Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 20, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | FIRST DEFIANCE FINANCIAL CORP | ||
Entity Central Index Key | 946,647 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Public Float | $ 338.8 | ||
Trading Symbol | FDEF | ||
Entity Common Stock, Shares Outstanding | 8,985,385 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and cash equivalents: | ||
Cash and amounts due from depository institutions | $ 53,003 | $ 38,769 |
Federal funds sold | 46,000 | 41,000 |
Cash and cash equivalents at beginning of year | 99,003 | 79,769 |
Securities available-for-sale, carried at fair value | 250,992 | 236,435 |
Securities held-to-maturity, carried at amortized cost (fair value $187 and $245 at December 31, 2016 and 2015 respectively) | 184 | 243 |
Marketable Securities, Total | 251,176 | 236,678 |
Securities: | ||
Loans held for sale | 9,607 | 5,523 |
Loans receivable, net of allowance of $25,884 and $25,382 at December 31, 2016 and 2015, respectively | 1,914,603 | 1,776,835 |
Mortgage servicing rights | 9,595 | 9,248 |
Accrued interest receivable | 6,760 | 6,171 |
Federal Home Loan Bank (FHLB) stock | 13,798 | 13,801 |
Bank owned life insurance | 52,817 | 51,908 |
Premises and equipment | 36,958 | 38,166 |
Real estate and other assets held for sale (REO) | 455 | 1,321 |
Goodwill | 61,798 | 61,798 |
Core deposit and other intangibles | 1,336 | 1,871 |
Deferred taxes | 2,212 | 0 |
Other assets | 17,479 | 14,587 |
Total assets | 2,477,597 | 2,297,676 |
Liabilities: | ||
Noninterest-bearing | 487,663 | 420,691 |
Interest-bearing | 1,493,965 | 1,415,446 |
Total | 1,981,628 | 1,836,137 |
Advances from the Federal Home Loan Bank | 103,943 | 59,902 |
Securities sold under agreements to repurchase | 31,816 | 57,188 |
Subordinated debentures | 36,083 | 36,083 |
Advance payments by borrowers | 2,650 | 2,674 |
Deferred taxes | 0 | 877 |
Other liabilities | 28,459 | 24,618 |
Total liabilities | 2,184,579 | 2,017,479 |
Commitments and Contingent Liabilities (Note 6) | ||
Stockholders’ equity: | ||
Preferred stock, $.01 par value per share: 37,000 shares authorized; no shares issued | 0 | 0 |
Preferred stock, $.01 par value per share: 4,963,000 shares authorized; no shares issued | 0 | 0 |
Common stock, $.01 par value per share: 25,000,000 shares authorized; 12,720,347 and 12,721,959 shares issued and 8,983,206 and 9,102,831 shares outstanding, respectively | 127 | 127 |
Additional paid-in capital | 126,390 | 125,734 |
Accumulated other comprehensive income, net of tax of $117 and $1,950, respectively | 215 | 3,622 |
Retained earnings | 240,592 | 219,737 |
Treasury stock, at cost, 3,737,141 and 3,619,128 shares respectively | (74,306) | (69,023) |
Total stockholders’ equity | 293,018 | 280,197 |
Total liabilities and stockholders’ equity | $ 2,477,597 | $ 2,297,676 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Held-to-maturity, fair value (in dollars) | $ 187 | $ 245 |
Loans receivable, allowance (in dollars) | $ 25,884 | $ 25,382 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common Stock, Shares Issued | 12,720,347 | 12,721,959 |
Common stock, shares outstanding | 8,983,206 | 9,102,831 |
Accumulated other comprehensive income, tax effect (in dollars) | $ 117 | $ 1,950 |
Treasury stock, shares | 3,737,141 | 3,619,128 |
Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 4,963,000 | 4,963,000 |
Preferred stock, shares issued | 0 | 0 |
Cumulative Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 37,000 | 37,000 |
Preferred stock, shares issued | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest Income | |||
Loans | $ 80,217 | $ 73,346 | $ 68,682 |
Investment securities: | |||
Taxable | 3,231 | 3,598 | 3,507 |
Tax-exempt | 3,016 | 3,171 | 3,068 |
Interest-bearing deposits | 367 | 169 | 349 |
FHLB stock dividends | 552 | 552 | 642 |
Total interest income | 87,383 | 80,836 | 76,248 |
Interest Expense | |||
Deposits | 6,261 | 5,341 | 5,283 |
Federal Home Loan Bank advances and other | 1,288 | 675 | 528 |
Subordinated debentures | 753 | 613 | 587 |
Securities sold under agreement to repurchase | 138 | 152 | 161 |
Total interest expense | 8,440 | 6,781 | 6,559 |
Net interest income | 78,943 | 74,055 | 69,689 |
Provision for loan losses | 283 | 136 | 1,117 |
Net interest income after provision for loan losses | 78,660 | 73,919 | 68,572 |
Noninterest Income | |||
Service fees and other charges | 10,909 | 10,752 | 10,258 |
Mortgage banking income | 7,270 | 6,713 | 5,602 |
Insurance commissions | 10,441 | 10,076 | 9,859 |
Gain on sale of non-mortgage loans | 753 | 824 | 181 |
Gain (loss) on sale or call of securities | 509 | 22 | 932 |
Trust income | 1,701 | 1,462 | 1,240 |
Income from bank owned life insurance | 909 | 895 | 1,802 |
Other noninterest income (Note 15) | 1,538 | 1,059 | 1,767 |
Total noninterest income | 34,030 | 31,803 | 31,641 |
Noninterest Expense | |||
Compensation and benefits | 40,187 | 37,769 | 35,543 |
Occupancy | 7,418 | 7,197 | 6,683 |
FDIC insurance | 1,169 | 1,324 | 1,419 |
Data processing | 6,367 | 6,083 | 5,856 |
Other noninterest expense | 15,952 | 15,516 | 17,257 |
Total noninterest expense | 71,093 | 67,889 | 66,758 |
Income before income taxes | 41,597 | 37,833 | 33,455 |
Federal income taxes | 12,754 | 11,410 | 9,163 |
Net Income | $ 28,843 | $ 26,423 | $ 24,292 |
Earnings per common share (Note 4) | |||
Basic | $ 3.21 | $ 2.87 | $ 2.55 |
Diluted | 3.19 | 2.82 | 2.44 |
Dividends declared per common share | $ 0.880 | $ 0.775 | $ 0.625 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 28,843 | $ 26,423 | $ 24,292 |
Change in securities available-for-sale (AFS): | |||
Unrealized holding gains (losses) on available-for-sale securities arising during the period | (4,933) | (985) | 6,763 |
Reclassification adjustment for (gains) losses realized in income | (509) | (22) | (932) |
Net unrealized gains (losses) | (5,442) | (1,007) | 5,831 |
Income tax effect | 1,904 | 352 | (2,040) |
Net of tax amount | (3,538) | (655) | 3,791 |
Change in unrealized gain/(loss) on postretirement benefit: | |||
Net gain (loss) on defined benefit postretirement medical plan realized during the period | 172 | 204 | (377) |
Net amortization and deferral | 30 | 47 | 35 |
Net gain (loss) activity during the period | 202 | 251 | (342) |
Income tax effect | (71) | (88) | 120 |
Net of tax amount | 131 | 163 | (222) |
Total other comprehensive income (loss) | (3,407) | (492) | 3,569 |
Comprehensive income | $ 25,436 | $ 25,931 | $ 27,861 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Common Stock Warrant [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Retained Earnings [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2013 | $ 272,147 | $ 0 | $ 127 | $ 878 | $ 136,403 | $ 545 | $ 182,290 | $ (48,096) |
Balance (in shares) at Dec. 31, 2013 | 9,719,521 | |||||||
Net income | 24,292 | 24,292 | ||||||
Other comprehensive loss (income) | 3,569 | 3,569 | ||||||
Stock based compensation expenses | 78 | 78 | ||||||
Shares issued under stock option plan | 921 | 88 | (45) | 878 | ||||
Shares issued under stock option plan (in shares) | 52,258 | |||||||
Restricted share activity under stock incentive plans | (122) | (334) | 0 | 212 | ||||
Restricted share activity under stock incentive plans (in shares) | 13,087 | |||||||
Shares issued from direct stock sales | 76 | 31 | 45 | |||||
Shares issued from direct stock sales (in shares) | 2,804 | |||||||
Shares repurchased | (15,519) | (15,519) | ||||||
Shares repurchased (in shares) | (553,136) | |||||||
Common stock dividends declared | (5,937) | (5,937) | ||||||
Balance at Dec. 31, 2014 | 279,505 | 0 | $ 127 | 878 | 136,266 | 4,114 | 200,600 | (62,480) |
Balance (in shares) at Dec. 31, 2014 | 9,234,534 | |||||||
Net income | 26,423 | 26,423 | ||||||
Other comprehensive loss (income) | (492) | (492) | ||||||
Stock based compensation expenses | 150 | 150 | ||||||
Warrant repurchase | (11,979) | (878) | (11,101) | |||||
Shares issued under stock option plan | 1,469 | 230 | (313) | 1,552 | ||||
Shares issued under stock option plan (in shares) | 74,300 | |||||||
Restricted share activity under stock incentive plans | 436 | (58) | 186 | 308 | ||||
Restricted share activity under stock incentive plans (in shares) | 18,006 | |||||||
Shares issued from direct stock sales | 64 | 31 | 33 | |||||
Shares issued from direct stock sales (in shares) | 1,799 | |||||||
Excess tax benefit under stock option plan | 216 | 216 | ||||||
Shares repurchased | (8,436) | (8,436) | ||||||
Shares repurchased (in shares) | (225,808) | |||||||
Common stock dividends declared | (7,159) | (7,159) | ||||||
Balance at Dec. 31, 2015 | 280,197 | 0 | $ 127 | 0 | 125,734 | 3,622 | 219,737 | (69,023) |
Balance (in shares) at Dec. 31, 2015 | 9,102,831 | |||||||
Net income | 28,843 | 28,843 | ||||||
Other comprehensive loss (income) | (3,407) | (3,407) | ||||||
Stock based compensation expenses | 274 | 274 | ||||||
Shares issued under stock option plan | 714 | (21) | (26) | 761 | ||||
Shares issued under stock option plan (in shares) | 36,358 | |||||||
Restricted share activity under stock incentive plans | 517 | 370 | (72) | 219 | ||||
Restricted share activity under stock incentive plans (in shares) | 10,405 | |||||||
Shares issued from direct stock sales | 63 | 33 | 30 | |||||
Shares issued from direct stock sales (in shares) | 1,480 | |||||||
Shares repurchased | (6,293) | (6,293) | ||||||
Shares repurchased (in shares) | (167,868) | |||||||
Common stock dividends declared | (7,890) | (7,890) | ||||||
Balance at Dec. 31, 2016 | $ 293,018 | $ 0 | $ 127 | $ 0 | $ 126,390 | $ 215 | $ 240,592 | $ (74,306) |
Balance (in shares) at Dec. 31, 2016 | 8,983,206 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical) - shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Stock Repurchased and Retired (in shares) | 1,612 | 14,350 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities | |||
Net income | $ 28,843 | $ 26,423 | $ 24,292 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 283 | 136 | 1,117 |
Provision for depreciation | 3,356 | 3,267 | 2,952 |
Net amortization of premium and discounts on loans, securities, deposits and debt obligations | 1,128 | 1,148 | 1,020 |
Amortization of mortgage servicing rights | 1,724 | 1,620 | 1,401 |
Net impairment (recovery) of mortgage servicing rights | (123) | (266) | (116) |
Amortization of intangibles | 535 | 699 | 1,102 |
Gain on sale of loans | (6,064) | (5,388) | (3,517) |
Loss on sale or disposals or write-downs of property, plant and equipment | 0 | 428 | 0 |
(Gain) loss on sale or write-down of REO | (300) | 150 | (73) |
(Gain) loss on sale or call of securities | (509) | (22) | (932) |
Change in deferred taxes | (615) | (35) | (179) |
Proceeds from sale of loans held for sale | 262,958 | 215,402 | 159,305 |
Origination of loans held for sale | (263,679) | (213,416) | (153,753) |
Stock based compensation expenses | 274 | 150 | 78 |
Restricted stock unit expense (credit) | 517 | 436 | (122) |
Excess tax benefit (expense) on stock compensation plans | (192) | 216 | 0 |
Income from bank owned life insurance | (909) | (895) | (1,802) |
Change in interest receivable and other assets | (4,121) | (1,356) | (5,962) |
Change in accrued interest and other liabilities | 3,878 | 1,955 | 5,254 |
Changes in: | |||
Net cash provided by operating activities | 26,984 | 30,652 | 30,065 |
Investing Activities | |||
Proceeds from maturities, calls and paydowns of held-to-maturity securities | 59 | 69 | 73 |
Proceeds from maturities, calls and paydowns of available-for-sale securities | 36,390 | 31,240 | 20,400 |
Proceeds from sale of available-for-sale securities | 14,871 | 426 | 14,913 |
Proceeds from sale of REO | 1,705 | 3,407 | 2,108 |
Proceeds from sale of office properties and equipment | 1 | 212 | 84 |
Purchases of available-for-sale securities | (71,276) | (30,483) | (70,149) |
Purchases of office properties and equipment | (2,106) | (1,843) | (4,935) |
Investment in bank owned life insurance | 0 | (4,000) | (3,406) |
Proceeds from FHLB stock redemption | 3 | 1 | 5,548 |
Proceeds from bank owned life insurance death benefit | 0 | 0 | 910 |
Net cash paid in Buckeye Insurance acquisition | 0 | (297) | 0 |
Purchase of portfolio mortgage loans | (822) | 0 | (16,594) |
Proceeds from sale of non-mortgage loans | 20,816 | 24,027 | 20,592 |
Net increase in loans receivable | (158,121) | (177,013) | (73,206) |
Net cash used in investing activities | (158,480) | (154,254) | (103,662) |
Financing Activities | |||
Net increase in deposits and advance payments by borrowers | 145,467 | 75,689 | 25,810 |
Repayment of Federal Home Loan Bank long-term advances | (959) | (8,642) | (976) |
Proceeds from Federal Home Loan Bank long-term advances | 45,000 | 47,000 | 0 |
Increase (decrease) in securities sold under repurchase agreements | (25,372) | 2,429 | 2,840 |
Cash dividends paid on common stock | (7,890) | (7,159) | (5,937) |
Net cash paid for repurchase of common stock | (6,293) | (8,436) | (15,519) |
Repayment of warrants | 0 | (11,979) | 0 |
Proceeds from exercise of stock options | 714 | 1,469 | 921 |
Proceeds from direct treasury stock sales | 63 | 64 | 76 |
Net cash provided by financing activities | 150,730 | 90,435 | 7,215 |
Increase (decrease) in cash and cash equivalents | 19,234 | (33,167) | (66,382) |
Cash and cash equivalents at beginning of period | 79,769 | 112,936 | 179,318 |
Cash and cash equivalents at end of period | 99,003 | 79,769 | 112,936 |
Supplemental cash flow information: | |||
Interest paid | 8,370 | 6,764 | 6,557 |
Income taxes paid | 12,700 | 10,000 | 8,950 |
Transfers from loans to other real estate owned and other assets held for sale | 583 | 974 | 2,357 |
Transfer from real estate owned and other assets held for sale to loans | 0 | 2,544 | 0 |
Transfer from (to) property and equipment to real estate and other assets held for sale | (44) | 267 | 0 |
Transfer from loans held for sale to loans | 0 | 0 | 1,178 |
Securities traded but not yet settled | $ 357 | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Basis of Presentation First Defiance Financial Corp. (“First Defiance” or the “Company”) is a unitary thrift holding company that conducts business through its three wholly owned subsidiaries, First Federal Bank of the Midwest (“First Federal”), First Insurance Group of the Midwest, Inc. (“First Insurance”), and First Defiance Risk Management, Inc. (“First Defiance Risk Management”). All significant intercompany transactions and balances are eliminated in consolidation. First Federal is primarily engaged in attracting deposits from the general public through its offices and using those and other available sources of funds to originate loans primarily in the counties in which its offices are located. First Federal’s traditional banking activities include originating and servicing residential, commercial and consumer loans and providing a broad range of depository, trust and wealth management services. First Insurance is an insurance agency that does business in the Defiance, Bryan, Bowling Green, Lima, Maumee and Oregon, Ohio areas, offering property and casualty, and group health and life insurance products. First Defiance Risk Management was incorporated on December 20, 2012, as a wholly owned insurance company subsidiary of the Company to insure the Company and its subsidiaries against certain risks unique to the operations of the Company and for which insurance may not be currently available or economically feasible in today’s insurance marketplace. |
Statement of Accounting Policie
Statement of Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2. Statement of Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Earnings Per Common Share Basic earnings per common share is computed by dividing net income applicable to common shares (net income less dividend requirements for preferred stock, accretion of preferred stock discount and redemption of preferred stock) by the weighted average number of shares of common stock outstanding during the period. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for the calculation. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, warrants, restricted stock awards and stock grants. See also Note 4. Comprehensive Income Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on available-for-sale securities and the net unrecognized actuarial losses and unrecognized prior service costs associated with the Company’s Defined Benefit Postretirement Medical Plan. All items included in other comprehensive income are reported net of tax. See also Notes 5, 16 and 25 and the Consolidated Statements of Comprehensive Income. Cash Flows Cash and cash equivalents include amounts due from banks and overnight investments with the Federal Home Loan Bank (“FHLB”) and the Federal Reserve. Cash and amounts due from depository institutions include required balances on hand or on deposit at the FHLB and Federal Reserve of approximately $1,809,000 and $1,896,000, respectively, at December 31, 2016 to meet regulatory reserve and clearing requirements. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions and repurchase agreements. Investment Securities M anagement determines the appropriate classification of debt securities at the time of purchase and evaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when First Defiance has the positive intent and ability to hold the securities to maturity and are reported at cost, adjusted for premiums and discounts that are recognized in interest income using the interest method over the period to maturity. Debt securities not classified as held-to-maturity and equity securities are classified as available-for-sale. Available-for-sale securities are stated at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income (loss) until realized. Realized gains and losses are included in gains (losses) on securities or other-than-temporary impairment losses on securities. Realized gains and losses on securities sold are recognized on the trade date based on the specific identification method. Interest income includes amortization of purchase premiums and discounts. Premiums and discounts are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are expected. Securities with unrealized losses are reviewed quarterly to determine if value impairment is otherthan-temporary. In performing this review management considers the length of time and extent that fair value has been less than cost, the financial condition of the issuer, the impact of changes in market interest rates on market value and whether the Company intends to sell or it would be more than likely required to sell the securities prior to their anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) other-than-temporary impairment (“OTTI”) related to credit loss, which must be recognized in the income statement and (2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. FHLB Stock First Federal is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. At December 31, 2016, the Company held $13.8 million at the FHLB of Cincinnati and $5,000 at the FHLB of Indianapolis. Loans Receivable Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of deferred loan fees and costs, purchase premiums and discounts and the allowance for loan losses. Deferred fees net of deferred incremental loan origination costs, are amortized to interest income generally over the contractual life of the loan using the interest method without anticipating prepayments. The recorded investment in loans includes accrued interest receivable and net deferred fees and costs and undisbursed loan amounts. Mortgage loans originated and intended for sale in the secondary market are classified as loans held for sale and are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains or losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. The Company may incur losses pertaining to loans sold to Fannie Mae and Freddie Mac but repurchased due to underwriting issues. Repurchase losses are recognized when the Company determines they are probable and estimable. Interest receivable is accrued on loans and credited to income as earned. The accrual of interest on loans 90 days delinquent or impaired is discontinued when, in management’s opinion, the borrower may be unable to meet payments as they become due. For these loans, interest accrual is only to the extent cash payments are received. The accrual of interest on these loans is generally resumed after a pattern of repayment has been established and the collection of principal and interest is reasonably assured. Acquired Loans The Company acquires loans individually and in groups or portfolios. At acquisition, the Company reviews each loan to determine whether there is evidence of deterioration of credit quality since origination and if it is probable that it will be unable to collect all amounts due according to the loan’s contractual terms. If both conditions exist, the Company determines whether each such loan is to be accounted for individually or whether such loans will be assembled into pools of loans based on common risk characteristics (credit score, loan type and date of origination). The Company considers expected prepayments, and estimates the amount and timing of undiscounted expected principal, interest, and other cash flows (expected at acquisition) for each loan and subsequently aggregated pool of loans. The Company determines the excess of the loan’s or pool’s scheduled contractual principal and contractual interest payments over all cash flows expected at acquisition as an amount that should not be accreted (nonaccretable difference). The remaining amountrepresenting the excess of the loan’s cash flows expected to be collected over the amount paidis accreted into interest income over the remaining life of the loan or pool (accretable yield). Over the life of the loan or pool, the Company continues to estimate cash flows expected to be collected, and evaluates whether the present value of its loans determined using the effective interest rates has decreased and, if so, recognizes a loss. Valuation allowances for all acquired loans subject to FASB ASC Topic 310 reflect only those losses incurred after acquisitionthat is, the present value of cash flows expected at acquisition that are not expected to be collected. The present value of any subsequent increase in the loan’s or pool’s actual cash flows or cash flows expected to be collected is used first to reverse any existing valuation allowance for that loan or pool. For any remaining increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the loan’s or pool’s remaining life. Allowance for Loan Losses The allowance for loan losses is maintained at a level believed adequate by management to absorb probable incurred losses in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans, actual loss experience, current economic events in specific industries and geographical areas and other pertinent factors, including general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience and consideration of economic trends, all of which may be susceptible to significant change. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Beginning June 30, 2015, the Company refined the methodology to its allowance for loan loss calculation pertaining to the general reserve component for non-impaired loans. There was no change to the calculation of the component for reserves on impaired loans. Within the general reserve, the determination of the historical loss component was modified from using a three-year average annual loss rate to a loss migration measurement. The loss migration measurement implemented June 30, 2015, utilized an average of four (4) four-year loss migration periods for each loan portfolio segment with differentiation between loan risk grades. Prior to June 30, 2015, the approach to this component quantified the historical loss by calculating a rolling twelve quarter average annual loss rate for each portfolio segment, without differentiation between loan risk grades. Beginning December 31, 2016 the historical loss calculation was changed from using an average of four (4) four-year loss migration periods to using an average of all four-year loss migration periods to the present beginning with data from the second quarter 2011. Management believes this enhancement is consistent with the rationale of the previous measurement but provides a more precise calculation of historical losses by incorporating more data points for the average loss ratio and including periods that provide a more complete coverage of the full business cycle. Management believes that capturing the risk grade changes and cumulative losses over the life cycle of a loan more accurately depicts management’s estimate of historical losses as well as being more reflective of the ongoing risks in the loan portfolio. These modifications resulted in a change in the general reserves between the loan portfolio segments but did not have a material impact on the overall allowance for loan losses. Loan losses are charged off against the allowance when in management’s estimation it is unlikely that the loan will be collected, while recoveries of amounts previously charged off are credited to the allowance. A provision for loan loss is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors in order to maintain the allowance for loan losses at the level deemed adequate by management. The determination of whether a loan is considered past due or delinquent is based on the contractual payment terms. Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. All loans are placed on nonaccrual status at 90 days past due unless the loan is adequately secured and is in process of collection. Any loan in the portfolio may be placed on nonaccrual status prior to becoming 90 days past due when collection of principal or interest is in doubt. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Impaired loans have been recognized in conformity with FASB ASC Topic 310. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loans agreement. Loans, for which terms have been modified and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. An analysis of the net present value of estimated cash flows is performed and an allowance may be established based on the outcome of that analysis, or if the loan is deemed to be collateral dependent an allowance is established based on the fair value of collateral. All modifications are reviewed by the First Federal’s Chief Credit Officer to determine whether or not the modification constitutes a troubled debt restructure. Commercial and commercial real estate loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net of the allowance allocation which is determined based on the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Large groups of smaller balance homogeneous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. The following portfolio segments have been identified: Commercial Real Estate Loans (consisting of multi-family residential and non-residential): Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans. These loans are viewed primarily as cash flow loans and the repayment of these loans is largely dependent on the successful operation of the property. Loan performance may be adversely affected by factors impacting the general economy or conditions specific to the real estate market such as geographic location and/or property type. Commercial Loans : Commercial credit is extended primarily to middle market customers. Such credits are typically comprised of working capital loans, loans for physical asset expansion, asset acquisition loans and other business loans. Loans to closely held businesses will generally be guaranteed in full or for a meaningful amount by the businesses' principal owners. Commercial loans are made based primarily on the historical and projected cash flow of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not behave as forecasted and collateral securing loans may fluctuate in value due to economic or individual performance factors. Minimum standards and underwriting guidelines have been established for all commercial loan types. Consumer Finance Loans : Consumer finance loans are generally made to borrowers for a specific consumer purchase and are made based on their ability to repay with their current debt to income as well as the underlying collateral value of the item being purchased. Credit scores are part of the decision process of whether or not credit is extended. Minimum standards and underwriting guidelines have been established for all consumer loan types. 1-4 Family Residential Real Estate Loans : 1-4 family residential real estate loans can be categorized two different ways. One part of this portfolio is owner occupied and are made based primarily on the ability of the individual borrower to support the payments as well as the payments of any other debt the borrower may have outstanding at the time the loan is made. The other part of this portfolio is non-owner occupied income producing property and is made primarily based on the cash flow stream from rental income as well as the cash flow support from the borrower’s unrelated cash flow. Both types of loans have a secondary repayment source of the underlying collateral and generally the loans are not extended at higher than an 80% LTV. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. Construction Loans : The Company defines construction loans as loans where the loan proceeds are controlled by the Company and used exclusively for the improvement of real estate in which the Company holds a mortgage. Home Equity and Improvement Loans : Home Equity and Improvement loans are made to borrowers based on their ability to repay with their current debt to income as well as the underlying collateral value of the real estate taken as security. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. Consumer finance, 1-4 family residential real estate (including construction) and home equity and improvement loans are subject to adverse employment conditions in the local economy which could increase default rate on loans. Servicing Rights Servicing rights are recognized separately when they are acquired through sales of loans. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans, driven, generally, by changes in market interest rates. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with mortgage banking income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income, which is reported on the income statement with mortgage banking income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $3.6 million, $3.5 million and $3.6 million for the years ended December 31, 2016, 2015 and 2014. Late fees and ancillary fees related to loan servicing are not material. See Note 8. Bank Owned Life Insurance The Company has purchased life insurance policies for certain key employees. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Premises and Equipment and Long Lived Assets Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization computed principally by the straight-line method over the following estimated useful lives: Buildings and improvements 20 to 50 years Furniture, fixtures and equipment 3 to 15 years Long-lived assets to be held and those to be disposed of and certain intangibles are periodically evaluated for impairment. See Note 9. Goodwill and Other Intangibles Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected November 30 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on First Defiance’s balance sheet. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from whole bank, insurance and branch acquisitions. They are initially recorded at fair value and then amortized on an accelerated basis over their estimated lives, which range from five years for non-compete agreements to 10 to 20 years for core deposit and customer relationship intangibles. See Note 10. Real Estate and Other Assets Held for Sale Real estate and other assets held for sale are comprised of properties or other assets acquired through foreclosure proceedings or acceptance of a deed in lieu of foreclosure. These assets are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Losses arising from the acquisition of such property are charged against the allowance for loan losses at the time of acquisition. These properties are carried at the lower of cost or fair value, less estimated costs to dispose. If fair value declines subsequent to foreclosure, the property is written down against expense. Costs after acquisition are expensed. Stock Compensation Plans Compensation cost is recognized for stock options and restricted share awards issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. Restricted shares awards are valued at the market value of Company stock at the date of the grant. 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. See Note 20. Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 22. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in fair values of these derivatives are included in mortgage banking income. Operating Segments Management considers the following factors in determining the need to disclose separate operating segments: (1) The nature of products and services, which are all financial in nature. (2) The type and class of customer for the products and services; in First Defiance’s case retail customers for retail bank and insurance products and commercial customers for commercial loan, deposit, life, health and property and casualty insurance needs. (3) The methods used to distribute products or provide services; such services are delivered through banking and insurance offices and through bank and insurance customer contact representatives. Retail and commercial customers are frequently targets for both banking and insurance products. (4) The nature of the regulatory environment; both banking and insurance entities are subject to various regulatory bodies and a number of specific regulations. Quantitative thresholds as stated in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting Dividend Restriction Banking regulations require maintaining certain capital levels and may limit the dividends paid by the savings bank to the holding company. See Note 17 for further details on restrictions. Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the financial statements. Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. An effective tax rate of 35% is used to determine after-tax components of other comprehensive income (loss) included in the statements of stockholders’ equity. See Note 18. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Retirement Plans Pension expense is the net of service and interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Employee 401(k) plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service. See Note 16 and 19. Reclassifications Some items in the prior year financial statements were reclassified to conform to the current presentation. Accounting Standards Updates In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2016-05 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force). The amendments in this update provide guidance on eight specific cash flow issues. The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The amendments in this update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company does not believe this standard will have a material impact on its consolidated statements of cash flows. In June 2016, the FASB issued new accounting guidance in ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326). The main objective of the update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current Generally Accepted Accounting Principles with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to form credit loss estimates. The amendments in this update become effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. The Company is currently evaluating the impact of this new accounting standard on the Company's consolidated financial statements. Management’s initial review indicates it has maintained sufficient historical loan data to support the requirement of this pronouncement and is currently evaluating the various loss methodologies to determine their correlations to the Company’s loan segments historical performance. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The objective of the update is to increase transparency |
