Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 28, 2020 | Jun. 30, 2019 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | CIVB | ||
Entity Registrant Name | CIVISTA BANCSHARES, INC. | ||
Entity Central Index Key | 0000944745 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Incorporation, State or Country Code | OH | ||
Entity File Number | 001-36192 | ||
Entity Tax Identification Number | 34-1558688 | ||
Entity Address, Address Line One | 100 East Water Street | ||
Entity Address, City or Town | Sandusky | ||
Entity Address, State or Province | OH | ||
Entity Address, Postal Zip Code | 44870 | ||
City Area Code | 419 | ||
Local Phone Number | 625-4121 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Interactive Data Current | Yes | ||
Title of 12(b) Security | Common shares, no par value | ||
Security Exchange Name | NASDAQ | ||
Entity Common Stock, Shares Outstanding | 16,541,000 | ||
Entity Public Float | $ 336,720,623 | ||
Documents Incorporated by Reference | DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Annual Report to Shareholders for the fiscal year ended December 31, 2019 (the “2019 Annual Report”) are incorporated by reference into Parts I and II of this Form 10-K. Portions of the registrant’s Proxy Statement for the registrant’s 2020 Annual Meeting of Shareholders to be held on April 21, 2020 (the “2020 Proxy Statement”) are incorporated by reference into Part III of this Form 10-K. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from financial institutions | $ 48,535 | $ 42,779 |
Securities available for sale | 358,499 | 346,294 |
Equity securities | 1,191 | 1,070 |
Loans held for sale | 2,285 | 1,391 |
Loans, net of allowance of $14,767 and $13,679 | 1,694,203 | 1,548,262 |
Other securities | 20,280 | 21,021 |
Premises and equipment, net | 22,871 | 22,021 |
Accrued interest receivable | 7,093 | 6,723 |
Goodwill | 76,851 | 76,851 |
Other intangible assets | 8,305 | 9,352 |
Bank owned life insurance | 44,999 | 43,037 |
Other assets | 24,445 | 20,153 |
Total assets | 2,309,557 | 2,138,954 |
Deposits | ||
Noninterest-bearing | 512,553 | 468,083 |
Interest-bearing | 1,166,211 | 1,111,810 |
Total deposits | 1,678,764 | 1,579,893 |
Federal Home Loan Bank advances | 226,500 | 193,600 |
Securities sold under agreements to repurchase | 18,674 | 22,199 |
Subordinated debentures | 29,427 | 29,427 |
Accrued expenses and other liabilities | 26,066 | 14,937 |
Total liabilities | 1,979,431 | 1,840,056 |
SHAREHOLDERS’ EQUITY | ||
Preferred stock, no par value, 200,000 shares of Series B Preferred stock, $1,000 liquidation preference, authorized, 10,120 shares issued at December 31, 2018, net of issuance costs | 9,364 | |
Common stock, no par value, 20,000,000 shares authorized, 17,623,706 shares issued at December 31, 2019 and 16,351,463 shares issued at December 31, 2018 | 276,422 | 266,901 |
Accumulated earnings | 67,974 | 41,320 |
Treasury stock, 936,164 common shares at December 31, 2019 and 747,964 common shares at December 31, 2018, at cost | (21,144) | (17,235) |
Accumulated other comprehensive income (loss) | 6,874 | (1,452) |
Total shareholders’ equity | 330,126 | 298,898 |
Total liabilities and shareholders’ equity | $ 2,309,557 | $ 2,138,954 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Of Financial Position [Abstract] | ||
Allowance for loan losses | $ 14,767 | $ 13,679 |
Preferred stock, no par value | ||
Preferred stock, shares authorized | 200,000 | |
Preferred stock, liquidation preference | $ 1,000 | |
Preferred stock, shares issued | 10,120 | |
Common stock, no par value | ||
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 17,623,706 | 16,351,463 |
Treasury stock, common shares | 936,164 | 747,964 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest and dividend income | |||
Loans, including fees | $ 84,972 | $ 64,196 | $ 51,198 |
Taxable securities | 6,584 | 4,770 | 3,745 |
Tax-exempt securities | 5,647 | 3,976 | 3,153 |
Federal funds sold and other | 851 | 735 | 498 |
Total interest and dividend income | 98,054 | 73,677 | 58,594 |
Interest expense | |||
Deposits | 8,057 | 3,758 | 2,342 |
Federal Home Loan Bank advances | 3,452 | 2,471 | 695 |
Subordinated debentures | 1,423 | 1,320 | 1,035 |
Securities sold under agreements to repurchase | 22 | 21 | 20 |
Total interest expense | 12,954 | 7,570 | 4,092 |
Net interest income | 85,100 | 66,107 | 54,502 |
Provision for loan losses | 1,035 | 780 | |
Net interest income after provision for loan losses | 84,065 | 65,327 | 54,502 |
Noninterest income | |||
Service charges | 6,395 | 5,208 | 4,777 |
Net gain (loss) on sale of securities | 32 | (413) | 12 |
Net gain on equity securities | 121 | 26 | |
Net gain on sale of loans | 2,707 | 1,621 | 1,745 |
ATM/Interchange fees | 4,056 | 2,794 | 2,304 |
Wealth management fees | 3,670 | 3,669 | 3,068 |
Bank owned life insurance | 1,007 | 718 | 573 |
Tax refund processing fees | 2,750 | 2,750 | 2,750 |
Computer center item processing fees | 273 | 260 | 246 |
Net gain (loss) on sale of other real estate owned | 18 | (28) | |
Other | 1,432 | 1,480 | 887 |
Total noninterest income | 22,443 | 18,131 | 16,334 |
Noninterest expense | |||
Compensation expense | 39,156 | 37,299 | 29,253 |
Net occupancy expense | 3,835 | 3,363 | 2,689 |
Equipment expense | 2,246 | 1,654 | 1,564 |
Contracted data processing | 1,831 | 7,140 | 1,838 |
FDIC Assessment | 138 | 536 | 502 |
State franchise tax | 1,843 | 1,370 | 1,024 |
Professional services | 2,844 | 4,229 | 2,300 |
Amortization of intangible assets | 945 | 366 | 586 |
ATM expense | 1,887 | 1,069 | 847 |
Marketing expense | 1,411 | 1,182 | 817 |
Software maintenance expenses | 1,523 | 1,136 | 774 |
Other operating expenses | 9,288 | 7,335 | 6,410 |
Total noninterest expense | 66,947 | 66,679 | 48,604 |
Income before income taxes | 39,561 | 16,779 | 22,232 |
Income taxes | 5,683 | 2,640 | 6,360 |
Net income | 33,878 | 14,139 | 15,872 |
Preferred stock dividends | 647 | 959 | 1,244 |
Net income available to common shareholders | $ 33,231 | $ 13,180 | $ 14,628 |
Earnings per common share, basic | $ 2.12 | $ 1.10 | $ 1.48 |
Earnings per common share, diluted | $ 2.01 | $ 1.02 | $ 1.28 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net income | $ 33,878 | $ 14,139 | $ 15,872 |
Other comprehensive income (loss): | |||
Unrealized holding gains (loss) on available for sale securities | 13,336 | (709) | 987 |
Tax effect | (2,800) | 149 | (375) |
Pension liability adjustment | (2,797) | 646 | 1,129 |
Tax effect | 587 | (136) | (329) |
Total other comprehensive income (loss) | 8,326 | (50) | 1,412 |
Comprehensive income | $ 42,204 | $ 14,089 | $ 17,284 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) | Total | Preferred Shares [Member] | Common Shares [Member] | Accumulated Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning balance at Dec. 31, 2016 | $ 137,616,000 | $ 18,950,000 | $ 118,975,000 | $ 19,263,000 | $ (17,235,000) | $ (2,337,000) |
Beginning balance, shares at Dec. 31, 2016 | 20,481 | 8,343,509 | ||||
Net income | 15,872,000 | 15,872,000 | ||||
Other comprehensive income (loss) | 1,412,000 | 1,412,000 | ||||
Reclassification of certain income tax effects from accumulated other comprehensive loss | 199,000 | (199,000) | ||||
Conversion of Series B preferred shares to common shares | $ (1,592,000) | $ 1,592,000 | ||||
Conversion of Series B preferred shares to common shares, shares | (1,721) | 220,108 | ||||
Common share issuance, net of costs | 32,821,000 | $ 32,821,000 | ||||
Common stock issuance, net of costs, shares | 1,610,000 | |||||
Stock-based compensation | 426,000 | $ 426,000 | ||||
Stock-based compensation, shares | 25,069 | |||||
Common share dividends ($0.25, $0.32, and $0.42 per share for the year 2017, 2018 and 2019 respectively) | (2,438,000) | (2,438,000) | ||||
Preferred share dividends ($65.00 per share) | (1,244,000) | (1,244,000) | ||||
Retirement of common stock | (4,000) | $ (4,000) | ||||
Retirement of common stock, shares | (211) | |||||
Ending balance at Dec. 31, 2017 | 184,461,000 | $ 17,358,000 | $ 153,810,000 | 31,652,000 | (17,235,000) | (1,124,000) |
Ending balance, shares at Dec. 31, 2017 | 18,760 | 10,198,475 | ||||
Net income | 14,139,000 | 14,139,000 | ||||
Other comprehensive income (loss) | (50,000) | (50,000) | ||||
Change in accounting principle for adoption of ASU 2016-01 | 278,000 | (278,000) | ||||
Conversion of Series B preferred shares to common shares | $ (7,994,000) | $ 7,994,000 | ||||
Conversion of Series B preferred shares to common shares, shares | (8,640) | 1,104,735 | ||||
UCB acquisition | 104,669,000 | $ 104,669,000 | ||||
UCB acquisition, shares | 4,277,430 | |||||
Stock-based compensation | 428,000 | $ 428,000 | ||||
Stock-based compensation, shares | 22,859 | |||||
Common share dividends ($0.25, $0.32, and $0.42 per share for the year 2017, 2018 and 2019 respectively) | (3,790,000) | (3,790,000) | ||||
Preferred share dividends ($65.00 per share) | (959,000) | (959,000) | ||||
Ending balance at Dec. 31, 2018 | 298,898,000 | $ 9,364,000 | $ 266,901,000 | 41,320,000 | (17,235,000) | (1,452,000) |
Ending balance, shares at Dec. 31, 2018 | 10,120 | 15,603,499 | ||||
Net income | 33,878,000 | 33,878,000 | ||||
Other comprehensive income (loss) | 8,326,000 | 8,326,000 | ||||
Change in accounting principle for adoption of ASU 2016-01 | 0 | |||||
Conversion of Series B preferred shares to common shares | (404,000) | $ (9,364,000) | $ 8,990,000 | (30,000) | ||
Conversion of Series B preferred shares to common shares, shares | (10,120) | 1,242,683 | ||||
Stock-based compensation | 531,000 | $ 531,000 | ||||
Stock-based compensation, shares | 29,560 | |||||
Common share dividends ($0.25, $0.32, and $0.42 per share for the year 2017, 2018 and 2019 respectively) | (6,547,000) | (6,547,000) | ||||
Preferred share dividends ($65.00 per share) | (647,000) | (647,000) | ||||
Purchase of treasury stock | (3,909,000) | (3,909,000) | ||||
Purchase of treasury stock, shares | (188,200) | |||||
Ending balance at Dec. 31, 2019 | $ 330,126,000 | $ 276,422,000 | $ 67,974,000 | $ (21,144,000) | $ 6,874,000 | |
Ending balance, shares at Dec. 31, 2019 | 16,687,542 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - Accumulated Earnings [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common stock dividends per share | $ 0.42 | $ 0.32 | $ 0.25 |
Preferred stock dividends per share | $ 65 | $ 65 | $ 65 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Net income | $ 33,878 | $ 14,139 | $ 15,872 |
Adjustments to reconcile net income to net cash from operating activities | |||
Security amortization, net | 1,185 | 1,171 | 1,263 |
Depreciation | 2,240 | 1,515 | 1,249 |
Amortization of core deposit intangible | 945 | 366 | 586 |
Amortization of net deferred loan fees | 99 | 166 | 317 |
Net (gain) loss on sale of securities | (32) | 413 | (12) |
Net gain on equity securities | (121) | (26) | |
Provision for loan losses | 1,035 | 780 | |
Loans originated for sale | (126,690) | (78,252) | (76,493) |
Proceeds from sale of loans | 128,503 | 81,085 | 78,309 |
Net gain on sale of loans | (2,707) | (1,621) | (1,745) |
Net (gain) loss on sale of other real estate owned | (18) | 28 | |
(Gain) loss on sale of fixed assets | 33 | (147) | (67) |
Increase in cash surrender value of bank owned life insurance | (1,007) | (718) | (573) |
Share-based compensation | 531 | 428 | 426 |
Change in Accrued interest payable | 47 | (197) | 229 |
Accrued interest receivable | (370) | (1,285) | (634) |
Deferred taxes | 663 | 151 | 946 |
Other, net | 1,294 | 2,007 | 1,118 |
Net cash from operating activities | 39,526 | 19,957 | 20,819 |
Cash flows used for investing activities: | |||
Maturities, prepayments and calls of securities, available for sale | 54,055 | 42,114 | 34,379 |
Sales of securities, available for sale | 17,570 | 14,667 | 953 |
Purchases of securities, available for sale | (71,646) | (131,924) | (70,794) |
Purchases of other securities | (3,247) | (192) | |
Redemption of other securities | 741 | ||
Acquisition, net of cash acquired | 143,797 | ||
Purchases of bank owned life insurance | (955) | ||
Net loan originations | (147,075) | (99,277) | (109,737) |
Proceeds from sale of OREO properties | 34 | 87 | |
Premises and equipment purchases | (3,201) | (1,472) | (1,015) |
Proceeds from sale of premises and equipment | 2 | 1,190 | 139 |
Net cash used for investing activities | (150,509) | (34,118) | (146,180) |
Cash flows from financing activities: | |||
Increase (decrease) in deposits | 98,871 | (100,974) | 83,820 |
Net change in short-term FHLB advances | (87,100) | 131,700 | 25,900 |
Repayment of long-term FHLB advances | (5,000) | (10,000) | (2,500) |
Proceeds from long-term FHLB advances | 125,000 | ||
Net proceeds from issuance of common stock | 32,821 | ||
Increase (decrease) in securities sold under repurchase agreements | (3,525) | 444 | (7,170) |
Cash payment for repurchase of common stock | (3,909) | (4) | |
Cash payment for redemption of series B preferred stock | (402) | ||
Cash paid on fractional shares on preferred stock conversion | (2) | ||
Cash dividends paid | (7,194) | (4,749) | (3,682) |
Net cash from financing activities | 116,739 | 16,421 | 129,185 |
Increase in cash and due from financial institutions | 5,756 | 2,260 | 3,824 |
Cash and due from financial institutions at beginning of year | 42,779 | 40,519 | 36,695 |
Cash and due from financial institutions at end of year | 48,535 | 42,779 | 40,519 |
Supplemental disclosures of cash flow information: | |||
Interest paid | 12,907 | 7,751 | 3,863 |
Income taxes paid | 5,700 | 1,600 | 5,950 |
Transfer of loans from portfolio to other real estate owned | 94 | ||
Transfer of premises to held-for-sale | 76 | 3 | |
Transfer of loans held-for-sale to portfolio | 85 | ||
Securities purchased not settled | 1,200 | 500 | 1,291 |
Conversion of preferred stock to common stock | $ 8,960 | 7,994 | $ 1,592 |
Acquisition of UCB | |||
Consideration paid | 117,344 | ||
Noncash assets acquired: | |||
Securities available for sale | 43,214 | ||
Equity securities | 212 | ||
Loans held for sale | 492 | ||
Loans receivable | 298,319 | ||
FHLB Stock | 3,527 | ||
Accrued interest receivable | 950 | ||
Premises and equipment, net | 5,291 | ||
Goodwill | 49,756 | ||
Core deposit intangible | 7,518 | ||
Bank owned life insurance | 17,193 | ||
Other assets | 10,361 | ||
Total non cash assets acquired | 436,833 | ||
Liabilities assumed: | |||
Deposits | 475,944 | ||
Other liabilities | 17 | ||
Total liabilities assumed | 475,961 | ||
Net noncash liabilities acquired | (39,128) | ||
Cash acquired | $ 156,472 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the accounting policies adopted by Civista Bancshares, Inc., which have a significant effect on the Consolidated Financial Statements. Nature of Operations and Principles of Consolidation Civista provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Summit, Huron, Ottawa, Madison, Montgomery and Richland, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton. 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. There are no significant concentrations of loans to any one industry or customer. However, our customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions. FCIA was formed to allow the Company to participate in commission revenue generated through its third party insurance agreement. Insurance commission revenue was less than 1.0% of total revenue for each of the years ended December 31, 2019, 2018 and 2017. WSP was formed to hold repossessed assets of CBI’s subsidiaries. WSP revenue was less than 1% of total revenue for each of the years ended December 31, 2019, 2018 and 2017. FCRS was formed in 2012 to facilitate payment of individual state and federal tax refunds. The operations of FCRS were discontinued June 30, 2019. CRMI was formed in 2017 to provide property and casualty insurance coverage to CBI and its’ subsidiaries for which insurance may not be currently available or economically feasible in the insurance marketplace. CRMI revenue was less than 1% of total revenue for each of the years ended December 31, 2019, 2018 and 2017. Use of Estimates Cash Flows Securities NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold using the specific identification method. Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis, the magnitude and duration of the decline, the reasons underlying the decline and the Company’s intent to sell the security or whether it is more likely than not that the Company would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Company does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between far value and amortized cost is charged to earnings. Other securities which include FHLB stock, Federal Reserve Bank (“FRB”) stock, Federal Agricultural Mortgage Corporation stock, Bankers’ Bancshares Inc. (“BB”) stock, and Norwalk Community Development Corp (“NCDC”) stock are carried at cost. Equity securities Loans Held for Sale: Loans: Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Interest income on consumer loans is discontinued when management determines future collection is unlikely. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not received, for loans placed on nonaccrual, is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Purchased Loans: Purchased loans are accounted for individually or aggregated into pools of loans based on common risk characteristics (e.g., credit score, loan type, and date of origination). The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s, or pool’s, contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected future cash flows is greater than the carrying amount, the excess is recognized as part of future interest income. Allowance for Loan Losses: All commercial, commercial real estate and farm real estate loans are monitored on a regular basis with a detailed loan review completed for all loan relationships greater than $750. All commercial, commercial real estate and farm real estate loans that are 90 days past due or in nonaccrual status, are analyzed to determine if they are “impaired”, which means that it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. All loans that are delinquent 90 days are classified as substandard and placed on nonaccrual status unless they are well-secured and in the process of collection. The remaining loans are evaluated and segmented with loans with similar risk characteristics. The Company allocates reserves based on risk categories and portfolio segments described below, which conform to the Company’s asset classification policy. In reviewing risk within Civista’s loan portfolio, management has identified specific segments to categorize loan portfolio risk: (i) Commercial & Agriculture loans; (ii) Commercial Real Estate – Owner Occupied loans; (iii) Commercial Real Estate – Non-Owner Occupied loans; (iv) Residential Real Estate loans; (v) Real Estate Construction loans; (vi) Farm Real Estate loans; and (vii) Consumer and Other loans. Additional information related to economic factors can be found in Note 5. Loan Charge-off Policies: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Troubled Debt Restructurings: Other Real Estate: Premises and Equipment: Federal Home Loan Bank (FHLB) Stock a b c d Federal Reserve Bank (FRB) Stock Bank Owned Life Insurance (BOLI) Goodwill and Other Intangible Assets: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Other intangible assets consist of core deposit intangibles arising from whole bank and branch acquisitions. These intangible assets are measured at fair value and then amortized on an accelerated method over their estimated useful lives, which range from five to twelve years. Servicing Rights Long-term Assets: Repurchase Agreements Loan Commitments and Related Financial Instruments: Income Taxes The Company prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Stock-Based Compensation NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Retirement Plans Earnings per Common Share Comprehensive Income Loss Contingencies Restrictions on Cash Dividend Restriction Fair Value of Financial Instruments Operating Segments Business Combinations: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Derivative Instruments and Hedging Activities Derivatives and Hedging Reclassifications: Adoption of New Accounting Standards: In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). Effective January 1, 2019, the Company adopted ASU 2016-02, Leases Targeted Improvements to ASC 842 Leases Additional information and disclosures required by this new standard are contained in Note 27, 'Leases' NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Effect of Newly Issued but Not Yet Effective Accounting Standards: In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment Intangibles – Goodwill and Other NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes the Disclosure Requirements for Fair Value Measurements In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, and Topic 825, Financial Instruments, Topic 326, Financial Instruments – Credit Losses The Company is currently evaluating the potential impact of the Topic 326 amendments on the Company’s Consolidated Financial Statements. The amendments to Topic 825 are effective for interim and annual reporting periods beginning after December 15, 2019. Financial Instruments – Credit Losses This Update is not expected to have a material impact on the Company’s financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses, Topic 326 Financial Instruments – Credit Losses In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Intangibles ‒ Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (Goodwill) NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses |
Merger
Merger | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Merger | NOTE 2 – MERGER On September 14, 2018, CBI completed the acquisition by merger of United Community Bancorp (“UCB”) in a stock and cash transaction for aggregate consideration of approximately $117,344. Acquisition-related costs of $5,231, $5,515, $1,638, $131 and $220 are included in compensation expense, contracted data processing, professional services, marketing expense and other operating expense, respectively, in the Company’s Consolidated Statements of Operation for the year ended December 31, 2018. As a result of the acquisition, the Company issued 4,277,430 common shares and paid approximately $12,675 in cash to the former shareholders of UCB. At the time of the merger, UCB had total assets of $537,875, including $298,319 in loans, and $475,944 in deposits. The transaction was recorded as a purchase and, accordingly, the operating results of UCB have been included in the Company’s Consolidated Financial Statements since the close of business on September 14, 2018. As of December 31, 2019, the estimated future amortization expense for the core deposit intangible related to UCB is as follows: Core deposit intangibles 2020 $ 842 2021 823 2022 800 2023 773 2024 742 Thereafter 2,427 $ 6,407 The following table presents financial information for the former UCB included in the Consolidated Statements of Operations from the date of acquisition through December 31, 2018. Actual From Acquisition Date Through December 31, 2018 (in thousands) Net interest income after provision for loan losses $ 3,227 Noninterest income 373 Net income 1,707 NOTE 2 – MERGER (Continued) The following table presents unaudited pro forma information for the periods ended December 31, 2019, 2018 and 2017 as if the acquisition of UCB had occurred on January 1, 2017. This table has been prepared for comparative purposes only and is not indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results. Pro Formas (unaudited) Twelve months ended December 31, 2019 2018 2017 Net interest income after provision for loan losses $ 83,825 $ 74,642 $ 70,100 Noninterest income 22,443 18,331 20,782 Net income 33,653 18,984 19,284 Pro forma earnings per share: Basic $ 2.11 $ 1.51 $ 1.82 Diluted $ 2.00 $ 1.37 $ 1.56 The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for UCB. Core deposit intangibles will be amortized over a period of ten years using an accelerated method. Goodwill will not be amortized, but instead will be evaluated for impairment. Furthermore, the unaudited pro forma information does not reflect management’s estimate of any revenue-enhancing opportunities nor anticipated cost savings as a result of the integration and consolidation of the acquisition. Consideration paid $ 117,344 Net assets acquired: Cash and due from financial institutions $ 156,472 Securities available for sale 43,214 Equity securities 212 Loans held for sale 492 Loans, net 298,319 Other securities 3,527 Premises and equipment 5,291 Accrued interest receivable 950 Core deposit intangible 7,518 Bank owned life insurance 17,193 Other assets 10,361 Noninterest-bearing deposits (112,787 ) Interest-bearing deposits (363,157 ) Other liabilities (17 ) 67,588 Goodwill resulting from UCB merger $ 49,756 NOTE 2 – MERGER (Continued) The acquired assets and liabilities were measured at estimated fair values. Management made certain estimates and exercised judgment in accounting for the acquisition. The following is a description of the methods used to determine fair value of significant assets and liabilities at the acquisition date: Cash: Loans: Deposits: This acquisition provided the Company with the strategic opportunity to expand into new markets that, while similar to existing markets, are projected to be more vibrant in population growth and business opportunity growth. Additionally, the acquisition will provide exposure to suburbs of larger urban areas without the commitment of operating inside large metropolitan areas dominated by regional and national financial organizations. The acquisition also creates synergies on the operational side of the Company by allowing noninterest expenses to be spread over a larger operating base. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2019 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | NOTE 3 - SECURITIES The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2019 U.S. Treasury securities and obligations of U.S. government agencies $ 19,401 $ 204 $ (4 ) $ 19,601 Obligations of states and political subdivisions 193,646 12,409 (21 ) 206,034 Mortgage-back securities in government sponsored entities 129,145 3,863 (144 ) 132,864 Total debt securities $ 342,192 $ 16,476 $ (169 ) $ 358,499 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2018 U.S. Treasury securities and obligations of U.S. government agencies $ 30,623 $ 202 $ (140 ) $ 30,685 Obligations of states and political subdivisions 168,993 3,680 (602 ) 172,071 Mortgage-back securities in government sponsored entities 143,707 1,024 (1,193 ) 143,538 Total debt securities $ 343,323 $ 4,906 $ (1,935 ) $ 346,294 The amortized cost and fair value of securities at year end 2019 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 11,124 $ 11,166 Due from one to five years 14,756 15,062 Due from five to ten years 26,117 27,173 Due after ten years 161,050 172,234 Mortgage-backed securities in government sponsored entities 129,145 132,864 Total securities available for sale $ 342,192 $ 358,499 Securities with a carrying value of $139,004 and $114,145 were pledged as of December 31, 2019 and 2018, respectively, to secure public deposits, other deposits and liabilities as required or permitted by law. NOTE 3 – SECURITIES (Continued) Proceeds from sales of securities, gross realized gains and gross realized losses were as follows: 2019 2018 2017 Sale proceeds $ 17,570 $ 14,667 $ 953 Gross realized gains 47 6 — Gross realized losses 43 393 — Gains (losses) from securities called or settled by the issuer 28 (26 ) 12 Debt securities with unrealized losses at year end 2019 and 2018 not recognized in income were as follows: 2019 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 $ — $ — $ 3,408 $ (4 ) $ 3,408 $ (4 ) Obligations of states and political subdivisions 1,947 (21 ) — — 1,947 (21 ) Mortgage-backed securities in gov’t sponsored entities 10,653 (91 ) 7,732 (53 ) 18,385 (144 ) Total temporarily impaired $ 12,600 $ (112 ) $ 11,140 $ (57 ) $ 23,740 $ (169 ) 2018 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 $ — $ — $ 16,469 $ (140 ) $ 16,469 $ (140 ) Obligations of states and political subdivisions 8,008 (71 ) 25,890 (531 ) 33,898 (602 ) Mortgage-backed securities in gov’t sponsored entities 6,630 (90 ) 40,333 (1,103 ) 46,963 (1,193 ) Total temporarily impaired $ 14,638 $ (161 ) $ 82,692 $ (1,774 ) $ 97,330 $ (1,935 ) The Company periodically evaluates securities for other-than-temporary impairment. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. Unrealized losses that are determined to be temporary in nature are recorded, net of tax, in accumulated other comprehensive loss on the Consolidated Balance Sheet. The Company has assessed each available-for-sale security position for credit impairment. Factors considered in determining whether a loss is temporary include: • The length of time and the extent to which fair value has been below cost; • The severity of impairment; • The cause of the impairment and the financial condition and near-term prospects of the issuer; • If the Company intends to sell the investment; • If it’s more-likely-than-not the Company will be required to sell the investment before recovering its amortized cost basis; and • If the Company does not expect to recover the investment’s entire amortized cost basis (even if the Company does not intend to sell the investment). NOTE 3 – SECURITIES (Continued) The Company’s review for impairment generally entails: • Identification and evaluation of investments that have indications of impairment; • Analysis of individual investments that have fair values less than amortized cost, including consideration of length of time each investment has been in unrealized loss position and the expected recovery period; • Evaluation of factors or triggers that could cause individual investments to qualify as having other-than-temporary impairment; and • Documentation of these analyses, as required by policy. At December 31, 2019, the Company owned 35 securities that were considered temporarily impaired. The unrealized losses on these securities have not been recognized into income because the issuers’ bonds 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 changes in market interest rates. The Company also considers sector specific credit rating changes in its analysis. 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. The following table presents the net gains and losses on equity investments recognized in earnings at year-end 2019 and 2018, and the portion of unrealized gains and losses for the period that relates to equity investments held at year-end 2019 and 2018: 2019 2018 Net gains recognized on equity securities during the year $ 121 $ 26 Less: Net gains (losses) realized on the sale of equity securities during the period — — Unrealized gains recognized in equity securities held at December 31 $ 121 $ 26 |
