Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 02, 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 BANCSHARES INC /MS/ | |
Entity Central Index Key | 947,559 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | FBMS | |
Entity Common Stock, Shares Outstanding | 9,152,657 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 58,155 | $ 31,719 |
Interest-bearing deposits with banks | 31,791 | 29,975 |
Federal funds sold | 2,650 | 425 |
Total cash and cash equivalents | 92,596 | 62,119 |
Securities held-to-maturity, at amortized cost | 6,000 | 6,000 |
Securities available-for-sale, at fair value | 366,490 | 243,206 |
Other securities | 9,544 | 6,593 |
Total securities | 382,034 | 255,799 |
Loans held for sale | 5,907 | 5,880 |
Loans | 1,187,936 | 867,054 |
Allowance for loan losses | (8,070) | (7,510) |
Loans, net | 1,179,866 | 859,544 |
Premises and equipment | 44,766 | 34,624 |
Interest receivable | 5,771 | 4,358 |
Cash surrender value of life insurance | 26,189 | 21,250 |
Goodwill | 20,241 | 13,776 |
Other real estate owned | 8,072 | 6,008 |
Other assets | 24,180 | 14,009 |
TOTAL ASSETS | 1,789,622 | 1,277,367 |
Deposits: | ||
Noninterest-bearing | 319,494 | 202,478 |
Interest-bearing | 1,231,305 | 836,713 |
TOTAL DEPOSITS | 1,550,799 | 1,039,191 |
Interest payable | 255 | 306 |
Borrowed funds | 59,367 | 69,000 |
Subordinated debentures | 10,310 | 10,310 |
Other liabilities | 6,012 | 4,033 |
TOTAL LIABILITIES | 1,626,743 | 1,122,840 |
STOCKHOLDERS’ EQUITY: | ||
Common stock, par value $1 per share, 20,000,000 shares authorized and 9,179,151 shares issued at June 30, 2017; and 9,017,891 shares issued at December 31, 2016, respectively | 9,179 | 9,018 |
Additional paid-in capital | 104,734 | 102,574 |
Retained earnings | 47,279 | 44,477 |
Accumulated other comprehensive income (loss) | 2,151 | (1,078) |
Treasury stock, at cost, 26,494 shares at June 30, 2017 and at December 31, 2016 | (464) | (464) |
TOTAL STOCKHOLDERS’ EQUITY | 162,879 | 154,527 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,789,622 | $ 1,277,367 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 9,179,151 | 9,017,891 |
Treasury stock, shares | 26,494 | 26,494 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED 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: | ||||
Interest and fees on loans | $ 14,170 | $ 9,313 | $ 27,670 | $ 18,349 |
Interest and dividends on securities: | ||||
Taxable interest and dividends | 1,605 | 1,058 | 3,141 | 2,129 |
Tax exempt interest | 592 | 473 | 1,185 | 933 |
Interest on federal funds sold | 97 | 27 | 221 | 56 |
TOTAL INTEREST INCOME | 16,464 | 10,871 | 32,217 | 21,467 |
INTEREST EXPENSE: | ||||
Interest on deposits | 1,303 | 813 | 2,461 | 1,514 |
Interest on borrowed funds | 326 | 203 | 753 | 424 |
TOTAL INTEREST EXPENSE | 1,629 | 1,016 | 3,214 | 1,938 |
NET INTEREST INCOME | 14,835 | 9,855 | 29,003 | 19,529 |
PROVISION FOR LOAN LOSSES | 248 | 204 | 294 | 394 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES LOSSES | 14,587 | 9,651 | 28,709 | 19,135 |
OTHER INCOME: | ||||
Service charges on deposit accounts | 922 | 604 | 1,790 | 1,241 |
Other service charges and fees | 2,835 | 2,357 | 5,358 | 4,203 |
TOTAL OTHER INCOME | 3,757 | 2,961 | 7,148 | 5,444 |
OTHER EXPENSES: | ||||
Salaries and employee benefits | 7,762 | 5,400 | 15,743 | 10,549 |
Occupancy and equipment | 1,348 | 1,110 | 2,718 | 2,183 |
Acquisition and integration charges | 2,682 | 0 | 6,280 | 0 |
Other | 3,278 | 2,411 | 6,424 | 4,582 |
TOTAL OTHER EXPENSES | 15,070 | 8,921 | 31,165 | 17,314 |
INCOME BEFORE INCOME TAXES | 3,274 | 3,691 | 4,692 | 7,265 |
INCOME TAXES | 908 | 1,042 | 1,204 | 2,012 |
NET INCOME | 2,366 | 2,649 | 3,488 | 5,253 |
PREFERRED STOCK ACCRETION AND DIVIDENDS | 0 | 86 | 0 | 171 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS | $ 2,366 | $ 2,563 | $ 3,488 | $ 5,082 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS: | ||||
BASIC | $ 0.26 | $ 0.47 | $ 0.38 | $ 0.94 |
DILUTED | 0.26 | 0.47 | 0.38 | 0.93 |
DIVIDENDS PER SHARE - COMMON | $ 0.0375 | $ 0.0375 | $ 0.075 | $ 0.075 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED 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 per consolidated statements of income | $ 2,366 | $ 2,649 | $ 3,488 | $ 5,253 |
Other Comprehensive Income: | ||||
Unrealized holding gains arising during period on available-for-sale securities | 2,996 | 756 | 5,256 | 2,827 |
Less reclassified adjustment for gains included in net income | 0 | 0 | 0 | 0 |
Unrealized holding gains arising during period on available-for-sale securities | 2,996 | 756 | 5,256 | 2,827 |
Unrealized holding gains on loans held for sale | (92) | 74 | 3 | 86 |
Income tax benefit(expense) | (1,230) | (286) | (2,030) | (996) |
Other comprehensive income | 1,674 | 544 | 3,229 | 1,917 |
Comprehensive Income | $ 4,040 | $ 3,193 | $ 6,717 | $ 7,170 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock | Preferred Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
Balance at Dec. 31, 2015 | $ 103,436 | $ 5,403 | $ 17,123 | $ 44,650 | $ 35,625 | $ 1,099 | $ (464) |
Net income | 5,253 | 0 | 0 | 0 | 5,253 | 0 | 0 |
Other compre- hensive income | 1,917 | 0 | 0 | 0 | 0 | 1,917 | 0 |
Dividends on preferred stock | (171) | 0 | 0 | 0 | (171) | 0 | 0 |
Dividends on common stock, $0.0375 per share | (408) | 0 | 0 | 0 | (408) | 0 | 0 |
Repurchase of restricted stock for payment of taxes | (105) | (5) | 0 | (100) | 0 | 0 | 0 |
Restricted stock grant | 0 | 61 | 0 | (61) | 0 | 0 | 0 |
Compensation expense | 376 | 0 | 0 | 376 | 0 | 0 | 0 |
Balance at Jun. 30, 2016 | 110,298 | 5,459 | 17,123 | 44,865 | 40,299 | 3,016 | (464) |
Balance at Dec. 31, 2016 | 154,527 | 9,018 | 0 | 102,574 | 44,477 | (1,078) | (464) |
Net income | 3,488 | 0 | 0 | 0 | 3,488 | 0 | 0 |
Other compre- hensive income | 3,229 | 0 | 0 | 0 | 0 | 3,229 | 0 |
Dividends on common stock, $0.0375 per share | (686) | 0 | 0 | 0 | (686) | 0 | 0 |
Issuance of 89,591 common shares for GCCB acquisition | 2,249 | 89 | 0 | 2,160 | 0 | 0 | 0 |
Repurchase of restricted stock for payment of taxes | (330) | (12) | 0 | (318) | 0 | 0 | 0 |
Restricted stock grant | 0 | 84 | 0 | (84) | 0 | 0 | 0 |
Compensation expense | 402 | 0 | 0 | 402 | 0 | 0 | 0 |
Balance at Jun. 30, 2017 | $ 162,879 | $ 9,179 | $ 0 | $ 104,734 | $ 47,279 | $ 2,151 | $ (464) |
CONSOLIDATED STATEMENTS OF CHA7
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Dividends on common stock, per Share | $ 0.075 | $ 0.075 |
Issuance of common shares for GCCB | 89,591 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
NET INCOME | $ 3,488 | $ 5,253 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Gain on sale of securities | 0 | (129) |
Depreciation, amortization and accretion | 2,312 | 1,741 |
Provision for loan losses | 294 | 394 |
Loss on sale/writedown of ORE | 404 | 86 |
Restricted stock expense | 402 | 376 |
Increase in cash value of life insurance | (354) | (241) |
Federal Home Loan Bank stock dividends | (42) | (10) |
Changes in: | ||
Interest receivable | 272 | (150) |
Loans held for sale, net | (24) | (4,877) |
Interest payable | (69) | (2) |
Other, net | 544 | (424) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 7,227 | 2,017 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Maturities, calls and paydowns of available- for-sale and held-to-maturity securities | 34,734 | 27,578 |
Purchases of available-for-sale securities | (62,555) | (27,294) |
Net (purchases)/sales of other securities | (1,796) | (1,433) |
Net increase in loans | (83,942) | (53,684) |
Net increase in premises and equipment | (2,415) | (717) |
Purchase of bank-owned life insurance | (469) | (5,850) |
Proceeds from sale of other real estate owned | 5,759 | 221 |
Cash received in excess of cash paid for acquisitions | 3,413 | 0 |
NET CASH USED IN INVESTING ACTIVITIES | (107,271) | (61,179) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Increase in deposits | 156,060 | 115,668 |
Net decrease in borrowed funds | (24,539) | (42,321) |
Dividends paid on common stock | (670) | (391) |
Dividends paid on preferred stock | 0 | (171) |
Repurchase of restricted stock for payment of taxes | (330) | (105) |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 130,521 | 72,680 |
NET INCREASE IN CASH | 30,477 | 13,518 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 62,119 | 41,259 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 92,596 | 54,777 |
SUPPLEMENTAL DISCLOSURES: | ||
CASH PAYMENTS FOR INTEREST | 3,366 | 1,940 |
CASH PAYMENTS FOR INCOME TAXES | 650 | 2,751 |
LOANS TRANSFERRED TO OTHER REAL ESTATE | 755 | 2,276 |
ISSUANCE OF RESTRICTED STOCK GRANTS | 84 | 61 |
STOCK ISSUED IN CONNECTION WITH GULF COAST COMMUNITY BANK ACQUISITION | $ 2,249 | $ 0 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | NOTE 1 BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial statements and with the instructions to Form 10-Q of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2017, are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company's Form 10-K for the year ended December 31, 2016. |
SUMMARY OF ORGANIZATION
SUMMARY OF ORGANIZATION | 6 Months Ended |
Jun. 30, 2017 | |
Notes To Financial Statements [Abstract] | |
SUMMARY OF ORGANIZATION | NOTE 2 SUMMARY OF ORGANIZATION The First Bancshares, Inc., Hattiesburg, Mississippi (the "Company"), was incorporated June 23, 1995, under the laws of the State of Mississippi for the purpose of operating as a bank holding company. The Company’s primary asset is its interest in its wholly-owned subsidiary, The First, A National Banking Association (the “Bank”). At June 30, 2017, the Company had approximately $ 1.8 1.2 1.6 162.9 2.4 1.6 In both the first and second quarters of 2017, the Company declared and paid a dividend of $. 0375 |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | NOTE 3 RECENT ACCOUNTING PRONOUNCEMENTS In May 2017, the FASB issued ASU No. 2017-09, “Stock Compensation, Scope of Modification Accounting.” This ASU clarifies when changes to the terms of conditions of a share-based payment award must be accounted for as modifications. Companies will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. The new guidance should reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications, as the guidance will allow companies to make certain non-substantive changes to awards without accounting for them as modifications. It does not change the accounting for modifications. ASU No. 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017; early adoption is permitted. ASU No. 2017-09 is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2017, the FASB issued ASU No. 2017-08, “ Premium Amortization on Purchased Callable Debt Securities.” In January 2017, the FASB issued ASU No. 2017-04, “Simplifying the Test for Goodwill Impairment.” In August 2016, the FASB issued ASU No. 2016-15, “Classification of Certain Cash Receipts and Cash Payments." In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, “ Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” In February 2016, the FASB issued ASU NO. 2016-02 “ Leases (Topic 842).” |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 6 Months Ended |
Jun. 30, 2017 | |
Business Combination, Description [Abstract] | |
BUSINESS COMBINATIONS | NOTE 4 BUSINESS COMBINATIONS Acquisitions Iberville Bank On January 1, 2017, the Company completed its acquisition of 100 31.1 2.5 In connection with the acquisition, the Company recorded approximately $ 5.2 3.2 10 The Company acquired the $ 149.4 0.8 Expenses associated with the acquisition were $ 3.5 (dollars in thousands) Purchase price: Cash $ 31,100 Total purchase price 31,100 Identifiable assets: Cash and due from banks 28,789 Investments 78,613 Loans 148,516 Core deposit intangible 3,186 Personal and real property 4,473 Other assets 9,330 Total assets 272,907 Liabilities and equity: Deposits 243,656 Borrowed funds 456 Other liabilities 2,928 Total liabilities 247,040 Net assets acquired 25,867 Goodwill resulting from acquisition $ 5,233 Outstanding principal balance $ 137,862 Carrying amount 137,081 The following unaudited supplemental pro forma information is presented to show estimated results assuming Iberville Bank was acquired as of January 1, 2016. These unaudited pro forma results are not necessarily indicative of the operating results that the Company would have achieved had it completed the acquisition as of January 1, 2016 and should not be considered as representative of future operating results. For the Three For the Six (dollars in thousands) Months Ended Months Ended Performance Measures (pro forma, unaudited) June 30, 2016 June 30, 2016 Net interest income $ 12,146 $ 24,170 Net earnings $ 3,345 $ 7,501 Diluted earnings per common share $ 0.61 $ 1.37 Gulf Coast Community Bank Also on January 1, 2017, the Company completed the merger of Gulf Coast Community Bank (“GCCB”), Pensacola, Florida, with and into The First. The Company issued to GCCB’s shareholders shares of the Company’s common stock which, for purposes of the GCCB acquisition, were valued through averaging the trading price of the Company’s common stock price over a 30 day trading period ending on the fifth business day prior to the closing of the acquisition. Fractional shares were acquired with cash. The consideration was approximately $ 2.3 In connection with the acquisition, the Company recorded approximately $ 1.2 10 The Company acquired the $ 91.0 2.2 Expenses associated with the acquisition were $ 2.8 (dollars in thousands) Purchase price: Cash and stock $ 2,258 Total purchase price 2,258 Identifiable assets: Cash and due from banks 5,733 Investments 13,805 Loans 88,801 Core deposit intangible 787 Personal and real property 4,739 Other real estate 7,393 Deferred tax asset 6,693 Other assets 468 Total assets 128,419 Liabilities and equity: Deposits 111,993 Borrowed funds 14,450 Other liabilities 950 Total liabilities 127,393 Net assets acquired 1,026 Goodwill resulting from acquisition $ 1,232 Outstanding principal balance $ 74,755 Carrying amount 74,806 |
PREFERRED STOCK AND WARRANT
PREFERRED STOCK AND WARRANT | 6 Months Ended |
Jun. 30, 2017 | |
Preferred Stock And Warrant [Abstract] | |
PREFERRED STOCK AND WARRANT | NOTE 5 PREFERRED STOCK AND WARRANT On December 6, 2016, the Company repurchased all 17,123 15,925,000 7 1,198,000 |
EARNINGS APPLICABLE TO COMMON S
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | NOTE 6 EARNINGS APPLICABLE TO COMMON STOCKHOLDERS Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. For the Three Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 2,366,000 9,145,179 $ 0.26 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 2,366,000 9,206,378 $ 0.26 For the Six Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 3,488,000 9,134,225 $ 0.38 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 3,488,000 9,195,424 $ 0.38 For the Three Months Ended June 30, 2016 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 2,563,000 5,432,014 $ 0.47 Effect of dilutive shares: Restricted stock grants 58,578 Diluted per share $ 2,563,000 5,490,592 $ 0.47 For the Six Months Ended June 30, 2016 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 5,082,000 5,423,676 $ 0.94 Effect of dilutive shares: Restricted stock grants 58,578 Diluted per share $ 5,082,000 5,482,254 $ 0.93 The Company granted 73,827 9,709 |
COMPREHNSIVE INCOME
COMPREHNSIVE INCOME | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
COMPREHNSIVE INCOME | NOTE 7 COMPREHENSIVE INCOME As presented in the Consolidated Statements of Comprehensive Income, comprehensive income includes net income and other comprehensive income. The Company’s sources of other comprehensive income are unrealized gains and losses on available-for-sale investment securities and loans held for sale. Gains or losses on investment securities that were realized and reflected in net income of the current period, which had previously been included in other comprehensive income as unrealized holding gains or losses in the period in which they arose, are considered to be reclassification adjustments that are excluded from other comprehensive income in the current period. |
FINANCIAL INSTRUMENTS WITH OFF-
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | NOTE 8 FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. ($ In Thousands) June 30, 2017 December 31, 2016 Commitments to extend credit $ 272,835 $ 220,252 Standby letters of credit 6,869 1,742 |
FAIR VALUE DISCLOSURES AND REPO
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS | NOTE 9 FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS FASB’s standards on financial instruments, and on fair value measurements and disclosures, require all entities to disclose in their financial statement footnotes the estimated fair values of financial instruments for which it is practicable to estimate fair values. In addition to disclosure requirements, FASB’s standard on investments requires that our debt securities which are classified as available for sale and our equity securities that have readily determinable fair values be measured and reported at fair value in our statement of financial position. Certain impaired loans are also reported at fair value, as explained in greater detail below, and foreclosed assets are carried at the lower of cost or fair value. FASB’s standard on financial instruments permits companies to report certain other financial assets and liabilities at fair value, but we have not elected the fair value option for any of those financial instruments. Fair value measurement and disclosure standards also establish a framework for measuring fair values. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants on the measurement date. Further, the standards establish a fair value hierarchy that encourages an entity to maximize the use of observable inputs and limit the use of unobservable inputs when measuring fair values. The standards describe three levels of inputs that may be used to measure fair values: · Level 1 : Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. · Level 2 : Significant observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. · Level 3 : Significant unobservable inputs that reflect a company’s own assumptions about the factors that market participants would likely consider in pricing an asset or liability. Fair value estimates are made at a specific point in time based on relevant market data and information about the financial instruments. The estimates do not reflect any premium or discount that could result from offering the Company’s entire holdings of a particular financial instrument for sale at one time, nor do they attempt to estimate the value of anticipated future business related to the instruments. In addition, the tax ramifications related to realized gains and losses could have a significant effect on fair value estimates but have not been considered in those estimates. Because no active market exists for a significant portion of our financial instruments, fair value disclosures are based on judgments regarding current economic conditions, risk characteristics of various financial instruments and other factors. The estimates are subjective and involve uncertainties and matters of significant judgment, and therefore cannot be determined with precision. Changes in assumptions could significantly alter the fair values presented. The following methods and assumptions were used by the Company to estimate its financial instrument fair values disclosed at June 30, 2017 and December 31, 2016: · Cash and cash equivalents and fed funds sold : The carrying amount is estimated to be fair value. · Securities (available-for-sale and held-to-maturity) : Fair values are determined by obtaining quoted prices on nationally recognized securities exchanges or by matrix pricing, which is a mathematical technique used widely in the industry to value debt securities by relying on their relationship to other benchmark quoted securities when quoted prices for specific securities are not readily available. · Loans and leases : For variable-rate loans and leases that re-price frequently with no significant change in credit risk or interest rate spread, fair values are based on carrying values. Fair values for other loans and leases are estimated by discounting projected cash flows at interest rates being offered at each reporting date for loans and leases with similar terms, to borrowers of comparable creditworthiness. The carrying amount of accrued interest receivable approximates its fair value. · Loans held for sale : Since loans designated by the Company as available-for-sale are typically sold shortly after making the decision to sell them, realized gains or losses are usually recognized within the same period and fluctuations in fair values are not relevant for reporting purposes. If available-for-sale loans are on our books for an extended period of time, the fair value of those loans is determined using quoted secondary-market prices. · Collateral-dependent impaired loans : Collateral-dependent impaired loans are carried at fair value when it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the original loan agreement and the loan has been written down to the fair value of its underlying collateral, net of expected disposition costs where applicable. · Bank-owned life insurance : Fair values are based on net cash surrender policy values at each reporting date. · Other securities : Certain investments for which no secondary market exists are carried at cost and the carrying amount for those investments typically approximates their estimated fair value, unless an impairment analysis indicates the need for adjustments. · Deposits (noninterest-bearing and interest-bearing) : Fair values for non-maturity deposits are equal to the amount payable on demand at the reporting date, which is the carrying amount. Fair values for fixed-rate certificates of deposit are estimated using a cash flow analysis, discounted at interest rates being offered at each reporting date by the Bank for certificates with similar remaining maturities. The carrying amount of accrued interest payable approximates its fair value. · FHLB and other borrowings : Current carrying amounts are used as an approximation of fair values for federal funds purchased, overnight advances from the Federal Home Loan Bank (“FHLB”), borrowings under repurchase agreements, and other short-term borrowings maturing within ninety days of the reporting dates. Fair values of other short-term borrowings are estimated by discounting projected cash flows at the Company’s current incremental borrowing rates for similar types of borrowing arrangements. · Long-term borrowings : Fair values are estimated using projected cash flows discounted at the Company’s current incremental borrowing rates for similar types of borrowing arrangements. · Subordinated debentures : Fair values are determined based on the current market value for like instruments of a similar maturity and structure. · Off-Balance Sheet Instruments Fair values of off-balance sheet financial instruments are based on fees charged to enter into similar agreements. However, commitments to extend credit do not represent a significant value until such commitments are funded or closed. Management has determined that these instruments do not have a distinguishable fair value and no fair value has been assigned. As of June 30, 2017 ($ In Thousands) Fair Value Measurements Significant Other Significant Estimated Quoted Observable Unobservable Carrying Fair Prices Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial Instruments: Assets: Cash and cash equivalents $ 92,596 $ 92,596 $ 92,596 $ - $ - Securities available-for-sale 366,490 366,490 936 363,215 2,339 Securities held- to-maturity 6,000 7,609 - 7,609 - Other securities 9,544 9,544 - 9,544 - Loans, net 1,185,773 1,204,546 - - 1,204,546 Bank-owned life insurance 26,189 26,189 - 26,189 - Liabilities: Noninterest-bearing deposits $ 319,494 $ 319,494 $ - $ 319,494 $ - Interest-bearing deposits 1,231,305 1,229,942 - 1,229,942 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 59,367 59,367 - 59,367 - As of December 31, 2016 ($ In Thousands) Fair Value Measurements Significant Other Significant Estimated Quoted Observable Unobservable Carrying Fair Prices Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial Instruments: Assets: Cash and cash equivalents $ 62,119 $ 62,119 $ 62,119 $ - $ - Securities available-for-sale 243,206 243,206 940 240,025 2,241 Securities held- to-maturity 6,000 7,394 - 7,394 - Other securities 6,593 6,593 - 6,593 - Loans, net 865,424 883,161 - - 883,161 Bank-owned life insurance 21,250 21,250 - 21,250 - Liabilities: Noninterest-bearing deposits $ 202,478 $ 202,478 $ - $ 202,478 $ - Interest-bearing deposits 836,713 835,658 - 835,658 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 69,000 69,000 - 69,000 - Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U. S. agency securities, mortgage-backed securities, obligations of states and political subdivisions and certain corporate, asset-backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. June 30, 2017 ($ In Thousands) Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 7,509 $ - $ 7,509 $ - Municipal securities 138,478 - 138,478 - Mortgage-backed securities 202,053 - 202,053 - Corporate obligations 17,514 - 15,175 2,339 Other 936 936 - - Total $ 366,490 $ 936 $ 363,215 $ 2,339 December 31, 2016 ($ In Thousands) Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 9,045 $ - $ 9,045 $ - Municipal securities 98,822 - 98,822 - Mortgage-backed securities 114,289 - 114,289 - Corporate obligations 20,110 - 17,869 2,241 Other 940 940 - - Total $ 243,206 $ 940 $ 240,025 $ 2,241 ($ In Thousands) Bank-Issued Trust Preferred Securities 2017 2016 Balance, January 1 $ 2,241 $ 2,557 Transfers into Level 3 - - Transfers out of Level 3 - - Other-than-temporary impairment loss included in earnings (loss) - - Unrealized gain (loss) included in comprehensive income 98 (316) Balance at June 30, 2017 and December 31, 2016 $ 2,339 $ 2,241 The following table presents quantitative information about recurring Level 3 fair value measurements (in thousands): Significant Trust Preferred Fair Valuation Unobservable Range of Securities Value Technique Inputs Inputs June 30, 2017 $ 2,339 Discounted cash flow Probability of default 1.78% - 3.48% December 31, 2016 $ 2,241 Discounted cash flow Probability of default 1.50% - 3.34% Following is a description of the valuation methodologies used for assets measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Impaired Loans Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for estimating fair value include using the fair value of the collateral for collateral dependent loans or, where a loan is determined not to be collateral dependent, using the discounted cash flow method. If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. If the impaired loan is determined not to be collateral dependent, then the discounted cash flow method is used. This method requires the impaired loan to be recorded at the present value of expected future cash flows discounted at the loan’s effective interest rate. The effective interest rate of a loan is the contractual interest rate adjusted for any net deferred loan fees or costs, or premium or discount existing at origination or acquisition of the loan. Impaired loans are classified within Level 2 of the fair value hierarchy. Other Real Estate Owned Other real estate owned acquired through loan foreclosure is initially recorded at fair value less estimated costs to sell, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for loan losses. Due to the subjective nature of establishing the fair value, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined the fair value declines subsequent to foreclosure, a valuation allowance is recorded through non-interest expense. Operating costs associated with the assets are also recorded as non-interest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other non-interest expense. Other real estate owned measured at fair value on a non-recurring basis at June 30, 2017, amounted to $ 8.1 ($ In Thousands) June 30, 2017 Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 9,003 $ - $ 9,003 $ - Other real estate owned 8,072 - 8,072 - December 31, 2016 Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 6,128 $ - $ 6,128 $ - Other real estate owned 6,008 - 6,008 - |
SECURITIES
SECURITIES | 6 Months Ended |
Jun. 30, 2017 | |
Securities [Abstract] | |
SECURITIES | NOTE 10 - SECURITIES The following disclosure of the estimated fair value of financial instruments is made in accordance with authoritative guidance. The estimated fair value amounts have been determined using available market information and appropriate valuation methodologies. However, considerable judgment is necessarily required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. June 30, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Obligations of U.S. Government agencies $ 7,495 $ 18 4 $ 7,509 Tax-exempt and taxable obligations of states and municipal subdivisions 135,200 3,453 175 138,478 Mortgage-backed securities 200,425 2,056 428 202,053 Corporate obligations 18,525 79 1,090 17,514 Other 1,255 - 319 936 $ 362,900 $ 5,606 $ 2,016 $ 366,490 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,609 $ - $ 7,609 December 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Obligations of U.S. Government agencies $ 9,023 $ 28 $ 6 $ 9,045 Tax-exempt and taxable obligations of states and municipal subdivisions 98,328 1,678 1,184 98,822 Mortgage-backed securities 114,991 602 1,304 114,289 Corporate obligations 21,274 66 1,230 20,110 Other 1,256 - 316 940 $ 244,872 $ 2,374 $ 4,040 $ 243,206 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,394 $ - $ 7,394 |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2017 | |
Loans Receivable, Net [Abstract] | |
LOANS | NOTE 11 LOANS Loans typically provide higher yields than the other types of earning assets, and, thus, one of the Company's goals is for loans to be the largest category of the Company's earning assets. For the quarters ended June 30, 2017 and December 31, 2016, average loans accounted for 73.3 73.8 June 30, 2017 ($ In thousands) Past Due Total 90 Days Past Due Past Due or More and 30 to 89 and Still Non- Non- Total Days Accruing Accrual Accrual Loans Real Estate-construction $ 73 $ 105 $ 191 $ 369 $ 169,971 Real Estate-mortgage 1,738 637 2,299 4,674 372,815 Real Estate-non farm non-residential 766 18 1,337 2,121 448,218 Commercial 1,502 - 131 1,633 167,799 Lease Financing Rec. - - - - 2,189 Obligations of states and subdivisions - - - - 5,775 Consumer 42 - 21 63 21,169 Total $ 4,121 $ 760 $ 3,979 $ 8,860 $ 1,187,936 December 31, 2016 ($ In Thousands) Past Due 90 Days Total or More Past Due Past Due and and 30 to 89 Still Non- Non- Total Days Accruing Accrual Accrual Loans Real Estate-construction $ 204 $ 96 $ 658 $ 958 $ 109,394 Real Estate-mortgage 2,745 102 1,662 4,509 289,640 Real Estate-non farm non residential 269 - 909 1,178 314,359 Commercial 9 - 2 11 129,423 Lease Financing Rec. - - - - 2,204 Obligations of states and subdivisions - - - - 6,698 Consumer 22 - 33 55 15,336 Total $ 3,249 $ 198 $ 3,264 $ 6,711 $ 867,054 Loans acquired with deteriorated credit quality are those purchased in the BCB Holding Company, Inc. acquisition. These loans were recorded at estimated fair value at the acquisition date with no carryover of the related allowance for loan losses. The acquired loans were segregated as of the acquisition date between those considered to be performing (acquired non-impaired loans) and those with evidence of credit deterioration (acquired impaired loans). Acquired loans are considered impaired if there is evidence of credit deterioration and if it is probable, at acquisition, all contractually required payments will not be collected. ($ In Thousands) Commercial, financial and Mortgage- Mortgage- Commercial agricultural Commercial Residential and other Total Contractually required payments $ 1,519 $ 29,648 $ 7,933 $ 976 $ 40,076 Cash flows expected to be collected 1,570 37,869 9,697 1,032 50,168 Fair value of loans acquired 1,513 28,875 7,048 957 38,393 Total outstanding acquired impaired loans were $ 2.1 2.2 ($ In Thousands) June 30, 2017 December 31, 2016 Carrying Carrying Accretable Amount of Accretable Amount of Yield Loans Yield Loans Balance at beginning of period $ 894 $ 1,305 $ 1,219 $ 1,821 Accretion (30) 30 (325) 325 Payments received, net - (110) - (841) Balance at end of period $ 864 $ 1,225 $ 894 $ 1,305 June 30, 2017 Average Interest ($ In Thousands) Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD ($ In thousands) Impaired loans with no related allowance: Commercial installment $ 18 $ 18 $ - $ 53 $ - Commercial real estate 3,136 3,258 - 3,017 42 Consumer real estate 2,216 2,417 - 1,689 58 Consumer installment 3 3 - 10 - Total $ 5,373 $ 5,696 $ - $ 4,769 $ 100 Impaired loans with a related allowance: Commercial installment $ 113 $ 113 $ 19 $ 89 $ - Commercial real estate 2,982 2,982 342 2,881 65 Consumer real estate 512 512 147 485 7 Consumer installment 23 23 18 25 - Total $ 3,630 $ 3,630 $ 526 $ 3,480 $ 72 Total Impaired Loans: Commercial installment $ 131 $ 131 $ 19 $ 142 $ - Commercial real estate 6,118 6,240 342 5,898 107 Consumer real estate 2,728 2,929 147 2,174 65 Consumer installment 26 26 18 35 - Total Impaired Loans $ 9,003 $ 9,326 $ 526 $ 8,249 $ 172 As of June 30, 2017, the Company had $ 1.0 0.7 December 31, 2016 Average Interest ($ In Thousands) Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD ($ In thousands) Impaired loans with no related allowance: Commercial installment $ - $ - $ - $ - $ - Commercial real estate 2,324 2,570 - 4,368 37 Consumer real estate 329 329 - 291 1 Consumer installment 14 14 - 9 - Total $ 2,667 $ 2,913 $ - $ 4,668 $ 38 Impaired loans with a related allowance: Commercial installment $ 153 $ 153 $ 10 $ 244 $ 9 Commercial real estate 2,726 2,726 343 2,832 127 Consumer real estate 556 669 308 733 14 Consumer installment 26 27 21 32 - Total $ 3,461 $ 3,575 $ 682 $ 3,841 $ 150 Total Impaired Loans: Commercial installment $ 153 $ 153 $ 10 $ 244 $ 9 Commercial real estate 5,050 5,296 343 7,200 164 Consumer real estate 885 998 308 1,024 15 Consumer installment 40 41 21 41 - Total Impaired Loans $ 6,128 $ 6,488 $ 682 $ 8,509 $ 188 June 30, December 31, 2017 2016 ($ In Thousands) Impaired Loans: Impaired loans without a valuation allowance $ 5,373 $ 2,667 Impaired loans with a valuation allowance 3,630 3,461 Total impaired loans $ 9,003 $ 6,128 Allowance for loan losses on impaired loans at period end 526 682 Total nonaccrual loans 3,979 3,264 Past due 90 days or more and still accruing 760 198 Average investment in impaired loans 8,249 8,509 Three Months Six Months Ended Ended June 30, 2017 June 30, 2017 ($ In Thousands) Interest income recognized during impairment $ - $ - Cash-basis interest income recognized 74 172 The gross interest income that would have been recorded in the period that ended if the nonaccrual loans had been current in accordance with their original terms and had been outstanding throughout the period or since origination, if held for part of the three months and six months ended June 30, 2017 was $ 78,000 152,000 For the Three Months Ending June 30, 2017 Outstanding ($ In Thousands) Outstanding Recorded Recorded Investment Interest Investment Post- Number of Income Pre-Modification Modification Loans Recognized Commercial installment $ 116 $ 115 1 $ - Commercial real estate 324 324 2 - Consumer real estate 152 151 2 2 Consumer installment - - - - Total $ 592 $ 590 5 $ 2 For the Six Months Ending June 30, 2017 Outstanding ($ In Thousands) Outstanding Recorded Recorded Investment Interest Investment Post- Number of Income Pre-Modification Modification Loans Recognized Commercial installment $ 116 $ 115 1 $ - Commercial real estate 324 324 2 - Consumer real estate 152 151 2 2 Consumer installment - - - - Total $ 592 $ 590 5 $ 2 There were 5 TDRs modified during the three month period ended June 30, 2017. The balance of troubled debt restructurings (TDRs)was $ 7.4 4.1 216,000 ($ In Thousands) June 30, 2017 Past Due 90 days Current Past Due and still Non- Loans 30-89 accruing accrual Total Commercial installment $ - $ - $ - $ 228 $ 228 Commercial real estate 3,826 - - 1,046 4,872 Consumer real estate 1,104 89 - 1,044 2,237 Consumer installment 6 - - 20 26 Total $ 4,936 $ 89 $ - $ 2,338 $ 7,363 Allowance for loan losses $ - $ - $ - $ 216 $ 216 ($ In Thousands) December 31, 2016 Past Due 90 days Current Past Due and still Non- Loans 30-89 accruing accrual Total Commercial installment $ 151 $ - $ - $ - $ 151 Commercial real estate 2,463 - - 1,102 3,565 Consumer real estate 154 90 - 122 366 Consumer installment 6 - - 23 29 Total $ 2,774 $ 90 $ - $ 1,247 $ 4,111 Allowance for loan losses $ 125 $ - $ - $ 40 $ 165 Internal Risk Ratings The Company categorizes loans 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. The Company uses the following definitions for risk ratings, which are consistent with the definitions used in supervisory guidance: Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. June 30, 2017 Commercial, ($ In Thousands) Real Installment Financial Real Estate Estate and and Commercial Mortgage Other Agriculture Total Pass $ 733,632 $ 218,365 $ 28,852 $ 170,386 $ 1,151,235 Special Mention 11,939 1,196 - 1,582 14,717 Substandard 16,811 4,287 102 1,781 22,981 Doubtful 97 - - - 97 Subtotal 762,479 223,848 28,954 173,749 1,189,030 Less: Unearned discount 789 56 - 249 1,094 Loans, net of unearned discount $ 761,690 $ 223,792 $ 28,954 $ 173,500 $ 1,187,936 December 31, 2016 ($ In Thousands) Commercial, Real Installment Financial Real Estate Estate and and Commercial Mortgage Other Agriculture Total Pass $ 522,949 $ 174,325 $ 21,278 $ 134,235 $ 852,787 Special Mention 376 237 - 618 1,231 Substandard 11,873 1,336 79 208 13,496 Doubtful - 200 - 40 240 Subtotal 535,198 176,098 21,357 135,101 867,754 Less: Unearned discount 378 60 - 262 700 Loans, net of unearned discount $ 534,820 $ 176,038 $ 21,357 $ 134,839 $ 867,054 ($ In Thousands) Three Months Six Months Ended Ended June 30, 2017 June 30, 2017 Balance at beginning of period $ 7,813 $ 7,510 Loans charged-off: Real Estate (155) (220) Installment and Other (34) (42) Commercial, Financial and Agriculture (-) (1) Total (189) (263) Recoveries on loans previously charged-off: Real Estate 152 453 Installment and Other 31 44 Commercial, Financial and Agriculture 15 32 Total 198 529 Net recoveries 9 266 Provision for Loan Losses 248 294 Balance at end of period $ 8,070 $ 8,070 Allocation of the Allowance for Loan Losses June 30, 2017 ($ In Thousands) % of loans in each category Amount to total loans Commercial Non Real Estate $ 1,406 14.6 % Commercial Real Estate 4,597 64.1 Consumer Real Estate 1,475 18.8 Consumer 163 2.4 Secondary market reserve 180 - Unallocated 249 .1 Total $ 8,070 100 % December 31, 2016 ($ In Thousands) % of loans in each category Amount to total loans Commercial Non Real Estate $ 1,118 15.6 % Commercial Real Estate 4,071 61.6 Consumer Real Estate 1,589 20.3 Consumer 155 2.4 Unallocated 577 0.1 Total $ 7,510 100 % June 30, 2017 Commercial, Installment Financial Real and and Estate Other Agriculture Total ($ In Thousands) Loans Individually evaluated $ 8,846 $ 26 $ 131 $ 9,003 Collectively evaluated 976,636 28,928 173,369 1,178,933 Total $ 985,482 $ 28,954 $ 173,500 $ 1,187,936 Allowance for Loan Losses Individually evaluated $ 489 $ 18 $ 19 $ 526 Collectively evaluated 5,762 395 1,387 7,544 Total $ 6,251 $ 413 $ 1,406 $ 8,070 December 31, 2016 Commercial, Installment Financial Real and and Estate Other Agriculture Total (In thousands) Loans Individually evaluated $ 5,935 $ 40 $ 153 $ 6,128 Collectively evaluated 704,923 21,317 134,686 860,926 Total $ 710,858 $ 21,357 $ 134,839 $ 867,054 Allowance for Loan Losses Individually evaluated $ 651 $ 21 $ 10 $ 682 Collectively evaluated 5,009 711 1,108 6,828 Total $ 5,660 $ 732 $ 1,118 $ 7,510 |
SUBSEQUENT EVENTS_OTHER
SUBSEQUENT EVENTS/OTHER | 6 Months Ended |
Jun. 30, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 12 SUBSEQUENT EVENTS/OTHER Subsequent events have been evaluated by management through the date the financial statements were issued. |
RECLASSIFICATION
RECLASSIFICATION | 6 Months Ended |
Jun. 30, 2017 | |
Reclassification [Abstract] | |
RECLASSIFICATION | NOTE 13 RECLASSIFICATION Certain amounts in the 2016 financial statements have been reclassified for comparative purposes to conform to the current period financial statement presentation. |
BUSINESS COMBINATIONS (Tables)
BUSINESS COMBINATIONS (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Certain loans acquired in transfer not accounted for as debt securities acquired | The following table presents information regarding the contractually required payments receivable, cash flows expected to be collected and the estimated fair value of loans acquired in the BCB acquisition as of July 1, 2014, the closing date of the transaction: ($ In Thousands) Commercial, financial and Mortgage- Mortgage- Commercial agricultural Commercial Residential and other Total Contractually required payments $ 1,519 $ 29,648 $ 7,933 $ 976 $ 40,076 Cash flows expected to be collected 1,570 37,869 9,697 1,032 50,168 Fair value of loans acquired 1,513 28,875 7,048 957 38,393 |
The Mortgage Connection | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary amounts of the acquired identifiable assets and liabilities as of the acquisition date were as follows: (dollars in thousands) Purchase price: Cash $ 31,100 Total purchase price 31,100 Identifiable assets: Cash and due from banks 28,789 Investments 78,613 Loans 148,516 Core deposit intangible 3,186 Personal and real property 4,473 Other assets 9,330 Total assets 272,907 Liabilities and equity: Deposits 243,656 Borrowed funds 456 Other liabilities 2,928 Total liabilities 247,040 Net assets acquired 25,867 Goodwill resulting from acquisition $ 5,233 |
Bcb Holding Company | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary amounts of the acquired identifiable assets and liabilities as of the acquisition date were as follows: (dollars in thousands) Purchase price: Cash and stock $ 2,258 Total purchase price 2,258 Identifiable assets: Cash and due from banks 5,733 Investments 13,805 Loans 88,801 Core deposit intangible 787 Personal and real property 4,739 Other real estate 7,393 Deferred tax asset 6,693 Other assets 468 Total assets 128,419 Liabilities and equity: Deposits 111,993 Borrowed funds 14,450 Other liabilities 950 Total liabilities 127,393 Net assets acquired 1,026 Goodwill resulting from acquisition $ 1,232 |
Iberville Bank [Member] | |
Certain loans acquired in transfer not accounted for as debt securities acquired | The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2017, are as follows(dollars in thousands): Outstanding principal balance $ 137,862 Carrying amount 137,081 |
Business Acquisition, Pro Forma Information | Pro forma information for 2017 is not necessary because Iberville Bank is included in the Company’s results for the entire six and three months ended June 30, 2017. For the Three For the Six (dollars in thousands) Months Ended Months Ended Performance Measures (pro forma, unaudited) June 30, 2016 June 30, 2016 Net interest income $ 12,146 $ 24,170 Net earnings $ 3,345 $ 7,501 Diluted earnings per common share $ 0.61 $ 1.37 |
Gulf Coast Community [Member] | |
Certain loans acquired in transfer not accounted for as debt securities acquired | The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2017, are as follows (dollars in thousands): Outstanding principal balance $ 74,755 Carrying amount 74,806 |
EARNINGS APPLICABLE TO COMMON23
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Weighted-Average Number of Common Shares Outstanding | Diluted per share data includes any dilution from potential common stock outstanding, such as stock options. For the Three Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 2,366,000 9,145,179 $ 0.26 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 2,366,000 9,206,378 $ 0.26 For the Six Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 3,488,000 9,134,225 $ 0.38 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 3,488,000 9,195,424 $ 0.38 For the Three Months Ended June 30, 2016 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 2,563,000 5,432,014 $ 0.47 Effect of dilutive shares: Restricted stock grants 58,578 Diluted per share $ 2,563,000 5,490,592 $ 0.47 For the Six Months Ended June 30, 2016 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 5,082,000 5,423,676 $ 0.94 Effect of dilutive shares: Restricted stock grants 58,578 Diluted per share $ 5,082,000 5,482,254 $ 0.93 |
FINANCIAL INSTRUMENTS WITH OF24
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments with Off-Balance-Sheet Risk | At June 30, 2017, and December 31, 2016, these financial instruments consisted of the following: ($ In Thousands) June 30, 2017 December 31, 2016 Commitments to extend credit $ 272,835 $ 220,252 Standby letters of credit 6,869 1,742 |
FAIR VALUE DISCLOSURES AND RE25
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments with No Distinguishable Fair Value | Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted: As of June 30, 2017 ($ In Thousands) Fair Value Measurements Significant Other Significant Estimated Quoted Observable Unobservable Carrying Fair Prices Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial Instruments: Assets: Cash and cash equivalents $ 92,596 $ 92,596 $ 92,596 $ - $ - Securities available-for-sale 366,490 366,490 936 363,215 2,339 Securities held- to-maturity 6,000 7,609 - 7,609 - Other securities 9,544 9,544 - 9,544 - Loans, net 1,185,773 1,204,546 - - 1,204,546 Bank-owned life insurance 26,189 26,189 - 26,189 - Liabilities: Noninterest-bearing deposits $ 319,494 $ 319,494 $ - $ 319,494 $ - Interest-bearing deposits 1,231,305 1,229,942 - 1,229,942 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 59,367 59,367 - 59,367 - As of December 31, 2016 ($ In Thousands) Fair Value Measurements Significant Other Significant Estimated Quoted Observable Unobservable Carrying Fair Prices Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) Financial Instruments: Assets: Cash and cash equivalents $ 62,119 $ 62,119 $ 62,119 $ - $ - Securities available-for-sale 243,206 243,206 940 240,025 2,241 Securities held- to-maturity 6,000 7,394 - 7,394 - Other securities 6,593 6,593 - 6,593 - Loans, net 865,424 883,161 - - 883,161 Bank-owned life insurance 21,250 21,250 - 21,250 - Liabilities: Noninterest-bearing deposits $ 202,478 $ 202,478 $ - $ 202,478 $ - Interest-bearing deposits 836,713 835,658 - 835,658 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 69,000 69,000 - 69,000 - |
Fair Value Assets Measured on Recurring Basis | Assets measured at fair value on a recurring basis are summarized below: June 30, 2017 ($ In Thousands) Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 7,509 $ - $ 7,509 $ - Municipal securities 138,478 - 138,478 - Mortgage-backed securities 202,053 - 202,053 - Corporate obligations 17,514 - 15,175 2,339 Other 936 936 - - Total $ 366,490 $ 936 $ 363,215 $ 2,339 December 31, 2016 ($ In Thousands) Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 9,045 $ - $ 9,045 $ - Municipal securities 98,822 - 98,822 - Mortgage-backed securities 114,289 - 114,289 - Corporate obligations 20,110 - 17,869 2,241 Other 940 940 - - Total $ 243,206 $ 940 $ 240,025 $ 2,241 |
Reconciliation of Activity for Assets Measured at Fair Value based on Significant Unobservable (Non-market) Information | The following is a reconciliation of activity for assets measured at fair value based on significant unobservable (non-market) information. ($ In Thousands) Bank-Issued Trust Preferred Securities 2017 2016 Balance, January 1 $ 2,241 $ 2,557 Transfers into Level 3 - - Transfers out of Level 3 - - Other-than-temporary impairment loss included in earnings (loss) - - Unrealized gain (loss) included in comprehensive income 98 (316) Balance at June 30, 2017 and December 31, 2016 $ 2,339 $ 2,241 |
Quantitative Information About Recurring Level 3 Fair Value Measurements | The following table presents quantitative information about recurring Level 3 fair value measurements (in thousands): Significant Trust Preferred Fair Valuation Unobservable Range of Securities Value Technique Inputs Inputs June 30, 2017 $ 2,339 Discounted cash flow Probability of default 1.78% - 3.48% December 31, 2016 $ 2,241 Discounted cash flow Probability of default 1.50% - 3.34% |
Fair Value Assets Measured on Nonrecurring Basis | The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell at June 30, 2017 and December 31, 2016. ($ In Thousands) June 30, 2017 Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 9,003 $ - $ 9,003 $ - Other real estate owned 8,072 - 8,072 - December 31, 2016 Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 6,128 $ - $ 6,128 $ - Other real estate owned 6,008 - 6,008 - |
SECURITIES (Tables)
SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Available-For-Sale Securities and Held-to-Maturity Securities | A summary of the amortized cost and estimated fair value of available-for-sale securities and held-to-maturity securities at June 30, 2017 and December 31, 2016, follows: June 30, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Obligations of U.S. Government agencies $ 7,495 $ 18 4 $ 7,509 Tax-exempt and taxable obligations of states and municipal subdivisions 135,200 3,453 175 138,478 Mortgage-backed securities 200,425 2,056 428 202,053 Corporate obligations 18,525 79 1,090 17,514 Other 1,255 - 319 936 $ 362,900 $ 5,606 $ 2,016 $ 366,490 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,609 $ - $ 7,609 December 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Obligations of U.S. Government agencies $ 9,023 $ 28 $ 6 $ 9,045 Tax-exempt and taxable obligations of states and municipal subdivisions 98,328 1,678 1,184 98,822 Mortgage-backed securities 114,991 602 1,304 114,289 Corporate obligations 21,274 66 1,230 20,110 Other 1,256 - 316 940 $ 244,872 $ 2,374 $ 4,040 $ 243,206 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,394 $ - $ 7,394 |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans Receivable, Net [Abstract] | |
Summary of Loans Classified as Past Due in Excess of Thirty Days or More and Loans Classified as Non-Accrual | The following tables summarize by class our loans classified as past due in excess of 30 days or more in addition to those loans classified as non-accrual: June 30, 2017 ($ In thousands) Past Due Total 90 Days Past Due Past Due or More and 30 to 89 and Still Non- Non- Total Days Accruing Accrual Accrual Loans Real Estate-construction $ 73 $ 105 $ 191 $ 369 $ 169,971 Real Estate-mortgage 1,738 637 2,299 4,674 372,815 Real Estate-non farm non-residential 766 18 1,337 2,121 448,218 Commercial 1,502 - 131 1,633 167,799 Lease Financing Rec. - - - - 2,189 Obligations of states and subdivisions - - - - 5,775 Consumer 42 - 21 63 21,169 Total $ 4,121 $ 760 $ 3,979 $ 8,860 $ 1,187,936 December 31, 2016 ($ In Thousands) Past Due 90 Days Total or More Past Due Past Due and and 30 to 89 Still Non- Non- Total Days Accruing Accrual Accrual Loans Real Estate-construction $ 204 $ 96 $ 658 $ 958 $ 109,394 Real Estate-mortgage 2,745 102 1,662 4,509 289,640 Real Estate-non farm non residential 269 - 909 1,178 314,359 Commercial 9 - 2 11 129,423 Lease Financing Rec. - - - - 2,204 Obligations of states and subdivisions - - - - 6,698 Consumer 22 - 33 55 15,336 Total $ 3,249 $ 198 $ 3,264 $ 6,711 $ 867,054 The following tables set forth the amounts and past due status for the Bank TDRs at June 30, 2017 and December 31, 2016: ($ In Thousands) June 30, 2017 Past Due 90 days Current Past Due and still Non- Loans 30-89 accruing accrual Total Commercial installment $ - $ - $ - $ 228 $ 228 Commercial real estate 3,826 - - 1,046 4,872 Consumer real estate 1,104 89 - 1,044 2,237 Consumer installment 6 - - 20 26 Total $ 4,936 $ 89 $ - $ 2,338 $ 7,363 Allowance for loan losses $ - $ - $ - $ 216 $ 216 ($ In Thousands) December 31, 2016 Past Due 90 days Current Past Due and still Non- Loans 30-89 accruing accrual Total Commercial installment $ 151 $ - $ - $ - $ 151 Commercial real estate 2,463 - - 1,102 3,565 Consumer real estate 154 90 - 122 366 Consumer installment 6 - - 23 29 Total $ 2,774 $ 90 $ - $ 1,247 $ 4,111 Allowance for loan losses $ 125 $ - $ - $ 40 $ 165 |
Certain loans acquired in transfer not accounted for as debt securities acquired | The following table presents information regarding the contractually required payments receivable, cash flows expected to be collected and the estimated fair value of loans acquired in the BCB acquisition as of July 1, 2014, the closing date of the transaction: ($ In Thousands) Commercial, financial and Mortgage- Mortgage- Commercial agricultural Commercial Residential and other Total Contractually required payments $ 1,519 $ 29,648 $ 7,933 $ 976 $ 40,076 Cash flows expected to be collected 1,570 37,869 9,697 1,032 50,168 Fair value of loans acquired 1,513 28,875 7,048 957 38,393 |
Schedule of certain loans acquired in transfer carrying amount and accretable yield for acquired impaired loans | Changes in the carrying amount and accretable yield for acquired impaired loans were as follows at June 30, 2017 and December 31, 2016: ($ In Thousands) June 30, 2017 December 31, 2016 Carrying Carrying Accretable Amount of Accretable Amount of Yield Loans Yield Loans Balance at beginning of period $ 894 $ 1,305 $ 1,219 $ 1,821 Accretion (30) 30 (325) 325 Payments received, net - (110) - (841) Balance at end of period $ 864 $ 1,225 $ 894 $ 1,305 |
Troubled Debt Restructurings | The following tables provide additional detail of impaired loans broken out according to class as of June 30, 2017 and December 31, 2016. The recorded investment included in the following tables represent customer balances net of any partial charge-offs recognized on the loans, net of any deferred fees and costs. As nearly all of our impaired loans at June 30, 2017 are on nonaccrual status, recorded investment excludes any insignificant amount of accrued interest receivable on loans 90-days or more past due and still accruing. The unpaid balance represents the recorded balance prior to any partial charge-offs. June 30, 2017 Average Interest ($ In Thousands) Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD ($ In thousands) Impaired loans with no related allowance: Commercial installment $ 18 $ 18 $ - $ 53 $ - Commercial real estate 3,136 3,258 - 3,017 42 Consumer real estate 2,216 2,417 - 1,689 58 Consumer installment 3 3 - 10 - Total $ 5,373 $ 5,696 $ - $ 4,769 $ 100 Impaired loans with a related allowance: Commercial installment $ 113 $ 113 $ 19 $ 89 $ - Commercial real estate 2,982 2,982 342 2,881 65 Consumer real estate 512 512 147 485 7 Consumer installment 23 23 18 25 - Total $ 3,630 $ 3,630 $ 526 $ 3,480 $ 72 Total Impaired Loans: Commercial installment $ 131 $ 131 $ 19 $ 142 $ - Commercial real estate 6,118 6,240 342 5,898 107 Consumer real estate 2,728 2,929 147 2,174 65 Consumer installment 26 26 18 35 - Total Impaired Loans $ 9,003 $ 9,326 $ 526 $ 8,249 $ 172 As of June 30, 2017, the Company had $ 1.0 0.7 December 31, 2016 Average Interest ($ In Thousands) Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD ($ In thousands) Impaired loans with no related allowance: Commercial installment $ - $ - $ - $ - $ - Commercial real estate 2,324 2,570 - 4,368 37 Consumer real estate 329 329 - 291 1 Consumer installment 14 14 - 9 - Total $ 2,667 $ 2,913 $ - $ 4,668 $ 38 Impaired loans with a related allowance: Commercial installment $ 153 $ 153 $ 10 $ 244 $ 9 Commercial real estate 2,726 2,726 343 2,832 127 Consumer real estate 556 669 308 733 14 Consumer installment 26 27 21 32 - Total $ 3,461 $ 3,575 $ 682 $ 3,841 $ 150 Total Impaired Loans: Commercial installment $ 153 $ 153 $ 10 $ 244 $ 9 Commercial real estate 5,050 5,296 343 7,200 164 Consumer real estate 885 998 308 1,024 15 Consumer installment 40 41 21 41 - Total Impaired Loans $ 6,128 $ 6,488 $ 682 $ 8,509 $ 188 |
Impaired Loans | The following table represents the Company’s impaired loans at June 30, 2017, and December 31, 2016. June 30, December 31, 2017 2016 ($ In Thousands) Impaired Loans: Impaired loans without a valuation allowance $ 5,373 $ 2,667 Impaired loans with a valuation allowance 3,630 3,461 Total impaired loans $ 9,003 $ 6,128 Allowance for loan losses on impaired loans at period end 526 682 Total nonaccrual loans 3,979 3,264 Past due 90 days or more and still accruing 760 198 Average investment in impaired loans 8,249 8,509 |
Summary of Interest Recognized and Cash-Basis Interest Earned on Impaired Loans | The following table is a summary of interest recognized and cash-basis interest earned on impaired loans: Three Months Six Months Ended Ended June 30, 2017 June 30, 2017 ($ In Thousands) Interest income recognized during impairment $ - $ - Cash-basis interest income recognized 74 172 |
Additional Detail of Troubled Debt Restructurings | The following tables provide detail of troubled debt restructurings (TDRs) at June 30, 2017. For the Three Months Ending June 30, 2017 Outstanding ($ In Thousands) Outstanding Recorded Recorded Investment Interest Investment Post- Number of Income Pre-Modification Modification Loans Recognized Commercial installment $ 116 $ 115 1 $ - Commercial real estate 324 324 2 - Consumer real estate 152 151 2 2 Consumer installment - - - - Total $ 592 $ 590 5 $ 2 For the Six Months Ending June 30, 2017 Outstanding ($ In Thousands) Outstanding Recorded Recorded Investment Interest Investment Post- Number of Income Pre-Modification Modification Loans Recognized Commercial installment $ 116 $ 115 1 $ - Commercial real estate 324 324 2 - Consumer real estate 152 151 2 2 Consumer installment - - - - Total $ 592 $ 590 5 $ 2 |
Risk Category of Loans by Class of Loans | As of June 30, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk categories of loans by class of loans (excluding mortgage loans held for sale) were as follows: June 30, 2017 Commercial, ($ In Thousands) Real Installment Financial Real Estate Estate and and Commercial Mortgage Other Agriculture Total Pass $ 733,632 $ 218,365 $ 28,852 $ 170,386 $ 1,151,235 Special Mention 11,939 1,196 - 1,582 14,717 Substandard 16,811 4,287 102 1,781 22,981 Doubtful 97 - - - 97 Subtotal 762,479 223,848 28,954 173,749 1,189,030 Less: Unearned discount 789 56 - 249 1,094 Loans, net of unearned discount $ 761,690 $ 223,792 $ 28,954 $ 173,500 $ 1,187,936 December 31, 2016 ($ In Thousands) Commercial, Real Installment Financial Real Estate Estate and and Commercial Mortgage Other Agriculture Total Pass $ 522,949 $ 174,325 $ 21,278 $ 134,235 $ 852,787 Special Mention 376 237 - 618 1,231 Substandard 11,873 1,336 79 208 13,496 Doubtful - 200 - 40 240 Subtotal 535,198 176,098 21,357 135,101 867,754 Less: Unearned discount 378 60 - 262 700 Loans, net of unearned discount $ 534,820 $ 176,038 $ 21,357 $ 134,839 $ 867,054 |
Activity in Allowance for Loan Losses | Activity in the allowance for loan losses for the period was as follows: ($ In Thousands) Three Months Six Months Ended Ended June 30, 2017 June 30, 2017 Balance at beginning of period $ 7,813 $ 7,510 Loans charged-off: Real Estate (155) (220) Installment and Other (34) (42) Commercial, Financial and Agriculture (-) (1) Total (189) (263) Recoveries on loans previously charged-off: Real Estate 152 453 Installment and Other 31 44 Commercial, Financial and Agriculture 15 32 Total 198 529 Net recoveries 9 266 Provision for Loan Losses 248 294 Balance at end of period $ 8,070 $ 8,070 |
Allocation of Allowance for Loan Losses | The following tables represent how the allowance for loan losses is allocated to a particular loan type, as well as the percentage of the category to total loans at June 30, 2017 and December 31, 2016. Allocation of the Allowance for Loan Losses June 30, 2017 ($ In Thousands) % of loans in each category Amount to total loans Commercial Non Real Estate $ 1,406 14.6 % Commercial Real Estate 4,597 64.1 Consumer Real Estate 1,475 18.8 Consumer 163 2.4 Secondary market reserve 180 - Unallocated 249 .1 Total $ 8,070 100 % December 31, 2016 ($ In Thousands) % of loans in each category Amount to total loans Commercial Non Real Estate $ 1,118 15.6 % Commercial Real Estate 4,071 61.6 Consumer Real Estate 1,589 20.3 Consumer 155 2.4 Unallocated 577 0.1 Total $ 7,510 100 % |
Loans and Allowance for Loan Losses Evaluated Individually and Collectively | The following tables provide the ending balances in the Company's loans (excluding mortgage loans held for sale) and allowance for loan losses, broken down by portfolio segment as of June 30, 2017 and December 31, 2016. The tables also provide additional detail as to the amount of our loans and allowance that correspond to individual versus collective impairment evaluation. The impairment evaluation corresponds to the Company's systematic methodology for estimating its Allowance for Loan Losses. June 30, 2017 Commercial, Installment Financial Real and and Estate Other Agriculture Total ($ In Thousands) Loans Individually evaluated $ 8,846 $ 26 $ 131 $ 9,003 Collectively evaluated 976,636 28,928 173,369 1,178,933 Total $ 985,482 $ 28,954 $ 173,500 $ 1,187,936 Allowance for Loan Losses Individually evaluated $ 489 $ 18 $ 19 $ 526 Collectively evaluated 5,762 395 1,387 7,544 Total $ 6,251 $ 413 $ 1,406 $ 8,070 December 31, 2016 Commercial, Installment Financial Real and and Estate Other Agriculture Total (In thousands) Loans Individually evaluated $ 5,935 $ 40 $ 153 $ 6,128 Collectively evaluated 704,923 21,317 134,686 860,926 Total $ 710,858 $ 21,357 $ 134,839 $ 867,054 Allowance for Loan Losses Individually evaluated $ 651 $ 21 $ 10 $ 682 Collectively evaluated 5,009 711 1,108 6,828 Total $ 5,660 $ 732 $ 1,118 $ 7,510 |
Summary of Organization - Addit
Summary of Organization - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Organization [Line Items] | |||||||
Assets | $ 1,789,622 | $ 1,789,622 | $ 1,277,367 | ||||
Loans, including Loans held for sale | 1,200,000 | 1,200,000 | |||||
Deposits | 1,550,799 | 1,550,799 | 1,039,191 | ||||
Stockholders' equity | 162,879 | $ 110,298 | 162,879 | $ 110,298 | $ 154,527 | $ 103,436 | |
Net income | $ 2,366 | $ 2,649 | $ 3,488 | $ 5,253 | |||
Dividends on common stock, per share | $ 0.0375 | $ 0.0375 | $ 0.0375 | $ 0.075 | $ 0.075 | ||
Noncash Merger Related Costs | $ 1,600 |
BUSINESS COMBINATIONS - Additio
BUSINESS COMBINATIONS - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended |
Jan. 31, 2017 | Jun. 30, 2017 | |
Iberville Bank [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |
Payments to Acquire Businesses, Gross | $ 31,100 | $ 31,100 |
Escrow Deposit | 2,500 | |
Goodwill, Acquired During Period | 5,200 | |
Business Acquisition Purchase Price Allocation Loans Receivable | 149,400 | |
Business Combination Recognized Assets Acquired and Liabilities Assumed, Discount on Loans Acquired | 800 | |
Business Combination, Acquisition Related Costs | 3,500 | |
Iberville Bank [Member] | Core Deposits [Member] | ||
Business Acquisition [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 3,200 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | |
Gulf Coast Community Bank [Member] | ||
Business Acquisition [Line Items] | ||
Payments to Acquire Businesses, Gross | $ 2,300 | 2,258 |
Goodwill, Acquired During Period | 1,200 | |
Business Acquisition Purchase Price Allocation Loans Receivable | 91,000 | |
Business Combination Recognized Assets Acquired and Liabilities Assumed, Discount on Loans Acquired | $ 2,200 | |
Business Combination, Acquisition Related Costs | $ 2,800 | |
Gulf Coast Community Bank [Member] | Core Deposits [Member] | ||
Business Acquisition [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years |
Summary of Acquired Identifiabl
Summary of Acquired Identifiable Assets and Liabilities for Iberville Bank (Detail) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | |
Jan. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Liabilities and equity: | |||
Goodwill resulting from acquisition | $ 20,241 | $ 13,776 | |
Iberville Bank [Member] | |||
Purchase price: | |||
Cash | $ 31,100 | 31,100 | |
Total purchase price | 31,100 | ||
Identifiable assets: | |||
Cash and due from banks | 28,789 | ||
Investments | 78,613 | ||
Loans | 148,516 | ||
Core deposit intangible | 3,186 | ||
Personal and real property | 4,473 | ||
Other assets | 9,330 | ||
Total assets | 272,907 | ||
Liabilities and equity: | |||
Deposits | 243,656 | ||
Borrowed funds | 456 | ||
Other liabilities | 2,928 | ||
Total liabilities | 247,040 | ||
Net assets acquired | 25,867 | ||
Goodwill resulting from acquisition | $ 5,233 |
Outstanding Principal Balance a
Outstanding Principal Balance and Carrying Amount of Loans for Iberville Bank (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Outstanding principal balance | $ 2,100 | $ 2,200 | |
Carrying amount | 1,225 | $ 1,305 | $ 1,821 |
Iberville Bank [Member] | |||
Outstanding principal balance | 137,862 | ||
Carrying amount | $ 137,081 |
Unaudited Supplemental Pro Form
Unaudited Supplemental Pro Forma Information for Iberville Bank (Detail) - Iberville Bank [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | |
Business Acquisition [Line Items] | ||
Net interest income | $ 12,146 | $ 24,170 |
Net earnings | $ 3,345 | $ 7,501 |
Diluted earnings per common share | $ 0.61 | $ 1.37 |
Summary of Acquired Identifia33
Summary of Acquired Identifiable Assets and Liabilities for Gulf Coast Community Bank (Detail) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | |
Jan. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Liabilities and equity: | |||
Goodwill resulting from acquisition | $ 20,241 | $ 13,776 | |
Gulf Coast Community Bank [Member] | |||
Purchase price: | |||
Cash and stock | $ 2,300 | 2,258 | |
Total purchase price | 2,258 | ||
Identifiable assets: | |||
Cash and due from banks | 5,733 | ||
Investments | 13,805 | ||
Loans | 88,801 | ||
Core deposit intangible | 787 | ||
Personal and real property | 4,739 | ||
Other real estate | 7,393 | ||
Deferred tax asset | 6,693 | ||
Other assets | 468 | ||
Total assets | 128,419 | ||
Liabilities and equity: | |||
Deposits | 111,993 | ||
Borrowed funds | 14,450 | ||
Other liabilities | 950 | ||
Total liabilities | 127,393 | ||
Net assets acquired | 1,026 | ||
Goodwill resulting from acquisition | $ 1,232 |
Outstanding Principal Balance34
Outstanding Principal Balance and Carrying Amount of Loans for Gulf Coast Community Bank (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Outstanding principal balance | $ 2,100 | $ 2,200 | |
Carrying amount | 1,225 | $ 1,305 | $ 1,821 |
Gulf Coast Community Bank [Member] | |||
Outstanding principal balance | 74,755 | ||
Carrying amount | $ 74,806 |
PREFERRED STOCK AND WARRANT - A
PREFERRED STOCK AND WARRANT - Additional Information (Detail) - CDCI Preferred Shares [Member] | Dec. 06, 2016USD ($)shares |
Class of Stock [Line Items] | |
Preferred stock, issued | shares | 17,123 |
Treasury Stock, Value, Acquired, Par Value Method | $ 15,925,000 |
Preferred Stock Redemption Discount | $ 1,198,000 |
Preferred Stock Redemption Discount Percentage | 7.00% |
Earnings Applicable to Common36
Earnings Applicable to Common Stockholders - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended |
Mar. 31, 2017 | Jun. 30, 2017 | |
Earnings Per Share Basic [Line Items] | ||
Shares of restricted stock granted | 73,827 | 9,709 |
Reconciliation of Numerators an
Reconciliation of Numerators and Denominators of Basic and Diluted Computations (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share Basic [Line Items] | ||||
Net income available to common stock holders, basic | $ 2,366,000 | $ 2,563,000 | $ 3,488,000 | $ 5,082,000 |
Net income available to common stock holders, diluted | $ 2,366,000 | $ 2,563,000 | $ 3,488,000 | $ 5,082,000 |
Effect of dilutive shares: | ||||
Weighted average number of shares outstanding, basic | 9,145,179 | 5,432,014 | 9,134,225 | 5,423,676 |
Restricted stock grants | 61,199 | 58,578 | 61,199 | 58,578 |
Weighted average number of shares outstanding, diluted | 9,206,378 | 5,490,592 | 9,195,424 | 5,482,254 |
Basic per share | $ 0.26 | $ 0.47 | $ 0.38 | $ 0.94 |
Diluted per share | $ 0.26 | $ 0.47 | $ 0.38 | $ 0.93 |
Financial Instruments with Of38
Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 272,835 | $ 220,252 |
Standby letters of credit | $ 6,869 | $ 1,742 |
FAIR VALUE DISCLOSURES AND RE39
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a non recurring basis | $ 8,072 | $ 6,008 |
Fair Values of off-Balance Shee
Fair Values of off-Balance Sheet Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Assets: | ||||
Cash and cash equivalents | $ 92,596 | $ 62,119 | $ 54,777 | $ 41,259 |
Securities available-for-sale | 366,490 | 243,206 | ||
Securities held- to-maturity | 6,000 | 6,000 | ||
Other securities | 9,544 | 6,593 | ||
Loans, net | 1,185,773 | 865,424 | ||
Bank-owned life insurance | 26,189 | 21,250 | ||
Liabilities: | ||||
Noninterest-bearing deposits | 319,494 | 202,478 | ||
Interest-bearing deposits | 1,231,305 | 836,713 | ||
Subordinated debentures | 10,310 | 10,310 | ||
FHLB and other borrowings | 59,367 | 69,000 | ||
Quoted Prices (Level 1) | ||||
Assets: | ||||
Cash and cash equivalents | 92,596 | 62,119 | ||
Securities available-for-sale | 936 | 940 | ||
Securities held- to-maturity | 0 | 0 | ||
Other securities | 0 | 0 | ||
Loans, net | 0 | 0 | ||
Bank-owned life insurance | 0 | 0 | ||
Liabilities: | ||||
Noninterest-bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
FHLB and other borrowings | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | ||||
Assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available-for-sale | 363,215 | 240,025 | ||
Securities held- to-maturity | 7,609 | 7,394 | ||
Other securities | 9,544 | 6,593 | ||
Loans, net | 0 | 0 | ||
Bank-owned life insurance | 26,189 | 21,250 | ||
Liabilities: | ||||
Noninterest-bearing deposits | 319,494 | 202,478 | ||
Interest-bearing deposits | 1,229,942 | 835,658 | ||
Subordinated debentures | 0 | 0 | ||
FHLB and other borrowings | 59,367 | 69,000 | ||
Significant Unobservable Inputs (Level 3) | ||||
Assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available-for-sale | 2,339 | 2,241 | ||
Securities held- to-maturity | 0 | 0 | ||
Other securities | 0 | 0 | ||
Loans, net | 1,204,546 | 883,161 | ||
Bank-owned life insurance | 0 | 0 | ||
Liabilities: | ||||
Noninterest-bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Subordinated debentures | 10,310 | 10,310 | ||
FHLB and other borrowings | 0 | 0 | ||
Estimated Fair Value | ||||
Assets: | ||||
Cash and cash equivalents | 92,596 | 62,119 | ||
Securities available-for-sale | 366,490 | 243,206 | ||
Securities held- to-maturity | 7,609 | 7,394 | ||
Other securities | 9,544 | 6,593 | ||
Loans, net | 1,204,546 | 883,161 | ||
Bank-owned life insurance | 26,189 | 21,250 | ||
Liabilities: | ||||
Noninterest-bearing deposits | 319,494 | 202,478 | ||
Interest-bearing deposits | 1,229,942 | 835,658 | ||
Subordinated debentures | 10,310 | 10,310 | ||
FHLB and other borrowings | $ 59,367 | $ 69,000 |
Fair Value of Assets Measured o
Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | $ 366,490 | $ 243,206 |
Obligations of U. S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 7,509 | 9,045 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 138,478 | 98,822 |
Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 202,053 | 114,289 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 17,514 | 20,110 |
Other | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 936 | 940 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 936 | 940 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Obligations of U. S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 936 | 940 |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 363,215 | 240,025 |
Significant Other Observable Inputs (Level 2) | Obligations of U. S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 7,509 | 9,045 |
Significant Other Observable Inputs (Level 2) | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 138,478 | 98,822 |
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 202,053 | 114,289 |
Significant Other Observable Inputs (Level 2) | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 15,175 | 17,869 |
Significant Other Observable Inputs (Level 2) | Other | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 2,339 | 2,241 |
Significant Unobservable Inputs (Level 3) | Obligations of U. S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 2,339 | 2,241 |
Significant Unobservable Inputs (Level 3) | Other | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | $ 0 | $ 0 |
Reconciliation of Activity for
Reconciliation of Activity for Assets Measured at Fair Value based on Significant Unobservable (Non-market) Information (Detail) - Bank-Issued Trust Preferred Securities - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Balance, January 1 | $ 2,241 | $ 2,557 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Other-than-temporary impairment loss included in earnings (loss) | 0 | 0 |
Unrealized gain (loss) included in comprehensive income | 98 | (316) |
Balance at June 30, 2017 and December 31, 2016 | $ 2,339 | $ 2,241 |
Quantitative Information About
Quantitative Information About Recurring Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Quantitative Information About Recurring Fair Value Measurements [Line Items] | ||
Range of Inputs, Minimum | 1.78% | 1.50% |
Range of Inputs, Maximum | 3.48% | 3.34% |
Fair Value Input Level 3 | ||
Quantitative Information About Recurring Fair Value Measurements [Line Items] | ||
Fair Value | $ 2,339 | $ 2,241 |
Valuation Technique | Discounted cash flow | Discounted cash flow |
Significant Unobservable Inputs | Probability of default | Probability of default |
Fair Value of Assets Measured44
Fair Value of Assets Measured on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 9,003 | $ 6,128 |
Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 8,072 | 6,008 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 9,003 | 6,128 |
Significant Other Observable Inputs (Level 2) | Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 8,072 | 6,008 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 0 | $ 0 |
Summary of Amortized Cost and E
Summary of Amortized Cost and Estimated Fair Value of Available-For-Sale Securities and Held-To-Maturity Securities (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | $ 362,900 | $ 244,872 |
Available-for-sale Securities, Gross Unrealized Gains | 5,606 | 2,374 |
Available-for-sale Securities, Gross Unrealized Losses | 2,016 | 4,040 |
Available-for-sale securities, Estimated Fair Value | 366,490 | 243,206 |
Obligations of U.S. Government Agencies | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 7,495 | 9,023 |
Available-for-sale Securities, Gross Unrealized Gains | 18 | 28 |
Available-for-sale Securities, Gross Unrealized Losses | 4 | 6 |
Available-for-sale securities, Estimated Fair Value | 7,509 | 9,045 |
Tax-exempt and taxable obligations of states and municipal subdivisions | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 135,200 | 98,328 |
Available-for-sale Securities, Gross Unrealized Gains | 3,453 | 1,678 |
Available-for-sale Securities, Gross Unrealized Losses | 175 | 1,184 |
Available-for-sale securities, Estimated Fair Value | 138,478 | 98,822 |
Held-to-Maturity, Amortized Cost | 6,000 | 6,000 |
Held-to-maturity Securities, Gross Unrealized Gains | 1,609 | 1,394 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Estimated Fair Value | 7,609 | 7,394 |
Mortgage-backed securities | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 200,425 | 114,991 |
Available-for-sale Securities, Gross Unrealized Gains | 2,056 | 602 |
Available-for-sale Securities, Gross Unrealized Losses | 428 | 1,304 |
Available-for-sale securities, Estimated Fair Value | 202,053 | 114,289 |
Corporate obligations | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 18,525 | 21,274 |
Available-for-sale Securities, Gross Unrealized Gains | 79 | 66 |
Available-for-sale Securities, Gross Unrealized Losses | 1,090 | 1,230 |
Available-for-sale securities, Estimated Fair Value | 17,514 | 20,110 |
Other | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 1,255 | 1,256 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 319 | 316 |
Available-for-sale securities, Estimated Fair Value | $ 936 | $ 940 |
LOANS - Additional Information
LOANS - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage of loan portfolio to earning assets | 73.30% | 73.80% | |
Troubled debt restructurings, balance | $ 7,400,000 | $ 7,400,000 | $ 4,100,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,100,000 | 2,100,000 | $ 2,200,000 |
Foreclosed Real Estate Expense | 1,000,000 | ||
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total | 700,000 | 700,000 | |
Financing Receivable, Modifications, Reserve | 216,000 | 216,000 | |
Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Non- Accrual | $ 78,000 | $ 152,000 |
Summary of Loans Classified as
Summary of Loans Classified as Past Due in Excess of Thirty Days or More and Loans Classified as Non-Accrual (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | $ 4,121 | $ 3,249 |
Past Due 90 Days Or More and Still Accruing | 760 | 198 |
Non- Accrual | 3,979 | 3,264 |
Total Past Due and Non- Accrual | 8,860 | 6,711 |
Total Loans | 1,187,936 | 867,054 |
Lease financing receivable | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 0 | 0 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 0 | 0 |
Total Past Due and Non- Accrual | 0 | 0 |
Total Loans | 2,189 | 2,204 |
Obligations of states and subdivisions | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 0 | 0 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 0 | 0 |
Total Past Due and Non- Accrual | 0 | 0 |
Total Loans | 5,775 | 6,698 |
Real Estate-construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 73 | 204 |
Past Due 90 Days Or More and Still Accruing | 105 | 96 |
Non- Accrual | 191 | 658 |
Total Past Due and Non- Accrual | 369 | 958 |
Total Loans | 169,971 | 109,394 |
Real Estate-mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 1,738 | 2,745 |
Past Due 90 Days Or More and Still Accruing | 637 | 102 |
Non- Accrual | 2,299 | 1,662 |
Total Past Due and Non- Accrual | 4,674 | 4,509 |
Total Loans | 372,815 | 289,640 |
Real Estate-non farm non residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 766 | 269 |
Past Due 90 Days Or More and Still Accruing | 18 | 0 |
Non- Accrual | 1,337 | 909 |
Total Past Due and Non- