm Real Estate 193 2 Consumer and Other 70 101 Total $ 7,532 $ 6,943 |
Schedule of Troubled Debt Restructurings | Loan modifications that are considered TDRs completed during the periods ended September 30, 2017 and September 30, 2016 were as follows: For the Nine-Month Period Ended September 30, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate—Owner Occupied — — — Commercial Real Estate—Non-Owner Occupied — — — Residential Real Estate 1 13 13 Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 13 $ 13 For the Nine-Month Period Ended September 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment 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 Three-Month Period Ended September 30, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment 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 — $ — $ — For the Three-Month Period Ended September 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment 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 |
Impaired Financing Receivables Excluding PCI Loans | The following table includes the recorded investment and unpaid principal balances for impaired financing receivables, excluding PCI loans, with the associated allowance amount, if applicable, as of September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial & Agriculture $ — $ — $ 1,230 $ 1,751 Commercial Real Estate: Owner Occupied 814 1,069 1,658 1,803 Non-Owner Occupied 50 53 359 386 Residential Real Estate 996 1,068 1,259 1,590 Farm Real Estate 149 149 614 614 Consumer and Other — — 1 1 Total 2,009 2,339 5,121 6,145 With an allowance recorded: Commercial & Agriculture 1,170 1,720 $ 122 753 1,303 $ 82 Commercial Real Estate: Owner Occupied 225 225 4 238 238 4 Non-Owner Occupied — — — — — — Residential Real Estate 390 394 114 427 431 102 Farm Real Estate 464 464 6 — — — Total 2,249 2,803 246 1,418 1,972 188 Total: Commercial & Agriculture 1,170 1,720 122 1,983 3,054 82 Commercial Real Estate: Owner Occupied 1,039 1,294 4 1,896 2,041 4 Non-Owner Occupied 50 53 — 359 386 — Residential Real Estate 1,386 1,462 114 1,686 2,021 102 Farm Real Estate 613 613 6 614 614 — Consumer and Other — — — 1 1 — Total $ 4,258 $ 5,142 $ 246 $ 6,539 $ 8,117 $ 188 The following table includes the average recorded investment and interest income recognized for impaired financing receivables for the three- and nine-month periods ended September 30, 2017 and 2016. September 30, 2017 September 30, 2016 For the nine months ended: Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 1,609 $ 27 $ 1,453 $ 19 Commercial Real Estate—Owner Occupied 1,632 66 1,954 66 Commercial Real Estate—Non-Owner Occupied 280 5 1,519 858 Residential Real Estate 1,554 56 1,699 60 Real Estate Construction — — 473 — Farm Real Estate 614 21 1,123 17 Consumer and Other — — 2 — Total $ 5,689 $ 175 $ 8,223 $ 1,020 September 30, 2017 September 30, 2016 For the three months ended: Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 1,366 $ 7 $ 2,401 $ 8 Commercial Real Estate—Owner Occupied 1,377 18 1,774 21 Commercial Real Estate—Non-Owner Occupied 202 2 556 1 Residential Real Estate 1,437 17 1,873 21 Real Estate Construction — — — — Farm Real Estate 614 8 1,032 7 Consumer and Other — — 2 — Total $ 4,996 $ 52 $ 7,638 $ 58 |
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 Period Ended September 30, 2017 For the Nine-Month Period Ended September 30, 2016 (In Thousands) (In Thousands) Balance at beginning of period $ 49 $ 82 Acquisition of PCI loans — — Accretion (27 ) (24 ) Balance at end of period $ 22 $ 58 For the Three-Month Period Ended September 30, 2017 For the Three-Month Period Ended September 30, 2016 (In Thousands) (In Thousands) Balance at beginning of period $ 31 $ 66 Acquisition of PCI loans — — Accretion (9 ) (8 ) Balance at end of period $ 22 $ 58 |
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, 2017 At December 31, 2016 Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) (In Thousands) Outstanding balance $ 795 $ 850 Carrying amount 228 256 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 (a) September 30, 2016 (a) Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Beginning balance $ 2,008 $ (4,345 ) $ (2,337 ) $ 3,554 $ (4,049 ) $ (495 ) Other comprehensive income before reclassifications 1,309 — 1,309 1,514 — 1,514 Amounts reclassified from accumulated other comprehensive loss 6 625 631 (13 ) 165 152 Net current-period other comprehensive income 1,315 625 1,940 1,501 165 1,666 Ending balance $ 3,323 $ (3,720 ) $ (397 ) $ 5,055 $ (3,884 ) $ 1,171 For the Three-Month Period Ended For the Three-Month Period Ended September 30, 2017 (a) September 30, 2016 (a) Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available-for- Sale Securities Defined Benefit Pension Items Total Beginning balance $ 3,266 $ (4,002 ) $ (736 ) $ 5,863 $ (3,939 ) $ 1,924 Other comprehensive income before reclassifications 51 — 51 (796 ) — (796 ) Amounts reclassified from accumulated other comprehensive loss 6 282 288 (12 ) 55 43 Net current-period other comprehensive income 57 282 339 (808 ) 55 (753 ) Ending balance $ 3,323 $ (3,720 ) $ (397 ) $ 5,055 $ (3,884 ) $ 1,171 (a) 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 Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive (Loss) Components For the nine months ended September 30, 2017 For the nine months ended September 30, 2016 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (9 ) $ 20 Net gain (loss) on securities available for sale Tax effect 3 (7 ) Income tax expense (6 ) 13 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (b) (946 ) (249 ) Salaries, wages and benefits Tax effect 321 84 Income tax expense (625 ) (165 ) Net of tax Total reclassifications for the period $ (631 ) $ (152 ) Net of tax (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (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 Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive (Loss) Components For the three months ended September 30, 2017 For the three months ended September 30, 2016 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (9 ) $ 18 Net gain (loss) on securities available for sale Tax effect 3 (6 ) Income tax expense (6 ) 12 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (b) (426 ) (83 ) Salaries, wages and benefits Tax effect 144 28 Income tax expense (282 ) (55 ) Net of tax Total reclassifications for the period $ (288 ) $ (43 ) Net of tax (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (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, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Intangible Assets, Other than Goodwill | Acquired intangible assets, other than goodwill, as of September 30, 2017 and December 31, 2016 were as follows: 2017 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets(1): MSRs $ 1,022 $ 302 $ 720 $ 912 $ 250 $ 662 Core deposit intangibles 7,274 6,634 640 7,274 6,152 1,122 Total amortized intangible assets $ 8,296 $ 6,936 $ 1,360 $ 8,186 $ 6,402 $ 1,784 (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 intangibles Total 2017 $ 30 $ 104 $ 134 2018 40 111 151 2019 40 88 128 2020 40 72 112 2021 40 68 108 Thereafter 530 197 727 $ 720 $ 640 $ 1,360 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Federal Funds Purchased and Other Short-term Borrowings are Included in Federal Home Loan Bank Advances on Consolidated Balance Sheets | Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are included in Federal Home Loan Bank advances on the Consolidated Balance Sheets and are summarized as follows: At September 30, 2017 At December 31, 2016 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance $ — $ 41,750 $ — $ 31,000 Maximum indebtedness 22,500 115,050 20,000 70,400 Average balance 156 42,102 116 10,483 Average rate paid 1.71 % 1.08 % 0.86 % 0.42 % Interest rate on balance — 1.17 % — 0.64 % |