Loans
Loans | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Loans | NOTE 4 - LOANS Loans at year-end were as follows: 2019 2018 Commercial and Agriculture $ 203,110 $ 177,101 Commercial Real Estate - owner occupied 245,606 210,121 Commercial Real Estate - non-owner occupied 592,222 523,598 Residential Real Estate 463,032 457,850 Real Estate Construction 155,825 135,195 Farm Real Estate 34,114 38,513 Consumer and Other 15,061 19,563 Total Loans 1,708,970 1,561,941 Allowance for loan losses (14,767 ) (13,679 ) Net loans $ 1,694,203 $ 1,548,262 Included in total loans above are deferred loan fees of $488 and $389 at December 31, 2019 and 2018, respectively. NOTE 4 – LOANS (Continued) Loans to principal officers, directors, and their affiliates at year-end 2019 and 2018 were as follows: 2019 2018 Balance - Beginning of year $ 8,722 $ 14,002 New loans and advances 3,057 3,308 Repayments (2,574 ) (2,324 ) Effect of changes to related parties 704 (6,264 ) Balance - End of year $ 9,909 $ 8,722 |
Allowance for Loan Losses
Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Allowance for Loan Losses | NOTE 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 losses, the Company has segmented certain loans in the portfolio by product type. Loans are segmented into the following pools: Commercial and Agriculture loans, Commercial Real Estate – Owner Occupied loans, Commercial Real Estate – Non-owner Occupied loans, Residential Real Estate loans, Real Estate Construction loans, Farm Real Estate loans and Consumer and Other loans. 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 the 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 consolidated balance sheet date. The Company considers the allowance for loan losses of $14,767 adequate to cover loan losses inherent in the loan portfolio, at December 31, 2019. The following tables present, by portfolio segment, the changes in the allowance for loan losses, the ending allocation of the allowance for loan losses and the loan balances outstanding for the years ended December 31, 2019, 2018 and 2017. The changes can be impacted by overall loan volume, adversely graded loans, historical charge-offs and economic factors. NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) Allowance for loan losses: December 31, 2019 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 1,747 $ (114 ) $ 86 $ 500 $ 2,219 Commercial Real Estate: Owner Occupied 1,962 (161 ) 289 451 2,541 Non-Owner Occupied 5,803 — 102 679 6,584 Residential Real Estate 1,531 (294 ) 259 86 1,582 Real Estate Construction 1,046 (24 ) 3 225 1,250 Farm Real Estate 397 — 5 (58 ) 344 Consumer and Other 284 (183 ) 85 61 247 Unallocated 909 — — (909 ) — Total $ 13,679 $ (776 ) $ 829 $ 1,035 $ 14,767 For the year ended December 31, 2019, the allowance for Commercial & Agriculture loans increased as a result of an increase in general reserves due to higher loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Owner Occupied loans increased as a result of an increase in general reserves due to higher loan balances. 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. The allowance for Residential Real Estate loans increased as a result of an increase in general reserves required for this type as a result of an increase in outstanding loan balances, represented by an increase 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. 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. NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) Allowance for loan losses: December 31, 2018 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 1,562 $ (249 ) $ 169 $ 265 $ 1,747 Commercial Real Estate: Owner Occupied 2,043 (193 ) 158 (46 ) 1,962 Non-Owner Occupied 5,307 (153 ) 28 621 5,803 Residential Real Estate 1,910 (105 ) 208 (482 ) 1,531 Real Estate Construction 834 — — 212 1,046 Farm Real Estate 430 — 5 (38 ) 397 Consumer and Other 290 (203 ) 100 97 284 Unallocated 758 — — 151 909 Total $ 13,134 $ (903 ) $ 668 $ 780 $ 13,679 For the year ended December 31, 2018, the allowance for Commercial & Agriculture loans increased as a result of an increase in general reserves due to higher loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Owner Occupied 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 – 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. NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) Allowance for loan losses: December 31, 2017 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 2,018 $ (11 ) $ 372 $ (817 ) $ 1,562 Commercial Real Estate: Owner Occupied 2,171 (328 ) 69 131 2,043 Non-Owner Occupied 4,606 (38 ) 46 693 5,307 Residential Real Estate 3,089 (400 ) 194 (973 ) 1,910 Real Estate Construction 420 — 44 370 834 Farm Real Estate 442 — 3 (15 ) 430 Consumer and Other 314 (165 ) 43 98 290 Unallocated 245 — — 513 758 Total $ 13,305 $ (942 ) $ 771 $ — $ 13,134 For the year ended December 31, 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. NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of December 31, 2019 and December 31, 2018. December 31, 2019 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 2,219 $ 2,219 Commercial Real Estate: Owner Occupied — 9 2,532 2,541 Non-Owner Occupied — — 6,584 6,584 Residential Real Estate — 82 1,500 1,582 Real Estate Construction — — 1,250 1,250 Farm Real Estate — — 344 344 Consumer and Other — — 247 247 Unallocated — — — — Total $ — $ 91 $ 14,676 $ 14,767 Outstanding loan balances: Commercial & Agriculture $ — $ 367 $ 202,743 $ 203,110 Commercial Real Estate: Owner Occupied — 426 245,180 245,606 Non-Owner Occupied — 374 591,848 592,222 Residential Real Estate 467 1,764 460,801 463,032 Real Estate Construction — — 155,825 155,825 Farm Real Estate — 666 33,448 34,114 Consumer and Other — — 15,061 15,061 Total $ 467 $ 3,597 $ 1,704,906 $ 1,708,970 NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) December 31, 2018 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 1,747 $ 1,747 Commercial Real Estate: Owner Occupied — 12 1,950 1,962 Non-Owner Occupied — — 5,803 5,803 Residential Real Estate 8 122 1,401 1,531 Real Estate Construction — — 1,046 1,046 Farm Real Estate — 7 390 397 Consumer and Other — — 284 284 Unallocated — — 909 909 Total $ 8 $ 141 $ 13,530 $ 13,679 Outstanding loan balances: Commercial & Agriculture $ 41 $ 367 $ 176,693 $ 177,101 Commercial Real Estate: Owner Occupied — 484 209,637 210,121 Non-Owner Occupied — 31 523,567 523,598 Residential Real Estate 883 1,279 455,688 457,850 Real Estate Construction — — 135,195 135,195 Farm Real Estate — 696 37,817 38,513 Consumer and Other — — 19,563 19,563 Total $ 924 $ 2,857 $ 1,558,160 $ 1,561,941 The following tables represent credit exposures by internally assigned risk ratings for the periods ended December 31, 2019 and 2018. The remaining loans in the Residential Real Estate, Real Estate Construction and Consumer and Other loan categories that are not assigned a risk grade are presented in a separate table below. 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 rating system is based on experiences with similarly graded loans. The Company’s internally assigned grades are as follows: • Pass – loans which are protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. • Special Mention – loans where a potential weakness or risk exists, which could cause a more serious problem if not corrected. • Substandard – loans that have a well-defined weakness based on objective evidence and are characterized by the distinct possibility that Civista will sustain some loss if the deficiencies are not corrected. • Doubtful – loans classified as doubtful have all the weaknesses inherent in a substandard asset. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable, based on existing circumstances. • Loss – loans classified as a loss are considered uncollectible, or of such value that continuance as an asset is not warranted. • Unrated – 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. NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) December 31, 2019 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 199,649 $ 2,236 $ 1,225 $ — $ 203,110 Commercial Real Estate: Owner Occupied 237,171 5,617 2,818 — 245,606 Non-Owner Occupied 588,633 2,155 1,434 — 592,222 Residential Real Estate 73,289 528 6,495 — 80,312 Real Estate Construction 145,251 — 9 — 145,260 Farm Real Estate 30,808 567 2,739 — 34,114 Consumer and Other 1,289 — 6 — 1,295 Total $ 1,276,090 $ 11,103 $ 14,726 $ — $ 1,301,919 December 31, 2018 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 173,783 $ 1,509 $ 1,809 $ — $ 177,101 Commercial Real Estate: Owner Occupied 201,228 3,512 5,381 — 210,121 Non-Owner Occupied 520,487 2,023 1,088 — 523,598 Residential Real Estate 70,908 580 7,363 — 78,851 Real Estate Construction 124,769 13 41 — 124,823 Farm Real Estate 32,908 3,096 2,509 — 38,513 Consumer and Other 1,713 — 20 — 1,733 Total $ 1,125,796 $ 10,733 $ 18,211 $ — $ 1,154,740 The following tables present performing and nonperforming loans based solely on payment activity for the years ended December 31, 2019 and December 31, 2018 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. December 31, 2019 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 382,720 $ 10,565 $ 13,766 $ 407,051 Nonperforming — — — — Total $ 382,720 $ 10,565 $ 13,766 $ 407,051 December 31, 2018 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 378,999 $ 10,372 $ 17,830 $ 407,201 Nonperforming — — — — Total $ 378,999 $ 10,372 $ 17,830 $ 407,201 NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) The following tables include an aging analysis of the recorded investment of past due loans outstanding as of December 31, 2019 and 2018. December 31, 2019 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 $ 27 $ 35 $ 106 $ 168 $ 202,942 $ — $ 203,110 $ — Commercial Real Estate: Owner Occupied 453 63 663 1,179 244,427 — 245,606 — Non-Owner Occupied — — 8 8 592,214 — 592,222 — Residential Real Estate 2,399 198 1,775 4,372 458,193 467 463,032 — Real Estate Construction — — — — 155,825 — 155,825 — Farm Real Estate — — 7 7 34,107 — 34,114 — Consumer and Other 129 46 — 175 14,886 — 15,061 — Total $ 3,008 $ 342 $ 2,559 $ 5,909 $ 1,702,594 $ 467 $ 1,708,970 $ — December 31, 2018 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 $ 225 $ — $ 92 $ 317 $ 176,743 $ 41 $ 177,101 $ — Commercial Real Estate: Owner Occupied 547 413 564 1,524 208,597 — 210,121 — Non-Owner Occupied 288 290 372 950 522,648 — 523,598 — Residential Real Estate 7,118 677 806 8,601 448,366 883 457,850 — Real Estate Construction — 12 27 39 135,156 — 135,195 — Farm Real Estate 33 — 158 191 38,322 — 38,513 — Consumer and Other 117 57 9 183 19,380 — 19,563 — Total $ 8,328 $ 1,449 $ 2,028 $ 11,805 $ 1,549,212 $ 924 $ 1,561,941 $ — The following table presents loans on nonaccrual status, excluding purchased credit-impaired (PCI) loans, as of December 31, 2019 and 2018. 2019 2018 Commercial & Agriculture $ 173 $ 270 Commercial Real Estate: Owner Occupied 938 942 Non-Owner Occupied 8 374 Residential Real Estate 4,183 3,886 Real Estate Construction 9 41 Farm Real Estate 284 338 Consumer and Other 4 18 Total $ 5,599 $ 5,869 NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) 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 estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates. TDRs accounted for $91 of the allowance for loan losses as of December 31, 2019, $141 as of December 31, 2018 and $169 as of December 31, 2017. Loan modifications that are considered TDRs completed during the twelve month periods ended December 31, 2019, 2018 and 2017 were as follows: For the Twelve Month Period Ended December 31, 2019 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied 1 382 382 Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 382 $ 382 NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) For the Twelve Month Period Ended December 31, 2018 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate 1 23 23 Real Estate Construction — — — Farm Real Estate 1 110 110 Consumer and Other — — — Total Loan Modifications 2 $ 133 $ 133 For the Twelve Month Period Ended December 31, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate 1 13 13 Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 13 $ 13 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 originations loans, so modified loans present a higher risk of loss than do new origination loans. During the periods ended December 31, 2019, 2018 and 2017, there were no defaults on loans that were modified and considered TDRs during the previous twelve months. Impaired Loans: NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) 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 December 31, 2019 and 2018. December 31, 2019 December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial & Agriculture $ 367 $ 367 $ 367 $ 367 Commercial Real Estate: Owner Occupied 168 168 193 193 Non-Owner Occupied 374 374 31 34 Residential Real Estate 1,571 1,643 1,017 1,089 Farm Real Estate 666 666 256 256 Total 3,146 3,218 1,864 1,939 With an allowance recorded: Commercial Real Estate: Owner Occupied 258 258 $ 9 291 291 $ 12 Residential Real Estate 193 197 82 262 265 122 Farm Real Estate — — — 440 440 7 Total 451 455 91 993 996 141 Total: Commercial & Agriculture 367 367 — 367 367 — Commercial Real Estate: Owner Occupied 426 426 9 484 484 12 Non-Owner Occupied 374 374 — 31 34 — Residential Real Estate 1,764 1,840 82 1,279 1,354 122 Farm Real Estate 666 666 — 696 696 7 Total $ 3,597 $ 3,673 $ 91 $ 2,857 $ 2,935 $ 141 NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) The following tables include the average recorded investment and interest income recognized for impaired financing receivables as of, and for the years ended, December 31, 2019, 2018 and 2017. For the year ended: December 31, 2019 December 31, 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 367 $ 33 $ 636 $ 25 Commercial Real Estate: Owner Occupied 456 32 610 33 Non-Owner Occupied 308 20 39 5 Residential Real Estate 1,271 58 1,519 75 Farm Real Estate 683 29 716 29 Total $ 3,085 $ 172 $ 3,520 $ 167 For the year ended: December 31, 2017 Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 1,375 $ 34 Commercial Real Estate: Owner Occupied 1,507 75 Non-Owner Occupied 233 6 Residential Real Estate 1,515 73 Farm Real Estate 613 28 Total $ 5,243 $ 216 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 December 31, 2019 and 2018, respectively, there were no foreclosed assets included in other assets. As of December 31, 2019 and 2018, the Company had initiated formal foreclosure procedures on $1,022 and $311, respectively, of consumer residential mortgages. Changes in the amortizable yield for PCI loans were as follows, since acquisition: At December 31, 2019 At December 31, 2018 (In Thousands) (In Thousands) Balance at beginning of period $ 336 $ 15 Acquisition of PCI loans — 334 Accretion (164 ) (13 ) Transfers from non-accretable to accretable 83 — Balance at end of period $ 255 $ 336 NOTE 5 - ALLOWANCE FOR LOAN LOSSES (Continued) The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At December 31, 2019 At December 31, 2018 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 $ 1,149 $ 1,805 Carrying amount 467 924 There was $0 and $8 in allowance for loan losses recorded for acquired loans with or without specific evidence of deterioration in credit quality as of December 31, 2019 and 2018, respectively. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | NOTE 6 - OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, as of December 31, 2019, 2018 and 2017. For the Year Ended December 31, 2019 For the Year Ended December 31, 2018 For the Year Ended December 31, 2017 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 Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Beginning balance $ 2,347 $ (3,799 ) $ (1,452 ) $ 3,185 $ (4,309 ) $ (1,124 ) $ 2,008 $ (4,345 ) $ (2,337 ) Other comprehensive income (loss) before reclassifications 10,561 (2,333 ) 8,228 (886 ) 393 (493 ) 620 553 1,173 Amounts reclassified from accumulated other comprehensive income (loss) (25 ) 123 98 326 117 443 (8 ) 247 239 Net current-period other comprehensive income (loss) 10,536 (2,210 ) 8,326 (560 ) 510 (50 ) 612 800 1,412 Reclassification of certain income tax effects from accumulated other comprehensive income (loss) — — — — — — 565 (764 ) (199 ) Reclassification of equity securities from accumulated other comprehensive income (loss) — — — (278 ) — (278 ) — — — Ending balance $ 12,883 $ (6,009 ) $ 6,874 $ 2,347 $ (3,799 ) $ (1,452 ) $ 3,185 $ (4,309 ) $ (1,124 ) NOTE 6 - OTHER COMPREHENSIVE INCOME (LOSS ) (Continued) The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss as of December 31, 2019, 2018 and 2017. Amount Reclassified from Accumulated Other Comprehensive Loss (a) For the year ended December 31, Details about Accumulated Other Comprehensive Income (Loss) Components 2019 2018 2017 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains (losses) on available-for-sale securities $ 32 $ (413 ) $ 12 Net gain (loss) on sale of securities Tax effect (7 ) 87 (4 ) Income taxes 25 (326 ) 8 Amortization of defined benefit pension items Actuarial losses (156 ) (b) (149 ) (b) (380 ) (b) Other operating expenses Tax effect 33 32 133 Income taxes (123 ) (117 ) (247 ) Total reclassifications for the period $ (98 ) $ (443 ) $ (239 ) (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Property Plant And Equipment [Abstract] | |
Premises and Equipment | NOTE 7 - PREMISES AND EQUIPMENT Year-end premises and equipment were as follows: 2019 2018 Land and improvements $ 6,651 $ 6,553 Buildings and improvements 28,047 27,013 Furniture and equipment 21,988 20,831 Total 56,686 54,397 Accumulated depreciation (33,815 ) (32,376 ) Premises and equipment, net $ 22,871 $ 22,021 Depreciation expense was $2,240, $1,515 and $1,249 for 2019, 2018 and 2017, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | NOTE 8 - GOODWILL AND INTANGIBLE ASSETS There was no change in the carrying amount of goodwill of $76,851 for the year ends December 31, 2019 and December 31, 2018. Management performs an evaluation of goodwill for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management performed an evaluation of the Company’s goodwill during the fourth quarter of 2019. Based on this test, management concluded that the Company’s goodwill was not impaired at December 31, 2019. Acquired intangible assets were as follows as of year end. 2019 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Core deposit intangible assets(1): Core deposit intangibles 14,792 8,049 6,743 14,792 7,104 7,688 Total core deposit intangible assets $ 14,792 $ 8,049 $ 6,743 $ 14,792 $ 7,104 $ 7,688 (1) Excludes fully amortized core deposit intangible assets Aggregate core deposit intangible amortization expense was $945, $366 and $586 for 2019, 2018 and 2017, respectively. Activity for mortgage servicing rights (MSRs) and the related valuation allowance follows: 2019 2018 Loan Servicing Rights: Beginning of year $ 1,664 $ 743 Additions 247 1,047 Disposals — — Amortized to expense 247 126 Other Charges — — Change in valuation allowance 102 — End of year $ 1,562 $ 1,664 Valuation allowance: Beginning of year $ — $ — Additions expensed 102 — Reductions credited to operations — — Direct write-offs — — End of year $ 102 $ — Aggregate mortgage servicing rights (MSRs) amortization was $247, $126 and $72 for 2019, 2018 and 2017, respectively. NOTE 8 - GOODWILL AND INTANGIBLE ASSETS (Continued) Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit intangibles Total 2020 $ 89 $ 914 $ 1,003 2021 89 891 980 2022 88 868 956 2023 87 840 927 2024 86 804 890 Thereafter 1,123 2,426 3,549 $ 1,562 $ 6,743 $ 8,305 |
Interest-Bearing Deposits
Interest-Bearing Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Interest-Bearing Deposits | NOTE 9 - INTEREST-BEARING DEPOSITS Interest-bearing deposits as of December 31, 2019 and 2018 were as follows: 2019 2018 Demand $ 301,674 $ 261,996 Savings and Money markets 588,697 582,128 Certificates of Deposit: $250 and over 58,290 42,815 Other 168,928 173,445 Individual Retirement Accounts 48,622 51,426 Total $ 1,166,211 $ 1,111,810 Scheduled maturities of certificates of deposit, including IRA’s at December 31, 2019 were as follows: 2020 $ 171,220 2021 73,991 2022 23,344 2023 4,986 2024 1,261 Thereafter 1,038 Total $ 275,840 Deposits from the Company’s principal officers, directors, and their affiliates at year-end 2019 and 2018 were $8,917 and $6,925, respectively. As of December 31, 2019, CDs and IRAs totaling $61,552 met or exceeded the FDIC’s insurance limit of $250,000. |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | NOTE 10 - SHORT-TERM BORROWINGS Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: At December 31, 2019 At December 31, 2018 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ 101,500 $ — $ 188,600 Maximum indebtedness during the year 20,000 192,700 20,000 225,300 Average balance during the year 137 112,088 116 113,520 Average rate paid during the year 2.19 % 2.32 % 2.58 % 2.07 % Interest rate on year end balance — 1.63 % — 2.45 % At December 31, 2017 Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ 56,900 Maximum indebtedness during the year 20,000 115,050 Average balance during the year 119 38,825 Average rate paid during the year 1.68 % 1.12 % Interest rate on year end balance — 1.42 % Average balances during the year represent daily averages. Average interest rates represent 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 December 31, 2019, 2018 and 2017. |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
Federal Home Loan Bank Advances | NOTE 11 - FEDERAL HOME LOAN BANK ADVANCES Long-term advances from the FHLB were $125,000 at December 31, 2019 and $5,000 at December 31, 2018. Outstanding balances have maturity dates ranging from May 2029 to October 2029 with fixed rates ranging from 1.03% to 2.05%. The average rate on outstanding advances was 1.44% at December 31, 2019. Outstanding advances are prepayable in whole only and are subject to a termination fee. Scheduled principal reductions of FHLB advances outstanding at December 31, 2019 were as follows: 2029 $ 125,000 Total $ 125,000 In addition to the borrowings, the Company had outstanding letters of credit with the FHLB totaling $20,000 at year-end 2019 and 2018, respectively, used for pledging to secure public funds. FHLB borrowings and the letters of credit were collateralized by FHLB stock and by $369,750 and $320,400 of residential mortgage loans under a blanket lien arrangement at year-end 2019 and 2018, respectively. The Company had a FHLB maximum borrowing capacity of $564,516 as of December 31, 2019, with remaining borrowing capacity of approximately $318,016. The borrowing arrangement with the FHLB is subject to annual renewal. The maximum borrowing capacity is recalculated at least quarterly. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2019 | |
Brokers And Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | NOTE 12 - SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE 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 December 31, 2019 and 2018. All of the repurchase agreements are overnight agreements. December 31, 2019 December 31, 2018 Securities pledged for repurchase agreements: U.S. Treasury securities $ 810 $ 861 Obligations of U.S. government agencies 17,864 21,338 Total securities pledged $ 18,674 $ 22,199 Gross amount of recognized liabilities for repurchase agreements $ 18,674 $ 22,199 Amounts related to agreements not included in offsetting disclosures above $ — $ — Information concerning securities sold under agreements to repurchase was as follows: 2019 2018 2017 Outstanding balance at year end $ 18,674 $ 22,199 $ 21,755 Average balance during the year 18,321 18,456 18,234 Average interest rate during the year 0.10 % 0.10 % 0.10 % Maximum month-end balance during the year $ 21,970 $ 22,199 $ 23,889 Weighted average interest rate at year end 0.10 % 0.10 % 0.10 % |
Subordinated Debentures
Subordinated Debentures | 12 Months Ended |
Dec. 31, 2019 | |
Brokers And Dealers [Abstract] | |
