Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 28, 2017 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | FIRST DEFIANCE FINANCIAL CORP | |
Entity Central Index Key | 946,647 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | FDEF | |
Entity Common Stock, Shares Outstanding | 10,150,984 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Cash and cash equivalents: | ||
Cash and amounts due from depository institutions | $ 51,941 | $ 53,003 |
Federal funds sold | 60,000 | 46,000 |
Cash and cash equivalents at beginning of year | 111,941 | 99,003 |
Securities available-for-sale, carried at fair value | 257,575 | 250,992 |
Held-to-maturity, carried at amortized cost (fair value $734 and $187 at June 30, 2017 and December 31, 2016, respectively) | 733 | 184 |
Marketable Securities, Total | 258,308 | 251,176 |
Securities: | ||
Loans held for sale | 7,939 | 9,607 |
Loans receivable, net of allowance of $25,915 at June 30, 2017 and $25,884 at December 31, 2016, respectively | 2,228,520 | 1,914,603 |
Mortgage servicing rights | 9,680 | 9,595 |
Accrued interest receivable | 8,376 | 6,760 |
Federal Home Loan Bank stock | 15,992 | 13,798 |
Bank owned life insurance | 65,390 | 52,817 |
Premises and equipment | 42,588 | 36,958 |
Real estate and other assets held for sale | 672 | 455 |
Goodwill | 98,318 | 61,798 |
Core deposit and other intangibles | 6,425 | 1,336 |
Deferred Taxes | 313 | 2,212 |
Other assets | 36,045 | 17,479 |
Total assets | 2,890,507 | 2,477,597 |
Liabilities: | ||
Deposits | 2,326,702 | 1,981,628 |
Advances from the Federal Home Loan Bank | 104,830 | 103,943 |
Subordinated debentures | 36,083 | 36,083 |
Securities sold under repurchase agreements | 24,106 | 31,816 |
Notes Payable | 6,500 | 0 |
Advance payments by borrowers | 2,305 | 2,650 |
Other liabilities | 28,551 | 28,459 |
Total liabilities | 2,529,077 | 2,184,579 |
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; 12,712,840 and 12,720,347 shares issued and 10,148,820 and 8,983,206 shares outstanding, respectively | 127 | 127 |
Additional paid-in capital | 160,404 | 126,390 |
Accumulated other comprehensive income, net of tax of $1,479 and $117, respectively | 2,745 | 215 |
Retained earnings | 249,196 | 240,592 |
Treasury stock, at cost, 2,564,020 and 3,737,141 shares respectively | (51,042) | (74,306) |
Total stockholders' equity | 361,430 | 293,018 |
Total liabilities and stockholders' equity | $ 2,890,507 | $ 2,477,597 |
Consolidated Condensed Stateme3
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Held-to-maturity, fair value (in dollars) | $ 734 | [1] | $ 187 |
Loans receivable, allowance (in dollars) | $ 25,915 | $ 25,884 | |
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 | 12,712,840 | 12,720,347 | |
Common stock, shares outstanding | 10,148,820 | 8,983,206 | |
Accumulated other comprehensive income, tax effect (in dollars) | $ 1,479 | $ 117 | |
Treasury stock, shares | 2,564,020 | 3,737,141 | |
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 | |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Consolidated Condensed Stateme4
Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest Income | ||||
Loans | $ 25,318 | $ 19,666 | $ 47,288 | $ 38,978 |
Investment securities: | ||||
Taxable | 943 | 781 | 1,921 | 1,624 |
Non-taxable | 809 | 762 | 1,586 | 1,549 |
Interest-bearing deposits | 201 | 134 | 346 | 183 |
FHLB stock dividends | 187 | 137 | 353 | 276 |
Total interest income | 27,458 | 21,480 | 51,494 | 42,610 |
Interest Expense | ||||
Deposits | 2,170 | 1,545 | 3,966 | 2,978 |
FHLB advances and other | 414 | 321 | 780 | 618 |
Subordinated debentures | 229 | 182 | 443 | 357 |
Notes payable | 13 | 36 | 28 | 73 |
Total interest expense | 2,826 | 2,084 | 5,217 | 4,026 |
Net interest income | 24,632 | 19,396 | 46,277 | 38,584 |
Provision for loan losses | 2,118 | 53 | 2,172 | 417 |
Net interest income after provision for loan losses | 22,514 | 19,343 | 44,105 | 38,167 |
Non-interest Income | ||||
Service fees and other charges | 3,161 | 2,799 | 5,920 | 5,443 |
Insurance commissions | 3,294 | 2,504 | 6,752 | 5,640 |
Mortgage banking income | 1,830 | 1,764 | 3,568 | 3,303 |
Gain on sale of non-mortgage loans | 90 | 411 | 90 | 456 |
Gain on sale or call of securities | 267 | 227 | 267 | 358 |
Trust income | 464 | 409 | 914 | 836 |
Income from Bank Owned Life Insurance | 422 | 230 | 2,245 | 461 |
Other non-interest income | 612 | 231 | 933 | 714 |
Total non-interest income | 10,140 | 8,575 | 20,689 | 17,211 |
Non-interest Expense | ||||
Compensation and benefits | 11,473 | 9,770 | 25,808 | 19,955 |
Occupancy | 1,954 | 1,828 | 3,791 | 3,613 |
FDIC insurance premium | 353 | 329 | 643 | 656 |
Financial institutions tax | 535 | 447 | 1,014 | 893 |
Data processing | 2,019 | 1,641 | 3,958 | 3,101 |
Amortization of intangibles | 334 | 147 | 567 | 304 |
Other non-interest expense | 3,962 | 3,185 | 7,991 | 6,099 |
Total non-interest expense | 20,630 | 17,347 | 43,772 | 34,621 |
Income before income taxes | 12,024 | 10,571 | 21,022 | 20,757 |
Federal income taxes | 3,677 | 3,307 | 7,534 | 6,324 |
Net Income | $ 8,347 | $ 7,264 | $ 13,488 | $ 14,433 |
Earnings per common share (Note 6) | ||||
Basic | $ 0.82 | $ 0.81 | $ 1.38 | $ 1.61 |
Diluted | 0.82 | 0.8 | 1.37 | 1.59 |
Dividends declared per share (Note 5) | $ 0.25 | $ 0.22 | $ 0.50 | $ 0.44 |
Average common shares outstanding (Note 6) | ||||
Basic | 10,147 | 8,968 | 9,793 | 8,981 |
Diluted | 10,204 | 9,036 | 9,848 | 9,050 |
Consolidated Condensed Stateme5
Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Net income | $ 8,347 | $ 7,264 | $ 13,488 | $ 14,433 | |
Other comprehensive income: | |||||
Unrealized gains (losses) on securities available for sale | 2,579 | 1,059 | 4,158 | 2,509 | |
Reclassification adjustment for security gains included in net income | [1] | (267) | (227) | (267) | (358) |
Income tax expense | (808) | (291) | (1,361) | (753) | |
Unrealized gains (losses) on securities available for sale | |||||
Other comprehensive income | 1,504 | 541 | 2,530 | 1,398 | |
Comprehensive income | $ 9,851 | $ 7,805 | $ 16,018 | $ 15,831 | |
[1] | Amounts are included in gains on sale or call of securities on the consolidated condensed statements of income. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the three months ended June 30, 2017 and 2016 was $94 and $79, respectively. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the six months ended June 30, 2017 and 2016 was $94 and $125, respectively. |
Consolidated Condensed Stateme6
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Condensed Statement of Income Captions [Line Items] | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 94 | $ 79 | $ 94 | $ 125 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders’ Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Retained Earnings [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2015 | $ 280,197 | $ 0 | $ 127 | $ 125,734 | $ 3,622 | $ 219,737 | $ (69,023) |
Balance (in shares) at Dec. 31, 2015 | 9,102,831 | ||||||
Net income | 14,433 | 14,433 | |||||
Other comprehensive income | 1,398 | 1,398 | |||||
Stock based compensation expenses | 120 | 120 | |||||
Shares issued under stock option plan | 490 | (23) | (26) | 539 | |||
Shares issued under stock option plan (in shares) | 25,350 | ||||||
Restricted share activity under stock incentive plans | 187 | 34 | (72) | 225 | |||
Restricted share activity under stock incentive plans (in shares) | 10,405 | ||||||
Shares issued from direct stock sales | 24 | 12 | 12 | ||||
Shares issued from direct stock sales (in shares) | 620 | ||||||
Shares repurchased | (6,293) | (6,293) | |||||
Shares repurchased (in shares) | (167,746) | ||||||
Common stock dividends declared | (3,940) | (3,940) | |||||
Balance at Jun. 30, 2016 | 286,616 | 0 | $ 127 | 125,877 | 5,020 | 230,132 | (74,540) |
Balance (in shares) at Jun. 30, 2016 | 8,971,460 | ||||||
Balance at Dec. 31, 2016 | 293,018 | 0 | $ 127 | 126,390 | 215 | 240,592 | (74,306) |
Balance (in shares) at Dec. 31, 2016 | 8,983,206 | ||||||
Net income | 13,488 | 13,488 | |||||
Other comprehensive income | 2,530 | 2,530 | |||||
Stock based compensation expenses | 85 | 85 | |||||
Shares issued under stock option plan | 198 | 51 | (83) | 230 | |||
Shares issued under stock option plan (in shares) | 4,043 | ||||||
Capital stock issuance | 56,532 | 33,792 | 22,740 | ||||
Capital stock issuance (in shares) | 1,139,502 | ||||||
Restricted share activity under stock incentive plans | 327 | 64 | (17) | 280 | |||
Restricted share activity under stock incentive plans (in shares) | 21,377 | ||||||
Shares issued from direct stock sales | 36 | 22 | 14 | ||||
Shares issued from direct stock sales (in shares) | 692 | ||||||
Common stock dividends declared | (4,784) | (4,784) | |||||
Balance at Jun. 30, 2017 | $ 361,430 | $ 0 | $ 127 | $ 160,404 | $ 2,745 | $ 249,196 | $ (51,042) |
Balance (in shares) at Jun. 30, 2017 | 10,148,820 |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Stockholders’ Equity (Parenthetical) - shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Stock Repurchased and Retired (in shares) | 7,507 | 1,570 |
Consolidated Condensed Stateme9
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating Activities | ||
Net Income | $ 13,488 | $ 14,433 |
Items not requiring (providing) cash | ||
Provision for loan losses | 2,172 | 417 |
Depreciation | 1,770 | 1,665 |
Amortization of mortgage servicing rights, net of impairment recoveries | 667 | 870 |
Amortization of core deposit and other intangible assets | 567 | 304 |
Net amortization of premiums and discounts on loans and deposits | (190) | 175 |
Amortization of premiums and discounts on securities | 538 | 411 |
Change in deferred taxes | 621 | 46 |
Proceeds from the sale of loans held for sale | 102,111 | 101,985 |
Originations of loans held for sale | (98,818) | (107,942) |
Gain from sale of loans | (2,467) | (2,876) |
Gain from sale or call of securities | (267) | (358) |
Loss on sale or disposal of premises and equipment | 52 | 0 |
Gain on sale / write-down of real estate and other assets held for sale | (53) | (272) |
Stock option expense | 85 | 120 |
Restricted stock expense | 327 | 187 |
Income from bank owned life insurance | (2,245) | (461) |
Excess tax (benefit) expense on stock compensation plans | (162) | (130) |
Changes in: | ||
Accrued interest receivable | (294) | (250) |
Other assets | (53) | (4,312) |
Other liabilities | (3,144) | 1,166 |
Net cash provided by operating activities | 14,705 | 5,178 |
Investing Activities | ||
Proceeds from maturities of held-to-maturity securities | 43 | 45 |
Proceeds from maturities, calls and pay-downs of available-for-sale securities | 13,244 | 17,877 |
Proceeds from sale of premises and equipment | 69 | 0 |
Proceeds from sale of real estate and other assets held for sale | 145 | 902 |
Proceeds from the sale of available-for-sale securities | 7,727 | 8,515 |
Proceeds from sale of non-mortgage loans | 15,167 | 10,945 |
Purchases of available-for-sale securities | (20,187) | (15,476) |
Proceeds from Federal Home Loan stock redemption | 0 | 1 |
Net cash received in acquisitions | 19,359 | 0 |
Investment in bank owned life insurance | (20,000) | 0 |
Purchase of portfolio mortgage loans | (11,476) | 0 |
Purchases of premises and equipment, net | (1,992) | (1,028) |
Net increase in loans receivable | (34,266) | (70,132) |
Net cash used by investing activities | (32,167) | (48,351) |
Financing Activities | ||
Net increase in deposits and advance payments by borrowers | 36,677 | 83,345 |
Repayment of Federal Home Loan Bank advances | (517) | (477) |
Proceeds from Federal Home Loan Bank advances | 0 | 25,000 |
Increase in notes payable | 6,500 | |
Decrease in securities sold under repurchase agreements | (7,710) | (4,199) |
Proceeds from exercise of stock options | 198 | 490 |
Proceeds from direct stock sales | 36 | 24 |
Net cash paid for repurchase of common stock | 0 | (6,293) |
Cash dividends paid on common stock | (4,784) | (3,940) |
Net cash provided by financing activities | 30,400 | 93,950 |
Increase (decrease) in cash and cash equivalents | 12,938 | 50,777 |
Cash and cash equivalents at beginning of period | 99,003 | 79,769 |
Cash and cash equivalents at end of period | 111,941 | 130,546 |
Supplemental cash flow information: | ||
Interest paid | 5,123 | 3,975 |
Income taxes paid | 6,800 | 5,900 |
Transfers from loans to real estate and other assets held for sale | 309 | 431 |
Securities purchased but not yet settled | 0 | 357 |
Sale of bank owned life insurance not yet settled | $ 17,840 | $ 0 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
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, non-residential real estate, commercial, home improvement and home equity and consumer loans and providing a broad range of depository, trust and wealth management services. In addition, First Federal invests in U.S. Treasury and federal government agency obligations, obligations of the State of Ohio and its political subdivisions, mortgage-backed securities that are issued by federal agencies, including real estate mortgage investment conduits (“REMICs”) and collateralized mortgage obligations (“CMOs”), and corporate bonds. First Insurance is an insurance agency that conducts business through offices located in the Defiance, Maumee, Oregon, Bryan, Lima and Bowling Green, Ohio areas. First Insurance offers property and casualty insurance, life insurance and group health insurance. First Defiance Risk Management is a wholly-owned insurance company subsidiary of the Company that insures 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. First Defiance Risk Management pools resources with several other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. The consolidated condensed statement of financial condition at December 31, 2016 has been derived from the audited financial statements at that date, which were included in First Defiance’s Annual Report on Form 10-K for the year ended December 31, 2016. The accompanying consolidated condensed financial statements as of June 30, 2017 and for the three and six month periods ended June 30, 2017 and 2016 have been prepared by First Defiance without audit and do not include information or footnotes necessary for the complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States. These consolidated condensed financial statements should be read in conjunction with the financial statements and notes thereto included in First Defiance's 2016 Annual Report on Form 10-K for the year ended December 31, 2016. However, in the opinion of management, all adjustments, consisting of only normal recurring items, necessary for the fair statement of results in the financial statements have been made. The results for the three and six month periods ended June 30, 2017 are not necessarily indicative of the results that may be expected for the entire year. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2 . Significant Accounting Policies 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. Basic earnings per common share is computed by dividing net income 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 include the dilutive effect of additional potential common shares issuable under stock options, restricted stock awards and stock grants. 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 In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2017-08, “Premium Amortization on Purchased Callable Debt Securities.” This ASU shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not change the accounting for purchased callable debt securities held at a discount; the discount continues to be amortized to maturity. ASU No. 2017-08 is effective for interim and annual reporting periods beginning after December 15, 2018; early adoption is permitted. The guidance calls for a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company plans to adopt the provisions of ASU No. 2017-08 on January 1, 2018 and does not expect the adoption to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “Simplifying the Test for Goodwill Impairment.” In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” 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 has not yet selected a transition method as it is in the process of determining the effect of the ASU on its consolidated financial statements and disclosures. The Company leases certain properties under operating leases that will result in the recognition of lease assets and lease liabilities on the Company’s balance sheet under this ASU, however, the majority of the Company’s properties are owned, not leased. At June 30, 2017, the Company had contractual operating lease commitments of approximately $4.5 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 and the International Accounting Standards Board (the “IASB”) jointly issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under GAAP and International Financial Reporting Standards (“IFRS”). Previous revenue recognition guidance in GAAP consisted of broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. In contrast, IFRS provided limited revenue recognition guidance and, consequently, could be difficult to apply to complex transactions. Accordingly, the FASB and the IASB initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS that would: (1) remove inconsistencies and weaknesses in revenue requirements; (2) provide a more robust framework for addressing revenue issues; (3) improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets; (4) provide more useful information to users of financial statements through improved disclosure requirements; and (5) simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. To meet those objectives, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” “Revenue from Contracts with Customers - Deferral of the Effective Date” “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” “Identifying Performance Obligations and Licensing,” “Narrow-Scope Improvements and Practical Expedients,” “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 3. 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 ⋅ Level 2 ⋅ Level 3 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 June 30, 2017 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 3,964 $ - $ 3,964 Mortgage-backed - residential - 76,525 - 76,525 REMICs - 1,195 - 1,195 Collateralized mortgage obligations- residential - 68,087 - 68,087 Preferred stock 1 - - 1 Corporate bonds - 13,099 - 13,099 Obligations of state and political subdivisions - 94,704 - 94,704 Mortgage banking derivative - asset - 774 - 774 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- residential - 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 Assets and Liabilities Measured on a Non-Recurring Basis Total Fair June 30, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans Commercial Real Estate $ - $ - $ 1,896 $ 1,896 Commercial - - 2,882 2,882 Total Impaired loans - - 4,778 4,778 Mortgage servicing rights - 592 592 Real estate held for sale Commercial Real Estate - - 227 227 Total Real Estate held for sale - - 227 227 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 Commercial Real Estate - - 848 848 Commercial 332 332 Total impaired loans - - 1,496 1,496 Mortgage servicing rights - 657 - 657 Commercial Real Estate - - 377 377 Total Real Estate held for sale - - 377 377 Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 4,778 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10 % 10 % Real estate held for sale Applies to all classes $ 227 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 3 % 3 % For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2016, 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 $ 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 % Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a fair value of $ 4.8 1.5 1,000 605,000 813,000 98,000 719,000 Mortgage servicing rights which are carried at the lower of cost or fair value, had a fair value of $ 592,000 474,000 657,000 522,000 16,000 48,000 104,000 125,000 Real estate held for sale is determined using Level 3 inputs which include appraisals and are adjusted for estimated costs to sell. The change in fair value of real estate held for sale was $ 20,000 0 53,000 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 June 30, 2017 and December 31, 2016. 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 and notes payable, 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 Federal Home Loan Bank (“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 value. 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 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 June 30, 2017 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 111,941 $ 111,941 $ 111,941 $ - $ - Investment securities 258,308 258,309 1 258,309 - Federal Home Loan Bank Stock 15,992 N/A N/A N/A N/A Loans, net, including loans held for sale 2,236,459 2,224,321 - 8,411 2,215,910 Accrued interest receivable 8,376 8,376 12 968 7,396 Financial Liabilities: Deposits $ 2,326,702 $ 2,333,984 $ 520,778 $ 1,813,206 $ - Advances from Federal Home Loan Bank 104,830 104,334 - 104,334 - Securities sold under repurchase agreements 24,106 24,106 - 24,106 - Notes Payable 6,500 6,500 6,500 - - Subordinated debentures 36,083 34,709 - - 34,709 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 |