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, 2017 and December 31, 2016. All of the repurchase agreements are overnight agreements. September 30, 2017 December 31, 2016 Securities pledged for repurchase agreements: U.S. Treasury securities $ 742 $ 1,761 Obligations of U.S. government agencies 14,406 27,164 Total securities pledged $ 15,148 $ 28,925 Gross amount of recognized liabilities for repurchase agreements $ 15,148 $ 28,925 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, 2017 | |
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 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 September 30, September 30, 2017 2016 2017 2016 Basic Net income $ 3,660 $ 3,680 $ 11,892 $ 13,586 Preferred stock dividends 308 374 935 1,156 Net income available to common shareholders—basic $ 3,352 $ 3,306 $ 10,957 $ 12,430 Weighted average common shares outstanding—basic 10,170,734 8,042,303 9,815,118 7,922,170 Basic earnings per common share $ 0.33 $ 0.41 $ 1.12 $ 1.57 Diluted Net income available to common shareholders—basic $ 3,352 $ 3,306 $ 10,957 $ 12,430 Preferred stock dividends 308 374 935 1,156 Net income available to common shareholders—diluted $ 3,660 $ 3,680 $ 11,892 $ 13,586 Weighted average common shares outstanding for basic earnings per common share 10,170,734 8,042,303 9,815,118 7,922,170 Add: Dilutive effects of convertible preferred shares 2,426,565 2,922,609 2,455,008 3,024,712 Average shares and dilutive potential common shares outstanding—diluted 12,597,299 10,964,912 12,270,126 10,946,882 Diluted earnings per common share $ 0.29 $ 0.34 $ 0.97 $ 1.24 |
Commitments, Contingencies an32
Commitments, Contingencies and Off-Balance Sheet Risk (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017 and December 31, 2016: Contract Amount September 30, 2017 December 31, 2016 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitment to extend credit: Lines of credit and construction loans $ 8,042 $ 271,718 $ 6,905 $ 202,923 Overdraft protection 6 32,223 5 29,075 Letters of credit 624 317 600 349 $ 8,672 $ 304,258 $ 7,510 $ 232,347 |
Pension Information (Tables)
Pension Information (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Components of Net Periodic Pension Benefit | Net periodic pension benefit was as follows: Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 Service cost $ — $ — $ — $ — Interest cost 171 170 509 509 Expected return on plan assets (283 ) (274 ) (844 ) (821 ) Other components 426 83 946 249 Net periodic pension benefit $ 314 $ (21 ) $ 611 $ (63 ) |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Of Compensation Related Costs Sharebased 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 for the three- and nine-month periods ended September 30, 2017: Three months ended Nine months ended September 30, 2017 September 30, 2017 Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 42,138 $ 15.60 37,050 $ 10.77 Granted — — 17,898 22.15 Vested — — (12,810 ) 10.76 Forfeited — — — — Nonvested at September 30, 2017 42,138 $ 15.60 42,138 $ 15.60 The following is a summary of the status of the Company’s awarded restricted shares as of September 30, 2017: At September 30, 2017 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) March 17, 2015 16,699 $ 9 0.25 March 11, 2016 15,748 41 1.25 March 20, 2017 11,713 126 2.25 January 15, 2016 10,260 72 3.25 March 20, 2017 6,185 119 4.25 60,605 $ 367 2.93 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value | Assets measured at fair value are summarized below. Fair Value Measurements at September 30, 2017 Using: Assets: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 31,063 $ — Obligations of states and political subdivisions — 113,615 — Mortgage-backed securities in government sponsored entities — 83,923 — Equity securities in financial institutions — 818 — Swap asset — 1,706 — Liabilities measured at fair value on a recurring basis: Swap liability — 1,706 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 1,639 Other real estate owned — — 27 Fair Value Measurements at December 31, 2016 Using: Assets: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 37,446 $ — Obligations of states and political subdivisions — 94,998 — Mortgage-backed securities in government sponsored entities — 62,642 — Equity securities in financial institutions — 778 — Swap asset — 1,839 — Liabilities measured at fair value on a recurring basis: Swap liability — 1,839 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 952 Other real estate owned — — 37 |
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, 2017. Quantitative Information about Level 3 Fair Value Measurements September 30, 2017 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1,639 Appraisal of collateral Appraisal adjustments 10% - 48% 34% Liquidation expense 0% - 10% 4% Holding period 0 - 30 months 20 months Other real estate owned $ 27 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, 2016. Quantitative Information about Level 3 Fair Value Measurements December 31, 2016 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 952 Appraisal of collateral Appraisal adjustments 10% - 67% 64% Liquidation expense 0% - 10% 4% Holding period 0 - 30 months 19 months Other real estate owned $ 37 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% |
Carrying Amount and Fair Value of Financial Instruments | The carrying amount and fair values of financial instruments are as follows: September 30, 2017 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 33,394 $ 33,394 $ 33,394 $ — $ — Securities available for sale 229,419 229,419 — 229,419 — Other securities 14,247 14,247 14,247 — — Loans, held for sale 4,662 4,662 4,662 — — Loans, net of allowance for loan losses 1,129,046 1,130,083 — — 1,130,083 Bank owned life insurance 24,981 24,981 24,981 — — Accrued interest receivable 4,999 4,999 4,999 — — Swap asset 1,706 1,706 — 1,706 — Financial Liabilities: Nonmaturing deposits 947,262 947,262 947,262 — — Time deposits 254,027 254,017 — — 254,017 Short-term FHLB advances 41,750 41,722 41,722 — — Long-term FHLB advances 15,000 14,966 — — 14,966 Securities sold under agreement to repurchase 15,148 15,148 15,148 — — Subordinated debentures 29,427 29,470 — — 29,470 Accrued interest payable 244 244 244 — — Swap liability 1,706 1,706 — 1,706 — December 31, 2016 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 36,695 $ 36,695 $ 36,695 $ — $ — Securities available for sale 195,864 195,864 — 195,864 — Loans, held for sale 2,268 2,268 2,268 — — Loans, net of allowance for loan losses 1,042,201 1,047,329 — — 1,047,329 Other securities 14,055 14,055 14,055 — — Bank owned life insurance 24,552 24,552 24,552 — — Accrued interest receivable 3,854 3,854 3,854 — — Swap asset 1,839 1,839 — 1,839 — Financial Liabilities: Nonmaturing deposits 913,677 913,677 913,677 — — Time deposits 207,426 207,784 — — 207,784 Short-term FHLB advances 31,000 31,007 31,007 — — Long-term FHLB advances 17,500 17,553 — — 17,553 Securities sold under agreement to repurchase 28,925 28,925 28,925 — — Subordinated debentures 29,427 27,414 — — 27,414 Accrued interest payable 181 181 181 — — Swap liability 1,839 1,839 — 1,839 — |
Derivative Hedging Instruments
Derivative Hedging Instruments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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, 2017. Notional Amount Weighted Average Rate Received/(Paid) Impact of a 1 basis point change in interest rates Repricing Frequency Derivative Assets $ 60,711 5.09 % $ 35 Monthly Derivative Liabilities (60,711 ) -5.09 % (35 ) 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, 2016. Notional Amount Weighted Average Rate Received/(Paid) Impact of a 1 basis point change in interest rates Repricing Frequency Derivative Assets $ 52,975 5.07 % $ 30 Monthly Derivative Liabilities (52,975 ) -5.07 % (30 ) Monthly Net Exposure $ — $ — |
Consolidated Financial Statem37
Consolidated Financial Statements - Additional Information (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($)DwellingSegment | |
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 | Dwelling | 2 |
Number of reportable segment | Segment | 1 |
Non Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 284,218 |
Amount payable to lessors in percentage | 24.80% |
Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 155,616 |
Amount payable to lessors in percentage | 13.60% |
Maximum [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Percentage of insurance commission revenue of total revenue | 1.00% |
Maximum [Member] | WSP [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Percentage of insurance commission revenue of total revenue | 1.00% |
Significant Accounting Polici38
Significant Accounting Policies - Additional Information (Detail) - Maximum [Member] | 9 Months Ended |
Sep. 30, 2017 | |
Significant Accounting Policies [Line Items] | |
Percentage of increase on assets due to new accounting standard updates | 1.00% |
Percentage of increase on liabilities due to new accounting standard updates | 1.00% |
Securities - Available for Sale
Securities - Available for Sale Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 224,382 | $ 192,820 |
Gross Unrealized Gains | 5,705 | 4,292 |
Gross Unrealized Losses | (668) | (1,248) |
Total securities available for sale, Fair Value | 229,419 | 195,864 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 30,972 | 37,406 |
Gross Unrealized Gains | 178 | 117 |
Gross Unrealized Losses | (87) | (77) |
Total securities available for sale, Fair Value | 31,063 | 37,446 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 109,443 | 92,177 |
Gross Unrealized Gains | 4,397 | 3,395 |
Gross Unrealized Losses | (225) | (574) |
Total securities available for sale, Fair Value | 113,615 | 94,998 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 83,486 | 62,756 |
Gross Unrealized Gains | 793 | 483 |
Gross Unrealized Losses | (356) | (597) |
Total securities available for sale, Fair Value | 83,923 | 62,642 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 223,901 | 192,339 |
Gross Unrealized Gains | 5,368 | 3,995 |
Gross Unrealized Losses | (668) | (1,248) |
Total securities available for sale, Fair Value | 228,601 | 195,086 |
Equity Securities in Financial Institutions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 481 | 481 |
Gross Unrealized Gains | 337 | 297 |
Total securities available for sale, Fair Value | $ 818 | $ 778 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investments Debt And Equity Securities [Abstract] | ||
Amortized Cost, Due in one year or less | $ 5,099 | |
Amortized Cost, Due after one year through five years | 30,106 | |
Amortized Cost, Due after five years through ten years | 33,441 | |
Amortized Cost, Due after ten years | 71,769 | |
Amortized Cost, Mortgage-backed securities | 83,486 | |
Amortized Cost, Equity securities | 481 | |
Amortized Cost | 224,382 | $ 192,820 |
Fair value, Due in one year or less | 5,108 | |
Fair value, Due after one year through five years | 30,180 | |
Fair value, Due after five years through ten years | 35,104 | |
Fair value, Due after ten years | 74,286 | |
Fair value, Mortgage-backed securities | 83,923 | |
Fair value, Equity securities | 818 | |
Fair value, Total securities available for sale | $ 229,419 | $ 195,864 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Investments Debt And Equity Securities [Abstract] | ||||
Sale proceeds | $ 953 | $ 2,385 | $ 953 | $ 4,379 |
Gross realized gains | 0 | 18 | 0 | 18 |
Gross realized losses | 0 | $ 0 | 0 | 0 |
Gains (losses) from securities called or settled by the issuer | $ (9) | $ (9) | $ 2 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Sep. 30, 2017USD ($)Security | Dec. 31, 2016USD ($) |
Investments Debt And Equity Securities [Abstract] | ||
Carrying value of pledged securities | $ | $ 130,367 | $ 139,179 |
Number of securities in portfolio with unrealized losses | Security | 58 |
Securities - Securities with Un
Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | $ 40,292 | $ 65,891 |
12 Months or less, Unrealized Loss | (207) | (1,185) |
More than 12 months, Fair Value | 24,285 | 4,261 |
More than 12 months, Unrealized Loss | (461) | (63) |
Total Fair Value | 64,577 | 70,152 |
Total Unrealized Loss | (668) | (1,248) |
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 | 13,574 | 13,271 |
12 Months or less, Unrealized Loss | (48) | (61) |
More than 12 months, Fair Value | 3,761 | 893 |
More than 12 months, Unrealized Loss | (39) | (16) |
Total Fair Value | 17,335 | 14,164 |
Total Unrealized Loss | (87) | (77) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 4,960 | 17,167 |
12 Months or less, Unrealized Loss | (51) | (558) |
More than 12 months, Fair Value | 5,462 | 519 |
More than 12 months, Unrealized Loss | (174) | (16) |
Total Fair Value | 10,422 | 17,686 |
Total Unrealized Loss | (225) | (574) |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 21,758 | 35,453 |
12 Months or less, Unrealized Loss | (108) | (566) |
More than 12 months, Fair Value | 15,062 | 2,849 |
More than 12 months, Unrealized Loss | (248) | (31) |
Total Fair Value | 36,820 | 38,302 |
Total Unrealized Loss | $ (356) | $ (597) |
Loans - Loan Balances (Detail)
Loans - Loan Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 1,141,992 | $ 1,055,506 |
Allowance for loan losses | (12,946) | (13,305) |
Net loans | 1,129,046 | 1,042,201 |
Commercial and Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 147,537 | 135,462 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 167,678 | 161,364 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 424,430 | 395,931 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 267,839 | 247,308 |
Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 77,978 | 56,293 |
Farm Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 38,966 | 41,170 |
Consumer and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 17,564 | $ 17,978 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Receivables [Abstract] | ||
Deferred loan (fees) costs | $ (80) | $ 94 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017USD ($)SecurityLoan | Sep. 30, 2016SecurityLoan | Sep. 30, 2017USD ($)SecurityLoan | Sep. 30, 2016USD ($)SecurityLoan | Dec. 31, 2016USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Period for calculating Loss migration rates of portfolio segments | 3 years | ||||
Allowance for loan losses | $ 12,946 | $ 12,946 | $ 13,305 | ||
Proceeds from payoff on previously charged-off loans | $ 1,303 | ||||
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 has made a minimum of six months payments; 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 | $ 133 | 175 | |||
Foreclosed assets | $ 27 | 27 | 37 | ||
Residential Mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Foreclosed assets | 27 | 27 | |||
Residential mortgages in process of foreclosure | 251 | 251 | 710 | ||
TDRs [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance for loan losses | $ 298 | $ 298 | $ 278 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | $ 13,047 | $ 14,547 | $ 13,305 | $ 14,361 |
Charge-offs | (309) | (1,183) | (797) | (1,539) |
Recoveries | 208 | 87 | 438 | 1,929 |
Provision | (1,300) | |||
Ending Balance | 12,946 | 13,451 | 12,946 | 13,451 |
Commercial and Agriculture [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 1,608 | 1,557 | 2,018 | 1,478 |
Charge-offs | (10) | (828) | (11) | (870) |
Recoveries | 51 | 44 | 134 | 79 |
Provision | (38) | 937 | (530) | 1,023 |
Ending Balance | 1,611 | 1,710 | 1,611 | 1,710 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 2,010 | 2,393 | 2,171 | 2,467 |
Charge-offs | (91) | (124) | (301) | (166) |
Recoveries | 8 | 1 | 26 | 53 |
Provision | 146 | 40 | 177 | (44) |
Ending Balance | 2,073 | 2,310 | 2,073 | 2,310 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 4,739 | 4,969 | 4,606 | 4,657 |
Charge-offs | (38) | (23) | (38) | (23) |
Recoveries | 33 | 6 | 42 | 1,365 |
Provision | 539 | (409) | 663 | (1,456) |
Ending Balance | 5,273 | 4,543 | 5,273 | 4,543 |
Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 2,676 | 3,899 | 3,089 | 4,086 |
Charge-offs | (116) | (55) | (312) | (280) |
Recoveries | 77 | 23 | 164 | 384 |
Provision | (158) | (412) | (462) | (735) |
Ending Balance | 2,479 | 3,455 | 2,479 | 3,455 |
Real Estate Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 482 | 366 | 420 | 371 |
Charge-offs | (115) | (115) | ||
Recoveries | 13 | 6 | 32 | 8 |
Provision | 172 | 167 | 215 | 160 |
Ending Balance | 667 | 424 | 667 | 424 |
Farm Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 425 | 476 | 442 | 538 |
Recoveries | 2 | 2 | ||
Provision | (3) | (46) | (20) | (108) |
Ending Balance | 424 | 430 | 424 | 430 |
Consumer and Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 324 | 358 | 314 | 382 |
Charge-offs | (54) | (38) | (135) | (85) |
Recoveries | 24 | 7 | 38 | 40 |
Provision | 31 | 10 | 108 | 0 |
Ending Balance | 325 | 337 | 325 | 337 |
Unallocated [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 783 | 529 | 245 | 382 |
Provision | (689) | (287) | (151) | (140) |
Ending Balance | $ 94 | $ 242 | $ 94 | $ 242 |
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, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | $ 246 | $ 188 | ||||
Collectively evaluated for impairment | 12,567 | 12,942 | ||||
Total | 12,946 | $ 13,047 | 13,305 | $ 13,451 | $ 14,547 | $ 14,361 |
Individually evaluated for impairment | 4,258 | 6,539 | ||||
Collectively evaluated for impairment | 1,137,506 | 1,048,711 | ||||
Total | 1,141,992 | 1,055,506 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans acquired with credit deterioration | 133 | 175 | ||||
Loan balance of loans acquired with credit deterioration | 228 | 256 | ||||
Commercial and Agriculture [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 122 | 82 | ||||
Collectively evaluated for impairment | 1,408 | 1,850 | ||||
Total | 1,611 | 1,608 | 2,018 | 1,710 | 1,557 | 1,478 |
Individually evaluated for impairment | 1,170 | 1,983 | ||||
Collectively evaluated for impairment | 146,278 | 133,391 | ||||
Total | 147,537 | 135,462 | ||||
Commercial and Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans acquired with credit deterioration | 81 | 86 | ||||
Loan balance of loans acquired with credit deterioration | 89 | 88 | ||||
Commercial Real Estate Owner Occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 4 | 4 | ||||
Collectively evaluated for impairment | 2,069 | 2,167 | ||||
Total | 2,073 | 2,010 | 2,171 | 2,310 | 2,393 | 2,467 |
Individually evaluated for impairment | 1,039 | 1,896 | ||||
Collectively evaluated for impairment | 166,639 | 159,468 | ||||
Total | 167,678 | 161,364 | ||||
Commercial Real Estate Non Owner Occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Collectively evaluated for impairment | 5,273 | 4,606 | ||||
Total | 5,273 | 4,739 | 4,606 | 4,543 | 4,969 | 4,657 |
Individually evaluated for impairment | 50 | 359 | ||||
Collectively evaluated for impairment | 424,380 | 395,572 | ||||
Total | 424,430 | 395,931 | ||||
Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 114 | 102 | ||||
Collectively evaluated for impairment | 2,313 | 2,898 | ||||
Total | 2,479 | 2,676 | 3,089 | 3,455 | 3,899 | 4,086 |
Individually evaluated for impairment | 1,386 | 1,686 | ||||
Collectively evaluated for impairment | 266,314 | 245,454 | ||||
Total | 267,839 | 247,308 | ||||
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans acquired with credit deterioration | 52 | 89 | ||||
Loan balance of loans acquired with credit deterioration | 139 | 168 | ||||
Real Estate Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Collectively evaluated for impairment | 667 | 420 | ||||
Total | 667 | 482 | 420 | 424 | 366 | 371 |
Collectively evaluated for impairment | 77,978 | 56,293 | ||||
Total | 77,978 | 56,293 | ||||
Farm Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 6 | |||||
Collectively evaluated for impairment | 418 | 442 | ||||
Total | 424 | 425 | 442 | 430 | 476 | 538 |
Individually evaluated for impairment | 613 | 614 | ||||
Collectively evaluated for impairment | 38,353 | 40,556 | ||||
Total | 38,966 | 41,170 | ||||
Consumer and Other [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Collectively evaluated for impairment | 325 | 314 | ||||
Total | 325 | 324 | 314 | 337 | 358 | 382 |
Individually evaluated for impairment | 1 | |||||
Collectively evaluated for impairment | 17,564 | 17,977 | ||||
Total | 17,564 | 17,978 | ||||
Unallocated [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Collectively evaluated for impairment | 94 | 245 | ||||
Total | $ 94 | $ 783 | $ 245 | $ 242 | $ 529 | $ 382 |
Allowance for Loan Losses - Cre
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 925,040 | $ 854,479 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 887,765 | 816,760 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 22,572 | 17,342 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 14,703 | 20,377 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 147,537 | 135,462 |
Commercial and Agriculture [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 140,866 | 127,867 |
Commercial and Agriculture [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 4,697 | 4,300 |
Commercial and Agriculture [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,974 | 3,295 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 167,678 | 161,364 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 156,583 | 151,659 |
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 | 7,119 | 4,016 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3,976 | 5,689 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 424,430 | 395,931 |
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 | 421,452 | 393,592 |
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 | 2,174 | 1,676 |
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 | 804 | 663 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 71,133 | 67,587 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 63,081 | 59,015 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 2,054 | 1,661 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 5,998 | 6,911 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 73,623 | 50,721 |
Real Estate Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 73,581 | 50,678 |
Real Estate Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 15 | 16 |
Real Estate Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 27 | 27 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 38,966 | 41,170 |
Farm Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 30,604 | 31,814 |
Farm Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 6,513 | 5,673 |
Farm Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,849 | 3,683 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,673 | 2,244 |
Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,598 | 2,135 |
Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 75 | $ 109 |
Allowance for Loan Losses - Per
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | $ 216,908 | $ 201,018 |
Nonperforming | 44 | 9 |
Total | 216,952 | 201,027 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 196,706 | 179,721 |
Total | 196,706 | 179,721 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 4,355 | 5,572 |
Total | 4,355 | 5,572 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 15,847 | 15,725 |
Nonperforming | 44 | 9 |
Total | $ 15,891 | $ 15,734 |
Allowance for Loan Losses - Agi
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 4,205 | $ 6,111 |
Current | 1,137,559 | 1,049,139 |
Total Loans | 1,141,992 | 1,055,506 |
Past Due 90 Days and Accruing | 44 | 9 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 857 | 3,145 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 602 | 1,111 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,746 | 1,855 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 228 | 256 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,053 | 328 |
Current | 146,395 | 135,046 |
Total Loans | 147,537 | 135,462 |
Commercial and Agriculture [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 389 | 156 |
Commercial and Agriculture [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 20 | |
Commercial and Agriculture [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 664 | 152 |
Commercial and Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 89 | 88 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 690 | 1,555 |
Current | 166,988 | 159,809 |
Total Loans | 167,678 | 161,364 |
Commercial Real Estate Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 722 | |
Commercial Real Estate Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 174 | 553 |
Commercial Real Estate Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 516 | 280 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 692 | 463 |
Current | 423,738 | 395,468 |
Total Loans | 424,430 | 395,931 |
Commercial Real Estate Non Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 164 | 147 |
Commercial Real Estate Non Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 108 | |
Commercial Real Estate Non Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 420 | 316 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,338 | 3,368 |
Current | 266,362 | 243,772 |
Total Loans | 267,839 | 247,308 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 218 | 1,812 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 242 | 507 |
Residential Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 878 | 1,049 |
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 139 | 168 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 95 | 27 |
Current | 77,883 | 56,266 |
Total Loans | 77,978 | 56,293 |
Real Estate Construction [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 68 | |
Real Estate Construction [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 27 | 27 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 193 | 93 |
Current | 38,773 | 41,077 |
Total Loans | 38,966 | 41,170 |
Farm Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 93 | |
Farm Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 193 | |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 144 | 277 |
Current | 17,420 | 17,701 |
Total Loans | 17,564 | 17,978 |
Past Due 90 Days and Accruing | 44 | 9 |
Consumer and Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 86 | 215 |
Consumer and Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10 | 31 |
Consumer and Other [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 48 | $ 31 |
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, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 7,532 | $ 6,943 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,889 | 1,622 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,989 | 1,461 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 566 | 464 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 2,798 | 3,266 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 27 | 27 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 193 | 2 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 70 | $ 101 |
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 ($)Contract | Sep. 30, 2017USD ($)Contract | Sep. 30, 2016USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | 1 | 9 |
Pre- Modification Outstanding Recorded Investment | $ 86 | $ 13 | $ 1,537 |
Post-Modification Outstanding Recorded Investment | $ 86 | $ 13 | $ 1,537 |
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 | 1 | 2 | |
Pre- Modification Outstanding Recorded Investment | $ 13 | $ 308 | |
Post-Modification Outstanding Recorded Investment | $ 13 | $ 308 | |
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 Financing Receivables Excluding PCI Loans - Recorded Investment and Unpaid Principal Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $ 2,009 | $ 5,121 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 2,339 | 6,145 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 2,249 | 1,418 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 2,803 | 1,972 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 246 | 188 |
Impaired financing receivables, Recorded Investment, Total | 4,258 | 6,539 |
Impaired financing receivables, Unpaid Principal Balance, Total | 5,142 | 8,117 |
Impaired financing receivables, Related Allowance, Total | 246 | 188 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,230 | |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,751 | |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 1,170 | 753 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 1,720 | 1,303 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 122 | 82 |
Impaired financing receivables, Recorded Investment, Total | 1,170 | 1,983 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,720 | 3,054 |
Impaired financing receivables, Related Allowance, Total | 122 | 82 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 814 | 1,658 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,069 | 1,803 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 225 | 238 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 225 | 238 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 4 | 4 |
Impaired financing receivables, Recorded Investment, Total | 1,039 | 1,896 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,294 | 2,041 |
Impaired financing receivables, Related Allowance, Total | 4 | 4 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 50 | 359 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 53 | 386 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, Recorded Investment, Total | 50 | 359 |
Impaired financing receivables, Unpaid Principal Balance, Total | 53 | 386 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 996 | 1,259 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,068 | 1,590 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 390 | 427 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 394 | 431 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 114 | 102 |
Impaired financing receivables, Recorded Investment, Total | 1,386 | 1,686 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,462 | 2,021 |
Impaired financing receivables, Related Allowance, Total | 114 | 102 |
Farm Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 149 | 614 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 149 | 614 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 464 | |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 464 | |
Impaired financing receivables, with an allowance recorded, Related Allowance | 6 | |
Impaired financing receivables, Recorded Investment, Total | 613 | 614 |
Impaired financing receivables, Unpaid Principal Balance, Total | 613 | 614 |
Impaired financing receivables, Related Allowance, Total | 6 | |
Consumer and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1 | |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1 | |
Impaired financing receivables, with no related allowance recorded, Related Allowance | $ 0 | 0 |
Impaired financing receivables, Recorded Investment, Total | 1 | |
Impaired financing receivables, Unpaid Principal Balance, Total | $ 1 |
Allowance for Loan Losses - I55
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | $ 4,996 | $ 7,638 | $ 5,689 | $ 8,223 |
Interest Income Recognized | 52 | 58 | 175 | 1,020 |
Commercial and Agriculture [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,366 | 2,401 | 1,609 | 1,453 |
Interest Income Recognized | 7 | 8 | 27 | 19 |
Commercial Real Estate Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,377 | 1,774 | 1,632 | 1,954 |
Interest Income Recognized | 18 | 21 | 66 | 66 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 202 | 556 | 280 | 1,519 |
Interest Income Recognized | 2 | 1 | 5 | 858 |
Residential Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,437 | 1,873 | 1,554 | 1,699 |
Interest Income Recognized | 17 | 21 | 56 | 60 |
Real Estate Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 473 | |||
Farm Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 614 | 1,032 | 614 | 1,123 |
Interest Income Recognized | $ 8 | 7 | $ 21 | 17 |
Consumer and Other [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | $ 2 | $ 2 |
Allowance for Loan Losses - S56
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement Schedule Roll Forward | ||||
Balance at beginning of period | $ 31 | $ 66 | $ 49 | $ 82 |
Acquisition of PCI loans | 0 | 0 | 0 | 0 |
Accretion | (9) | (8) | (27) | (24) |
Balance at end of period | $ 22 | $ 58 | $ 22 | $ 58 |
Allowance for Loan Losses - S57
Allowance for Loan Losses - Schedule of Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Receivables [Abstract] | ||
Outstanding balance | $ 795 | $ 850 |
Carrying amount | $ 228 | $ 256 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ 137,616 | |||
Amounts reclassified from accumulated other comprehensive loss | $ 288 | $ 43 | 631 | $ 152 |
Total other comprehensive income (loss) | 339 | (753) | 1,940 | 1,666 |
Ending balance | 181,981 | 181,981 | ||
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 3,266 | 5,863 | 2,008 | 3,554 |
Other comprehensive income before reclassifications | 51 | (796) | 1,309 | 1,514 |
Amounts reclassified from accumulated other comprehensive loss | 6 | (12) | 6 | (13) |
Total other comprehensive income (loss) | 57 | (808) | 1,315 | 1,501 |
Ending balance | 3,323 | 5,055 | 3,323 | 5,055 |
Defined Benefit Pension Items [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (4,002) | (3,939) | (4,345) | (4,049) |
Amounts reclassified from accumulated other comprehensive loss | 282 | 55 | 625 | 165 |
Total other comprehensive income (loss) | 282 | 55 | 625 | 165 |
Ending balance | (3,720) | (3,884) | (3,720) | (3,884) |
Accumulated Other Comprehensive Loss [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (736) | 1,924 | (2,337) | (495) |
Other comprehensive income before reclassifications | 51 | (796) | 1,309 | 1,514 |
Amounts reclassified from accumulated other comprehensive loss | 288 | 43 | 631 | 152 |
Total other comprehensive income (loss) | 339 | (753) | 1,940 | 1,666 |
Ending balance | $ (397) | $ 1,171 | $ (397) | $ 1,171 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net gain (loss) on sale of securities | $ 9 | $ (18) | $ 9 | $ (20) |
Income taxes | 1,318 | 1,304 | 4,534 | 5,251 |
Net of tax | (3,352) | (3,306) | (10,957) | (12,430) |
Reclassifications, net of tax | (288) | (43) | (631) | (152) |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassifications, net of tax | (6) | 12 | (6) | 13 |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Loss [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net gain (loss) on sale of securities | (9) | 18 | (9) | 20 |
Income taxes | 3 | (6) | 3 | (7) |
Net of tax | (6) | 12 | (6) | 13 |
Accumulated Defined Benefit Plans Adjustment, Actuarial Losses [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Salaries, wages and benefits | (426) | (83) | (946) | (249) |
Defined Benefit Pension Items [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income taxes | 144 | 28 | 321 | 84 |
Reclassifications, net of tax | $ (282) | $ (55) | $ (625) | $ (165) |
Goodwill and Intangible Asset60
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||||
Goodwill | $ 27,095,000 | $ 27,095,000 | $ 27,095,000 | ||
Change in carrying amount of goodwill | 0 | $ 0 | |||
Amortization of core deposit intangible assets | 158,000 | $ 172,000 | 483,000 | $ 527,000 | |
Aggregate mortgage servicing rights amortization | $ 23,000 | $ 30,000 | $ 51,000 | $ 45,000 |
Goodwill and Intangible Asset61
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets, Other than Goodwill (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 8,296 | $ 8,186 |
Accumulated Amortization | 6,936 | 6,402 |
Net Carrying Amount | 1,360 | 1,784 |
MSRs [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 1,022 | 912 |
Accumulated Amortization | 302 | 250 |
Net Carrying Amount | 720 | 662 |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 7,274 | 7,274 |
Accumulated Amortization | 6,634 | 6,152 |
Net Carrying Amount | $ 640 | $ 1,122 |
Goodwill and Intangible Asset62
Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2,017 | $ 134 | |
2,018 | 151 | |
2,019 | 128 | |
2,020 | 112 | |
2,021 | 108 | |
Thereafter | 727 | |
Net Carrying Amount | 1,360 | $ 1,784 |
MSRs [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2,017 | 30 | |
2,018 | 40 | |
2,019 | 40 | |
2,020 | 40 | |
2,021 | 40 | |
Thereafter | 530 | |
Net Carrying Amount | 720 | 662 |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2,017 | 104 | |
2,018 | 111 | |
2,019 | 88 | |
2,020 | 72 | |
2,021 | 68 | |
Thereafter | 197 | |
Net Carrying Amount | $ 640 | $ 1,122 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Federal Funds Purchased and Other Short-term Borrowings are Included in Federal Home Loan Bank Advances on Consolidated Balance Sheets (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Maximum indebtedness | $ 22,500,000 | $ 20,000,000 |
Average balance | $ 156,000 | $ 116,000 |
Average rate paid | 1.71% | 0.86% |
Short Term Borrowings [Member] | ||
Short-term Debt [Line Items] | ||
Outstanding balance | $ 41,750,000 | $ 31,000,000 |
Maximum indebtedness | 115,050,000 | 70,400,000 |
Average balance | $ 42,102,000 | $ 10,483,000 |
Average rate paid | 1.08% | 0.42% |
Interest rate on balance | 1.17% | 0.64% |
Short-Term Borrowings - Summa64
Short-Term Borrowings - Summary of Securities Pledged as Collateral Under Repurchase Agreements (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Offsetting Liabilities [Line Items] | ||
Total securities pledged | $ 15,148 | $ 28,925 |
Gross amount of recognized liabilities for repurchase agreements | 15,148 | 28,925 |
Amounts related to agreements not included in offsetting disclosures above | 0 | 0 |
U.S.Treasury Securities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Total securities pledged | 742 | 1,761 |
Obligations of U.S. Government Agencies [Member] | ||
Offsetting Liabilities [Line Items] | ||
Total securities pledged | $ 14,406 | $ 27,164 |
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Basic | ||||
Net income | $ 3,660 | $ 3,680 | $ 11,892 | $ 13,586 |
Preferred stock dividends | 308 | 374 | 935 | 1,156 |
Net income available to common shareholders | $ 3,352 | $ 3,306 | $ 10,957 | $ 12,430 |
Weighted average common shares outstanding for basic earnings per common share | 10,170,734 | 8,042,303 | 9,815,118 | 7,922,170 |
Basic earnings per common share | $ 0.33 | $ 0.41 | $ 1.12 | $ 1.57 |
Diluted | ||||
Net income available to common shareholders—basic | $ 3,352 | $ 3,306 | $ 10,957 | $ 12,430 |
Preferred stock dividends | 308 | 374 | 935 | 1,156 |
Net income available to common shareholders—diluted | $ 3,660 | $ 3,680 | $ 11,892 | $ 13,586 |
Weighted average common shares outstanding for basic earnings per common share | 10,170,734 | 8,042,303 | 9,815,118 | 7,922,170 |
Add: Dilutive effects of convertible preferred shares | 2,426,565 | 2,922,609 | 2,455,008 | 3,024,712 |
Average shares and dilutive potential common shares outstanding—diluted | 12,597,299 | 10,964,912 | 12,270,126 | 10,946,882 |
Diluted earnings per common share | $ 0.29 | $ 0.34 | $ 0.97 | $ 1.24 |
Earnings per Common Share - Add
Earnings per Common Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Dilutive shares related to convertible preferred stock | 2,426,565 | 2,922,609 | 2,455,008 | 3,024,712 |
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, 2017 | Dec. 31, 2016 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | $ 8,672 | $ 7,510 |
Variable Rate | 304,258 | 232,347 |
Lines of Credit and Construction Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 8,042 | 6,905 |
Variable Rate | 271,718 | 202,923 |
Overdraft Protection [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 6 | 5 |
Variable Rate | 32,223 | 29,075 |
Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 624 | 600 |
Variable Rate | $ 317 | $ 349 |
Commitments, Contingencies an68
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
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 | $ 5,223 | $ 2,887 |
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 | 8.00% | 8.75% |
Pension Information - Additiona
Pension Information - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Compensation And Retirement Disclosure [Abstract] | ||
Additional benefits under pension plan | $ 0 | |
Expected future employer contributions | $ 2,000,000 | |
Employer contributions | $ 500,000 |
Pension Information - Component
Pension Information - Components of Net Periodic Pension Benefit (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Compensation And Retirement Disclosure [Abstract] | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 171 | 170 | 509 | 509 |
Expected return on plan assets | (283) | (274) | (844) | (821) |
Other components | 426 | 83 | 946 | 249 |
Net periodic pension benefit | $ 314 | $ (21) | $ 611 | $ (63) |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 11, 2017 | May 16, 2017 | May 17, 2016 | Jan. 04, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Restricted common shares granted | 60,605 | ||||||
Share based compensation expense | $ 225 | ||||||
Expected future compensation expense | $ 367 | ||||||
Civista [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based compensation - Civista BOD | $ 8 | $ 144 | $ 130 | $ 32 | |||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Restricted shares vesting service period | 3 years | ||||||
Restricted common shares granted | 367 | 6,804 | 12,285 | 2,730 | 17,898 | ||
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 | 292,209 | ||||||
Options granted | 0 | 0 | |||||
Expected future compensation expense | $ 367 | ||||||
Weighted average remaining life of grants related to unvested awards not yet recognized | 2 years 11 months 5 days | ||||||
2014 Incentive Plan [Member] | Director | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based compensation expense | $ 152 |
Equity Incentive Plan - Summary
Equity Incentive Plan - Summary of Company's Restricted Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands | Sep. 11, 2017 | May 16, 2017 | May 17, 2016 | Jan. 04, 2016 | Sep. 30, 2017 | Sep. 30, 2017 |
Schedule Of Nonvested Stock Option Activity [Line Items] | ||||||
Number of Restricted Shares, Granted | 60,605 | |||||
Expected future remaining compensation expense | $ 367 | $ 367 | ||||
Expected future compensation expense, restricted shares remaining vesting period | 2 years 11 months 4 days | |||||
Restricted Shares Awarded on March 17, 2015 [Member] | ||||||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||||||
Number of Restricted Shares, Granted | 16,699 | |||||
Date of Award | Mar. 17, 2015 | |||||
Expected future remaining compensation expense | 9 | $ 9 | ||||
Expected future compensation expense, restricted shares remaining vesting period | 2 months 30 days | |||||
Restricted Shares Awarded on March 11, 2016 [Member] | ||||||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||||||
Number of Restricted Shares, Granted | 15,748 | |||||
Date of Award | Mar. 11, 2016 | |||||
Expected future remaining compensation expense | 41 | $ 41 | ||||
Expected future compensation expense, restricted shares remaining vesting period | 1 year 2 months 30 days | |||||
Restricted Shares Awarded on March 20, 2017 [Member] | ||||||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||||||
Number of Restricted Shares, Granted | 11,713 | |||||
Date of Award | Mar. 20, 2017 | |||||
Expected future remaining compensation expense | 126 | $ 126 | ||||
Expected future compensation expense, restricted shares remaining vesting period | 2 years 2 months 30 days | |||||
Restricted Shares Awarded on January 15, 2016 [Member] | ||||||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||||||
Number of Restricted Shares, Granted | 10,260 | |||||
Date of Award | Jan. 15, 2016 | |||||
Expected future remaining compensation expense | 72 | $ 72 | ||||
Expected future compensation expense, restricted shares remaining vesting period | 3 years 2 months 30 days | |||||
Restricted Shares Awarded on March 20, 2017 [Member] | ||||||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||||||
Number of Restricted Shares, Granted | 6,185 | |||||
Date of Award | Mar. 20, 2017 | |||||
Expected future remaining compensation expense | $ 119 | $ 119 | ||||
Expected future compensation expense, restricted shares remaining vesting period | 4 years 2 months 30 days | |||||
Restricted Stock [Member] | ||||||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||||||
Number of Restricted Shares, Nonvested at beginning of period | 42,138 | 37,050 | ||||
Number of Restricted Shares, Granted | 367 | 6,804 | 12,285 | 2,730 | 17,898 | |
Number of Restricted Shares, Vested | (12,810) | |||||
Number of Restricted Shares, Forfeited | 0 | 0 | ||||
Number of Restricted Shares, Nonvested at September 30, 2017 | 42,138 | 42,138 | ||||
Weighted Average Grant Date Fair Value, Nonvested at beginning of period | $ 15.60 | $ 10.77 | ||||
Weighted Average Grant Date Fair Value, Granted | 22.15 | |||||
Weighted Average Grant Date Fair Value, Vested | 10.76 | |||||
Weighted Average Grant Date Fair Value, Forfeited | 0 | 0 | ||||
Weighted Average Grant Date Fair Value, Nonvested at September 30, 2017 | $ 15.60 | $ 15.60 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets Measured at Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 1,639 | $ 952 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 27 | 37 |
(Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value swap asset | 1,706 | 1,839 |
(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] | ||
Fair value swap asset | 1,706 | 1,839 |
Fair value swap liability | 1,706 | 1,839 |
(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 | 31,063 | 37,446 |
(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 | 113,615 | 94,998 |
(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 | 83,923 | 62,642 |
(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 | 818 | 778 |
(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 | 1,639 | 952 |
(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 | $ 27 | $ 37 |
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, 2017 | Dec. 31, 2016 | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 1,639 | $ 952 |
Fair Value Measurements, Valuation Technique | Appraisal of collateral | Appraisal of collateral |
Impaired Loans [Member] | Minimum [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 |
Impaired Loans [Member] | Maximum [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 48.00% | 67.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Fair Value Assumptions, Holding period | 30 months | 30 months |
Impaired Loans [Member] | Weighted Average [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 34.00% | 64.00% |
Fair Value Assumptions, Liquidation expense | 4.00% | 4.00% |
Fair Value Assumptions, Holding period | 20 months | 19 months |
Other Real Estate Owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 27 | $ 37 |
Fair Value Measurements, Valuation Technique | Appraisal of collateral | Appraisal of collateral |
Other Real Estate Owned [Member] | Minimum [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% |
Other Real Estate Owned [Member] | Maximum [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% |
Other Real Estate Owned [Member] | Weighted Average [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 Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Financial Assets: | ||||
Cash and due from financial institutions | $ 33,394 | $ 36,695 | $ 33,229 | $ 35,561 |
Securities available for sale | 229,419 | 195,864 | ||
Other securities | 14,247 | 14,055 | ||
Loans, net of allowance for loan losses | 1,129,046 | 1,042,201 | ||
Bank owned life insurance | 24,981 | 24,552 | ||
Accrued interest receivable | 4,999 | 3,854 | ||
Financial Liabilities: | ||||
Securities sold under agreement to repurchase | 15,148 | 28,925 | ||
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,394 | 36,695 | ||
Securities available for sale | 229,419 | 195,864 | ||
Other securities | 14,247 | 14,055 | ||
Loans, held for sale | 4,662 | 2,268 | ||
Loans, net of allowance for loan losses | 1,129,046 | 1,042,201 | ||
Bank owned life insurance | 24,981 | 24,552 | ||
Accrued interest receivable | 4,999 | 3,854 | ||
Fair value swap asset | 1,706 | 1,839 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 947,262 | 913,677 | ||
Time deposits | 254,027 | 207,426 | ||
Short-term FHLB advances | 41,750 | 31,000 | ||
Long-term FHLB advances | 15,000 | 17,500 | ||
Securities sold under agreement to repurchase | 15,148 | 28,925 | ||
Subordinated debentures | 29,427 | 29,427 | ||
Accrued interest payable | 244 | 181 | ||
Swap liability | 1,706 | 1,839 | ||
Total Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,394 | 36,695 | ||
Securities available for sale | 229,419 | 195,864 | ||
Other securities | 14,247 | 14,055 | ||
Loans, held for sale | 4,662 | 2,268 | ||
Loans, net of allowance for loan losses | 1,130,083 | 1,047,329 | ||
Bank owned life insurance | 24,981 | 24,552 | ||
Accrued interest receivable | 4,999 | 3,854 | ||
Fair value swap asset | 1,706 | 1,839 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 947,262 | 913,677 | ||
Time deposits | 254,017 | 207,784 | ||
Short-term FHLB advances | 41,722 | 31,007 | ||
Long-term FHLB advances | 14,966 | 17,553 | ||
Securities sold under agreement to repurchase | 15,148 | 28,925 | ||
Subordinated debentures | 29,470 | 27,414 | ||
Accrued interest payable | 244 | 181 | ||
Swap liability | 1,706 | 1,839 | ||
(Level 1) [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,394 | 36,695 | ||
Other securities | 14,247 | 14,055 | ||
Loans, held for sale | 4,662 | 2,268 | ||
Bank owned life insurance | 24,981 | 24,552 | ||
Accrued interest receivable | 4,999 | 3,854 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 947,262 | 913,677 | ||
Short-term FHLB advances | 41,722 | 31,007 | ||
Securities sold under agreement to repurchase | 15,148 | 28,925 | ||
Accrued interest payable | 244 | 181 | ||
(Level 2) [Member] | ||||
Financial Assets: | ||||
Securities available for sale | 229,419 | 195,864 | ||
Fair value swap asset | 1,706 | 1,839 | ||
Financial Liabilities: | ||||
Swap liability | 1,706 | 1,839 | ||
(Level 3) [Member] | ||||
Financial Assets: | ||||
Loans, net of allowance for loan losses | 1,130,083 | 1,047,329 | ||
Financial Liabilities: | ||||
Time deposits | 254,017 | 207,784 | ||
Long-term FHLB advances | 14,966 | 17,553 | ||
Subordinated debentures | $ 29,470 | $ 27,414 |
Derivative Hedging Instrument76
Derivative Hedging Instruments - Summary of Interest Rate Swap Transactions (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
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 | $ 60,711,000 | $ 52,975,000 |
Weighted Average Rate Received/(Paid) | 5.09% | 5.07% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ 35,000 | $ 30,000 |
Repricing Frequency | Monthly | |
Derivative Financial Instruments, Liabilities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ (60,711,000) | $ (52,975,000) |
Weighted Average Rate Received/(Paid) | 5.09% | 5.07% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ (35,000) | $ (30,000) |
Repricing Frequency | Monthly |
Qualified Affordable Housing 77
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Investments In Affordable Housing Projects [Abstract] | |||||
Investment for qualified affordable housing projects included in other assets | $ 3,079,000 | $ 3,079,000 | $ 2,754,000 | ||
Unfunded commitments related to the investments in qualified affordable housing projects | 4,741,000 | 4,741,000 | $ 2,313,000 | ||
Recognized amortization expense | 82,000 | $ 77,000 | 247,000 | $ 231,000 | |
Recognized tax credits and other benefits from its investment in affordable housing tax credits | 138,000 | 147,000 | 414,000 | 442,000 | |
Impairment losses related to its investment in qualified affordable housing projects | $ 0 | $ 0 | $ 0 | $ 0 |