Subordinated Debentures | NOTE 13 - SUBORDINATED DEBENTURES Trusts formed by the Company in March of 2002 and March of 2003 issued floating rate trust preferred securities, in the amounts of $5,000 and $7,500, respectively, through special purpose entities as part of pooled offerings of such securities. The Company issued subordinated debentures to the trusts in exchange for the proceeds of the offerings, which debentures represent the sole assets of the trusts. The Company may redeem the subordinated debentures, in whole but not in part, at face value. In March 2007, the Company elected to redeem and refinance the $5,000 floating rate subordinated debenture. The refinancing was done at face value and resulted in a 2.00% reduction in the floating rate. The new subordinated debenture has a 30-year maturity and is redeemable, in whole or in part, anytime without penalty. The replacement subordinated debenture does not have any deferred issuance cost associated with it. The interest rate at December 31, 2019 on the $7,500 debenture was 5.26% and the $5,000 debenture was 3.72%. Additionally, the Company formed an additional trust in September of 2004 that issued $12,500 of 6.05% fixed rate trust preferred securities for five years, then becoming floating rate trust preferred securities, through a special purpose entity as part of a pooled offering of such securities. The Company issued subordinated debentures to the trusts in exchange for the proceeds of the offerings, which debentures represent the sole assets of the trusts. The Company may redeem the subordinated debentures at face value without penalty. The current rate on the $12,500 subordinated debenture is 4.41%. NOTE 13 - SUBORDINATED DEBENTURES (Continued) Finally, the Company acquired two additional trust preferred securities as part of its acquisition of Futura Banc Corp (Futura) in December 2007. Futura TPF Trust I and Futura TPF Trust II were formed in June of 2005 in the amounts of $2,500 and $1,927, respectively. Futura had issued subordinated debentures to the trusts in exchange for ownership of all of the common security of the trusts and the proceeds of the preferred securities sold by the trusts. The Company may redeem the subordinated debentures, in whole or in part, in a principal amount with integral multiples of $1,000, at 100% of the principal amount, plus accrued and unpaid interest. The subordinated debentures mature on June 15, 2035. The subordinated debentures are also redeemable in whole or in part from time to time, upon the occurrence of specific events defined within the trust indenture. The current rate on the $2,500 subordinated debenture is variable at 3.78%. In June 2010, the rate on the $1,927 subordinated debenture switched from a fixed rate to a floating rate. The current rate on the $1,927 subordinated debenture is 3.78%. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 14 - INCOME TAXES Income taxes were as follows for the years ended December 31: 2019 2018 2017 Current $ 4,713 $ 2,444 $ 5,414 State 307 45 — Deferred 663 151 435 Change in corporate tax rate — — 511 Income taxes $ 5,683 $ 2,640 $ 6,360 Effective tax rates differed from the statutory federal income tax rate of 21% in 2019 and 2018 and 35% in 2017 due to the following: 2019 2018 2017 Income taxes computed at the statutory federal tax rate $ 8,308 $ 3,524 $ 7,781 Add (subtract) tax effect of: Nontaxable interest income, net of nondeductible interest expense (1,194 ) (834 ) (1,107 ) Low income housing tax credit (903 ) (903 ) (686 ) Cash surrender value of BOLI (211 ) (143 ) (201 ) Nondeductible merger costs — 1,034 — Change in corporate tax rate — — 511 Change in tax position BOLI (353 ) — — Other 36 (38 ) 62 Income tax expense $ 5,683 $ 2,640 $ 6,360 The Tax Cut and Jobs Act, enacted on December 22, 2017, lowered the federal corporate income tax rate from 35% to 21% effective January 1, 2018. As a result, the carrying value of net deferred tax assets was reduced, which increased income tax expense by $511 for the year ended December 31, 2017. NOTE 14 - INCOME TAXES (Continued) Year-end deferred tax assets and liabilities were due to the following: 2019 2018 Deferred tax assets Allowance for loan losses $ 3,245 $ 3,056 Deferred compensation 1,191 1,217 Pension costs 81 — Intangible assets 394 475 Purchase accounting adjustments 226 566 Net operating loss carryforward 1,081 1,374 Other 220 364 Deferred tax asset 6,438 7,052 Deferred tax liabilities Tax depreciation in excess of book depreciation (808 ) (556 ) Discount accretion on securities (18 ) (31 ) FHLB stock dividends (969 ) (1,053 ) Unrealized gain on securities available for sale (3,424 ) (624 ) Pension costs — (469 ) Prepaids (326 ) (301 ) BOLI — (337 ) Other (359 ) (271 ) Deferred tax liability (5,904 ) (3,642 ) Net deferred tax asset $ 534 $ 3,410 No valuation allowance was established at December 31, 2019 and 2018, due to the Company’s ability to carryforward net operating losses to taxes paid in future years and certain tax strategies, coupled with the anticipated future income as evidenced by the Company’s earning potential. The Company and its subsidiaries are subject to U.S. federal income tax. The Company is subject to tax in Ohio based upon its net worth and in Indiana based upon its net income. There is currently no liability for uncertain tax positions and no known unrecognized tax benefits. The Company’s federal tax returns for taxable years through 2016 have been closed for purposes of examination by the Internal Revenue Service. |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2019 | |
Compensation And Retirement Disclosure [Abstract] | |
Retirement Plans | NOTE 15 - RETIREMENT PLANS The Company sponsors a savings and retirement 401(k) plan, which covers all employees who meet certain eligibility requirements and who choose to participate in the plan. The matching contribution to the 401(k) plan was $1,074, $892 and $805 in 2019, 2018 and 2017, respectively. The Company’s matching contribution is 100% of an employee’s first three percent contributed and 50% of the next two percent contributed. The Company also sponsors a pension plan which is a noncontributory defined benefit retirement plan for all employees who have attained the age of 20 1 ⁄ 2, completed six months of service and work 1,000 or more hours per year. 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 April 2014, the Company amended the pension plan again to provide that no additional benefits would accrue beyond April 30, 2014. NOTE 15 - RETIREMENT PLANS (Continued) In October 2015, the Company, on behalf of it and its subsidiaries, entered into Pension Shortfall Agreements (the “Shortfall Agreements”) with ten employees of the Bank. When the Company ceased accruals to its defined benefit pension plan on April 30, 2014, the circumstances of some participants with limited periods until their anticipated retirement dates would not permit them to use other available alternatives to make up for the shortfall in their expected pension. The Company calculated the total amount of the shortfall for each of the referenced individuals after considering its contributions to other retirement benefits. Pension shortfall expense was $161 in 2019, $180 in 2018 and $18 in 2017. Included in pension shortfall expense was interest expense, totaling $20, $24 and $18 in 2019, 2018 and 2017, respectively, which was also recorded in and credited to the accounts of the ten individuals covered by this plan. Information about the pension plan is as follows: 2019 2018 Change in benefit obligation: Beginning benefit obligation $ 13,338 $ 17,916 Service cost — — Interest cost 479 627 Curtailment gain — — Settlement loss — 98 Actuarial (gain)/loss 3,546 (1,800 ) Benefits paid (1,793 ) (104 ) Settlement payments — (3,399 ) Ending benefit obligation 15,570 13,338 Change in plan assets, at fair value: Beginning plan assets 15,572 19,306 Actual return 1,404 (207 ) Employer contribution — — Benefits paid (1,793 ) (104 ) Settlement payments — (3,399 ) Administrative expenses — (24 ) Ending plan assets 15,183 15,572 Funded status at end of year $ (387 ) $ 2,234 Amounts recognized in accumulated other comprehensive income (loss) at December 31, consist of unrecognized actuarial loss of $6,009, net of $1,597 tax in 2019 and $3,799, net of $1,010 tax in 2018. The accumulated benefit obligation for the defined benefit pension plan was $15,570 at December 31, 2019 and $13,338 at December 31, 2018. NOTE 15 - RETIREMENT PLANS (Continued) The components of net periodic pension expense were as follows: 2019 2018 2017 Service cost $ — $ — $ — Interest cost 479 627 679 Expected return on plan assets (811 ) (1,355 ) (1,178 ) Net amortization and deferral 156 149 380 Net periodic pension cost (benefit) (176 ) (579 ) (119 ) Additional loss due to settlement — 1,188 237 Total pension cost (benefit) $ (176 ) $ 609 $ 118 Net loss (gain) recognized in other comprehensive income $ 2,798 $ (1,453 ) $ (322 ) Total recognized in net periodic benefit cost and other comprehensive loss (before tax) $ 2,622 $ (2,032 ) $ (441 ) The components of net periodic benefit cost other than the service cost component are included in the line item “other operating expenses” in the Consolidated Statement of Operations. The estimated net loss for the defined benefit pension plan that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year is $156. The Company incurred settlement costs in 2019, 2018 and 2017 of $0, $1,188 and $237, respectively. The weighted average assumptions used to determine benefit obligations at year-end were as follows: 2019 2018 2017 Discount rate on benefit obligation 3.13 % 4.14 % 3.51 % Long-term rate of return on plan assets 4.96 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 0.00 % The weighted average assumptions used to determine net periodic pension cost were as follows: 2019 2018 2017 Discount rate on benefit obligation 4.14 % 3.51 % 4.00 % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 0.00 % The Company uses long-term market rates to determine the discount rate on the benefit obligation. Declines in the discount rate lead to increases in the actuarial loss related to the benefit obligation. The expectation for long-term rate of return on the pension assets and the expected rate of compensation increases are reviewed periodically by management in consultation with outside actuaries and primary investment consultants. Factors considered in setting and adjusting these rates are historic and projected rates of return on the portfolio and historic and estimated rates of increases of compensation. Since the pension plan is frozen, the rate of compensation increase used to determine the benefit obligation for 2019, 2018 and 2017 was zero. NOTE 15 - RETIREMENT PLANS (Continued) The Company’s pension plan asset allocation at year-end 2019 and 2018 and target allocation for 2020 by asset category are as follows: Target Allocation Percentage of Plan Assets at Year-end Asset Category 2020 2019 2018 Equity securities 0-30% 20.0 % 33.1 % Debt securities 70-100 80.0 20.7 Money market funds 0 0.0 46.2 Total 100.0 % 100.0 % The Company developed the pension plan investment policies and strategies for plan assets with its pension management firm. The assets are currently invested in seven diversified investment funds, which include four equity funds and three bond funds. The long-term guidelines from above were created to maximize the return on portfolio assets while reducing the risk of the portfolio. The management firm may allocate assets among the separate accounts within the established long-term guidelines. Transfers among these accounts will be at the management firm’s discretion based on their investment outlook and the investment strategies that are outlined at periodic meetings with the Company. The expected long-term rate of return on the plan assets was 4.96% in 2019 and 7.00% in 2018. This return is based on the expected return for each of the asset categories, weighted based on the target allocation for each class. The Company does not expect to make any contribution to its pension plan in 2020. Employer contributions totaled $0 in 2019. Decreased plan assets and increased benefit obligations and actuarial gains led to a change in funded status from $2,234 at December 31, 2018 to a deficit of $387 at December 31, 2019. The following tables set forth by level, within the fair value hierarchy, the pension plan’s assets at fair value as of December 31, 2019 and 2018: December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Common/collective trust: Bonds $ 12,146 $ — $ — $ 12,146 Equities 3,037 — — 3,037 Total assets at fair value $ 15,183 $ — $ — $ 15,183 NOTE 15 - RETIREMENT PLANS (Continued) December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 2,689 $ — $ — $ 2,689 Common/collective trust: Bonds 3,221 — — 3,221 Equities 5,153 — — 5,153 Money market 4,509 — — 4,509 Total assets at fair value $ 15,572 $ — $ — $ 15,572 Investment in equity securities, debt securities, money market funds and mutual funds are valued at the closing price reported on the active market on which the individual securities are traded. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Pension Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Expected benefit payments, which reflect expected future service, are as follows: 2020 $ 204 2021 246 2022 314 2023 375 2024 416 2025 through 2029 480 Total $ 2,035 Supplemental Retirement Plan Civista established a supplemental retirement plan (“SERP”) in 2013, which covers key members of management. Under the SERP, participants will receive annually, following retirement, a percentage of their base compensations at the time of their retirement for a maximum of ten years. The SERP liability recorded at December 31, 2019, was $2,836, compared to $2,570 at December 31, 2018. The expense related to the SERP was $394, $351 and $365 for 2019, 2018 and 2017, respectively. Distributions to participants made in 2019, 2018 and 2017 totaled $128, $87, and $41, respectively. |
Equity Incentive Plan
Equity Incentive Plan | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Incentive Plan | NOTE 16 - 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 240,001 shares available for grants under this plan at December 31, 2019. No options had been granted under the 2014 Incentive Plan as of December 31, 2019 and 2018. In recent 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. During the twelve months ended December 31, 2019, 2018 and 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 common shares of 8,946, 7,071 and 7,171, respectively were issued to Civista directors as payment of their retainer for their service on the Civista Board of Directors. The issuances were expensed in their entirety when the shares were issued in the amounts of $196, $165 and $152, respectively. The Company includes share-based compensation for employees as “Compensation expense” in the Consolidated Statements of Operations. The following is a summary of the status of the Company’s restricted shares, and changes therein during the twelve months ended December 31, 2019: December 31, 2019 Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 39,970 $ 19.10 Granted 21,106 20.65 Vested (16,557 ) 17.31 Forfeited (492 ) 22.41 Nonvested at end of period 44,027 20.48 NOTE 16 - EQUITY INCENTIVE PLAN (Continued) The following is a summary of the status of the Company’s awarded restricted shares as of December 31, 2019: At December 31, 2019 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) January 15, 2016 4,108 $ 21 1.00 March 20, 2017 3,725 — 0.00 March 20, 2017 3,581 49 2.00 April 10, 2018 5,282 47 1.00 April 10, 2018 6,225 93 3.00 March 14, 2019 10,188 130 2.00 March 14, 2019 10,918 158 4.00 44,027 $ 498 2.25 During the twelve months ended December 31, 2019, 2018 and 2017, the Company recorded share-based compensation expense of $335, $263 and $274, respectively and director retainer fees of $196, $165 and $152, respectively, for shares granted under the 2014 Incentive Plan. At December 31, 2019, the total compensation cost related to unvested awards not yet recognized is $498, which is expected to be recognized over the weighted average remaining life of the grants of 2.25 years. |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 17 - FAIR VALUE MEASUREMENT U.S. generally accepted accounting principles establish a hierarchal disclosure framework associated with the level of observable pricing utilized in measuring assets and liabilities at fair value. The three broad levels defined by the hierarchy are as follows: 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. Securities: Equity securities: Fair value swap asset/liability: NOTE 17 - FAIR VALUE MEASUREMENT (Continued) Impaired loans: Other real estate owned: Assets and liabilities measured at fair value are summarized below. Fair Value Measurements at December 31, 2019 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 19,601 $ — Obligations of states and political subdivisions — 206,034 — Mortgage-backed securities in government sponsored entities — 132,864 — Total securities available for sale — 358,499 — Equity securities — 1,191 — Swap asset — 8,918 — Liabilities measured at fair value on a recurring basis: Swap liability — 8,918 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 1 NOTE 17 - FAIR VALUE MEASUREMENT (Continued) Fair Value Measurements at December 31, 2018 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 30,685 $ — Obligations of states and political subdivisions — 172,071 — Mortgage-backed securities in government sponsored entities — 143,538 — Total securities available for sale — 346,294 — Equity securities — 1,070 — Swap asset — 2,837 — Liabilities measured at fair value on a recurring basis: Swap liability — 2,837 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 1,803 The following tables 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, 2019 and 2018. Quantitative Information about Level 3 Fair Value Measurements December 31, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1 Appraisal of collateral Appraisal adjustments 30% 30% Holding period 22 months 22 months Quantitative Information about Level 3 Fair Value Measurements December 31, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1,803 Appraisal of collateral Appraisal adjustments 0% - 30% 26% Liquidation expense 0% - 10% 8% Holding period 0 - 30 months 21 months NOTE 17 - FAIR VALUE MEASUREMENT (Continued) The carrying amount and fair value of financial instruments carried at amortized cost were as follows: December 31, 2019 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 48,535 $ 48,535 $ 48,535 $ — $ — Other securities 20,280 20,280 20,280 — — Loans, held for sale 2,285 2,331 2,331 — — Loans, net of allowance for loan losses 1,694,203 1,713,863 — — 1,713,863 Bank owned life insurance 44,999 44,999 44,999 — — Accrued interest receivable 7,093 7,093 7,093 — — Financial Liabilities: Nonmaturing deposits 1,402,924 1,402,924 1,402,924 — — Time deposits 275,840 276,616 — — 276,616 Short-term FHLB advances 101,500 101,500 101,500 — — Long-term FHLB advances 125,000 123,893 — — 123,893 Securities sold under agreement to repurchase 18,674 18,674 18,674 — — Subordinated debentures 29,427 34,452 — — 34,452 Accrued interest payable 277 277 277 — — December 31, 2018 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 42,779 $ 42,779 $ 42,779 $ — $ — Other securities 21,021 21,021 21,021 — — Loans, held for sale 1,391 1,391 1,391 — — Loans, net of allowance for loan losses 1,548,262 1,517,278 — — 1,517,278 Bank owned life insurance 43,037 43,037 43,037 — — Accrued interest receivable 6,723 6,723 6,723 — — Financial Liabilities: Nonmaturing deposits 1,312,207 1,312,207 1,312,207 — — Time deposits 267,686 267,943 — — 267,943 Short-term FHLB advances 188,600 188,600 188,600 — — Long-term FHLB advances 5,000 4,983 — — 4,983 Securities sold under agreement to repurchase 22,199 22,199 22,199 — — Subordinated debentures 29,427 34,620 — — 34,620 Accrued interest payable 230 230 230 — — The fair value approximates carrying amount for all items except those described below. Fair value for other securities approximates carrying value. For fixed rate loans or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the cash flow analysis or underlying collateral values. For swaps, fair value of the swap asset and liability is based on an external derivative model using data inputs as of the valuation date. Fair value of debt is based on current rates for similar financing. The fair value of off-balance-sheet items is based on the current fees or cost that would be charged to enter into or terminate such arrangements and are considered nominal. NOTE 17 - FAIR VALUE MEASUREMENT (Continued) For certain homogeneous categories of loans, such as some residential mortgages, credit card receivables, and other consumer loans, fair value is estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair value of other types of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. |
Commitments, Contingencies and
Commitments, Contingencies and Off-Balance-Sheet Risk | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Off-Balance-Sheet Risk | NOTE 18 - 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 customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to 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 the commitment. The contractual amount of financial instruments with off-balance-sheet risk was as follows at year-end. 2019 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to extend credit: Lines of credit and construction loans $ 15,155 $ 396,516 $ 14,984 $ 359,220 Overdraft protection 5 37,286 3 37,201 Letters of credit 624 776 624 850 $ 15,784 $ 434,578 $ 15,611 $ 397,271 Commitments to make loans are generally made for a period of one year or less. Fixed-rate loan commitments included above had interest rates ranging from 4.50% to 8.00% at December 31, 2019 and 2.88% to 8.50% at December 31, 2018. 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 $7,127 on December 31, 2019 and $8,891 on December 31, 2018. |
Capital Requirements and Restri
Capital Requirements and Restriction on Retained Earnings | 12 Months Ended |
Dec. 31, 2019 | |
Capital Requirements And Restriction On Retained Earnings [Abstract] | |
Capital Requirements and Restriction on Retained Earnings | NOTE 19 - CAPITAL REQUIREMENTS AND RESTRICTION ON RETAINED EARNINGS CBI and Civista are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory-and possibly additional discretionary-actions by regulators that, if undertaken, could have a direct material effect on the financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Companies must meet specific capital guidelines that involve quantitative measures of the Companies’ assets, liabilities, and certain off-balance-sheet items as calculated under U.S. GAAP, regulatory reporting requirements, and regulatory capital standards. The Companies’ capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulatory capital standards to ensure capital adequacy require the Companies to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital to risk-weighted assets, common equity Tier 1 capital to total risk-weighted assets, and of Tier 1 capital to average assets. Management believes, as of December 31, 2019, that the Companies met all capital adequacy requirements to which they were subject. NOTE 19 - CAPITAL REQUIREMENTS AND RESTRICTION ON RETAINED EARNINGS (Continued) As of December 31, 2019, and 2018, the most recent notification from the Federal Reserve Bank categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Companies must maintain minimum total risk-based capital, Tier 1 risk-based capital, common equity Tier 1 risk-based capital, and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the institution’s category. The Company’s and Civista’s actual capital levels and minimum required capital levels at December 31, 2019 and 2018 were as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Purposes Amount Ratio Amount Ratio Amount Ratio 2019 Total Risk Based Capital Consolidated $ 285,268 16.1 % $ 141,506 8.0 % n/a n/a Civista 250,920 14.2 141,445 8.0 $ 176,807 10.0 % Tier I Risk Based Capital Consolidated 270,501 15.3 106,129 6.0 n/a n/a Civista 235,094 13.3 106,084 6.0 141,445 8.0 CET1 Risk Based Capital Consolidated 241,074 13.6 79,597 4.5 n/a n/a Civista 224,653 12.7 79,563 4.5 114,924 6.5 Leverage Consolidated 270,501 12.3 87,652 4.0 n/a n/a Civista 235,094 10.8 87,362 4.0 109,203 5.0 2018 Total Risk Based Capital Consolidated $ 260,531 16.1 % $ 129,080 8.0 % n/a n/a Civista 228,620 14.2 128,918 8.0 $ 161,407 10.0 % Tier I Risk Based Capital Consolidated 246,852 15.3 96,810 6.0 n/a n/a Civista 213,922 13.3 96,689 6.0 129,125 8.0 CET1 Risk Based Capital Consolidated 208,061 12.9 72,608 4.5 n/a n/a Civista 203,441 12.6 72,517 4.5 104,914 6.5 Leverage Consolidated 246,852 12.8 80,788 4.0 n/a n/a Civista 213,922 10.6 80,642 4.0 100,802 5.0 CBI’s primary source of funds for paying dividends to its shareholders and for operating expense is the cash accumulated from dividends received from Civista. Payment of dividends by Civista to CBI is subject to restrictions by Civista’s regulatory agencies. These restrictions generally limit dividends to the current and prior two years retained earnings as defined by the regulations. In addition, dividends may not reduce capital levels below minimum regulatory requirements. At December 31, 2019, Civista had $53,609 of net profits available to pay dividends to CBI without requiring regulatory approval. |
Parent Company Only Condensed F
Parent Company Only Condensed Financial Information | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Parent Company Only Condensed Financial Information | NOTE 20 - PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of CBI follows: December 31, Condensed Balance Sheets 2019 2018 Assets: Cash $ 24,089 $ 19,678 Equity securities 1,191 1,070 Investment in bank subsidiary 319,714 288,866 Investment in nonbank subsidiaries 15,181 14,081 Other assets 1,683 7,639 Total assets $ 361,858 $ 331,334 Liabilities: Deferred income taxes and other liabilities $ 2,305 $ 3,009 Subordinated debentures 29,427 29,427 Total liabilities 31,732 32,436 Shareholders’ Equity: Preferred stock — 9,364 Common stock 276,422 266,901 Accumulated earnings 67,974 41,320 Treasury Stock (21,144 ) (17,235 ) Accumulated other comprehensive loss 6,874 (1,452 ) Total shareholders’ equity 330,126 298,898 Total liabilities and shareholders’ equity $ 361,858 $ 331,334 For the years ended December 31, Condensed Statements of Operations 2019 2018 2017 Dividends from bank subsidiaries $ 13,300 $ 10,000 $ — Interest expense (1,423 ) (1,320 ) (1,035 ) Pension expense 176 199 (925 ) Acquisition expense — (10,738 ) — Other expense, net (1,107 ) (1,740 ) (1,071 ) Income (loss) before equity in undistributed net earnings of subsidiaries 10,946 (3,599 ) (3,031 ) Income tax benefit 494 1,751 1,407 Equity in undistributed net earnings of subsidiaries 22,438 15,987 17,496 Net income $ 33,878 $ 14,139 $ 15,872 Comprehensive income $ 42,204 $ 14,089 $ 17,284 NOTE 20 - PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Continued) For the years ended December 31, Condensed Statements of Cash Flows 2019 2018 2017 Operating activities: Net income $ 33,878 $ 14,139 $ 15,872 Adjustment to reconcile net income to net cash from operating activities: Change in other assets and other liabilities 4,437 794 (2,147 ) Gain on sale of fixed assets — (110 ) (66 ) Equity in undistributed net earnings of subsidiaries (22,438 ) (15,987 ) (17,496 ) Net cash from (used for) operating activities 15,877 (1,164 ) (3,837 ) Investing activities: Proceeds from sale of premises and equipment — 899 138 Disposal of investment in subsidiary 41 — — Acquisition and additional capitalization of subsidiary, net of cash acquired — (5,216 ) (275 ) Net cash from (used for) investing activities 41 (4,317 ) (137 ) Financing activities: Cash paid on fractional shares on preferred stock conversion to common stock (2 ) — — Net proceeds from common stock issuance — — 32,821 Purchase of treasury stock (3,909 ) — — Payment to repurchase series B preferred stock (402 ) — — Payment to repurchase common stock — — (4 ) Cash dividends paid (7,194 ) (4,749 ) (3,682 ) Net cash from (used for) financing activities (11,507 ) (4,749 ) 29,135 Net change in cash and cash equivalents 4,411 (10,230 ) 25,161 Cash and cash equivalents at beginning of year 19,678 29,908 4,747 Cash and cash equivalents at end of year $ 24,089 $ 19,678 $ 29,908 |
Preferred Shares
Preferred Shares | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Preferred Shares | NOTE 21 - PREFERRED SHARES On December 19, 2013, the Company completed the sale of 1,000,000 depositary shares, each representing a 1/40th ownership interest in a 6.50% Noncumulative Redeemable Convertible Perpetual Preferred Share, Series B, of the Company, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). The Company sold the maximum of 1,000,000 depositary shares in the offering, resulting in gross proceeds to the Company of $25,000. Using proceeds from the sale of the depositary shares, the Company redeemed all of its outstanding Series A Preferred Shares for an aggregate purchase price of $22,857, which redemption was completed as of February 15, 2014. All outstanding depositary shares were redeemed or converted into common shares by December 20, 2019. |
Earnings per Common Share
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | NOTE 22 - EARNINGS PER COMMON SHARE The factors used in the earnings per share computation follow. 2019 2018 2017 Basic Net income $ 33,878 $ 14,139 $ 15,872 Preferred stock dividends 647 959 1,244 Net income available to common shareholders—basic $ 33,231 $ 13,180 $ 14,628 Weighted average common shares outstanding—basic 15,652,881 11,971,786 9,906,856 Basic earnings per share $ 2.12 $ 1.10 $ 1.48 Diluted Net income available to common shareholders—basic $ 33,231 $ 13,180 $ 14,628 Preferred stock dividends on convertible preferred stock 647 959 1,244 Net income available to common shareholders—diluted $ 33,878 $ 14,139 $ 15,872 Weighted average common shares outstanding for earnings per common share basic 15,652,881 11,971,786 9,906,856 Add: dilutive effects of convertible preferred shares 1,198,859 1,883,921 2,445,760 Average shares and dilutive potential common shares outstanding—diluted 16,851,740 13,855,707 12,352,616 Diluted earnings per share $ 2.01 $ 1.02 $ 1.28 Basic earnings per common share are calculated by dividing net income by the weighted-average number of common shares outstanding for 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 shares using the “if converted” method. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | NOTE 23 - QUARTERLY FINANCIAL DATA (UNAUDITED) Interest Income Net Interest Income Net Income (Loss) Basic Earnings (loss) per Common Share Diluted Earnings (loss) per Common Share 2019 First quarter (1)(2) $ 24,584 $ 21,719 $ 9,669 $ 0.61 $ 0.57 Second quarter (1)(9) 24,926 21,741 8,660 0.55 0.51 Third quarter (3)(9) 24,023 20,418 7,708 0.48 0.46 Fourth quarter (4) 24,521 21,222 7,841 0.48 0.47 2018 First quarter (2)(5) $ 15,924 $ 14,772 $ 6,989 $ 0.65 $ 0.55 Second quarter (6)(7)(8)(9) 16,160 14,766 3,014 0.26 0.24 Third quarter (8)(9)(10) 17,886 15,824 (3,433 ) (0.31 ) (0.31 ) Fourth quarter (10) 23,707 20,745 7,569 0.48 0.45 ( 1 ) Interest income and net interest income increased due to increased volume and rate on loans, non-taxable securities and interest-bearing deposits in other banks. (2) Net income increased due to fees on tax refund processing program. ( 3 ) Interest income and net interest income decreased due to a decrease in rate on interest earning assets and an increase on rate on interest-bearing liabilities. ( 4 ) Interest income and net interest income increased due to an increase in loan volume and a decrease in rate on interest-bearing liabilities. ( 5 ) Interest income and net interest income increased due to volume and rate increases on interest-bearing deposits in other banks. ( 6 ) Interest income increased due to increases in loan volume and rate. ( 7 ) Net interest income decreased due to increased volume and rate on FHLB overnight borrowings. ( 8 ) Net income decreased due to merger related expenses. ( 9 ) Net income decreased due to a decrease in fees on the tax refund program. ( 10 ) Interest income and net interest income increased due to increased volume in earning assets. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives | NOTE 24 - DERIVATIVES 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 interest rate swaps are free-standing derivatives and are recorded at fair value. 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. None of the Company’s derivatives are designated as hedging instruments. NOTE 24 - DERIVATIVE HEDGING INSTRUMENTS (Continued) The following table summarizes the Company’s interest rate swap positions as of December 31, 2019. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Weighted Average Rate Received/ (Paid) Derivative Assets Other Assets $ 151,648 $ 8,918 5.04 % Derivative Liabilities Accrued expenses and other liabilities (151,648 ) (8,918 ) -5.04 % Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions as of December 31, 2018. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Weighted Average Rate Received/ (Paid) Derivative Assets Other Assets $ 120,131 $ 2,837 5.19 % Derivative Liabilities Accrued expenses and other liabilities (120,131 ) (2,837 ) -5.19 % 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. The Company classifies changes in the fair value of derivatives with “Other” in the Consolidated Statements of Operation. |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments | 12 Months Ended |
Dec. 31, 2019 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | NOTE 25 – QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company invests in qualified affordable housing projects. At December 31, 2019 and 2018, the balance of the Company’s investments in qualified affordable housing projects was $5,154 and $4,276, 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 $5,417 and $4,922 at December 31, 2019 and 2018, respectively. During the years ended December 31, 2019, 2018 and 2017, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $570, $473 and $354, respectively, which was included within pre-tax income on the Consolidated Statements of Operations. Additionally, during the years ended December 31, 2019, 2018 and 2017, the Company recognized tax credits and other benefits from its investments in affordable housing tax credits of $995, $903 and $686, respectively. During the years ended December 31, 2019, 2018 and 2017, the Company did not incur impairment losses related to its investment in qualified affordable housing projects. |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Revenue Recognition | NOTE 26 – REVENUE RECOGNITION On January 1, 2018, the Company adopted ASU No. 2014-09 “Revenue from Contracts with Customers” (Topic 606) Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also not in scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope of Topic 606 are discussed below. Service Charges Service charges consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. ATM/Interchange Fees Fees, exchange, and other service charges are primarily comprised of debit and credit card income, ATM fees and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Mastercard. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Wealth Management Fees Wealth management fees are primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received in the following month through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. The Company’s performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered. Tax Refund Processing Fees The Company facilitates the payment of federal and state income tax refunds in partnership with a third-party vendor. Refund Transfers (“RTs”) are fee-based products whereby a tax refund is issued to the taxpayer after the Company has received the refund from the federal or state government. As part of this agreement the Company earns fee income, the majority of which is received in the first quarter of the year. The Company’s fee income revenue is recognized based on the estimated percent of business completed by each date. NOTE 26 – REVENUE RECOGNITION (Continued) Other Other noninterest income consists of other recurring revenue streams such as check order fees, wire transfer fees, safety deposit box rental fees, item processing fees and other miscellaneous revenue streams. Check order income mainly represents fees charged to customers for checks. Wire transfer fees represent revenue from processing wire transfers. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Item processing fee income represents fees charged to other financial institutions for processing their transactions. Payment is typically received in the following month. The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2019, 2018 and 2017. For the years ended December 31, 2019 2018 2017 Noninterest Income In-scope of Topic 606: Service charges $ 6,395 $ 5,208 $ 4,777 ATM/Interchange fees 4,056 2,794 2,304 Wealth management fees 3,670 3,669 3,068 Tax refund processing fees 2,750 2,750 2,750 Other 911 892 738 Noninterest Income (in-scope of Topic 606) 17,782 15,313 13,637 Noninterest Income (out-of-scope of Topic 606) 4,661 2,818 2,697 Total Noninterest Income $ 22,443 $ 18,131 $ 16,334 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of December 31, 2019 and December 31, 2018, the Company did not have any significant contract balances. Contract Acquisition Costs In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | NOTE 27 - LEASES We have operating leases for several branch locations and office space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. We also lease certain office equipment under operating leases. Many of our leases include both lease (e.g., minimum rent payments) and non-lease (e.g., common-area or other maintenance costs) components. The Company accounts for each component separately based on the standalone price of each component. In addition, we have several operating leases with lease terms of less than one year and therefore, we have elected the practical expedient to exclude these short-term leases from our ROU assets and lease liabilities. Most leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion. The majority of renewals to extend the lease terms are included in our ROU assets and lease liabilities as they are reasonably certain of exercise. As most of our leases do not provide an implicit rate, we use the fully collateralized FHLB borrowing rate, commensurate with the lease terms based on the information available at the lease commencement date in determining the present value of the lease payments. The balance sheet information related to our operating leases were as follows as of December 31, 2019: Classification on the Consolidated Balance Sheet December 31, 2019 Assets: Operating lease Other assets $ 3,273 Liabilities: Operating lease Accrued expenses and other liabilities $ 3,273 The cost components of our operating leases were as follows for the period ended December 31, 2019: December 31, 2019 Lease cost Operating lease cost $ 429 Short-term lease cost 262 Sublease income (49 ) Total lease cost $ 642 NOTE 27 – LEASES (Continued) Maturities of our lease liabilities for all operating leases for each of the next five years and thereafter is as follows: 2020 $ 511 2021 497 2022 438 2023 430 2024 422 Thereafter 1,381 Total lease payments $ 3,679 Less: Imputed Interest 406 Present value of lease liabilities $ 3,273 The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of December 31, 2019: Weighted-average remaining lease term - operating leases (years) 6.25 Weighted-average discount rate - operating leases 2.92 % Operating leases 2020 $ 660 2021 367 2022 293 2023 215 2024 206 Thereafter 595 Total $ 2,336 The rent commitments listed above are primarily for the leasing of seven financial services branches. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Nature of Operations and Principles of Consolidation | Nature of Operations and Principles of Consolidation Civista provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Summit, Huron, Ottawa, Madison, Montgomery and Richland, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton. 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. There are no significant concentrations of loans to any one industry or customer. However, our customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions. FCIA was formed to allow the Company to participate in commission revenue generated through its third party insurance agreement. Insurance commission revenue was less than 1.0% of total revenue for each of the years ended December 31, 2019, 2018 and 2017. WSP was formed to hold repossessed assets of CBI’s subsidiaries. WSP revenue was less than 1% of total revenue for each of the years ended December 31, 2019, 2018 and 2017. FCRS was formed in 2012 to facilitate payment of individual state and federal tax refunds. The operations of FCRS were discontinued June 30, 2019. CRMI was formed in 2017 to provide property and casualty insurance coverage to CBI and its’ subsidiaries for which insurance may not be currently available or economically feasible in the insurance marketplace. CRMI revenue was less than 1% of total revenue for each of the years ended December 31, 2019, 2018 and 2017. |
Use of Estimates | Use of Estimates |
Cash Flows | Cash Flows |
Securities | Securities NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold using the specific identification method. Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis, the magnitude and duration of the decline, the reasons underlying the decline and the Company’s intent to sell the security or whether it is more likely than not that the Company would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Company does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between far value and amortized cost is charged to earnings. Other securities which include FHLB stock, Federal Reserve Bank (“FRB”) stock, Federal Agricultural Mortgage Corporation stock, Bankers’ Bancshares Inc. (“BB”) stock, and Norwalk Community Development Corp (“NCDC”) stock are carried at cost. |
Equity Securities | Equity securities |
Loans Held for Sale | Loans Held for Sale: |
Loans | Loans: Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Interest income on consumer loans is discontinued when management determines future collection is unlikely. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not received, for loans placed on nonaccrual, is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Purchased Loans | Purchased Loans: Purchased loans are accounted for individually or aggregated into pools of loans based on common risk characteristics (e.g., credit score, loan type, and date of origination). The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s, or pool’s, contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected future cash flows is greater than the carrying amount, the excess is recognized as part of future interest income. |
Allowance for Loan Losses | Allowance for Loan Losses: All commercial, commercial real estate and farm real estate loans are monitored on a regular basis with a detailed loan review completed for all loan relationships greater than $750. All commercial, commercial real estate and farm real estate loans that are 90 days past due or in nonaccrual status, are analyzed to determine if they are “impaired”, which means that it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. All loans that are delinquent 90 days are classified as substandard and placed on nonaccrual status unless they are well-secured and in the process of collection. The remaining loans are evaluated and segmented with loans with similar risk characteristics. The Company allocates reserves based on risk categories and portfolio segments described below, which conform to the Company’s asset classification policy. In reviewing risk within Civista’s loan portfolio, management has identified specific segments to categorize loan portfolio risk: (i) Commercial & Agriculture loans; (ii) Commercial Real Estate – Owner Occupied loans; (iii) Commercial Real Estate – Non-Owner Occupied loans; (iv) Residential Real Estate loans; (v) Real Estate Construction loans; (vi) Farm Real Estate loans; and (vii) Consumer and Other loans. Additional information related to economic factors can be found in Note 5. |
Loan Charge-off Policies | Loan Charge-off Policies: |
Troubled Debt Restructurings | Troubled Debt Restructurings: |
Other Real Estate | Other Real Estate: |
Premises and Equipment | Premises and Equipment: |
Federal Home Loan Bank (FHLB) Stock | Federal Home Loan Bank (FHLB) Stock a b c d |
Federal Reserve Bank (FRB) Stock | Federal Reserve Bank (FRB) Stock |
Bank Owned Life Insurance (BOLI) | Bank Owned Life Insurance (BOLI) |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Other intangible assets consist of core deposit intangibles arising from whole bank and branch acquisitions. These intangible assets are measured at fair value and then amortized on an accelerated method over their estimated useful lives, which range from five to twelve years. |
Servicing Rights | Servicing Rights |
Long-term Assets | Long-term Assets: |
Repurchase Agreements | Repurchase Agreements |
Loan Commitments and Related Financial Instruments | Loan Commitments and Related Financial Instruments: |
Income Taxes | Income Taxes The Company prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
Stock-Based Compensation | Stock-Based Compensation NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. |
Retirement Plans | Retirement Plans |
Earnings per Common Share | Earnings per Common Share |
Comprehensive Income | Comprehensive Income |
Loss Contingencies | Loss Contingencies |
Restrictions on Cash | Restrictions on Cash |
Dividend Restriction | Dividend Restriction |
Fair Value of Financial Instruments | Fair Value of Financial Instruments |
Operating Segments | Operating Segments |
Business Combinations | Business Combinations: |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Derivatives and Hedging |
Reclassifications | Reclassifications: |
Adoption Of New Accounting Standards | Adoption of New Accounting Standards: In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). Effective January 1, 2019, the Company adopted ASU 2016-02, Leases Targeted Improvements to ASC 842 Leases Additional information and disclosures required by this new standard are contained in Note 27, 'Leases' |
Effect of Newly Issued but Not Yet Effective Accounting Standards | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Effect of Newly Issued but Not Yet Effective Accounting Standards: In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment Intangibles – Goodwill and Other NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes the Disclosure Requirements for Fair Value Measurements In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, and Topic 825, Financial Instruments, Topic 326, Financial Instruments – Credit Losses The Company is currently evaluating the potential impact of the Topic 326 amendments on the Company’s Consolidated Financial Statements. The amendments to Topic 825 are effective for interim and annual reporting periods beginning after December 15, 2019. Financial Instruments – Credit Losses This Update is not expected to have a material impact on the Company’s financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses, Topic 326 Financial Instruments – Credit Losses In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Intangibles ‒ Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (Goodwill) NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses |
Merger (Tables)
Merger (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Estimated Future Amortization Expense | Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit intangibles Total 2020 $ 89 $ 914 $ 1,003 2021 89 891 980 2022 88 868 956 2023 87 840 927 2024 86 804 890 Thereafter 1,123 2,426 3,549 $ 1,562 $ 6,743 $ 8,305 |
Schedule of Financial Information for Former Included in Consolidated Statement of Operations | The following table presents financial information for the former UCB included in the Consolidated Statements of Operations from the date of acquisition through December 31, 2018. Actual From Acquisition Date Through December 31, 2018 (in thousands) Net interest income after provision for loan losses $ 3,227 Noninterest income 373 Net income 1,707 |
Business Acquisition, Unaudited Pro Forma Information | The following table presents unaudited pro forma information for the periods ended December 31, 2019, 2018 and 2017 as if the acquisition of UCB had occurred on January 1, 2017. This table has been prepared for comparative purposes only and is not indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results. Pro Formas (unaudited) Twelve months ended December 31, 2019 2018 2017 Net interest income after provision for loan losses $ 83,825 $ 74,642 $ 70,100 Noninterest income 22,443 18,331 20,782 Net income 33,653 18,984 19,284 Pro forma earnings per share: Basic $ 2.11 $ 1.51 $ 1.82 Diluted $ 2.00 $ 1.37 $ 1.56 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for UCB. Core deposit intangibles will be amortized over a period of ten years using an accelerated method. Goodwill will not be amortized, but instead will be evaluated for impairment. Furthermore, the unaudited pro forma information does not reflect management’s estimate of any revenue-enhancing opportunities nor anticipated cost savings as a result of the integration and consolidation of the acquisition. Consideration paid $ 117,344 Net assets acquired: Cash and due from financial institutions $ 156,472 Securities available for sale 43,214 Equity securities 212 Loans held for sale 492 Loans, net 298,319 Other securities 3,527 Premises and equipment 5,291 Accrued interest receivable 950 Core deposit intangible 7,518 Bank owned life insurance 17,193 Other assets 10,361 Noninterest-bearing deposits (112,787 ) Interest-bearing deposits (363,157 ) Other liabilities (17 ) 67,588 Goodwill resulting from UCB merger $ 49,756 |
UCB [Member] | |
Schedule of Estimated Future Amortization Expense | As of December 31, 2019, the estimated future amortization expense for the core deposit intangible related to UCB is as follows: Core deposit intangibles 2020 $ 842 2021 823 2022 800 2023 773 2024 742 Thereafter 2,427 $ 6,407 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments Debt And Equity Securities [Abstract] | |
Available for Sale Securities | The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2019 U.S. Treasury securities and obligations of U.S. government agencies $ 19,401 $ 204 $ (4 ) $ 19,601 Obligations of states and political subdivisions 193,646 12,409 (21 ) 206,034 Mortgage-back securities in government sponsored entities 129,145 3,863 (144 ) 132,864 Total debt securities $ 342,192 $ 16,476 $ (169 ) $ 358,499 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2018 U.S. Treasury securities and obligations of U.S. government agencies $ 30,623 $ 202 $ (140 ) $ 30,685 Obligations of states and political subdivisions 168,993 3,680 (602 ) 172,071 Mortgage-back securities in government sponsored entities 143,707 1,024 (1,193 ) 143,538 Total debt securities $ 343,323 $ 4,906 $ (1,935 ) $ 346,294 |
Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities at year end 2019 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 11,124 $ 11,166 Due from one to five years 14,756 15,062 Due from five to ten years 26,117 27,173 Due after ten years 161,050 172,234 Mortgage-backed securities in government sponsored entities 129,145 132,864 Total securities available for sale $ 342,192 $ 358,499 |
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: 2019 2018 2017 Sale proceeds $ 17,570 $ 14,667 $ 953 Gross realized gains 47 6 — Gross realized losses 43 393 — Gains (losses) from securities called or settled by the issuer 28 (26 ) 12 |
Securities with Unrealized Losses Not Recognized in Income | Debt securities with unrealized losses at year end 2019 and 2018 not recognized in income were as follows: 2019 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 $ — $ — $ 3,408 $ (4 ) $ 3,408 $ (4 ) Obligations of states and political subdivisions 1,947 (21 ) — — 1,947 (21 ) Mortgage-backed securities in gov’t sponsored entities 10,653 (91 ) 7,732 (53 ) 18,385 (144 ) Total temporarily impaired $ 12,600 $ (112 ) $ 11,140 $ (57 ) $ 23,740 $ (169 ) 2018 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 $ — $ — $ 16,469 $ (140 ) $ 16,469 $ (140 ) Obligations of states and political subdivisions 8,008 (71 ) 25,890 (531 ) 33,898 (602 ) Mortgage-backed securities in gov’t sponsored entities 6,630 (90 ) 40,333 (1,103 ) 46,963 (1,193 ) Total temporarily impaired $ 14,638 $ (161 ) $ 82,692 $ (1,774 ) $ 97,330 $ (1,935 ) |
Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings and Portion of Unrealized Gains and Losses for Period that Relates to Equity Investments | The following table presents the net gains and losses on equity investments recognized in earnings at year-end 2019 and 2018, and the portion of unrealized gains and losses for the period that relates to equity investments held at year-end 2019 and 2018: 2019 2018 Net gains recognized on equity securities during the year $ 121 $ 26 Less: Net gains (losses) realized on the sale of equity securities during the period — — Unrealized gains recognized in equity securities held at December 31 $ 121 $ 26 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Loan Balances | Loans at year-end were as follows: 2019 2018 Commercial and Agriculture $ 203,110 $ 177,101 Commercial Real Estate - owner occupied 245,606 210,121 Commercial Real Estate - non-owner occupied 592,222 523,598 Residential Real Estate 463,032 457,850 Real Estate Construction 155,825 135,195 Farm Real Estate 34,114 38,513 Consumer and Other 15,061 19,563 Total Loans 1,708,970 1,561,941 Allowance for loan losses (14,767 ) (13,679 ) Net loans $ 1,694,203 $ 1,548,262 |
Loans to Directors and Executive Officers Including Immediate Families | Loans to principal officers, directors, and their affiliates at year-end 2019 and 2018 were as follows: 2019 2018 Balance - Beginning of year $ 8,722 $ 14,002 New loans and advances 3,057 3,308 Repayments (2,574 ) (2,324 ) Effect of changes to related parties 704 (6,264 ) Balance - End of year $ 9,909 $ 8,722 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Changes in the Allowance for Loan Losses and Loan Balances Outstanding | The following tables present, by portfolio segment, the changes in the allowance for loan losses, the ending allocation of the allowance for loan losses and the loan balances outstanding for the years ended December 31, 2019, 2018 and 2017. The changes can be impacted by overall loan volume, adversely graded loans, historical charge-offs and economic factors Allowance for loan losses: December 31, 2019 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 1,747 $ (114 ) $ 86 $ 500 $ 2,219 Commercial Real Estate: Owner Occupied 1,962 (161 ) 289 451 2,541 Non-Owner Occupied 5,803 — 102 679 6,584 Residential Real Estate 1,531 (294 ) 259 86 1,582 Real Estate Construction 1,046 (24 ) 3 225 1,250 Farm Real Estate 397 — 5 (58 ) 344 Consumer and Other 284 (183 ) 85 61 247 Unallocated 909 — — (909 ) — Total $ 13,679 $ (776 ) $ 829 $ 1,035 $ 14,767 Allowance for loan losses: December 31, 2018 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 1,562 $ (249 ) $ 169 $ 265 $ 1,747 Commercial Real Estate: Owner Occupied 2,043 (193 ) 158 (46 ) 1,962 Non-Owner Occupied 5,307 (153 ) 28 621 5,803 Residential Real Estate 1,910 (105 ) 208 (482 ) 1,531 Real Estate Construction 834 — — 212 1,046 Farm Real Estate 430 — 5 (38 ) 397 Consumer and Other 290 (203 ) 100 97 284 Unallocated 758 — — 151 909 Total $ 13,134 $ (903 ) $ 668 $ 780 $ 13,679 Allowance for loan losses: December 31, 2017 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 2,018 $ (11 ) $ 372 $ (817 ) $ 1,562 Commercial Real Estate: Owner Occupied 2,171 (328 ) 69 131 2,043 Non-Owner Occupied 4,606 (38 ) 46 693 5,307 Residential Real Estate 3,089 (400 ) 194 (973 ) 1,910 Real Estate Construction 420 — 44 370 834 Farm Real Estate 442 — 3 (15 ) 430 Consumer and Other 314 (165 ) 43 98 290 Unallocated 245 — — 513 758 Total $ 13,305 $ (942 ) $ 771 $ — $ 13,134 The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of December 31, 2019 and December 31, 2018. December 31, 2019 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 2,219 $ 2,219 Commercial Real Estate: Owner Occupied — 9 2,532 2,541 Non-Owner Occupied — — 6,584 6,584 Residential Real Estate — 82 1,500 1,582 Real Estate Construction — — 1,250 1,250 Farm Real Estate — — 344 344 Consumer and Other — — 247 247 Unallocated — — — — Total $ — $ 91 $ 14,676 $ 14,767 Outstanding loan balances: Commercial & Agriculture $ — $ 367 $ 202,743 $ 203,110 Commercial Real Estate: Owner Occupied — 426 245,180 245,606 Non-Owner Occupied — 374 591,848 592,222 Residential Real Estate 467 1,764 460,801 463,032 Real Estate Construction — — 155,825 155,825 Farm Real Estate — 666 33,448 34,114 Consumer and Other — — 15,061 15,061 Total $ 467 $ 3,597 $ 1,704,906 $ 1,708,970 December 31, 2018 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 1,747 $ 1,747 Commercial Real Estate: Owner Occupied — 12 1,950 1,962 Non-Owner Occupied — — 5,803 5,803 Residential Real Estate 8 122 1,401 1,531 Real Estate Construction — — 1,046 1,046 Farm Real Estate — 7 390 397 Consumer and Other — — 284 284 Unallocated — — 909 909 Total $ 8 $ 141 $ 13,530 $ 13,679 Outstanding loan balances: Commercial & Agriculture $ 41 $ 367 $ 176,693 $ 177,101 Commercial Real Estate: Owner Occupied — 484 209,637 210,121 Non-Owner Occupied — 31 523,567 523,598 Residential Real Estate 883 1,279 455,688 457,850 Real Estate Construction — — 135,195 135,195 Farm Real Estate — 696 37,817 38,513 Consumer and Other — — 19,563 19,563 Total $ 924 $ 2,857 $ 1,558,160 $ 1,561,941 |