Stock Compensation Plans
Stock Compensation Plans | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 4. 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 existing plans. All awards currently outstanding under prior plans will remain in effect in accordance with their respective terms. Any new awards will be made under the 2010 Equity Plan. The 2010 Equity Plan allows for issuance of up to 350,000 As of June 30, 2017, 43,200 20 In each of the years 2016-2017, 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 2016 and 2017 STIPs, the participants could earn up to 10 45 Under each LTIP, the participants may earn up to 20 45 24,526 20,657 A total of 19,219 In the six months ended June 30, 2017, the Company also granted to employees 4,763 Of the 4,763 restricted shares granted, 1,839 2,924 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 stock. 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. Six Months ended June 30, 2017 June 30, 2016 Expected average risk-free rate - 2.24 % Expected average life - 10.00 years Expected volatility - 41.00 % Expected dividend yield - 2.33 % The weighted-average fair value of options granted was $ 13.95 Weighted Average Aggregate Weighted Remaining Intrinsic Options Average Contractual Value Outstanding Exercise Price Term (in years) (in 000’s) Options outstanding, January 1, 2017 54,750 $ 22.21 Forfeited or cancelled - - Exercised (11,550) 24.41 Granted - - Options outstanding, June 30, 2017 43,200 $ 21.62 3.65 $ 1,342 Vested or expected to vest at June 30, 2017 43,200 $ 21.62 3.65 $ 1,342 Exercisable at June 30, 2017 31,100 $ 17.31 2.12 $ 1,100 Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Proceeds of options exercised $ 65 $ 200 $ 198 $ 490 Related tax benefit recognized 10 36 54 110 Intrinsic value of options exercised 101 161 301 488 As of June 30, 2017, there was $ 130,000 2.7 . At June 30, 2017, 72,660 4,569 266,000 1.1 446,000 707,000 367,000 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, 2017 75,468 $ 32.31 11,161 $ 32.30 Granted 23,384 50.56 21,377 28.39 Vested (19,341) 25.77 (26,980) 26.70 Forfeited (6,973) 25.77 (1,022) 37.02 Unvested at June 30, 2017 72,660 $ 40.54 4,536 $ 46.09 The maximum amount of compensation expense that may be recorded for the 2017 STIP and the 2015, 2016 and 2017 LTIPs at June 30, 2017 is approximately $ 3.8 3.3 1.7 |
Dividends on Common Stock
Dividends on Common Stock | 6 Months Ended |
Jun. 30, 2017 | |
Dividends, Common Stock [Abstract] | |
Dividend on Common Stock [Text Block] | 5. Dividends on Common Stock First Defiance declared and paid a $ 0.25 0.22 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 6. Earnings Per Common Share Basic earnings per share are 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. Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands, except per share data) Basic Earnings Per Share: Net income available to common shareholders $ 8,347 $ 7,264 $ 13,488 $ 14,433 Less: Income allocated to participating securities 1 3 2 6 Net income allocated to common shareholders 8,346 7,261 13,486 14,427 Weighted average common shares outstanding Including participating securities 10,152 8,979 9,798 8,992 Less: Participating securities 5 11 5 11 Average common shares 10,147 8,968 9,793 8,981 Basic earnings per common share $ 0.82 $ 0.81 1.38 1.61 Diluted Earnings Per Share: Net income allocated to common shareholders $ 8,346 $ 7,261 $ 13,486 14,427 Weighted average common shares outstanding for basic earnings per common share 10,147 8,968 9,793 8,981 Add: Dilutive effects of stock options 57 68 55 69 Average shares and dilutive potential common shares 10,204 9,036 9,848 9,050 Diluted earnings per common share $ 0.82 $ 0.80 1.37 1.59 Shares subject to issue upon exercise of options of 4,536 11,161 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Marketable Securities [Abstract] | |
Investment [Text Block] | 7. Investment Securities Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) At June 30, 2017 Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 4,000 $ - $ (36) $ 3,964 Mortgage-backed securities residential 76,018 852 (345) 76,525 REMICs 1,188 7 - 1,195 Collateralized mortgage obligations 67,647 708 (268) 68,087 Trust preferred securities and preferred stock - 1 - 1 Corporate bonds 12,917 182 - 13,099 Obligations of state and political subdivisions 91,138 3,634 (68) 94,704 Totals $ 252,908 $ 5,384 $ (717) $ 257,575 Gross Gross Amortized Unrecognized Unrecognized Cost Gains Losses Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 10 $ - $ - $ 10 FNMA certificates 49 1 - 50 GNMA certificates 20 - - 20 Obligations of state and political subdivisions 654 - - 654 Totals $ 733 $ 1 $ - $ 734 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 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 * FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. The amortized cost and fair value of the investment securities portfolio at June 30, 2017 are shown below by contractual maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity table, mortgage-backed securities (“MBS”), collateralized mortgage obligations (“CMO”) and REMICs, which are not due at a single maturity date, have not been allocated over the maturity groupings. Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Due in one year or less $ 1,213 $ 1,217 $ - $ - Due after one year through five years 22,615 23,027 62 62 Due after five years through ten years 42,929 44,772 592 592 Due after ten years 41,298 42,752 - - MBS/CMO/REMIC 144,853 145,807 79 80 $ 252,908 $ 257,575 $ 733 $ 734 Investment securities with a carrying amount of $ 146.2 As of June 30, 2017, the Company’s investment portfolio consisted of 430 63 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 June 30, 2017 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 3,964 $ (36) $ - $ - $ 3,964 $ (36) Mortgage-backed securities-residential 21,136 (345) - - 21,136 (345) Collateralized mortgage obligations 21,877 (228) 1,141 (40) 23,018 (268) Obligations of state and political subdivisions 4,167 (68) - - 4,167 (68) Total temporarily impaired securities $ 51,144 $ (677) $ 1,141 $ (40) $ 52,285 $ (717) 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) There were realized gains of $ 267,000 174,000 227,000 148,000 Management evaluates securities for other-than-temporary impairment (“OTTI”) at least quarterly, 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 above 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 the second quarter of 2017 and 2016, management determined there was no OTTI. Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Proceeds $ 7,727 $ 3,155 $ 7,727 $ 8,515 Gross realized gains 267 227 267 358 Gross realized losses - - - - |
Loans
Loans | 6 Months Ended |
Jun. 30, 2017 | |
Loans Receivable, Net [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Loans Loans receivable consist of the following: June 30, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 276,578 $ 207,550 Secured by multi-family residential 208,770 196,983 Secured by commercial real estate 973,317 843,579 Construction 234,688 182,886 1,693,353 1,430,998 Other Loans: Commercial 515,004 469,055 Home equity and improvement 130,429 118,429 Consumer finance 28,860 16,680 674,293 604,164 Total loans 2,367,646 2,035,162 Deduct: Undisbursed loan funds (112,000 ) (93,355 ) Net deferred loan origination fees and costs (1,211 ) (1,320 ) Allowance for loan loss (25,915 ) (25,884 ) Totals $ 2,228,520 $ 1,914,603 The table above includes loans acquired during 2017 totaling $285.4 million as of February 24, 2017, which is net of purchase discount on the acquired loans of $5.4 million. The recorded investment of these loans as of June 30, 2107 was $263.0 million, net of the purchase discount of $5.0 million. Loan segments have been identified by evaluating the portfolio based on collateral and credit risk characteristics. The following table discloses allowance for loan loss activity for the quarters ended June 30, 2017 and 2016 by portfolio segment (In Thousands): Quarter Ended June 30, 2017 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,621 $ 2,122 $ 10,210 $ 458 $ 7,809 $ 2,300 $ 229 $ 25,749 Charge-Offs 0 0 (110 ) 0 (2,027 ) (100 ) (21 ) (2,258 ) Recoveries 33 0 83 0 94 26 70 306 Provisions (13 ) 71 (47 ) 82 2,097 (27 ) (45 ) 2,118 Ending Allowance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Quarter Ended June 30, 2016 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 3,109 $ 2,250 $ 11,644 $ 489 $ 5,820 $ 2,232 $ 124 $ 25,668 Charge-Offs (37 ) 0 0 0 (19 ) (66 ) (17 ) (139 ) Recoveries 34 0 229 0 56 34 13 366 Provisions (267 ) 115 (969 ) 144 883 78 69 53 Ending Allowance $ 2,839 $ 2,365 $ 10,904 $ 633 $ 6,740 $ 2,278 $ 189 $ 25,948 The following table discloses allowance for loan loss activity for the year-to-date periods ended June 30, 2017 and June 30, 2016 by portfolio segment and impairment method (In Thousands): Year-to-date Period Ended June 30, 2017 1-4 Family Multi- Commercial Construction Commercial Home Equity and Consumer Total Beginning Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Charge-Offs (49 ) 0 (400 ) 0 (2,027 ) (154 ) (92 ) (2,722 ) Recoveries 89 32 117 0 210 59 74 581 Provisions (26 ) (67 ) (206 ) 90 2,429 (92 ) 44 2,172 Ending Allowance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Year-to-date Period Ended June 30, 2016 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Improvement Consumer Total Beginning Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Charge-Offs (92 ) 0 (13 ) 0 (355 ) (96 ) (17 ) (573 ) Recoveries 120 0 406 0 75 73 48 722 Provisions (401 ) 214 (1,261 ) 116 1,765 (3 ) (13 ) 417 Ending Allowance $ 2,839 $ 2,365 $ 10,904 $ 633 $ 6,740 $ 2,278 $ 189 $ 25,948 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 June 30, 2017 (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 $ 182 $ 3 $ 127 $ - $ 48 $ 285 $ - $ 645 Collectively evaluated for impairment 2,459 2,190 10,009 540 7,925 1,914 233 25,270 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Loans: Loans individually evaluated for impairment $ 6,905 $ 2,117 $ 28,557 $ - $ 11,843 $ 1,214 $ 55 $ 50,691 Loans collectively evaluated for impairment 269,090 206,615 945,730 122,812 504,289 129,683 28,805 2,207,024 Loans acquired with deteriorated credit quality 1,100 304 2,375 - 337 - - 4,116 Total ending loans balance $ 277,095 $ 209,036 $ 976,662 $ 122,812 $ 516,469 $ 130,897 $ 28,860 $ 2,261,831 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 average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Average Interest Cash Basis Average Interest Cash Basis Residential Owner Occupied $ 4,088 $ 34 $ 34 $ 3,454 $ 62 $ 62 Residential Non Owner Occupied 2,813 35 35 3,352 71 71 Total Residential Real Estate 6,901 69 69 6,806 133 133 Construction - - - - - - Multi-Family 2,144 9 9 2,759 19 19 CRE Owner Occupied 12,098 24 24 8,356 46 48 CRE Non Owner Occupied 3,552 31 30 4,026 73 67 Agriculture Land 9,903 140 63 6,305 187 82 Other CRE 1,654 10 8 1,661 23 20 Total Commercial Real Estate 27,207 205 125 20,348 329 217 Commercial Working Capital 5,939 29 29 4,156 48 52 Commercial Other 7,731 30 21 4,726 51 33 Total Commercial 13,670 59 50 8,882 99 85 Home Equity and Improvement 1,223 11 11 1,239 21 21 Consumer Finance 58 1 1 66 2 3 Total Impaired Loans $ 51,203 $ 354 $ 265 $ 40,100 $ 603 $ 478 The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Average Interest Cash Basis Average Interest Cash Basis Residential Owner Occupied $ 3,774 $ 36 $ 34 $ 3,900 $ 75 $ 73 Residential Non Owner Occupied 3,211 31 31 3,384 66 65 Total Residential Real Estate 6,985 67 65 7,284 141 138 Construction - - - - - - Multi-Family 4,063 24 24 4,328 54 54 CRE Owner Occupied 7,169 42 37 8,130 104 85 CRE Non Owner Occupied 4,900 52 53 4,659 105 102 Agriculture Land 1,838 15 2 2,716 50 14 Other CRE 1,675 14 14 1,548 18 18 Total Commercial Real Estate 15,582 123 106 17,053 277 219 Commercial Working Capital 1,535 15 7 1,524 30 22 Commercial Other 1,783 9 9 3,014 28 27 Total Commercial 3,318 24 16 4,538 58 49 Home Equity and Improvement 1,699 13 13 1,724 28 28 Consumer Finance 68 1 1 71 2 2 Total Impaired Loans $ 31,715 $ 252 $ 225 $ 34,998 $ 560 $ 490 The following table presents loans individually evaluated for impairment by class of loans (In Thousands): June 30, 2017 December 31, 2016 Unpaid Recorded Allowance Unpaid Recorded Allowance With no allowance recorded: Residential Owner Occupied $ 2,257 $ 2,110 $ - $ 1,912 $ 1,765 $ - Residential Non Owner Occupied 1,786 1,781 - 1,691 1,683 - Total 1-4 Family Residential Real Estate 4,043 3,891 - 3,603 3,448 - Multi-Family Residential Real Estate 2,066 2,067 - 3,578 3,430 - CRE Owner Occupied 10,255 9,753 - 2,652 2,353 - CRE Non Owner Occupied 3,446 3,223 - 4,372 4,240 - Agriculture Land 11,145 11,362 - 1,695 1,722 - Other CRE 748 751 - 1,225 1,115 - Total Commercial Real Estate 25,594 25,089 - 9,944 9,430 - Construction - - - - - - Commercial Working Capital 5,780 5,804 - 838 786 - Commercial Other 6,400 4,770 - 1,179 967 - Total Commercial 12,180 10,574 - 2,017 1,753 - Home Equity and Home Improvement 635 590 - 631 585 - Consumer Finance 48 49 - 55 55 $ - Total loans with no allowance recorded $ 44,566 $ 42,260 $ - $ 19,828 $ 8,701 With an allowance recorded: Residential Owner Occupied $ 1,980 $ 1,960 $ 147 $ 2,348 $ 2,319 $ 157 Residential Non Owner Occupied 1,062 1,054 35 1,137 1,131 45 Total 1-4 Family Residential Real Estate 3,042 3,014 182 3,485 3,450 202 Multi-Family Residential Real Estate 50 50 3 53 53 4 CRE Owner Occupied 2,585 2,189 57 2,362 1,894 102 CRE Non Owner Occupied 303 304 16 1,618 1,479 108 Agriculture Land 109 110 3 45 45 3 Other CRE 1,283 865 51 1,144 722 42 Total Commercial Real Estate 4,280 3,468 127 5,169 4,140 255 Construction - - - - - - Commercial Working Capital 173 173 18 230 231 24 Commercial Other 1,094 1,096 30 167 170 11 Total Commercial 1,267 1,269 48 397 401 35 Home Equity and Home Improvement 628 624 285 688 684 313 Consumer Finance 6 6 - 4 4 - Total loans with an allowance recorded $ 9,273 $ 8,431 $ 645 $ 9,796 $ 8,732 $ 809 * 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: June 30, December 31, (In Thousands) Non-accrual loans $ 30,359 $ 14,348 Loans over 90 days past due and still accruing - - Total non-performing loans 30,359 14,348 Real estate and other assets held for sale 672 455 Total non-performing assets $ 31,031 $ 14,803 Troubled debt restructuring, still accruing $ 10,521 $ 10,544 The following table presents the aging of the recorded investment in past due and non- accrual loans as of June 30, 2017 by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Residential Owner Occupied $ 176,884 $ 537 $ 2,084 $ 945 $ 3,566 $ 2,442 Residential Non Owner Occupied 96,023 116 7 499 622 698 Total 1-4 Family Residential Real Estate 272,907 653 2,091 1,444 4,188 3,140 Multi-Family Residential Real Estate 209,036 - - - - 1,397 CRE Owner Occupied 377,932 - 175 1,109 1,284 10,598 CRE Non Owner Occupied 393,718 79 - 686 765 3,641 Agriculture Land 135,173 1,161 66 231 1,458 2,245 Other Commercial Real Estate 66,332 - - - - 1,024 Total Commercial Real Estate 973,155 1,240 241 2,026 3,507 17,508 Construction 122,569 - - 243 243 243 Commercial Working Capital 233,294 394 - 273 667 3,519 Commercial Other 282,056 98 68 286 452 3,948 Total Commercial 515,350 492 68 559 1,119 7,467 Home Equity/Home Improvement 129,544 1,054 178 121 1,353 556 Consumer Finance 28,601 160 57 42 259 51 Total Loans $ 2,251,162 $ 3,599 $ 2,635 $ 4,435 $ 10,669 $ 30,362 Loans acquired with deteriorated credit quality (included in the totals above) $ 3,824 $ 102 $ - $ 190 $ 292 $ 2,014 Loans acquired in current year (included in totals above) $ 260,066 $ 2,202 $ 175 $ 527 $ 2,904 $ 2,496 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 Total 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 Troubled Debt Restructurings As of June 30, 2017 and December 31, 2016, the Company had a recorded investment in troubled debt restructurings (“TDRs”) of $22.6 million and $16.8 million, respectively. The Company allocated $636,000 and $809,000 of specific reserves to those loans at June 30, 2017 and December 31, 2016, and had committed to lend additional amounts totaling up to $101,000 and $20,000 at June 30, 2017 and December 31, 2016, respectively. 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, $11.9 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 tables present loans by class modified as TDRs that occurred during the three month periods and six month periods ending June 30, 2017 and June 30, 2016: Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 4 $ 413 8 $ 512 1-4 Family Non Owner Occupied 1 23 3 106 Multi Family 0 - 0 - CRE Owner Occupied 0 - 1 117 CRE Non Owner Occupied 0 - 0 - Agriculture Land 2 1,450 2 1,450 Other CRE 2 196 2 196 Commercial Working Capital 5 2,563 5 2,563 Commercial Other 3 3,467 4 3,513 Home Equity and Improvement 1 57 2 82 Consumer Finance 0 - 2 5 Total 18 $ 8,169 29 $ 8,544 The loans described above decreased the ALLL by $5,000 in the three month period ending June 30, 2017 and decreased the ALLL by $24,000 in the six month period ending June 30, 2017. Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 4 $ 115 5 $ 124 1-4 Family Non Owner Occupied 0 - 2 124 Multi Family 1 55 1 55 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 2 671 2 671 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 1 226 1 226 Commercial Other 1 606 1 606 Home Equity and Improvement 2 56 5 325 Consumer Finance 1 6 3 9 Total 12 $ 1,735 20 $ 2,140 The loans described above decreased the ALLL by $29,000 in the three month period ending June 30, 2016 and $43,000 in the six month period ending June 30, 2016. Of the 2017 modifications, 7 were made TDRs due to the fact that the borrower is in bankruptcy, 5 were made TDR due to terming out lines of credit, 9 were made TDR due to advancing or renewing money to a watch list credit, 3 loans were placed under a forebearance agreement and 5 were made a TDR because the current debt was refinanced for payment relief. The following tables present loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the three and six month periods ended June 30, 2017 and June 30, 2016: Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 1 225 1 225 Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 1 $ 225 1 $ 225 The TDRs that subsequently defaulted described above had no effect on the allowance for loan losses for the three and six month periods ended June 30, 2017. Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 1 15 1 15 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 0 - Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 1 $ 15 1 $ 15 The TDRs that subsequently defaulted described above had no effect on the allowance for loan losses for the three and six month periods ended June 30, 2016. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed on 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. Substandard. Doubtful. Not Graded. 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 June 30, 2017, 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 1-4 Family Owner Occupied $ 7,569 $ 664 $ 2,306 $ - $ 169,912 $ 180,451 1-4 Family Non Owner Occupied 86,082 1,854 3,463 - 5,245 96,644 Total 1-4 Family Real Estate 93,651 2,518 5,769 - 175,157 277,095 Multi-Family Residential Real Estate 205,834 548 2,541 - 113 209,036 CRE Owner Occupied 353,499 13,245 12,219 - 253 379,216 CRE Non Owner Occupied 384,585 4,007 5,890 - - 394,482 Agriculture Land 120,240 3,476 12,915 - - 136,631 Other CRE 63,303 211 2,014 - 805 66,333 Total Commercial Real Estate 921,627 20,939 33,038 - 1,058 976,662 Construction 100,933 1,080 - - 20,799 122,812 Commercial Working Capital 220,163 7,442 6,355 - - 233,960 Commercial Other 271,722 4,094 6,693 - - 282,509 Total Commercial 491,885 11,536 13,048 - - 516,469 Home Equity and Home Improvement - - 622 - 130,275 130,897 Consumer Finance - - 132 - 28,728 28,860 Total Loans $ 1,813,930 $ 36,621 $ 55,150 $ - $ 356,130 $ 2,261,831 Loans acquired with deteriorated credit quality (included in the totals above) $ 45 $ 1,338 $ 2,729 - $ 4 $ 4,116 Loans acquired in current year (included in totals above) $ 201,437 $ 2,616 $ 11,421 - $ 47,496 $ 262,970 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 The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The outstanding balance of those loans is as follows (In Thousands): June 30, 2017 1-4 Family Residential Real Estate $ 1,195 Commercial Real Estate Loans 3,883 Commercial 418 Consumer 3 Total Outstanding Balance $ 5,499 Recorded Investment, net of allowance of $0 $ 4,116 Accretable yield, or income expected to be collected, is as follows: 2017 Balance at January 1 $ - New Loans Purchased 1,018 Accretion of Income (76 ) Reclassifications from Non-accretable - Charge-off of Accretable Yield (8 ) Balance at June 30 $ 934 For those purchased loans disclosed above, the Company did not increase the allowance for loan losses during the three or six months ended June 30, 2017. No allowances for loan losses were reversed during the same period. Contractually required payments receivable of loans purchased with evidence of credit deterioration during the period ended June 30, 2017 are included in the table below. There were no such loans purchased during the year ended December 31, 2016. (In Thousands) 1-4 Family Residential Real Estate $ 1,720 Commercial Real Estate 4,724 Commercial 785 Consumer 4 Total $ 7,233 Cash Flows Expected to be Collected at Acquisition $ 5,721 Fair Value of Acquired Loans at Acquisition $ 4,703 Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $489,000 as of June 30, 2017. |
Mortgage Banking
Mortgage Banking | 6 Months Ended |
Jun. 30, 2017 | |
Mortgage Banking [Abstract] | |
Mortgage Banking [Text Block] | 9. Mortgage Banking Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Gain from sale of mortgage loans $ 1,293 $ 1,426 $ 2,377 $ 2,420 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 924 876 1,858 1,753 Amortization of mortgage servicing rights (403) (434) (715) (745) Mortgage servicing rights valuation adjustments 16 (104) 48 (125) 537 338 1,191 883 Net revenue from sale and servicing of mortgage loans $ 1,830 $ 1,764 $ 3,568 $ 3,303 The unpaid principal balance of residential mortgage loans serviced for third parties was $ 1.38 1.37 Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 10,161 $ 9,879 $ 10,117 $ 9,893 Loans sold, servicing retained 396 461 752 758 Amortization (403) (434) (715) (745) Carrying value before valuation allowance at end of period 10,154 9,906 10,154 9,906 Valuation allowance: Balance at beginning of period (490) (666) (522) (645) Impairment recovery (charges) 16 (104) 48 (125) Balance at end of period (474) (770) (474) (770) Net carrying value of MSRs at end of period $ 9,680 $ 9,136 $ 9,680 $ 9,136 Fair value of MSRs at end of period $ 9,813 $ 9,273 $ 9,813 $ 9,273 Amortization of mortgage servicing rights is computed based on payments and payoffs of the related mortgage loans serviced. Estimates of future amortization expense are not easily estimable . The Company established an accrual for secondary market buy-back activity, a liability of $ 48,000 79,000 31,000 68,000 |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2017 | |
Deposits [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 10. Deposits June 30, December 31, 2017 2016 (In Thousands) Non-interest-bearing checking accounts $ 520,778 $ 487,663 Interest-bearing checking and money market accounts 967,834 816,665 Savings deposits 288,643 243,369 Retail certificates of deposit less than $250,000 499,298 400,080 Retail certificates of deposit greater than $250,000 50,149 33,851 $ 2,326,702 $ 1,981,628 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | 11. Borrowings June 30, December 31, 2017 2016 (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 92,000 $ 92,000 Putable advances 5,000 5,000 Amortizable mortgage advances 7,858 6,943 Fair value adjustment on acquired balances (28) - Total $ 104,830 $ 103,943 Junior subordinated debentures owed to unconsolidated subsidiary trusts $ 36,083 $ 36,083 Notes payable $ 6,500 $ - The putable advance can be put back to the Company at the option of the FHLB on a quarterly basis. A $ 5.0 2.35 March 12, 2018 In March 2007, the Company sponsored an affiliated trust, First Defiance Statutory Trust II (Trust Affiliate II) that issued $ 15 15.5 2.80 2.46 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 The Company also sponsored an affiliated trust, First Defiance Statutory Trust I (Trust Affiliate I), that issued $ 20 20.6 2.68 2.34 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. 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. On December 29, 2016, First Defiance entered into a loan agreement with First Tennessee Bank for a $ 20 1.95 6.5 Repurchase Agreements . 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 Continuous Days 30-90 Days 90 Days Total (In Thousands) At June 30, 2017 Repurchase agreements: Mortgage-backed securities residential $ 6,452 $ - $ - $ - $ 6,452 Collateralized mortgage obligations 17,654 - - - 17,654 Total borrowings $ 24,106 $ - $ - $ - $ 24,106 Gross amount of recognized liabilities for repurchase agreements $ 24,106 Greater Overnight and Up to 30 than Continuous Days 30-90 Days 90 Days Total (In Thousands) At December 31, 2016 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 |
Commitments, Guarantees and Con
Commitments, Guarantees and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments Contingencies and Guarantees [Text Block] | 12. Commitments, Guarantees and Contingent Liabilities Loan commitments are made to accommodate the financial needs of First Federal’s customers; however, there are no long-term, fixed-rate loan commitments that result in market risk. 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. June 30, 2017 December 31, 2016 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 54,910 $ 151,798 $ 34,432 $ 106,356 Unused lines of credit 9,143 411,728 14,384 400,542 Standby letters of credit - 6,576 - 9,668 Total $ 64,053 $ 570,102 $ 48,816 $ 516,566 Commitments to make loans are generally made for periods of 60 In addition to the above commitments, First Defiance had commitments to sell $ 29.0 22.5 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 13. Income Taxes 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. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 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 $ 23.4 14.1 29.0 22.5 June 30, 2017 December 31, 2016 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 $ 774 $ - $ 774 $ 491 $ - $ 491 Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ 218 $ 210 $ 283 $ 430 The above amounts are included in mortgage banking income with gain on sale of mortgage loans. |
Other Comprehensive Income
Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2017 | |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | |
Other Comprehensive Income Loss [Text Block] | 15. Other Comprehensive Income Before Tax Tax Expense Net of Tax Amount (Benefit) Amount (In Thousands) Three months ended June 30, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 2,579 $ (902) $ 1,677 Reclassification adjustment for net gains included in net income (267) 94 (173) Total other comprehensive loss $ 2,312 $ (808) $ 1,504 Six months ended June 30, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 4,158 $ (1,455) $ 2,703 Reclassification adjustment for net gains included in net income (267) 94 (173) Total other comprehensive loss $ 3,891 $ (1,361) $ 2,530 Before Tax Tax Expense Net of Tax Amount (Benefit) Amount (In Thousands) Three months ended June 30, 2016: Securities available for sale: Change in net unrealized gain/loss during the period $ 1,059 $ (370) $ 689 Reclassification adjustment for net gains included in net income (227) 79 (148) Total other comprehensive income $ 832 $ (291) $ 541 Six months ended June 30, 2016: Securities available for sale: Change in net unrealized gain/loss during the period $ 2,509 $ (878) $ 1,631 Reclassification adjustment for net gains included in net income (358) 125 (233) Total other comprehensive income $ 2,151 $ (753) $ 1,398 Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (In Thousands) Balance January 1, 2017 $ 504 $ (289) $ 215 Other comprehensive income before reclassifications 2,703 - 2,703 Amounts reclassified from accumulated other comprehensive income (173) - (173) Net other comprehensive income during period 2,530 - 2,530 Balance June 30, 2017 $ 3,034 $ (289) $ 2,745 Balance January 1, 2016 $ 4,042 $ (420) $ 3,622 Other comprehensive income before reclassifications 1,631 - 1,631 Amounts reclassified from accumulated other comprehensive income (233) - (233) Net other comprehensive income during period 1,398 - 1,398 Balance June 30, 2016 $ 5,440 $ (420) $ 5,020 |
Affordable Housing Projects Tax
Affordable Housing Projects Tax Credit Partnership | 6 Months Ended |
Jun. 30, 2017 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Affordable Housing Program [Text Block] | 16. Affordable Housing Projects Tax Credit Partnership The Company makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (“LIHTC”) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. The Company is a limited partner in each LIHTC Partnership. A separate unrelated third party is the general partner. Each limited partnership is managed by the general partner, who exercises full control over the affairs of the limited partnership. The general partner has all the rights, powers and authority granted or permitted to be granted to a general partner of a limited partnership. Duties entrusted to the general partner of each limited partnership include, but are not limited to: investment in operating companies, company expenditures, investment of excess funds, borrowing funds, employment of agents, disposition of fund property, prepayment and refinancing of liabilities, votes and consents, contract authority, disbursement of funds, accounting methods, tax elections, bank accounts, insurance, litigation, cash reserve, and use of working capital reserve funds. Except for limited rights granted to consent to certain transactions, the limited partner(s) may not participate in the operation, management, or control of the limited partnership’s business, transact any business in the limited partnership’s name or have any power to sign documents for or otherwise bind the limited partnership. In addition, the general partner may only be removed by the limited partner(s) in the event the general partner fails to comply with the terms of the agreement or is negligent in performing its duties. The general partner of each limited partnership has both the power to direct the activities which most significantly affect the performance of each partnership and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. Therefore, the Company has determined that it is not the primary beneficiary of any LIHTC partnership. In January of 2014, the FASB issued ASU 2014-01 “Accounting for Investments in Qualified Affordable Housing Projects.” 6.6 6.8 4.3 4.3 Unfunded Commitments (dollars in thousands) Amount 2017 $ 1,552 2018 1,137 2019 308 2020 179 2021 160 Thereafter 615 Total Unfunded Commitments $ 3,951 Three Months Ended June 30, (dollars in thousands) 2017 2016 Proportional Amortization Method Tax credits and other tax benefits recognized $ 211 $ 157 Amortization expense in federal income taxes 165 119 Six Months Ended June 30, (dollars in thousands) 2017 2016 Proportional Amortization Method Tax credits and other tax benefits recognized $ 422 $ 314 Amortization expense in federal income taxes 330 238 There were no impairment losses of LIHTC investments for the three and six months ended June 30, 2017 and 2016. |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 17. Business Combinations Effective February 24, 2017, the Company acquired Commercial Bancshares, Inc. (“Commercial Bancshares”) and its subsidiary, The Commercial Savings Bank (“CSB”), pursuant to an Agreement and Plan of Merger (“merger agreement”), dated August 23, 2016. The acquisition was accomplished by the merger of Commercial Bancshares into First Defiance, immediately followed by the merger of CSB into First Defiance’s banking subsidiary, First Federal. CSB operated 7 full-service banking offices in northwest and north central, Ohio and 1 commercial loan production office in central Ohio. Commercial Bancshares’ consolidated assets and equity (unaudited) as of February 24, 2017 totaled $ 348.4 37.5 In accordance with ASC 805, the Company expensed approximately $ 3.6 2.8 28.6 4.9 400,000 10 February 24, 2017 (In Thousands) Cash Consideration $ 12,340 Equity Dollar Value of Issued Shares 56,532 Fair Value of Total Consideration Transferred 68,872 Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: Cash and Cash Equivalents 35,411 Federal Funds Sold 2,769 Securities 4,338 Loans 285,448 FHLB Stock of Cincinnati and Other Stock 2,194 Office Properties and Equipment 5,455 Intangible Assets 4,900 Bank-Owned Life Insurance 8,168 Accrued Interest Receivable and Other Assets 3,606 Deposits Non-Interest Bearing (56,061) Deposits Interest Bearing (251,931) Advances from FHLB (1,403) Accrued Interest Payable and Other Liabilities (2,665) Total Identifiable Net Assets 40,229 Goodwill $ 28,643 Under the terms of the merger agreement, Commercial Bancshares common shareholders had the opportunity to elect to receive 1.1808 51.00 80 20 1,139,502 12.3 The following table presents unaudited pro forma information as if the acquisition had occurred on January 1, 2016 after giving effect to certain adjustments. The unaudited pro forma information for the six months ended June 30, 2017 and June 30, 2016 includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, interest expense on deposits and borrowings acquired, and the related income tax effects. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed date. Pro Forma Six Pro Forma Six Months Ended Months Ended June 30, 2017 June 30, 2016 (In Thousands) Net Interest Income $ 48,469 $ 43,912 Provision for loan losses 2,172 741 Non-Interest Income 20,968 17,735 Non-Interest Expense 41,722 37,196 Income Before Income Taxes 25,543 23,710 Income Tax Expense 8,864 7,222 Net Income $ 16,679 $ 16,488 Diluted Earnings Per Share $ 1.66 $ 1.62 The above pro forma financial information includes approximately $ 1.8 3.6 On April 13, 2017, First Defiance and Corporate One Benefits Agency, Inc. (“Corporate One”) jointly announced the acquisition of Corporate One’s business by First Defiance. The total purchase price paid in cash is made up of the following: $ 6.5 500,000 2.3 9.3 2.3 1.8 7.9 756,000 564,000 192,000 |
Significant Accounting Polici27
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
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 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 include the dilutive effect of additional potential common shares issuable under stock options, restricted stock awards and stock grants. |
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 |
New Accounting Pronouncements, Policy [Policy Text Block] | Newly Issued Accounting Standards In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2017-08, “Premium Amortization on Purchased Callable Debt Securities.” This ASU shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not change the accounting for purchased callable debt securities held at a discount; the discount continues to be amortized to maturity. ASU No. 2017-08 is effective for interim and annual reporting periods beginning after December 15, 2018; early adoption is permitted. The guidance calls for a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company plans to adopt the provisions of ASU No. 2017-08 on January 1, 2018 and does not expect the adoption to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “Simplifying the Test for Goodwill Impairment.” In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” 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 has not yet selected a transition method as it is in the process of determining the effect of the ASU on its consolidated financial statements and disclosures. The Company leases certain properties under operating leases that will result in the recognition of lease assets and lease liabilities on the Company’s balance sheet under this ASU, however, the majority of the Company’s properties are owned, not leased. At June 30, 2017, the Company had contractual operating lease commitments of approximately $4.5 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 and the International Accounting Standards Board (the “IASB”) jointly issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under GAAP and International Financial Reporting Standards (“IFRS”). Previous revenue recognition guidance in GAAP consisted of broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. In contrast, IFRS provided limited revenue recognition guidance and, consequently, could be difficult to apply to complex transactions. Accordingly, the FASB and the IASB initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS that would: (1) remove inconsistencies and weaknesses in revenue requirements; (2) provide a more robust framework for addressing revenue issues; (3) improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets; (4) provide more useful information to users of financial statements through improved disclosure requirements; and (5) simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. To meet those objectives, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” “Revenue from Contracts with Customers - Deferral of the Effective Date” “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” “Identifying Performance Obligations and Licensing,” “Narrow-Scope Improvements and Practical Expedients,” “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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 June 30, 2017 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 3,964 $ - $ 3,964 Mortgage-backed - residential - 76,525 - 76,525 REMICs - 1,195 - 1,195 Collateralized mortgage obligations- residential - 68,087 - 68,087 Preferred stock 1 - - 1 Corporate bonds - 13,099 - 13,099 Obligations of state and political subdivisions - 94,704 - 94,704 Mortgage banking derivative - asset - 774 - 774 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- residential - 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 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [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 June 30, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans Commercial Real Estate $ - $ - $ 1,896 $ 1,896 Commercial - - 2,882 2,882 Total Impaired loans - - 4,778 4,778 Mortgage servicing rights - 592 592 Real estate held for sale Commercial Real Estate - - 227 227 Total Real Estate held for sale - - 227 227 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 Commercial Real Estate - - 848 848 Commercial 332 332 Total impaired loans - - 1,496 1,496 Mortgage servicing rights - 657 - 657 Commercial Real Estate - - 377 377 Total Real Estate held for sale - - 377 377 |
Schedule of Fair Value, Assets Measured on Non Recurring Basis [Table Text Block] | For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of June 30, 2017, 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 $ 4,778 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10 % 10 % Real estate held for sale Applies to all classes $ 227 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 3 % 3 % For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2016, 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 $ 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 % |
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 June 30, 2017. Fair Value Measurements at June 30, 2017 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 111,941 $ 111,941 $ 111,941 $ - $ - Investment securities 258,308 258,309 1 258,309 - Federal Home Loan Bank Stock 15,992 N/A N/A N/A N/A Loans, net, including loans held for sale 2,236,459 2,224,321 - 8,411 2,215,910 Accrued interest receivable 8,376 8,376 12 968 7,396 Financial Liabilities: Deposits $ 2,326,702 $ 2,333,984 $ 520,778 $ 1,813,206 $ - Advances from Federal Home Loan Bank 104,830 104,334 - 104,334 - Securities sold under repurchase agreements 24,106 24,106 - 24,106 - Notes Payable 6,500 6,500 6,500 - - Subordinated debentures 36,083 34,709 - - 34,709 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 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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 during the three months ended June 30, 2016 was determined at the date of grant using the Black-Scholes stock option-pricing model and the following assumptions: Six Months ended June 30, 2017 June 30, 2016 Expected average risk-free rate - 2.24 % Expected average life - 10.00 years Expected volatility - 41.00 % Expected dividend yield - 2.33 % |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Following is stock option activity under the plans during the six months ended June 30, 2017: Weighted Average Aggregate Weighted Remaining Intrinsic Options Average Contractual Value Outstanding Exercise Price Term (in years) (in 000’s) Options outstanding, January 1, 2017 54,750 $ 22.21 Forfeited or cancelled - - Exercised (11,550) 24.41 Granted - - Options outstanding, June 30, 2017 43,200 $ 21.62 3.65 $ 1,342 Vested or expected to vest at June 30, 2017 43,200 $ 21.62 3.65 $ 1,342 Exercisable at June 30, 2017 31,100 $ 17.31 2.12 $ 1,100 |
Schedule Of Share Based Compensation Stock Options Plans [Table Text Block] | Proceeds, related tax benefits realized from options exercised and intrinsic value of options exercised were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Proceeds of options exercised $ 65 $ 200 $ 198 $ 490 Related tax benefit recognized 10 36 54 110 Intrinsic value of options exercised 101 161 301 488 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | There was approximately $ 367,000 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, 2017 75,468 $ 32.31 11,161 $ 32.30 Granted 23,384 50.56 21,377 28.39 Vested (19,341) 25.77 (26,980) 26.70 Forfeited (6,973) 25.77 (1,022) 37.02 Unvested at June 30, 2017 72,660 $ 40.54 4,536 $ 46.09 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands, except per share data) Basic Earnings Per Share: Net income available to common shareholders $ 8,347 $ 7,264 $ 13,488 $ 14,433 Less: Income allocated to participating securities 1 3 2 6 Net income allocated to common shareholders 8,346 7,261 13,486 14,427 Weighted average common shares outstanding Including participating securities 10,152 8,979 9,798 8,992 Less: Participating securities 5 11 5 11 Average common shares 10,147 8,968 9,793 8,981 Basic earnings per common share $ 0.82 $ 0.81 1.38 1.61 Diluted Earnings Per Share: Net income allocated to common shareholders $ 8,346 $ 7,261 $ 13,486 14,427 Weighted average common shares outstanding for basic earnings per common share 10,147 8,968 9,793 8,981 Add: Dilutive effects of stock options 57 68 55 69 Average shares and dilutive potential common shares 10,204 9,036 9,848 9,050 Diluted earnings per common share $ 0.82 $ 0.80 1.37 1.59 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Marketable Securities [Abstract] | |
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block] | The following is a summary of available-for-sale and held-to-maturity securities: Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) At June 30, 2017 Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 4,000 $ - $ (36) $ 3,964 Mortgage-backed securities residential 76,018 852 (345) 76,525 REMICs 1,188 7 - 1,195 Collateralized mortgage obligations 67,647 708 (268) 68,087 Trust preferred securities and preferred stock - 1 - 1 Corporate bonds 12,917 182 - 13,099 Obligations of state and political subdivisions 91,138 3,634 (68) 94,704 Totals $ 252,908 $ 5,384 $ (717) $ 257,575 Gross Gross Amortized Unrecognized Unrecognized Cost Gains Losses Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 10 $ - $ - $ 10 FNMA certificates 49 1 - 50 GNMA certificates 20 - - 20 Obligations of state and political subdivisions 654 - - 654 Totals $ 733 $ 1 $ - $ 734 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 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 * FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investments Classified by Contractual Maturity Date [Table Text Block] | These securities may mature earlier than their weighted-average contractual maturities because of principal prepayments. Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Due in one year or less $ 1,213 $ 1,217 $ - $ - Due after one year through five years 22,615 23,027 62 62 Due after five years through ten years 42,929 44,772 592 592 Due after ten years 41,298 42,752 - - MBS/CMO/REMIC 144,853 145,807 79 80 $ 252,908 $ 257,575 $ 733 $ 734 |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables summarize First Defiance’s securities that were in an unrealized loss position at June 30, 2017 and December 31, 2016: 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 June 30, 2017 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 3,964 $ (36) $ - $ - $ 3,964 $ (36) Mortgage-backed securities-residential 21,136 (345) - - 21,136 (345) Collateralized mortgage obligations 21,877 (228) 1,141 (40) 23,018 (268) Obligations of state and political subdivisions 4,167 (68) - - 4,167 (68) Total temporarily impaired securities $ 51,144 $ (677) $ 1,141 $ (40) $ 52,285 $ (717) 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) |
Marketable Securities [Table Text Block] | The proceeds from the sales and calls of securities and the associated gains and losses are listed below: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Proceeds $ 7,727 $ 3,155 $ 7,727 $ 8,515 Gross realized gains 267 227 267 358 Gross realized losses - - - - |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans Receivable, Net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable consist of the following: June 30, December 31, 2017 2016 (In Thousands) Real Estate: Secured by 1-4 family residential $ 276,578 $ 207,550 Secured by multi-family residential 208,770 196,983 Secured by commercial real estate 973,317 843,579 Construction 234,688 182,886 1,693,353 1,430,998 Other Loans: Commercial 515,004 469,055 Home equity and improvement 130,429 118,429 Consumer finance 28,860 16,680 674,293 604,164 Total loans 2,367,646 2,035,162 Deduct: Undisbursed loan funds (112,000) (93,355) Net deferred loan origination fees and costs (1,211) (1,320) Allowance for loan loss (25,915) (25,884) Totals $ 2,228,520 $ 1,914,603 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | The following table discloses allowance for loan loss activity for the quarters ended June 30, 2017 and 2016 by portfolio segment (In Thousands): Quarter Ended June 30, 2017 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,621 $ 2,122 $ 10,210 $ 458 $ 7,809 $ 2,300 $ 229 $ 25,749 Charge-Offs 0 0 (110 ) 0 (2,027 ) (100 ) (21 ) (2,258 ) Recoveries 33 0 83 0 94 26 70 306 Provisions (13 ) 71 (47 ) 82 2,097 (27 ) (45 ) 2,118 Ending Allowance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Quarter Ended June 30, 2016 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 3,109 $ 2,250 $ 11,644 $ 489 $ 5,820 $ 2,232 $ 124 $ 25,668 Charge-Offs (37 ) 0 0 0 (19 ) (66 ) (17 ) (139 ) Recoveries 34 0 229 0 56 34 13 366 Provisions (267 ) 115 (969 ) 144 883 78 69 53 Ending Allowance $ 2,839 $ 2,365 $ 10,904 $ 633 $ 6,740 $ 2,278 $ 189 $ 25,948 The following table discloses allowance for loan loss activity for the year-to-date periods ended June 30, 2017 and June 30, 2016 by portfolio segment and impairment method (In Thousands): Year-to-date Period Ended June 30, 2017 1-4 Family Multi- Commercial Construction Commercial Home Equity and Consumer Total Beginning Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Charge-Offs (49 ) 0 (400 ) 0 (2,027 ) (154 ) (92 ) (2,722 ) Recoveries 89 32 117 0 210 59 74 581 Provisions (26 ) (67 ) (206 ) 90 2,429 (92 ) 44 2,172 Ending Allowance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Year-to-date Period Ended June 30, 2016 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Improvement Consumer Total Beginning Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Charge-Offs (92 ) 0 (13 ) 0 (355 ) (96 ) (17 ) (573 ) Recoveries 120 0 406 0 75 73 48 722 Provisions (401 ) 214 (1,261 ) 116 1,765 (3 ) (13 ) 417 Ending Allowance $ 2,839 $ 2,365 $ 10,904 $ 633 $ 6,740 $ 2,278 $ 189 $ 25,948 |
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 June 30, 2017 (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 $ 182 $ 3 $ 127 $ - $ 48 $ 285 $ - $ 645 Collectively evaluated for impairment 2,459 2,190 10,009 540 7,925 1,914 233 25,270 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Loans: Loans individually evaluated for impairment $ 6,905 $ 2,117 $ 28,557 $ - $ 11,843 $ 1,214 $ 55 $ 50,691 Loans collectively evaluated for impairment 269,090 206,615 945,730 122,812 504,289 129,683 28,805 2,207,024 Loans acquired with deteriorated credit quality 1,100 304 2,375 - 337 - - 4,116 Total ending loans balance $ 277,095 $ 209,036 $ 976,662 $ 122,812 $ 516,469 $ 130,897 $ 28,860 $ 2,261,831 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 |
Loans Receivable, Impaired, Interest Income, Cash Basis Method [Table Text Block] | The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Interest Cash Basis Interest Cash Basis Average Income Income Average Income Income Balance Recognized Recognized Balance Recognized Recognized Residential Owner Occupied $ 4,088 $ 34 $ 34 $ 3,454 $ 62 $ 62 Residential Non Owner Occupied 2,813 35 35 3,352 71 71 Total Residential Real Estate 6,901 69 69 6,806 133 133 Construction - - - - - - Multi-Family 2,144 9 9 2,759 19 19 CRE Owner Occupied 12,098 24 24 8,356 46 48 CRE Non Owner Occupied 3,552 31 30 4,026 73 67 Agriculture Land 9,903 140 63 6,305 187 82 Other CRE 1,654 10 8 1,661 23 20 Total Commercial Real Estate 27,207 205 125 20,348 329 217 Commercial Working Capital 5,939 29 29 4,156 48 52 Commercial Other 7,731 30 21 4,726 51 33 Total Commercial 13,670 59 50 8,882 99 85 Home Equity and Improvement 1,223 11 11 1,239 21 21 Consumer Finance 58 1 1 66 2 3 Total Impaired Loans $ 51,203 $ 354 $ 265 $ 40,100 $ 603 $ 478 The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Interest Cash Basis Interest Cash Basis Average Income Income Average Income Income Balance Recognized Recognized Balance Recognized Recognized Residential Owner Occupied $ 3,774 $ 36 $ 34 $ 3,900 $ 75 $ 73 Residential Non Owner Occupied 3,211 31 31 3,384 66 65 Total Residential Real Estate 6,985 67 65 7,284 141 138 Construction - - - - - - Multi-Family 4,063 24 24 4,328 54 54 CRE Owner Occupied 7,169 42 37 8,130 104 85 CRE Non Owner Occupied 4,900 52 53 4,659 105 102 Agriculture Land 1,838 15 2 2,716 50 14 Other CRE 1,675 14 14 1,548 18 18 Total Commercial Real Estate 15,582 123 106 17,053 277 219 Commercial Working Capital 1,535 15 7 1,524 30 22 Commercial Other 1,783 9 9 3,014 28 27 Total Commercial 3,318 24 16 4,538 58 49 Home Equity and Improvement 1,699 13 13 1,724 28 28 Consumer Finance 68 1 1 71 2 2 Total Impaired Loans $ 31,715 $ 252 $ 225 $ 34,998 $ 560 $ 490 |
Impaired Financing Receivables [Table Text Block] | The following table presents loans individually evaluated for impairment by class of loans (In Thousands): June 30, 2017 December 31, 2016 Allowance Allowance Unpaid for Loan Unpaid for Loan Principal Recorded Losses Principal Recorded Losses Balance* Investment Allocated Balance* Investment Allocated With no allowance recorded: Residential Owner Occupied $ 2,257 $ 2,110 $ - $ 1,912 $ 1,765 $ - Residential Non Owner Occupied 1,786 1,781 - 1,691 1,683 - Total 1-4 Family Residential Real Estate 4,043 3,891 - 3,603 3,448 - Multi-Family Residential Real Estate 2,066 2,067 - 3,578 3,430 - CRE Owner Occupied 10,255 9,753 - 2,652 2,353 - CRE Non Owner Occupied 3,446 3,223 - 4,372 4,240 - Agriculture Land 11,145 11,362 - 1,695 1,722 - Other CRE 748 751 - 1,225 1,115 - Total Commercial Real Estate 25,594 25,089 - 9,944 9,430 - Construction - - - - - - Commercial Working Capital 5,780 5,804 - 838 786 - Commercial Other 6,400 4,770 - 1,179 967 - Total Commercial 12,180 10,574 - 2,017 1,753 - Home Equity and Home Improvement 635 590 - 631 585 - Consumer Finance 48 49 - 55 55 $ - Total loans with no allowance recorded $ 44,566 $ 42,260 $ - $ 19,828 $ 8,701 With an allowance recorded: Residential Owner Occupied $ 1,980 $ 1,960 $ 147 $ 2,348 $ 2,319 $ 157 Residential Non Owner Occupied 1,062 1,054 35 1,137 1,131 45 Total 1-4 Family Residential Real Estate 3,042 3,014 182 3,485 3,450 202 Multi-Family Residential Real Estate 50 50 3 53 53 4 CRE Owner Occupied 2,585 2,189 57 2,362 1,894 102 CRE Non Owner Occupied 303 304 16 1,618 1,479 108 Agriculture Land 109 110 3 45 45 3 Other CRE 1,283 865 51 1,144 722 42 Total Commercial Real Estate 4,280 3,468 127 5,169 4,140 255 Construction - - - - - - Commercial Working Capital 173 173 18 230 231 24 Commercial Other 1,094 1,096 30 167 170 11 Total Commercial 1,267 1,269 48 397 401 35 Home Equity and Home Improvement 628 624 285 688 684 313 Consumer Finance 6 6 - 4 4 - Total loans with an allowance recorded $ 9,273 $ 8,431 $ 645 $ 9,796 $ 8,732 $ 809 * 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: June 30, December 31, 2017 2016 (In Thousands) Non-accrual loans $ 30,359 $ 14,348 Loans over 90 days past due and still accruing - - Total non-performing loans 30,359 14,348 Real estate and other assets held for sale 672 455 Total non-performing assets $ 31,031 $ 14,803 Troubled debt restructuring, still accruing $ 10,521 $ 10,544 |
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 June 30, 2017 by class of loans (In Thousands): Total Total Non- Current 30-59 days 60-89 days 90+ days Past Due Accrual Residential Owner Occupied $ 176,884 $ 537 $ 2,084 $ 945 $ 3,566 $ 2,442 Residential Non Owner Occupied 96,023 116 7 499 622 698 Total 1-4 Family Residential Real Estate 272,907 653 2,091 1,444 4,188 3,140 Multi-Family Residential Real Estate 209,036 - - - - 1,397 CRE Owner Occupied 377,932 - 175 1,109 1,284 10,598 CRE Non Owner Occupied 393,718 79 - 686 765 3,641 Agriculture Land 135,173 1,161 66 231 1,458 2,245 Other Commercial Real Estate 66,332 - - - - 1,024 Total Commercial Real Estate 973,155 1,240 241 2,026 3,507 17,508 Construction 122,569 - - 243 243 243 Commercial Working Capital 233,294 394 - 273 667 3,519 Commercial Other 282,056 98 68 286 452 3,948 Total Commercial 515,350 492 68 559 1,119 7,467 Home Equity/Home Improvement 129,544 1,054 178 121 1,353 556 Consumer Finance 28,601 160 57 42 259 51 Total Loans $ 2,251,162 $ 3,599 $ 2,635 $ 4,435 $ 10,669 $ 30,362 Loans acquired with deteriorated credit quality (included in the totals above) $ 3,824 $ 102 $ - $ 190 $ 292 $ 2,014 Loans acquired in current year (included in totals above) $ 260,066 $ 2,202 $ 175 $ 527 $ 2,904 $ 2,496 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): Total Total Non- Current 30-59 days 60-89 days 90+ days Past Due Accrual 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 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following tables present loans by class modified as TDRs that occurred during the three month periods and six month periods ending June 30, 2017 and June 30, 2016: Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Months Ended June 30, 2017 Months Ended June 30, 2017 ($ in thousands) ($ in thousands) Number of Recorded Investment Number of Recorded Investment Troubled Debt Restructurings Loans (as of period end) Loans (as of period end) 1-4 Family Owner Occupied 4 $ 413 8 $ 512 1-4 Family Non Owner Occupied 1 23 3 106 Multi Family 0 - 0 - CRE Owner Occupied 0 - 1 117 CRE Non Owner Occupied 0 - 0 - Agriculture Land 2 1,450 2 1,450 Other CRE 2 196 2 196 Commercial Working Capital 5 2,563 5 2,563 Commercial Other 3 3,467 4 3,513 Home Equity and Improvement 1 57 2 82 Consumer Finance 0 - 2 5 Total 18 $ 8,169 29 $ 8,544 The loans described above decreased the ALLL by $ 5,000 decreased the ALLL by $ 24,000 Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Months Ended June 30, 2016 Months Ended June 30, 2016 ($ in thousands) ($ in thousands) Number of Recorded Investment Number of Recorded Investment Troubled Debt Restructurings Loans (as of period end) Loans (as of period end) 1-4 Family Owner Occupied 4 $ 115 5 $ 124 1-4 Family Non Owner Occupied 0 - 2 124 Multi Family 1 55 1 55 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 2 671 2 671 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 1 226 1 226 Commercial Other 1 606 1 606 Home Equity and Improvement 2 56 5 325 Consumer Finance 1 6 3 9 Total 12 $ 1,735 20 $ 2,140 |
Troubled Debt Restructurings on Payments [Table Text Block] | The following tables present loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the three and six month periods ended June 30, 2017 and June 30, 2016: Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 1 225 1 225 Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 1 $ 225 1 $ 225 The TDRs that subsequently defaulted described above had no effect on the allowance for loan losses for the three and six month periods ended June 30, 2017. Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 ($ in thousands) ($ in thousands) Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment That Subsequently Defaulted Loans (as of period end) Loans (as of period end) 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 1 15 1 15 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 0 - Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 1 $ 15 1 $ 15 |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of June 30, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Special Not Class Pass Mention Substandard Doubtful Graded Total 1-4 Family Owner Occupied $ 7,569 $ 664 $ 2,306 $ - $ 169,912 $ 180,451 1-4 Family Non Owner Occupied 86,082 1,854 3,463 - 5,245 96,644 Total 1-4 Family Real Estate 93,651 2,518 5,769 - 175,157 277,095 Multi-Family Residential Real Estate 205,834 548 2,541 - 113 209,036 CRE Owner Occupied 353,499 13,245 12,219 - 253 379,216 CRE Non Owner Occupied 384,585 4,007 5,890 - - 394,482 Agriculture Land 120,240 3,476 12,915 - - 136,631 Other CRE 63,303 211 2,014 - 805 66,333 Total Commercial Real Estate 921,627 20,939 33,038 - 1,058 976,662 Construction 100,933 1,080 - - 20,799 122,812 Commercial Working Capital 220,163 7,442 6,355 - - 233,960 Commercial Other 271,722 4,094 6,693 - - 282,509 Total Commercial 491,885 11,536 13,048 - - 516,469 Home Equity and Home Improvement - - 622 - 130,275 130,897 Consumer Finance - - 132 - 28,728 28,860 Total Loans $ 1,813,930 $ 36,621 $ 55,150 $ - $ 356,130 $ 2,261,831 Loans acquired with deteriorated credit quality (included in the totals above) $ 45 $ 1,338 $ 2,729 - $ 4 $ 4,116 Loans acquired in current year (included in totals above) $ 201,437 $ 2,616 $ 11,421 - $ 47,496 $ 262,970 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): Special Not Class Pass Mention Substandard Doubtful Graded 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 |
Schedule of Deterioration of Credit Quality Contractual Purchased Loans [Table Text Block] | June 30, 2017 1-4 Family Residential Real Estate $ 1,195 Commercial Real Estate Loans 3,883 Commercial 418 Consumer 3 Total Outstanding Balance $ 5,499 Recorded Investment, net of allowance of $0 $ 4,116 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments [Table Text Block] | Accretable yield, or income expected to be collected, is as follows: 2017 Balance at January 1 $ - New Loans Purchased 1,018 Accretion of Income (76) Reclassifications from Non-accretable - Charge-off of Accretable Yield (8) Balance at June 30 $ 934 |
Schedule of Contractually Required Payments Receivable of Loans Purchased with Evidence of Credit Deterioration [Table Text Block] | Contractually required payments receivable of loans purchased with evidence of credit deterioration during the period ended June 30, 2017 are included in the table below. There were no such loans purchased during the year ended December 31, 2016. (In Thousands) 1-4 Family Residential Real Estate $ 1,720 Commercial Real Estate 4,724 Commercial 785 Consumer 4 Total $ 7,233 |
Mortgage Banking (Tables)
Mortgage Banking (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Mortgage Banking [Abstract] | |
Mortgage Loans [Table Text Block] | Net revenues from the sales and servicing of mortgage loans consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Gain from sale of mortgage loans $ 1,293 $ 1,426 $ 2,377 $ 2,420 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 924 876 1,858 1,753 Amortization of mortgage servicing rights (403) (434) (715) (745) Mortgage servicing rights valuation adjustments 16 (104) 48 (125) 537 338 1,191 883 Net revenue from sale and servicing of mortgage loans $ 1,830 $ 1,764 $ 3,568 $ 3,303 |
Capitalized Mortgage and Valuation Allowance [Table Text Block] | Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three and six months ended June 30, 2017 and 2016: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 10,161 $ 9,879 $ 10,117 $ 9,893 Loans sold, servicing retained 396 461 752 758 Amortization (403) (434) (715) (745) Carrying value before valuation allowance at end of period 10,154 9,906 10,154 9,906 Valuation allowance: Balance at beginning of period (490) (666) (522) (645) Impairment recovery (charges) 16 (104) 48 (125) Balance at end of period (474) (770) (474) (770) Net carrying value of MSRs at end of period $ 9,680 $ 9,136 $ 9,680 $ 9,136 Fair value of MSRs at end of period $ 9,813 $ 9,273 $ 9,813 $ 9,273 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Deposits [Abstract] | |
Deposits [Table Text Block] | A summary of deposit balances is as follows: June 30, December 31, 2017 2016 (In Thousands) Non-interest-bearing checking accounts $ 520,778 $ 487,663 Interest-bearing checking and money market accounts 967,834 816,665 Savings deposits 288,643 243,369 Retail certificates of deposit less than $250,000 499,298 400,080 Retail certificates of deposit greater than $250,000 50,149 33,851 $ 2,326,702 $ 1,981,628 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Subordinated Borrowings [Abstract] | |
Federal Home Loan Bank Advances Disclosure [Table Text Block] | First Defiance’s debt, FHLB advances and junior subordinated debentures owed to unconsolidated subsidiary trusts are comprised of the following: June 30, December 31, 2017 2016 (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 92,000 $ 92,000 Putable advances 5,000 5,000 Amortizable mortgage advances 7,858 6,943 Fair value adjustment on acquired balances (28) - Total $ 104,830 $ 103,943 Junior subordinated debentures owed to unconsolidated subsidiary trusts $ 36,083 $ 36,083 Notes payable $ 6,500 $ - |
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 June 30, 2017 and December 31, 2016 is presented in the following tables. Greater Overnight and Up to 30 than Continuous Days 30-90 Days 90 Days Total (In Thousands) At June 30, 2017 Repurchase agreements: Mortgage-backed securities residential $ 6,452 $ - $ - $ - $ 6,452 Collateralized mortgage obligations 17,654 - - - 17,654 Total borrowings $ 24,106 $ - $ - $ - $ 24,106 Gross amount of recognized liabilities for repurchase agreements $ 24,106 Greater Overnight and Up to 30 than Continuous Days 30-90 Days 90 Days Total (In Thousands) At December 31, 2016 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 |
Commitments, Guarantees and C36
Commitments, Guarantees and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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 as of the periods stated below were as follows (In Thousands): June 30, 2017 December 31, 2016 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 54,910 $ 151,798 $ 34,432 $ 106,356 Unused lines of credit 9,143 411,728 14,384 400,542 Standby letters of credit - 6,576 - 9,668 Total $ 64,053 $ 570,102 $ 48,816 $ 516,566 |
Derivative Financial Instrume37
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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 recorded in other assets in the Consolidated Statements of Condition. The table below provides data about the carrying values of these derivative instruments: June 30, 2017 December 31, 2016 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 $ 774 $ - $ 774 $ 491 $ - $ 491 |
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: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ 218 $ 210 $ 283 $ 430 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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. Before Tax Tax Expense Net of Tax Amount (Benefit) Amount (In Thousands) Three months ended June 30, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 2,579 $ (902) $ 1,677 Reclassification adjustment for net gains included in net income (267) 94 (173) Total other comprehensive loss $ 2,312 $ (808) $ 1,504 Six months ended June 30, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 4,158 $ (1,455) $ 2,703 Reclassification adjustment for net gains included in net income (267) 94 (173) Total other comprehensive loss $ 3,891 $ (1,361) $ 2,530 Before Tax Tax Expense Net of Tax Amount (Benefit) Amount (In Thousands) Three months ended June 30, 2016: Securities available for sale: Change in net unrealized gain/loss during the period $ 1,059 $ (370) $ 689 Reclassification adjustment for net gains included in net income (227) 79 (148) Total other comprehensive income $ 832 $ (291) $ 541 Six months ended June 30, 2016: Securities available for sale: Change in net unrealized gain/loss during the period $ 2,509 $ (878) $ 1,631 Reclassification adjustment for net gains included in net income (358) 125 (233) Total other comprehensive income $ 2,151 $ (753) $ 1,398 |
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, 2017 $ 504 $ (289) $ 215 Other comprehensive income before reclassifications 2,703 - 2,703 Amounts reclassified from accumulated other comprehensive income (173) - (173) Net other comprehensive income during period 2,530 - 2,530 Balance June 30, 2017 $ 3,034 $ (289) $ 2,745 Balance January 1, 2016 $ 4,042 $ (420) $ 3,622 Other comprehensive income before reclassifications 1,631 - 1,631 Amounts reclassified from accumulated other comprehensive income (233) - (233) Net other comprehensive income during period 1,398 - 1,398 Balance June 30, 2016 $ 5,440 $ (420) $ 5,020 |
Affordable Housing Projects T39
Affordable Housing Projects Tax Credit Partnership (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Other Commitments [Table Text Block] | As of June 30, 2017, the expected payments for unfunded affordable housing commitments were as follows: (dollars in thousands) Amount 2017 $ 1,552 2018 1,137 2019 308 2020 179 2021 160 Thereafter 615 Total Unfunded Commitments $ 3,951 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three and six months ended June 30, 2017 and 2016. Three Months Ended June 30, (dollars in thousands) 2017 2016 Proportional Amortization Method Tax credits and other tax benefits recognized $ 211 $ 157 Amortization expense in federal income taxes 165 119 Six Months Ended June 30, (dollars in thousands) 2017 2016 Proportional Amortization Method Tax credits and other tax benefits recognized $ 422 $ 314 Amortization expense in federal income taxes 330 238 |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the fair value of the total consideration transferred as part of the Commercial Bancshares acquisition as well as the fair value of identifiable assets and liabilities assumed as of the effective date of the transaction. February 24, 2017 (In Thousands) Cash Consideration $ 12,340 Equity Dollar Value of Issued Shares 56,532 Fair Value of Total Consideration Transferred 68,872 Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: Cash and Cash Equivalents 35,411 Federal Funds Sold 2,769 Securities 4,338 Loans 285,448 FHLB Stock of Cincinnati and Other Stock 2,194 Office Properties and Equipment 5,455 Intangible Assets 4,900 Bank-Owned Life Insurance 8,168 Accrued Interest Receivable and Other Assets 3,606 Deposits Non-Interest Bearing (56,061) Deposits Interest Bearing (251,931) Advances from FHLB (1,403) Accrued Interest Payable and Other Liabilities (2,665) Total Identifiable Net Assets 40,229 Goodwill $ 28,643 |
Business Acquisition, Pro Forma Information [Table Text Block] | Pro Forma Six Pro Forma Six Months Ended Months Ended June 30, 2017 June 30, 2016 (In Thousands) Net Interest Income $ 48,469 $ 43,912 Provision for loan losses 2,172 741 Non-Interest Income 20,968 17,735 Non-Interest Expense 41,722 37,196 Income Before Income Taxes 25,543 23,710 Income Tax Expense 8,864 7,222 Net Income $ 16,679 $ 16,488 Diluted Earnings Per Share $ 1.66 $ 1.62 |
Significant Accounting Polici41
Significant Accounting Policies (Details Textual) $ in Millions | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Property, Plant and Equipment [Line Items] | |
Operating Leases, Future Minimum Payments Due | $ 4.5 |
Noncompete Agreements [Member] | |
Property, Plant and Equipment [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 5 years |
Customer Contracts [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 20 years |
Customer Contracts [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 10 years |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 257,575 | $ 250,992 |
Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 68,087 | 63,005 |
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 | 68,087 | 63,005 |
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 | 3,964 | 3,915 |
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 | 3,964 | 3,915 |
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 | 76,525 | 81,707 |
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 | 76,525 | 81,707 |
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 | 1,195 | 1,307 |
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 | 1,195 | 1,307 |
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 | 1 | 2 |
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1 | 2 |
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 | 13,099 | 13,013 |
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 | 13,099 | 13,013 |
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 | 94,704 | 88,043 |
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 | 94,704 | 88,043 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | |
Mortgage Banking Derivative Asset [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 774 | 491 |
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 | 774 | 491 |
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 | Jun. 30, 2017 | Dec. 31, 2016 |
Impaired loans | ||
Total impaired loans | $ 4,778 | $ 1,496 |
Mortgage servicing rights | 592 | 657 |
Real estate held for sale | ||
Total real estate held for sale | 227 | 377 |
One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 316 | |
Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 1,896 | 848 |
Real estate held for sale | ||
Total real estate held for sale | 227 | 377 |
Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | 2,882 | 332 |
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 | |
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] | Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 592 | 657 |
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 | |
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] | Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | ||
Total impaired loans | 4,778 | 1,496 |
Mortgage servicing rights | 0 | |
Real estate held for sale | ||
Total real estate held for sale | 227 | 377 |
Fair Value, Inputs, Level 3 [Member] | One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 316 | |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 1,896 | 848 |
Real estate held for sale | ||
Total real estate held for sale | 227 | 377 |
Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | $ 2,882 | $ 332 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 4,778 | $ 1,496 |
Real estate held for sale - Applies to all classes, Fair Value | 227 | 377 |
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 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for collection issues and changes in market conditions | |
Fair Value, Range of Input, Minimum | 10.00% | |
Fair Value, Range of Input, Maximum | 30.00% | |
Fair Value Measurement Weighted Average Range | 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% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 4,778 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for collection issues and changes in market conditions | |
Fair Value Measurement Range Of Input | 10.00% | |
Fair Value Measurement Weighted Average Range | 10.00% | |
Range of Input 3% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Real estate held for sale - Applies to all classes, Fair Value | $ 227 | |
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 Measurement Range Of Input | 3.00% | |
Fair Value Measurement Weighted Average Range | 3.00% |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Financial Assets, Carrying Value: | ||||
Cash and cash equivalents, Carrying Value | $ 111,941 | $ 99,003 | $ 130,546 | $ 79,769 |
Investment securities, Carrying Value | 258,308 | 251,176 | ||
Federal Home Loan Bank Stock, Carrying Value | 15,992 | 13,798 | ||
Loans, net, including loans held for sale, Carrying Value | 2,236,459 | 1,924,210 | ||
Accrued interest receivable, Carrying Value | 8,376 | 6,760 | ||
Financial Liabilities, Carrying Value: | ||||
Deposits, Carrying Value | 2,326,702 | 1,981,628 | ||
Advances from Federal Home Loan Bank, Carrying Value | 104,830 | 103,943 | ||
Securities sold under repurchase agreements, Carrying Value | 24,106 | 31,816 | ||
Notes Payable, Carrying Value | 6,500 | 0 | ||
Subordinated debentures, Carrying Value | 36,083 | 36,083 | ||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 111,941 | 99,003 | ||
Investment securities, Fair Value | 258,309 | 251,179 | ||
Loans, net, including loans held for sale, Fair Value | 2,224,321 | 1,911,280 | ||
Accrued interest receivable, Fair Value | 8,376 | 6,760 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 2,333,984 | 1,987,723 | ||
Advances from Federal Home Loan Bank, Fair Value | 104,334 | 103,019 | ||
Securities sold under repurchase agreements, Fair Value | 24,106 | 31,816 | ||
Notes Payable, Fair Value | 6,500 | |||
Subordinated debentures, Fair Value | 34,709 | 34,718 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 111,941 | 99,003 | ||
Investment securities, Fair Value | 1 | 2 | ||
Loans, net, including loans held for sale, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 12 | 9 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 520,778 | 487,663 | ||
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ||
Securities sold under repurchase agreements, Fair Value | 0 | 0 | ||
Notes Payable, Fair Value | 6,500 | |||
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 | 258,309 | 251,177 | ||
Loans, net, including loans held for sale, Fair Value | 8,411 | 9,917 | ||
Accrued interest receivable, Fair Value | 968 | 867 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,813,206 | 1,500,060 | ||
Advances from Federal Home Loan Bank, Fair Value | 104,334 | 103,019 | ||
Securities sold under repurchase agreements, Fair Value | 24,106 | 31,816 | ||
Notes Payable, Fair Value | 0 | |||
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 | 2,215,910 | 1,901,363 | ||
Accrued interest receivable, Fair Value | 7,396 | 5,884 | ||
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 | ||
Notes Payable, Fair Value | 0 | |||
Subordinated debentures, Fair Value | $ 34,709 | $ 34,718 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 4,778,000 | $ 4,778,000 | $ 1,496,000 | ||
Impaired Financing Receivables, Provisional Expenses | 605,000 | $ 98,000 | 813,000 | $ 719,000 | |
Mortgage Servicing Rights at Fair Value | 592,000 | 592,000 | 657,000 | ||
Valuation Allowance of Mortgage Servicing Rights | 474,000 | 474,000 | 522,000 | ||
Proceeds from Collection of Loans Receivable | 16,000 | 104,000 | 48,000 | 125,000 | |
Real Estate Held-for-sale, Increase (Decrease) in Fair Value | 20,000 | $ 0 | 20,000 | $ 53,000 | |
Impaired Financing Receivable, Related Allowance | 645,000 | 645,000 | 809,000 | ||
Collateral Dependent Loan [Member] | |||||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 4,800,000 | 4,800,000 | 1,500,000 | ||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 1,000 | ||
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% |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Expected average risk-free rate | 0.00% | 2.24% |
Expected average life | 0 years | 10 years |
Expected volatility | 0.00% | 41.00% |
Expected dividend yield | 0.00% | 2.33% |
Stock Compensation Plans (Det48
Stock Compensation Plans (Details 1) $ / shares in Units, $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($)$ / sharesshares | |
Options Outstanding, January 1, 2017 | shares | 54,750 |
Options Outstanding, Forfeited or cancelled | shares | 0 |
Options Outstanding, Exercised | shares | (11,550) |
Options Outstanding, Granted | shares | 0 |
Options outstanding, June 30, 2017 | shares | 43,200 |
Options Outstanding, Vested or expected to vest at June 30, 2017 | shares | 43,200 |
Options Outstanding, Exercisable at June 30, 2017 | shares | 31,100 |
Weighted Average Exercise Price, Outstanding, January 1, 2017 | $ / shares | $ 22.21 |
Weighted Average Exercise Price, Forfeited or cancelled | $ / shares | 0 |
Weighted Average Exercise Price, Exercised | $ / shares | 24.41 |
Weighted Average Exercise Price, Granted | $ / shares | 0 |
Weighted Average Exercise Price, outstanding, June 30, 2017 | $ / shares | 21.62 |
Weighted Average Exercise Price, Vested or expected to vest at June 30, 2017 | $ / shares | 21.62 |
Weighted Average Exercise Price, Exercisable at June 30, 2017 | $ / shares | $ 17.31 |
Weighted Average Remaining Contractual Term (in years), outstanding, June 30, 2017 | 3 years 7 months 24 days |
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest at June 30, 2017 | 3 years 7 months 24 days |
Weighted Average Remaining Contractual Term (in years), Exercisable at June 30, 2017 | 2 years 1 month 13 days |
Aggregate Intrinsic Value, outstanding, June 30, 2017 | $ | $ 1,342 |
Aggregate Intrinsic Value, Vested or expected to vest at June 30, 2017 | $ | 1,342 |
Aggregate Intrinsic Value, Exercisable at June 30, 2017 | $ | $ 1,100 |
Stock Compensation Plans (Det49
Stock Compensation Plans (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Proceeds of options exercised | $ 65 | $ 200 | $ 198 | $ 490 |
Related tax benefit recognized | 10 | 36 | 54 | 110 |
Intrinsic value of options exercised | $ 101 | $ 161 | $ 301 | $ 488 |
Stock Compensation Plans (Det50
Stock Compensation Plans (Details 3) | 6 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Restricted Stock Units (RSUs) [Member] | |
Shares, Unvested at January 1, 2017 | shares | 75,468 |
Shares, Granted | shares | 23,384 |
Shares, Vested | shares | (19,341) |
Shares, Forfeited | shares | (6,973) |
Shares, Unvested at June 30, 2017 | shares | 72,660 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2017 | $ / shares | $ 32.31 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 50.56 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 25.77 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 25.77 |
Weighted-Average Grant Date Fair Value, Unvested at June 30, 2017 | $ / shares | $ 40.54 |
Stock Grants [Member] | |
Shares, Unvested at January 1, 2017 | shares | 11,161 |
Shares, Granted | shares | 21,377 |
Shares, Vested | shares | (26,980) |
Shares, Forfeited | shares | (1,022) |
Shares, Unvested at June 30, 2017 | shares | 4,536 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2017 | $ / shares | $ 32.3 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 28.39 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 26.70 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 37.02 |
Weighted-Average Grant Date Fair Value, Unvested at June 30, 2017 | $ / shares | $ 46.09 |
Stock Compensation Plans (Det51
Stock Compensation Plans (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Mar. 15, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 43,200 | 43,200 | 54,750 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $ 130,000 | $ 130,000 | |||||
Employee Service Share Based Compensation Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition (in years) | 2 years 8 months 12 days | ||||||
Allocated Share-based Compensation Expense | 266,000 | $ 446,000 | $ 1,100,000 | $ 707,000 | |||
Compensation Expense, Maximum | 3,800,000 | 3,800,000 | |||||
Estimated Compensation Expense, Excepted | 3,300,000 | 3,300,000 | |||||
Unrecognized Compensation Expense | $ 1,700,000 | $ 1,700,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 1 | $ 13.95 | ||||||
Restricted Stock Units (Rsus) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 4,763 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 72,660 | 72,660 | |||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period | 4,569 | ||||||
Director [Member] | Restricted Stock Units (Rsus) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 1 | 1 year | ||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period | 1,839 | ||||||
Equity Plan 2010 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 350,000 | ||||||
Stock Option Grant, 2009 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 20.00% | ||||||
Long Term Equity Incentive Plan 2014 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 19,219 | ||||||
Long Term Equity Incentive Plan 2016 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,526 | ||||||
Long Term Equity Incentive Plan 2016 [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | 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% | 10.00% | |||||
Long Term Equity Incentive Plan 2017 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 20,657 | ||||||
Long Term Equity Incentive Plan 2017 [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 20.00% | 20.00% | |||||
Short Term Equity Incentive Plan 2017 [Member] | |||||||
Allocated Share-based Compensation Expense | $ 367,000 | ||||||
Short Term Equity Incentive Plan 2017 [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | 45.00% | |||||
Employees [Member] | Director [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 1 | 3 years | ||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period | 2,924 |
Dividends on Common Stock (Deta
Dividends on Common Stock (Details Textual) - $ / shares | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.25 | $ 0.25 | ||||
Common Stock, Dividends, Per Share, Declared | $ 0.25 | $ 0.22 | $ 0.22 | $ 0.50 | $ 0.44 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Basic Earnings Per Share: | ||||
Net income available to common shareholders | $ 8,347 | $ 7,264 | $ 13,488 | $ 14,433 |
Less: Income allocated to participating securities | 1 | 3 | 2 | 6 |
Net income allocated to common shareholders | $ 8,346 | $ 7,261 | $ 13,486 | $ 14,427 |
Weighted average common shares outstanding Including participating securities | 10,152 | 8,979 | 9,798 | 8,992 |
Less: Participating securities | 5 | 11 | 5 | 11 |
Average common shares | 10,147 | 8,968 | 9,793 | 8,981 |
Basic earnings per common share | $ 0.82 | $ 0.81 | $ 1.38 | $ 1.61 |
Diluted Earnings Per Share: | ||||
Net income allocated to common shareholders | $ 8,346 | $ 7,261 | $ 13,486 | $ 14,427 |
Weighted average common shares outstanding for basic earnings per common share | 10,147 | 8,968 | 9,793 | 8,981 |
Add: Dilutive effects of stock options | 57 | 68 | 55 | 69 |
Average shares and dilutive potential common shares | 10,204 | 9,036 | 9,848 | 9,050 |
Diluted earnings per common share | $ 0.82 | $ 0.8 | $ 1.37 | $ 1.59 |
Earnings Per Common Share (De54
Earnings Per Common Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 10,204 | 9,036 | 9,848 | 9,050 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | $ 252,908 | $ 250,216 | |
Available-for-Sale Securities, Gross Unrealized Gains | 5,384 | 3,402 | |
Available-for-Sale Securities, Gross Unrealized Losses | (717) | (2,626) | |
Available-for-Sale Securities, Fair Value | 257,575 | 250,992 | |
Held-to-Maturity | |||
Held-to-Maturity Securities, Amortized Cost | 733 | [1] | 184 |
Held-to-Maturity Securities, Gross Unrealized Gains | 1 | [1] | 3 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | [1] | 0 |
Held-to-Maturity Securities, Fair Value | 734 | [1] | 187 |
Obligations of U.S. government corporations and agencies [Member] | |||
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | 4,000 | 4,000 | |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 0 | |
Available-for-Sale Securities, Gross Unrealized Losses | (36) | (85) | |
Available-for-Sale Securities, Fair Value | 3,964 | 3,915 | |
Mortgage-backed securities - residential [Member] | |||
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | 76,018 | 82,619 | |
Available-for-Sale Securities, Gross Unrealized Gains | 852 | 390 | |
Available-for-Sale Securities, Gross Unrealized Losses | (345) | (1,302) | |
Available-for-Sale Securities, Fair Value | 76,525 | 81,707 | |
REMICs [Member] | |||
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | 1,188 | 1,309 | |
Available-for-Sale Securities, Gross Unrealized Gains | 7 | 0 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | (2) | |
Available-for-Sale Securities, Fair Value | 1,195 | 1,307 | |
Collateralized mortgage obligations [Member] | |||
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | 67,647 | 63,204 | |
Available-for-Sale Securities, Gross Unrealized Gains | 708 | 422 | |
Available-for-Sale Securities, Gross Unrealized Losses | (268) | (621) | |
Available-for-Sale Securities, Fair Value | 68,087 | 63,005 | |
Preferred stock [Member] | |||
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | 0 | 0 | |
Available-for-Sale Securities, Gross Unrealized Gains | 1 | 2 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | 0 | |
Available-for-Sale Securities, Fair Value | 1 | 2 | |
Corporate bonds [Member] | |||
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | 12,917 | 12,919 | |
Available-for-Sale Securities, Gross Unrealized Gains | 182 | 97 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | (3) | |
Available-for-Sale Securities, Fair Value | 13,099 | 13,013 | |
Obligations of state and political subdivisions [Member] | |||
Available-for-sale | |||
Available-for-Sale Securities, Amortized Cost | 91,138 | 86,165 | |
Available-for-Sale Securities, Gross Unrealized Gains | 3,634 | 2,491 | |
Available-for-Sale Securities, Gross Unrealized Losses | (68) | (613) | |
Available-for-Sale Securities, Fair Value | 94,704 | 88,043 | |
Held-to-Maturity | |||
Held-to-Maturity Securities, Amortized Cost | 654 | [1] | 93 |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | [1] | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | [1] | 0 |
Held-to-Maturity Securities, Fair Value | 654 | [1] | 93 |
FHLMC certificates [Member] | |||
Held-to-Maturity | |||
Held-to-Maturity Securities, Amortized Cost | 10 | [1] | 12 |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | [1] | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | [1] | 0 |
Held-to-Maturity Securities, Fair Value | 10 | [1] | 12 |
FNMA certificates [Member] | |||
Held-to-Maturity | |||
Held-to-Maturity Securities, Amortized Cost | 49 | [1] | 56 |
Held-to-Maturity Securities, Gross Unrealized Gains | 1 | [1] | 2 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | [1] | 0 |
Held-to-Maturity Securities, Fair Value | 50 | [1] | 58 |
GNMA certificates [Member] | |||
Held-to-Maturity | |||
Held-to-Maturity Securities, Amortized Cost | 20 | [1] | 23 |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | [1] | 1 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | [1] | 0 |
Held-to-Maturity Securities, Fair Value | $ 20 | [1] | $ 24 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Available-for-sale, Due in one year or less, Amortized Cost | $ 1,213 | ||
Available-for-sale, Due after one year through five years, Amortized Cost | 22,615 | ||
Available-for-sale, Due after five years through ten years, Amortized Cost | 42,929 | ||
Available-for-sale, Due after ten years, Amortized Cost | 41,298 | ||
Available-for-sale, MBS/CMO/REMIC, Amortized Cost | 144,853 | ||
Available-for-sale, Amortized Cost | 252,908 | ||
Available-for-sale, Due in one year or less, Fair Value | 1,217 | ||
Available-for-sale, Due after one year through five years, Fair Value | 23,027 | ||
Available-for-sale, Due after five years through ten years, Fair Value | 44,772 | ||
Available-for-sale, Due after ten years, Fair Value | 42,752 | ||
Available-for-sale, MBS/CMO/REMIC, Fair Value | 145,807 | ||
Available-for-sale, Fair Value | 257,575 | $ 250,992 | |
Held-to-maturity Securities, Due in one year or less, Amortized Cost | 0 | ||
Held-to-maturity Securities, Due after one year through five years, Amortized Cost | 62 | ||
Held-to-maturity,Securities, Due after five years through ten years, Amortized Cost | 592 | ||
Held-to-maturity Securities, Due after ten years,Amorized Cost | 0 | ||
Held-to-maturity, MBS/CMO/REMIC, Amortized Cost | 79 | ||
Held-to-maturity, Amortized Cost | 733 | [1] | 184 |
Held-to-maturity Securities, Due in one year or less, Fair Value | 0 | ||
Held-to-maturity Securities, Due after one year through five years, Fair Value | 62 | ||
Held-to-maturity, Securites, Due after five years through ten years, Fair Value | 592 | ||
Held-to-maturity Securities, Due after ten years, Fair Value | 0 | ||
Held-to-maturity, MBS/CMO/REMIC, Fair Value | 80 | ||
Held-to-maturity, Fair Value | $ 734 | [1] | $ 187 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Detail57
Investment Securities (Details 2) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Held to maturity securities: | ||
Total temporarily impaired securities, Duration Unrealized Loss Position, Less Than Twelve Months, Fair Value | $ 51,144 | $ 117,013 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Less Than 12 Months, Gross Unrealized Loss | (677) | (2,568) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,141 | 2,224 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Gross Unrealized Loss | (40) | (58) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Fair Value | 52,285 | 119,238 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Unrealized Loss | (717) | (2,626) |
Collateralized mortgage obligations [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 21,877 | 28,882 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (228) | (566) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 1,141 | 1,227 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (40) | (55) |
Available-for-sale securities, Total, Fair Value | 23,018 | 30,110 |
Available-for-sale securities, Total, Unrealized Loss | (268) | (621) |
Corporate bonds [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 0 | |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | 0 | |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 997 | |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (3) | |
Available-for-sale securities, Total, Fair Value | 997 | |
Available-for-sale securities, Total, Unrealized Loss | (3) | |
Obligations of state and political subdivisions [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 4,167 | 19,172 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (68) | (613) |
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 | 4,167 | 19,172 |
Available-for-sale securities, Total, Unrealized Loss | (68) | (613) |
Mortgage-backed securities - residential [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 21,136 | 63,736 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (345) | (1,302) |
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 | 21,136 | 63,736 |
Available-for-sale securities, Total, Unrealized Loss | (345) | (1,302) |
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 | 3,964 | 3,915 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (36) | (85) |
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 | 3,964 | 3,915 |
Available-for-sale securities, Total, Unrealized Loss | $ (36) | $ (85) |
Investment Securities (Detail58
Investment Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Proceeds | $ 7,727 | $ 3,155 | $ 7,727 | $ 8,515 |
Gross realized gains | 267 | 227 | 267 | 358 |
Gross realized losses | $ 0 | $ 0 | $ 0 | $ 0 |
Investment Securities (Detail59
Investment Securities (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | |
Security Owned and Pledged as Collateral Carrying Value | $ 146,200,000 | $ 146,200,000 | ||
Investment Portfolio, Number of Securities | 430 | 430 | ||
Investment Portfolio, Number of Securities, Unrealized Loss | 63 | 63 | ||
Realized Investment Gains (Losses) | $ 267,000 | $ 227,000 | $ 267,000 | $ 358,000 |
Realized Investment Gains Losses, Net of Tax | $ 174,000 | $ 148,000 | $ 174,000 | $ 233,000 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Real Estate: | ||||||
Real Estate | $ 1,693,353 | $ 1,430,998 | ||||
Other Loans: | ||||||
Total loans | 2,367,646 | 2,035,162 | ||||
Deduct: | ||||||
Undisbursed loan funds | (112,000) | (93,355) | ||||
Net deferred loan origination fees and costs | (1,211) | (1,320) | ||||
Allowance for loan loss | (25,915) | $ (25,749) | (25,884) | $ (25,948) | $ (25,668) | $ (25,382) |
Totals | 2,228,520 | 1,914,603 | ||||
Other Loans [Member] | ||||||
Other Loans: | ||||||
Total loans | 674,293 | 604,164 | ||||
One to Four Family Residential Real Estate [Member] | ||||||
Real Estate: | ||||||
Real Estate | 276,578 | 207,550 | ||||
Multi Family Residential [Member] | ||||||
Real Estate: | ||||||
Real Estate | 208,770 | 196,983 | ||||
Commercial Real Estate [Member] | ||||||
Real Estate: | ||||||
Real Estate | 973,317 | 843,579 | ||||
Construction Loans [Member] | ||||||
Real Estate: | ||||||
Real Estate | 234,688 | 182,886 | ||||
Commercial Loan [Member] | ||||||
Other Loans: | ||||||
Total loans | 515,004 | 469,055 | ||||
Home Equity and Home Improvement [Member] | ||||||
Other Loans: | ||||||
Total loans | 130,429 | 118,429 | ||||
Consumer finance [Member] | ||||||
Other Loans: | ||||||
Total loans | $ 28,860 | $ 16,680 |
Loans (Details 1)
Loans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | $ 25,749 | $ 25,668 | $ 25,884 | $ 25,382 |
Charge-Offs | (2,258) | (139) | (2,722) | (573) |
Recoveries | 306 | 366 | 581 | 722 |
Provisions | 2,118 | 53 | 2,172 | 417 |
Ending Allowance | 25,915 | 25,948 | 25,915 | 25,948 |
One to Four Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,621 | 3,109 | 2,627 | 3,212 |
Charge-Offs | 0 | (37) | (49) | (92) |
Recoveries | 33 | 34 | 89 | 120 |
Provisions | (13) | (267) | (26) | (401) |
Ending Allowance | 2,641 | 2,839 | 2,641 | 2,839 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,122 | 2,250 | 2,228 | 2,151 |
Charge-Offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 32 | 0 |
Provisions | 71 | 115 | (67) | 214 |
Ending Allowance | 2,193 | 2,365 | 2,193 | 2,365 |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 10,210 | 11,644 | 10,625 | 11,772 |
Charge-Offs | (110) | 0 | (400) | (13) |
Recoveries | 83 | 229 | 117 | 406 |
Provisions | (47) | (969) | (206) | (1,261) |
Ending Allowance | 10,136 | 10,904 | 10,136 | 10,904 |
Construction Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 458 | 489 | 450 | 517 |
Charge-Offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 82 | 144 | 90 | 116 |
Ending Allowance | 540 | 633 | 540 | 633 |
Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 7,809 | 5,820 | 7,361 | 5,255 |
Charge-Offs | (2,027) | (19) | (2,027) | (355) |
Recoveries | 94 | 56 | 210 | 75 |
Provisions | 2,097 | 883 | 2,429 | 1,765 |
Ending Allowance | 7,973 | 6,740 | 7,973 | 6,740 |
Home Equity and Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,300 | 2,232 | 2,386 | 2,304 |
Charge-Offs | (100) | (66) | (154) | (96) |
Recoveries | 26 | 34 | 59 | 73 |
Provisions | (27) | 78 | (92) | (3) |
Ending Allowance | 2,199 | 2,278 | 2,199 | 2,278 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 229 | 124 | 207 | 171 |
Charge-Offs | (21) | (17) | (92) | (17) |
Recoveries | 70 | 13 | 74 | 48 |
Provisions | (45) | 69 | 44 | (13) |
Ending Allowance | $ 233 | $ 189 | $ 233 | $ 189 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | $ 645 | $ 809 |
Collectively evaluated for impairment | 25,270 | 25,075 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 25,915 | 25,884 |
Loans: | ||
Loans individually evaluated for impairment | 50,691 | 27,433 |
Loans collectively evaluated for impairment | 2,207,024 | 1,918,926 |
Loans acquired with deteriorated credit quality | 4,116 | 11 |
Total ending loans balance | 2,261,831 | 1,946,370 |
One to Four Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 182 | 202 |
Collectively evaluated for impairment | 2,459 | 2,425 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,641 | 2,627 |
Loans: | ||
Loans individually evaluated for impairment | 6,905 | 6,898 |
Loans collectively evaluated for impairment | 269,090 | 200,907 |
Loans acquired with deteriorated credit quality | 1,100 | 0 |
Total ending loans balance | 277,095 | 207,805 |
Multi Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 3 | 4 |
Collectively evaluated for impairment | 2,190 | 2,224 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,193 | 2,228 |
Loans: | ||
Loans individually evaluated for impairment | 2,117 | 3,483 |
Loans collectively evaluated for impairment | 206,615 | 193,714 |
Loans acquired with deteriorated credit quality | 304 | 0 |
Total ending loans balance | 209,036 | 197,197 |
Commercial Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 127 | 255 |
Collectively evaluated for impairment | 10,009 | 10,370 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 10,136 | 10,625 |
Loans: | ||
Loans individually evaluated for impairment | 28,557 | 13,570 |
Loans collectively evaluated for impairment | 945,730 | 832,446 |
Loans acquired with deteriorated credit quality | 2,375 | 0 |
Total ending loans balance | 976,662 | 846,016 |
Construction Loans [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 540 | 450 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 540 | 450 |
Loans: | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 122,812 | 89,244 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 122,812 | 89,244 |
Commercial Loan [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 48 | 35 |
Collectively evaluated for impairment | 7,925 | 7,326 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 7,973 | 7,361 |
Loans: | ||
Loans individually evaluated for impairment | 11,843 | 2,154 |
Loans collectively evaluated for impairment | 504,289 | 468,246 |
Loans acquired with deteriorated credit quality | 337 | 11 |
Total ending loans balance | 516,469 | 470,411 |
Home Equity and Home Improvement [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 285 | 313 |
Collectively evaluated for impairment | 1,914 | 2,073 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,199 | 2,386 |
Loans: | ||
Loans individually evaluated for impairment | 1,214 | 1,269 |
Loans collectively evaluated for impairment | 129,683 | 117,744 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 130,897 | 119,013 |
Consumer Finance [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 233 | 207 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 233 | 207 |
Loans: | ||
Loans individually evaluated for impairment | 55 | 59 |
Loans collectively evaluated for impairment | 28,805 | 16,625 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | $ 28,860 | $ 16,684 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | $ 51,203 | $ 31,715 | $ 40,100 | $ 34,998 |
Interest Income Recognized | 354 | 252 | 603 | 560 |
Cash Basis Income Recognized | 265 | 225 | 478 | 490 |
Residential Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 4,088 | 3,774 | 3,454 | 3,900 |
Interest Income Recognized | 34 | 36 | 62 | 75 |
Cash Basis Income Recognized | 34 | 34 | 62 | 73 |
Residential Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,813 | 3,211 | 3,352 | 3,384 |
Interest Income Recognized | 35 | 31 | 71 | 66 |
Cash Basis Income Recognized | 35 | 31 | 71 | 65 |
Total Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 6,901 | 6,985 | 6,806 | 7,284 |
Interest Income Recognized | 69 | 67 | 133 | 141 |
Cash Basis Income Recognized | 69 | 65 | 133 | 138 |
Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Cash Basis Income Recognized | 0 | 0 | 0 | 0 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,144 | 4,063 | 2,759 | 4,328 |
Interest Income Recognized | 9 | 24 | 19 | 54 |
Cash Basis Income Recognized | 9 | 24 | 19 | 54 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 12,098 | 7,169 | 8,356 | 8,130 |
Interest Income Recognized | 24 | 42 | 46 | 104 |
Cash Basis Income Recognized | 24 | 37 | 48 | 85 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 3,552 | 4,900 | 4,026 | 4,659 |
Interest Income Recognized | 31 | 52 | 73 | 105 |
Cash Basis Income Recognized | 30 | 53 | 67 | 102 |
Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 9,903 | 1,838 | 6,305 | 2,716 |
Interest Income Recognized | 140 | 15 | 187 | 50 |
Cash Basis Income Recognized | 63 | 2 | 82 | 14 |
Commercial Real Estate Other Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 1,654 | 1,675 | 1,661 | 1,548 |
Interest Income Recognized | 10 | 14 | 23 | 18 |
Cash Basis Income Recognized | 8 | 14 | 20 | 18 |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 27,207 | 15,582 | 20,348 | 17,053 |
Interest Income Recognized | 205 | 123 | 329 | 277 |
Cash Basis Income Recognized | 125 | 106 | 217 | 219 |
Commercial Working Capital Or Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 5,939 | 1,535 | 4,156 | 1,524 |
Interest Income Recognized | 29 | 15 | 48 | 30 |
Cash Basis Income Recognized | 29 | 7 | 52 | 22 |
Commercial Loans Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 7,731 | 1,783 | 4,726 | 3,014 |
Interest Income Recognized | 30 | 9 | 51 | 28 |
Cash Basis Income Recognized | 21 | 9 | 33 | 27 |
Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 13,670 | 3,318 | 8,882 | 4,538 |
Interest Income Recognized | 59 | 24 | 99 | 58 |
Cash Basis Income Recognized | 50 | 16 | 85 | 49 |
Home Equity and Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 1,223 | 1,699 | 1,239 | 1,724 |
Interest Income Recognized | 11 | 13 | 21 | 28 |
Cash Basis Income Recognized | 11 | 13 | 21 | 28 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 58 | 68 | 66 | 71 |
Interest Income Recognized | 1 | 1 | 2 | 2 |
Cash Basis Income Recognized | $ 1 | $ 1 | $ 3 | $ 2 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | $ 44,566 | $ 19,828 |
Recorded Investment, With no allowance | 42,260 | 8,701 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | ||
Unpaid Principal Balance, With an Allowance | [1] | 9,273 | 9,796 |
Recorded Investment, With an Allowance | 8,431 | 8,732 | |
Allowance for Loan Losses Allocated, With an Allowance | 645 | 809 | |
Residential Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,257 | 1,912 |
Recorded Investment, With no allowance | 2,110 | 1,765 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,980 | 2,348 |
Recorded Investment, With an Allowance | 1,960 | 2,319 | |
Allowance for Loan Losses Allocated, With an Allowance | 147 | 157 | |
Residential Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,786 | 1,691 |
Recorded Investment, With no allowance | 1,781 | 1,683 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,062 | 1,137 |
Recorded Investment, With an Allowance | 1,054 | 1,131 | |
Allowance for Loan Losses Allocated, With an Allowance | 35 | 45 | |
One To Four Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,043 | 3,603 |
Recorded Investment, With no allowance | 3,891 | 3,448 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,042 | 3,485 |
Recorded Investment, With an Allowance | 3,014 | 3,450 | |
Allowance for Loan Losses Allocated, With an Allowance | 182 | 202 | |
Multi Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,066 | 3,578 |
Recorded Investment, With no allowance | 2,067 | 3,430 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 50 | 53 |
Recorded Investment, With an Allowance | 50 | 53 | |
Allowance for Loan Losses Allocated, With an Allowance | 3 | 4 | |
Commercial Real Estate Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 10,255 | 2,652 |
Recorded Investment, With no allowance | 9,753 | 2,353 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 2,585 | 2,362 |
Recorded Investment, With an Allowance | 2,189 | 1,894 | |
Allowance for Loan Losses Allocated, With an Allowance | 57 | 102 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,446 | 4,372 |
Recorded Investment, With no allowance | 3,223 | 4,240 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 303 | 1,618 |
Recorded Investment, With an Allowance | 304 | 1,479 | |
Allowance for Loan Losses Allocated, With an Allowance | 16 | 108 | |
Agriculture Land [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 11,145 | 1,695 |
Recorded Investment, With no allowance | 11,362 | 1,722 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 109 | 45 |
Recorded Investment, With an Allowance | 110 | 45 | |
Allowance for Loan Losses Allocated, With an Allowance | 3 | 3 | |
Commercial Real Estate Other Receivables [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 748 | 1,225 |
Recorded Investment, With no allowance | 751 | 1,115 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,283 | 1,144 |
Recorded Investment, With an Allowance | 865 | 722 | |
Allowance for Loan Losses Allocated, With an Allowance | 51 | 42 | |
Commercial Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 25,594 | 9,944 |
Recorded Investment, With no allowance | 25,089 | 9,430 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 4,280 | 5,169 |
Recorded Investment, With an Allowance | 3,468 | 4,140 | |
Allowance for Loan Losses Allocated, With an Allowance | 127 | 255 | |
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 Or Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 5,780 | 838 |
Recorded Investment, With no allowance | 5,804 | 786 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 173 | 230 |
Recorded Investment, With an Allowance | 173 | 231 | |
Allowance for Loan Losses Allocated, With an Allowance | 18 | 24 | |
Commercial Loans Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 6,400 | 1,179 |
Recorded Investment, With no allowance | 4,770 | 967 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,094 | 167 |
Recorded Investment, With an Allowance | 1,096 | 170 | |
Allowance for Loan Losses Allocated, With an Allowance | 30 | 11 | |
Commercial Loan [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 12,180 | 2,017 |
Recorded Investment, With no allowance | 10,574 | 1,753 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,267 | 397 |
Recorded Investment, With an Allowance | 1,269 | 401 | |
Allowance for Loan Losses Allocated, With an Allowance | 48 | 35 | |
Home Equity and Improvement [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 635 | 631 |
Recorded Investment, With no allowance | 590 | 585 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 628 | 688 |
Recorded Investment, With an Allowance | 624 | 684 | |
Allowance for Loan Losses Allocated, With an Allowance | 285 | 313 | |
Consumer Finance [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 48 | 55 |
Recorded Investment, With no allowance | 49 | 55 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 6 | 4 |
Recorded Investment, With an Allowance | 6 | 4 | |
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 | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 30,359 | $ 14,348 |
Loans over 90 days past due and still accruing | 0 | 0 |
Total non-performing loans | 30,359 | 14,348 |
Real estate and other assets held for sale | 672 | 455 |
Total non-performing assets | 31,031 | 14,803 |
Troubled debt restructuring, still accruing | $ 10,521 | $ 10,544 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | $ 2,251,162 | $ 1,939,921 |
Total Past Due | 10,669 | 6,449 |
Total Non Accrual | 30,362 | 14,346 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 3,824 | |
Total Past Due | 292 | |
Total Non Accrual | 2,014 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,599 | 1,615 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 102 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,635 | 1,421 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 4,435 | 3,413 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 190 | |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 176,884 | 139,015 |
Total Past Due | 3,566 | 1,442 |
Total Non Accrual | 2,442 | 1,931 |
Residential Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 537 | 56 |
Residential Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,084 | 842 |
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 | 945 | 544 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 96,023 | 66,811 |
Total Past Due | 622 | 537 |
Total Non Accrual | 698 | 992 |
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 | 116 | 166 |
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 | 7 | 308 |
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 | 499 | 63 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 272,907 | 205,826 |
Total Past Due | 4,188 | 1,979 |
Total Non Accrual | 3,140 | 2,923 |
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 | 653 | 222 |
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 | 2,091 | 1,150 |
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 | 1,444 | 607 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 209,036 | 197,197 |
Total Past Due | 0 | 0 |
Total Non Accrual | 1,397 | 2,637 |
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 | 0 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 377,932 | 340,233 |
Total Past Due | 1,284 | 1,475 |
Total Non Accrual | 10,598 | 3,098 |
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 | 0 | 79 |
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 | 175 | 0 |
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 | 1,109 | 1,396 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 393,718 | 338,724 |
Total Past Due | 765 | 523 |
Total Non Accrual | 3,641 | 1,808 |
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 | 79 | 81 |
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 | 0 | 16 |
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 | 686 | 426 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 135,173 | 102,397 |
Total Past Due | 1,458 | 0 |
Total Non Accrual | 2,245 | 755 |
Agriculture Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,161 | 0 |
Agriculture Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 66 | 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 | 231 | 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 66,332 | 62,415 |
Total Past Due | 0 | 249 |
Total Non Accrual | 1,024 | 1,292 |
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 | 0 | 249 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 973,155 | 843,769 |
Total Past Due | 3,507 | 2,247 |
Total Non Accrual | 17,508 | 6,953 |
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,240 | 160 |
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 241 | 16 |
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 | 2,026 | 2,071 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 122,569 | 89,244 |
Total Past Due | 243 | 0 |
Total Non Accrual | 243 | 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 | 243 | 0 |
Commercial Working Capital Or Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 233,294 | 202,786 |
Total Past Due | 667 | 48 |
Total Non Accrual | 3,519 | 435 |
Commercial Working Capital Or Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 394 | 0 |
Commercial Working Capital Or Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 10 |
Commercial Working Capital Or Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 273 | 38 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 282,056 | 267,189 |
Total Past Due | 452 | 388 |
Total Non Accrual | 3,948 | 577 |
Commercial Loans Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 98 | 23 |
Commercial Loans Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 68 | 0 |
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 | 286 | 365 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 515,350 | 469,975 |
Total Past Due | 1,119 | 436 |
Total Non Accrual | 7,467 | 1,012 |
Commercial Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 492 | 23 |
Commercial Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 68 | 10 |
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 | 559 | 403 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 28,601 | 16,452 |
Total Past Due | 259 | 232 |
Total Non Accrual | 51 | 91 |
Consumer Finance [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 160 | 85 |
Consumer Finance [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 57 | 69 |
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 | 42 | 78 |
Home Equity and Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 129,544 | 117,458 |
Total Past Due | 1,353 | 1,555 |
Total Non Accrual | 556 | 730 |
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 | 1,054 | 1,125 |
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 | 178 | 176 |
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 | 121 | $ 254 |
Receivables Acquired Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 260,066 | |
Total Past Due | 2,904 | |
Total Non Accrual | 2,496 | |
Receivables Acquired Current [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,202 | |
Receivables Acquired Current [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 175 | |
Receivables Acquired Current [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 527 |
Loans (Details 7)
Loans (Details 7) - TDRs [Member] $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Number | Jun. 30, 2016USD ($)Number | Jun. 30, 2017USD ($)Number | Jun. 30, 2016USD ($)Number | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 18 | 12 | 29 | 20 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 8,169 | $ 1,735 | $ 8,544 | $ 2,140 |
1-4 Family Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 4 | 4 | 8 | 5 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 413 | $ 115 | $ 512 | $ 124 |
1-4 Family Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 1 | 0 | 3 | 2 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 23 | $ 0 | $ 106 | $ 124 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 1 | 0 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 55 | $ 0 | $ 55 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 0 | 1 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 | $ 117 | $ 0 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 2 | 0 | 2 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 671 | $ 0 | $ 671 |
Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 2 | 0 | 2 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 1,450 | $ 0 | $ 1,450 | $ 0 |
Commercial Real Estate Other Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 2 | 0 | 2 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 196 | $ 0 | $ 196 | $ 0 |
Other Commercial Working Capital [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 5 | 1 | 5 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 2,563 | $ 226 | $ 2,563 | $ 226 |
Commercial Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 3 | 1 | 4 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 3,467 | $ 606 | $ 3,513 | $ 606 |
Home Equity and Home Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 1 | 2 | 2 | 5 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 57 | $ 56 | $ 82 | $ 325 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 1 | 2 | 3 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 6 | $ 5 | $ 9 |
Loans (Details 8)
Loans (Details 8) - Subsequently Defaulted [Member] $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Number | Jun. 30, 2016USD ($)Number | Jun. 30, 2017USD ($)Number | Jun. 30, 2016USD ($)Number | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 1 | 1 | 1 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 225 | $ 15 | $ 225 | $ 15 |
1-4 Family Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
1-4 Family Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 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 | Number | 0 | 1 | 0 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 15 | $ 0 | $ 15 |
Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 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 | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Working Capital Or Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 1 | 0 | 1 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 225 | $ 0 | $ 225 | $ 0 |
Commercial Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Home Equity and Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Loans (Details 9)
Loans (Details 9) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 2,261,831 | $ 1,946,370 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,116 | |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,813,930 | 1,585,391 |
Pass [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 45 | |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 36,621 | 40,005 |
Special Mention [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,338 | |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 55,150 | 27,348 |
Substandard [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,729 | |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Doubtful [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | |
Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 356,130 | 293,626 |
Not Graded [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4 | |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 180,451 | 140,456 |
Residential Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,569 | 5,980 |
Residential Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 664 | 402 |
Residential Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,306 | 1,824 |
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 | 169,912 | 132,250 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 67,349 | |
Residential Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 58,041 | |
Residential Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,394 | |
Residential Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,480 | |
Residential Non Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | |
Residential Non Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,434 | |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 277,095 | 207,805 |
One To Four Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 93,651 | 64,021 |
One To Four Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,518 | 1,796 |
One To Four Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,769 | 5,304 |
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 | 175,157 | 136,684 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 209,036 | 197,197 |
Multi Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 205,834 | 192,369 |
Multi Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 548 | 862 |
Multi Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,541 | 3,852 |
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 | 113 | 114 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 379,216 | 341,708 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 353,499 | 316,335 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 13,245 | 20,559 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 12,219 | 4,430 |
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 | 253 | 384 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 394,482 | 339,248 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 384,585 | 332,196 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,007 | 1,617 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,890 | 5,435 |
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 | 0 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 136,631 | 102,396 |
Agriculture Land [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 120,240 | 98,039 |
Agriculture Land [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,476 | 2,355 |
Agriculture Land [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 12,915 | 2,002 |
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 | 66,333 | 62,664 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 63,303 | 59,561 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 211 | 60 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,014 | 2,297 |
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 | 805 | 746 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 976,662 | 846,016 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 921,627 | 806,131 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 20,939 | 24,591 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 33,038 | 14,164 |
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 | 1,058 | 1,130 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 122,812 | 89,244 |
Construction Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 100,933 | 67,751 |
Construction Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,080 | 706 |
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 | 20,799 | 20,787 |
Commercial Working Capital Or Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 233,960 | 202,834 |
Commercial Working Capital Or Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 220,163 | 193,043 |
Commercial Working Capital Or Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,442 | 8,301 |
Commercial Working Capital Or Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,355 | 1,490 |
Commercial Working Capital Or Other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Working Capital Or Other [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 | 282,509 | 267,577 |
Commercial Loans Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 271,722 | 262,076 |
Commercial Loans Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,094 | 3,749 |
Commercial Loans Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,693 | 1,752 |
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 | 516,469 | 470,411 |
Commercial Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 491,885 | 455,119 |
Commercial Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 11,536 | 12,050 |
Commercial Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 13,048 | 3,242 |
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 | 130,897 | 119,013 |
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 | 622 | 696 |
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 | 130,275 | 118,317 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 28,860 | 16,684 |
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 | 132 | 90 |
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 | 28,728 | $ 16,594 |
One Four Family Non Owner Occupiad [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 96,644 | |
One Four Family Non Owner Occupiad [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 86,082 | |
One Four Family Non Owner Occupiad [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,854 | |
One Four Family Non Owner Occupiad [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,463 | |
One Four Family Non Owner Occupiad [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | |
One Four Family Non Owner Occupiad [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,245 | |
Receivables Acquired Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 262,970 | |
Receivables Acquired Current [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 201,437 | |
Receivables Acquired Current [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,616 | |
Receivables Acquired Current [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 11,421 | |
Receivables Acquired Current [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | |
Receivables Acquired Current [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 47,496 |
Loans (Details 10)
Loans (Details 10) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Notes Receivable Net Acquired With Deteriorated Credit Quality | $ 4,116 | $ 11 |
Notes Receivable Net Acquired With Recorded Investment Net Of Allowance | 4,116 | |
One To Four Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 1,100 | 0 |
Commercial Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 2,375 | 0 |
Commercial Loan [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 337 | $ 11 |
Consumer [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | $ 3 |
Loans (Details 11)
Loans (Details 11) $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Balance at January 1 | $ 0 |
New Loans Purchased | 1,018 |
Accretion of Income | (76) |
Reclassifications from Non-accretable | 0 |
Charge-off of Accretable Yield | (8) |
Balance at June 30 | $ 934 |
Loans (Details 12)
Loans (Details 12) $ in Thousands | Jun. 30, 2017USD ($) |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 7,233 |
One To Four Family Residential Real Estate [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 1,720 |
Commercial Real Estate [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 4,724 |
Commercial Loan [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 785 |
Consumer [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 4 |
Loans (Details 13)
Loans (Details 13) $ in Thousands | Jun. 30, 2017USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Cash Flows Expected to be Collected at Acquisition | $ 5,721 |
Fair Value of Acquired Loans at Acquisition | $ 4,703 |
Loans (Details Textual)
Loans (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Feb. 24, 2017 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $ 5,000 | $ 29,000 | $ 24,000 | $ 43,000 | ||
Loans and Leases Receivable, Loans in Process | 112,000,000 | 112,000,000 | $ 93,355,000 | |||
Loans Receivable, Acquired During Period | $ 285,400,000 | |||||
Purchase Discount on Acquired Loans | 5,400,000 | |||||
Loans Receivable Acquired, Recorded Investments | 263,000,000 | 263,000,000 | ||||
Loans Receivable Acquired, Purchase Discount | 5,000,000 | 5,000,000 | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Loans in Process | 489,000 | 489,000 | ||||
Troubled Debt Restructuring [Member] | ||||||
Financing Receivable, Modifications, Recorded Investment | 22,600,000 | 22,600,000 | 16,800,000 | |||
Specified Reserves, Provision for Troubled Debt Restructurings | 636,000 | 636,000 | 809,000 | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 101,000 | 101,000 | $ 20,000 | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 11,900,000 |
Mortgage Banking (Details)
Mortgage Banking (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||||
Gain from sale of mortgage loans | $ 1,293 | $ 1,426 | $ 2,377 | $ 2,420 |
Mortgage loans servicing revenue (expense): | ||||
Mortgage loans servicing revenue | 924 | 876 | 1,858 | 1,753 |
Amortization of mortgage servicing rights | (403) | (434) | (715) | (745) |
Mortgage servicing rights valuation adjustments | 16 | (104) | 48 | (125) |
Mortgage loans servicing revenue (expense), Total | 537 | 338 | 1,191 | 883 |
Net revenue from sale and servicing of mortgage loans | $ 1,830 | $ 1,764 | $ 3,568 | $ 3,303 |
Mortgage Banking (Details 1)
Mortgage Banking (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Mortgage servicing assets: | ||||
Balance at beginning of period | $ 10,161 | $ 9,879 | $ 10,117 | $ 9,893 |
Loans sold, servicing retained | 396 | 461 | 752 | 758 |
Amortization | (403) | (434) | (715) | (745) |
Carrying value before valuation allowance at end of period | 10,154 | 9,906 | 10,154 | 9,906 |
Valuation allowance: | ||||
Balance at beginning of period | (490) | (666) | (522) | (645) |
Impairment recovery (charges) | 16 | (104) | 48 | (125) |
Balance at end of period | (474) | (770) | (474) | (770) |
Net carrying value of MSRs at end of period | 9,680 | 9,136 | 9,680 | 9,136 |
Fair value of MSRs at end of period | $ 9,813 | $ 9,273 | $ 9,813 | $ 9,273 |
Mortgage Banking (Details Textu
Mortgage Banking (Details Textual) - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||
Residential Mortgage Loans, Unpaid Balance | $ 1,380,000,000 | $ 1,370,000,000 | |
Accrual For Estimated Secondary Market Buy Back Losses | (31,000) | $ (68,000) | |
Accrued Liabilities and Other Liabilities | $ 48,000 | $ 79,000 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Deposits [Line Items] | ||
Non-interest-bearing checking accounts | $ 520,778 | $ 487,663 |
Interest-bearing checking and money market accounts | 967,834 | 816,665 |
Savings deposits | 288,643 | 243,369 |
Retail certificates of deposit less than $250,000 | 499,298 | 400,080 |
Retail certificates of deposit greater than $250,000 | 50,149 | 33,851 |
Total | $ 2,326,702 | $ 1,981,628 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
FHLB Advances: | ||
Single maturity fixed rate advances | $ 92,000 | $ 92,000 |
Putable advances | 5,000 | 5,000 |
Amortizable mortgage advances | 7,858 | 6,943 |
Fair value adjustment on acquired balances | (28) | 0 |
Total | 104,830 | 103,943 |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | 36,083 | 36,083 |
Notes Payable | $ 6,500 | $ 0 |
Borrowings (Details 1)
Borrowings (Details 1) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | $ 24,106 | $ 31,816 |
Gross amount of recognized liabilities for repurchase agreements | 24,106 | 31,816 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 17,654 | 10,594 |
Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 6,452 | 21,222 |
Maturity Overnight [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 24,106 | 31,816 |
Maturity Overnight [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 17,654 | 10,594 |
Maturity Overnight [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 6,452 | 21,222 |
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 |
Borrowings (Details Textual)
Borrowings (Details Textual) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | Dec. 29, 2016 | |
Preferred Securities and Subordinated Debentures Maturity Date | Jun. 15, 2037 | ||
First Tennessee Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20 | ||
Line of Credit Facility, Interest Rate Description | LIBOR plus 1.95% | ||
Long-term Line of Credit | $ 6.5 | ||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | ||
Putable Advances [Member] | |||
Federal Home Loan Bank Advances Balance Amount Yet To Be Called Series1 | $ 5 | ||
Federal home Loan Bank Advances Interest Rate On Balance Amount Yet To Be Called Series1 | 2.35% | ||
Trust Affiliate I [Member] | |||
Issuance Of Trust Preferred Securities | $ 20 | ||
Issuance Of Subordinated Debentures | $ 20.6 | ||
Coupon Rate On Preferred Securities, Period End | 2.68% | 2.34% | |
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.38% | ||
Trust Affiliate II [Member] | |||
Issuance Of Trust Preferred Securities | $ 15 | ||
Issuance Of Subordinated Debentures | $ 15.5 | ||
Coupon Rate On Preferred Securities, Period End | 2.80% | 2.46% | |
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.5% | ||
Trust Affiliate II [Member] | Strike Rate Advances [Member] | |||
Federal Home Loan Bank Advances Branch of Fhlb Bank Last Due Date | March 12, 2018 |
Commitments, Guarantees and C82
Commitments, Guarantees and Contingent Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fixed Rate, Commitments to make loans | $ 54,910 | $ 34,432 |
Fixed Rate, Unused lines of credit | 9,143 | 14,384 |
Fixed Rate, Standby letters of credit | 0 | 0 |
Fixed Rate, Total | 64,053 | 48,816 |
Variable Rate, Commitments to make loans | 151,798 | 106,356 |
Variable Rate, Unused lines of credit | 411,728 | 400,542 |
Variable Rate, Standby letters of credit | 6,576 | 9,668 |
Variable Rate, Total | $ 570,102 | $ 516,566 |
Commitments, Guarantees and C83
Commitments, Guarantees and Contingent Liabilities (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Line of Credit Facility, Period | 60 | |
Commitments and Loans, Available to Sell | $ 29 | $ 22.5 |
Derivative Financial Instrume84
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives Assets, Carrying Value | $ 774 | $ 491 |
Mortgage Banking Derivatives Liabilities, Carrying Value | 0 | 0 |
Mortgage Banking Derivatives, Net Carrying Value | $ 774 | $ 491 |
Derivative Financial Instrume85
Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivatives not designated as hedging instruments | ||||
Mortgage Banking Derivatives - Gain (Loss) | $ 218 | $ 210 | $ 283 | $ 430 |
Derivative Financial Instrume86
Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $ 23.4 | $ 14.1 |
Notional Amount of Interest Rate Derivative Instruments Not Designated as Hedging Instruments | $ 29 | $ 22.5 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Securities available for sale and transferred securities: Before Tax Amount | |||||
Change in net unrealized gain/loss during the period | $ 2,579 | $ 1,059 | $ 4,158 | $ 2,509 | |
Reclassification adjustment for net gains included in net income | [1] | (267) | (227) | (267) | (358) |
Total other comprehensive income | 2,312 | 832 | 3,891 | 2,151 | |
Securities available for sale and transferred securities: Tax Expense (Benefit) | |||||
Change in net unrealized gain/loss during the period | (902) | (370) | (1,455) | (878) | |
Reclassification adjustment for net gains included in net income | 94 | 79 | 94 | 125 | |
Total other comprehensive income | (808) | (291) | (1,361) | (753) | |
Securities available for sale and transferred securities: Net of Tax Amount | |||||
Change in net unrealized gain/loss during the period | 1,677 | 689 | 2,703 | 1,631 | |
Reclassification adjustment for net gains included in net income | (173) | (148) | (173) | (233) | |
Other comprehensive income | $ 1,504 | $ 541 | $ 2,530 | $ 1,398 | |
[1] | Amounts are included in gains on sale or call of securities on the consolidated condensed statements of income. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the three months ended June 30, 2017 and 2016 was $94 and $79, respectively. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the six months ended June 30, 2017 and 2016 was $94 and $125, respectively. |
Other Comprehensive Income (D88
Other Comprehensive Income (Details 1) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Securities Available For Sale, Beginning balance | $ 504 | $ 4,042 |
Securities Available For Sale, Other comprehensive income before reclassifications | 2,703 | 1,631 |
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive income | (173) | (233) |
Securities Available For Sale, Net other comprehensive income during period | 2,530 | 1,398 |
Securities Available For Sale, Ending balance | 3,034 | 5,440 |
Post-retirement Benefit, Beginning balance | (289) | (420) |
Post-retirement Benefit, Other comprehensive income before reclassifications | 0 | 0 |
Post-retirement Benefit, Amounts reclassified from accumulated other comprehensive income | 0 | 0 |
Post-retirement Benefit, Net other comprehensive income during period | 0 | 0 |
Post-retirement Benefit, Ending balance | (289) | (420) |
Accumulated Other Comprehensive Income, Beginning balance | 215 | 3,622 |
Accumulated Other Comprehensive Income, Other comprehensive income before reclassifications | 2,703 | 1,631 |
Accumulated Other Comprehensive Income, Amounts reclassified from accumulated other comprehensive income | (173) | (233) |
Accumulated Other Comprehensive Income, Net other comprehensive income during period | 2,530 | 1,398 |
Accumulated Other Comprehensive Income, Ending balance | $ 2,745 | $ 5,020 |
Affordable Housing Projects T89
Affordable Housing Projects Tax Credit Partnership (Details) - Unfunded Commitments [Member] $ in Thousands | Jun. 30, 2017USD ($) |
Schedule of Equity Method Investments [Line Items] | |
2,017 | $ 1,552 |
2,018 | 1,137 |
2,019 | 308 |
2,020 | 179 |
2,021 | 160 |
Thereafter | 615 |
Total Unfunded Commitments | $ 3,951 |
Affordable Housing Projects T90
Affordable Housing Projects Tax Credit Partnership (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Proportional Amortization Method | ||||
Tax credits and other tax benefits recognized | $ 211 | $ 157 | $ 422 | $ 314 |
Amortization expense in federal income taxes | $ 165 | $ 119 | $ 330 | $ 238 |
Affordable Housing Projects T91
Affordable Housing Projects Tax Credit Partnership (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other Assets [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Amortization Method Qualified Affordable Housing Project Investments | $ 6,600 | $ 6,800 |
Unfunded Commitments [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | 3,951 | |
Unfunded Commitments [Member] | Other Liabilities [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | $ 4,300 | $ 4,300 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) | 1 Months Ended | ||
Feb. 24, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Cash Consideration | $ 12,340,000 | ||
Equity - Dollar Value of Issued Shares | 56,532,000 | ||
Fair Value of Total Consideration Transferred | 68,872,000 | ||
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: | |||
Cash and Cash Equivalents | 35,411,000 | ||
Federal Funds Sold | 2,769,000 | ||
Securities | 4,338,000 | ||
Loans | 285,448,000 | ||
FHLB Stock of Cincinnati and Other Stock | 2,194,000 | ||
Office Properties and Equipment | 5,455,000 | ||
Intangible Assets | 4,900,000 | $ 756,000 | |
Bank-Owned Life Insurance | 8,168,000 | ||
Accrued Interest Receivable and Other Assets | 3,606,000 | ||
Deposits - Non-Interest Bearing | (56,061,000) | ||
Deposits - Interest Bearing | (251,931,000) | ||
Advances from FHLB | (1,403,000) | ||
Accrued Interest Payable and Other Liabilities | (2,665,000) | ||
Total Identifiable Net Assets | 40,229,000 | ||
Goodwill | $ 28,643,000 | $ 98,318,000 | $ 61,798,000 |
Business Combinations (Details
Business Combinations (Details 1) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 24, 2017 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net Interest Income | $ 27,458 | $ 21,480 | $ 51,494 | $ 42,610 | |
Provision for loan losses | 2,118 | 53 | 2,172 | 417 | |
Non-Interest Income | 22,514 | 19,343 | 44,105 | 38,167 | |
Non-Interest Expense | 20,630 | 17,347 | 43,772 | 34,621 | |
Income before income taxes | 12,024 | 10,571 | 21,022 | 20,757 | |
Income taxes | $ 3,677 | $ 3,307 | 7,534 | 6,324 | |
Net Income | $ 1,800 | ||||
Pro Forma [Member] | |||||
Net Interest Income | 48,469 | 43,912 | |||
Provision for loan losses | 2,172 | 741 | |||
Non-Interest Income | 20,968 | 17,735 | |||
Non-Interest Expense | 41,722 | 37,196 | |||
Income before income taxes | 25,543 | 23,710 | |||
Income taxes | 8,864 | 7,222 | |||
Net Income | $ 16,679 | $ 16,488 | |||
Diluted Earnings Per Share | $ 1.66 | $ 1.62 |
Business Combinations (Detail94
Business Combinations (Details Textual) | Apr. 13, 2017USD ($) | Feb. 24, 2017USD ($) | Jun. 30, 2017USD ($)$ / shares | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)$ / sharesshares | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) |
Goodwill | $ 28,643,000 | $ 98,318,000 | $ 98,318,000 | $ 61,798,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 4,900,000 | 756,000 | $ 756,000 | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||||
Payments to Acquire Businesses, Gross | $ 12,340,000 | ||||||
Business Acquisition, Pro Forma Net Income (Loss) | 1,800,000 | ||||||
Noncash Merger Related Costs | 3,600,000 | ||||||
Business Combination, Consideration Transferred | 68,872,000 | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.1808 | ||||||
Compensation and Benefits | 11,473,000 | $ 9,770,000 | $ 25,808,000 | $ 19,955,000 | |||
Customer Relationships [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 564,000 | 564,000 | |||||
Non-Compete Intangible [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 192,000 | $ 192,000 | |||||
Commercial Bancshares [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 348,400,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 37,500,000 | ||||||
Business Combination, Acquisition Related Costs | 3,600,000 | ||||||
Goodwill | 28,600,000 | ||||||
Stock Issued During Period, Shares, Acquisitions | shares | 1,139,502 | ||||||
Payments to Acquire Businesses, Gross | $ 12,300,000 | ||||||
Business Combination Consideration Transferred cash Per Shares | $ / shares | $ 51 | $ 51 | |||||
Business Combinations Consideration Transferred In Shares Percentage | 80.00% | 80.00% | |||||
Business Combinations Consideration Transferred In Cash Percentage | 20.00% | 20.00% | |||||
Compensation and Benefits | $ 2,800,000 | ||||||
Goodwill, Purchase Accounting Adjustments | $ 400,000 | ||||||
Corporate One Benefits Agency Inc [Member] | |||||||
Goodwill | 7,900,000 | $ 7,900,000 | |||||
Business Combination, Consideration Transferred | $ 9,300,000 | ||||||
Business Combination, Contingent Consideration, Liability | 2,300,000 | 2,300,000 | |||||
Contingent Consideration Classified as Equity, Fair Value Disclosure | $ 1,800,000 | $ 1,800,000 | |||||
Corporate One Benefits Agency Inc [Member] | First Payment [Member] | |||||||
Payments to Acquire Businesses, Gross | 6,500,000 | ||||||
Corporate One Benefits Agency Inc [Member] | Second Payment [Member] | |||||||
Payments to Acquire Businesses, Gross | 500,000 | ||||||
Corporate One Benefits Agency Inc [Member] | Third Payment [Member] | |||||||
Payments to Acquire Businesses, Gross | $ 2,300,000 |