Acquisitions_Subsequent Event
Acquisitions/Subsequent Event | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | On August 23, 2016 1.1808 51.00 80 20 43.19 63.0 1.5 356 297 314 The transaction closed on February 24, 2017. The total purchase price for Commercial Bancshares was $XX.X $XX.X X.X XX.X 19.4 |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 4. Earnings Per Common Share Basic earnings per share is calculated using the two-class method. The two-class method is an earnings allocation formula under which earnings per share is calculated from common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings distributed and undistributed, are allocated to participating securities and common shares based on their respective rights to receive dividends. Unvested share-based payment awards that contain non-forfeitable rights to dividends are considered participating securities (i.e. unvested restricted stock), not subject to performance based measures. The following table sets forth the computation of basic and diluted earnings per common share: 2016 2015 2014 (In Thousands, Except Per Share Amounts) Basic Earnings Per Share: Net income available to common shareholders $ 28,843 $ 26,423 $ 24,292 Less: Income allocated to participating securities 39 8 4 Net income allocated to common shareholders 28,804 26,415 24,288 Weighted average common shares outstanding 8,980 9,221 9,511 Less: Participating securities 11 11 6 Average common shares 8,969 9,210 9,505 Basic earnings per common share $ 3.21 $ 2.87 $ 2.55 Diluted Earnings Per Share: Net income allocated to common shareholders $ 28,804 $ 26,415 $ 24,288 Weighted average common shares outstanding 8,969 9,210 9,505 Add: Dilutive effects of stock options 66 87 111 Add: Dilutive effects of warrants - 75 353 Average shares and dilutive potential common shares 9,035 9,371 9,969 Diluted earnings per common share $ 3.19 $ 2.82 $ 2.44 Shares subject to issue upon exercise of options of 12,550 8,750 10,500 |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 2016 | |
Marketable Securities [Abstract] | |
Investment [Text Block] | 5. Investment Securities Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) 2016 Available-for-sale Obligations of U.S. government corporations and agencies $ 4,000 $ - $ (85) $ 3,915 Mortgage-backed securities - residential 82,619 390 (1,302) 81,707 REMICs 1,309 - (2) 1,307 Collateralized mortgage obligations 63,204 422 (621) 63,005 Preferred stock - 2 - 2 Corporate bonds 12,919 97 (3) 13,013 Obligations of state and political subdivisions 86,165 2,491 (613) 88,043 Total Available-for-Sale $ 250,216 $ 3,402 $ (2,626) $ 250,992 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity FHLMC certificates $ 12 $ - $ - $ 12 FNMA certificates 56 2 - 58 GNMA certificates 23 1 - 24 Obligations of states and political subdivisions 93 - - 93 Total Held-to-Maturity $ 184 $ 3 $ - $ 187 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) 2015 Available-for-sale Obligations of U.S. government corporations and agencies $ 3,000 $ 1 $ (7) $ 2,994 Mortgage-backed securities - residential 63,815 898 (59) 64,654 REMICs 1,592 28 - 1,620 Collateralized mortgage obligations 71,176 976 (353) 71,799 Preferred stock - 1 - 1 Corporate bonds 4,955 39 (17) 4,977 Obligations of state and political subdivisions 85,680 4,712 (2) 90,390 Total Available-for-Sale $ 230,218 $ 6,655 $ (438) $ 236,435 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity FHLMC certificates $ 14 $ - $ - $ 14 FNMA certificates 74 2 (1) 75 GNMA certificates 31 1 - 32 Obligations of states and political subdivisions 124 - - 124 Total Held-to-Maturity $ 243 $ 3 $ (1) $ 245 The amortized cost and fair value of the investment securities portfolio at December 31, 2016 is shown below by contractual maturity. Expected maturities will differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity tables below, mortgage-backed securities and collateralized mortgage obligations, which are not due at a single maturity date, have not been allocated over maturity groupings. Available-for-Sale Amortized Fair Cost Value (In Thousands) 2016 Available-for-sale Due in one year or less $ 577 $ 586 Due after one year through 21,850 22,136 Due after five years through 41,311 42,784 Due after ten years 39,346 39,467 MBS/CMO/REMIC 147,132 146,019 Total $ 250,216 $ 250,992 Held-to-maturity Due after one year through $ 93 $ 93 MBS 91 94 Total $ 184 $ 187 Securities pledged at year-end 2016 and 2015 had a carrying amount of $ 142.6 134.8 As of December 31, 2016, the Company’s investment portfolio consisted of 383 117 10 Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loses (In Thousands) At December 31, 2016 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 3,915 $ (85) $ - $ - $ 3,915 $ (85) Mortgage-backed securities-residential 63,736 (1,302) - - 63,736 (1,302) REMICs 1,308 (2) - - 1,308 (2) Collateralized mortgage obligations 28,882 (566) 1,227 (55) 30,110 (621) Corporate bonds - - 997 (3) 997 (3) Obligations of state and political subdivisions 19,172 (613) - - 19,172 (613) Total temporarily impaired securities $ 117,013 $ (2,568) $ 2,224 $ (58) $ 119,238 $ (2,626) At December 31, 2015 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 993 $ (7) $ - $ - $ 993 $ (7) Mortgage-backed securities-residential 12,525 (59) - - 12,525 (59) Collateralized mortgage obligations 12,374 (150) 8,158 (203) 20,532 (353) Corporate bonds 983 (17) - - 983 (17) Obligations of state and political subdivisions - - 433 (2) 433 (2) Held to maturity securities: FNMA certificates 13 (1) - - 13 (1) Total temporarily impaired securities $ 26,888 $ (234) $ 8,591 $ (205) $ 35,479 $ (439) Management evaluates securities for OTTI on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The investment portfolio is evaluated for OTTI by segregating the portfolio into two general segments. Investment securities classified as available-for-sale or held-to-maturity are generally evaluated for OTTI under FASB ASC Topic 320. Certain collateralized debt obligations (“CDOs”) are evaluated for OTTI under FASB ASC Topic 325, Investment Other When OTTI occurs under either model, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss. If an entity intends to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current period loss, the OTTI shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected compared to the book value of the security and is recognized in earnings. The amount of OTTI related to other factors shall be recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings shall become the new amortized cost basis of the investment. With the exception of corporate bonds, the securities all have fixed interest rates, and all securities have defined maturities. Their fair value is sensitive to movements in market interest rates. First Defiance has the ability and intent to hold these investments for a time necessary to recover the amortized cost without impacting its liquidity position and it is not more than likely that the Company will be required to sell the investments before anticipated recovery. In 2016, 2015 and 2014, management determined there was no OTTI. In 2013, management determined that two CDOs had OTTI because they were disallowed under the Final Interim Volcker Rule of the Dodd-Frank Act released on January 14, 2014. The Company sold these two securities on January 15, 2014. There was no OTTI recognized in accumulated other comprehensive income (“AOCI”) relating to the CDOs at December 31, 2016 and 2015. 2016 2015 2014 Beginning balance, January 1 $ - $ - $ 3,513 Additions for amounts related to credit loss for which an OTTI was not previously recognized - - - Reductions for amounts realized for securities sold/redeemed during the period - - (3,513) Ending balance, December 31 $ - $ - $ - Realized gains from the sales and calls of investment securities totaled $ 509,000 331,000 22,000 15,000 932,000 652,000 2016 2015 2014 (In Thousands) Proceeds $ 14,871 $ 426 $ 14,913 Gross realized gains 509 22 1,574 Gross realized losses - - (642) |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments Contingencies and Guarantees [Text Block] | 6. Commitments and Contingent Liabilities Loan Commitments Loan commitments are made to accommodate the financial needs of First Federal’s customers. Standby letters of credit commit the Company to make payments on behalf of customers when certain specified future events occur. They primarily are issued to facilitate customers’ trade transactions. Both arrangements have credit risk, essentially the same as that involved in extending loans to customers, and are subject to the Company’s normal credit policies. Collateral (e.g., securities, receivables, inventory and equipment) is obtained based on management’s credit assessment of the customer. 2016 2015 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 34,432 $ 106,356 $ 80,862 $ 76,253 Unused lines of credit 14,384 400,542 31,991 323,171 Standby letters of credit - 9,668 - 19,632 Total $ 48,816 $ 516,566 $ 112,853 $ 419,056 Commitments to make loans are generally made for periods of 60 days or less. The fixed rate loan commitments at December 31, 2016 had interest rates ranging from 2.63 18.00 In addition to the above commitments, at December 31, 2016, First Defiance had commitments to sell $ 22.5 |
Loans
Loans | 12 Months Ended |
Dec. 31, 2016 | |
Loans Receivable, Net [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 7. Loans Loans receivable consist of the following: December 31, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 207,550 $ 205,330 Secured by multi-family residential 196,983 167,558 Secured by commercial real estate 843,579 780,870 Construction 182,886 163,877 1,430,998 1,317,635 Other Loans: Commercial 469,055 419,349 Home equity and improvement 118,429 116,962 Consumer Finance 16,680 16,281 604,164 552,592 Total loans 2,035,162 1,870,227 Deduct: Undisbursed loan funds (93,355 ) (66,902 ) Net deferred loan origination fees and costs (1,320 ) (1,108 ) Allowance for loan loss (25,884 ) (25,382 ) Totals $ 1,914,603 $ 1,776,835 Loan segments have been identified by evaluating the portfolio based on collateral and credit risk characteristics. The following table discloses the year-to-date activity in the allowance for loan loss for the dates indicated by portfolio segment (In Thousands): Year to Date December 31, 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Charge-Offs (350 ) - (92 ) - (615 ) (268 ) (94 ) (1,419 ) Recoveries 166 - 923 - 335 150 64 1,638 Provisions (401 ) 77 (1,978 ) (67 ) 2,386 200 66 283 Ending Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Year to Date December 31, 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 Charge-Offs (283 ) (114 ) (353 ) - (68 ) (350 ) (53 ) (1,221 ) Recoveries 214 - 915 - 331 188 53 1,701 Provisions 787 (188 ) (58 ) 296 (1,517 ) 762 54 136 Ending Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Year to Date December 31, 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,847 $ 2,508 $ 12,000 $ 134 $ 5,678 $ 1,635 $ 148 $ 24,950 Charge-Offs (426 ) - (1,018 ) - (2,982 ) (392 ) (41 ) (4,859 ) Recoveries 188 7 2,670 - 435 193 65 3,558 Provisions (115 ) (62 ) (2,384 ) 87 3,378 268 (55 ) 1,117 Ending Allowance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2016: (In Thousands) 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 202 $ 4 $ 255 $ - $ 35 $ 313 $ - $ 809 Collectively evaluated for impairment 2,425 2,224 10,370 450 7,326 2,073 207 25,075 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Loans: Loans individually evaluated for impairment $ 6,898 $ 3,483 $ 13,570 $ - $ 2,154 $ 1,269 $ 59 $ 27,433 Loans collectively evaluated for impairment 200,907 193,714 832,446 89,244 468,246 117,744 16,625 1,918,926 Loans acquired with deteriorated credit quality - - - - 11 - - 11 Total ending loans balance $ 207,805 $ 197,197 $ 846,016 $ 89,244 $ 470,411 $ 119,013 $ 16,684 $ 1,946,370 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2015: (In Thousands) 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 201 $ - $ 139 $ - $ 63 $ 34 $ - $ 437 Collectively evaluated for impairment 3,011 2,151 11,633 517 5,192 2,270 171 24,945 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Loans: Loans individually evaluated for impairment $ 7,574 $ 3,313 $ 23,493 $ - $ 6,107 $ 1,491 $ 71 $ 42,049 Loans collectively evaluated for impairment 198,106 164,382 759,281 96,845 414,527 115,977 16,199 1,765,317 Loans acquired with deteriorated credit quality - - 153 - 16 - - 169 Total ending loans balance $ 205,680 $ 167,695 $ 782,927 $ 96,845 $ 420,650 $ 117,468 $ 16,270 $ 1,807,535 The following tables presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans for the years ended December 31, 2016, 2015 and 2014 (In Thousands): Twelve Months Ended December 31, Average Interest Cash Basis Residential Owner Occupied $ 3,954 $ 244 $ 237 Residential Non Owner Occupied 3,133 211 210 Total 1-4 Family Residential Real Estate 7,087 455 447 Multi-Family Residential Real Estate 3,946 124 123 CRE Owner Occupied 6,925 203 183 CRE Non Owner Occupied 5,351 411 407 Agriculture Land 2,283 128 68 Other CRE 1,632 71 70 Total Commercial Real Estate 16,191 813 728 Construction - - - Commercial Working Capital 1,606 109 90 Commercial Other 2,393 81 79 Total Commercial 3,999 190 169 Home Equity and Home Improvement 1,543 85 83 Consumer Finance 67 8 8 Total Impaired Loans $ 32,833 $ 1,675 $ 1,558 Twelve Months Ended December 31, Average Interest Cash Basis Residential Owner Occupied $ 6,985 $ 246 $ 244 Residential Non Owner Occupied 5,444 152 152 Total 1-4 Family Residential Real Estate 12,429 398 396 Multi-Family Residential Real Estate 3,799 40 40 CRE Owner Occupied 9,019 168 167 CRE Non Owner Occupied 10,125 349 348 Agriculture Land 2,980 88 56 Other CRE 3,554 81 80 Total Commercial Real Estate 25,678 686 651 Construction 50 2 2 Commercial Working Capital 2,217 58 56 Commercial Other 4,773 49 49 Total Commercial 6,990 107 115 Home Equity and Home Improvement 2,757 62 62 Consumer Finance 80 14 14 Total Impaired Loans $ 51,783 $ 1,309 $ 1,270 Twelve Months Ended December 31, Average Interest Cash Basis Residential Owner Occupied $ 6,177 $ 317 $ 313 Residential Non Owner Occupied 3,920 143 143 Total 1-4 Family Residential Real Estate 10,097 460 456 Multi-Family Residential Real Estate 903 4 4 CRE Owner Occupied 8,906 145 142 CRE Non Owner Occupied 18,164 807 809 Agriculture Land 611 14 14 Other CRE 1,694 20 22 Total Commercial Real Estate 29,375 986 987 Construction 233 12 15 Commercial Working Capital 2,790 29 29 Commercial Other 4,576 14 12 Total Commercial 7,366 43 41 Home Equity and Home Improvement 2,233 95 94 Consumer Finance 47 3 3 Total Impaired Loans $ 50,254 $ 1,603 $ 1,600 The following table presents loans individually evaluated for impairment by class of loans (In Thousands): December 31, 2016 December 31, 2015 Unpaid Recorded Allowance Unpaid Recorded Allowance With no allowance recorded: Residential Owner Occupied $ 1,912 $ 1,765 $ - $ 1,383 $ 1,360 $ - Residential Non Owner Occupied 1,691 1,683 - 2,147 2,141 - Total 1-4 Family Residential Real Estate 3,603 3,448 - 3,530 3,501 - Multi-Family Residential Real Estate 3,578 3,430 - 3,463 3,313 - CRE Owner Occupied 2,652 2,353 - 4,869 4,520 - CRE Non Owner Occupied 4,372 4,240 - 7,932 7,685 - Agriculture Land 1,695 1,722 - 3,546 3,596 - Other CRE 1,225 1,115 - 4,076 4,046 - Total Commercial Real Estate 9,944 9,430 - 20,423 19,847 - Construction - - - - - - Commercial Working Capital 838 786 - 1,644 1,648 - Commercial Other 1,179 967 - 3,573 3,607 - Total Commercial 2,017 1,753 - 5,217 5,255 - Home Equity and Home Improvement 631 585 - 817 772 - Consumer Finance 55 55 - 60 59 - Total loans with no allowance recorded $ 19,828 $ 18,701 $ - $ 33,510 $ 32,747 $ - With an allowance recorded: Residential Owner Occupied $ 2,348 $ 2,319 $ 157 $ 2,918 $ 2,837 $ 188 Residential Non Owner Occupied 1,137 1,131 45 1,231 1,236 13 Total 1-4 Family Residential Real Estate 3,485 3,450 202 4,149 4,073 201 Multi-Family Residential Real Estate 53 53 4 - - - CRE Owner Occupied 2,362 1,894 102 3,250 2,767 132 CRE Non Owner Occupied 1,618 1,479 108 385 308 2 Agriculture Land 45 45 3 68 69 2 Other CRE 1,144 722 42 926 502 3 Total Commercial Real Estate 5,169 4,140 255 4,629 3,646 139 Construction - - - - - - Commercial Working Capital 230 231 24 594 596 62 Commercial Other 167 170 11 252 256 1 Total Commercial 397 401 35 846 852 63 Home Equity and Home Improvement 688 684 313 724 719 34 Consumer Finance 4 4 - 12 12 - Total loans with an allowance recorded $ 9,796 $ 8,732 $ 809 $ 10,360 $ 9,302 $ 437 * Presented gross of charge offs The following table presents the current balance of the aggregate amounts of non-performing assets, comprised of non-performing loans and real estate owned on the dates indicated: December 31, December 31, (In Thousands) Non-accrual loans $ 14,348 $ 16,261 Loans over 90 days past due and still accruing - - Total non-performing loans 14,348 16,261 Real estate and other assets held for sale 455 1,321 Total non-performing assets $ 14,803 $ 17,582 Troubled debt restructuring, still accruing $ 10,544 $ 11,178 The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2016 by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Past Total Non Residential Owner Occupied $ 139,015 $ 56 $ 842 $ 544 $ 1,442 $ 1,931 Residential Non Owner Occupied 66,811 166 308 63 537 992 Total 1-4 Family Residential Real Estate 205,826 222 1,150 607 1,979 2,923 Multi-Family Residential Real Estate 197,197 - - - - 2,637 CRE Owner Occupied 340,233 79 - 1,396 1,475 3,098 CRE Non Owner Occupied 338,724 81 16 426 523 1,808 Agriculture Land 102,397 - - - - 755 Other Commercial Real Estate 62,415 - - 249 249 1,292 Total Commercial Real Estate 843,769 160 16 2,071 2,247 6,953 Construction 89,244 - - - - - Commercial Working Capital 202,786 - 10 38 48 435 Commercial Other 267,189 23 - 365 388 577 Total Commercial 469,975 23 10 403 436 1,012 Home Equity and Home Improvement 117,458 1,125 176 254 1,555 730 Consumer Finance 16,452 85 69 78 232 91 Total Loans $ 1,939,921 $ 1,615 $ 1,421 $ 3,413 $ 6,449 $ 14,346 The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2015 by class of loans: (In Thousands) Current 30-59 days 60-89 days 90+ days Total Total Non Residential Owner Occupied $ 138,974 $ 159 $ 673 $ 391 $ 1,223 $ 1,428 Residential Non Owner Occupied 64,577 324 356 226 906 1,179 Total 1-4 Family Residential Real Estate 203,551 483 1,029 617 2,129 2,607 Multi-Family Residential Real Estate 165,671 - - 2,024 2,024 2,417 CRE Owner Occupied 322,940 772 1,218 1,266 3,256 4,141 CRE Non Owner Occupied 304,166 - 106 538 644 1,229 Agriculture Land 98,055 57 - - 57 695 Other Commercial Real Estate 53,494 - - 315 315 1,364 Total Commercial Real Estate 778,655 829 1,324 2,119 4,272 7,429 Construction 96,845 - - - - - Commercial Working Capital 168,938 16 - 154 170 251 Commercial Other 249,070 203 46 2,223 2,472 2,833 Total Commercial 418,008 219 46 2,377 2,642 3,084 Home Equity and Home Improvement 116,599 733 92 44 869 689 Consumer Finance 16,216 27 3 24 54 36 Total Loans $ 1,795,545 $ 2,291 $ 2,494 $ 7,205 $ 11,990 $ 16,262 Troubled Debt Restructurings As of December 31, 2016 and 2015, the Company had a recorded investment in troubled debt restructurings (“TDRs”) of $16.8 million and $17.6 million, respectively. The Company allocated $809,000 and $335,000, of specific reserves to those loans at December 31, 2016 and 2015, and committed to lend additional amounts totaling up to $20,000 and $48,000 at December 31, 2016 and 2015. The Company offers various types of concessions when modifying a loan, however, forgiveness of principal is rarely granted. Each TDR is uniquely designed to meet the specific needs of the borrower. Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral or an additional guarantor is often requested when granting a concession. Commercial mortgage loans modified in a TDR often involve temporary interest-only payments, re-amortization of remaining debt in order to lower payments, and sometimes reducing the interest rate lower than the current market rate. Residential mortgage loans modified in a TDR are comprised of loans where monthly payments are lowered, either through interest rate reductions or principal only payments for a period of time, to accommodate the borrowers’ financial needs, interest is capitalized into principal, or the term and amortization are extended. Home equity modifications are made infrequently and usually involve providing an interest rate that is lower than the borrower would be able to obtain due to credit issues. All retail loans where the borrower is in bankruptcy are classified as TDRs regardless of whether or not a concession is made. Of the loans modified in a TDR, $6.2 million are on non-accrual status and partial charge-offs have in some cases been taken against the outstanding balance. Loans modified as a TDR may have the financial effect of increasing the allowance associated with the loan. If the loan is determined to be collateral dependent, the estimated fair value of the collateral, less any selling costs is used to determine if there is a need for a specific allowance or charge-off. If the loan is determined to be cash flow dependent, the allowance is measured based on the present value of expected future cash flows discounted at the loan’s pre-modification effective interest rate. The following table presents loans by class modified as TDRs that occurred during the years indicated (Dollars in Thousands): Loans Modified as a TDR for the Loans Modified as a TDR for the Loans Modified as a TDR for the TDRs Number of Recorded Number of Recorded Number of Recorded Residential Owner Occupied 17 $ 778 6 $ 454 18 $ 1,726 Residential Non Owner Occupied 5 494 4 59 3 517 Multi Family 2 1,885 - - - - CRE Owner Occupied - - 2 645 2 27 CRE Non Owner Occupied 5 974 2 244 3 403 Agriculture Land 1 45 3 1,443 - - Other CRE 1 348 - - - - Commercial Working Capital 1 226 2 62 4 1,353 Commercial Other 1 587 2 70 16 2,020 Home Equity and Home Improvement 9 281 13 324 17 471 Consumer Finance 2 14 9 62 4 15 Total 44 $ 5,632 43 $ 3,363 67 $ 6,532 The loans described above increased the allowance for loan losses (“ALLL”) by $413,000 for the year ended December 31, 2016, decreased the ALLL by $13,000 for the year ended December 31, 2015, and increased the ALLL by $234,000 for the year ended December 31, 2014. Of the 2016 modifications, fifteen were made TDRs due to the fact that the borrower filed bankruptcy, one was made a TDR due to an interest only period, six were made a TDR due to extending the maturity, five were made TDRs due to advancing or renewing funds to a watchlist credit, two were made TDRs to term out lines of credit, and fifteen were made TDRs to refinance current debt for payment relief. The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the indicated: Twelve Months Ended Twelve Months Ended Twelve Months Ended TDRs Number of Recorded Number of Recorded Number of Recorded Residential Owner Occupied - $ - - $ - 1 $ 80 Residential Non Owner Occupied - - - - 1 178 CRE Owner Occupied - - - - - - CRE Non Owner Occupied 1 205 - - - - Agriculture Land - - - - - - Other CRE - - - - - - Commercial Working Capital - - 1 120 2 868 Commercial Other - - 5 1,791 5 865 Home Equity and Home Improvement - - 1 22 - - Consumer - - - - - - Total 1 $ 205 7 $ 1,933 9 $ 1,991 The TDRs that subsequently defaulted described above had no effect on the ALLL for the year ended December 31, 2016 and 2015. They decreased the ALLL by $14,000 after $176,000 in charge-offs for the year ended December 31, 2014. A default for purposes of this disclosure is a TDR loan in which the borrower is 90 days contractually past due under the modified terms. The terms of certain other loans were modified during the periods ending December 31, 2016 and 2015 that did not meet the definition of a TDR. The modification of these loans involved a modification of the terms of a loan to borrowers who were not experiencing financial difficulties. A total of 373 loans were modified under this definition during the twelve month period ended December 31, 2016 and a total of 187 loans were modified under this definition during the twelve month period ended December 31, 2015. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed regarding the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. Credit Quality Indicators Loans are categorized into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are analyzed individually by classifying the loans as to credit risk. This analysis includes all non-homogeneous loans, such as commercial and commercial real estate loans and certain homogenous mortgage, home equity and consumer loans. This analysis is performed on a quarterly basis. First Defiance uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Not Graded. Loans classified as not graded are generally smaller balance residential real estate, home equity and consumer installment loans which are originated primarily by using an automated underwriting system. These loans are monitored based on their delinquency status and are evaluated individually only if they are seriously delinquent. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Substandard Doubtful Not Total Residential Owner Occupied $ 5,980 $ 402 $ 1,824 $ - $ 132,250 $ 140,456 Residential Non Owner Occupied 58,041 1,394 3,480 - 4,434 67,349 Total 1-4 Family Real Estate 64,021 1,796 5,304 - 136,684 207,805 Multi-Family Residential Real Estate 192,369 862 3,852 - 114 197,197 CRE Owner Occupied 316,335 20,559 4,430 - 384 341,708 CRE Non Owner Occupied 332,196 1,617 5,435 - - 339,248 Agriculture Land 98,039 2,355 2,002 - - 102,396 Other CRE 59,561 60 2,297 - 746 62,664 Total Commercial Real Estate 806,131 24,591 14,164 - 1,130 846,016 Construction 67,751 706 - - 20,787 89,244 Commercial Working Capital 193,043 8,301 1,490 - - 202,834 Commercial Other 262,076 3,749 1,752 - - 267,577 Total Commercial 455,119 12,050 3,242 - - 470,411 Home Equity and Home Improvement - - 696 - 118,317 119,013 Consumer Finance - - 90 - 16,594 16,684 Total Loans $ 1,585,391 $ 40,005 $ 27,348 $ - $ 293,626 $ 1,946,370 As of December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Substandard Doubtful Not Total Residential Owner Occupied $ 5,828 $ 123 $ 2,427 $ - $ 131,820 $ 140,198 Residential Non Owner Occupied 55,169 1,420 4,439 - 4,454 65,482 Total 1-4 Family Real Estate 60,997 1,543 6,866 - 136,274 205,680 Multi-Family Residential Real Estate 163,405 498 3,675 - 117 167,695 CRE Owner Occupied 297,856 17,896 9,730 - 714 326,196 CRE Non Owner Occupied 293,057 2,143 9,595 - 15 304,810 Agriculture Land 92,262 1,947 3,903 - - 98,112 Other CRE 47,109 469 5,739 - 492 53,809 Total Commercial Real Estate 730,284 22,455 28,967 - 1,221 782,927 Construction 76,152 2,159 - - 18,534 96,845 Commercial Working Capital 163,071 2,497 3,540 - - 169,108 Commercial Other 243,308 2,706 5,528 - - 251,542 Total Commercial 406,379 5,203 9,068 - - 420,650 Home Equity and Home Improvement - - 689 - 116,779 117,468 Consumer Finance - - 15 - 16,255 16,270 Total Loans $ 1,437,217 $ 31,858 $ 49,280 $ - $ 289,180 $ 1,807,535 Certain loans acquired had evidence that the credit quality of the loan had deteriorated since its origination and in management’s assessment at the acquisition date it was probable that First Defiance would be unable to collect all contractually required payments due. In accordance with FASB ASC Topic 310 Subtopic 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Contractual Impairment Recorded (In Thousands) Balance at January 1, 2014 $ 503 $ 273 $ 230 Principal payments received (90 ) - (90 ) Loans charged off - - - Additional provision for loan loss - - - Loan accretion recorded - (46 ) 46 Balance at December 31, 2014 413 227 186 Principal payments received (51 ) - (51 ) Loans charged off - - - Additional provision for loan loss - - - Loan accretion recorded - (34 ) 34 Balance at December 31, 2015 362 193 169 Principal payments received (261 ) - (261 ) Loans charged off (35 ) (35 ) - Additional provision for loan loss - - - Loan accretion recorded - (103 ) 103 Balance at December 31, 2016 $ 66 $ 55 $ 11 Loans to executive officers, directors, and their affiliates are as follows: Years Ended December 31 2016 2015 (In Thousands) Beginning balance $ 7,349 $ 5,888 New loans 4,783 5,822 Effect of changes in composition of related parties 12,320 (54 ) Repayments (8,253 ) (4,307 ) Ending Balance $ 16,199 $ 7,349 |
Mortgage Banking
Mortgage Banking | 12 Months Ended |
Dec. 31, 2016 | |
Mortgage Banking [Abstract] | |
Mortgage Banking [Text Block] | 8. Mortgage Banking Years Ended December 31 2016 2015 2014 (In Thousands) Gain from sale of mortgage loans $ 5,311 $ 4,564 $ 3,335 Mortgage loan servicing revenue (expense): Mortgage loan servicing revenue 3,560 3,503 3,552 Amortization of mortgage servicing rights (1,724) (1,620) (1,401) Mortgage servicing rights valuation adjustments 123 266 116 1,959 2,149 2,267 Net mortgage banking income $ 7,270 $ 6,713 $ 5,602 The unpaid principal balance of residential mortgage loans serviced for third parties was $ 1.37 1.34 Years Ended December 31 2016 2015 2014 (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 9,893 $ 9,923 $ 10,133 Loans sold, servicing retained 1,948 1,590 1,191 Amortization (1,724) (1,620) (1,401) Carrying value before valuation allowance at end of period 10,117 9,893 9,923 Valuation allowance: Balance at beginning of period (645) (911) (1,027) Impairment recovery (charges) 123 266 116 Balance at end of period (522) (645) (911) Net carrying value of MSRs at end of period $ 9,595 $ 9,248 $ 9,012 Fair value of MSRs at end of period $ 9,770 $ 9,802 $ 9,304 Amortization of mortgage servicing rights is computed based on payments and payoffs of the related mortgage loans serviced. The Company had no actual losses from secondary market buy-backs in 2016. Based on management’s estimate of potential losses from secondary market buyback activity, a liability of $ 79,000 214,000 (135,000) (95,000) 298,000 December 31 2016 2015 Number of Principal Number of Principal Investor Loans Outstanding Loans Outstanding (In Thousands) Fannie Mae 5,004 $ 470,692 5,104 $ 484,155 Freddie Mac 9,229 889,280 9,015 845,564 Federal Home Loan Bank 101 11,081 118 12,605 Other 16 965 21 1,398 Totals 14,350 $ 1,372,018 14,258 $ 1,343,722 Custodial escrow balances maintained in connection with serviced loans were $ 12.6 11.6 Significant assumptions at December 31, 2016 used in determining the value of MSRs include a weighted average prepayment speed assumption (“PSA”) of 152 and a weighted average discount rate of 12.01 10.02 A sensitivity analysis of the current fair value to immediate 10 20 10% Adverse 20% Adverse Change Change (In Thousands) Assumption: Decline in fair value from increase in prepayment rate $ 243 $ 475 Decline in fair value from increase in discount rate 311 612 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Premises and Equipment December 31 2016 2015 (In Thousands) Cost: Land $ 7,534 $ 7,494 Land improvements 1,310 1,310 Buildings 41,895 41,556 Leasehold improvements 971 971 Furniture, fixtures and equipment 31,253 29,622 Construction in process 787 656 83,750 81,609 Less allowances for depreciation and amortization (46,792) (43,443) $ 36,958 $ 38,166 Depreciation expense was $ 3.4 3.3 3.0 Lease Agreements The Company has entered into lease agreements covering six First Insurance Group offices, two banking center locations, two land leases for which the Company owns the banking centers, one land lease which is primarily used for parking, one land lease that is to be terminated in the first quarter of 2017 and numerous stand-alone Automated Teller Machine sites with varying terms and options to renew. 2017 $ 584 2018 400 2019 337 2020 265 2021 222 Thereafter 2,654 Total $ 4,462 Rental expenses under operating leases amounted to $ 571,000 601,000 653,000 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 10. Goodwill and Intangible Assets Goodwill December 31 2016 2015 (In Thousands) Beginning balance $ 61,798 $ 61,525 Goodwill acquired or adjusted during the year - 273 Ending balance $ 61,798 $ 61,798 Acquired Intangible Assets Gross Carrying Accumulated Net Amount Amortization Value (In Thousands) Balance as of January 1, 2014 $ 14,302 $ (10,805) $ 3,497 Amortization of intangible assets - (1,102) (1,102) Balance as of December 31, 2014 14,302 (11,907) 2,395 Intangible assets acquired 175 - 175 Amortization of intangible assets - (699) (699) Balance as of December 31, 2015 14,477 (12,606) 1,871 Amortization of intangible assets - (535) (535) Balance as of December 31, 2016 $ 14,477 $ (13,141) $ 1,336 2017 $ 404 2018 332 2019 225 2020 149 2021 87 Thereafter 139 Total $ 1,336 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 11. Deposits Years Ended December 31 2016 2015 2014 (In Thousands) Checking and money market accounts $ 1,463 $ 1,186 $ 1,236 Savings accounts 88 89 90 Certificates of deposit 4,710 4,066 3,957 Totals $ 6,261 $ 5,341 $ 5,283 Accrued interest payable on deposit accounts amounted to $ 42,000 43,000 19,000 23,000 25,000 18,000 December 31 2016 2015 (In Thousands) Non-interest bearing checking accounts $ 487,663 $ 420,691 Interest bearing checking and money market accounts 816,665 767,201 Savings deposits 243,369 219,655 Retail certificates of deposit less than $250,000 400,080 403,902 Retail certificates of deposit greater than $250,000 33,851 24,688 $ 1,981,628 $ 1,836,137 2017 $ 156,767 2018 117,627 2019 78,750 2020 35,298 2021 45,489 Thereafter - Total $ 433,931 |
Advances from Federal Home Loan
Advances from Federal Home Loan Bank | 12 Months Ended |
Dec. 31, 2016 | |
Advances From Federal Home Loan Banks [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | 12. Advances from Federal Home Loan Bank First Federal has the ability to borrow funds from the FHLB. First Federal pledges its single-family residential mortgage loan portfolio, certain investment securities; certain first mortgage home equity loans, certain commercial real estate loans, and certain agriculture real estate loans as security for these advances. Advances secured by investment securities must have collateral of at least 105 125 300 50 50 843.8 692.2 448.9 Weighted Average Advance Interest Principal Terms Amount Range of Maturities Rate (In Thousands) December 31, 2016 Putable advances $ 5,000 March 2018 2.35 % Single maturity fixed rate advances 92,000 November 2017 to March 2022 1.34 % Amortizable mortgage advances 6,943 September 2018 1.78 % $ 103,943 December 31, 2015 Putable advances $ 5,000 March 2018 2.35 % Single maturity fixed rate advances 47,000 December 2017 to March 2022 1.51 % Amortizable mortgage advances 7,902 December 2017 to October 2021 1.78 % $ 59,902 Putable advances are callable at the option of the FHLB on a quarterly basis. 2017 $ 32,306 2018 24,853 2019 15,637 2020 21,283 2021 10,143 Thereafter 3,162 Total minimum payments 107,384 Less amounts representing interest (3,441) Totals $ 103,943 First Defiance also utilizes short-term advances from the FHLB to meet cash flow needs and for short-term investment purposes. First Defiance borrows short-term advances under a variety of programs at FHLB. At December 31, 2016 and 2015, there were no amounts outstanding under First Defiance’s Cash Management Advance line of credit. The total available under this line is $ 15.0 100.0 |
Junior Subordinated Debentures
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust | 12 Months Ended |
Dec. 31, 2016 | |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust [Abstract] | |
Junior Subordinated Debentures Owed To Unconsolidated Subsidiary Trust Disclosure [Text Block] | 13. Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust In March 2007, the Company sponsored an affiliated trust, First Defiance Statutory Trust II (“Trust Affiliate II”) that issued $ 15 15.5 2.46 2.01 The Trust Preferred Securities issued by Trust Affiliate II are subject to mandatory redemption, in whole or part, upon repayment of the Subordinated Debentures. The Company has entered into an agreement that fully and unconditionally guarantees the Trust Preferred Securities subject to the terms of the guarantee. The Trust Preferred Securities and Subordinated Debentures mature on June 15, 2037, but can be redeemed at the Company’s option at any time now. The Company also sponsors an affiliated trust, First Defiance Statutory Trust I (“Trust Affiliate I”), that issued $ 20 20.6 2.34 1.89 The Trust Preferred Securities issued by Trust Affiliate I are subject to mandatory redemption, in whole or in part, upon repayment of the Subordinated Debentures. The Company has entered into an agreement that fully and unconditionally guarantees the Trust Preferred Securities subject to the terms of the guarantee. The Trust Preferred Securities and Subordinated Debentures mature on December 15, 2035, but can be redeemed at the Company’s option at any time now. The subordinated debentures may be included in Tier 1 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. A summary of all junior subordinated debentures issued by the Company to affiliates follows. These amounts represent the par value of the obligations owed to these affiliates, including the Company’s equity interest in the trusts. December 31 2016 2015 (In Thousands) First Defiance Statutory Trust I due December 2035 $ 20,619 $ 20,619 First Defiance Statutory Trust II due June 2037 15,464 15,464 Total junior subordinated debentures owed to unconsolidated subsidiary Trusts $ 36,083 $ 36,083 Interest on both issues of Trust Preferred Securities may be deferred for a period of up to five years at the option of the issuer. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings [Abstract] | |
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings Disclosure [Text Block] | 14. Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings Years Ended December 31 2016 2015 (In Thousands, Except Percentages) Securities sold under agreement to repurchase Amounts outstanding at year-end $ 31,816 $ 57,188 Year-end interest rate 0.22 % 0.27 % Average daily balance during year 52,821 54,632 Maximum month-end balance during the year 57,984 60,272 Average interest rate during the year 0.26 % 0.28 % We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. We monitor levels on a continuous basis. We may be required 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 agent. Greater Overnight and Up to 30 than 90 Continuous Days 30-90 Days Days Total At December 31, 2016 (In Thousands) Repurchase agreements: Mortgage-backed securities residential $ 21,222 $ - $ - $ - $ 21,222 Collateralized mortgage obligations 10,594 - - - 10,594 Total borrowings $ 31,816 $ - $ - $ - $ 31,816 Gross amount of recognized liabilities for repurchase agreements $ 31,816 Greater Overnight and Up to 30 than 90 Continuous Days 30-90 Days Days Total At December 31, 2015 (In Thousands) Repurchase agreements: Mortgage-backed securities residential $ 23,998 $ - $ - $ - $ 23,998 Collateralized mortgage obligations 33,190 - - - 33,190 Total borrowings $ 57,188 $ - $ - $ - $ 57,188 Gross amount of recognized liabilities for repurchase agreements $ 57,188 On December 29, 2016, First Defiance entered into a loan agreement with First Tennessee Bank for a $ 20 As of December 31, 2016 and 2015, First Federal had the following undrawn lines of credit facilities available for short-term borrowing purposes: A $ 11.2 0.75 A $ 20.0 |
Other Noninterest Expense
Other Noninterest Expense | 12 Months Ended |
Dec. 31, 2016 | |
Other Expense, Nonoperating [Abstract] | |
Other Expense Disclosure Non Operating [Text Block] | 15. Other Noninterest Expense Years Ended December 31 2016 2015 2014 (In Thousands) Legal and other professional fees $ 2,902 $ 3,359 $ 3,622 Marketing 1,835 1,752 1,820 State financial institutions tax 1,781 1,783 1,762 REO expenses and write-downs 244 1,064 743 Printing and office supplies 512 457 466 Amortization of intangibles 535 699 1,102 Postage 456 459 594 Check charge-offs and fraud losses 266 207 142 Credit and collection expense 303 334 395 Other 7,118 (1) 5,402 6,611 (2) Total other noninterest expense $ 15,952 $ 15,516 $ 17,257 1) Includes $ 443,000 300,000 2) Includes $ 786,000 |
Postretirement Benefits
Postretirement Benefits | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 16. Postretirement Benefits First Defiance sponsors a defined benefit postretirement plan that is intended to supplement Medicare coverage for certain retirees who meet minimum age requirements. First Federal employees who retired prior to April 1, 1997 and who completed 20 years of service after age 40 receive full medical coverage at no cost. 10 First Federal employees who were born after December 31, 1950 are not eligible for the medical coverage described above at retirement. 10,000 December 31 2016 2015 2014 (In Thousands) Unrecognized prior service cost $ 52 $ 53 $ 65 Unrecognized actuarial losses 392 593 832 Total recognized in Accumulated Other Comprehensive Income 444 646 897 Income tax effect (155) (226) (314) Net amount recognized in Accumulated Other Comprehensive Income $ 289 $ 420 $ 583 The prior service cost and actuarial loss included in other comprehensive income and expected to be recognized in net postretirement benefit cost during the fiscal year-ended December 31, 2017 is $ 12,000 8,000 10,000 7,000 Reconciliation of Funded Status and Accumulated Benefit Obligation The plan is not currently funded. December 31 2016 2015 (In Thousands) Change in benefit obligation: Benefit obligation at beginning of year $ 3,115 $ 3,263 Service cost 53 65 Interest cost 128 130 Participant contribution 29 27 Plan amendments for acquisitions 12 - Actuarial (gains) / losses (184) (204) Benefits paid (168) (166) Benefit obligation at end of year 2,985 3,115 Change in fair value of plan assets: Balance at beginning of year - - Employer contribution 139 139 Participant contribution 29 27 Benefits paid (168) (166) Balance at end of year - - Funded status at end of year $ (2,985) $ (3,115) Years Ended December 31 2016 2015 2014 (In Thousands) Service cost-benefits attributable to service during the period $ 53 $ 65 $ 63 Interest cost on accumulated postretirement benefit obligation 128 130 136 Net amortization and deferral 30 47 35 Net periodic postretirement benefit cost 211 242 234 Net (gain) / loss during the year (184) (204) 377 Plan amendment for acquisition 12 - - Amortization of prior service cost and actuarial losses (30) (47) (35) Total recognized in comprehensive income (202) (251) 342 Total recognized in net periodic postretirement benefit cost and other comprehensive income $ 9 $ (9) $ 576 2016 2015 2014 Weighted average discount rates: Used to determine benefit obligations at December 31 4.00 % 4.25 % 4.25 % Used to determine net periodic postretirement benefit cost for years ended December 31 4.25 % 4.25 % 4.75 % Assumed health care cost trend rates at December 31: Health care cost trend rate assumed for next year 7.50 % 6.50 % 7.00 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % 5.00 % 5.00 % Year that rate reaches ultimate trend rate 2022 2019 2019 Expected to be Paid (In Thousands) 2017 $ 160 2018 173 2019 182 2020 197 2021 180 2022 through 2026 1,035 Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. One-Percentage-Point One-Percentage-Point Increase Decrease Year Ended December 31 Year Ended December 31 2016 2015 2016 2015 (In Thousands) Effect on total of service and interest cost $ 27 $ 27 $ (22) $ (22) Effect on postretirement benefit obligation 369 376 (314) (320) The Company expects to contribute $ 160,000 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Regulatory Capital Requirements [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 17. Regulatory Matters First Federal is subject to minimum capital adequacy guidelines. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators, which could have a material impact on First Federal’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, First Federal must maintain capital amounts in excess of specified minimum ratios based on quantitative measures of First Federal’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. In July 2013, Federal Reserve and the FDIC approved the final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (commonly known as Basel III). Under the final rules, which began for the Company and the Bank on January 1, 2015 and are subject to a phase-in period through January 1, 2019, minimum requirements will increase for both quantity and quality of capital held by the Company and the Bank. The rules include a new minimum common equity Tier 1 capital to risk-weighted assets ratio (“CET1”) of 4.5 2.5 7.0 4.0 6.0 8.5 10.5 4.0 December 31, 2016 Actual Minimum Required for Minimum Required for Well Amount Ratio Amount Ratio (1) Amount Ratio CET1 Capital (to Risk-Weighted Assets) (2) Consolidated $ 234,809 10.45 % $ 101,108 4.5 % N/A N/A First Federal $ 242,928 10.81 % $ 101,116 4.5 % $ 146,057 6.5 % Tier 1 Capital (1) Consolidated $ 269,809 11.24 % $ 95,975 4.0 % N/A N/A First Federal $ 242,928 10.14 % $ 95,791 4.0 % $ 119,739 5.0 % Tier 1 Capital (to Risk Weighted Assets) (1) Consolidated $ 269,809 12.01 % $ 134,811 6.0 % N/A N/A First Federal $ 242,928 10.81 % $ 134,822 6.0 % $ 179,763 8.0 % Total Capital (to Risk Weighted Assets) (1) Consolidated $ 295,693 13.16 % $ 179,748 8.0 % N/A N/A First Federal $ 268,812 11.96 % $ 179,763 8.0 % $ 224,703 10.0 % (1) Excludes capital conservation buffer of 0.625 (2) Core capital is computed as a percentage of adjusted total assets of $ 2.40 2.39 2.25 December 31, 2015 Actual Minimum Required for Minimum Required for Well Amount Ratio Amount Ratio Amount Ratio CET1 Capital (to Risk-Weighted Assets) (1) Consolidated $ 218,297 10.71 % $ 91,710 4.5 % N/A N/A First Federal $ 236,625 11.61 % $ 91,678 4.5 % $ 132,424 6.5 % Tier 1 Capital (1) Consolidated $ 253,297 11.46 % $ 88,424 4.0 % N/A N/A First Federal $ 236,625 10.72 % $ 88,267 4.0 % $ 110,334 5.0 % Tier 1 Capital (to Risk Weighted Assets) (1) Consolidated $ 253,297 12.43 % $ 122,280 6.0 % N/A N/A First Federal $ 236,625 11.61 % $ 122,237 6.0 % $ 162,983 8.0 % Total Capital (to Risk Weighted Assets) (1) Consolidated $ 278,679 13.67 % $ 163,040 8.0 % N/A N/A First Federal $ 262,007 12.86 % $ 162,983 8.0 % $ 203,729 10.0 % (1) Core capital is computed as a percentage of adjusted total assets of $ 2.21 2.04 First Federal is subject to the regulatory capital requirements administered by the OCC and FDIC. Regulatory authorities can initiate certain mandatory actions if First Federal fails to meet the minimum capital requirements, which could have a direct material effect on the Corporation’s financial statements. Management believes, as of December 31, 2016, that First Federal meets all capital adequacy requirements to which they are subject. First Defiance is a unitary thrift holding company and is regulated by the Federal Reserve. First Defiance did not have prompt corrective action capital requirements as of December 31, 2016. Dividend Restrictions - Dividends paid by First Federal to First Defiance are subject to various regulatory restrictions. First Federal paid $ 22.0 29.0 1.2 900,000 1.0 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 18. Income Taxes Years Ended December 31 2016 2015 2014 (In Thousands) Current: Federal $ 13,125 $ 11,299 $ 9,198 State and local 244 146 144 Deferred (615) (35) (179) $ 12,754 $ 11,410 $ 9,163 Years Ended December 31 2016 2015 2014 (In Thousands) Tax expense at statutory rate (35%) $ 14,559 $ 13,240 $ 11,709 Increases (decreases) in taxes from: State income tax net of federal tax benefit 159 95 94 Tax exempt interest income, net of TEFRA (1,168) (1,219) (1,152) Bank owned life insurance (341) (255) (816) Captive insurance (414) (415) (390) Other (41) (36) (282) Totals $ 12,754 $ 11,410 $ 9,163 Deferred federal income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. December 31 2016 2015 (In Thousands) Deferred federal income tax assets: Allowance for loan losses $ 9,059 $ 8,884 Postretirement benefit costs 1,044 1,316 Deferred compensation 1,847 1,621 Impaired loans 1,087 261 Accrued vacation 454 644 Allowance for real estate held for sale losses 226 269 Deferred loan origination fees and costs 462 388 Accrued bonus 626 675 Other 1,554 794 Total deferred federal income tax assets 16,359 14,852 Deferred federal income tax liabilities: FHLB stock dividends 2,279 2,279 Goodwill 5,967 5,527 Mortgage servicing rights 3,358 3,237 Fixed assets 1,217 1,268 Other intangible assets 301 422 Loan mark to market 59 165 Net unrealized gains on available-for-sale securities 272 2,176 Prepaid expenses 694 655 Total deferred federal income tax liabilities 14,147 15,729 Net deferred federal income tax asset/ (liability) $ 2,212 $ (877) The realization of the Company’s deferred tax assets is dependent upon the Company’s ability to generate taxable income in future periods and the reversal of deferred tax liabilities during the same period and the ability to carryback any losses. The Company has evaluated the available evidence supporting the realization of its deferred tax assets and determined it is more likely than not that the assets will be realized and thus no valuation allowance was required at December 31, 2016. Retained earnings at December 31, 2016 include approximately $ 11.0 3.85 Balance at January 1, 2014 $ - Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years - Reductions due to the statute of limitations - Settlements - Balance at December 31, 2014 $ - Balance at January 1, 2015 $ - Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years - Reductions due to the statute of limitations - Settlements - Balance at December 31, 2015 $ - Balance at January 1, 2016 $ - Additions based on tax positions related to the current year - Additions for tax positions of prior years 398 Reductions for tax positions of prior years - Reductions due to the statute of limitations - Settlements - Balance at December 31, 2016 $ 398 The total amount of interest and penalties recorded in the income statement was $ 40,000 zero 40,000 zero The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in the state of Indiana. The Company is no longer subject to examination by taxing authorities for years before 2012. The Company currently operates primarily in the states of Ohio and Michigan, which tax financial institutions based on their equity rather than their income. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | 19. Employee Benefit Plans 401(k) Plan Employees of First Defiance are eligible to participate in the First Defiance Financial Corp. 401(k) Employee Savings Plan (the “First Defiance 401(k)”) if they meet certain age and service requirements. Under the First Defiance 401(k), First Defiance matches 100% of the participants’ contributions up to 3% of compensation and then 50% of the participants’ contributions for the next 2% of compensation. The First Defiance 401(k) also provides for a discretionary First Defiance contribution in addition to the First Defiance matching contribution. First Defiance matching contributions totaled $979,000, $892,000 and $919,000 for the years ended December 31, 2016, 2015 and 2014, respectively. There were no discretionary contributions in any of those years. Group Life Plan On June 30, 2010, First Federal adopted the First Federal Bank of the Midwest Executive Group Life Plan Post Separation (the “Group Life Plan”) in which various employees, including the Company’s named executive officers, may participate. Under the terms of the Group Life Plan, First Federal will purchase and own life insurance policies covering the lives of employees selected by the board of directors of First Federal as participants. There was $71,000, $78,000 and $167,000 of expense recorded for the years ended December 31, 2016, 2015 and 2014, respectively, with a liability of $1.04 million, $970,000 and $892,000 for future benefits recorded at December 31, 2016, 2015 and 2014, respectively. The discount rate was reduced to 4.00% as of December 31, 2016, resulting in an increase to the Company’s liability. |
Stock Compensation Plans
Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 20. Stock Compensation Plans First Defiance has established equity based compensation plans for its directors and employees. On March 15, 2010, the Board adopted, and the shareholders approved at the 2010 Annual Shareholders Meeting, the First Defiance Financial Corp. 2010 Equity Incentive Plan (the “2010 Equity Plan”). The 2010 Equity Plan replaced all plans existing at the time of its approval. All awards outstanding under prior plans remain in effect in accordance with their respective terms. Any new awards are made under the 2010 Equity Plan. The 2010 Equity Plan allows for issuance of up to 350,000 As of December 31, 2016, 54,750 20 40 20 All options expire ten years from the date of grant. Vested options of retirees expire on the earlier of the scheduled expiration date or three months after the retirement date. In each of the years 2014-2016, the Company approved a Short-Term (“STIP”) Equity Incentive Plan and a Long-Term (“LTIP”) Equity Incentive Plan for selected members of management. Under the 2014 and 2015 STIPs, the participants could earn up to 30 45 10 45 The final amount of benefits under the STIPs is determined as of December 31 of the same year and paid out in cash in the first quarter of the following year. Under each LTIP, the participants may earn up to 20 45 30,538 24,757 24,526 The amount of benefit under each LTIP will be determined individually at the end of the 36 month performance period ending December 31. The benefits earned under each LTIP will be paid out in equity in the first quarter following the end of the performance period. The participants are required to be employed on the day of payout in order to receive such payment. In 2016, the Company also granted 3,894 1,872 1,000 1,022 The fair value of each option award is estimated on the date of grant using the Black-Scholes model. Expected volatilities are based on historical volatilities of the Company’s common shares. The Company uses historical data to estimate option exercise and post-vesting termination behavior. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. Twelve Months Ended December 31, December 31, 2016 2015 Expected average risk-free rate 2.05% 2.04% Expected average life 8.96 years 10.00 years Expected volatility 41.00% 42.00% Expected dividend yield 2.33% 2.10% Stock options: Weighted Average Aggregate Weighted Remaining Intrinsic Options Average Contractual Value Outstanding Exercise Price Term (in years) (in 000’s) Options outstanding, January 1, 2016 86,220 $ 20.27 Forfeited or cancelled - - Exercised (37,970) 20.47 Granted 6,500 37.78 Options outstanding, December 31, 2016 54,750 $ 22.21 3.51 $ 1,562 Vested or expected to vest at December 31, 2016 54,750 $ 22.21 3.51 $ 1,562 Exercisable at December 31, 2016 38,300 $ 17.86 1.57 $ 1,259 Year Ended December 31 2016 2015 2014 (In Thousands, except per share amounts) Intrinsic value of options exercised $ 752 $ 1,069 $ 542 Cash received from option exercises 714 1,469 963 Tax benefit realized from option exercises 165 160 103 Weighted average fair value of options granted $ 13.95 $ 13.13 $ 10.79 As of December 31, 2016, there was $ 156,000 3.2 . At December 31, 2016, 75,468 1.3 1.1 541,000 773,000 556,000 Restricted Stock Units Stock Grants Weighted-Average Weighted-Average Grant Date Grant Date Unvested Shares Shares Fair Value Shares Fair Value Unvested at January 1, 2016 74,545 $ 25.86 10,927 $ 30.98 Granted 24,526 39.30 10,905 23.39 Vested (7,011) 19.19 (10,171) 24.02 Forfeited (16,592) 19.19 (500) 32.00 Unvested at December 31, 2016 75,468 $ 32.31 11,161 $ 32.30 The maximum amount of compensation expense that may be earned for the 2016 STIP and the 2014, 2015 and 2016 LTIPs at December 31, 2016 is approximately $ 3.6 2.4 584,000 As of December 31, 2016 and 2015, 168,251 186,079 |
Parent Company Statements
Parent Company Statements | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 21. Parent Company Statements December 31 Statements of Financial Condition 2016 2015 (In Thousands) Assets Cash and cash equivalents $ 23,017 $ 12,919 Investment in banking subsidiary 290,053 287,436 Investment in non-bank subsidiaries 15,456 15,109 Other assets 1,155 1,191 Total assets $ 329,681 $ 316,655 Liabilities and stockholders’ equity: Subordinated debentures $ 36,083 $ 36,083 Accrued liabilities 580 375 Stockholders’ equity 293,018 280,197 Total liabilities and stockholders’ equity $ 329,681 $ 316,655 Years Ended December 31 Statements of Income 2016 2015 2014 (In Thousands) Dividends from subsidiaries $ 24,200 $ 30,900 $ 22,200 Interest on investments - 1 - Interest expense (753) (613) (587) Other income - 1 2 Noninterest expense (644) (588) (861) Income before income taxes and equity in earnings of subsidiaries 22,803 29,701 20,754 Income tax credit (466) (397) (485) Income before equity in earnings of subsidiaries 23,269 30,098 21,239 (Distributions in excess of) undistributed equity in earnings of subsidiaries 5,574 (3,675) 3,053 Net income $ 28,843 $ 26,423 $ 24,292 Comprehensive income $ 25,436 $ 25,931 $ 27,861 Years Ended December 31 Statements of Cash Flows 2016 2015 2014 (In Thousands) Operating activities: Net income $ 28,843 $ 26,423 $ 24,292 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Distribution in excess of (undistributed equity in) earnings of subsidiaries (5,574) 3,675 (3,053) Change in other assets and liabilities 235 (205) 59 Net cash provided by (used in) operating activities 23,504 29,893 21,298 Financing activities: Repurchase of common stock (6,293) (8,436) (15,519) Cash dividends paid (7,890) (7,159) (5,937) Stock Options Exercised 714 1,469 921 Direct stock sales 63 64 76 Repayment of stock warrants - (11,979) - Net cash used in financing activities (13,406) (26,041) (20,459) Net increase (decrease) in cash and cash equivalents 10,098 3,852 839 Cash and cash equivalents at beginning of year 12,919 9,067 8,228 Cash and cash equivalents at end of year $ 23,017 $ 12,919 $ 9,067 |
Fair Value
Fair Value | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 22. Fair Value FASB ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. FASB ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on the best information available. In that regard, FASB ASC Topic 820 established a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: · Level 1 : Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. · Level 2 : Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by a correlation or other means. · Level 3 : Unobservable inputs for determining fair value of assets and liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Available for sale securities - Securities classified as available for sale are generally reported at fair value utilizing Level 2 inputs where the Company obtains fair value measurements from an independent pricing service that uses matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows and the bonds’ terms and conditions, among other things. Securities in Level 1 include federal agency preferred stock securities. Securities in Level 2 include U.S. Government agencies, mortgage-backed securities, corporate bonds and municipal securities. Impaired loans - Fair values for impaired collateral dependent loans are generally based on appraisals obtained from licensed real estate appraisers and in certain circumstances consideration of offers obtained to purchase properties prior to foreclosure. Appraisals for commercial real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value on the cost to replace the current property. Value of market comparison approach evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and an investors required return. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Comparable sales adjustments are based on known sales prices of similar type and similar use properties and duration of time that the property has been on the market to sell. Such adjustments made in the appraisal process are typically significant and result in a Level 3 classification of the inputs for determining fair value. Real Estate held for sale - Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are then reviewed monthly by members of the asset review committee for valuation changes and are accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which may utilize a single valuation approach or a combination of approaches including cost, comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments may be significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Company’s asset quality or collections department reviews the assumptions and approaches utilized in the appraisal. Appraisal values are discounted from 0 20 Mortgage servicing rights On a quarterly basis, mortgage servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level based on a model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and are validated against available market data (Level 2). Mortgage banking derivative - The fair value of mortgage banking derivatives are evaluated monthly based on derivative valuation models using quoted prices for similar assets adjusted for specific attributes of the commitments and other observable market data at the valuation date (Level 2). Assets and Liabilities Measured on a Recurring Basis Level 1 Level 2 Level 3 Total Fair December 31, 2016 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 3,915 $ - $ 3,915 Mortgage-backed - residential - 81,707 - 81,707 REMICs - 1,307 - 1,307 Collateralized mortgage obligations - 63,005 - 63,005 Preferred stock 2 - - 2 Corporate bonds - 13,013 - 13,013 Obligations of state and political subdivisions - 88,043 88,043 Mortgage banking derivative - asset - 491 - 491 Level 1 Level 2 Level 3 Total Fair December 31, 2015 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 2,994 $ - $ 2,994 Mortgage-backed - residential - 64,654 - 64,654 REMICs - 1,620 - 1,620 Collateralized mortgage obligations - 71,799 - 71,799 Preferred stock 1 - - 1 Corporate bonds - 4,977 - 4,977 Obligations of state and political subdivisions - 90,390 90,390 Mortgage banking derivative - asset - 558 - 558 There were no assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2016 and 2015. Assets and Liabilities Measured on a Non-Recurring Basis Total Fair December 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 316 $ 316 Multi Family Residential - - - - Commercial Real Estate - - 848 848 Commercial 332 332 Home Equity and Improvement - - - - Total impaired loans - - 1,496 1,496 Mortgage servicing rights - 657 - 657 Real estate held for sale Residential - - - - CRE - - 377 377 Total Real Estate held for sale - - 377 377 Total Fair December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 398 $ 398 Multi Family Residential - - 91 91 Commercial Real Estate - - 4,575 4,575 Commercial - - Home Equity and Improvement - - 82 82 Total impaired loans - - 5,146 5,146 Mortgage servicing rights - 872 - 872 Real estate held for sale Residential - - - - CRE - - 280 280 Total Real Estate held for sale - - 280 280 Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 1,496 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11 % Real estate held for sale Applies to all classes $ 377 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 0-20 % 7 % For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows: Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,146 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11 % Real estate held for sale CRE $ 280 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 30 % 30 % Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a fair value of $ 1.5 1,000 5.1 8,000 1.0 580,000 3.0 Mortgage servicing rights, which are carried at the lower of cost or fair value, had a fair value of $ 657,000 522,000 872,000 645,000 123,000 266,000 116,000 Real estate held for sale is determined using Level 3 inputs which include appraisals and are adjusted for changes in market conditions. The change in fair value of real estate held for sale was $ 74,000 297,000 251,000 In accordance with FASB ASC Topic 825, the Fair Value Measurements tables are a comparative condensed consolidated statement of financial condition based on carrying amount and estimated fair values of financial instruments as of December 31, 2016 and December 31, 2015. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of First Defiance. Much of the information used to arrive at “fair value” is highly subjective and judgmental in nature and therefore the results may not be precise. Subjective factors include, among other things, estimated cash flows, risk characteristics and interest rates, all of which are subject to change. With the exception of investment securities, the Company’s financial instruments are not readily marketable and market prices do not exist. Since negotiated prices for the instruments, which are not readily marketable, depend greatly on the motivation of the buyer and seller, the amounts that will actually be realized or paid per settlement or maturity of these instruments could be significantly different. The carrying amount of cash and cash equivalents, term notes payable and advance payments by borrowers for taxes and insurance, as a result of their short-term nature, is considered to be equal to fair value and are classified as Level 1. It was not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability. The fair value of loans that reprice within 90 days is equal to their carrying amount. For other loans, the estimated fair value is calculated based on discounted cash flow analysis, using interest rates currently being offered for loans with similar terms, resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as previously described. The allowance for loan losses is considered to be a reasonable adjustment for credit risk. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. The fair value of loans held for sale is estimated based on binding contracts and quotes from third party investors resulting in a Level 2 classification. The fair value of accrued interest receivable is equal to the carrying amounts resulting in a Level 2 or Level 3 classification, which is consistent with its underlying asset. The fair value of non-interest bearing deposits are considered equal to the amount payable on demand at the reporting date (i.e., carrying value) and are classified as Level 1. The fair value of savings, NOW and certain money market accounts are equal to their carrying amounts and are a Level 2 classification. Fair values of fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. The fair values of securities sold under repurchase agreements are equal to their carrying amounts resulting in a Level 2 classification. The carrying value of subordinated debentures and deposits with fixed maturities is estimated based on discounted cash flow analyses based on interest rates currently being offered on instruments with similar characteristics and maturities resulting in a Level 3 classification. Fair Value Measurements at December 31, 2016 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 99,003 $ 99,003 $ 99,003 $ - $ - Investment securities 251,176 251,179 2 251,177 - Federal Home Loan Bank Stock 13,798 N/A N/A N/A N/A Loans, net, including loans held for sale 1,924,210 1,911,280 - 9,917 1,901,363 Accrued interest receivable 6,760 6,760 9 867 5,884 Financial Liabilities: Deposits $ 1,981,628 $ 1,987,723 $ 487,663 $ 1,500,060 $ - Advances from Federal Home Loan Bank 103,943 103,019 - 103,019 - Securities sold under repurchase agreements 31,816 31,816 - 31,816 - Subordinated debentures 36,083 34,718 - - 34,718 Fair Value Measurements at December 31, 2015 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 79,769 $ 79,769 $ 79,769 $ - $ - Investment securities 236,678 236,680 1 236,679 - Federal Home Loan Bank Stock 13,801 N/A N/A N/A N/A Loans, net, including loans held for sale 1,782,358 1,784,998 - 5,899 1,779,099 Accrued interest receivable 6,171 6,171 7 846 5,318 Financial Liabilities: Deposits $ 1,836,137 $ 1,840,464 $ 420,691 $ 1,419,773 $ - Advances from Federal Home Loan Bank 59,902 59,653 - 59,653 - Securities sold under repurchase agreements 57,188 57,188 - 57,188 - Subordinated debentures 36,083 35,305 - - 35,305 |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 23. Derivative Financial Instruments Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third-party investors are considered derivatives. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. These mortgage banking derivatives are not designated in hedge relationships. First Federal had approximately $ 14.1 14.9 22.5 19.9 December 31, 2016 December 31, 2015 Assets (Liabilities) Assets (Liabilities) Derivative Derivative Carrying Carrying Net Carrying Carrying Carrying Net Carrying Value Value Value Value Value Value (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives $ 491 $ - $ 491 $ 558 $ - $ 558 Twelve Months Ended December 31, 2016 2015 2014 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ (67) $ 231 $ 27 The above amounts are included in mortgage banking income with gain on sale of mortgage loans. During 2014, management determined that a group of loans, previously classified as held for sale, were no longer sellable and were transferred back into the portfolio. As a result, a $ 5,000 |
Quarterly Consolidated Results
Quarterly Consolidated Results of Operations (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | 24. Quarterly Consolidated Results of Operations (Unaudited) Three Months Ended March 31 June 30 September 30 December 31 (In Thousands, Except Per Share Amounts) 2016 Interest income $ 21,130 $ 21,480 $ 22,003 $ 22,770 Interest expense 1,942 2,084 2,183 2,231 Net interest income 19,188 19,396 19,820 20,539 Provision for loan losses 364 53 15 (149) Net interest income after provision for loan losses 18,824 19,343 19,805 20,688 Gain on sale, call or write-down of securities 131 227 151 - Noninterest income 8,505 8,348 8,375 8,293 Noninterest expense 17,274 17,347 18,292 18,180 Income before income taxes 10,186 10,571 10,039 10,801 Income taxes 3,017 3,307 2,994 3,436 Net income $ 7,169 $ 7,264 $ 7,045 $ 7,365 Earnings per common share: Basic $ 0.80 $ 0.81 $ 0.78 $ 0.82 Diluted $ 0.80 $ 0.80 $ 0.78 $ 0.81 Average shares outstanding: Basic 8,994 8,968 8,976 8,969 Diluted 9,064 9,036 9,050 9,035 Three Months Ended March 31 June 30 September 30 December 31 (In Thousands, Except Per Share Amounts) 2015 Interest income $ 19,757 $ 20,037 $ 20,266 $ 20,776 Interest expense 1,567 1,672 1,733 1,809 Net interest income 18,190 18,365 18,533 18,967 Provision for loan losses 120 - (27) 43 Net interest income after provision for loan losses 18,070 18,365 18,560 18,924 Gain on sale, call or write-down of securities - - - 22 Noninterest income 8,281 7,809 7,982 7,709 Noninterest expense 16,897 16,796 16,848 17,348 Income before income taxes 9,454 9,378 9,694 9,307 Income taxes 2,853 2,815 2,998 2,744 Net income $ 6,601 $ 6,563 $ 6,696 $ 6,563 Earnings per common share: Basic $ 0.71 $ 0.71 $ 0.72 $ 0.72 Diluted $ 0.69 $ 0.70 $ 0.72 $ 0.71 Average shares outstanding: Basic 9,234 9,268 9,238 9,146 Diluted 9,611 9,349 9,322 9,235 |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2016 | |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | |
Other Comprehensive Income Loss [Text Block] | 25. Other Comprehensive Income (Loss) Before Tax Tax Expense Net of Tax Amount (Benefit) Amount Twelve months ended December 31, 2016: (In Thousands) Securities available for sale and transferred securities: Change in net unrealized gain/(loss) during the period $ (4,933) $ (1,726) $ (3,207) Reclassification adjustment for net gains included in net income (509) (178) (331) Defined benefit postretirement medical plan: Net gain on defined benefit postretirement medical plan realized during the period 172 60 112 Reclassification adjustment for net amortization and deferral on defined benefit postretirement medical plan (included in compensation and benefits) 30 11 19 Total other comprehensive income $ (5,240) $ (1,833) $ (3,407) Before Tax Tax Expense Net of Tax Amount (Benefit) Amount Twelve months ended December 31, 2015: (In Thousands) Securities available for sale and transferred securities: Change in net unrealized gain/(loss) during the period $ (985) $ (345) $ (640) Reclassification adjustment for net gains included in net income (22) (7) (15) Defined benefit postretirement medical plan: Net gain on defined benefit postretirement medical plan realized during the period 204 72 132 Reclassification adjustment for net amortization and deferral on defined benefit postretirement medical plan (included in compensation and benefits) 47 16 31 Total other comprehensive income $ (756) $ (264) $ (492) Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (In Thousands) Balance January 1, 2016 $ 4,042 $ (420) $ 3,622 Other comprehensive income before reclassifications (3,207) 112 (3,095) Amounts reclassified from accumulated other comprehensive loss (331) 19 (312) Net other comprehensive income during period (3,538) 131 (3,407) Balance December 31, 2016 $ 504 $ (289) $ 215 Balance January 1, 2015 $ 4,697 $ (583) $ 4,114 Other comprehensive income before reclassifications (640) 132 (508) Amounts reclassified from accumulated other comprehensive loss (15) 31 16 Net other comprehensive income during period (655) 163 (492) Balance December 31, 2015 $ 4,042 $ (420) $ 3,622 |
Statement of Accounting Polic34
Statement of Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share Basic earnings per common share is computed by dividing net income applicable to common shares (net income less dividend requirements for preferred stock, accretion of preferred stock discount and redemption of preferred stock) by the weighted average number of shares of common stock outstanding during the period. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for the calculation. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, warrants, restricted stock awards and stock grants. See also Note 4. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on available-for-sale securities and the net unrecognized actuarial losses and unrecognized prior service costs associated with the Company’s Defined Benefit Postretirement Medical Plan. All items included in other comprehensive income are reported net of tax. See also Notes 5, 16 and 25 and the Consolidated Statements of Comprehensive Income. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flows Cash and cash equivalents include amounts due from banks and overnight investments with the Federal Home Loan Bank (“FHLB”) and the Federal Reserve. Cash and amounts due from depository institutions include required balances on hand or on deposit at the FHLB and Federal Reserve of approximately $ 1,809,000 1,896,000 |
Investment, Policy [Policy Text Block] | Investment Securities M anagement determines the appropriate classification of debt securities at the time of purchase and evaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when First Defiance has the positive intent and ability to hold the securities to maturity and are reported at cost, adjusted for premiums and discounts that are recognized in interest income using the interest method over the period to maturity. Debt securities not classified as held-to-maturity and equity securities are classified as available-for-sale. Available-for-sale securities are stated at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income (loss) until realized. Realized gains and losses are included in gains (losses) on securities or other-than-temporary impairment losses on securities. Realized gains and losses on securities sold are recognized on the trade date based on the specific identification method. Interest income includes amortization of purchase premiums and discounts. Premiums and discounts are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are expected. Securities with unrealized losses are reviewed quarterly to determine if value impairment is otherthan-temporary. In performing this review management considers the length of time and extent that fair value has been less than cost, the financial condition of the issuer, the impact of changes in market interest rates on market value and whether the Company intends to sell or it would be more than likely required to sell the securities prior to their anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) other-than-temporary impairment (“OTTI”) related to credit loss, which must be recognized in the income statement and (2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. |
Stock In Federal Home Loan Bank [Policy Text Block] | FHLB Stock First Federal is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. At December 31, 2016, the Company held $ 13.8 5,000 |
Policy Loans Receivable, Policy [Policy Text Block] | Loans Receivable Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of deferred loan fees and costs, purchase premiums and discounts and the allowance for loan losses. Deferred fees net of deferred incremental loan origination costs, are amortized to interest income generally over the contractual life of the loan using the interest method without anticipating prepayments. The recorded investment in loans includes accrued interest receivable and net deferred fees and costs and undisbursed loan amounts. Mortgage loans originated and intended for sale in the secondary market are classified as loans held for sale and are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains or losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. The Company may incur losses pertaining to loans sold to Fannie Mae and Freddie Mac but repurchased due to underwriting issues. Repurchase losses are recognized when the Company determines they are probable and estimable. Interest receivable is accrued on loans and credited to income as earned. The accrual of interest on loans 90 days delinquent or impaired is discontinued when, in management’s opinion, the borrower may be unable to meet payments as they become due. For these loans, interest accrual is only to the extent cash payments are received. The accrual of interest on these loans is generally resumed after a pattern of repayment has been established and the collection of principal and interest is reasonably assured. |
Certain Loans and Debt Securities Acquired in Transfer, Recognizing Interest Income on Impaired Loans, Policy [Policy Text Block] | Acquired Loans The Company acquires loans individually and in groups or portfolios. At acquisition, the Company reviews each loan to determine whether there is evidence of deterioration of credit quality since origination and if it is probable that it will be unable to collect all amounts due according to the loan’s contractual terms. If both conditions exist, the Company determines whether each such loan is to be accounted for individually or whether such loans will be assembled into pools of loans based on common risk characteristics (credit score, loan type and date of origination). The Company considers expected prepayments, and estimates the amount and timing of undiscounted expected principal, interest, and other cash flows (expected at acquisition) for each loan and subsequently aggregated pool of loans. The Company determines the excess of the loan’s or pool’s scheduled contractual principal and contractual interest payments over all cash flows expected at acquisition as an amount that should not be accreted (nonaccretable difference). The remaining amountrepresenting the excess of the loan’s cash flows expected to be collected over the amount paidis accreted into interest income over the remaining life of the loan or pool (accretable yield). Over the life of the loan or pool, the Company continues to estimate cash flows expected to be collected, and evaluates whether the present value of its loans determined using the effective interest rates has decreased and, if so, recognizes a loss. Valuation allowances for all acquired loans subject to FASB ASC Topic 310 reflect only those losses incurred after acquisitionthat is, the present value of cash flows expected at acquisition that are not expected to be collected. The present value of any subsequent increase in the loan’s or pool’s actual cash flows or cash flows expected to be collected is used first to reverse any existing valuation allowance for that loan or pool. For any remaining increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the loan’s or pool’s remaining life. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is maintained at a level believed adequate by management to absorb probable incurred losses in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans, actual loss experience, current economic events in specific industries and geographical areas and other pertinent factors, including general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience and consideration of economic trends, all of which may be susceptible to significant change. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Beginning June 30, 2015, the Company refined the methodology to its allowance for loan loss calculation pertaining to the general reserve component for non-impaired loans. There was no change to the calculation of the component for reserves on impaired loans. Within the general reserve, the determination of the historical loss component was modified from using a three-year average annual loss rate to a loss migration measurement. The loss migration measurement implemented June 30, 2015, utilized an average of four (4) four-year loss migration periods for each loan portfolio segment with differentiation between loan risk grades. Prior to June 30, 2015, the approach to this component quantified the historical loss by calculating a rolling twelve quarter average annual loss rate for each portfolio segment, without differentiation between loan risk grades. Beginning December 31, 2016 the historical loss calculation was changed from using an average of four (4) four-year loss migration periods to using an average of all four-year loss migration periods to the present beginning with data from the second quarter 2011. Management believes this enhancement is consistent with the rationale of the previous measurement but provides a more precise calculation of historical losses by incorporating more data points for the average loss ratio and including periods that provide a more complete coverage of the full business cycle. Management believes that capturing the risk grade changes and cumulative losses over the life cycle of a loan more accurately depicts management’s estimate of historical losses as well as being more reflective of the ongoing risks in the loan portfolio. These modifications resulted in a change in the general reserves between the loan portfolio segments but did not have a material impact on the overall allowance for loan losses. Loan losses are charged off against the allowance when in management’s estimation it is unlikely that the loan will be collected, while recoveries of amounts previously charged off are credited to the allowance. A provision for loan loss is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors in order to maintain the allowance for loan losses at the level deemed adequate by management. The determination of whether a loan is considered past due or delinquent is based on the contractual payment terms. Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. All loans are placed on nonaccrual status at 90 days past due unless the loan is adequately secured and is in process of collection. Any loan in the portfolio may be placed on nonaccrual status prior to becoming 90 days past due when collection of principal or interest is in doubt. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Impaired loans have been recognized in conformity with FASB ASC Topic 310. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loans agreement. Loans, for which terms have been modified and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. An analysis of the net present value of estimated cash flows is performed and an allowance may be established based on the outcome of that analysis, or if the loan is deemed to be collateral dependent an allowance is established based on the fair value of collateral. All modifications are reviewed by the First Federal’s Chief Credit Officer to determine whether or not the modification constitutes a troubled debt restructure. Commercial and commercial real estate loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net of the allowance allocation which is determined based on the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Large groups of smaller balance homogeneous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. The following portfolio segments have been identified: Commercial Real Estate Loans (consisting of multi-family residential and non-residential): Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans. These loans are viewed primarily as cash flow loans and the repayment of these loans is largely dependent on the successful operation of the property. Loan performance may be adversely affected by factors impacting the general economy or conditions specific to the real estate market such as geographic location and/or property type. Commercial Loans : Commercial credit is extended primarily to middle market customers. Such credits are typically comprised of working capital loans, loans for physical asset expansion, asset acquisition loans and other business loans. Loans to closely held businesses will generally be guaranteed in full or for a meaningful amount by the businesses' principal owners. Commercial loans are made based primarily on the historical and projected cash flow of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not behave as forecasted and collateral securing loans may fluctuate in value due to economic or individual performance factors. Minimum standards and underwriting guidelines have been established for all commercial loan types. Consumer Finance Loans : Consumer finance loans are generally made to borrowers for a specific consumer purchase and are made based on their ability to repay with their current debt to income as well as the underlying collateral value of the item being purchased. Credit scores are part of the decision process of whether or not credit is extended. Minimum standards and underwriting guidelines have been established for all consumer loan types. 1-4 Family Residential Real Estate Loans : 1-4 family residential real estate loans can be categorized two different ways. One part of this portfolio is owner occupied and are made based primarily on the ability of the individual borrower to support the payments as well as the payments of any other debt the borrower may have outstanding at the time the loan is made. The other part of this portfolio is non-owner occupied income producing property and is made primarily based on the cash flow stream from rental income as well as the cash flow support from the borrower’s unrelated cash flow. Both types of loans have a secondary repayment source of the underlying collateral and generally the loans are not extended at higher than an 80% LTV. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. Construction Loans : The Company defines construction loans as loans where the loan proceeds are controlled by the Company and used exclusively for the improvement of real estate in which the Company holds a mortgage. Home Equity and Improvement Loans : Home Equity and Improvement loans are made to borrowers based on their ability to repay with their current debt to income as well as the underlying collateral value of the real estate taken as security. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. Consumer finance, 1-4 family residential real estate (including construction) and home equity and improvement loans are subject to adverse employment conditions in the local economy which could increase default rate on loans. |
Transfers and Servicing of Financial Assets, Servicing of Financial Assets, Policy [Policy Text Block] | Servicing Rights Servicing rights are recognized separately when they are acquired through sales of loans. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans, driven, generally, by changes in market interest rates. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with mortgage banking income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income, which is reported on the income statement with mortgage banking income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $ 3.6 3.5 3.6 |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance The Company has purchased life insurance policies for certain key employees. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment and Long Lived Assets Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization computed principally by the straight-line method over the following estimated useful lives: Buildings and improvements 20 to 50 years Furniture, fixtures and equipment 3 to 15 years Long-lived assets to be held and those to be disposed of and certain intangibles are periodically evaluated for impairment. See Note 9. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangibles Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected November 30 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on First Defiance’s balance sheet. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from whole bank, insurance and branch acquisitions. They are initially recorded at fair value and then amortized on an accelerated basis over their estimated lives, which range from five years for non-compete agreements to 10 20 |
Real Estate Held for Development and Sale, Policy [Policy Text Block] | Real Estate and Other Assets Held for Sale Real estate and other assets held for sale are comprised of properties or other assets acquired through foreclosure proceedings or acceptance of a deed in lieu of foreclosure. These assets are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Losses arising from the acquisition of such property are charged against the allowance for loan losses at the time of acquisition. These properties are carried at the lower of cost or fair value, less estimated costs to dispose. If fair value declines subsequent to foreclosure, the property is written down against expense. Costs after acquisition are expensed. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Compensation Plans Compensation cost is recognized for stock options and restricted share awards issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. Restricted shares awards are valued at the market value of Company stock at the date of the grant. 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. See Note 20. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 22. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Sales, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in fair values of these derivatives are included in mortgage banking income. |
Segment Reporting, Policy [Policy Text Block] | Operating Segments Management considers the following factors in determining the need to disclose separate operating segments: (1) The nature of products and services, which are all financial in nature. (2) The type and class of customer for the products and services; in First Defiance’s case retail customers for retail bank and insurance products and commercial customers for commercial loan, deposit, life, health and property and casualty insurance needs. (3) The methods used to distribute products or provide services; such services are delivered through banking and insurance offices and through bank and insurance customer contact representatives. Retail and commercial customers are frequently targets for both banking and insurance products. (4) The nature of the regulatory environment; both banking and insurance entities are subject to various regulatory bodies and a number of specific regulations. Quantitative thresholds as stated in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting 9.2 4.9 0.6 |
Dividend Restriction [Policy Text Block] | Dividend Restriction Banking regulations require maintaining certain capital levels and may limit the dividends paid by the savings bank to the holding company. See Note 17 for further details on restrictions. |
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. |
Malpractice Loss Contingency, Policy [Policy Text Block] | Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the financial statements. |
Income Tax, Policy [Policy Text Block] | Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. An effective tax rate of 35 A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block] | Retirement Plans Pension expense is the net of service and interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Employee 401(k) plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service. See Note 16 and 19. |
Reclassification, Policy [Policy Text Block] | Reclassifications Some items in the prior year financial statements were reclassified to conform to the current presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Updates In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2016-05 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force). The amendments in this update provide guidance on eight specific cash flow issues. The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The amendments in this update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company does not believe this standard will have a material impact on its consolidated statements of cash flows. In June 2016, the FASB issued new accounting guidance in ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326). The main objective of the update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current Generally Accepted Accounting Principles with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to form credit loss estimates. The amendments in this update become effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. The Company is currently evaluating the impact of this new accounting standard on the Company's consolidated financial statements. Management’s initial review indicates it has maintained sufficient historical loan data to support the requirement of this pronouncement and is currently evaluating the various loss methodologies to determine their correlations to the Company’s loan segments historical performance. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The objective of the update is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact this standard will have on its financial position and results of operations, though the Company expects that its real estate leases will be recognized on the consolidated balance sheet. In January 2016, the FASB issued ASU No. 2016-01 Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2017, and requires a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. Early adoption is not permitted. The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements. Management’s preliminary finding is that the new pronouncement will not have a significant impact on its results of operations. The pronouncement will require some revision to the Company’s disclosures within the consolidated financial statements and is currently evaluating the impact. In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers, and subsequently has issued five related accounting standard updates clarifying several aspects of ASU 2014-09, including technical corrections and improvements. The overall objective of the new standards updates is to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that will be applied to determine the measurement of revenue and timing of when it is recognized. The Company anticipates adopting the new standard on its effective date, January 1, 2018, though the Company has not yet selected whether it would adopt using the retrospective approach with adjustments to each prior period or the retrospective method with the cumulative effect of initial application recognized at the date of initial application. While the Company is continuing to assess all potential impacts this standard will have on its financial position and results of operations, early conclusions indicate that these standards will not have a material impact. The implementation efforts include the identification of revenue within the scope of the guidance, as well as the evaluation of revenue contracts. |
Statement of Accounting Polic35
Statement of Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization computed principally by the straight-line method over the following estimated useful lives: Buildings and improvements 20 to 50 years Furniture, fixtures and equipment 3 to 15 years |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table sets forth the computation of basic and diluted earnings per common share: 2016 2015 2014 (In Thousands, Except Per Share Amounts) Basic Earnings Per Share: Net income available to common shareholders $ 28,843 $ 26,423 $ 24,292 Less: Income allocated to participating securities 39 8 4 Net income allocated to common shareholders 28,804 26,415 24,288 Weighted average common shares outstanding 8,980 9,221 9,511 Less: Participating securities 11 11 6 Average common shares 8,969 9,210 9,505 Basic earnings per common share $ 3.21 $ 2.87 $ 2.55 Diluted Earnings Per Share: Net income allocated to common shareholders $ 28,804 $ 26,415 $ 24,288 Weighted average common shares outstanding 8,969 9,210 9,505 Add: Dilutive effects of stock options 66 87 111 Add: Dilutive effects of warrants - 75 353 Average shares and dilutive potential common shares 9,035 9,371 9,969 Diluted earnings per common share $ 3.19 $ 2.82 $ 2.44 |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Marketable Securities [Abstract] | |
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block] | The following tables summarize the amortized cost and fair value of available-for-sale securities and held-to-maturity investment securities at December 31, 2016 and 2015 and the corresponding amounts of gross unrealized and unrecognized gains and losses: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) 2016 Available-for-sale Obligations of U.S. government corporations and agencies $ 4,000 $ - $ (85) $ 3,915 Mortgage-backed securities - residential 82,619 390 (1,302) 81,707 REMICs 1,309 - (2) 1,307 Collateralized mortgage obligations 63,204 422 (621) 63,005 Preferred stock - 2 - 2 Corporate bonds 12,919 97 (3) 13,013 Obligations of state and political subdivisions 86,165 2,491 (613) 88,043 Total Available-for-Sale $ 250,216 $ 3,402 $ (2,626) $ 250,992 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity FHLMC certificates $ 12 $ - $ - $ 12 FNMA certificates 56 2 - 58 GNMA certificates 23 1 - 24 Obligations of states and political subdivisions 93 - - 93 Total Held-to-Maturity $ 184 $ 3 $ - $ 187 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) 2015 Available-for-sale Obligations of U.S. government corporations and agencies $ 3,000 $ 1 $ (7) $ 2,994 Mortgage-backed securities - residential 63,815 898 (59) 64,654 REMICs 1,592 28 - 1,620 Collateralized mortgage obligations 71,176 976 (353) 71,799 Preferred stock - 1 - 1 Corporate bonds 4,955 39 (17) 4,977 Obligations of state and political subdivisions 85,680 4,712 (2) 90,390 Total Available-for-Sale $ 230,218 $ 6,655 $ (438) $ 236,435 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity FHLMC certificates $ 14 $ - $ - $ 14 FNMA certificates 74 2 (1) 75 GNMA certificates 31 1 - 32 Obligations of states and political subdivisions 124 - - 124 Total Held-to-Maturity $ 243 $ 3 $ (1) $ 245 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-Sale Amortized Fair Cost Value (In Thousands) 2016 Available-for-sale Due in one year or less $ 577 $ 586 Due after one year through 21,850 22,136 Due after five years through 41,311 42,784 Due after ten years 39,346 39,467 MBS/CMO/REMIC 147,132 146,019 Total $ 250,216 $ 250,992 Held-to-maturity Due after one year through $ 93 $ 93 MBS 91 94 Total $ 184 $ 187 |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following table summarizes First Defiance’s securities that were in an unrealized loss position at December 31, 2016 and December 31, 2015: Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loses (In Thousands) At December 31, 2016 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 3,915 $ (85) $ - $ - $ 3,915 $ (85) Mortgage-backed securities-residential 63,736 (1,302) - - 63,736 (1,302) REMICs 1,308 (2) - - 1,308 (2) Collateralized mortgage obligations 28,882 (566) 1,227 (55) 30,110 (621) Corporate bonds - - 997 (3) 997 (3) Obligations of state and political subdivisions 19,172 (613) - - 19,172 (613) Total temporarily impaired securities $ 117,013 $ (2,568) $ 2,224 $ (58) $ 119,238 $ (2,626) At December 31, 2015 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 993 $ (7) $ - $ - $ 993 $ (7) Mortgage-backed securities-residential 12,525 (59) - - 12,525 (59) Collateralized mortgage obligations 12,374 (150) 8,158 (203) 20,532 (353) Corporate bonds 983 (17) - - 983 (17) Obligations of state and political subdivisions - - 433 (2) 433 (2) Held to maturity securities: FNMA certificates 13 (1) - - 13 (1) Total temporarily impaired securities $ 26,888 $ (234) $ 8,591 $ (205) $ 35,479 $ (439) |
Schedule of Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | The table below presents a roll-forward of the credit losses relating to debt securities recognized in earnings for the years ended December 31, 2016, 2015 and 2014 (In Thousands): 2016 2015 2014 Beginning balance, January 1 $ - $ - $ 3,513 Additions for amounts related to credit loss for which an OTTI was not previously recognized - - - Reductions for amounts realized for securities sold/redeemed during the period - - (3,513) Ending balance, December 31 $ - $ - $ - |
Marketable Securities [Table Text Block] | The proceeds from sales and calls of securities and the associated gains and losses are listed below: 2016 2015 2014 (In Thousands) Proceeds $ 14,871 $ 426 $ 14,913 Gross realized gains 509 22 1,574 Gross realized losses - - (642) |
Commitments and Contingent Li38
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Line of Credit Facilities [Table Text Block] | The Company’s maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding on December 31 was as follows (In Thousands): 2016 2015 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 34,432 $ 106,356 $ 80,862 $ 76,253 Unused lines of credit 14,384 400,542 31,991 323,171 Standby letters of credit - 9,668 - 19,632 Total $ 48,816 $ 516,566 $ 112,853 $ 419,056 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Loans Receivable, Net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable consist of the following: December 31, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 207,550 $ 205,330 Secured by multi-family residential 196,983 167,558 Secured by commercial real estate 843,579 780,870 Construction 182,886 163,877 1,430,998 1,317,635 Other Loans: Commercial 469,055 419,349 Home equity and improvement 118,429 116,962 Consumer Finance 16,680 16,281 604,164 552,592 Total loans 2,035,162 1,870,227 Deduct: Undisbursed loan funds (93,355 ) (66,902 ) Net deferred loan origination fees and costs (1,320 ) (1,108 ) Allowance for loan loss (25,884 ) (25,382 ) Totals $ 1,914,603 $ 1,776,835 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | The following table discloses the year-to-date activity in the allowance for loan loss for the dates indicated by portfolio segment (In Thousands): Year to Date December 31, 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Charge-Offs (350 ) - (92 ) - (615 ) (268 ) (94 ) (1,419 ) Recoveries 166 - 923 - 335 150 64 1,638 Provisions (401 ) 77 (1,978 ) (67 ) 2,386 200 66 283 Ending Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Year to Date December 31, 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 Charge-Offs (283 ) (114 ) (353 ) - (68 ) (350 ) (53 ) (1,221 ) Recoveries 214 - 915 - 331 188 53 1,701 Provisions 787 (188 ) (58 ) 296 (1,517 ) 762 54 136 Ending Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Year to Date December 31, 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,847 $ 2,508 $ 12,000 $ 134 $ 5,678 $ 1,635 $ 148 $ 24,950 Charge-Offs (426 ) - (1,018 ) - (2,982 ) (392 ) (41 ) (4,859 ) Recoveries 188 7 2,670 - 435 193 65 3,558 Provisions (115 ) (62 ) (2,384 ) 87 3,378 268 (55 ) 1,117 Ending Allowance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 |
Schedule of Allowance for Loan Losses and Recorded Investment in Portfolio Segment Based on Impairment [Table Text Block] | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2016: (In Thousands) 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 202 $ 4 $ 255 $ - $ 35 $ 313 $ - $ 809 Collectively evaluated for impairment 2,425 2,224 10,370 450 7,326 2,073 207 25,075 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Loans: Loans individually evaluated for impairment $ 6,898 $ 3,483 $ 13,570 $ - $ 2,154 $ 1,269 $ 59 $ 27,433 Loans collectively evaluated for impairment 200,907 193,714 832,446 89,244 468,246 117,744 16,625 1,918,926 Loans acquired with deteriorated credit quality - - - - 11 - - 11 Total ending loans balance $ 207,805 $ 197,197 $ 846,016 $ 89,244 $ 470,411 $ 119,013 $ 16,684 $ 1,946,370 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2015: (In Thousands) 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 201 $ - $ 139 $ - $ 63 $ 34 $ - $ 437 Collectively evaluated for impairment 3,011 2,151 11,633 517 5,192 2,270 171 24,945 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Loans: Loans individually evaluated for impairment $ 7,574 $ 3,313 $ 23,493 $ - $ 6,107 $ 1,491 $ 71 $ 42,049 Loans collectively evaluated for impairment 198,106 164,382 759,281 96,845 414,527 115,977 16,199 1,765,317 Loans acquired with deteriorated credit quality - - 153 - 16 - - 169 Total ending loans balance $ 205,680 $ 167,695 $ 782,927 $ 96,845 $ 420,650 $ 117,468 $ 16,270 $ 1,807,535 |
Loans Receivable, Impaired, Interest Income, Cash Basis Method [Table Text Block] | The following tables presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans for the years ended December 31, 2016, 2015 and 2014 (In Thousands): Twelve Months Ended December 31, Average Interest Cash Basis Residential Owner Occupied $ 3,954 $ 244 $ 237 Residential Non Owner Occupied 3,133 211 210 Total 1-4 Family Residential Real Estate 7,087 455 447 Multi-Family Residential Real Estate 3,946 124 123 CRE Owner Occupied 6,925 203 183 CRE Non Owner Occupied 5,351 411 407 Agriculture Land 2,283 128 68 Other CRE 1,632 71 70 Total Commercial Real Estate 16,191 813 728 Construction - - - Commercial Working Capital 1,606 109 90 Commercial Other 2,393 81 79 Total Commercial 3,999 190 169 Home Equity and Home Improvement 1,543 85 83 Consumer Finance 67 8 8 Total Impaired Loans $ 32,833 $ 1,675 $ 1,558 Twelve Months Ended December 31, Average Interest Cash Basis Residential Owner Occupied $ 6,985 $ 246 $ 244 Residential Non Owner Occupied 5,444 152 152 Total 1-4 Family Residential Real Estate 12,429 398 396 Multi-Family Residential Real Estate 3,799 40 40 CRE Owner Occupied 9,019 168 167 CRE Non Owner Occupied 10,125 349 348 Agriculture Land 2,980 88 56 Other CRE 3,554 81 80 Total Commercial Real Estate 25,678 686 651 Construction 50 2 2 Commercial Working Capital 2,217 58 56 Commercial Other 4,773 49 49 Total Commercial 6,990 107 115 Home Equity and Home Improvement 2,757 62 62 Consumer Finance 80 14 14 Total Impaired Loans $ 51,783 $ 1,309 $ 1,270 Twelve Months Ended December 31, Average Interest Cash Basis Residential Owner Occupied $ 6,177 $ 317 $ 313 Residential Non Owner Occupied 3,920 143 143 Total 1-4 Family Residential Real Estate 10,097 460 456 Multi-Family Residential Real Estate 903 4 4 CRE Owner Occupied 8,906 145 142 CRE Non Owner Occupied 18,164 807 809 Agriculture Land 611 14 14 Other CRE 1,694 20 22 Total Commercial Real Estate 29,375 986 987 Construction 233 12 15 Commercial Working Capital 2,790 29 29 Commercial Other 4,576 14 12 Total Commercial 7,366 43 41 Home Equity and Home Improvement 2,233 95 94 Consumer Finance 47 3 3 Total Impaired Loans $ 50,254 $ 1,603 $ 1,600 |
Impaired Financing Receivables [Table Text Block] | The following table presents loans individually evaluated for impairment by class of loans (In Thousands): December 31, 2016 December 31, 2015 Unpaid Recorded Allowance Unpaid Recorded Allowance With no allowance recorded: Residential Owner Occupied $ 1,912 $ 1,765 $ - $ 1,383 $ 1,360 $ - Residential Non Owner Occupied 1,691 1,683 - 2,147 2,141 - Total 1-4 Family Residential Real Estate 3,603 3,448 - 3,530 3,501 - Multi-Family Residential Real Estate 3,578 3,430 - 3,463 3,313 - CRE Owner Occupied 2,652 2,353 - 4,869 4,520 - CRE Non Owner Occupied 4,372 4,240 - 7,932 7,685 - Agriculture Land 1,695 1,722 - 3,546 3,596 - Other CRE 1,225 1,115 - 4,076 4,046 - Total Commercial Real Estate 9,944 9,430 - 20,423 19,847 - Construction - - - - - - Commercial Working Capital 838 786 - 1,644 1,648 - Commercial Other 1,179 967 - 3,573 3,607 - Total Commercial 2,017 1,753 - 5,217 5,255 - Home Equity and Home Improvement 631 585 - 817 772 - Consumer Finance 55 55 - 60 59 - Total loans with no allowance recorded $ 19,828 $ 18,701 $ - $ 33,510 $ 32,747 $ - With an allowance recorded: Residential Owner Occupied $ 2,348 $ 2,319 $ 157 $ 2,918 $ 2,837 $ 188 Residential Non Owner Occupied 1,137 1,131 45 1,231 1,236 13 Total 1-4 Family Residential Real Estate 3,485 3,450 202 4,149 4,073 201 Multi-Family Residential Real Estate 53 53 4 - - - CRE Owner Occupied 2,362 1,894 102 3,250 2,767 132 CRE Non Owner Occupied 1,618 1,479 108 385 308 2 Agriculture Land 45 45 3 68 69 2 Other CRE 1,144 722 42 926 502 3 Total Commercial Real Estate 5,169 4,140 255 4,629 3,646 139 Construction - - - - - - Commercial Working Capital 230 231 24 594 596 62 Commercial Other 167 170 11 252 256 1 Total Commercial 397 401 35 846 852 63 Home Equity and Home Improvement 688 684 313 724 719 34 Consumer Finance 4 4 - 12 12 - Total loans with an allowance recorded $ 9,796 $ 8,732 $ 809 $ 10,360 $ 9,302 $ 437 * Presented gross of charge offs |
Schedule of Non-Performing Loans and Real Estate Owned [Table Text Block] | The following table presents the current balance of the aggregate amounts of non-performing assets, comprised of non-performing loans and real estate owned on the dates indicated: December 31, December 31, (In Thousands) Non-accrual loans $ 14,348 $ 16,261 Loans over 90 days past due and still accruing - - Total non-performing loans 14,348 16,261 Real estate and other assets held for sale 455 1,321 Total non-performing assets $ 14,803 $ 17,582 Troubled debt restructuring, still accruing $ 10,544 $ 11,178 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2016 by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Past Total Non Residential Owner Occupied $ 139,015 $ 56 $ 842 $ 544 $ 1,442 $ 1,931 Residential Non Owner Occupied 66,811 166 308 63 537 992 Total 1-4 Family Residential Real Estate 205,826 222 1,150 607 1,979 2,923 Multi-Family Residential Real Estate 197,197 - - - - 2,637 CRE Owner Occupied 340,233 79 - 1,396 1,475 3,098 CRE Non Owner Occupied 338,724 81 16 426 523 1,808 Agriculture Land 102,397 - - - - 755 Other Commercial Real Estate 62,415 - - 249 249 1,292 Total Commercial Real Estate 843,769 160 16 2,071 2,247 6,953 Construction 89,244 - - - - - Commercial Working Capital 202,786 - 10 38 48 435 Commercial Other 267,189 23 - 365 388 577 Total Commercial 469,975 23 10 403 436 1,012 Home Equity and Home Improvement 117,458 1,125 176 254 1,555 730 Consumer Finance 16,452 85 69 78 232 91 Total Loans $ 1,939,921 $ 1,615 $ 1,421 $ 3,413 $ 6,449 $ 14,346 The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2015 by class of loans: (In Thousands) Current 30-59 days 60-89 days 90+ days Total Total Non Residential Owner Occupied $ 138,974 $ 159 $ 673 $ 391 $ 1,223 $ 1,428 Residential Non Owner Occupied 64,577 324 356 226 906 1,179 Total 1-4 Family Residential Real Estate 203,551 483 1,029 617 2,129 2,607 Multi-Family Residential Real Estate 165,671 - - 2,024 2,024 2,417 CRE Owner Occupied 322,940 772 1,218 1,266 3,256 4,141 CRE Non Owner Occupied 304,166 - 106 538 644 1,229 Agriculture Land 98,055 57 - - 57 695 Other Commercial Real Estate 53,494 - - 315 315 1,364 Total Commercial Real Estate 778,655 829 1,324 2,119 4,272 7,429 Construction 96,845 - - - - - Commercial Working Capital 168,938 16 - 154 170 251 Commercial Other 249,070 203 46 2,223 2,472 2,833 Total Commercial 418,008 219 46 2,377 2,642 3,084 Home Equity and Home Improvement 116,599 733 92 44 869 689 Consumer Finance 16,216 27 3 24 54 36 Total Loans $ 1,795,545 $ 2,291 $ 2,494 $ 7,205 $ 11,990 $ 16,262 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table presents loans by class modified as TDRs that occurred during the years indicated (Dollars in Thousands): Loans Modified as a TDR for the Loans Modified as a TDR for the Loans Modified as a TDR for the TDRs Number of Recorded Number of Recorded Number of Recorded Residential Owner Occupied 17 $ 778 6 $ 454 18 $ 1,726 Residential Non Owner Occupied 5 494 4 59 3 517 Multi Family 2 1,885 - - - - CRE Owner Occupied - - 2 645 2 27 CRE Non Owner Occupied 5 974 2 244 3 403 Agriculture Land 1 45 3 1,443 - - Other CRE 1 348 - - - - Commercial Working Capital 1 226 2 62 4 1,353 Commercial Other 1 587 2 70 16 2,020 Home Equity and Home Improvement 9 281 13 324 17 471 Consumer Finance 2 14 9 62 4 15 Total 44 $ 5,632 43 $ 3,363 67 $ 6,532 |
Troubled Debt Restructurings on Payments [Table Text Block] | The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the indicated: Twelve Months Ended Twelve Months Ended Twelve Months Ended TDRs Number of Recorded Number of Recorded Number of Recorded Residential Owner Occupied - $ - - $ - 1 $ 80 Residential Non Owner Occupied - - - - 1 178 CRE Owner Occupied - - - - - - CRE Non Owner Occupied 1 205 - - - - Agriculture Land - - - - - - Other CRE - - - - - - Commercial Working Capital - - 1 120 2 868 Commercial Other - - 5 1,791 5 865 Home Equity and Home Improvement - - 1 22 - - Consumer - - - - - - Total 1 $ 205 7 $ 1,933 9 $ 1,991 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Substandard Doubtful Not Total Residential Owner Occupied $ 5,980 $ 402 $ 1,824 $ - $ 132,250 $ 140,456 Residential Non Owner Occupied 58,041 1,394 3,480 - 4,434 67,349 Total 1-4 Family Real Estate 64,021 1,796 5,304 - 136,684 207,805 Multi-Family Residential Real Estate 192,369 862 3,852 - 114 197,197 CRE Owner Occupied 316,335 20,559 4,430 - 384 341,708 CRE Non Owner Occupied 332,196 1,617 5,435 - - 339,248 Agriculture Land 98,039 2,355 2,002 - - 102,396 Other CRE 59,561 60 2,297 - 746 62,664 Total Commercial Real Estate 806,131 24,591 14,164 - 1,130 846,016 Construction 67,751 706 - - 20,787 89,244 Commercial Working Capital 193,043 8,301 1,490 - - 202,834 Commercial Other 262,076 3,749 1,752 - - 267,577 Total Commercial 455,119 12,050 3,242 - - 470,411 Home Equity and Home Improvement - - 696 - 118,317 119,013 Consumer Finance - - 90 - 16,594 16,684 Total Loans $ 1,585,391 $ 40,005 $ 27,348 $ - $ 293,626 $ 1,946,370 As of December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Substandard Doubtful Not Total Residential Owner Occupied $ 5,828 $ 123 $ 2,427 $ - $ 131,820 $ 140,198 Residential Non Owner Occupied 55,169 1,420 4,439 - 4,454 65,482 Total 1-4 Family Real Estate 60,997 1,543 6,866 - 136,274 205,680 Multi-Family Residential Real Estate 163,405 498 3,675 - 117 167,695 CRE Owner Occupied 297,856 17,896 9,730 - 714 326,196 CRE Non Owner Occupied 293,057 2,143 9,595 - 15 304,810 Agriculture Land 92,262 1,947 3,903 - - 98,112 Other CRE 47,109 469 5,739 - 492 53,809 Total Commercial Real Estate 730,284 22,455 28,967 - 1,221 782,927 Construction 76,152 2,159 - - 18,534 96,845 Commercial Working Capital 163,071 2,497 3,540 - - 169,108 Commercial Other 243,308 2,706 5,528 - - 251,542 Total Commercial 406,379 5,203 9,068 - - 420,650 Home Equity and Home Improvement - - 689 - 116,779 117,468 Consumer Finance - - 15 - 16,255 16,270 Total Loans $ 1,437,217 $ 31,858 $ 49,280 $ - $ 289,180 $ 1,807,535 |
Estimated Fair Value Of Loans [Table Text Block] | etails of these loans are as follows: Contractual Impairment Recorded (In Thousands) Balance at January 1, 2014 $ 503 $ 273 $ 230 Principal payments received (90 ) - (90 ) Loans charged off - - - Additional provision for loan loss - - - Loan accretion recorded - (46 ) 46 Balance at December 31, 2014 413 227 186 Principal payments received (51 ) - (51 ) Loans charged off - - - Additional provision for loan loss - - - Loan accretion recorded - (34 ) 34 Balance at December 31, 2015 362 193 169 Principal payments received (261 ) - (261 ) Loans charged off (35 ) (35 ) - Additional provision for loan loss - - - Loan accretion recorded - (103 ) 103 Balance at December 31, 2016 $ 66 $ 55 $ 11 |
Schedule Of Loan Allocated To Executive Officers Directors And Their Affiliates [Table Text Block] | Loans to executive officers, directors, and their affiliates are as follows: Years Ended December 31 2016 2015 (In Thousands) Beginning balance $ 7,349 $ 5,888 New loans 4,783 5,822 Effect of changes in composition of related parties 12,320 (54 ) Repayments (8,253 ) (4,307 ) Ending Balance $ 16,199 $ 7,349 |
Mortgage Banking (Tables)
Mortgage Banking (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Mortgage Banking [Abstract] | |
Mortgage Loans [Table Text Block] | Net revenues from the sales and servicing of mortgage loans consisted of the following: Years Ended December 31 2016 2015 2014 (In Thousands) Gain from sale of mortgage loans $ 5,311 $ 4,564 $ 3,335 Mortgage loan servicing revenue (expense): Mortgage loan servicing revenue 3,560 3,503 3,552 Amortization of mortgage servicing rights (1,724) (1,620) (1,401) Mortgage servicing rights valuation adjustments 123 266 116 1,959 2,149 2,267 Net mortgage banking income $ 7,270 $ 6,713 $ 5,602 |
Capitalized Mortgage and Valuation Allowance [Table Text Block] | Activity for capitalized mortgage servicing rights and the related valuation allowance follows: Years Ended December 31 2016 2015 2014 (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 9,893 $ 9,923 $ 10,133 Loans sold, servicing retained 1,948 1,590 1,191 Amortization (1,724) (1,620) (1,401) Carrying value before valuation allowance at end of period 10,117 9,893 9,923 Valuation allowance: Balance at beginning of period (645) (911) (1,027) Impairment recovery (charges) 123 266 116 Balance at end of period (522) (645) (911) Net carrying value of MSRs at end of period $ 9,595 $ 9,248 $ 9,012 Fair value of MSRs at end of period $ 9,770 $ 9,802 $ 9,304 |
Servicing Portfolio [Table Text Block] | The Company’s servicing portfolio is comprised of the following: December 31 2016 2015 Number of Principal Number of Principal Investor Loans Outstanding Loans Outstanding (In Thousands) Fannie Mae 5,004 $ 470,692 5,104 $ 484,155 Freddie Mac 9,229 889,280 9,015 845,564 Federal Home Loan Bank 101 11,081 118 12,605 Other 16 965 21 1,398 Totals 14,350 $ 1,372,018 14,258 $ 1,343,722 |
Schedule of Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferors Continuing Involvement, Servicing Assets or Liabilities [Table Text Block] | 10% Adverse 20% Adverse Change Change (In Thousands) Assumption: Decline in fair value from increase in prepayment rate $ 243 $ 475 Decline in fair value from increase in discount rate 311 612 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Premises and equipment are summarized as follows: December 31 2016 2015 (In Thousands) Cost: Land $ 7,534 $ 7,494 Land improvements 1,310 1,310 Buildings 41,895 41,556 Leasehold improvements 971 971 Furniture, fixtures and equipment 31,253 29,622 Construction in process 787 656 83,750 81,609 Less allowances for depreciation and amortization (46,792) (43,443) $ 36,958 $ 38,166 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum commitments under non-cancelable operating leases are as follows (In Thousands): 2017 $ 584 2018 400 2019 337 2020 265 2021 222 Thereafter 2,654 Total $ 4,462 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | The change in the carrying amount of goodwill for the year is as follows: December 31 2016 2015 (In Thousands) Beginning balance $ 61,798 $ 61,525 Goodwill acquired or adjusted during the year - 273 Ending balance $ 61,798 $ 61,798 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Activity in intangible assets for the years ended December 31, 2016, 2015 and 2014 was as follows: Gross Carrying Accumulated Net Amount Amortization Value (In Thousands) Balance as of January 1, 2014 $ 14,302 $ (10,805) $ 3,497 Amortization of intangible assets - (1,102) (1,102) Balance as of December 31, 2014 14,302 (11,907) 2,395 Intangible assets acquired 175 - 175 Amortization of intangible assets - (699) (699) Balance as of December 31, 2015 14,477 (12,606) 1,871 Amortization of intangible assets - (535) (535) Balance as of December 31, 2016 $ 14,477 $ (13,141) $ 1,336 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated amortization expense for each of the next five years and thereafter is as follows (In Thousands): 2017 $ 404 2018 332 2019 225 2020 149 2021 87 Thereafter 139 Total $ 1,336 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Schedule Sets Forth Interest Expense By Type Of Deposit [Table Text Block] | The following schedule sets forth interest expense by type of deposit: Years Ended December 31 2016 2015 2014 (In Thousands) Checking and money market accounts $ 1,463 $ 1,186 $ 1,236 Savings accounts 88 89 90 Certificates of deposit 4,710 4,066 3,957 Totals $ 6,261 $ 5,341 $ 5,283 |
Deposits [Table Text Block] | A summary of deposit balances is as follows: December 31 2016 2015 (In Thousands) Non-interest bearing checking accounts $ 487,663 $ 420,691 Interest bearing checking and money market accounts 816,665 767,201 Savings deposits 243,369 219,655 Retail certificates of deposit less than $250,000 400,080 403,902 Retail certificates of deposit greater than $250,000 33,851 24,688 $ 1,981,628 $ 1,836,137 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Scheduled maturities of certificates of deposit at December 31, 2016 are as follows (In Thousands): 2017 $ 156,767 2018 117,627 2019 78,750 2020 35,298 2021 45,489 Thereafter - Total $ 433,931 |
Advances from Federal Home Lo44
Advances from Federal Home Loan Bank (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Advances From Federal Home Loan Banks [Abstract] | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | At year-end, advances from the FHLB were as follows: Weighted Average Advance Interest Principal Terms Amount Range of Maturities Rate (In Thousands) December 31, 2016 Putable advances $ 5,000 March 2018 2.35 % Single maturity fixed rate advances 92,000 November 2017 to March 2022 1.34 % Amortizable mortgage advances 6,943 September 2018 1.78 % $ 103,943 December 31, 2015 Putable advances $ 5,000 March 2018 2.35 % Single maturity fixed rate advances 47,000 December 2017 to March 2022 1.51 % Amortizable mortgage advances 7,902 December 2017 to October 2021 1.78 % $ 59,902 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Estimated future minimum payments by fiscal year based on maturity date and current interest rates are as follows (In Thousands): 2017 $ 32,306 2018 24,853 2019 15,637 2020 21,283 2021 10,143 Thereafter 3,162 Total minimum payments 107,384 Less amounts representing interest (3,441) Totals $ 103,943 |
Junior Subordinated Debenture45
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust [Abstract] | |
Schedule of Subordinated Borrowing [Table Text Block] | Junior subordinated debentures owed to the following affiliates were as follows: December 31 2016 2015 (In Thousands) First Defiance Statutory Trust I due December 2035 $ 20,619 $ 20,619 First Defiance Statutory Trust II due June 2037 15,464 15,464 Total junior subordinated debentures owed to unconsolidated subsidiary Trusts $ 36,083 $ 36,083 |
Securities Sold Under Agreeme46
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings [Abstract] | |
Securities Sold Under Agreements To Repurchase [Table Text Block] | Total securities sold under agreement to repurchase are summarized as follows: Years Ended December 31 2016 2015 (In Thousands, Except Percentages) Securities sold under agreement to repurchase Amounts outstanding at year-end $ 31,816 $ 57,188 Year-end interest rate 0.22 % 0.27 % Average daily balance during year 52,821 54,632 Maximum month-end balance during the year 57,984 60,272 Average interest rate during the year 0.26 % 0.28 % |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of December 31, 2016 and 2015 is presented in the following tables. Greater Overnight and Up to 30 than 90 Continuous Days 30-90 Days Days Total At December 31, 2016 (In Thousands) Repurchase agreements: Mortgage-backed securities residential $ 21,222 $ - $ - $ - $ 21,222 Collateralized mortgage obligations 10,594 - - - 10,594 Total borrowings $ 31,816 $ - $ - $ - $ 31,816 Gross amount of recognized liabilities for repurchase agreements $ 31,816 Greater Overnight and Up to 30 than 90 Continuous Days 30-90 Days Days Total At December 31, 2015 (In Thousands) Repurchase agreements: Mortgage-backed securities residential $ 23,998 $ - $ - $ - $ 23,998 Collateralized mortgage obligations 33,190 - - - 33,190 Total borrowings $ 57,188 $ - $ - $ - $ 57,188 Gross amount of recognized liabilities for repurchase agreements $ 57,188 |
Other Noninterest Expense (Tabl
Other Noninterest Expense (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Expense, Nonoperating [Abstract] | |
Other Non Interest Expense [Table Text Block] | The following is a summary of other noninterest expense: Years Ended December 31 2016 2015 2014 (In Thousands) Legal and other professional fees $ 2,902 $ 3,359 $ 3,622 Marketing 1,835 1,752 1,820 State financial institutions tax 1,781 1,783 1,762 REO expenses and write-downs 244 1,064 743 Printing and office supplies 512 457 466 Amortization of intangibles 535 699 1,102 Postage 456 459 594 Check charge-offs and fraud losses 266 207 142 Credit and collection expense 303 334 395 Other 7,118 (1) 5,402 6,611 (2) Total other noninterest expense $ 15,952 $ 15,516 $ 17,257 1) Includes $ 443,000 300,000 2) Includes $ 786,000 |
Postretirement Benefits (Tables
Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | Included in accumulated other comprehensive income at December 31, 2016, 2015 and 2014 are the following amounts that have not yet been recognized in net periodic benefit cost: December 31 2016 2015 2014 (In Thousands) Unrecognized prior service cost $ 52 $ 53 $ 65 Unrecognized actuarial losses 392 593 832 Total recognized in Accumulated Other Comprehensive Income 444 646 897 Income tax effect (155) (226) (314) Net amount recognized in Accumulated Other Comprehensive Income $ 289 $ 420 $ 583 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The following table summarizes benefit obligation and plan asset activity for the plan measured as of December 31 each year: December 31 2016 2015 (In Thousands) Change in benefit obligation: Benefit obligation at beginning of year $ 3,115 $ 3,263 Service cost 53 65 Interest cost 128 130 Participant contribution 29 27 Plan amendments for acquisitions 12 - Actuarial (gains) / losses (184) (204) Benefits paid (168) (166) Benefit obligation at end of year 2,985 3,115 Change in fair value of plan assets: Balance at beginning of year - - Employer contribution 139 139 Participant contribution 29 27 Benefits paid (168) (166) Balance at end of year - - Funded status at end of year $ (2,985) $ (3,115) |
Schedule of Net Benefit Costs [Table Text Block] | Net periodic postretirement benefit cost includes the following components: Years Ended December 31 2016 2015 2014 (In Thousands) Service cost-benefits attributable to service during the period $ 53 $ 65 $ 63 Interest cost on accumulated postretirement benefit obligation 128 130 136 Net amortization and deferral 30 47 35 Net periodic postretirement benefit cost 211 242 234 Net (gain) / loss during the year (184) (204) 377 Plan amendment for acquisition 12 - - Amortization of prior service cost and actuarial losses (30) (47) (35) Total recognized in comprehensive income (202) (251) 342 Total recognized in net periodic postretirement benefit cost and other comprehensive income $ 9 $ (9) $ 576 |
Assumptions Are Used In Determining Components Of Postretirement Benefit Obligation [Table Text Block] | The following assumptions were used in determining the components of the postretirement benefit obligation: 2016 2015 2014 Weighted average discount rates: Used to determine benefit obligations at December 31 4.00 % 4.25 % 4.25 % Used to determine net periodic postretirement benefit cost for years ended December 31 4.25 % 4.25 % 4.75 % Assumed health care cost trend rates at December 31: Health care cost trend rate assumed for next year 7.50 % 6.50 % 7.00 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % 5.00 % 5.00 % Year that rate reaches ultimate trend rate 2022 2019 2019 |
Schedule of Expected Benefit Payments [Table Text Block] | The following benefits are expected to be paid over the next five years and in aggregate for the next five years thereafter. Because the plan is unfunded, the expected net benefits to be paid and the estimated Company contributions are the same amount. Expected to be Paid (In Thousands) 2017 $ 160 2018 173 2019 182 2020 197 2021 180 2022 through 2026 1,035 |
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | A one-percentage-point change in assumed health care cost trend rates would have the following effect: One-Percentage-Point One-Percentage-Point Increase Decrease Year Ended December 31 Year Ended December 31 2016 2015 2016 2015 (In Thousands) Effect on total of service and interest cost $ 27 $ 27 $ (22) $ (22) Effect on postretirement benefit obligation 369 376 (314) (320) |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Regulatory Capital Requirements [Abstract] | |
Computation of Net Capital under Securities and Exchange Commission Regulation [Table Text Block] | The following schedule presents First Defiance consolidated and First Federal’s regulatory capital ratios as of December 31, 2016 and 2015 (Dollars in Thousands): December 31, 2016 Actual Minimum Required for Minimum Required for Well Amount Ratio Amount Ratio (1) Amount Ratio CET1 Capital (to Risk-Weighted Assets) (2) Consolidated $ 234,809 10.45 % $ 101,108 4.5 % N/A N/A First Federal $ 242,928 10.81 % $ 101,116 4.5 % $ 146,057 6.5 % Tier 1 Capital (1) Consolidated $ 269,809 11.24 % $ 95,975 4.0 % N/A N/A First Federal $ 242,928 10.14 % $ 95,791 4.0 % $ 119,739 5.0 % Tier 1 Capital (to Risk Weighted Assets) (1) Consolidated $ 269,809 12.01 % $ 134,811 6.0 % N/A N/A First Federal $ 242,928 10.81 % $ 134,822 6.0 % $ 179,763 8.0 % Total Capital (to Risk Weighted Assets) (1) Consolidated $ 295,693 13.16 % $ 179,748 8.0 % N/A N/A First Federal $ 268,812 11.96 % $ 179,763 8.0 % $ 224,703 10.0 % (1) Excludes capital conservation buffer of 0.625 (2) Core capital is computed as a percentage of adjusted total assets of $ 2.40 2.39 2.25 December 31, 2015 Actual Minimum Required for Minimum Required for Well Amount Ratio Amount Ratio Amount Ratio CET1 Capital (to Risk-Weighted Assets) (1) Consolidated $ 218,297 10.71 % $ 91,710 4.5 % N/A N/A First Federal $ 236,625 11.61 % $ 91,678 4.5 % $ 132,424 6.5 % Tier 1 Capital (1) Consolidated $ 253,297 11.46 % $ 88,424 4.0 % N/A N/A First Federal $ 236,625 10.72 % $ 88,267 4.0 % $ 110,334 5.0 % Tier 1 Capital (to Risk Weighted Assets) (1) Consolidated $ 253,297 12.43 % $ 122,280 6.0 % N/A N/A First Federal $ 236,625 11.61 % $ 122,237 6.0 % $ 162,983 8.0 % Total Capital (to Risk Weighted Assets) (1) Consolidated $ 278,679 13.67 % $ 163,040 8.0 % N/A N/A First Federal $ 262,007 12.86 % $ 162,983 8.0 % $ 203,729 10.0 % (1) Core capital is computed as a percentage of adjusted total assets of $ 2.21 2.04 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of income tax expense are as follows: Years Ended December 31 2016 2015 2014 (In Thousands) Current: Federal $ 13,125 $ 11,299 $ 9,198 State and local 244 146 144 Deferred (615) (35) (179) $ 12,754 $ 11,410 $ 9,163 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The effective tax rates differ from federal statutory rate applied to income before income taxes due to the following: Years Ended December 31 2016 2015 2014 (In Thousands) Tax expense at statutory rate (35%) $ 14,559 $ 13,240 $ 11,709 Increases (decreases) in taxes from: State income tax net of federal tax benefit 159 95 94 Tax exempt interest income, net of TEFRA (1,168) (1,219) (1,152) Bank owned life insurance (341) (255) (816) Captive insurance (414) (415) (390) Other (41) (36) (282) Totals $ 12,754 $ 11,410 $ 9,163 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of First Defiance’s deferred federal income tax assets and liabilities are as follows: December 31 2016 2015 (In Thousands) Deferred federal income tax assets: Allowance for loan losses $ 9,059 $ 8,884 Postretirement benefit costs 1,044 1,316 Deferred compensation 1,847 1,621 Impaired loans 1,087 261 Accrued vacation 454 644 Allowance for real estate held for sale losses 226 269 Deferred loan origination fees and costs 462 388 Accrued bonus 626 675 Other 1,554 794 Total deferred federal income tax assets 16,359 14,852 Deferred federal income tax liabilities: FHLB stock dividends 2,279 2,279 Goodwill 5,967 5,527 Mortgage servicing rights 3,358 3,237 Fixed assets 1,217 1,268 Other intangible assets 301 422 Loan mark to market 59 165 Net unrealized gains on available-for-sale securities 272 2,176 Prepaid expenses 694 655 Total deferred federal income tax liabilities 14,147 15,729 Net deferred federal income tax asset/ (liability) $ 2,212 $ (877) |
Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (In Thousands): Balance at January 1, 2014 $ - Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years - Reductions due to the statute of limitations - Settlements - Balance at December 31, 2014 $ - Balance at January 1, 2015 $ - Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years - Reductions due to the statute of limitations - Settlements - Balance at December 31, 2015 $ - Balance at January 1, 2016 $ - Additions based on tax positions related to the current year - Additions for tax positions of prior years 398 Reductions for tax positions of prior years - Reductions due to the statute of limitations - Settlements - Balance at December 31, 2016 $ 398 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair value of stock options granted was determined at the date of grant using the Black-Scholes stock option-pricing model and the following assumptions: Twelve Months Ended December 31, December 31, 2016 2015 Expected average risk-free rate 2.05% 2.04% Expected average life 8.96 years 10.00 years Expected volatility 41.00% 42.00% Expected dividend yield 2.33% 2.10% |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Following is activity under the plans during 2016: Stock options: Weighted Average Aggregate Weighted Remaining Intrinsic Options Average Contractual Value Outstanding Exercise Price Term (in years) (in 000’s) Options outstanding, January 1, 2016 86,220 $ 20.27 Forfeited or cancelled - - Exercised (37,970) 20.47 Granted 6,500 37.78 Options outstanding, December 31, 2016 54,750 $ 22.21 3.51 $ 1,562 Vested or expected to vest at December 31, 2016 54,750 $ 22.21 3.51 $ 1,562 Exercisable at December 31, 2016 38,300 $ 17.86 1.57 $ 1,259 |
Schedule Of Share Based Compensation Stock Options Plans [Table Text Block] | Information related to the stock option plans follows: Year Ended December 31 2016 2015 2014 (In Thousands, except per share amounts) Intrinsic value of options exercised $ 752 $ 1,069 $ 542 Cash received from option exercises 714 1,469 963 Tax benefit realized from option exercises 165 160 103 Weighted average fair value of options granted $ 13.95 $ 13.13 $ 10.79 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Total expense of $ 1.3 1.1 541,000 773,000 556,000 Restricted Stock Units Stock Grants Weighted-Average Weighted-Average Grant Date Grant Date Unvested Shares Shares Fair Value Shares Fair Value Unvested at January 1, 2016 74,545 $ 25.86 10,927 $ 30.98 Granted 24,526 39.30 10,905 23.39 Vested (7,011) 19.19 (10,171) 24.02 Forfeited (16,592) 19.19 (500) 32.00 Unvested at December 31, 2016 75,468 $ 32.31 11,161 $ 32.30 |
Parent Company Statements (Tabl
Parent Company Statements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | Condensed parent company financial statements, which include transactions with subsidiaries, follow: December 31 Statements of Financial Condition 2016 2015 (In Thousands) Assets Cash and cash equivalents $ 23,017 $ 12,919 Investment in banking subsidiary 290,053 287,436 Investment in non-bank subsidiaries 15,456 15,109 Other assets 1,155 1,191 Total assets $ 329,681 $ 316,655 Liabilities and stockholders’ equity: Subordinated debentures $ 36,083 $ 36,083 Accrued liabilities 580 375 Stockholders’ equity 293,018 280,197 Total liabilities and stockholders’ equity $ 329,681 $ 316,655 |
Condensed Income Statement [Table Text Block] | Years Ended December 31 Statements of Income 2016 2015 2014 (In Thousands) Dividends from subsidiaries $ 24,200 $ 30,900 $ 22,200 Interest on investments - 1 - Interest expense (753) (613) (587) Other income - 1 2 Noninterest expense (644) (588) (861) Income before income taxes and equity in earnings of subsidiaries 22,803 29,701 20,754 Income tax credit (466) (397) (485) Income before equity in earnings of subsidiaries 23,269 30,098 21,239 (Distributions in excess of) undistributed equity in earnings of subsidiaries 5,574 (3,675) 3,053 Net income $ 28,843 $ 26,423 $ 24,292 Comprehensive income $ 25,436 $ 25,931 $ 27,861 |
Condensed Cash Flow Statement [Table Text Block] | Years Ended December 31 Statements of Cash Flows 2016 2015 2014 (In Thousands) Operating activities: Net income $ 28,843 $ 26,423 $ 24,292 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Distribution in excess of (undistributed equity in) earnings of subsidiaries (5,574) 3,675 (3,053) Change in other assets and liabilities 235 (205) 59 Net cash provided by (used in) operating activities 23,504 29,893 21,298 Financing activities: Repurchase of common stock (6,293) (8,436) (15,519) Cash dividends paid (7,890) (7,159) (5,937) Stock Options Exercised 714 1,469 921 Direct stock sales 63 64 76 Repayment of stock warrants - (11,979) - Net cash used in financing activities (13,406) (26,041) (20,459) Net increase (decrease) in cash and cash equivalents 10,098 3,852 839 Cash and cash equivalents at beginning of year 12,919 9,067 8,228 Cash and cash equivalents at end of year $ 23,017 $ 12,919 $ 9,067 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table summarizes the financial assets measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured on a Recurring Basis Level 1 Level 2 Level 3 Total Fair December 31, 2016 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 3,915 $ - $ 3,915 Mortgage-backed - residential - 81,707 - 81,707 REMICs - 1,307 - 1,307 Collateralized mortgage obligations - 63,005 - 63,005 Preferred stock 2 - - 2 Corporate bonds - 13,013 - 13,013 Obligations of state and political subdivisions - 88,043 88,043 Mortgage banking derivative - asset - 491 - 491 Level 1 Level 2 Level 3 Total Fair December 31, 2015 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 2,994 $ - $ 2,994 Mortgage-backed - residential - 64,654 - 64,654 REMICs - 1,620 - 1,620 Collateralized mortgage obligations - 71,799 - 71,799 Preferred stock 1 - - 1 Corporate bonds - 4,977 - 4,977 Obligations of state and political subdivisions - 90,390 90,390 Mortgage banking derivative - asset - 558 - 558 |
Schedule of Fair Value, Assets Measured on Non Recurring Basis [Table Text Block] | The following table summarizes the financial assets measured at fair value on a non-recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured on a Non-Recurring Basis Total Fair December 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 316 $ 316 Multi Family Residential - - - - Commercial Real Estate - - 848 848 Commercial 332 332 Home Equity and Improvement - - - - Total impaired loans - - 1,496 1,496 Mortgage servicing rights - 657 - 657 Real estate held for sale Residential - - - - CRE - - 377 377 Total Real Estate held for sale - - 377 377 Total Fair December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 398 $ 398 Multi Family Residential - - 91 91 Commercial Real Estate - - 4,575 4,575 Commercial - - Home Equity and Improvement - - 82 82 Total impaired loans - - 5,146 5,146 Mortgage servicing rights - 872 - 872 Real estate held for sale Residential - - - - CRE - - 280 280 Total Real Estate held for sale - - 280 280 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 1,496 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11 % Real estate held for sale Applies to all classes $ 377 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 0-20 % 7 % For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows: Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,146 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11 % Real estate held for sale CRE $ 280 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 30 % 30 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | FHLB advances with maturities greater than 90 days are valued based on discounted cash flow analysis, using interest rates currently being quoted for similar characteristics and maturities resulting in a Level 2 classification. The cost or value of any call or put options is based on the estimated cost to settle the option at December 31, 2016. Fair Value Measurements at December 31, 2016 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 99,003 $ 99,003 $ 99,003 $ - $ - Investment securities 251,176 251,179 2 251,177 - Federal Home Loan Bank Stock 13,798 N/A N/A N/A N/A Loans, net, including loans held for sale 1,924,210 1,911,280 - 9,917 1,901,363 Accrued interest receivable 6,760 6,760 9 867 5,884 Financial Liabilities: Deposits $ 1,981,628 $ 1,987,723 $ 487,663 $ 1,500,060 $ - Advances from Federal Home Loan Bank 103,943 103,019 - 103,019 - Securities sold under repurchase agreements 31,816 31,816 - 31,816 - Subordinated debentures 36,083 34,718 - - 34,718 Fair Value Measurements at December 31, 2015 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 79,769 $ 79,769 $ 79,769 $ - $ - Investment securities 236,678 236,680 1 236,679 - Federal Home Loan Bank Stock 13,801 N/A N/A N/A N/A Loans, net, including loans held for sale 1,782,358 1,784,998 - 5,899 1,779,099 Accrued interest receivable 6,171 6,171 7 846 5,318 Financial Liabilities: Deposits $ 1,836,137 $ 1,840,464 $ 420,691 $ 1,419,773 $ - Advances from Federal Home Loan Bank 59,902 59,653 - 59,653 - Securities sold under repurchase agreements 57,188 57,188 - 57,188 - Subordinated debentures 36,083 35,305 - - 35,305 |
Derivative Financial Instrume54
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position Carrying Value [Table Text Block] | The fair value of these mortgage banking derivatives are reflected by a derivative asset or a derivative liability. The table below provides data about the carrying values of these derivative instruments: December 31, 2016 December 31, 2015 Assets (Liabilities) Assets (Liabilities) Derivative Derivative Carrying Carrying Net Carrying Carrying Carrying Net Carrying Value Value Value Value Value Value (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives $ 491 $ - $ 491 $ 558 $ - $ 558 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The table below provides data about the amount of gains and losses recognized in income on derivative instruments not designated as hedging instruments: Twelve Months Ended December 31, 2016 2015 2014 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ (67) $ 231 $ 27 |
Quarterly Consolidated Result55
Quarterly Consolidated Results of Operations (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | The following is a summary of the quarterly consolidated results of operations: Three Months Ended March 31 June 30 September 30 December 31 (In Thousands, Except Per Share Amounts) 2016 Interest income $ 21,130 $ 21,480 $ 22,003 $ 22,770 Interest expense 1,942 2,084 2,183 2,231 Net interest income 19,188 19,396 19,820 20,539 Provision for loan losses 364 53 15 (149) Net interest income after provision for loan losses 18,824 19,343 19,805 20,688 Gain on sale, call or write-down of securities 131 227 151 - Noninterest income 8,505 8,348 8,375 8,293 Noninterest expense 17,274 17,347 18,292 18,180 Income before income taxes 10,186 10,571 10,039 10,801 Income taxes 3,017 3,307 2,994 3,436 Net income $ 7,169 $ 7,264 $ 7,045 $ 7,365 Earnings per common share: Basic $ 0.80 $ 0.81 $ 0.78 $ 0.82 Diluted $ 0.80 $ 0.80 $ 0.78 $ 0.81 Average shares outstanding: Basic 8,994 8,968 8,976 8,969 Diluted 9,064 9,036 9,050 9,035 Three Months Ended March 31 June 30 September 30 December 31 (In Thousands, Except Per Share Amounts) 2015 Interest income $ 19,757 $ 20,037 $ 20,266 $ 20,776 Interest expense 1,567 1,672 1,733 1,809 Net interest income 18,190 18,365 18,533 18,967 Provision for loan losses 120 - (27) 43 Net interest income after provision for loan losses 18,070 18,365 18,560 18,924 Gain on sale, call or write-down of securities - - - 22 Noninterest income 8,281 7,809 7,982 7,709 Noninterest expense 16,897 16,796 16,848 17,348 Income before income taxes 9,454 9,378 9,694 9,307 Income taxes 2,853 2,815 2,998 2,744 Net income $ 6,601 $ 6,563 $ 6,696 $ 6,563 Earnings per common share: Basic $ 0.71 $ 0.71 $ 0.72 $ 0.72 Diluted $ 0.69 $ 0.70 $ 0.72 $ 0.71 Average shares outstanding: Basic 9,234 9,268 9,238 9,146 Diluted 9,611 9,349 9,322 9,235 |
Other Comprehensive Income (L56
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | |
Other Comprehensive Income Loss Reclassification Adjustments Related To Securities Available For Sale [Table Text Block] | The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below. Reclassification adjustments related to securities available for sale are included in gains on sale or call of securities in the accompanying consolidated condensed statements of income. Reclassification adjustments related to the defined benefit postretirement medical plan are included in compensation and benefits in the accompanying consolidated condensed statements of income. Before Tax Tax Expense Net of Tax Amount (Benefit) Amount Twelve months ended December 31, 2016: (In Thousands) Securities available for sale and transferred securities: Change in net unrealized gain/(loss) during the period $ (4,933) $ (1,726) $ (3,207) Reclassification adjustment for net gains included in net income (509) (178) (331) Defined benefit postretirement medical plan: Net gain on defined benefit postretirement medical plan realized during the period 172 60 112 Reclassification adjustment for net amortization and deferral on defined benefit postretirement medical plan (included in compensation and benefits) 30 11 19 Total other comprehensive income $ (5,240) $ (1,833) $ (3,407) Before Tax Tax Expense Net of Tax Amount (Benefit) Amount Twelve months ended December 31, 2015: (In Thousands) Securities available for sale and transferred securities: Change in net unrealized gain/(loss) during the period $ (985) $ (345) $ (640) Reclassification adjustment for net gains included in net income (22) (7) (15) Defined benefit postretirement medical plan: Net gain on defined benefit postretirement medical plan realized during the period 204 72 132 Reclassification adjustment for net amortization and deferral on defined benefit postretirement medical plan (included in compensation and benefits) 47 16 31 Total other comprehensive income $ (756) $ (264) $ (492) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Activity in accumulated other comprehensive income (loss), net of tax, was as follows: Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (In Thousands) Balance January 1, 2016 $ 4,042 $ (420) $ 3,622 Other comprehensive income before reclassifications (3,207) 112 (3,095) Amounts reclassified from accumulated other comprehensive loss (331) 19 (312) Net other comprehensive income during period (3,538) 131 (3,407) Balance December 31, 2016 $ 504 $ (289) $ 215 Balance January 1, 2015 $ 4,697 $ (583) $ 4,114 Other comprehensive income before reclassifications (640) 132 (508) Amounts reclassified from accumulated other comprehensive loss (15) 31 16 Net other comprehensive income during period (655) 163 (492) Balance December 31, 2015 $ 4,042 $ (420) $ 3,622 |
Statement of Accounting Polic57
Statement of Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Buildings and improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 50 years |
Buildings and improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 20 years |
Furniture, fixtures and equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 15 years |
Furniture, fixtures and equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Statement of Accounting Polic58
Statement of Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Cash and Due From Banks | $ 53,003,000 | $ 38,769,000 | |
Amortization Of Mortgage Servicing Rights Excluding Valuation Adjustments | $ 3,600,000 | $ 3,500,000 | $ 3,600,000 |
Percentage Of Revenue | 9.20% | ||
Percentage Of Consolidated Net Income | 4.90% | ||
Percentage Of Assets | 0.60% | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% |
Federal Reserve [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Cash and Due From Banks | $ 1,896,000 | ||
FHLB of Cincinnati [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance Of Stock | 13,800,000 | ||
FHLB of Indianapolis [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance Of Stock | 5,000 | ||
Federal Home Loan Bank [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Cash and Due From Banks | $ 1,809,000 | ||
Core Deposit and Customer Relationship [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 20 years | ||
Core Deposit and Customer Relationship [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years |
Acquisitions_Subsequent Event (
Acquisitions/Subsequent Event (Details Textual) $ / shares in Units, $ in Thousands, shares in Millions | 1 Months Ended | 12 Months Ended | ||||
Feb. 24, 2017USD ($)shares | Aug. 23, 2016USD ($)$ / shares | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Aug. 22, 2016$ / shares | |
Payments to Acquire Businesses, Gross | $ 0 | $ 297 | $ 0 | |||
Commercial Bancshares, Inc [Member] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.1808 | |||||
Business Combination Consideration Transferred,Cash Per Share | $ / shares | $ 51 | |||||
Business Combination Consideration Transferred In Shares,Percentage | 80.00% | |||||
Business Combination Consideration Transferred In Cash,Percentage | 20.00% | |||||
Business Combination,Closing Price Per Share | $ / shares | $ 43.19 | |||||
Business Combination, Consideration Transferred | $ 63,000 | |||||
BusinessCombination ,Payment For Cancellation Of Options | $ 1,500 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 356,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 297,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Deposit | $ 314,000 | |||||
Business Acquisition, Date of Acquisition Agreement | Aug. 23, 2016 | |||||
Commercial Bancshares, Inc [Member] | Subsequent Event [Member] | ||||||
Business Combination, Consideration Transferred | $ 0 | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 0 | |||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 0 | |||||
Payments to Acquire Businesses, Gross | 0 | |||||
Business Acquisition Goodwill Not Expected Tax Deductible Amount | $ 19,400 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Basic Earnings Per Share: | |||||||||||
Net income available to common shareholders | $ 7,365 | $ 7,045 | $ 7,264 | $ 7,169 | $ 6,563 | $ 6,696 | $ 6,563 | $ 6,601 | $ 28,843 | $ 26,423 | $ 24,292 |
Less: Income allocated to participating securities | 39 | 8 | 4 | ||||||||
Net income allocated to common shareholders | $ 28,804 | $ 26,415 | $ 24,288 | ||||||||
Weighted average common shares outstanding Including participating securities | 8,980 | 9,221 | 9,511 | ||||||||
Less: Participating securities | 11 | 11 | 6 | ||||||||
Average common shares | 8,969,000 | 8,976 | 8,968 | 8,994 | 9,146 | 9,238 | 9,268 | 9,234 | 8,969 | 9,210 | 9,505 |
Basic earnings per common share | $ 0.82 | $ 0.78 | $ 0.81 | $ 0.80 | $ 0.72 | $ 0.72 | $ 0.71 | $ 0.71 | $ 3.21 | $ 2.87 | $ 2.55 |
Diluted Earnings Per Share: | |||||||||||
Net income allocated to common shareholders | $ 28,804 | $ 26,415 | $ 24,288 | ||||||||
Weighted average common shares outstanding for basic earnings per common share | 9,035,000 | 9,050 | 9,036 | 9,064 | 9,235 | 9,322 | 9,349 | 9,611 | 8,969 | 9,210 | 9,505 |
Add: Dilutive effects of stock options | 66 | 87 | 111 | ||||||||
Add: Dilutive effects of warrants | 0 | 75 | 353 | ||||||||
Average shares and dilutive potential common shares | 9,035 | 9,371 | 9,969 | ||||||||
Diluted earnings per common share | $ 0.81 | $ 0.78 | $ 0.80 | $ 0.80 | $ 0.71 | $ 0.72 | $ 0.70 | $ 0.69 | $ 3.19 | $ 2.82 | $ 2.44 |
Earnings Per Common Share (De61
Earnings Per Common Share (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 9,035 | 9,371 | 9,969 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | $ 250,216 | $ 230,218 |
Available-for-Sale Securities, Gross Unrealized Gains | 3,402 | 6,655 |
Available-for-Sale Securities, Gross Unrealized Losses | (2,626) | (438) |
Available-for-Sale Securities, Fair Value | 250,992 | 236,435 |
Held-to-Maturity | ||
Held-to-Maturity Securities, Amortized Cost | 184 | 243 |
Held-to-Maturity Securities, Gross Unrealized Gains | 3 | 3 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | (1) |
Held-to-Maturity Securities, Fair Value | 187 | 245 |
Obligations of U.S. government corporations and agencies [Member] | ||
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | 4,000 | 3,000 |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 1 |
Available-for-Sale Securities, Gross Unrealized Losses | (85) | (7) |
Available-for-Sale Securities, Fair Value | 3,915 | 2,994 |
Mortgage-backed securities - residential [Member] | ||
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | 82,619 | 63,815 |
Available-for-Sale Securities, Gross Unrealized Gains | 390 | 898 |
Available-for-Sale Securities, Gross Unrealized Losses | (1,302) | (59) |
Available-for-Sale Securities, Fair Value | 81,707 | 64,654 |
REMICs [Member] | ||
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | 1,309 | 1,592 |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 28 |
Available-for-Sale Securities, Gross Unrealized Losses | (2) | 0 |
Available-for-Sale Securities, Fair Value | 1,307 | 1,620 |
Collateralized mortgage obligations [Member] | ||
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | 63,204 | 71,176 |
Available-for-Sale Securities, Gross Unrealized Gains | 422 | 976 |
Available-for-Sale Securities, Gross Unrealized Losses | (621) | (353) |
Available-for-Sale Securities, Fair Value | 63,005 | 71,799 |
Preferred stock [Member] | ||
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | 0 | 0 |
Available-for-Sale Securities, Gross Unrealized Gains | 2 | 1 |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-Sale Securities, Fair Value | 2 | 1 |
Corporate bonds [Member] | ||
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | 12,919 | 4,955 |
Available-for-Sale Securities, Gross Unrealized Gains | 97 | 39 |
Available-for-Sale Securities, Gross Unrealized Losses | (3) | (17) |
Available-for-Sale Securities, Fair Value | 13,013 | 4,977 |
Obligations of state and political subdivisions [Member] | ||
Available-for-sale | ||
Available-for-Sale Securities, Amortized Cost | 86,165 | 85,680 |
Available-for-Sale Securities, Gross Unrealized Gains | 2,491 | 4,712 |
Available-for-Sale Securities, Gross Unrealized Losses | (613) | (2) |
Available-for-Sale Securities, Fair Value | 88,043 | 90,390 |
Held-to-Maturity | ||
Held-to-Maturity Securities, Amortized Cost | 93 | 124 |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity Securities, Fair Value | 93 | 124 |
FHLMC certificates [Member] | ||
Held-to-Maturity | ||
Held-to-Maturity Securities, Amortized Cost | 12 | 14 |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity Securities, Fair Value | 12 | 14 |
FNMA certificates [Member] | ||
Held-to-Maturity | ||
Held-to-Maturity Securities, Amortized Cost | 56 | 74 |
Held-to-Maturity Securities, Gross Unrealized Gains | 2 | 2 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | (1) |
Held-to-Maturity Securities, Fair Value | 58 | 75 |
GNMA certificates [Member] | ||
Held-to-Maturity | ||
Held-to-Maturity Securities, Amortized Cost | 23 | 31 |
Held-to-Maturity Securities, Gross Unrealized Gains | 1 | 1 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity Securities, Fair Value | $ 24 | $ 32 |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale, Due in one year or less, Amortized Cost | $ 577 | |
Available-for-sale, Due after one year through five years, Amortized Cost | 21,850 | |
Available-for-sale, Due after five years through ten years, Amortized Cost | 41,311 | |
Available-for-sale, Due after ten years, Amortized Cost | 39,346 | |
Available-for-sale, MBS, Amortized Cost | 147,132 | |
Available-for-sale, Amortized Cost | 250,216 | |
Available-for-sale, Due in one year or less, Fair Value | 586 | |
Available-for-sale, Due after one year through five years, Fair Value | 22,136 | |
Available-for-sale, Due after five years through ten years, Fair Value | 42,784 | |
Available-for-sale, Due after ten years, Fair Value | 39,467 | |
Available-for-sale, MBS, Fair Value | 146,019 | |
Available-for-sale, Fair Value | 250,992 | $ 236,435 |
Held-to-maturity Securities, Due in one year or less, Amortized Cost | 93 | |
Held-to-maturity, MBS, Amortized Cost | 91 | |
Held-to-maturity, Amortized Cost | 184 | 243 |
Held-to-maturity Securities, Due after one year through five years, Fair Value | 93 | |
Held-to-maturity, MBS, Fair Value | 94 | |
Held-to-maturity, Fair Value | $ 187 | $ 245 |
Investment Securities (Detail64
Investment Securities (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Held to maturity securities: | ||
Total temporarily impaired securities, Duration Unrealized Loss Position, Less Than Twelve Months, Fair Value | $ 117,013 | $ 26,888 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Less Than 12 Months, Gross Unrealized Loss | (2,568) | (234) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,224 | 8,591 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Gross Unrealized Loss | (58) | (205) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Fair Value | 119,238 | 35,479 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Unrealized Loss | (2,626) | (439) |
FNMA certificates [Member] | ||
Held to maturity securities: | ||
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than Twelve Months, Fair Value | 13 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than 12 Months, Gross Unrealized Loss | (1) | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, 12 Months or Longer, Gross Unrealized Loss | 0 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Fair Value | 13 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Gross Unrealized Loss | (1) | |
Collateralized mortgage obligations [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 28,882 | 12,374 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (566) | (150) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 1,227 | 8,158 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (55) | (203) |
Available-for-sale securities, Total, Fair Value | 30,110 | 20,532 |
Available-for-sale securities, Total, Unrealized Loss | (621) | (353) |
Corporate bonds [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 0 | 983 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | 0 | (17) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 997 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (3) | 0 |
Available-for-sale securities, Total, Fair Value | 997 | 983 |
Available-for-sale securities, Total, Unrealized Loss | (3) | (17) |
Obligations of state and political subdivisions [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 19,172 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (613) | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 433 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | (2) |
Available-for-sale securities, Total, Fair Value | 19,172 | 433 |
Available-for-sale securities, Total, Unrealized Loss | (613) | (2) |
Mortgage-backed securities - residential [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 63,736 | 12,525 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (1,302) | (59) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | 0 |
Available-for-sale securities, Total, Fair Value | 63,736 | 12,525 |
Available-for-sale securities, Total, Unrealized Loss | (1,302) | (59) |
REMICs [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 1,308 | |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (2) | |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | |
Available-for-sale securities, Total, Fair Value | 1,308 | |
Available-for-sale securities, Total, Unrealized Loss | (2) | |
Obligations of U.S. government corporations and agencies [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 3,915 | 993 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (85) | (7) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | 0 |
Available-for-sale securities, Total, Fair Value | 3,915 | 993 |
Available-for-sale securities, Total, Unrealized Loss | $ (85) | $ (7) |
Investment Securities (Detail65
Investment Securities (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Beginning balance, January 1 | $ 0 | $ 0 | $ 3,513 |
Additions for amounts related to credit loss for which an OTTI was not previously recognized | 0 | 0 | 0 |
Reductions for amounts realized for securities sold/redeemed during the period | 0 | 0 | (3,513) |
Ending balance, December 31 | $ 0 | $ 0 | $ 0 |
Investment Securities (Detail66
Investment Securities (Details 4) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Proceeds | $ 14,871 | $ 426 | $ 14,913 |
Gross realized gains | 509 | 22 | 1,574 |
Gross realized losses | $ 0 | $ 0 | $ (642) |
Investment Securities (Detail67
Investment Securities (Details Textual) | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Security Owned and Pledged as Collateral Carrying Value | $ 142,600,000 | $ 134,800,000 | |
Investment Portfolio, Number of Securities | 383 | ||
Investment Portfolio, Number of Securities, Unrealized Loss | 117 | ||
Realized Investment Gains (Losses) | $ 509,000 | 22,000 | $ 932,000 |
Realized Investment Gains Losses, Net of Tax | 331,000 | 15,000 | $ 652,000 |
Other Comprehensive Income (Loss), before Tax | $ (5,240,000) | $ (756,000) | |
Investment Portfolio Single Security | 10.00% | ||
Collateralized Debt Obligations [Member] | |||
Other Comprehensive Income (Loss), before Tax | $ 0 |
Commitments and Contingent Li68
Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fixed Rate, Commitments to make loans | $ 34,432 | $ 80,862 |
Fixed Rate, Unused lines of credit | 14,384 | 31,991 |
Fixed Rate, Standby letters of credit | 0 | 0 |
Fixed Rate, Total | 48,816 | 112,853 |
Variable Rate, Commitments to make loans | 106,356 | 76,253 |
Variable Rate, Unused lines of credit | 400,542 | 323,171 |
Variable Rate, Standby letters of credit | 9,668 | 19,632 |
Variable Rate, Total | $ 516,566 | $ 419,056 |
Commitments and Contingent Li69
Commitments and Contingent Liabilities (Details Textual) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Line of Credit Facility, Period | 22.5 |
Commitments and Loans, Available to Sell | $ 22.5 |
Loan Commitments Maturities Range Description | less than 1 year to 30 years. |
Maximum [Member] | |
Loan Commitments Interest Rate | 18.00% |
Minimum [Member] | |
Loan Commitments Interest Rate | 2.63% |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Real Estate: | ||||
Real Estate | $ 1,430,998 | $ 1,317,635 | ||
Other Loans: | ||||
Total loans | 2,035,162 | 1,870,227 | ||
Deduct: | ||||
Undisbursed loan funds | (93,355) | (66,902) | ||
Net deferred loan origination fees and costs | (1,320) | (1,108) | ||
Allowance for loan loss | (25,884) | (25,382) | $ (24,766) | $ (24,950) |
Totals | 1,914,603 | 1,776,835 | ||
Other Loans [Member] | ||||
Other Loans: | ||||
Total loans | 604,164 | 552,592 | ||
One to Four Family Residential Real Estate [Member] | ||||
Real Estate: | ||||
Real Estate | 207,550 | 205,330 | ||
Multi Family Residential [Member] | ||||
Real Estate: | ||||
Real Estate | 196,983 | 167,558 | ||
Commercial Real Estate [Member] | ||||
Real Estate: | ||||
Real Estate | 843,579 | 780,870 | ||
Construction Loans [Member] | ||||
Real Estate: | ||||
Real Estate | 182,886 | 163,877 | ||
Commercial Loan [Member] | ||||
Other Loans: | ||||
Total loans | 469,055 | 419,349 | ||
Home Equity and Home Improvement [Member] | ||||
Other Loans: | ||||
Total loans | 118,429 | 116,962 | ||
Consumer finance [Member] | ||||
Other Loans: | ||||
Total loans | $ 16,680 | $ 16,281 |
Loans (Details 1)
Loans (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | $ 25,382 | $ 24,766 | $ 24,950 |
Charge-Offs | (1,419) | (1,221) | (4,859) |
Recoveries | 1,638 | 1,701 | 3,558 |
Provisions | 283 | 136 | 1,117 |
Ending Allowance | 25,884 | 25,382 | 24,766 |
One to Four Family Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | 3,212 | 2,494 | 2,847 |
Charge-Offs | (350) | (283) | (426) |
Recoveries | 166 | 214 | 188 |
Provisions | (401) | 787 | (115) |
Ending Allowance | 2,627 | 3,212 | 2,494 |
Multi Family Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | 2,151 | 2,453 | 2,508 |
Charge-Offs | 0 | (114) | 0 |
Recoveries | 0 | 0 | 7 |
Provisions | 77 | (188) | (62) |
Ending Allowance | 2,228 | 2,151 | 2,453 |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | 11,772 | 11,268 | 12,000 |
Charge-Offs | (92) | (353) | (1,018) |
Recoveries | 923 | 915 | 2,670 |
Provisions | (1,978) | (58) | (2,384) |
Ending Allowance | 10,625 | 11,772 | 11,268 |
Construction Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | 517 | 221 | 134 |
Charge-Offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provisions | (67) | 296 | 87 |
Ending Allowance | 450 | 517 | 221 |
Commercial Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | 5,255 | 6,509 | 5,678 |
Charge-Offs | (615) | (68) | (2,982) |
Recoveries | 335 | 331 | 435 |
Provisions | 2,386 | (1,517) | 3,378 |
Ending Allowance | 7,361 | 5,255 | 6,509 |
Home Equity and Improvement [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | 2,304 | 1,704 | 1,635 |
Charge-Offs | (268) | (350) | (392) |
Recoveries | 150 | 188 | 193 |
Provisions | 200 | 762 | 268 |
Ending Allowance | 2,386 | 2,304 | 1,704 |
Consumer Finance [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Allowance | 171 | 117 | 148 |
Charge-Offs | (94) | (53) | (41) |
Recoveries | 64 | 53 | 65 |
Provisions | 66 | 54 | (55) |
Ending Allowance | $ 207 | $ 171 | $ 117 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | $ 809 | $ 437 |
Collectively evaluated for impairment | 25,075 | 24,945 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 25,884 | 25,382 |
Loans: | ||
Loans individually evaluated for impairment | 27,433 | 42,049 |
Loans collectively evaluated for impairment | 1,918,926 | 1,765,317 |
Loans acquired with deteriorated credit quality | 11 | 169 |
Total ending loans balance | 1,946,370 | 1,807,535 |
One to Four Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 202 | 201 |
Collectively evaluated for impairment | 2,425 | 3,011 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,627 | 3,212 |
Loans: | ||
Loans individually evaluated for impairment | 6,898 | 7,574 |
Loans collectively evaluated for impairment | 200,907 | 198,106 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 207,805 | 205,680 |
Multi Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 4 | 0 |
Collectively evaluated for impairment | 2,224 | 2,151 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,228 | 2,151 |
Loans: | ||
Loans individually evaluated for impairment | 3,483 | 3,313 |
Loans collectively evaluated for impairment | 193,714 | 164,382 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 197,197 | 167,695 |
Commercial Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 255 | 139 |
Collectively evaluated for impairment | 10,370 | 11,633 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 10,625 | 11,772 |
Loans: | ||
Loans individually evaluated for impairment | 13,570 | 23,493 |
Loans collectively evaluated for impairment | 832,446 | 759,281 |
Loans acquired with deteriorated credit quality | 0 | 153 |
Total ending loans balance | 846,016 | 782,927 |
Construction Loans [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 450 | 517 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 450 | 517 |
Loans: | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 89,244 | 96,845 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 89,244 | 96,845 |
Commercial Loan [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 35 | 63 |
Collectively evaluated for impairment | 7,326 | 5,192 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 7,361 | 5,255 |
Loans: | ||
Loans individually evaluated for impairment | 2,154 | 6,107 |
Loans collectively evaluated for impairment | 468,246 | 414,527 |
Loans acquired with deteriorated credit quality | 11 | 16 |
Total ending loans balance | 470,411 | 420,650 |
Home Equity and Home Improvement [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 313 | 34 |
Collectively evaluated for impairment | 2,073 | 2,270 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,386 | 2,304 |
Loans: | ||
Loans individually evaluated for impairment | 1,269 | 1,491 |
Loans collectively evaluated for impairment | 117,744 | 115,977 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 119,013 | 117,468 |
Consumer Finance [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 207 | 171 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 207 | 171 |
Loans: | ||
Loans individually evaluated for impairment | 59 | 71 |
Loans collectively evaluated for impairment | 16,625 | 16,199 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | $ 16,684 | $ 16,270 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | $ 32,833 | $ 51,783 | $ 50,254 |
Interest Income Recognized | 1,675 | 1,309 | 1,603 |
Cash Basis Income Recognized | 1,558 | 1,270 | 1,600 |
Residential Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 3,954 | 6,985 | 6,177 |
Interest Income Recognized | 244 | 246 | 317 |
Cash Basis Income Recognized | 237 | 244 | 313 |
Residential Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 3,133 | 5,444 | 3,920 |
Interest Income Recognized | 211 | 152 | 143 |
Cash Basis Income Recognized | 210 | 152 | 143 |
Total Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 7,087 | 12,429 | 10,097 |
Interest Income Recognized | 455 | 398 | 460 |
Cash Basis Income Recognized | 447 | 396 | 456 |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 0 | 50 | 233 |
Interest Income Recognized | 0 | 2 | 12 |
Cash Basis Income Recognized | 0 | 2 | 15 |
Multi Family Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 3,946 | 3,799 | 903 |
Interest Income Recognized | 124 | 40 | 4 |
Cash Basis Income Recognized | 123 | 40 | 4 |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 6,925 | 9,019 | 8,906 |
Interest Income Recognized | 203 | 168 | 145 |
Cash Basis Income Recognized | 183 | 167 | 142 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 5,351 | 10,125 | 18,164 |
Interest Income Recognized | 411 | 349 | 807 |
Cash Basis Income Recognized | 407 | 348 | 809 |
Agriculture Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 2,283 | 2,980 | 611 |
Interest Income Recognized | 128 | 88 | 14 |
Cash Basis Income Recognized | 68 | 56 | 14 |
Commercial Real Estate Other Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 1,632 | 3,554 | 1,694 |
Interest Income Recognized | 71 | 81 | 20 |
Cash Basis Income Recognized | 70 | 80 | 22 |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 16,191 | 25,678 | 29,375 |
Interest Income Recognized | 813 | 686 | 986 |
Cash Basis Income Recognized | 728 | 651 | 987 |
Commercial Working Capital [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 1,606 | 2,217 | 2,790 |
Interest Income Recognized | 109 | 58 | 29 |
Cash Basis Income Recognized | 90 | 56 | 29 |
Commercial Loans Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 2,393 | 4,773 | 4,576 |
Interest Income Recognized | 81 | 49 | 14 |
Cash Basis Income Recognized | 79 | 49 | 12 |
Commercial Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 3,999 | 6,990 | 7,366 |
Interest Income Recognized | 190 | 107 | 43 |
Cash Basis Income Recognized | 169 | 115 | 41 |
Home Equity and Improvement [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 1,543 | 2,757 | 2,233 |
Interest Income Recognized | 85 | 62 | 95 |
Cash Basis Income Recognized | 83 | 62 | 94 |
Consumer Finance [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Balance | 67 | 80 | 47 |
Interest Income Recognized | 8 | 14 | 3 |
Cash Basis Income Recognized | $ 8 | $ 14 | $ 3 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | $ 19,828 | $ 33,510 |
Recorded Investment, With no allowance | 18,701 | 32,747 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 9,796 | 10,360 |
Recorded Investment, With an Allowance | 8,732 | 9,302 | |
Allowance for Loan Losses Allocated, With an Allowance | 809 | 437 | |
Residential Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,912 | 1,383 |
Recorded Investment, With no allowance | 1,765 | 1,360 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 2,348 | 2,918 |
Recorded Investment, With an Allowance | 2,319 | 2,837 | |
Allowance for Loan Losses Allocated, With an Allowance | 157 | 188 | |
Residential Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,691 | 2,147 |
Recorded Investment, With no allowance | 1,683 | 2,141 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,137 | 1,231 |
Recorded Investment, With an Allowance | 1,131 | 1,236 | |
Allowance for Loan Losses Allocated, With an Allowance | 45 | 13 | |
One To Four Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,603 | 3,530 |
Recorded Investment, With no allowance | 3,448 | 3,501 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,485 | 4,149 |
Recorded Investment, With an Allowance | 3,450 | 4,073 | |
Allowance for Loan Losses Allocated, With an Allowance | 202 | 201 | |
Multi Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,578 | 3,463 |
Recorded Investment, With no allowance | 3,430 | 3,313 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 53 | 0 |
Recorded Investment, With an Allowance | 53 | 0 | |
Allowance for Loan Losses Allocated, With an Allowance | 4 | 0 | |
Commercial Real Estate Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,652 | 4,869 |
Recorded Investment, With no allowance | 2,353 | 4,520 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 2,362 | 3,250 |
Recorded Investment, With an Allowance | 1,894 | 2,767 | |
Allowance for Loan Losses Allocated, With an Allowance | 102 | 132 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,372 | 7,932 |
Recorded Investment, With no allowance | 4,240 | 7,685 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,618 | 385 |
Recorded Investment, With an Allowance | 1,479 | 308 | |
Allowance for Loan Losses Allocated, With an Allowance | 108 | 2 | |
Agriculture Land [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,695 | 3,546 |
Recorded Investment, With no allowance | 1,722 | 3,596 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 45 | 68 |
Recorded Investment, With an Allowance | 45 | 69 | |
Allowance for Loan Losses Allocated, With an Allowance | 3 | 2 | |
Commercial Real Estate Other Receivables [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,225 | 4,076 |
Recorded Investment, With no allowance | 1,115 | 4,046 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,144 | 926 |
Recorded Investment, With an Allowance | 722 | 502 | |
Allowance for Loan Losses Allocated, With an Allowance | 42 | 3 | |
Commercial Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 9,944 | 20,423 |
Recorded Investment, With no allowance | 9,430 | 19,847 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 5,169 | 4,629 |
Recorded Investment, With an Allowance | 4,140 | 3,646 | |
Allowance for Loan Losses Allocated, With an Allowance | 255 | 139 | |
Construction [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 0 | 0 |
Recorded Investment, With no allowance | 0 | 0 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 0 | 0 |
Recorded Investment, With an Allowance | 0 | 0 | |
Allowance for Loan Losses Allocated, With an Allowance | 0 | 0 | |
Commercial Working Capital [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 838 | 1,644 |
Recorded Investment, With no allowance | 786 | 1,648 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 230 | 594 |
Recorded Investment, With an Allowance | 231 | 596 | |
Allowance for Loan Losses Allocated, With an Allowance | 24 | 62 | |
Commercial Loans Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,179 | 3,573 |
Recorded Investment, With no allowance | 967 | 3,607 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 167 | 252 |
Recorded Investment, With an Allowance | 170 | 256 | |
Allowance for Loan Losses Allocated, With an Allowance | 11 | 1 | |
Commercial Loan [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,017 | 5,217 |
Recorded Investment, With no allowance | 1,753 | 5,255 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 397 | 846 |
Recorded Investment, With an Allowance | 401 | 852 | |
Allowance for Loan Losses Allocated, With an Allowance | 35 | 63 | |
Home Equity and Improvement [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 631 | 817 |
Recorded Investment, With no allowance | 585 | 772 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 688 | 724 |
Recorded Investment, With an Allowance | 684 | 719 | |
Allowance for Loan Losses Allocated, With an Allowance | 313 | 34 | |
Consumer Finance [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 55 | 60 |
Recorded Investment, With no allowance | 55 | 59 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 4 | 12 |
Recorded Investment, With an Allowance | 4 | 12 | |
Allowance for Loan Losses Allocated, With an Allowance | $ 0 | $ 0 | |
[1] | Presented gross of charge offs |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 14,348 | $ 16,261 |
Loans over 90 days past due and still accruing | 0 | 0 |
Total non-performing loans | 14,348 | 16,261 |
Real estate and other assets held for sale | 455 | 1,321 |
Total non-performing assets | 14,803 | 17,582 |
Troubled debt restructuring, still accruing | $ 10,544 | $ 11,178 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | $ 1,939,921 | $ 1,795,545 |
Total Past Due | 6,449 | 11,990 |
Total Non Accrual | 14,346 | 16,262 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,615 | 2,291 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,421 | 2,494 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,413 | 7,205 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 139,015 | 138,974 |
Total Past Due | 1,442 | 1,223 |
Total Non Accrual | 1,931 | 1,428 |
Residential Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 56 | 159 |
Residential Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 842 | 673 |
Residential Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 544 | 391 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 66,811 | 64,577 |
Total Past Due | 537 | 906 |
Total Non Accrual | 992 | 1,179 |
Residential Non Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 166 | 324 |
Residential Non Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 308 | 356 |
Residential Non Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 63 | 226 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 205,826 | 203,551 |
Total Past Due | 1,979 | 2,129 |
Total Non Accrual | 2,923 | 2,607 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 222 | 483 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,150 | 1,029 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 607 | 617 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 197,197 | 165,671 |
Total Past Due | 0 | 2,024 |
Total Non Accrual | 2,637 | 2,417 |
Multi Family Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Multi Family Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Multi Family Residential Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 2,024 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 340,233 | 322,940 |
Total Past Due | 1,475 | 3,256 |
Total Non Accrual | 3,098 | 4,141 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 79 | 772 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 1,218 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,396 | 1,266 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 338,724 | 304,166 |
Total Past Due | 523 | 644 |
Total Non Accrual | 1,808 | 1,229 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 81 | 0 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 16 | 106 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 426 | 538 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 102,397 | 98,055 |
Total Past Due | 0 | 57 |
Total Non Accrual | 755 | 695 |
Agriculture Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 57 |
Agriculture Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Agriculture Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 62,415 | 53,494 |
Total Past Due | 249 | 315 |
Total Non Accrual | 1,292 | 1,364 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 249 | 315 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 843,769 | 778,655 |
Total Past Due | 2,247 | 4,272 |
Total Non Accrual | 6,953 | 7,429 |
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 160 | 829 |
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 16 | 1,324 |
Commercial Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,071 | 2,119 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 89,244 | 96,845 |
Total Past Due | 0 | 0 |
Total Non Accrual | 0 | 0 |
Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 202,786 | 168,938 |
Total Past Due | 48 | 170 |
Total Non Accrual | 435 | 251 |
Commercial Working Capital [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 16 |
Commercial Working Capital [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 10 | 0 |
Commercial Working Capital [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 38 | 154 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 267,189 | 249,070 |
Total Past Due | 388 | 2,472 |
Total Non Accrual | 577 | 2,833 |
Commercial Loans Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 23 | 203 |
Commercial Loans Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 46 |
Commercial Loans Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 365 | 2,223 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 469,975 | 418,008 |
Total Past Due | 436 | 2,642 |
Total Non Accrual | 1,012 | 3,084 |
Commercial Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 23 | 219 |
Commercial Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 10 | 46 |
Commercial Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 403 | 2,377 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 16,452 | 16,216 |
Total Past Due | 232 | 54 |
Total Non Accrual | 91 | 36 |
Consumer Finance [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 85 | 27 |
Consumer Finance [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 69 | 3 |
Consumer Finance [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 78 | 24 |
Home Equity and Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 117,458 | 116,599 |
Total Past Due | 1,555 | 869 |
Total Non Accrual | 730 | 689 |
Home Equity and Improvement [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,125 | 733 |
Home Equity and Improvement [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 176 | 92 |
Home Equity and Improvement [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 254 | $ 44 |
Loans (Details 7)
Loans (Details 7) - TDRs [Member] $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)Number | Dec. 31, 2015USD ($)Number | Dec. 31, 2014USD ($)Number | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 44 | 43 | 67 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 5,632 | $ 3,363 | $ 6,532 |
Residential Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 17 | 6 | 18 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 778 | $ 454 | $ 1,726 |
Residential Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 5 | 4 | 3 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 494 | $ 59 | $ 517 |
Multi Family Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 2 | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 1,885 | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 2 | 2 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 645 | $ 27 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 5 | 2 | 3 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 974 | $ 244 | $ 403 |
Agriculture Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 1 | 3 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 45 | $ 1,443 | $ 0 |
Commercial Real Estate Other Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 1 | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 348 | $ 0 | $ 0 |
Other Commercial Working Capital [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 1 | 2 | 4 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 226 | $ 62 | $ 1,353 |
Commercial Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 1 | 2 | 16 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 587 | $ 70 | $ 2,020 |
Home Equity and Home Improvement [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 9 | 13 | 17 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 281 | $ 324 | $ 471 |
Consumer Finance [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings, Number of Loans | Number | 2 | 9 | 4 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 14 | $ 62 | $ 15 |
Loans (Details 8)
Loans (Details 8) - Subsequently Defaulted [Member] $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)NumbersNumber | Dec. 31, 2015USD ($)NumbersNumber | Dec. 31, 2014USD ($)Number | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 7 | 9 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 205 | $ 1,933 | $ 1,991 |
Residential Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 80 |
Residential Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 178 |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 205 | $ 0 | $ 0 |
Agriculture Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Other Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 0 |
Commercial Working Capital [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 1 | 2 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 120 | $ 868 |
Commercial Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 5 | 5 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 1,791 | $ 865 |
Home Equity and Home Improvement [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 1 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 22 | $ 0 |
Consumer Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 0 |
Loans (Details 9)
Loans (Details 9) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 1,946,370 | $ 1,807,535 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,585,391 | 1,437,217 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 40,005 | 31,858 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 27,348 | 49,280 |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 293,626 | 289,180 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 140,456 | 140,198 |
Residential Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,980 | 5,828 |
Residential Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 402 | 123 |
Residential Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,824 | 2,427 |
Residential Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Residential Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 132,250 | 131,820 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 67,349 | 65,482 |
Residential Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 58,041 | 55,169 |
Residential Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,394 | 1,420 |
Residential Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,480 | 4,439 |
Residential Non Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Residential Non Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,434 | 4,454 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 207,805 | 205,680 |
One To Four Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 64,021 | 60,997 |
One To Four Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,796 | 1,543 |
One To Four Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,304 | 6,866 |
One To Four Family Residential Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
One To Four Family Residential Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 136,684 | 136,274 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 197,197 | 167,695 |
Multi Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 192,369 | 163,405 |
Multi Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 862 | 498 |
Multi Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,852 | 3,675 |
Multi Family Residential Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Multi Family Residential Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 114 | 117 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 341,708 | 326,196 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 316,335 | 297,856 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 20,559 | 17,896 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,430 | 9,730 |
Commercial Real Estate Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 384 | 714 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 339,248 | 304,810 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 332,196 | 293,057 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,617 | 2,143 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,435 | 9,595 |
Commercial Real Estate Non Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Non Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 15 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 102,396 | 98,112 |
Agriculture Land [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 98,039 | 92,262 |
Agriculture Land [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,355 | 1,947 |
Agriculture Land [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,002 | 3,903 |
Agriculture Land [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Agriculture Land [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 62,664 | 53,809 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 59,561 | 47,109 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 60 | 469 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,297 | 5,739 |
Commercial Real Estate Other Receivable [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 746 | 492 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 846,016 | 782,927 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 806,131 | 730,284 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 24,591 | 22,455 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 14,164 | 28,967 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,130 | 1,221 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 89,244 | 96,845 |
Construction Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 67,751 | 76,152 |
Construction Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 706 | 2,159 |
Construction Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Construction Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Construction Loans [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 20,787 | 18,534 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 202,834 | 169,108 |
Commercial Working Capital [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 193,043 | 163,071 |
Commercial Working Capital [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 8,301 | 2,497 |
Commercial Working Capital [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,490 | 3,540 |
Commercial Working Capital [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Working Capital [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 267,577 | 251,542 |
Commercial Loans Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 262,076 | 243,308 |
Commercial Loans Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,749 | 2,706 |
Commercial Loans Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,752 | 5,528 |
Commercial Loans Other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loans Other [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 470,411 | 420,650 |
Commercial Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 455,119 | 406,379 |
Commercial Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 12,050 | 5,203 |
Commercial Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,242 | 9,068 |
Commercial Loan [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loan [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 119,013 | 117,468 |
Home Equity and Home Improvement [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 696 | 689 |
Home Equity and Home Improvement [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 118,317 | 116,779 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 16,684 | 16,270 |
Consumer Finance [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 90 | 15 |
Consumer Finance [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 16,594 | $ 16,255 |
Loans (Details 10)
Loans (Details 10) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||
Beginning Balance Contractual Amount Receivable | $ 1,870,227 | $ 1,870,227 | |||||||||
Ending Balance Contractual Amount Receivable | $ 2,035,162 | $ 1,870,227 | 2,035,162 | $ 1,870,227 | |||||||
Additional provision for loan loss Recorded Loan Receivable | 149 | $ (15) | $ (53) | (364) | (43) | $ 27 | $ 0 | $ (120) | (283) | (136) | $ (1,117) |
Loans and Debt Securities Acquired With Deteriorated Credit Quality [Member] | |||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||
Beginning Balance Contractual Amount Receivable | 362 | 413 | 362 | 413 | 503 | ||||||
Principal payments received Contractual Amount Receivable | (261) | (51) | (90) | ||||||||
Loans charged off Contractual Amount Receivable | (35) | 0 | 0 | ||||||||
Additional provision for loan loss Contractual Amount Receivable | 0 | 0 | 0 | ||||||||
Loan accretion recorded Contractual Amount Receivable | 0 | 0 | 0 | ||||||||
Ending Balance Contractual Amount Receivable | 66 | 362 | 66 | 362 | 413 | ||||||
Beginning Balance Impairment Discount | 193 | 227 | 193 | 227 | 273 | ||||||
Principal payments received Impairment Discount | 0 | 0 | 0 | ||||||||
Loans charged off Impairment Discount | (35) | 0 | 0 | ||||||||
Additional provision for loan loss Impairment Discount | 0 | 0 | 0 | ||||||||
Loan accretion recorded Impairment Discount | (103) | (34) | (46) | ||||||||
Ending Balance Impairment Discount | 55 | 193 | 55 | 193 | 227 | ||||||
Beginning Balance Recorded Loan Receivable | $ 169 | $ 186 | 169 | 186 | 230 | ||||||
Principal payments received Recorded Loan Receivable | (261) | (51) | (90) | ||||||||
Loans charged off Recorded Loan Receivable | 0 | 0 | 0 | ||||||||
Additional provision for loan loss Recorded Loan Receivable | 0 | 0 | 0 | ||||||||
Loan accretion recorded Recorded Loan Receivable | 103 | 34 | 46 | ||||||||
Ending Balance Recorded Loan Receivable | $ 11 | $ 169 | $ 11 | $ 169 | $ 186 |
Loans (Details 11)
Loans (Details 11) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $ 7,349 | $ 5,888 |
New loans | 4,783 | 5,822 |
Effect of changes in composition of related parties | 12,320 | (54) |
Repayments | (8,253) | (4,307) |
Ending Balance | $ 16,199 | $ 7,349 |
Loans (Details Textual)
Loans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $ 413,000 | $ 13,000 | $ 234,000 |
Troubled Debt Restructuring [Member] | |||
Financing Receivable, Modifications, Recorded Investment | 16,800,000 | 17,600,000 | |
Specified Reserves, Provision for Troubled Debt Restructurings | 809,000 | 335,000 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | 20,000 | $ 48,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 6,200,000 | ||
Troubled Debt Restructuring [Member] | Subsequently Defaulted [Member] | |||
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | 14,000 | ||
Loan And Lease Losses Charged Off | $ 176,000 |
Mortgage Banking (Details)
Mortgage Banking (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||
Gain from sale of mortgage loans | $ 5,311 | $ 4,564 | $ 3,335 |
Mortgage loans servicing revenue (expense): | |||
Mortgage loans servicing revenue | 3,560 | 3,503 | 3,552 |
Amortization of mortgage servicing rights | (1,724) | (1,620) | (1,401) |
Mortgage servicing rights valuation adjustments | 123 | 266 | 116 |
Mortgage loans servicing revenue (expense), Total | 1,959 | 2,149 | 2,267 |
Net revenue from sale and servicing of mortgage loans | $ 7,270 | $ 6,713 | $ 5,602 |
Mortgage Banking (Details 1)
Mortgage Banking (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Mortgage servicing assets: | |||
Balance at beginning of period | $ 9,893 | $ 9,923 | $ 10,133 |
Loans sold, servicing retained | 1,948 | 1,590 | 1,191 |
Amortization | (1,724) | (1,620) | (1,401) |
Carrying value before valuation allowance at end of period | 10,117 | 9,893 | 9,923 |
Valuation allowance: | |||
Balance at beginning of period | (645) | (911) | (1,027) |
Impairment recovery (charges) | 123 | 266 | 116 |
Balance at end of period | (522) | (645) | (911) |
Net carrying value of MSRs at end of period | 9,595 | 9,248 | 9,012 |
Fair value of MSRs at end of period | $ 9,770 | $ 9,802 | $ 9,304 |
Mortgage Banking (Details 2)
Mortgage Banking (Details 2) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)Number | Dec. 31, 2015USD ($)Number | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Mortgage Loans On Banking Number Of Loans | Number | 14,350 | 14,258 |
Investor, Principal Outstanding | $ | $ 1,372,018 | $ 1,343,722 |
Fannie Mae [Member] | ||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Mortgage Loans On Banking Number Of Loans | Number | 5,004 | 5,104 |
Investor, Principal Outstanding | $ | $ 470,692 | $ 484,155 |
Freddie Mac [Member] | ||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Mortgage Loans On Banking Number Of Loans | Number | 9,229 | 9,015 |
Investor, Principal Outstanding | $ | $ 889,280 | $ 845,564 |
Federal Home Loan Bank Borrowings [Member] | ||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Mortgage Loans On Banking Number Of Loans | Number | 101 | 118 |
Investor, Principal Outstanding | $ | $ 11,081 | $ 12,605 |
Other Mortgage Banking [Member] | ||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Mortgage Loans On Banking Number Of Loans | Number | 16 | 21 |
Investor, Principal Outstanding | $ | $ 965 | $ 1,398 |
Mortgage Banking (Details 3)
Mortgage Banking (Details 3) $ in Thousands | Dec. 31, 2016USD ($) |
10% Adverse Change [Member] | |
Assumption: | |
Decline in fair value from increase in prepayment rate | $ 243 |
Decline in fair value from increase in discount rate | 311 |
20% Adverse Change [Member] | |
Assumption: | |
Decline in fair value from increase in prepayment rate | 475 |
Decline in fair value from increase in discount rate | $ 612 |
Mortgage Banking (Details Textu
Mortgage Banking (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||
Residential Mortgage Loans, Unpaid Balance | $ 1,370,000,000 | $ 1,340,000,000 | |
Escrow Deposit | $ 12,600,000 | $ 11,600,000 | |
Weighted Average Discount Rate | 12.01% | 10.02% | |
Adverse Changes In Fair Value One | 10.00% | ||
Adverse Changes In Fair Value Two | 20.00% | ||
Secondary Market Buy Back Expense | $ (135,000) | $ (95,000) | $ 298,000 |
Accrued Liabilities and Other Liabilities | $ 79,000 | $ 214,000 |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Cost: | ||
Land | $ 7,534 | $ 7,494 |
Land improvements | 1,310 | 1,310 |
Buildings | 41,895 | 41,556 |
Leasehold improvements | 971 | 971 |
Furniture, fixtures and equipment | 31,253 | 29,622 |
Construction in process | 787 | 656 |
Property, Plant and Equipment, Gross | 83,750 | 81,609 |
Less allowances for depreciation and amortization | (46,792) | (43,443) |
Property, Plant and Equipment, Net | $ 36,958 | $ 38,166 |
Premises and Equipment (Detai89
Premises and Equipment (Details 1) $ in Thousands | Dec. 31, 2016USD ($) |
Property, Plant and Equipment [Line Items] | |
2,017 | $ 584 |
2,018 | 400 |
2,019 | 337 |
2,020 | 265 |
2,021 | 222 |
Thereafter | 2,654 |
Total | $ 4,462 |
Premises and Equipment (Detai90
Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 3,356,000 | $ 3,267,000 | $ 2,952,000 |
Operating Leases, Rent Expense, Net | $ 571,000 | $ 601,000 | $ 653,000 |
Goodwill and Intangible Asset91
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Indefinite-lived Intangible Assets [Line Items] | ||
Beginning balance | $ 61,798 | $ 61,525 |
Goodwill acquired or adjusted during the year | 0 | 273 |
Ending balance | $ 61,798 | $ 61,798 |
Goodwill and Intangible Asset92
Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Indefinite-lived Intangible Assets [Line Items] | |||
Begnning Balance, Gross Carrying Amount | $ 14,477 | $ 14,302 | $ 14,302 |
Amortization of intangible assets, Gross Carrying Amount | 0 | 0 | 0 |
Intangible assets acquired, Gross Carrying Amount | 175 | ||
Ending Balance, Gross Carrying Amount | 14,477 | 14,477 | 14,302 |
Beginning Balance, Accumulated Amortization | (12,606) | (11,907) | (10,805) |
Amortization of intangible assets, Accumulated Amortization | (535) | (699) | (1,102) |
Intangible assets acquired, Accumulated Amortization | 0 | ||
Ending Balance, Accumulated Amortization | (13,141) | (12,606) | (11,907) |
Beginning Balance, Net Value | 1,871 | 2,395 | 3,497 |
Amortization of Intangible Assets, Net Value | (535) | (699) | (1,102) |
Intangible assets acquired, Net Value | 175 | ||
Ending Balance, Net Value | $ 1,336 | $ 1,871 | $ 2,395 |
Goodwill and Intangible Asset93
Goodwill and Intangible Assets (Details 2) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Indefinite-lived Intangible Assets [Line Items] | ||||
2,017 | $ 404 | |||
2,018 | 332 | |||
2,019 | 225 | |||
2,020 | 149 | |||
2,021 | 87 | |||
Thereafter | 139 | |||
Total | $ 1,336 | $ 1,871 | $ 2,395 | $ 3,497 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Deposits [Line Items] | |||
Checking and money market accounts | $ 1,463 | $ 1,186 | $ 1,236 |
Savings accounts | 88 | 89 | 90 |
Certificates of deposit | 4,710 | 4,066 | 3,957 |
Totals | $ 6,261 | $ 5,341 | $ 5,283 |
Deposits (Details 1)
Deposits (Details 1) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Line Items] | ||
Non-interest bearing checking accounts | $ 487,663 | $ 420,691 |
Interest bearing checking and money market accounts | 816,665 | 767,201 |
Savings deposits | 243,369 | 219,655 |
Retail certificates of deposit less than $250,000 | 400,080 | 403,902 |
Retail certificates of deposit greater than $250,000 | 33,851 | 24,688 |
Total | $ 1,981,628 | $ 1,836,137 |
Deposits (Details 2)
Deposits (Details 2) $ in Thousands | Dec. 31, 2016USD ($) |
Deposits [Line Items] | |
2,017 | $ 156,767 |
2,018 | 117,627 |
2,019 | 78,750 |
2,020 | 35,298 |
2,021 | 45,489 |
Thereafter | 0 |
Total | $ 433,931 |
Deposits (Details Textual)
Deposits (Details Textual) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deposit [Line Items] | ||
Accounts Payable | $ 42,000 | $ 43,000 |
Certificates of Deposit, at Carrying Value | 19,000 | 25,000 |
Money Market Funds, at Carrying Value | $ 23,000 | $ 18,000 |
Advances from Federal Home Lo98
Advances from Federal Home Loan Bank (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Putable advances | $ 5,000 | $ 5,000 |
Single maturity fixed rate advances | 92,000 | 47,000 |
Amortizable mortgage advances | 6,943 | 7,902 |
Totals | $ 103,943 | $ 59,902 |
March 2018 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 2.35% | 2.35% |
November 2017 to March 2022 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 1.34% | |
December 2017 to March 2022 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 1.51% | |
September 2018 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 1.78% | |
December 2017 to October 2021 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 1.78% |
Advances from Federal Home Lo99
Advances from Federal Home Loan Bank (Details 1) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Future Minimum Lease Payments For Capital Leases [Line Items] | ||
2,017 | $ 32,306 | |
2,018 | 24,853 | |
2,019 | 15,637 | |
2,020 | 21,283 | |
2,021 | 10,143 | |
Thereafter | 3,162 | |
Total minimum payments | 107,384 | |
Less amounts representing interest | (3,441) | |
Totals | $ 103,943 | $ 59,902 |
Advances from Federal Home L100
Advances from Federal Home Loan Bank (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Pledged Assets Separately Reported, Loans Pledged as Collateral, at Fair Value, Total | $ 843.8 | $ 692.2 |
Proceeds From First Federal Home Loan Bank Advances | $ 448.9 | |
Percentage Of Advances Secured Collateral Pledged | 50.00% | |
Securities Investment [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Percentage Of Advances Secured Collateral Pledged | 105.00% | |
Residential Mortgage [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Percentage Of Advances Secured Collateral Pledged | 125.00% | |
Multi Family or Non Residential Real Estate Loans, and Agriculture Real Estate Loans [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Percentage Of Advances Secured Collateral Pledged | 300.00% | |
One to Four Family Residential Mortgages or Investment Securities [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Percentage Of Advances Secured Collateral Pledged | 50.00% | |
Cash Management Advance [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Line of Credit, Current | $ 15 | |
Repo Advance [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Line of Credit, Current | $ 100 |
Junior Subordinated Debentur101
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $ 36,083 | $ 36,083 |
First Defiance Statutory Trusts I [Member] | ||
Debt Instrument [Line Items] | ||
Junior subordinated debentures owed to unconsolidated subsidiary trusts | 20,619 | 20,619 |
First Defiance Statutory Trusts II [Member] | ||
Debt Instrument [Line Items] | ||
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $ 15,464 | $ 15,464 |
Junior Subordinated Debentur102
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2007 | Dec. 31, 2016 | Dec. 31, 2015 | |
First Defiance Statutory Trusts I [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from Issuance of Trust Preferred Securities | $ 20 | ||
Proceeds from Issuance of Subordinated Long-term Debt | $ 20.6 | ||
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.38% | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Description | The Trust Preferred Securities and Subordinated Debentures mature on December 15, 2035, but can be redeemed at the Company’s option at any time now. | ||
Coupon Rate On Preferred Securities, Period End | 2.34% | 1.89% | |
First Defiance Statutory Trusts II [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from Issuance of Trust Preferred Securities | $ 15 | ||
Proceeds from Issuance of Subordinated Long-term Debt | $ 15.5 | ||
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.5% | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Description | The Trust Preferred Securities and Subordinated Debentures mature on June 15, 2037, but can be redeemed at the Company’s option at any time now. | ||
Coupon Rate On Preferred Securities, Period End | 2.46% | 2.01% |
Securities Sold Under Agreem103
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | $ 31,816 | $ 57,188 |
Year-end interest rate | 0.22% | 0.27% |
Average daily balance during year | $ 52,821 | $ 54,632 |
Maximum month-end balance during the year | $ 57,984 | $ 60,272 |
Average interest rate during the year | 0.26% | 0.28% |
Securities Sold Under Agreem104
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings (Details 1) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | $ 31,816 | $ 57,188 |
Gross amount of recognized liabilities for repurchase agreements | 31,816 | 57,188 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 10,594 | 33,190 |
Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 21,222 | 23,998 |
Maturity Overnight [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 31,816 | 57,188 |
Maturity Overnight [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 10,594 | 33,190 |
Maturity Overnight [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 21,222 | 23,998 |
Maturity Less than 30 Days [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Less than 30 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Less than 30 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity 30 to 90 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity 30 to 90 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Greater than 90 Days [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Greater than 90 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Greater than 90 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | $ 0 | $ 0 |
Securities Sold Under Agreem105
Securities Sold Under Agreements to Repurchase and Other Short Term Borrowings (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 29, 2016 | |
Short Term Debt Fed Funds Rate | 0.75% | |
First Tennessee Bank [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20 | |
MUFG Union Bank [Member] | ||
Line of Credit, Current | $ 20 | |
Federal Reserve Bank Discount [Member] | ||
Line of Credit, Current | $ 11.2 | |
Short-term Debt, Terms | 50 basis points over the fed funds rate |
Other Noninterest Expense (Deta
Other Noninterest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Other Noninterest Expense [Line Items] | |||||
Legal and other professional fees | $ 2,902 | $ 3,359 | $ 3,622 | ||
Marketing | 1,835 | 1,752 | 1,820 | ||
State financial institutions tax | 1,781 | 1,783 | 1,762 | ||
REO expenses and write-downs | 244 | 1,064 | 743 | ||
Printing and office supplies | 512 | 457 | 466 | ||
Amortization of intangibles | 535 | 699 | 1,102 | ||
Postage | 456 | 459 | 594 | ||
Check charge-offs and fraud losses | 266 | 207 | 142 | ||
Credit and collection expense | 303 | 334 | 395 | ||
Other | 7,118 | [1] | 5,402 | 6,611 | [2] |
Total other noninterest expense | $ 15,952 | $ 15,516 | $ 17,257 | ||
[1] | Includes $443,000 of acquisition related expenses and $300,000 of costs associated with termination of a lease agreement. | ||||
[2] | Includes $786,000 of costs associated with the termination of First Federal’s merger agreement with FCB. |
Other Noninterest Expense (D107
Other Noninterest Expense (Details Textual) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Other Non-Interest Expense [Line Items] | |
Business Combination, Acquisition Related Costs | $ 443,000 |
Lease agreement termination Costs | 300,000 |
FCB [Member] | |
Other Non-Interest Expense [Line Items] | |
Business Combination, Acquisition Related Costs | $ 786,000 |
Postretirement Benefits (Detail
Postretirement Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized prior service cost | $ 52 | $ 53 | $ 65 |
Unrecognized actuarial losses | 392 | 593 | 832 |
Total recognized in Accumulated Other Comprehensive Income | 444 | 646 | 897 |
Income tax effect | (155) | (226) | (314) |
Net amount recognized in Accumulated Other Comprehensive Income | $ 289 | $ 420 | $ 583 |
Postretirement Benefits (Det109
Postretirement Benefits (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Change in benefit obligation: | |||
Benefit obligation at beginning of year | $ 3,115 | $ 3,263 | |
Service cost | 53 | 65 | $ 63 |
Interest cost | 128 | 130 | 136 |
Participant contribution | 29 | 27 | |
Plan amendments for acquisitions | 12 | 0 | 0 |
Actuarial (gains) / losses | (184) | (204) | 377 |
Benefits paid | (168) | (166) | |
Benefit obligation at end of year | 2,985 | 3,115 | 3,263 |
Change in fair value of plan assets: | |||
Balance at beginning of year | 0 | 0 | |
Employer contribution | 139 | 139 | |
Participant contribution | 29 | 27 | |
Benefits paid | (168) | (166) | |
Balance at end of year | 0 | 0 | $ 0 |
Funded status at end of year | $ (2,985) | $ (3,115) |
Postretirement Benefits (Det110
Postretirement Benefits (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost-benefits attributable to service during the period | $ 53 | $ 65 | $ 63 |
Interest cost on accumulated postretirement benefit obligation | 128 | 130 | 136 |
Net amortization and deferral | 30 | 47 | 35 |
Net periodic postretirement benefit cost | 211 | 242 | 234 |
Net (gain) / loss during the year | (184) | (204) | 377 |
Plan amendment for acquisition | 12 | 0 | 0 |
Amortization of prior service cost and actuarial losses | (30) | (47) | (35) |
Total recognized in comprehensive income | (202) | (251) | 342 |
Total recognized in net periodic postretirement benefit cost and other comprehensive income | $ 9 | $ (9) | $ 576 |
Postretirement Benefits (Det111
Postretirement Benefits (Details 3) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Weighted average discount rates: | |||
Used to determine benefit obligations at December 31 | 4.00% | 4.25% | 4.25% |
Used to determine net periodic postretirement benefit cost for years ended December 31 | 4.25% | 4.25% | 4.75% |
Assumed health care cost trend rates at December 31: | |||
Health care cost trend rate assumed for next year | 7.50% | 6.50% | 7.00% |
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 5.00% | 5.00% | 5.00% |
Year that rate reaches ultimate trend rate | 2,022 | 2,019 | 2,019 |
Postretirement Benefits (Det112
Postretirement Benefits (Details 4) $ in Thousands | Dec. 31, 2016USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | $ 160 |
2,018 | 173 |
2,019 | 182 |
2,020 | 197 |
2,021 | 180 |
2022 through 2026 | $ 1,035 |
Postretirement Benefits (Det113
Postretirement Benefits (Details 5) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Effect on total of service and interest cost, One-Percentage-Point Increase | $ 27 | $ 27 |
Effect on postretirement benefit obligation, One-Percentage-Point Increase | 369 | 376 |
Effect on total of service and interest cost, One-Percentage-Point Decrease | (22) | (22) |
Effect on postretirement benefit obligation, One-Percentage-Point Decrease | $ (314) | $ (320) |
Postretirement Benefits (Det114
Postretirement Benefits (Details Textual) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |
Postretirement Benefits Description Of Medical Coverage | First Federal employees who retired prior to April1, 1997 and who completed 20 years of service after age 40 receive full medical coverage at no cost. |
Percentage Of Eligible Coverage In Postretirement Benefits | 10.00% |
Maximum Reimburse Medical Expenses | $ 10,000 |
Other Comprehensive Income Loss Defined Benefit Plan Expected To Be Recognized In Net Postretirement Benefit Cost Before Tax | 10,000 |
Other Comprehensive Income Loss Defined Benefit Plan Expected To Be Recognized In Net Postretirement Benefit Cost Net Of Tax | 7,000 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax, Total | 12,000 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Arising During Period, Net of Tax | 8,000 |
Defined Benefits Plan, Expected Contribution, Before Reflecting Subsidy Payments | $ 160,000 |
Postretirement Benefits Description Of Medical Coverage One | First Federal employees who were born after December 31, 1950 are not eligible for the medical coverage described above at retirement. |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||
Tier 1 Capital (to Risk Weighted Assets) Actual (Ratio) | 4.50% | ||||
Total Capital (to Risk Weighted Assets) Actual (Ratio) | 7.00% | ||||
Consolidated [Member] | |||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||
CET1 Capital (to Risk-Weighted Assets) Actual (in dollars) | $ 234,809 | [1] | $ 218,297 | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 101,108 | [1] | 91,710 | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Well Capitalized (in dollars) | $ 0 | [1] | $ 0 | [2] | |
CET1 Capital (to Risk-Weighted Assets) Actual (Ratio) | 10.45% | [1] | 10.71% | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 4.50% | [1],[3] | 4.50% | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 0.00% | [1] | 0.00% | [2] | |
Tier 1 Capital Actual (in dollars) | $ 269,809 | [3] | $ 253,297 | [2] | |
Tier 1 Capital Minimum Required for Adequately Capitalized (in dollars) | 95,975 | [3] | 88,424 | [2] | |
Tier 1 Capital Minimum Required for Well Capitalized (in dollars) | [1] | $ 0 | $ 0 | ||
Tier 1 Capital Actual (Ratio) | 11.24% | [3] | 11.46% | [2] | |
Tier 1 Capital Minimum Required for Adequately Capitalized (Ratio) | 4.00% | [3] | 4.00% | [2] | |
Tier 1 Capital Minimum Required for Well Capitalized (Ratio) | 0.00% | [1] | 0.00% | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Actual (in dollars) | $ 269,809 | [3] | $ 253,297 | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 134,811 | [3] | 122,280 | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (in dollars) | [1] | $ 0 | $ 0 | ||
Tier 1 Capital (to Risk Weighted Assets) Actual (Ratio) | 12.01% | [3] | 12.43% | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 6.00% | [3] | 6.00% | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 0.00% | [1] | 0.00% | [2] | |
Total Capital (to Risk Weighted Assets) Actual (in dollars) | $ 295,693 | [3] | $ 278,679 | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 179,748 | [3] | 163,040 | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (in dollars) | $ 0 | [1] | $ 0 | [2] | |
Total Capital (to Risk Weighted Assets) Actual (Ratio) | 13.16% | [3] | 13.67% | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 8.00% | [3] | 8.00% | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 0.00% | [1] | 0.00% | [2] | |
First Federal [Member] | |||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||
CET1 Capital (to Risk-Weighted Assets) Actual (in dollars) | $ 242,928 | [1] | $ 236,625 | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 101,116 | [1] | 91,678 | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Well Capitalized (in dollars) | $ 146,057 | [1] | $ 132,424 | [2] | |
CET1 Capital (to Risk-Weighted Assets) Actual (Ratio) | 10.81% | [1] | 11.61% | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 4.50% | [1],[3] | 4.50% | [2] | |
CET1 Capital (to Risk-Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 6.50% | [1] | 6.50% | [2] | |
Tier 1 Capital Actual (in dollars) | $ 242,928 | [3] | $ 236,625 | [2] | |
Tier 1 Capital Minimum Required for Adequately Capitalized (in dollars) | 95,791 | [3] | 88,267 | [2] | |
Tier 1 Capital Minimum Required for Well Capitalized (in dollars) | $ 119,739 | [3] | $ 110,334 | [2] | |
Tier 1 Capital Actual (Ratio) | 10.14% | [3] | 10.72% | [2] | |
Tier 1 Capital Minimum Required for Adequately Capitalized (Ratio) | 4.00% | [3] | 4.00% | [2] | |
Tier 1 Capital Minimum Required for Well Capitalized (Ratio) | 5.00% | [3] | 5.00% | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Actual (in dollars) | $ 242,928 | [3] | $ 236,625 | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 134,822 | [3] | 122,237 | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (in dollars) | $ 179,763 | [3] | $ 162,983 | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Actual (Ratio) | 10.81% | [3] | 11.61% | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 6.00% | [3] | 6.00% | [2] | |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 8.00% | [3] | 8.00% | [2] | |
Total Capital (to Risk Weighted Assets) Actual (in dollars) | $ 268,812 | [3] | $ 262,007 | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 179,763 | [3] | 162,983 | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (in dollars) | $ 224,703 | [3] | $ 203,729 | [2] | |
Total Capital (to Risk Weighted Assets) Actual (Ratio) | 11.96% | [3] | 12.86% | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 8.00% | [3] | 8.00% | [2] | |
Total Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 10.00% | [3] | 10.00% | [2] | |
[1] | Core capital is computed as a percentage of adjusted total assets of $2.40 billion for consolidated and $2.39 billion for the Bank. Risk-based capital is computed as a percentage of total risk-weighted assets of $2.25 billion for consolidated and the Bank. | ||||
[2] | Core capital is computed as a percentage of adjusted total assets of $2.21 billion for consolidated and the Bank. Risk-based capital is computed as a percentage of total risk-weighted assets of $2.04 billion for consolidated and the Bank. | ||||
[3] | Excludes capital conservation buffer of 0.625% as of December 31, 2016. |
Regulatory Matters (Details Tex
Regulatory Matters (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Adjusted Total Assets | $ 2,400,000,000 | $ 2,210,000,000 | ||
Risk Weighted Assets | 2,040,000,000 | |||
Tier One Risk Based Capital to Risk Weighted Assets | 4.50% | |||
Excess Tier One Risk Based Capital to Risk Weighted Assets | 2.50% | |||
Capital to Risk Weighted Assets | 7.00% | |||
Capital Conservation Buffer | 0.625% | |||
Basel III [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Excess Tier One Risk Based Capital to Risk Weighted Assets | 4.00% | |||
Capital to Risk Weighted Assets | 10.50% | |||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.50% | |||
Basel III [Member] | Maximum [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Tier One Risk Based Capital to Risk Weighted Assets | 6.00% | |||
Basel III [Member] | Minimum [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Tier One Risk Based Capital to Risk Weighted Assets | 4.00% | |||
First Federal [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Proceeds from Dividends Received | $ 1,000,000 | 1,000,000 | ||
Dividends Receivable | $ 22,000,000 | $ 29,000,000 | ||
Tier One Risk Based Capital to Risk Weighted Assets | 10.81% | [1] | 11.61% | [2] |
Capital to Risk Weighted Assets | 11.96% | [1] | 12.86% | [2] |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | [1] | 6.00% | [2] |
Consolidated [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Adjusted Total Assets | $ 2,390,000,000 | |||
Risk Weighted Assets | $ 2,250,000,000 | |||
Tier One Risk Based Capital to Risk Weighted Assets | 12.01% | [1] | 12.43% | [2] |
Capital to Risk Weighted Assets | 13.16% | [1] | 13.67% | [2] |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | [1] | 6.00% | [2] |
First Insurance [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Proceeds from Dividends Received | $ 1,200,000 | $ 900,000 | ||
[1] | Excludes capital conservation buffer of 0.625% as of December 31, 2016. | |||
[2] | Core capital is computed as a percentage of adjusted total assets of $2.21 billion for consolidated and the Bank. Risk-based capital is computed as a percentage of total risk-weighted assets of $2.04 billion for consolidated and the Bank. |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current: | |||||||||||
Federal | $ 13,125 | $ 11,299 | $ 9,198 | ||||||||
State and local | 244 | 146 | 144 | ||||||||
Deferred | (615) | (35) | (179) | ||||||||
Income Tax Expense (Benefit) | $ 3,436 | $ 2,994 | $ 3,307 | $ 3,017 | $ 2,744 | $ 2,998 | $ 2,815 | $ 2,853 | $ 12,754 | $ 11,410 | $ 9,163 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Line Items] | |||||||||||
Tax expense at statutory rate (35%) | $ 14,559 | $ 13,240 | $ 11,709 | ||||||||
Increases (decreases) in taxes from: | |||||||||||
State income tax - net of federal tax benefit | 159 | 95 | 94 | ||||||||
Tax exempt interest income, net of TEFRA | (1,168) | (1,219) | (1,152) | ||||||||
Bank owned life insurance | (341) | (255) | (816) | ||||||||
Captive insurance | (414) | (415) | (390) | ||||||||
Other | (41) | (36) | (282) | ||||||||
Totals | $ 3,436 | $ 2,994 | $ 3,307 | $ 3,017 | $ 2,744 | $ 2,998 | $ 2,815 | $ 2,853 | $ 12,754 | $ 11,410 | $ 9,163 |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred federal income tax assets: | ||
Allowance for loan losses | $ 9,059 | $ 8,884 |
Postretirement benefit costs | 1,044 | 1,316 |
Deferred compensation | 1,847 | 1,621 |
Impaired loans | 1,087 | 261 |
Accrued vacation | 454 | 644 |
Allowance for real estate held for sale losses | 226 | 269 |
Deferred loan origination fees and costs | 462 | 388 |
Accrued bonus | 626 | 675 |
Other | 1,554 | 794 |
Total deferred federal income tax assets | 16,359 | 14,852 |
Deferred federal income tax liabilities: | ||
FHLB stock dividends | 2,279 | 2,279 |
Goodwill | 5,967 | 5,527 |
Mortgage servicing rights | 3,358 | 3,237 |
Fixed assets | 1,217 | 1,268 |
Other intangible assets | 301 | 422 |
Loan mark to market | 59 | 165 |
Net unrealized gains on available-for-sale securities | 272 | 2,176 |
Prepaid expenses | 694 | 655 |
Total deferred federal income tax liabilities | 14,147 | 15,729 |
Net deferred federal income tax asset/ (liability) | $ 2,212 | $ (877) |
Income Taxes (Details 3)
Income Taxes (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Line Items] | |||
Beginning Balance | $ 0 | $ 0 | $ 0 |
Additions based on tax positions related to the current year | 0 | 0 | 0 |
Additions for tax positions of prior years | 398 | 0 | 0 |
Reductions for tax positions of prior years | 0 | 0 | 0 |
Reductions due to the statute of limitations | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Ending Balance | $ 398 | $ 0 | $ 0 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Line Items] | |||
Tax Basis of Investments, Cost for Income Tax Purposes | $ 11,000,000 | ||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Policyholders Surplus | 3,850,000 | ||
Income Tax Examination, Penalties and Interest Expense, Total | 40,000 | $ 0 | $ 0 |
Income Tax Examination, Penalties and Interest Accrued, Total | $ 40,000 | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% |
Employee Benefit Plans (Details
Employee Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Employee Contribution Plan Description | First Defiance matches 100% of the participants’ contributions up to 3% of compensation and then 50% of the participants’ contributions for the next 2% of compensation. | ||
Employee Benefits Plans Contribution | $ 979,000 | $ 892,000 | $ 919,000 |
Liability for Future Policy Benefits, Period Expense (Income) | 71,000 | 78,000 | 167,000 |
Liability for Future Policy Benefits, Total | $ 1,040,000 | $ 970,000 | $ 892,000 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.00% |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Expected average risk-free rate | 2.05% | 2.04% |
Expected average life | 8 years 11 months 16 days | 10 years |
Expected volatility | 41.00% | 42.00% |
Expected dividend yield | 2.33% | 2.10% |
Stock Compensation Plans (De124
Stock Compensation Plans (Details 1) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Options Outstanding, January 1, 2016 | shares | 86,220 |
Options Outstanding, Forfeited or cancelled | shares | 0 |
Options Outstanding, Exercised | shares | (37,970) |
Options Outstanding, Granted | shares | 6,500 |
Options Outstanding, December 31, 2016 | shares | 54,750 |
Options Outstanding, Vested or expected to vest at December 31, 2016 | shares | 54,750 |
Options Outstanding, Exercisable at December 31, 2016 | shares | 38,300 |
Weighted Average Exercise Price, Outstanding, January 1, 2016 | $ / shares | $ 20.27 |
Weighted Average Exercise Price, Forfeited or cancelled | $ / shares | 0 |
Weighted Average Exercise Price, Exercised | $ / shares | 20.47 |
Weighted Average Exercise Price, Granted | $ / shares | 37.78 |
Weighted Average Exercise Price, outstanding, December 31, 2016 | $ / shares | 22.21 |
Weighted Average Exercise Price, Vested or expected to vest at December 31, 2016 | $ / shares | 22.21 |
Weighted Average Exercise Price, Exercisable at December 31, 2016 | $ / shares | $ 17.86 |
Weighted Average Remaining Contractual Term (in years), outstanding, December 31, 2016 | 3 years 6 months 4 days |
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest at December 31, 2016 | 3 years 6 months 4 days |
Weighted Average Remaining Contractual Term (in years), Exercisable at December 31, 2016 | 1 year 6 months 25 days |
Aggregate Intrinsic Value, outstanding, December 31, 2016 | $ | $ 1,562 |
Aggregate Intrinsic Value, Vested or expected to vest at December 31, 2016 | $ | 1,562 |
Aggregate Intrinsic Value, Exercisable at December 31, 2016 | $ | $ 1,259 |
Stock Compensation Plans (De125
Stock Compensation Plans (Details 2) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Intrinsic value of options exercised | $ 752 | $ 1,069 | $ 542 |
Cash received from option exercises | 714 | 1,469 | 963 |
Tax benefit realized from option exercises | $ 165 | $ 160 | $ 103 |
Weighted average fair value of options granted | $ 13.95 | $ 13.13 | $ 10.79 |
Stock Compensation Plans (De126
Stock Compensation Plans (Details 3) | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Restricted Stock Units (RSUs) [Member] | |
Shares, Unvested at January 1, 2016 | shares | 74,545 |
Shares, Granted | shares | 24,526 |
Shares, Vested | shares | (7,011) |
Shares, Forfeited | shares | (16,592) |
Shares, Unvested at December 31, 2016 | shares | 75,468 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2016 | $ / shares | $ 25.86 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 39.30 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 19.19 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 19.19 |
Weighted-Average Grant Date Fair Value, Unvested at December 31, 2016 | $ / shares | $ 32.31 |
Stock Grants [Member] | |
Shares, Unvested at January 1, 2016 | shares | 10,927 |
Shares, Granted | shares | 10,905 |
Shares, Vested | shares | (10,171) |
Shares, Forfeited | shares | (500) |
Shares, Unvested at December 31, 2016 | shares | 11,161 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2016 | $ / shares | $ 30.98 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 23.39 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 24.02 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 32 |
Weighted-Average Grant Date Fair Value, Unvested at December 31, 2016 | $ / shares | $ 32.30 |
Stock Compensation Plans (De127
Stock Compensation Plans (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 15, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 54,750 | 86,220 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $ 156,000 | |||
Employee Service Share Based Compensation Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition (in years) | 3 years 2 months 12 days | |||
Allocated Share-based Compensation Expense | $ 1,300,000 | $ 1,100,000 | $ 541,000 | |
Compensation Expense, Maximum | 3,600,000 | |||
Estimated Compensation Expense, Excepted | 2,400,000 | |||
Unrecognized Compensation Expense | $ 584,000 | |||
Restricted Stock Units (Rsus) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 75,468 | |||
Restricted Stock Units (Rsus) [Member] | Share Based compensation Award Tranche One | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,000 | |||
Restricted Stock Units (Rsus) [Member] | Share Based Compensation Award Tranche Two | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,022 | |||
Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 1 | 1 year | |||
Director [Member] | Restricted Stock Units (Rsus) [Member] | Share Based compensation Award Tranche One | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,872 | |||
Short-term Equity Incentive Plan 2013 [Member] | ||||
Stock Option Period, Description | All options expire ten years from the date of grant. Vested options of retirees expire on the earlier of the scheduled expiration date or three months after the retirement date. | |||
Equity Plan 2010 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 350,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 168,251 | 186,079 | ||
Short-term and Long-term Equity Incentive Plan 2011 [Member] | ||||
Allocated Share-based Compensation Expense | $ 773,000 | $ 556,000 | ||
Stock Option Grant, 2009 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 20.00% | |||
Stock Option Grant, 2011 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 40.00% | |||
Stock Option Grant, Annual [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 20.00% | |||
Short Term Equity Incentive Plan 2014 [Member] | ||||
Option Subscription, Description | The final amount of benefits under the STIPs is determined as of December31 of the same year and paid out in cash in the first quarter of the following year. | |||
Long Term Equity Incentive Plan 2014 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 30,538 | |||
Option Subscription, Description | The amount of benefit under each LTIP will be determined individually at the end of the 36 month performance period ending December31. The benefits earned under each LTIP will be paid out in equity in the first quarter following the end of the performance period. The participants are required to be employed on the day of payout in order to receive such payment. | |||
Long Term Equity Incentive Plan 2015 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,757 | |||
Option Subscription, Description | The amount of benefit under each LTIP will be determined individually at the end of the 36 month performance period ending December 31. The benefits earned under each LTIP will be paid out in equity in the first quarter following the end of the performance period. The participants are required to be employed on the day of payout in order to receive such payment. | |||
Long Term Equity Incentive Plan 2015 [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | |||
Long Term Equity Incentive Plan 2015 [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 20.00% | |||
Short Term Equity Incentive Plan 2015 [Member] | ||||
Option Subscription, Description | The final amount of benefits under the STIPs is determined as of December31 of the same year and paid out in cash in the first quarter of the following year. | |||
Short Term Equity Incentive Plan 2015 [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | |||
Short Term Equity Incentive Plan 2015 [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 30.00% | |||
Long Term Equity Incentive Plan 2016 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,526 | |||
Short Term Equity Incentive Plan 2016 [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | |||
Short Term Equity Incentive Plan 2016 [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% |
Parent Company Statements (Deta
Parent Company Statements (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and cash equivalents | $ 99,003 | $ 79,769 | $ 112,936 | $ 179,318 |
Other assets | 17,479 | 14,587 | ||
Total assets | 2,477,597 | 2,297,676 | ||
Liabilities and stockholders' equity: | ||||
Stockholders’ equity | 293,018 | 280,197 | $ 279,505 | $ 272,147 |
Total liabilities and stockholders’ equity | 2,477,597 | 2,297,676 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash and cash equivalents | 23,017 | 12,919 | ||
Investment in banking subsidiary | 290,053 | 287,436 | ||
Investment in non-bank subsidiaries | 15,456 | 15,109 | ||
Other assets | 1,155 | 1,191 | ||
Total assets | 329,681 | 316,655 | ||
Liabilities and stockholders' equity: | ||||
Subordinated debentures | 36,083 | 36,083 | ||
Accrued liabilities | 580 | 375 | ||
Stockholders’ equity | 293,018 | 280,197 | ||
Total liabilities and stockholders’ equity | $ 329,681 | $ 316,655 |
Parent Company Statements (D129
Parent Company Statements (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Interest expense | $ (2,231) | $ (2,183) | $ (2,084) | $ (1,942) | $ (1,809) | $ (1,733) | $ (1,672) | $ (1,567) | $ (8,440) | $ (6,781) | $ (6,559) |
Noninterest expense | (18,180) | (18,292) | (17,347) | (17,274) | (17,348) | (16,848) | (16,796) | (16,897) | (71,093) | (67,889) | (66,758) |
Income before income taxes and equity in earnings of subsidiaries | 10,801 | 10,039 | 10,571 | 10,186 | 9,307 | 9,694 | 9,378 | 9,454 | 41,597 | 37,833 | 33,455 |
Net income | $ 7,365 | $ 7,045 | $ 7,264 | $ 7,169 | $ 6,563 | $ 6,696 | $ 6,563 | $ 6,601 | 28,843 | 26,423 | 24,292 |
Comprehensive income | 25,436 | 25,931 | 27,861 | ||||||||
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividends from subsidiaries | 24,200 | 30,900 | 22,200 | ||||||||
Interest on investments | 0 | 1 | 0 | ||||||||
Interest expense | (753) | (613) | (587) | ||||||||
Other income | 0 | 1 | 2 | ||||||||
Noninterest expense | (644) | (588) | (861) | ||||||||
Income before income taxes and equity in earnings of subsidiaries | 22,803 | 29,701 | 20,754 | ||||||||
Income tax credit | (466) | (397) | (485) | ||||||||
Income before equity in earnings of subsidiaries | 23,269 | 30,098 | 21,239 | ||||||||
(Distributions in excess of) undistributed equity in earnings of subsidiaries | 5,574 | (3,675) | 3,053 | ||||||||
Net income | 28,843 | 26,423 | 24,292 | ||||||||
Comprehensive income | $ 25,436 | $ 25,931 | $ 27,861 |
Parent Company Statements (D130
Parent Company Statements (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||||||||||
Net income | $ 7,365 | $ 7,045 | $ 7,264 | $ 7,169 | $ 6,563 | $ 6,696 | $ 6,563 | $ 6,601 | $ 28,843 | $ 26,423 | $ 24,292 |
Financing activities: | |||||||||||
Repurchase of common stock | (6,293) | (8,436) | (15,519) | ||||||||
Stock Options Exercised | 714 | 1,469 | 921 | ||||||||
Direct stock sales | 63 | 64 | 76 | ||||||||
Repayment of stock warrants | 0 | (11,979) | 0 | ||||||||
Net increase (decrease) in cash and cash equivalents | 19,234 | (33,167) | (66,382) | ||||||||
Parent Company [Member] | |||||||||||
Operating activities: | |||||||||||
Net income | 28,843 | 26,423 | 24,292 | ||||||||
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | |||||||||||
Distribution in excess of (undistributed equity in) earnings of subsidiaries | (5,574) | 3,675 | (3,053) | ||||||||
Change in other assets and liabilities | 235 | (205) | 59 | ||||||||
Net cash provided by (used in) operating activities | 23,504 | 29,893 | 21,298 | ||||||||
Financing activities: | |||||||||||
Repurchase of common stock | (6,293) | (8,436) | (15,519) | ||||||||
Cash dividends paid | (7,890) | (7,159) | (5,937) | ||||||||
Stock Options Exercised | 714 | 1,469 | 921 | ||||||||
Direct stock sales | 63 | 64 | 76 | ||||||||
Repayment of stock warrants | 0 | (11,979) | 0 | ||||||||
Net cash used in financing activities | (13,406) | (26,041) | (20,459) | ||||||||
Net increase (decrease) in cash and cash equivalents | 10,098 | 3,852 | 839 | ||||||||
Cash and cash equivalents at beginning of year | $ 12,919 | $ 9,067 | 12,919 | 9,067 | 8,228 | ||||||
Cash and cash equivalents at end of year | $ 23,017 | $ 12,919 | $ 23,017 | $ 12,919 | $ 9,067 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 250,992 | $ 236,435 |
Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 63,005 | 71,799 |
Fair Value, Inputs, Level 1 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 63,005 | 71,799 |
Fair Value, Inputs, Level 3 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of U.S. Government corporations and agencies [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 3,915 | 2,994 |
Obligations of U.S. Government corporations and agencies [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of U.S. Government corporations and agencies [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 3,915 | 2,994 |
Obligations of U.S. Government corporations and agencies [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage-backed - residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 81,707 | 64,654 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 81,707 | 64,654 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
REMIC [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,307 | 1,620 |
REMIC [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
REMIC [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,307 | 1,620 |
REMIC [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Preferred Stock [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2 | 1 |
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2 | 1 |
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Corporate bonds [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 13,013 | 4,977 |
Corporate bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Corporate bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 13,013 | 4,977 |
Corporate bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of state and political subdivisions [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 88,043 | 90,390 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 88,043 | 90,390 |
Mortgage Banking Derivative Asset [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 491 | 558 |
Mortgage Banking Derivative Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage Banking Derivative Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 491 | 558 |
Mortgage Banking Derivative Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 0 | $ 0 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Impaired loans | ||
Total impaired loans | $ 1,496 | $ 5,146 |
Mortgage servicing rights | 657 | 872 |
Real estate held for sale | ||
Total real estate held for sale | 377 | 280 |
One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 316 | 398 |
Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 91 |
Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 848 | 4,575 |
Real estate held for sale | ||
Total real estate held for sale | 377 | 280 |
Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 82 |
Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | 332 | 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 657 | 872 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | ||
Total impaired loans | 1,496 | 5,146 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 377 | 280 |
Fair Value, Inputs, Level 3 [Member] | One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 316 | 398 |
Fair Value, Inputs, Level 3 [Member] | Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 91 |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 848 | 4,575 |
Real estate held for sale | ||
Total real estate held for sale | 377 | 280 |
Fair Value, Inputs, Level 3 [Member] | Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 82 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | $ 332 | $ 0 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 1,496 | $ 5,146 |
Real estate held for sale - Applies to all classes, Fair Value | 377 | 280 |
Range of Input 30% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Real estate held for sale - Applies to all classes, Fair Value | $ 280 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for changes in market conditions | |
Fair Value, Range of Input, Maximum | 30.00% | |
Fair Value Measurement Weighted Average Range | 30.00% | |
Range of Input 10-30% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 1,496 | $ 5,146 |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | Appraisals which utilize sales comparison, net income and cost approach |
Unobservable Inputs, Fair Value | Discounts for collection issues and changes in market conditions | Discounts for collection issues and changes in market conditions |
Fair Value, Range of Input, Minimum | 10.00% | 10.00% |
Fair Value, Range of Input, Maximum | 30.00% | |
Fair Value Measurement Weighted Average Range | 11.00% | 11.00% |
Range Of Input 0-20% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Real estate held for sale - Applies to all classes, Fair Value | $ 377 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for changes in market conditions | |
Fair Value, Range of Input, Minimum | 0.00% | |
Fair Value, Range of Input, Maximum | 20.00% | |
Fair Value Measurement Weighted Average Range | 7.00% | |
Range Of Input 10-30% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value, Range of Input, Maximum | 30.00% |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Financial Assets, Carrying Value: | ||||
Cash and cash equivalents, Carrying Value | $ 99,003 | $ 79,769 | $ 112,936 | $ 179,318 |
Investment securities, Carrying Value | 251,176 | 236,678 | ||
Federal Home Loan Bank Stock, Carrying Value | 13,798 | 13,801 | ||
Loans, net, including loans held for sale, Carrying Value | 1,924,210 | 1,782,358 | ||
Accrued interest receivable, Carrying Value | 6,760 | 6,171 | ||
Financial Liabilities, Carrying Value: | ||||
Deposits, Carrying Value | 1,981,628 | 1,836,137 | ||
Advances from Federal Home Loan Bank, Carrying Value | 103,943 | 59,902 | ||
Securities sold under repurchase agreements, Carrying Value | 31,816 | 57,188 | ||
Subordinated debentures, Carrying Value | 36,083 | 36,083 | ||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 99,003 | 79,769 | ||
Investment securities, Fair Value | 251,179 | 236,680 | ||
Loans, net, including loans held for sale, Fair Value | 1,911,280 | 1,784,998 | ||
Accrued interest receivable, Fair Value | 6,760 | 6,171 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,987,723 | 1,840,464 | ||
Advances from Federal Home Loan Bank, Fair Value | 103,019 | 59,653 | ||
Securities sold under repurchase agreements, Fair Value | 31,816 | 57,188 | ||
Subordinated debentures, Fair Value | 34,718 | 35,305 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 99,003 | 79,769 | ||
Investment securities, Fair Value | 2 | 1 | ||
Loans, net, including loans held for sale, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 9 | 7 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 487,663 | 420,691 | ||
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ||
Securities sold under repurchase agreements, Fair Value | 0 | 0 | ||
Subordinated debentures, Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Investment securities, Fair Value | 251,177 | 236,679 | ||
Loans, net, including loans held for sale, Fair Value | 9,917 | 5,899 | ||
Accrued interest receivable, Fair Value | 867 | 846 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,500,060 | 1,419,773 | ||
Advances from Federal Home Loan Bank, Fair Value | 103,019 | 59,653 | ||
Securities sold under repurchase agreements, Fair Value | 31,816 | 57,188 | ||
Subordinated debentures, Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Investment securities, Fair Value | 0 | 0 | ||
Loans, net, including loans held for sale, Fair Value | 1,901,363 | 1,779,099 | ||
Accrued interest receivable, Fair Value | 5,884 | 5,318 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 0 | 0 | ||
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ||
Securities sold under repurchase agreements, Fair Value | 0 | 0 | ||
Subordinated debentures, Fair Value | $ 34,718 | $ 35,305 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | $ 1,496,000 | $ 5,146,000 | |
Impaired Financing Receivables, Provisional Expenses | 1,000,000 | 580,000 | $ 3,000,000 |
Mortgage Servicing Rights at Fair Value | 657,000 | 872,000 | |
Valuation Allowance of Mortgage Servicing Rights | 522,000 | 645,000 | |
Proceeds from Collection of Loans Receivable | 123,000 | 266,000 | 116,000 |
Real Estate Held-for-sale, Increase (Decrease) in Fair Value | 74,000 | 297,000 | $ 251,000 |
Impaired Financing Receivable, Related Allowance | 809,000 | 437,000 | |
Collateral Dependent Loan [Member] | |||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 1,500,000 | 5,100,000 | |
Impaired Financing Receivable, Related Allowance | $ 1,000,000 | $ 8,000,000 | |
Minimum [Member] | Real Estate held for sale [Member] | |||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Fair Value Inputs, Discount Rate | 0.00% | ||
Maximum [Member] | Real Estate held for sale [Member] | |||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Fair Value Inputs, Discount Rate | 20.00% |
Derivative Financial Instrum136
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives Assets, Carrying Value | $ 491 | $ 558 |
Mortgage Banking Derivatives Liabilities, Carrying Value | 0 | 0 |
Mortgage Banking Derivatives, Net Carrying Value | $ 491 | $ 558 |
Derivative Financial Instrum137
Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivatives not designated as hedging instruments | |||
Mortgage Banking Derivatives - Gain (Loss) | $ (67) | $ 231 | $ 27 |
Derivative Financial Instrum138
Derivative Financial Instruments (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $ 14,100,000 | $ 14,900,000 |
Notional Amount of Interest Rate Derivative Instruments Not Designated as Hedging Instruments | 22,500,000 | 19,900,000 |
Gain (Loss) on Interest Rate Fair Value Hedge Ineffectiveness | $ 5,000 | $ 5,000 |
Quarterly Consolidated Resul139
Quarterly Consolidated Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income | $ 22,770 | $ 22,003 | $ 21,480 | $ 21,130 | $ 20,776 | $ 20,266 | $ 20,037 | $ 19,757 | $ 87,383 | $ 80,836 | $ 76,248 |
Interest expense | 2,231 | 2,183 | 2,084 | 1,942 | 1,809 | 1,733 | 1,672 | 1,567 | 8,440 | 6,781 | 6,559 |
Net interest income | 20,539 | 19,820 | 19,396 | 19,188 | 18,967 | 18,533 | 18,365 | 18,190 | 78,943 | 74,055 | 69,689 |
Provision for loan losses | (149) | 15 | 53 | 364 | 43 | (27) | 0 | 120 | 283 | 136 | 1,117 |
Net interest income after provision for loan losses | 20,688 | 19,805 | 19,343 | 18,824 | 18,924 | 18,560 | 18,365 | 18,070 | 78,660 | 73,919 | 68,572 |
Gain on sale, call or write-down of securities | 0 | 151 | 227 | 131 | 22 | 0 | 0 | 0 | 509 | 22 | 932 |
Noninterest income | 8,293 | 8,375 | 8,348 | 8,505 | 7,709 | 7,982 | 7,809 | 8,281 | 34,030 | 31,803 | 31,641 |
Noninterest expense | 18,180 | 18,292 | 17,347 | 17,274 | 17,348 | 16,848 | 16,796 | 16,897 | 71,093 | 67,889 | 66,758 |
Income before income taxes | 10,801 | 10,039 | 10,571 | 10,186 | 9,307 | 9,694 | 9,378 | 9,454 | 41,597 | 37,833 | 33,455 |
Income taxes | 3,436 | 2,994 | 3,307 | 3,017 | 2,744 | 2,998 | 2,815 | 2,853 | 12,754 | 11,410 | 9,163 |
Net income | $ 7,365 | $ 7,045 | $ 7,264 | $ 7,169 | $ 6,563 | $ 6,696 | $ 6,563 | $ 6,601 | $ 28,843 | $ 26,423 | $ 24,292 |
Earnings per common share: | |||||||||||
Basic | $ 0.82 | $ 0.78 | $ 0.81 | $ 0.80 | $ 0.72 | $ 0.72 | $ 0.71 | $ 0.71 | $ 3.21 | $ 2.87 | $ 2.55 |
Diluted | $ 0.81 | $ 0.78 | $ 0.80 | $ 0.80 | $ 0.71 | $ 0.72 | $ 0.70 | $ 0.69 | $ 3.19 | $ 2.82 | $ 2.44 |
Average shares outstanding: | |||||||||||
Basic | 8,969,000 | 8,976 | 8,968 | 8,994 | 9,146 | 9,238 | 9,268 | 9,234 | 8,969 | 9,210 | 9,505 |
Diluted | 9,035,000 | 9,050 | 9,036 | 9,064 | 9,235 | 9,322 | 9,349 | 9,611 | 8,969 | 9,210 | 9,505 |
Other Comprehensive Income (140
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Securities available for sale and transferred securities: Before Tax Amount | |||
Change in net unrealized gain/(loss) during the period | $ (4,933) | $ (985) | $ 6,763 |
Reclassification adjustment for net gains included in net income | (509) | (22) | (932) |
Net gain on defined benefit postretirement medical plan realized during the period | 172 | 204 | |
Reclassification adjustment for net amortization and deferral on defined benefit postretirement medical plan (included in compensation and benefits) | 30 | 47 | |
Total other comprehensive income | (5,240) | (756) | |
Securities available for sale and transferred securities: Tax Expense (Benefit) | |||
Change in net unrealized gain/(loss) during the period | (1,726) | (345) | |
Reclassification adjustment for net gains included in net income | (178) | (7) | |
Net gain on defined benefit postretirement medical plan realized during the period | 60 | 72 | |
Reclassification adjustment for net amortization and deferral on defined benefit postretirement medical plan (included in compensation and benefits) | 11 | 16 | |
Total other comprehensive income | (1,833) | (264) | |
Securities available for sale and transferred securities: Net of Tax Amount | |||
Change in net unrealized gain/(loss) during the period | (3,207) | (640) | |
Reclassification adjustment for net gains included in net income | (331) | (15) | |
Net gain on defined benefit postretirement medical plan realized during the period | 112 | 132 | |
Reclassification adjustment for net amortization and deferral on defined benefit postretirement medical plan (included in compensation and benefits) | 19 | 31 | |
Total other comprehensive income | $ (3,407) | $ (492) | $ 3,569 |
Other Comprehensive Income (141
Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Securities Available For Sale, Beginning balance | $ 4,042 | $ 4,697 |
Securities Available For Sale, Other comprehensive income before reclassifications | (3,207) | (640) |
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive loss | (331) | (15) |
Securities Available For Sale, Net other comprehensive income during period | (3,538) | (655) |
Securities Available For Sale, Ending balance | 504 | 4,042 |
Post-retirement Benefit, Beginning balance | (420) | (583) |
Post-retirement Benefit, Other comprehensive income before reclassifications | 112 | 132 |
Post-retirement Benefit, Amounts reclassified from accumulated other comprehensive loss | 19 | 31 |
Post-retirement Benefit, Net other comprehensive income during period | 131 | 163 |
Post-retirement Benefit, Ending balance | (289) | (420) |
Accumulated Other Comprehensive Income, Beginning balance | 3,622 | 4,114 |
Accumulated Other Comprehensive Income, Other comprehensive income before reclassifications | (3,095) | (508) |
Accumulated Other Comprehensive Income, Amounts reclassified from accumulated other comprehensive loss | (312) | 16 |
Accumulated Other Comprehensive Income, Net other comprehensive income during period | (3,407) | (492) |
Accumulated Other Comprehensive Income, Ending balance | $ 215 | $ 3,622 |