Credit Exposures by Internally Assigned Grades | December 31, 2019 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 199,649 $ 2,236 $ 1,225 $ — $ 203,110 Commercial Real Estate: Owner Occupied 237,171 5,617 2,818 — 245,606 Non-Owner Occupied 588,633 2,155 1,434 — 592,222 Residential Real Estate 73,289 528 6,495 — 80,312 Real Estate Construction 145,251 — 9 — 145,260 Farm Real Estate 30,808 567 2,739 — 34,114 Consumer and Other 1,289 — 6 — 1,295 Total $ 1,276,090 $ 11,103 $ 14,726 $ — $ 1,301,919 December 31, 2018 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 173,783 $ 1,509 $ 1,809 $ — $ 177,101 Commercial Real Estate: Owner Occupied 201,228 3,512 5,381 — 210,121 Non-Owner Occupied 520,487 2,023 1,088 — 523,598 Residential Real Estate 70,908 580 7,363 — 78,851 Real Estate Construction 124,769 13 41 — 124,823 Farm Real Estate 32,908 3,096 2,509 — 38,513 Consumer and Other 1,713 — 20 — 1,733 Total $ 1,125,796 $ 10,733 $ 18,211 $ — $ 1,154,740 |
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. December 31, 2019 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 382,720 $ 10,565 $ 13,766 $ 407,051 Nonperforming — — — — Total $ 382,720 $ 10,565 $ 13,766 $ 407,051 December 31, 2018 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 378,999 $ 10,372 $ 17,830 $ 407,201 Nonperforming — — — — Total $ 378,999 $ 10,372 $ 17,830 $ 407,201 |
Aging Analysis of Past Due Loans | The following tables include an aging analysis of the recorded investment of past due loans outstanding as of December 31, 2019 and 2018. December 31, 2019 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 $ 27 $ 35 $ 106 $ 168 $ 202,942 $ — $ 203,110 $ — Commercial Real Estate: Owner Occupied 453 63 663 1,179 244,427 — 245,606 — Non-Owner Occupied — — 8 8 592,214 — 592,222 — Residential Real Estate 2,399 198 1,775 4,372 458,193 467 463,032 — Real Estate Construction — — — — 155,825 — 155,825 — Farm Real Estate — — 7 7 34,107 — 34,114 — Consumer and Other 129 46 — 175 14,886 — 15,061 — Total $ 3,008 $ 342 $ 2,559 $ 5,909 $ 1,702,594 $ 467 $ 1,708,970 $ — December 31, 2018 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 $ 225 $ — $ 92 $ 317 $ 176,743 $ 41 $ 177,101 $ — Commercial Real Estate: Owner Occupied 547 413 564 1,524 208,597 — 210,121 — Non-Owner Occupied 288 290 372 950 522,648 — 523,598 — Residential Real Estate 7,118 677 806 8,601 448,366 883 457,850 — Real Estate Construction — 12 27 39 135,156 — 135,195 — Farm Real Estate 33 — 158 191 38,322 — 38,513 — Consumer and Other 117 57 9 183 19,380 — 19,563 — Total $ 8,328 $ 1,449 $ 2,028 $ 11,805 $ 1,549,212 $ 924 $ 1,561,941 $ — |
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 December 31, 2019 and 2018. 2019 2018 Commercial & Agriculture $ 173 $ 270 Commercial Real Estate: Owner Occupied 938 942 Non-Owner Occupied 8 374 Residential Real Estate 4,183 3,886 Real Estate Construction 9 41 Farm Real Estate 284 338 Consumer and Other 4 18 Total $ 5,599 $ 5,869 |
Schedule of TDR | Loan modifications that are considered TDRs completed during the twelve month periods ended December 31, 2019, 2018 and 2017 were as follows: For the Twelve Month Period Ended December 31, 2019 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied 1 382 382 Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 382 $ 382 For the Twelve Month Period Ended December 31, 2018 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate 1 23 23 Real Estate Construction — — — Farm Real Estate 1 110 110 Consumer and Other — — — Total Loan Modifications 2 $ 133 $ 133 For the Twelve Month Period Ended December 31, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate 1 13 13 Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 13 $ 13 |
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 December 31, 2019 and 2018. December 31, 2019 December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial & Agriculture $ 367 $ 367 $ 367 $ 367 Commercial Real Estate: Owner Occupied 168 168 193 193 Non-Owner Occupied 374 374 31 34 Residential Real Estate 1,571 1,643 1,017 1,089 Farm Real Estate 666 666 256 256 Total 3,146 3,218 1,864 1,939 With an allowance recorded: Commercial Real Estate: Owner Occupied 258 258 $ 9 291 291 $ 12 Residential Real Estate 193 197 82 262 265 122 Farm Real Estate — — — 440 440 7 Total 451 455 91 993 996 141 Total: Commercial & Agriculture 367 367 — 367 367 — Commercial Real Estate: Owner Occupied 426 426 9 484 484 12 Non-Owner Occupied 374 374 — 31 34 — Residential Real Estate 1,764 1,840 82 1,279 1,354 122 Farm Real Estate 666 666 — 696 696 7 Total $ 3,597 $ 3,673 $ 91 $ 2,857 $ 2,935 $ 141 The following tables include the average recorded investment and interest income recognized for impaired financing receivables as of, and for the years ended, December 31, 2019, 2018 and 2017. For the year ended: December 31, 2019 December 31, 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 367 $ 33 $ 636 $ 25 Commercial Real Estate: Owner Occupied 456 32 610 33 Non-Owner Occupied 308 20 39 5 Residential Real Estate 1,271 58 1,519 75 Farm Real Estate 683 29 716 29 Total $ 3,085 $ 172 $ 3,520 $ 167 For the year ended: December 31, 2017 Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 1,375 $ 34 Commercial Real Estate: Owner Occupied 1,507 75 Non-Owner Occupied 233 6 Residential Real Estate 1,515 73 Farm Real Estate 613 28 Total $ 5,243 $ 216 |
Schedule of Changes in Amortized Yield for PCI Loans | Changes in the amortizable yield for PCI loans were as follows, since acquisition: At December 31, 2019 At December 31, 2018 (In Thousands) (In Thousands) Balance at beginning of period $ 336 $ 15 Acquisition of PCI loans — 334 Accretion (164 ) (13 ) Transfers from non-accretable to accretable 83 — Balance at end of period $ 255 $ 336 |
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 December 31, 2019 At December 31, 2018 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 $ 1,149 $ 1,805 Carrying amount 467 924 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, as of December 31, 2019, 2018 and 2017. For the Year Ended December 31, 2019 For the Year Ended December 31, 2018 For the Year Ended December 31, 2017 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 Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Beginning balance $ 2,347 $ (3,799 ) $ (1,452 ) $ 3,185 $ (4,309 ) $ (1,124 ) $ 2,008 $ (4,345 ) $ (2,337 ) Other comprehensive income (loss) before reclassifications 10,561 (2,333 ) 8,228 (886 ) 393 (493 ) 620 553 1,173 Amounts reclassified from accumulated other comprehensive income (loss) (25 ) 123 98 326 117 443 (8 ) 247 239 Net current-period other comprehensive income (loss) 10,536 (2,210 ) 8,326 (560 ) 510 (50 ) 612 800 1,412 Reclassification of certain income tax effects from accumulated other comprehensive income (loss) — — — — — — 565 (764 ) (199 ) Reclassification of equity securities from accumulated other comprehensive income (loss) — — — (278 ) — (278 ) — — — Ending balance $ 12,883 $ (6,009 ) $ 6,874 $ 2,347 $ (3,799 ) $ (1,452 ) $ 3,185 $ (4,309 ) $ (1,124 ) |
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss | NOTE 6 - OTHER COMPREHENSIVE INCOME (LOSS ) (Continued) The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss as of December 31, 2019, 2018 and 2017. Amount Reclassified from Accumulated Other Comprehensive Loss (a) For the year ended December 31, Details about Accumulated Other Comprehensive Income (Loss) Components 2019 2018 2017 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains (losses) on available-for-sale securities $ 32 $ (413 ) $ 12 Net gain (loss) on sale of securities Tax effect (7 ) 87 (4 ) Income taxes 25 (326 ) 8 Amortization of defined benefit pension items Actuarial losses (156 ) (b) (149 ) (b) (380 ) (b) Other operating expenses Tax effect 33 32 133 Income taxes (123 ) (117 ) (247 ) Total reclassifications for the period $ (98 ) $ (443 ) $ (239 ) (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property Plant And Equipment [Abstract] | |
Year-End Premises and Equipment | Year-end premises and equipment were as follows: 2019 2018 Land and improvements $ 6,651 $ 6,553 Buildings and improvements 28,047 27,013 Furniture and equipment 21,988 20,831 Total 56,686 54,397 Accumulated depreciation (33,815 ) (32,376 ) Premises and equipment, net $ 22,871 $ 22,021 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Intangible Assets | Acquired intangible assets were as follows as of year end. 2019 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Core deposit intangible assets(1): Core deposit intangibles 14,792 8,049 6,743 14,792 7,104 7,688 Total core deposit intangible assets $ 14,792 $ 8,049 $ 6,743 $ 14,792 $ 7,104 $ 7,688 (1) Excludes fully amortized core deposit intangible assets |
Schedule of Mortgage Servicing Rights (MSRs) and Related Valuation Allowance | Activity for mortgage servicing rights (MSRs) and the related valuation allowance follows: 2019 2018 Loan Servicing Rights: Beginning of year $ 1,664 $ 743 Additions 247 1,047 Disposals — — Amortized to expense 247 126 Other Charges — — Change in valuation allowance 102 — End of year $ 1,562 $ 1,664 Valuation allowance: Beginning of year $ — $ — Additions expensed 102 — Reductions credited to operations — — Direct write-offs — — End of year $ 102 $ — |
Schedule of Estimated Future Amortization Expense | Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit intangibles Total 2020 $ 89 $ 914 $ 1,003 2021 89 891 980 2022 88 868 956 2023 87 840 927 2024 86 804 890 Thereafter 1,123 2,426 3,549 $ 1,562 $ 6,743 $ 8,305 |
Interest-Bearing Deposits (Tabl
Interest-Bearing Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Summary of Interest-Bearing Deposits | Interest-bearing deposits as of December 31, 2019 and 2018 were as follows: 2019 2018 Demand $ 301,674 $ 261,996 Savings and Money markets 588,697 582,128 Certificates of Deposit: $250 and over 58,290 42,815 Other 168,928 173,445 Individual Retirement Accounts 48,622 51,426 Total $ 1,166,211 $ 1,111,810 |
Scheduled Maturities of Certificates of Deposit | Scheduled maturities of certificates of deposit, including IRA’s at December 31, 2019 were as follows: 2020 $ 171,220 2021 73,991 2022 23,344 2023 4,986 2024 1,261 Thereafter 1,038 Total $ 275,840 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Summary of Federal Funds Purchased and Other Short-term Borrowings | Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: At December 31, 2019 At December 31, 2018 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ 101,500 $ — $ 188,600 Maximum indebtedness during the year 20,000 192,700 20,000 225,300 Average balance during the year 137 112,088 116 113,520 Average rate paid during the year 2.19 % 2.32 % 2.58 % 2.07 % Interest rate on year end balance — 1.63 % — 2.45 % At December 31, 2017 Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ 56,900 Maximum indebtedness during the year 20,000 115,050 Average balance during the year 119 38,825 Average rate paid during the year 1.68 % 1.12 % Interest rate on year end balance — 1.42 % |
Federal Home Loan Bank Advanc_2
Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
Scheduled Principal Reductions of Federal Home Loan Bank Advances Outstanding | Scheduled principal reductions of FHLB advances outstanding at December 31, 2019 were as follows: 2029 $ 125,000 Total $ 125,000 |
Securities Sold Under Agreeme_2
Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Brokers And Dealers [Abstract] | |
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 December 31, 2019 and 2018. All of the repurchase agreements are overnight agreements. December 31, 2019 December 31, 2018 Securities pledged for repurchase agreements: U.S. Treasury securities $ 810 $ 861 Obligations of U.S. government agencies 17,864 21,338 Total securities pledged $ 18,674 $ 22,199 Gross amount of recognized liabilities for repurchase agreements $ 18,674 $ 22,199 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Schedule of Securities Sold Under Agreements to Repurchase | Information concerning securities sold under agreements to repurchase was as follows: 2019 2018 2017 Outstanding balance at year end $ 18,674 $ 22,199 $ 21,755 Average balance during the year 18,321 18,456 18,234 Average interest rate during the year 0.10 % 0.10 % 0.10 % Maximum month-end balance during the year $ 21,970 $ 22,199 $ 23,889 Weighted average interest rate at year end 0.10 % 0.10 % 0.10 % |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax | Income taxes were as follows for the years ended December 31: 2019 2018 2017 Current $ 4,713 $ 2,444 $ 5,414 State 307 45 — Deferred 663 151 435 Change in corporate tax rate — — 511 Income taxes $ 5,683 $ 2,640 $ 6,360 |
Effective Tax Rates Differed from Statutory Federal Income Tax Rate | Effective tax rates differed from the statutory federal income tax rate of 21% in 2019 and 2018 and 35% in 2017 due to the following: 2019 2018 2017 Income taxes computed at the statutory federal tax rate $ 8,308 $ 3,524 $ 7,781 Add (subtract) tax effect of: Nontaxable interest income, net of nondeductible interest expense (1,194 ) (834 ) (1,107 ) Low income housing tax credit (903 ) (903 ) (686 ) Cash surrender value of BOLI (211 ) (143 ) (201 ) Nondeductible merger costs — 1,034 — Change in corporate tax rate — — 511 Change in tax position BOLI (353 ) — — Other 36 (38 ) 62 Income tax expense $ 5,683 $ 2,640 $ 6,360 |
Summary of Deferred Tax Assets and Liabilities | Year-end deferred tax assets and liabilities were due to the following: 2019 2018 Deferred tax assets Allowance for loan losses $ 3,245 $ 3,056 Deferred compensation 1,191 1,217 Pension costs 81 — Intangible assets 394 475 Purchase accounting adjustments 226 566 Net operating loss carryforward 1,081 1,374 Other 220 364 Deferred tax asset 6,438 7,052 Deferred tax liabilities Tax depreciation in excess of book depreciation (808 ) (556 ) Discount accretion on securities (18 ) (31 ) FHLB stock dividends (969 ) (1,053 ) Unrealized gain on securities available for sale (3,424 ) (624 ) Pension costs — (469 ) Prepaids (326 ) (301 ) BOLI — (337 ) Other (359 ) (271 ) Deferred tax liability (5,904 ) (3,642 ) Net deferred tax asset $ 534 $ 3,410 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Compensation And Retirement Disclosure [Abstract] | |
Information about Pension Plan | Information about the pension plan is as follows: 2019 2018 Change in benefit obligation: Beginning benefit obligation $ 13,338 $ 17,916 Service cost — — Interest cost 479 627 Curtailment gain — — Settlement loss — 98 Actuarial (gain)/loss 3,546 (1,800 ) Benefits paid (1,793 ) (104 ) Settlement payments — (3,399 ) Ending benefit obligation 15,570 13,338 Change in plan assets, at fair value: Beginning plan assets 15,572 19,306 Actual return 1,404 (207 ) Employer contribution — — Benefits paid (1,793 ) (104 ) Settlement payments — (3,399 ) Administrative expenses — (24 ) Ending plan assets 15,183 15,572 Funded status at end of year $ (387 ) $ 2,234 |
Components of Net Periodic Pension Expense | The components of net periodic pension expense were as follows: 2019 2018 2017 Service cost $ — $ — $ — Interest cost 479 627 679 Expected return on plan assets (811 ) (1,355 ) (1,178 ) Net amortization and deferral 156 149 380 Net periodic pension cost (benefit) (176 ) (579 ) (119 ) Additional loss due to settlement — 1,188 237 Total pension cost (benefit) $ (176 ) $ 609 $ 118 Net loss (gain) recognized in other comprehensive income $ 2,798 $ (1,453 ) $ (322 ) Total recognized in net periodic benefit cost and other comprehensive loss (before tax) $ 2,622 $ (2,032 ) $ (441 ) |
Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost | The weighted average assumptions used to determine benefit obligations at year-end were as follows: 2019 2018 2017 Discount rate on benefit obligation 3.13 % 4.14 % 3.51 % Long-term rate of return on plan assets 4.96 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 0.00 % The weighted average assumptions used to determine net periodic pension cost were as follows: 2019 2018 2017 Discount rate on benefit obligation 4.14 % 3.51 % 4.00 % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 0.00 % |
Schedule of Pension Plan Asset Allocation and Target Allocation by Asset Category | The Company’s pension plan asset allocation at year-end 2019 and 2018 and target allocation for 2020 by asset category are as follows: Target Allocation Percentage of Plan Assets at Year-end Asset Category 2020 2019 2018 Equity securities 0-30% 20.0 % 33.1 % Debt securities 70-100 80.0 20.7 Money market funds 0 0.0 46.2 Total 100.0 % 100.0 % |
Plan's Assets at Fair Value Hierarchy | The following tables set forth by level, within the fair value hierarchy, the pension plan’s assets at fair value as of December 31, 2019 and 2018: December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Common/collective trust: Bonds $ 12,146 $ — $ — $ 12,146 Equities 3,037 — — 3,037 Total assets at fair value $ 15,183 $ — $ — $ 15,183 |
Summary of Expected Benefit Payments | Expected benefit payments, which reflect expected future service, are as follows: 2020 $ 204 2021 246 2022 314 2023 375 2024 416 2025 through 2029 480 Total $ 2,035 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 during the twelve months ended December 31, 2019: December 31, 2019 Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 39,970 $ 19.10 Granted 21,106 20.65 Vested (16,557 ) 17.31 Forfeited (492 ) 22.41 Nonvested at end of period 44,027 20.48 The following is a summary of the status of the Company’s awarded restricted shares as of December 31, 2019: At December 31, 2019 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) January 15, 2016 4,108 $ 21 1.00 March 20, 2017 3,725 — 0.00 March 20, 2017 3,581 49 2.00 April 10, 2018 5,282 47 1.00 April 10, 2018 6,225 93 3.00 March 14, 2019 10,188 130 2.00 March 14, 2019 10,918 158 4.00 44,027 $ 498 2.25 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value | Assets and liabilities measured at fair value are summarized below. Fair Value Measurements at December 31, 2019 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 19,601 $ — Obligations of states and political subdivisions — 206,034 — Mortgage-backed securities in government sponsored entities — 132,864 — Total securities available for sale — 358,499 — Equity securities — 1,191 — Swap asset — 8,918 — Liabilities measured at fair value on a recurring basis: Swap liability — 8,918 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 1 NOTE 17 - FAIR VALUE MEASUREMENT (Continued) Fair Value Measurements at December 31, 2018 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 30,685 $ — Obligations of states and political subdivisions — 172,071 — Mortgage-backed securities in government sponsored entities — 143,538 — Total securities available for sale — 346,294 — Equity securities — 1,070 — Swap asset — 2,837 — Liabilities measured at fair value on a recurring basis: Swap liability — 2,837 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 1,803 |
Quantitative Information about Level 3 Fair Value Measurements | The following tables 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, 2019 and 2018. Quantitative Information about Level 3 Fair Value Measurements December 31, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1 Appraisal of collateral Appraisal adjustments 30% 30% Holding period 22 months 22 months Quantitative Information about Level 3 Fair Value Measurements December 31, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1,803 Appraisal of collateral Appraisal adjustments 0% - 30% 26% Liquidation expense 0% - 10% 8% Holding period 0 - 30 months 21 months |
Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost | NOTE 17 - FAIR VALUE MEASUREMENT (Continued) The carrying amount and fair value of financial instruments carried at amortized cost were as follows: December 31, 2019 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 48,535 $ 48,535 $ 48,535 $ — $ — Other securities 20,280 20,280 20,280 — — Loans, held for sale 2,285 2,331 2,331 — — Loans, net of allowance for loan losses 1,694,203 1,713,863 — — 1,713,863 Bank owned life insurance 44,999 44,999 44,999 — — Accrued interest receivable 7,093 7,093 7,093 — — Financial Liabilities: Nonmaturing deposits 1,402,924 1,402,924 1,402,924 — — Time deposits 275,840 276,616 — — 276,616 Short-term FHLB advances 101,500 101,500 101,500 — — Long-term FHLB advances 125,000 123,893 — — 123,893 Securities sold under agreement to repurchase 18,674 18,674 18,674 — — Subordinated debentures 29,427 34,452 — — 34,452 Accrued interest payable 277 277 277 — — December 31, 2018 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 42,779 $ 42,779 $ 42,779 $ — $ — Other securities 21,021 21,021 21,021 — — Loans, held for sale 1,391 1,391 1,391 — — Loans, net of allowance for loan losses 1,548,262 1,517,278 — — 1,517,278 Bank owned life insurance 43,037 43,037 43,037 — — Accrued interest receivable 6,723 6,723 6,723 — — Financial Liabilities: Nonmaturing deposits 1,312,207 1,312,207 1,312,207 — — Time deposits 267,686 267,943 — — 267,943 Short-term FHLB advances 188,600 188,600 188,600 — — Long-term FHLB advances 5,000 4,983 — — 4,983 Securities sold under agreement to repurchase 22,199 22,199 22,199 — — Subordinated debentures 29,427 34,620 — — 34,620 Accrued interest payable 230 230 230 — — |
Commitments, Contingencies an_2
Commitments, Contingencies and Off-Balance-Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contractual Amounts of Financial Instruments with Off-Balance-Sheet Risk | The contractual amount of financial instruments with off-balance-sheet risk was as follows at year-end. 2019 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to extend credit: Lines of credit and construction loans $ 15,155 $ 396,516 $ 14,984 $ 359,220 Overdraft protection 5 37,286 3 37,201 Letters of credit 624 776 624 850 $ 15,784 $ 434,578 $ 15,611 $ 397,271 |
Capital Requirements and Rest_2
Capital Requirements and Restriction on Retained Earnings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Capital Requirements And Restriction On Retained Earnings [Abstract] | |
Actual Capital Levels and Minimum Required Capital Levels | The Company’s and Civista’s actual capital levels and minimum required capital levels at December 31, 2019 and 2018 were as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Purposes Amount Ratio Amount Ratio Amount Ratio 2019 Total Risk Based Capital Consolidated $ 285,268 16.1 % $ 141,506 8.0 % n/a n/a Civista 250,920 14.2 141,445 8.0 $ 176,807 10.0 % Tier I Risk Based Capital Consolidated 270,501 15.3 106,129 6.0 n/a n/a Civista 235,094 13.3 106,084 6.0 141,445 8.0 CET1 Risk Based Capital Consolidated 241,074 13.6 79,597 4.5 n/a n/a Civista 224,653 12.7 79,563 4.5 114,924 6.5 Leverage Consolidated 270,501 12.3 87,652 4.0 n/a n/a Civista 235,094 10.8 87,362 4.0 109,203 5.0 2018 Total Risk Based Capital Consolidated $ 260,531 16.1 % $ 129,080 8.0 % n/a n/a Civista 228,620 14.2 128,918 8.0 $ 161,407 10.0 % Tier I Risk Based Capital Consolidated 246,852 15.3 96,810 6.0 n/a n/a Civista 213,922 13.3 96,689 6.0 129,125 8.0 CET1 Risk Based Capital Consolidated 208,061 12.9 72,608 4.5 n/a n/a Civista 203,441 12.6 72,517 4.5 104,914 6.5 Leverage Consolidated 246,852 12.8 80,788 4.0 n/a n/a Civista 213,922 10.6 80,642 4.0 100,802 5.0 |
Parent Company Only Condensed_2
Parent Company Only Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Schedule of Condensed Balance Sheets | December 31, Condensed Balance Sheets 2019 2018 Assets: Cash $ 24,089 $ 19,678 Equity securities 1,191 1,070 Investment in bank subsidiary 319,714 288,866 Investment in nonbank subsidiaries 15,181 14,081 Other assets 1,683 7,639 Total assets $ 361,858 $ 331,334 Liabilities: Deferred income taxes and other liabilities $ 2,305 $ 3,009 Subordinated debentures 29,427 29,427 Total liabilities 31,732 32,436 Shareholders’ Equity: Preferred stock — 9,364 Common stock 276,422 266,901 Accumulated earnings 67,974 41,320 Treasury Stock (21,144 ) (17,235 ) Accumulated other comprehensive loss 6,874 (1,452 ) Total shareholders’ equity 330,126 298,898 Total liabilities and shareholders’ equity $ 361,858 $ 331,334 |
Schedule of Condensed Statements of Operations | For the years ended December 31, Condensed Statements of Operations 2019 2018 2017 Dividends from bank subsidiaries $ 13,300 $ 10,000 $ — Interest expense (1,423 ) (1,320 ) (1,035 ) Pension expense 176 199 (925 ) Acquisition expense — (10,738 ) — Other expense, net (1,107 ) (1,740 ) (1,071 ) Income (loss) before equity in undistributed net earnings of subsidiaries 10,946 (3,599 ) (3,031 ) Income tax benefit 494 1,751 1,407 Equity in undistributed net earnings of subsidiaries 22,438 15,987 17,496 Net income $ 33,878 $ 14,139 $ 15,872 Comprehensive income $ 42,204 $ 14,089 $ 17,284 |
Schedule of Condensed Statements of Cash Flows | For the years ended December 31, Condensed Statements of Cash Flows 2019 2018 2017 Operating activities: Net income $ 33,878 $ 14,139 $ 15,872 Adjustment to reconcile net income to net cash from operating activities: Change in other assets and other liabilities 4,437 794 (2,147 ) Gain on sale of fixed assets — (110 ) (66 ) Equity in undistributed net earnings of subsidiaries (22,438 ) (15,987 ) (17,496 ) Net cash from (used for) operating activities 15,877 (1,164 ) (3,837 ) Investing activities: Proceeds from sale of premises and equipment — 899 138 Disposal of investment in subsidiary 41 — — Acquisition and additional capitalization of subsidiary, net of cash acquired — (5,216 ) (275 ) Net cash from (used for) investing activities 41 (4,317 ) (137 ) Financing activities: Cash paid on fractional shares on preferred stock conversion to common stock (2 ) — — Net proceeds from common stock issuance — — 32,821 Purchase of treasury stock (3,909 ) — — Payment to repurchase series B preferred stock (402 ) — — Payment to repurchase common stock — — (4 ) Cash dividends paid (7,194 ) (4,749 ) (3,682 ) Net cash from (used for) financing activities (11,507 ) (4,749 ) 29,135 Net change in cash and cash equivalents 4,411 (10,230 ) 25,161 Cash and cash equivalents at beginning of year 19,678 29,908 4,747 Cash and cash equivalents at end of year $ 24,089 $ 19,678 $ 29,908 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share | The factors used in the earnings per share computation follow. 2019 2018 2017 Basic Net income $ 33,878 $ 14,139 $ 15,872 Preferred stock dividends 647 959 1,244 Net income available to common shareholders—basic $ 33,231 $ 13,180 $ 14,628 Weighted average common shares outstanding—basic 15,652,881 11,971,786 9,906,856 Basic earnings per share $ 2.12 $ 1.10 $ 1.48 Diluted Net income available to common shareholders—basic $ 33,231 $ 13,180 $ 14,628 Preferred stock dividends on convertible preferred stock 647 959 1,244 Net income available to common shareholders—diluted $ 33,878 $ 14,139 $ 15,872 Weighted average common shares outstanding for earnings per common share basic 15,652,881 11,971,786 9,906,856 Add: dilutive effects of convertible preferred shares 1,198,859 1,883,921 2,445,760 Average shares and dilutive potential common shares outstanding—diluted 16,851,740 13,855,707 12,352,616 Diluted earnings per share $ 2.01 $ 1.02 $ 1.28 |
Quarterly Financial Data (Una_2
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Data | Interest Income Net Interest Income Net Income (Loss) Basic Earnings (loss) per Common Share Diluted Earnings (loss) per Common Share 2019 First quarter (1)(2) $ 24,584 $ 21,719 $ 9,669 $ 0.61 $ 0.57 Second quarter (1)(9) 24,926 21,741 8,660 0.55 0.51 Third quarter (3)(9) 24,023 20,418 7,708 0.48 0.46 Fourth quarter (4) 24,521 21,222 7,841 0.48 0.47 2018 First quarter (2)(5) $ 15,924 $ 14,772 $ 6,989 $ 0.65 $ 0.55 Second quarter (6)(7)(8)(9) 16,160 14,766 3,014 0.26 0.24 Third quarter (8)(9)(10) 17,886 15,824 (3,433 ) (0.31 ) (0.31 ) Fourth quarter (10) 23,707 20,745 7,569 0.48 0.45 ( 1 ) Interest income and net interest income increased due to increased volume and rate on loans, non-taxable securities and interest-bearing deposits in other banks. (2) Net income increased due to fees on tax refund processing program. ( 3 ) Interest income and net interest income decreased due to a decrease in rate on interest earning assets and an increase on rate on interest-bearing liabilities. ( 4 ) Interest income and net interest income increased due to an increase in loan volume and a decrease in rate on interest-bearing liabilities. ( 5 ) Interest income and net interest income increased due to volume and rate increases on interest-bearing deposits in other banks. ( 6 ) Interest income increased due to increases in loan volume and rate. ( 7 ) Net interest income decreased due to increased volume and rate on FHLB overnight borrowings. ( 8 ) Net income decreased due to merger related expenses. ( 9 ) Net income decreased due to a decrease in fees on the tax refund program. ( 10 ) Interest income and net interest income increased due to increased volume in earning assets. |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Interest Rate Swap Transactions | The following table summarizes the Company’s interest rate swap positions as of December 31, 2019. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Weighted Average Rate Received/ (Paid) Derivative Assets Other Assets $ 151,648 $ 8,918 5.04 % Derivative Liabilities Accrued expenses and other liabilities (151,648 ) (8,918 ) -5.04 % Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions as of December 31, 2018. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Weighted Average Rate Received/ (Paid) Derivative Assets Other Assets $ 120,131 $ 2,837 5.19 % Derivative Liabilities Accrued expenses and other liabilities (120,131 ) (2,837 ) -5.19 % Net Exposure $ — $ — |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Noninterest Income Segregated By Revenue Streams In-scope and Out-of-scope of Topic 606 | The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2019, 2018 and 2017. For the years ended December 31, 2019 2018 2017 Noninterest Income In-scope of Topic 606: Service charges $ 6,395 $ 5,208 $ 4,777 ATM/Interchange fees 4,056 2,794 2,304 Wealth management fees 3,670 3,669 3,068 Tax refund processing fees 2,750 2,750 2,750 Other 911 892 738 Noninterest Income (in-scope of Topic 606) 17,782 15,313 13,637 Noninterest Income (out-of-scope of Topic 606) 4,661 2,818 2,697 Total Noninterest Income $ 22,443 $ 18,131 $ 16,334 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Summary of Balance Sheet Information Related To Operating Leases | The balance sheet information related to our operating leases were as follows as of December 31, 2019: Classification on the Consolidated Balance Sheet December 31, 2019 Assets: Operating lease Other assets $ 3,273 Liabilities: Operating lease Accrued expenses and other liabilities $ 3,273 |
Summary of Cost Components of Operating Leases | The cost components of our operating leases were as follows for the period ended December 31, 2019: December 31, 2019 Lease cost Operating lease cost $ 429 Short-term lease cost 262 Sublease income (49 ) Total lease cost $ 642 |
Summary of Maturity of Operating Lease Liabilities | Maturities of our lease liabilities for all operating leases for each of the next five years and thereafter is as follows: 2020 $ 511 2021 497 2022 438 2023 430 2024 422 Thereafter 1,381 Total lease payments $ 3,679 Less: Imputed Interest 406 Present value of lease liabilities $ 3,273 2020 $ 660 2021 367 2022 293 2023 215 2024 206 Thereafter 595 Total $ 2,336 |
Summary of Weighted Average Remaining Lease Terms And Discount Rates For Operating Leases | The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of December 31, 2019: Weighted-average remaining lease term - operating leases (years) 6.25 Weighted-average discount rate - operating leases 2.92 % |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2019USD ($)Segment$ / shares | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019USD ($) | |
Significant Accounting Policies [Line Items] | ||||
Allowance for loan losses related to commercial, commercial real estate and farm real estate loans | $ 750,000 | |||
Number of days reaching which loans are considered for nonaccrual status | 90 days | |||
Federal Home Loan Bank par value | $ / shares | $ 100 | |||
Reserve amount | $ 7,127,000 | |||
Number of operating segments | Segment | 1 | |||
Right-of-use asset | $ 3,273,000 | $ 2,210,000 | ||
Lease liability | 3,273,000 | $ 2,210,000 | ||
Change in accounting principle for adoption of ASU 2016-02 | $ 0 | |||
Unsecured Debt [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Retail loans past due charge off period | 90 days | |||
Secured Debt [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Residential real estate loans past due assessment of value period | 180 days | |||
Other Debt [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Loans past due charged down to the net realizable value period | 90 days | |||
Maximum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% | 1.00% | |
Original maturities for cash and cash equivalents | 90 days | |||
Estimated useful life of intangible assets | 12 years | |||
Maximum [Member] | Furniture and Equipment [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Estimated useful life of asset | 7 years | |||
Maximum [Member] | Buildings and Improvements [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Estimated useful life of asset | 50 years | |||
Maximum [Member] | WSP [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% | 1.00% | |
Maximum [Member] | CIVB Risk Management, Inc. [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% | 1.00% | |
Minimum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Estimated useful life of intangible assets | 5 years | |||
Minimum [Member] | Furniture and Equipment [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Estimated useful life of asset | 3 years | |||
Minimum [Member] | Buildings and Improvements [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Estimated useful life of asset | 7 years |
Merger - Additional Information
Merger - Additional Information (Detail) - UCB [Member] - USD ($) $ in Thousands | Sep. 14, 2018 | Dec. 31, 2018 |
Business Combinations [Line Items] | ||
Date of acquisition completion | Sep. 14, 2018 | |
Acquisition cash paid | $ 12,675 | |
Common shares issued to shareholders | 4,277,430 | |
Stock and cash transaction aggregate consideration | $ 117,344 | |
Total assets of UCB prior to the merger | 537,875 | |
Assets, loan | 298,319 | |
Assets, Deposit | $ 475,944 | |
Core deposit intangibles and other intangibles, amortization period | 10 years | |
Cash acquired | $ 156,472 | |
Loans acquired | 298,319 | |
Loans acquired with credit deterioration | 1,210 | |
Deposits acquired | $ 475,900 | |
Compensation Expense [Member] | ||
Business Combinations [Line Items] | ||
Acquisition-related costs | $ 5,231 | |
Contracted Data Processing [Member] | ||
Business Combinations [Line Items] | ||
Acquisition-related costs | 5,515 | |
Professional Services [Member] | ||
Business Combinations [Line Items] | ||
Acquisition-related costs | 1,638 | |
Marketing Expense [Member] | ||
Business Combinations [Line Items] | ||
Acquisition-related costs | 131 | |
Other Operating Expense [Member] | ||
Business Combinations [Line Items] | ||
Acquisition-related costs | $ 220 |
Merger - Schedule of Estimated
Merger - Schedule of Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Acquired Finite Lived Intangible Assets [Line Items] | ||
2020 | $ 1,003 | |
2021 | 980 | |
2022 | 956 | |
2023 | 927 | |
2024 | 890 | |
Thereafter | 3,549 | |
Net Carrying Amount | 8,305 | |
Core deposit intangibles [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
2020 | 914 | |
2021 | 891 | |
2022 | 868 | |
2023 | 840 | |
2024 | 804 | |
Thereafter | 2,426 | |
Net Carrying Amount | 6,743 | $ 7,688 |
UCB [Member] | Core deposit intangibles [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
2020 | 842 | |
2021 | 823 | |
2022 | 800 | |
2023 | 773 | |
2024 | 742 | |
Thereafter | 2,427 | |
Net Carrying Amount | $ 6,407 |
Merger - Schedule of Financial
Merger - Schedule of Financial Information for Former Included in Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 4 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | ||||||||||||
Net interest income after provision for loan losses | $ 84,065 | $ 65,327 | $ 54,502 | |||||||||
Noninterest income | 22,443 | 18,131 | 16,334 | |||||||||
Net income | $ 7,841 | $ 7,708 | $ 8,660 | $ 9,669 | $ 7,569 | $ (3,433) | $ 3,014 | $ 6,989 | $ 33,878 | $ 14,139 | $ 15,872 | |
Former UCB [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Net interest income after provision for loan losses | $ 3,227 | |||||||||||
Noninterest income | 373 | |||||||||||
Net income | $ 1,707 |
Merger - Business Acquisition,
Merger - Business Acquisition, Unaudited Pro Forma Information (Detail) - UCB [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business Combination, Separately Recognized Transactions [Line Items] | |||
Net interest income after provision for loan losses | $ 83,825 | $ 74,642 | $ 70,100 |
Noninterest income | 22,443 | 18,331 | 20,782 |
Net income | $ 33,653 | $ 18,984 | $ 19,284 |
Basic | $ 2.11 | $ 1.51 | $ 1.82 |
Diluted | $ 2 | $ 1.37 | $ 1.56 |
Merger - Schedule of Recognized
Merger - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Sep. 14, 2018 | Dec. 31, 2019 | Dec. 31, 2018 |
Net assets acquired: | |||
Goodwill | $ 76,851 | $ 76,851 | |
UCB [Member] | |||
Business Acquisition [Line Items] | |||
Consideration paid | $ 117,344 | ||
Net assets acquired: | |||
Cash and due from financial institutions | 156,472 | ||
Securities available for sale | 43,214 | ||
Equity securities | 212 | ||
Loans held for sale | 492 | ||
Loans, net | 298,319 | ||
Other securities | 3,527 | ||
Premises and equipment | 5,291 | ||
Accrued interest receivable | 950 | ||
Core deposit intangible | 7,518 | ||
Bank owned life insurance | 17,193 | ||
Other assets | 10,361 | ||
Noninterest-bearing deposits | (112,787) | ||
Interest-bearing deposits | (363,157) | ||
Other liabilities | (17) | ||
Net assets acquired excluding goodwill | 67,588 | ||
Goodwill | $ 49,756 |
Securities - Available for Sale
Securities - Available for Sale Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | $ 342,192 | $ 343,323 |
Gross Unrealized Gains | 16,476 | 4,906 |
Gross Unrealized Losses | (169) | (1,935) |
Fair Value | 358,499 | 346,294 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 19,401 | 30,623 |
Gross Unrealized Gains | 204 | 202 |
Gross Unrealized Losses | (4) | (140) |
Fair Value | 19,601 | 30,685 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 193,646 | 168,993 |
Gross Unrealized Gains | 12,409 | 3,680 |
Gross Unrealized Losses | (21) | (602) |
Fair Value | 206,034 | 172,071 |
Mortgage-back Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 129,145 | 143,707 |
Gross Unrealized Gains | 3,863 | 1,024 |
Gross Unrealized Losses | (144) | (1,193) |
Fair Value | $ 132,864 | $ 143,538 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investments Debt And Equity Securities [Abstract] | ||
Amortized Cost, Due in one year or less | $ 11,124 | |
Amortized Cost, Due from one to five years | 14,756 | |
Amortized Cost, Due from five to ten years | 26,117 | |
Amortized Cost, Due after ten years | 161,050 | |
Amortized Cost, Mortgage-backed securities in government sponsored entities | 129,145 | |
Amortized Cost, Total securities available for sale | 342,192 | $ 343,323 |
Fair Value, Due in one year or less | 11,166 | |
Fair Value, Due from one to five years | 15,062 | |
Fair Value, Due from five to ten years | 27,173 | |
Fair Value, Due after ten years | 172,234 | |
Fair Value, Mortgage-backed securities in government sponsored entities | 132,864 | |
Fair Value, Total securities available for sale | $ 358,499 | $ 346,294 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Dec. 31, 2019USD ($)Security | Dec. 31, 2018USD ($) |
Investments Debt And Equity Securities [Abstract] | ||
Carrying value of pledged securities | $ | $ 139,004 | $ 114,145 |
Number of securities in portfolio with unrealized losses | Security | 35 |
Securities - Proceeds from Sale
Securities - Proceeds from Sales of Securities, Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments Debt And Equity Securities [Abstract] | |||
Sale proceeds | $ 17,570 | $ 14,667 | $ 953 |
Gross realized gains | 47 | 6 | 0 |
Gross realized losses | 43 | 393 | 0 |
Gains (losses) from securities called or settled by the issuer | $ 28 | $ (26) | $ 12 |
Securities - Securities with Un
Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | $ 12,600 | $ 14,638 |
12 Months or less, Unrealized Loss | (112) | (161) |
More than 12 months, Fair Value | 11,140 | 82,692 |
More than 12 months, Unrealized Loss | (57) | (1,774) |
Total Fair Value | 23,740 | 97,330 |
Total Unrealized Loss | (169) | (1,935) |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
More than 12 months, Fair Value | 3,408 | 16,469 |
More than 12 months, Unrealized Loss | (4) | (140) |
Total Fair Value | 3,408 | 16,469 |
Total Unrealized Loss | (4) | (140) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 1,947 | 8,008 |
12 Months or less, Unrealized Loss | (21) | (71) |
More than 12 months, Fair Value | 25,890 | |
More than 12 months, Unrealized Loss | (531) | |
Total Fair Value | 1,947 | 33,898 |
Total Unrealized Loss | (21) | (602) |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 10,653 | 6,630 |
12 Months or less, Unrealized Loss | (91) | (90) |
More than 12 months, Fair Value | 7,732 | 40,333 |
More than 12 months, Unrealized Loss | (53) | (1,103) |
Total Fair Value | 18,385 | 46,963 |
Total Unrealized Loss | $ (144) | $ (1,193) |
Securities - Schedule of Net Ga
Securities - Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings and Portion of Unrealized Gains and Losses for Period that Relates to Equity Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | ||
Net gains recognized on equity securities during the year | $ 121 | $ 26 |
Unrealized gains recognized in equity securities held at December 31 | $ 121 | $ 26 |
Loans - Loan Balances (Detail)
Loans - Loan Balances (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 1,708,970 | $ 1,561,941 |
Allowance for loan losses | (14,767) | (13,679) |
Net loans | 1,694,203 | 1,548,262 |
Commercial and Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 203,110 | 177,101 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 245,606 | 210,121 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 592,222 | 523,598 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 463,032 | 457,850 |
Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 155,825 | 135,195 |
Farm Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 34,114 | 38,513 |
Consumer and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 15,061 | $ 19,563 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Receivables [Abstract] | ||
Net deferred loan fees | $ 488 | $ 389 |
Loans - Loans to Directors and
Loans - Loans to Directors and Executive Officers Including Immediate Families (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Receivables Other Related Parties And Retainage [Abstract] | ||
Balance - Beginning of year | $ 8,722 | $ 14,002 |
New loans and advances | 3,057 | 3,308 |
Repayments | (2,574) | (2,324) |
Effect of changes to related parties | 704 | (6,264) |
Balance - End of year | $ 9,909 | $ 8,722 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2019USD ($)SecurityLoan | Dec. 31, 2018USD ($)SecurityLoan | Dec. 31, 2017USD ($)SecurityLoan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Period for calculating Loss migration rates of portfolio segments | 3 years | ||
Allowance for loan losses | $ 14,767,000 | $ 13,679,000 | |
Number of days past due for loans to be considered as nonperforming | 90 days | ||
Reasonable period for nonperforming TDRs to be returned to performing status | 6 months | ||
Number of days reaching where loans are considered for nonaccrual status | 90 days | ||
Conditions where loans are considered for nonaccrual status | A loan may be returned to accruing status only if one of three conditions are met: the loan is well-secured and none of the principal and interest has been past due for a minimum of 90 days; the loan is a TDR and the borrower has made a minimum of six months payments; or the principal and interest payments are reasonably assured and a sustained period of performance has occurred, generally six months. | ||
Gross interest income recorded on nonaccrual loans | $ 571,000 | 587,000 | $ 712,000 |
Interest income on nonaccrual loans recognized on cash basis | $ 379,000 | $ 360,000 | $ 139,000 |
Defaulted loans | SecurityLoan | 0 | 0 | 0 |
Impaired loans | greater than $350 | ||
Foreclosed assets | $ 0 | $ 0 | |
Allowance for loan losses recorded for acquired loans | 0 | 8,000 | |
Residential Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Residential mortgages in process of foreclosure | 1,022,000 | 311,000 | |
TDRs [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | $ 91,000 | $ 141,000 | $ 169,000 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 13,679 | $ 13,134 | $ 13,305 |
Charge-offs | (776) | (903) | (942) |
Recoveries | 829 | 668 | 771 |
Provision (Credit) | 1,035 | 780 | |
Ending Balance | 14,767 | 13,679 | 13,134 |
Commercial and Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,747 | 1,562 | 2,018 |
Charge-offs | (114) | (249) | (11) |
Recoveries | 86 | 169 | 372 |
Provision (Credit) | 500 | 265 | (817) |
Ending Balance | 2,219 | 1,747 | 1,562 |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,962 | 2,043 | 2,171 |
Charge-offs | (161) | (193) | (328) |
Recoveries | 289 | 158 | 69 |
Provision (Credit) | 451 | (46) | 131 |
Ending Balance | 2,541 | 1,962 | 2,043 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 5,803 | 5,307 | 4,606 |
Charge-offs | (153) | (38) | |
Recoveries | 102 | 28 | 46 |
Provision (Credit) | 679 | 621 | 693 |
Ending Balance | 6,584 | 5,803 | 5,307 |
Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,531 | 1,910 | 3,089 |
Charge-offs | (294) | (105) | (400) |
Recoveries | 259 | 208 | 194 |
Provision (Credit) | 86 | (482) | (973) |
Ending Balance | 1,582 | 1,531 | 1,910 |
Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,046 | 834 | 420 |
Charge-offs | (24) | ||
Recoveries | 3 | 44 | |
Provision (Credit) | 225 | 212 | 370 |
Ending Balance | 1,250 | 1,046 | 834 |
Farm Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 397 | 430 | 442 |
Recoveries | 5 | 5 | 3 |
Provision (Credit) | (58) | (38) | (15) |
Ending Balance | 344 | 397 | 430 |
Consumer and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 284 | 290 | 314 |
Charge-offs | (183) | (203) | (165) |
Recoveries | 85 | 100 | 43 |
Provision (Credit) | 61 | 97 | 98 |
Ending Balance | 247 | 284 | 290 |
Unallocated [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 909 | 758 | 245 |
Provision (Credit) | $ (909) | 151 | 513 |
Ending Balance | $ 909 | $ 758 |
Allowance for Loan Losses - End
Allowance for Loan Losses - Ending Allocation of Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | $ 91 | $ 141 | ||
Allowance for loan losses, Collectively evaluated for impairment | 14,676 | 13,530 | ||
Allowance for loan losses, Total | 14,767 | 13,679 | $ 13,134 | $ 13,305 |
Outstanding loan balances, Individually evaluated for impairment | 3,597 | 2,857 | ||
Outstanding loan balances, Collectively evaluated for impairment | 1,704,906 | 1,558,160 | ||
Outstanding loan balances, Total | 1,708,970 | 1,561,941 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans acquired with credit deterioration | 8 | |||
Loan balance of loans acquired with credit deterioration | 467 | 924 | ||
Commercial and Agriculture [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 2,219 | 1,747 | ||
Allowance for loan losses, Total | 2,219 | 1,747 | 1,562 | 2,018 |
Outstanding loan balances, Individually evaluated for impairment | 367 | 367 | ||
Outstanding loan balances, Collectively evaluated for impairment | 202,743 | 176,693 | ||
Outstanding loan balances, Total | 203,110 | 177,101 | ||
Commercial and Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loan balance of loans acquired with credit deterioration | 41 | |||
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | 9 | 12 | ||
Allowance for loan losses, Collectively evaluated for impairment | 2,532 | 1,950 | ||
Allowance for loan losses, Total | 2,541 | 1,962 | 2,043 | 2,171 |
Outstanding loan balances, Individually evaluated for impairment | 426 | 484 | ||
Outstanding loan balances, Collectively evaluated for impairment | 245,180 | 209,637 | ||
Outstanding loan balances, Total | 245,606 | 210,121 | ||
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 6,584 | 5,803 | ||
Allowance for loan losses, Total | 6,584 | 5,803 | 5,307 | 4,606 |
Outstanding loan balances, Individually evaluated for impairment | 374 | 31 | ||
Outstanding loan balances, Collectively evaluated for impairment | 591,848 | 523,567 | ||
Outstanding loan balances, Total | 592,222 | 523,598 | ||
Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | 82 | 122 | ||
Allowance for loan losses, Collectively evaluated for impairment | 1,500 | 1,401 | ||
Allowance for loan losses, Total | 1,582 | 1,531 | 1,910 | 3,089 |
Outstanding loan balances, Individually evaluated for impairment | 1,764 | 1,279 | ||
Outstanding loan balances, Collectively evaluated for impairment | 460,801 | 455,688 | ||
Outstanding loan balances, Total | 463,032 | 457,850 | ||
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans acquired with credit deterioration | 8 | |||
Loan balance of loans acquired with credit deterioration | 467 | 883 | ||
Real Estate Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 1,250 | 1,046 | ||
Allowance for loan losses, Total | 1,250 | 1,046 | 834 | 420 |
Outstanding loan balances, Collectively evaluated for impairment | 155,825 | 135,195 | ||
Outstanding loan balances, Total | 155,825 | 135,195 | ||
Farm Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | 7 | |||
Allowance for loan losses, Collectively evaluated for impairment | 344 | 390 | ||
Allowance for loan losses, Total | 344 | 397 | 430 | 442 |
Outstanding loan balances, Individually evaluated for impairment | 666 | 696 | ||
Outstanding loan balances, Collectively evaluated for impairment | 33,448 | 37,817 | ||
Outstanding loan balances, Total | 34,114 | 38,513 | ||
Consumer and Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 247 | 284 | ||
Allowance for loan losses, Total | 247 | 284 | 290 | 314 |
Outstanding loan balances, Collectively evaluated for impairment | 15,061 | 19,563 | ||
Outstanding loan balances, Total | $ 15,061 | 19,563 | ||
Unallocated [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 909 | |||
Allowance for loan losses, Total | $ 909 | $ 758 | $ 245 |
Allowance for Loan Losses - Cre
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 1,301,919 | $ 1,154,740 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 203,110 | 177,101 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 245,606 | 210,121 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 592,222 | 523,598 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 80,312 | 78,851 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 145,260 | 124,823 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 34,114 | 38,513 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,295 | 1,733 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,276,090 | 1,125,796 |
Pass [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 199,649 | 173,783 |
Pass [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 237,171 | 201,228 |
Pass [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 588,633 | 520,487 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 73,289 | 70,908 |
Pass [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 145,251 | 124,769 |
Pass [Member] | Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 30,808 | 32,908 |
Pass [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,289 | 1,713 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 11,103 | 10,733 |
Special Mention [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 2,236 | 1,509 |
Special Mention [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 5,617 | 3,512 |
Special Mention [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 2,155 | 2,023 |
Special Mention [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 528 | 580 |
Special Mention [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 13 | |
Special Mention [Member] | Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 567 | 3,096 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 14,726 | 18,211 |
Substandard [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,225 | 1,809 |
Substandard [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 2,818 | 5,381 |
Substandard [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,434 | 1,088 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 6,495 | 7,363 |
Substandard [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 9 | 41 |
Substandard [Member] | Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 2,739 | 2,509 |
Substandard [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 6 | $ 20 |
Allowance for Loan Losses - Per
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | $ 407,051 | $ 407,201 |
Total | 407,051 | 407,201 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 382,720 | 378,999 |
Total | 382,720 | 378,999 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 10,565 | 10,372 |
Total | 10,565 | 10,372 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 13,766 | 17,830 |
Total | $ 13,766 | $ 17,830 |
Allowance for Loan Losses - Agi
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 5,909 | $ 11,805 |
Current | 1,702,594 | 1,549,212 |
Total Loans | 1,708,970 | 1,561,941 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,008 | 8,328 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 342 | 1,449 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,559 | 2,028 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 467 | 924 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 168 | 317 |
Current | 202,942 | 176,743 |
Total Loans | 203,110 | 177,101 |
Commercial and Agriculture [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 27 | 225 |
Commercial and Agriculture [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 35 | |
Commercial and Agriculture [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 106 | 92 |
Commercial and Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 41 | |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,179 | 1,524 |
Current | 244,427 | 208,597 |
Total Loans | 245,606 | 210,121 |
Commercial Real Estate Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 453 | 547 |
Commercial Real Estate Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 63 | 413 |
Commercial Real Estate Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 663 | 564 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8 | 950 |
Current | 592,214 | 522,648 |
Total Loans | 592,222 | 523,598 |
Commercial Real Estate Non Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 288 | |
Commercial Real Estate Non Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 290 | |
Commercial Real Estate Non Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8 | 372 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,372 | 8,601 |
Current | 458,193 | 448,366 |
Total Loans | 463,032 | 457,850 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,399 | 7,118 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 198 | 677 |
Residential Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,775 | 806 |
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 467 | 883 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 39 | |
Current | 155,825 | 135,156 |
Total Loans | 155,825 | 135,195 |
Real Estate Construction [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12 | |
Real Estate Construction [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 27 | |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7 | 191 |
Current | 34,107 | 38,322 |
Total Loans | 34,114 | 38,513 |
Farm Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 33 | |
Farm Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7 | 158 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 175 | 183 |
Current | 14,886 | 19,380 |
Total Loans | 15,061 | 19,563 |
Consumer and Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 129 | 117 |
Consumer and Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 46 | 57 |
Consumer and Other [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 9 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Nonaccrual Loans Excluding Purchased Credit-Impaired (PCI) Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 5,599 | $ 5,869 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 173 | 270 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 938 | 942 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 8 | 374 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 4,183 | 3,886 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 9 | 41 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 284 | 338 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 4 | $ 18 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of TDR (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)Contract | Dec. 31, 2018USD ($)Contract | Dec. 31, 2017USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | 2 | 1 |
Pre- Modification Outstanding Recorded Investment | $ 382 | $ 133 | $ 13 |
Post-Modification Outstanding Recorded Investment | $ 382 | $ 133 | $ 13 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | ||
Pre- Modification Outstanding Recorded Investment | $ 382 | ||
Post-Modification Outstanding Recorded Investment | $ 382 | ||
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | 1 | |
Pre- Modification Outstanding Recorded Investment | $ 23 | $ 13 | |
Post-Modification Outstanding Recorded Investment | $ 23 | $ 13 | |
Farm Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | ||
Pre- Modification Outstanding Recorded Investment | $ 110 | ||
Post-Modification Outstanding Recorded Investment | $ 110 |
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 | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $ 3,146 | $ 1,864 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 3,218 | 1,939 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 451 | 993 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 455 | 996 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 91 | 141 |
Impaired financing receivables, Recorded Investment, Total | 3,597 | 2,857 |
Impaired financing receivables, Unpaid Principal Balance, Total | 3,673 | 2,935 |
Impaired financing receivables, Related Allowance, Total | 91 | 141 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 367 | 367 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 367 | 367 |
Impaired financing receivables, Recorded Investment, Total | 367 | 367 |
Impaired financing receivables, Unpaid Principal Balance, Total | 367 | 367 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 168 | 193 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 168 | 193 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 258 | 291 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 258 | 291 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 9 | 12 |
Impaired financing receivables, Recorded Investment, Total | 426 | 484 |
Impaired financing receivables, Unpaid Principal Balance, Total | 426 | 484 |
Impaired financing receivables, Related Allowance, Total | 9 | 12 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 374 | 31 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 374 | 34 |
Impaired financing receivables, Recorded Investment, Total | 374 | 31 |
Impaired financing receivables, Unpaid Principal Balance, Total | 374 | 34 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,571 | 1,017 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,643 | 1,089 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 193 | 262 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 197 | 265 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 82 | 122 |
Impaired financing receivables, Recorded Investment, Total | 1,764 | 1,279 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,840 | 1,354 |
Impaired financing receivables, Related Allowance, Total | 82 | 122 |
Farm Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 666 | 256 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 666 | 256 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 440 | |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 440 | |
Impaired financing receivables, with an allowance recorded, Related Allowance | 7 | |
Impaired financing receivables, Recorded Investment, Total | 666 | 696 |
Impaired financing receivables, Unpaid Principal Balance, Total | $ 666 | 696 |
Impaired financing receivables, Related Allowance, Total | $ 7 |
Allowance for Loan Losses - I_2
Allowance for Loan Losses - Impaired Loans - Average Recorded Investment and Interest Income Recognized (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | $ 3,085 | $ 3,520 | $ 5,243 |
Interest Income Recognized | 172 | 167 | 216 |
Commercial and Agriculture [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 367 | 636 | 1,375 |
Interest Income Recognized | 33 | 25 | 34 |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 456 | 610 | 1,507 |
Interest Income Recognized | 32 | 33 | 75 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 308 | 39 | 233 |
Interest Income Recognized | 20 | 5 | 6 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 1,271 | 1,519 | 1,515 |
Interest Income Recognized | 58 | 75 | 73 |
Farm Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 683 | 716 | 613 |
Interest Income Recognized | $ 29 | $ 29 | $ 28 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Schedule of Changes in Amortized Yield for PCI Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement Schedule Roll Forward | ||
Balance at beginning of period | $ 336 | $ 15 |
Acquisition of PCI loans | 0 | 334 |
Accretion | (164) | (13) |
Transfers from non-accretable to accretable | 83 | |
Balance at end of period | $ 255 | $ 336 |
Allowance for Loan Losses - S_3
Allowance for Loan Losses - Schedule of Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Receivables [Abstract] | ||
Outstanding balance | $ 1,149 | $ 1,805 |
Carrying amount | $ 467 | $ 924 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) - Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | $ 298,898 | $ 184,461 | $ 137,616 |
Total other comprehensive income (loss) | 8,326 | (50) | 1,412 |
Ending balance | 330,126 | 298,898 | 184,461 |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 2,347 | 3,185 | 2,008 |
Other comprehensive income (loss) before reclassifications | 10,561 | (886) | 620 |
Amounts reclassified from accumulated other comprehensive income (loss) | (25) | 326 | (8) |
Total other comprehensive income (loss) | 10,536 | (560) | 612 |
Reclassification of certain income tax effects from accumulated other comprehensive income (loss) | 565 | ||
Reclassification of equity securities from accumulated other comprehensive income (loss) | (278) | ||
Ending balance | 12,883 | 2,347 | 3,185 |
Defined Benefit Pension Items [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | (3,799) | (4,309) | (4,345) |
Other comprehensive income (loss) before reclassifications | (2,333) | 393 | 553 |
Amounts reclassified from accumulated other comprehensive income (loss) | 123 | 117 | 247 |
Total other comprehensive income (loss) | (2,210) | 510 | 800 |
Reclassification of certain income tax effects from accumulated other comprehensive income (loss) | (764) | ||
Ending balance | (6,009) | (3,799) | (4,309) |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | (1,452) | (1,124) | (2,337) |
Other comprehensive income (loss) before reclassifications | 8,228 | (493) | 1,173 |
Amounts reclassified from accumulated other comprehensive income (loss) | 98 | 443 | 239 |
Total other comprehensive income (loss) | 8,326 | (50) | 1,412 |
Reclassification of certain income tax effects from accumulated other comprehensive income (loss) | (199) | ||
Reclassification of equity securities from accumulated other comprehensive income (loss) | (278) | ||
Ending balance | $ 6,874 | $ (1,452) | $ (1,124) |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net gain (loss) on sale of securities | $ 32 | $ (413) | $ 12 | ||||||||
Other operating expenses | (9,288) | (7,335) | (6,410) | ||||||||
Income tax expense | (5,683) | (2,640) | (6,360) | ||||||||
Net income | $ 7,841 | $ 7,708 | $ 8,660 | $ 9,669 | $ 7,569 | $ (3,433) | $ 3,014 | $ 6,989 | 33,878 | 14,139 | 15,872 |
Reclassification out of Accumulated Other Comprehensive Loss [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net income | (98) | (443) | (239) | ||||||||
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 | 32 | (413) | 12 | ||||||||
Income tax expense | (7) | 87 | (4) | ||||||||
Net income | 25 | (326) | 8 | ||||||||
Accumulated Defined Benefit Plans Adjustment, Actuarial Losses [Member] | Reclassification out of Accumulated Other Comprehensive Loss [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Other operating expenses | (156) | (149) | (380) | ||||||||
Income tax expense | 33 | 32 | 133 | ||||||||
Net income | $ (123) | $ (117) | $ (247) |
Premises and Equipment - Year-E
Premises and Equipment - Year-End Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 56,686 | $ 54,397 |
Accumulated depreciation | (33,815) | (32,376) |
Premises and equipment, net | 22,871 | 22,021 |
Land and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 6,651 | 6,553 |
Buildings and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 28,047 | 27,013 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 21,988 | $ 20,831 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property Plant And Equipment [Abstract] | |||
Depreciation | $ 2,240 | $ 1,515 | $ 1,249 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Goodwill | $ 76,851 | $ 76,851 | |
Amortization of core deposit intangible assets | 945 | 366 | $ 586 |
Aggregate mortgage servicing rights (MSRs) amortization | $ 247 | $ 126 | $ 72 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Acquired Finite Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 8,305 | |
Core deposit intangibles [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 14,792 | $ 14,792 |
Accumulated Amortization | 8,049 | 7,104 |
Net Carrying Amount | $ 6,743 | $ 7,688 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Mortgage Servicing Rights (MSRs) and Related Valuation Allowance (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loan Servicing Rights: | ||
Beginning of year | $ 1,664 | $ 743 |
Additions | 247 | 1,047 |
Amortized to expense | 247 | 126 |
Change in valuation allowance | 102 | |
End of year | 1,562 | $ 1,664 |
Valuation allowance: | ||
Additions expensed | 102 | |
End of year | $ 102 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Schedule of Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Acquired Finite Lived Intangible Assets [Line Items] | ||
2020 | $ 1,003 | |
2021 | 980 | |
2022 | 956 | |
2023 | 927 | |
2024 | 890 | |
Thereafter | 3,549 | |
Net Carrying Amount | 8,305 | |
MSRs [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
2020 | 89 | |
2021 | 89 | |
2022 | 88 | |
2023 | 87 | |
2024 | 86 | |
Thereafter | 1,123 | |
Net Carrying Amount | 1,562 | |
Core deposit intangibles [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
2020 | 914 | |
2021 | 891 | |
2022 | 868 | |
2023 | 840 | |
2024 | 804 | |
Thereafter | 2,426 | |
Net Carrying Amount | $ 6,743 | $ 7,688 |
Interest-Bearing Deposits - Sum
Interest-Bearing Deposits - Summary of Interest-Bearing Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Banking And Thrift [Abstract] | ||
Demand | $ 301,674 | $ 261,996 |
Savings and Money markets | 588,697 | 582,128 |
$250 and over | 58,290 | 42,815 |
Certificates of Deposit: Other | 168,928 | 173,445 |
Individual Retirement Accounts | 48,622 | 51,426 |
Total | $ 1,166,211 | $ 1,111,810 |
Interest-Bearing Deposits - Sch
Interest-Bearing Deposits - Scheduled Maturities of Certificates of Deposit (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Banking And Thrift [Abstract] | |
2020 | $ 171,220 |
2021 | 73,991 |
2022 | 23,344 |
2023 | 4,986 |
2024 | 1,261 |
Thereafter | 1,038 |
Total | $ 275,840 |
Interest-Bearing Deposits - Add
Interest-Bearing Deposits - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deposits [Line Items] | ||
Total deposits | $ 1,678,764 | $ 1,579,893 |
Total of CDs and IRAs | 61,552 | |
Principal officers, directors, and their affiliates [Member] | ||
Deposits [Line Items] | ||
Total deposits | $ 8,917 | $ 6,925 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Federal Funds Purchased and Other Short-term Borrowings (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Federal Funds Purchased [Member] | |||
Short-term Debt [Line Items] | |||
Maximum indebtedness during the year | $ 20,000,000 | $ 20,000,000 | $ 20,000,000 |
Average balance during the year | $ 137,000 | $ 116,000 | $ 119,000 |
Average rate paid during the year | 2.19% | 2.58% | 1.68% |
Short Term Borrowings, FHLB advances [Member] | |||
Short-term Debt [Line Items] | |||
Outstanding balance at year end | $ 101,500,000 | $ 188,600,000 | $ 56,900,000 |
Maximum indebtedness during the year | 192,700,000 | 225,300,000 | 115,050,000 |
Average balance during the year | $ 112,088,000 | $ 113,520,000 | $ 38,825,000 |
Average rate paid during the year | 2.32% | 2.07% | 1.12% |
Interest rate on year end balance | 1.63% | 2.45% | 1.42% |
Federal Home Loan Bank Advanc_3
Federal Home Loan Bank Advances - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Advances from FHLB | $ 125,000 | $ 5,000 |
Maturities, from | 2029-05 | |
Maturities, to | 2029-10 | |
Outstanding letters of credit with FHLB | $ 20,000 | 20,000 |
FHLB borrowings collateralized by residential mortgage loans | 369,750 | $ 320,400 |
FHLB maximum borrowing capacity | 564,516 | |
FHLB remaining borrowing capacity | $ 318,016 | |
Minimum [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Maturities from May 2029 through October 2029, fixed rates | 1.03% | |
Maximum [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Maturities from May 2029 through October 2029, fixed rates | 2.05% | |
Weighted Average [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Maturities from May 2029 through October 2029, fixed rates | 1.44% |
Federal Home Loan Bank Advanc_4
Federal Home Loan Bank Advances - Scheduled Principal Reductions of Federal Home Loan Bank Advances Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Banking And Thrift [Abstract] | ||
2029 | $ 125,000 | |
Total | $ 125,000 | $ 5,000 |
Securities Sold Under Agreeme_3
Securities Sold Under Agreements To Repurchase - Summary of Securities Pledged as Collateral Under Repurchase Agreements (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Offsetting Liabilities [Line Items] | |||
Total securities pledged | $ 18,674 | $ 22,199 | $ 21,755 |
Gross amount of recognized liabilities for repurchase agreements | 18,674 | 22,199 | |
Amounts related to agreements not included in offsetting disclosures above | 0 | 0 | |
U.S.Treasury Securities [Member] | |||
Offsetting Liabilities [Line Items] | |||
Total securities pledged | 810 | 861 | |
Obligations of U.S. Government Agencies [Member] | |||
Offsetting Liabilities [Line Items] | |||
Total securities pledged | $ 17,864 | $ 21,338 |
Securities Sold Under Agreeme_4
Securities Sold Under Agreements to Repurchase - Schedule of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | |||
Outstanding balance at year end | $ 18,674 | $ 22,199 | $ 21,755 |
Average balance during the year | $ 18,321 | $ 18,456 | $ 18,234 |
Average interest rate during the year | 0.10% | 0.10% | 0.10% |
Maximum month-end balance during the year | $ 21,970 | $ 22,199 | $ 23,889 |
Weighted average interest rate at year end | 0.10% | 0.10% | 0.10% |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | ||||
Mar. 31, 2007USD ($) | Mar. 31, 2003USD ($) | Mar. 31, 2002USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2007Trust_Preferred_Securities | Sep. 30, 2004USD ($) | |
Subordinated Borrowing [Line Items] | ||||||
Redeem and refinance of floating rate subordinated debenture | $ 5,000,000 | |||||
Refinancing at face value, reduction rate | 2.00% | |||||
Subordinated debenture, maturity period | 30 years | |||||
Subordinated debentures, principal amount percentage | 100.00% | |||||
Minimum [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Subordinated debentures may redeem part of principal amount | $ 1,000,000 | |||||
Futura Ban Corp [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Number of additional trust preferred securities acquired | Trust_Preferred_Securities | 2 | |||||
4.41% Debenture [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Debt, face amount | $ 12,500,000 | |||||
Debt, variable interest rate | 4.41% | |||||
Redemption of subordinated debentures description | The Company may redeem the subordinated debentures, in whole or in part, in a principal amount with integral multiples of $1,000, at 100% of the principal amount, plus accrued and unpaid interest. | |||||
Subordinated Debentures [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Subordinated debenture, maturity date | Jun. 15, 2035 | |||||
5.26% Debenture [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Debt, face amount | $ 7,500,000 | |||||
Debt, variable interest rate | 5.26% | |||||
3.72% Debenture [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Debt, face amount | $ 5,000,000 | |||||
Debt, variable interest rate | 3.72% | |||||
6.05% Fixed Rate Trust Preferred Securities [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Debt, face amount | $ 12,500,000 | |||||
Debt, interest rate | 6.05% | |||||
Debt instrument fixed interest rate period | 5 years | |||||
3.78% Debenture [Member] | Futura TPF Trust I [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Debt, face amount | $ 2,500,000 | |||||
Debt instrument, variable interest rate percentage | 3.78% | |||||
3.78% Debenture [Member] | Futura TPF Trust II [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Debt, face amount | $ 1,927,000 | |||||
Debt instrument, variable interest rate percentage | 3.78% | |||||
Subordinated Debenture [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Issuance of Trust Preferred Securities in exchange for Subordinated Debentures | $ 5,000,000 | |||||
Trust Preferred Securities [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Issuance of Trust Preferred Securities in exchange for Subordinated Debentures | $ 7,500,000 | |||||
Trust Preferred Securities [Member] | Futura TPF Trust I [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Acquired trust preferred securities | $ 2,500,000 | |||||
Trust Preferred Securities [Member] | Futura TPF Trust II [Member] | ||||||
Subordinated Borrowing [Line Items] | ||||||
Acquired trust preferred securities | $ 1,927,000 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Expense Benefit Continuing Operations [Abstract] | |||
Current | $ 4,713 | $ 2,444 | $ 5,414 |
State | 307 | 45 | |
Deferred | 663 | 151 | 435 |
Change in corporate tax rate | 511 | ||
Income tax expense | $ 5,683 | $ 2,640 | $ 6,360 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Statutory federal income tax rate | 21.00% | 21.00% | 35.00% |
Increase in income tax expense | $ 511,000 | ||
Valuation allowance | $ 0 | $ 0 | |
Liability for uncertain tax positions, current | 0 | ||
Unrecognized tax benefits | $ 0 |
Income Taxes - Effective Tax Ra
Income Taxes - Effective Tax Rates Differed from Statutory Federal Income Tax Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Income taxes computed at the statutory federal tax rate | $ 8,308 | $ 3,524 | $ 7,781 |
Add (subtract) tax effect of: | |||
Nontaxable interest income, net of nondeductible interest expense | (1,194) | (834) | (1,107) |
Low income housing tax credit | (903) | (903) | (686) |
Cash surrender value of BOLI | (211) | (143) | (201) |
Nondeductible merger costs | 1,034 | ||
Change in corporate tax rate | 511 | ||
Change in tax position BOLI | (353) | ||
Other | 36 | (38) | 62 |
Income tax expense | $ 5,683 | $ 2,640 | $ 6,360 |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets | ||
Allowance for loan losses | $ 3,245 | $ 3,056 |
Deferred compensation | 1,191 | 1,217 |
Pension costs | 81 | |
Intangible assets | 394 | 475 |
Purchase accounting adjustments | 226 | 566 |
Net operating loss carryforward | 1,081 | 1,374 |
Other | 220 | 364 |
Deferred tax asset | 6,438 | 7,052 |
Deferred tax liabilities | ||
Tax depreciation in excess of book depreciation | (808) | (556) |
Discount accretion on securities | (18) | (31) |
FHLB stock dividends | (969) | (1,053) |
Unrealized gain on securities available for sale | (3,424) | (624) |
Pension costs | (469) | |
Prepaids | (326) | (301) |
BOLI | (337) | |
Other | (359) | (271) |
Deferred tax liability | (5,904) | (3,642) |
Net deferred tax asset | $ 534 | $ 3,410 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2019USD ($)Employee | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan name | 401(k) plan | ||
Matching contribution to 401(k) plan | $ 1,074,000 | $ 892,000 | $ 805,000 |
Employer matching contribution description | The Company’s matching contribution is 100% of an employee’s first three percent contributed and 50% of the next two percent contributed. | ||
Pension plan eligibility age of employees | 20 years 6 months | ||
Pension plan eligibility service period of employees | 6 months | ||
Pension plan eligibility service hours of employees | 1000 hours | ||
Additional benefits under pension plan | $ 0 | ||
Interest expense | 12,954,000 | 7,570,000 | 4,092,000 |
Unrecognized actuarial loss in accumulated other comprehensive income (loss), net of tax | 6,009,000 | 3,799,000 | |
Unrecognized actuarial loss in accumulated other comprehensive income (loss), tax | 1,597,000 | 1,010,000 | |
Accumulated benefit obligation for defined benefit pension plan | 15,570,000 | 13,338,000 | |
Estimated net loss that will be amortized over the next fiscal year | 156,000 | ||
Incurred settlement cost | $ 0 | $ 1,188,000 | $ 237,000 |
Rate of compensation increase used to determine the benefit obligation | 0.00% | 0.00% | 0.00% |
Long-term rate of return on plan assets | 4.96% | 7.00% | 7.00% |
Expected future employer contributions | $ 0 | ||
Employer contribution | 0 | $ 0 | |
Funded status at end of year | (387,000) | 2,234,000 | |
Shortfall Agreements [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension shortfall expense | 161,000 | 180,000 | $ 18,000 |
Interest expense | $ 20,000 | 24,000 | 18,000 |
Number of individuals under plan | Employee | 10 | ||
Supplemental Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Maximum retirement year for participants | 10 years | ||
Liability recorded for supplemental retirement plan | $ 2,836,000 | 2,570,000 | |
Expenses recorded for supplemental retirement plan | 394,000 | 351,000 | 365,000 |
Total distribution to participant | $ 128,000 | $ 87,000 | $ 41,000 |
Retirement Plans - Information
Retirement Plans - Information about Pension Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Change in benefit obligation: | |||
Beginning benefit obligation | $ 13,338 | $ 17,916 | |
Service cost | 0 | $ 0 | |
Interest cost | 479 | 627 | 679 |
Curtailment gain | 0 | ||
Settlement loss | 98 | ||
Actuarial (gain)/loss | 3,546 | (1,800) | |
Benefits paid | (1,793) | (104) | |
Settlement payments | (3,399) | ||
Ending benefit obligation | 15,570 | 13,338 | 17,916 |
Change in plan assets, at fair value: | |||
Beginning plan assets | 15,572 | 19,306 | |
Actual return | 1,404 | (207) | |
Employer contribution | 0 | 0 | |
Benefits paid | (1,793) | (104) | |
Settlement payments | (3,399) | ||
Administrative expenses | (24) | ||
Ending plan assets | 15,183 | 15,572 | $ 19,306 |
Funded status at end of year | $ (387) | $ 2,234 |
Retirement Plans - Components o
Retirement Plans - Components of Net Periodic Pension Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |||
Service cost | $ 0 | $ 0 | |
Interest cost | $ 479 | 627 | 679 |
Expected return on plan assets | (811) | (1,355) | (1,178) |
Net amortization and deferral | 156 | 149 | 380 |
Net periodic pension cost (benefit) | (176) | (579) | (119) |
Additional loss due to settlement | 0 | 1,188 | 237 |
Total pension cost (benefit) | (176) | 609 | 118 |
Net loss (gain) recognized in other comprehensive income | 2,798 | (1,453) | (322) |
Total recognized in net periodic benefit cost and other comprehensive loss (before tax) | $ 2,622 | $ (2,032) | $ (441) |
Retirement Plans - Weighted Ave
Retirement Plans - Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |||
Discount rate on benefit obligation | 3.13% | 4.14% | 3.51% |
Long-term rate of return on plan assets | 4.96% | 7.00% | 7.00% |
Rate of compensation increase | 0.00% | 0.00% | 0.00% |
Discount rate on benefit obligation | 4.14% | 3.51% | 4.00% |
Long-term rate of return on plan assets | 7.00% | 7.00% | 7.00% |
Rate of compensation increase | 0.00% | 0.00% | 0.00% |
Retirement Plans - Schedule of
Retirement Plans - Schedule of Pension Plan Asset Allocation and Target Allocation by Asset Category (Detail) | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets at Year-end | 100.00% | 100.00% |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets at Year-end | 20.00% | 33.10% |
Equity Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 0.00% | |
Equity Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 30.00% | |
Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets at Year-end | 80.00% | 20.70% |
Debt Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 70.00% | |
Debt Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 100.00% | |
Money Market Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets at Year-end | 0.00% | 46.20% |
Money Market Funds [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 0.00% |
Retirement Plans - Plan's Asset
Retirement Plans - Plan's Assets at Fair Value Hierarchy (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | $ 15,183 | $ 15,572 | $ 19,306 |
Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 2,689 | ||
Common/Collective Trust, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 12,146 | 3,221 | |
Common/Collective Trust, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 3,037 | 5,153 | |
Common/Collective Trust, Money Market [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 4,509 | ||
(Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 15,183 | 15,572 | |
(Level 1) [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 2,689 | ||
(Level 1) [Member] | Common/Collective Trust, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 12,146 | 3,221 | |
(Level 1) [Member] | Common/Collective Trust, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | $ 3,037 | 5,153 | |
(Level 1) [Member] | Common/Collective Trust, Money Market [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 4,509 | ||
(Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 2) [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 2) [Member] | Common/Collective Trust, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 2) [Member] | Common/Collective Trust, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 2) [Member] | Common/Collective Trust, Money Market [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 3) [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 3) [Member] | Common/Collective Trust, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 3) [Member] | Common/Collective Trust, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 0 | ||
(Level 3) [Member] | Common/Collective Trust, Money Market [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | $ 0 |
Retirement Plans - Summary of E
Retirement Plans - Summary of Expected Benefit Payments (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |
2020 | $ 204 |
2021 | 246 |
2022 | 314 |
2023 | 375 |
2024 | 416 |
2025 through 2029 | 480 |
Total | $ 2,035 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share based compensation - Civista BOD | $ 531 | $ 428 | $ 426 | |
Expected future compensation expense | $ 498 | |||
Weighted average remaining life of grants related to unvested awards not yet recognized | 2 years 3 months | |||
Civista Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted common shares granted | 8,946 | 7,071 | 7,171 | |
Share based compensation - Civista BOD | $ 196 | $ 165 | $ 152 | |
Restricted Stock [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted shares vesting service period | 3 years | |||
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 | 240,001 | |||
Options granted | 0 | 0 | ||
Share based compensation expense | $ 335 | $ 263 | 274 | |
Director retainer fees | 196 | $ 165 | $ 152 | |
Expected future compensation expense | $ 498 | |||
Weighted average remaining life of grants related to unvested awards not yet recognized | 2 years 3 months |
Equity Incentive Plan - Summary
Equity Incentive Plan - Summary of Company's Restricted Stock (Detail) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($)$ / sharesshares | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 44,027 |
Expected future remaining compensation expense | $ | $ 498 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years 3 months |
Restricted Shares Awarded on January 15, 2016 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 4,108 |
Date of Award | Jan. 15, 2016 |
Expected future remaining compensation expense | $ | $ 21 |
Expected future compensation expense, restricted shares remaining vesting period | 1 year |
Restricted Shares Awarded on March 20, 2017 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 3,725 |
Date of Award | Mar. 20, 2017 |
Expected future compensation expense, restricted shares remaining vesting period | 0 years |
Restricted Shares Awarded on March 20, 2017 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 3,581 |
Date of Award | Mar. 20, 2017 |
Expected future remaining compensation expense | $ | $ 49 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years |
Restricted Shares Awarded on April 10, 2018 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 5,282 |
Date of Award | Apr. 10, 2018 |
Expected future remaining compensation expense | $ | $ 47 |
Expected future compensation expense, restricted shares remaining vesting period | 1 year |
Restricted Shares Awarded on April 10, 2018 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 6,225 |
Date of Award | Apr. 10, 2018 |
Expected future remaining compensation expense | $ | $ 93 |
Expected future compensation expense, restricted shares remaining vesting period | 3 years |
Restricted Shares Awarded on March 14, 2019 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 10,188 |
Date of Award | Mar. 14, 2019 |
Expected future remaining compensation expense | $ | $ 130 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years |
Restricted Shares Awarded on March 14, 2019 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 10,918 |
Date of Award | Mar. 14, 2019 |
Expected future remaining compensation expense | $ | $ 158 |
Expected future compensation expense, restricted shares remaining vesting period | 4 years |
Restricted Stock [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Nonvested at beginning of period | 39,970 |
Number of Restricted Shares, Granted | 21,106 |
Number of Restricted Shares, Vested | (16,557) |
Number of Restricted Shares, Forfeited | (492) |
Number of Restricted Shares, Nonvested at end of period | 44,027 |
Weighted Average Grant Date Fair Value, Nonvested at beginning of period | $ / shares | $ 19.10 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 20.65 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 17.31 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 22.41 |
Weighted Average Grant Date Fair Value, Nonvested at end of period | $ / shares | $ 20.48 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | $ 358,499 | $ 346,294 |
Equity securities | 1,191 | 1,070 |
Assets | 0 | 0 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | 358,499 | 346,294 |
Equity securities | 1,191 | 1,070 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Swap asset | 8,918 | 2,837 |
Swap liability | 8,918 | 2,837 |
(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] | ||
Total securities available for sale | 19,601 | 30,685 |
(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] | ||
Total securities available for sale | 206,034 | 172,071 |
(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] | ||
Total securities available for sale | 132,864 | 143,538 |
(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 | $ 1,803 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 0 | $ 0 |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 1 | $ 1,803 |
Valuation Technique [Extensible List] | civb:AppraisalOfCollateralMember | civb:AppraisalOfCollateralMember |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Unobservable Input | 30 | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Unobservable Input | 30 | 26 |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Unobservable Input | 0 | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Unobservable Input | 30 | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input Holding Period [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Term | 22 months | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input Holding Period [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Term | 22 months | 21 months |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input Holding Period [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Term | 0 months | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input Holding Period [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Term | 30 months | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input Liquidation Expense [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Unobservable Input | 8 | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input Liquidation Expense [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Unobservable Input | 0 | |
Assets Measured at Fair Value on a Nonrecurring Basis [Member] | (Level 3) [Member] | Impaired Loans [Member] | Measurement Input Liquidation Expense [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Unobservable Input | 10 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Financial Assets: | ||||
Cash and due from financial institutions | $ 48,535 | $ 42,779 | $ 40,519 | $ 36,695 |
Other securities | 20,280 | 21,021 | ||
Loans, net of allowance for loan losses | 1,694,203 | 1,548,262 | ||
Bank owned life insurance | 44,999 | 43,037 | ||
Accrued interest receivable | 7,093 | 6,723 | ||
Financial Liabilities: | ||||
Time deposits | 275,840 | |||
Short-term FHLB advances | 125,000 | |||
Long-term FHLB advances | 125,000 | 5,000 | ||
Securities sold under agreement to repurchase | 18,674 | 22,199 | $ 21,755 | |
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 48,535 | 42,779 | ||
Other securities | 20,280 | 21,021 | ||
Loans, held for sale | 2,285 | 1,391 | ||
Loans, net of allowance for loan losses | 1,694,203 | 1,548,262 | ||
Bank owned life insurance | 44,999 | 43,037 | ||
Accrued interest receivable | 7,093 | 6,723 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 1,402,924 | 1,312,207 | ||
Time deposits | 275,840 | 267,686 | ||
Short-term FHLB advances | 101,500 | 188,600 | ||
Long-term FHLB advances | 125,000 | 5,000 | ||
Securities sold under agreement to repurchase | 18,674 | 22,199 | ||
Subordinated debentures | 29,427 | 29,427 | ||
Accrued interest payable | 277 | 230 | ||
Total Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 48,535 | 42,779 | ||
Other securities | 20,280 | 21,021 | ||
Loans, held for sale | 2,331 | 1,391 | ||
Loans, net of allowance for loan losses | 1,713,863 | 1,517,278 | ||
Bank owned life insurance | 44,999 | 43,037 | ||
Accrued interest receivable | 7,093 | 6,723 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 1,402,924 | 1,312,207 | ||
Time deposits | 276,616 | 267,943 | ||
Short-term FHLB advances | 101,500 | 188,600 | ||
Long-term FHLB advances | 123,893 | 4,983 | ||
Securities sold under agreement to repurchase | 18,674 | 22,199 | ||
Subordinated debentures | 34,452 | 34,620 | ||
Accrued interest payable | 277 | 230 | ||
(Level 1) [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 48,535 | 42,779 | ||
Other securities | 20,280 | 21,021 | ||
Loans, held for sale | 2,331 | 1,391 | ||
Bank owned life insurance | 44,999 | 43,037 | ||
Accrued interest receivable | 7,093 | 6,723 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 1,402,924 | 1,312,207 | ||
Short-term FHLB advances | 101,500 | 188,600 | ||
Securities sold under agreement to repurchase | 18,674 | 22,199 | ||
Accrued interest payable | 277 | 230 | ||
(Level 3) [Member] | ||||
Financial Assets: | ||||
Loans, net of allowance for loan losses | 1,713,863 | 1,517,278 | ||
Financial Liabilities: | ||||
Time deposits | 276,616 | 267,943 | ||
Long-term FHLB advances | 123,893 | 4,983 | ||
Subordinated debentures | $ 34,452 | $ 34,620 |
Commitments, Contingencies an_3
Commitments, Contingencies and Off-Balance-Sheet Risk - Contractual Amounts of Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | $ 15,784 | $ 15,611 |
Variable Rate | 434,578 | 397,271 |
Lines of Credit and Construction Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 15,155 | 14,984 |
Variable Rate | 396,516 | 359,220 |
Overdraft Protection [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 5 | 3 |
Variable Rate | 37,286 | 37,201 |
Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 624 | 624 |
Variable Rate | $ 776 | $ 850 |
Commitments, Contingencies an_4
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
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 | |
Reserve balance under Federal Reserve Board requirements | $ 7,127 | $ 8,891 |
Minimum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Range of fixed interest rate loan commitments | 4.50% | 2.88% |
Maximum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Range of fixed interest rate loan commitments | 8.00% | 8.50% |
Capital Requirements and Rest_3
Capital Requirements and Restriction on Retained Earnings - Actual Capital Levels and Minimum Required Capital Levels (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Consolidated [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Risk Based Capital, Actual, Amount | $ 285,268 | $ 260,531 |
Tier I Risk Based Capital, Actual, Amount | 270,501 | 246,852 |
CET1 Risk Based Capital, Actual, Amount | 241,074 | 208,061 |
Leverage, Actual, Amount | $ 270,501 | $ 246,852 |
Total Risk Based Capital, Actual, Ratio | 16.10% | 16.10% |
Tier I Risk Based Capital, Actual, Ratio | 15.30% | 15.30% |
CET1 Risk Based Capital, Actual, Ratio | 13.60% | 12.90% |
Leverage, Actual, Ratio | 12.30% | 12.80% |
Total Risk Based Capital , For Capital Adequacy Purposes, Amount | $ 141,506 | $ 129,080 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Amount | 106,129 | 96,810 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Amount | 79,597 | 72,608 |
Leverage, For Capital Adequacy Purposes, Amount | $ 87,652 | $ 80,788 |
Total Risk Based Capital , For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Leverage, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Civista [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Risk Based Capital, Actual, Amount | $ 250,920 | $ 228,620 |
Tier I Risk Based Capital, Actual, Amount | 235,094 | 213,922 |
CET1 Risk Based Capital, Actual, Amount | 224,653 | 203,441 |
Leverage, Actual, Amount | $ 235,094 | $ 213,922 |
Total Risk Based Capital, Actual, Ratio | 14.20% | 14.20% |
Tier I Risk Based Capital, Actual, Ratio | 13.30% | 13.30% |
CET1 Risk Based Capital, Actual, Ratio | 12.70% | 12.60% |
Leverage, Actual, Ratio | 10.80% | 10.60% |
Total Risk Based Capital , For Capital Adequacy Purposes, Amount | $ 141,445 | $ 128,918 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Amount | 106,084 | 96,689 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Amount | 79,563 | 72,517 |
Leverage, For Capital Adequacy Purposes, Amount | $ 87,362 | $ 80,642 |
Total Risk Based Capital , For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Leverage, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Total Risk Based Capital , To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | $ 176,807 | $ 161,407 |
Tier I Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | 141,445 | 129,125 |
CET1 Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | 114,924 | 104,914 |
Leverage, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | $ 109,203 | $ 100,802 |
Total Risk Based Capital , To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 10.00% | 10.00% |
Tier I Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 8.00% | 8.00% |
CET1 Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 6.50% | 6.50% |
Leverage, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 5.00% | 5.00% |
Capital Requirements and Rest_4
Capital Requirements and Restriction on Retained Earnings - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Capital Requirements And Restriction On Retained Earnings [Abstract] | |
Net profits available to pay dividends to CBI | $ 53,609 |
Parent Company Only Condensed_3
Parent Company Only Condensed Financial Information - Schedule of Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||||
Equity securities | $ 1,191 | $ 1,070 | ||
Other assets | 24,445 | 20,153 | ||
Total assets | 2,309,557 | 2,138,954 | ||
LIABILITIES | ||||
Subordinated debentures | 29,427 | 29,427 | ||
Total liabilities | 1,979,431 | 1,840,056 | ||
SHAREHOLDERS’ EQUITY | ||||
Preferred stock | 9,364 | |||
Common stock | 276,422 | 266,901 | ||
Accumulated earnings | 67,974 | 41,320 | ||
Treasury Stock | (21,144) | (17,235) | ||
Accumulated other comprehensive loss | 6,874 | (1,452) | ||
Total shareholders’ equity | 330,126 | 298,898 | $ 184,461 | $ 137,616 |
Total liabilities and shareholders’ equity | 2,309,557 | 2,138,954 | ||
CBI[Member] | ||||
ASSETS | ||||
Cash | 24,089 | 19,678 | $ 29,908 | $ 4,747 |
Equity securities | 1,191 | 1,070 | ||
Investment in bank subsidiary | 319,714 | 288,866 | ||
Investment in nonbank subsidiaries | 15,181 | 14,081 | ||
Other assets | 1,683 | 7,639 | ||
Total assets | 361,858 | 331,334 | ||
LIABILITIES | ||||
Deferred income taxes and other liabilities | 2,305 | 3,009 | ||
Subordinated debentures | 29,427 | 29,427 | ||
Total liabilities | 31,732 | 32,436 | ||
SHAREHOLDERS’ EQUITY | ||||
Preferred stock | 9,364 | |||
Common stock | 276,422 | 266,901 | ||
Accumulated earnings | 67,974 | 41,320 | ||
Treasury Stock | (21,144) | (17,235) | ||
Accumulated other comprehensive loss | 6,874 | (1,452) | ||
Total shareholders’ equity | 330,126 | 298,898 | ||
Total liabilities and shareholders’ equity | $ 361,858 | $ 331,334 |
Parent Company Only Condensed_4
Parent Company Only Condensed Financial Information - Schedule of Condensed Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Condensed Financial Statements Captions [Line Items] | |||||||||||
Interest expense | $ (12,954) | $ (7,570) | $ (4,092) | ||||||||
Income tax expense | (5,683) | (2,640) | (6,360) | ||||||||
Net income | $ 7,841 | $ 7,708 | $ 8,660 | $ 9,669 | $ 7,569 | $ (3,433) | $ 3,014 | $ 6,989 | 33,878 | 14,139 | 15,872 |
Comprehensive income | 42,204 | 14,089 | 17,284 | ||||||||
CBI[Member] | |||||||||||
Condensed Financial Statements Captions [Line Items] | |||||||||||
Dividends from bank subsidiaries | 13,300 | 10,000 | |||||||||
Interest expense | (1,423) | (1,320) | (1,035) | ||||||||
Pension expense | 176 | 199 | (925) | ||||||||
Acquisition expense | (10,738) | ||||||||||
Other expense, net | (1,107) | (1,740) | (1,071) | ||||||||
Income (loss) before equity in undistributed net earnings of subsidiaries | 10,946 | (3,599) | (3,031) | ||||||||
Income tax expense | 494 | 1,751 | 1,407 | ||||||||
Equity in undistributed net earnings of subsidiaries | 22,438 | 15,987 | 17,496 | ||||||||
Net income | 33,878 | 14,139 | 15,872 | ||||||||
Comprehensive income | $ 42,204 | $ 14,089 | $ 17,284 |
Parent Company Only Condensed_5
Parent Company Only Condensed Financial Information - Schedule of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating activities: | |||
Net income | $ 33,878 | $ 14,139 | $ 15,872 |
Adjustment to reconcile net income to net cash from operating activities: | |||
Gain on sale of fixed assets | 33 | (147) | (67) |
Net cash from operating activities | 39,526 | 19,957 | 20,819 |
Cash flows used for investing activities: | |||
Proceeds from sale of premises and equipment | 2 | 1,190 | 139 |
Acquisition, net of cash acquired | 143,797 | ||
Net cash used for investing activities | (150,509) | (34,118) | (146,180) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | 32,821 | ||
Payment to repurchase series B preferred stock | (402) | ||
Cash payment for repurchase of common stock | (3,909) | (4) | |
Net cash from financing activities | 116,739 | 16,421 | 129,185 |
CBI[Member] | |||
Operating activities: | |||
Net income | 33,878 | 14,139 | 15,872 |
Adjustment to reconcile net income to net cash from operating activities: | |||
Change in other assets and other liabilities | 4,437 | 794 | (2,147) |
Gain on sale of fixed assets | (110) | (66) | |
Equity in undistributed net earnings of subsidiaries | (22,438) | (15,987) | (17,496) |
Net cash from operating activities | 15,877 | (1,164) | (3,837) |
Cash flows used for investing activities: | |||
Proceeds from sale of premises and equipment | 899 | 138 | |
Disposal of investment in subsidiary | 41 | ||
Acquisition, net of cash acquired | (5,216) | (275) | |
Net cash used for investing activities | 41 | (4,317) | (137) |
Cash flows from financing activities: | |||
Cash paid on fractional shares on preferred stock conversion to common stock | (2) | ||
Net proceeds from common stock issuance | 32,821 | ||
Purchase of treasury stock | (3,909) | ||
Payment to repurchase series B preferred stock | (402) | ||
Cash payment for repurchase of common stock | (4) | ||
Cash dividends paid | (7,194) | (4,749) | (3,682) |
Net cash from financing activities | (11,507) | (4,749) | 29,135 |
Net change in cash and cash equivalents | 4,411 | (10,230) | 25,161 |
Cash and cash equivalents at beginning of year | 19,678 | 29,908 | 4,747 |
Cash and cash equivalents at end of year | $ 24,089 | $ 19,678 | $ 29,908 |
Preferred Shares - Additional i
Preferred Shares - Additional information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Feb. 15, 2014 | Dec. 19, 2013 | Dec. 31, 2018 |
Preferred Stock [Line Items] | |||
Preferred shares, liquidation preference | $ 1,000 | ||
Depositary Shares [Member] | |||
Preferred Stock [Line Items] | |||
Newly issued shares | 1,000,000 | ||
Percentage of ownership Interest | 6.50% | ||
Share issued price per share | $ 25 | ||
Gross proceeds from public offering | $ 25,000 | ||
Series B Preferred Stock [Member] | |||
Preferred Stock [Line Items] | |||
Preferred shares, liquidation preference | $ 1,000 | ||
Dividend on preferred stock | 6.50% | ||
Series A Preferred Stock [Member] | |||
Preferred Stock [Line Items] | |||
Aggregate purchase price of Preferred stock | $ 22,857 | ||
Preferred stock redemption date | Feb. 15, 2014 |
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 | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Basic | |||||||||||
Net income | $ 7,841 | $ 7,708 | $ 8,660 | $ 9,669 | $ 7,569 | $ (3,433) | $ 3,014 | $ 6,989 | $ 33,878 | $ 14,139 | $ 15,872 |
Preferred stock dividends | 647 | 959 | 1,244 | ||||||||
Net income available to common shareholders | $ 33,231 | $ 13,180 | $ 14,628 | ||||||||
Weighted average common shares outstanding for earnings per common share basic | 15,652,881 | 11,971,786 | 9,906,856 | ||||||||
Basic earnings per share | $ 0.48 | $ 0.48 | $ 0.55 | $ 0.61 | $ 0.48 | $ (0.31) | $ 0.26 | $ 0.65 | $ 2.12 | $ 1.10 | $ 1.48 |
Diluted | |||||||||||
Net income available to common shareholders—basic | $ 33,231 | $ 13,180 | $ 14,628 | ||||||||
Preferred stock dividends | 647 | 959 | 1,244 | ||||||||
Net income available to common shareholders—diluted | $ 33,878 | $ 14,139 | $ 15,872 | ||||||||
Weighted average common shares outstanding for earnings per common share basic | 15,652,881 | 11,971,786 | 9,906,856 | ||||||||
Add: dilutive effects of convertible preferred shares | 1,198,859 | 1,883,921 | 2,445,760 | ||||||||
Average shares and dilutive potential common shares outstanding—diluted | 16,851,740 | 13,855,707 | 12,352,616 | ||||||||
Diluted earnings per share | $ 0.47 | $ 0.46 | $ 0.51 | $ 0.57 | $ 0.45 | $ (0.31) | $ 0.24 | $ 0.55 | $ 2.01 | $ 1.02 | $ 1.28 |
Quarterly Financial Data (Una_3
Quarterly Financial Data (Unaudited) - Schedule of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement [Abstract] | |||||||||||
Interest Income | $ 24,521 | $ 24,023 | $ 24,926 | $ 24,584 | $ 23,707 | $ 17,886 | $ 16,160 | $ 15,924 | $ 98,054 | $ 73,677 | $ 58,594 |
Net Interest Income | 21,222 | 20,418 | 21,741 | 21,719 | 20,745 | 15,824 | 14,766 | 14,772 | 85,100 | 66,107 | 54,502 |
Net Income (Loss) | $ 7,841 | $ 7,708 | $ 8,660 | $ 9,669 | $ 7,569 | $ (3,433) | $ 3,014 | $ 6,989 | $ 33,878 | $ 14,139 | $ 15,872 |
Basic Earnings (loss) per Common Share | $ 0.48 | $ 0.48 | $ 0.55 | $ 0.61 | $ 0.48 | $ (0.31) | $ 0.26 | $ 0.65 | $ 2.12 | $ 1.10 | $ 1.48 |
Diluted Earnings (loss) per Common Share | $ 0.47 | $ 0.46 | $ 0.51 | $ 0.57 | $ 0.45 | $ (0.31) | $ 0.24 | $ 0.55 | $ 2.01 | $ 1.02 | $ 1.28 |
Derivatives - Summary of Intere
Derivatives - Summary of Interest Rate Swap Transactions (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Derivatives Fair Value [Line Items] | ||
Net Exposure, Notional Amount | $ 0 | $ 0 |
Net Exposure, Fair value | 0 | 0 |
Derivative Financial Instruments, Assets [Member] | Other Assets [Member] | ||
Derivatives Fair Value [Line Items] | ||
Net Exposure, Notional Amount | $ 151,648,000 | $ 120,131,000 |
Weighted Average Rate Received/(Paid) | 5.04% | 5.19% |
Net Exposure, Fair value | $ 8,918,000 | $ 2,837,000 |
Derivative Financial Instruments, Liabilities [Member] | Accrued Expenses and Other Liabilities [Member] | ||
Derivatives Fair Value [Line Items] | ||
Net Exposure, Notional Amount | $ (151,648,000) | $ (120,131,000) |
Weighted Average Rate Received/(Paid) | 5.04% | 5.19% |
Net Exposure, Fair value | $ (8,918,000) | $ (2,837,000) |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments In Affordable Housing Projects [Abstract] | |||
Investments in qualified affordable housing projects included in other assets | $ 5,154,000 | $ 4,276,000 | |
Unfunded commitments related to the investments in qualified affordable housing projects | 5,417,000 | 4,922,000 | |
Recognized amortization expense | 570,000 | 473,000 | $ 354,000 |
Recognized tax credits and other benefits from its investments in affordable housing tax credits | 995,000 | 903,000 | 686,000 |
Impairment losses related to its investment in qualified affordable housing projects | $ 0 | $ 0 | $ 0 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Noninterest Income Segregated By Revenue Streams In-scope and Out-of-scope of Topic 606 (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Noninterest income | |||
Service charges | $ 6,395 | $ 5,208 | $ 4,777 |
ATM/Interchange fees | 4,056 | 2,794 | 2,304 |
Wealth management fees | 3,670 | 3,669 | 3,068 |
Tax refund processing fees | 2,750 | 2,750 | 2,750 |
Other | 911 | 892 | 738 |
Noninterest Income (in-scope of Topic 606) | 17,782 | 15,313 | 13,637 |
Noninterest Income (out-of-scope of Topic 606) | 4,661 | 2,818 | 2,697 |
Total noninterest income | $ 22,443 | $ 18,131 | $ 16,334 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
ASU No. 2014-09 [Member] | |
Revenue From Contract With Customer [Line Items] | |
Description of contract acquisition costs amortized | The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost. |
Leases - Summary of Balance She
Leases - Summary of Balance Sheet Information Related to Operating Leases (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 |
Assets: | ||
Operating lease | $ 3,273 | $ 2,210 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssetsMember | |
Liabilities: | ||
Operating lease | $ 3,273 | $ 2,210 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | civb:AccruedExpensesAndOtherLiabilitiesMember |
Leases - Summary of Cost Compon
Leases - Summary of Cost Components of Operating Leases (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lease cost | |
Operating lease cost | $ 429 |
Short-term lease cost | 262 |
Sublease income | (49) |
Total lease cost | $ 642 |
Leases - Summary of Maturities
Leases - Summary of Maturities of Operating and Finance Lease Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
2020 | $ 511 | |
2021 | 497 | |
2022 | 438 | |
2023 | 430 | |
2024 | 422 | |
Thereafter | 1,381 | |
Total | 3,679 | |
Less: Imputed Interest | 406 | |
Present value of lease liabilities | $ 3,273 | $ 2,210 |
Leases - Summary of Weighted Av
Leases - Summary of Weighted Average Remaining Lease Terms And Discount Rates For Operating Leases (Detail) | Dec. 31, 2019 |
Leases [Abstract] | |
Weighted-average remaining lease term - operating leases (years) | 6 years 3 months |
Weighted-average discount rate - operating leases | 2.92% |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Leases [Abstract] | |||
Operating lease rent expense | $ 642 | $ 579 | $ 558 |
Leases - Summary of Maturity of
Leases - Summary of Maturity of Operating Lease Liabilities (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Lessee Lease Description [Line Items] | |
2020 | $ 511 |
2021 | 497 |
2022 | 438 |
2023 | 430 |
2024 | 422 |
Thereafter | 1,381 |
Total | 3,679 |
Lease Commitments before Considering Renewal Options [Member] | |
Lessee Lease Description [Line Items] | |
2020 | 660 |
2021 | 367 |
2022 | 293 |
2023 | 215 |
2024 | 206 |
Thereafter | 595 |
Total | $ 2,336 |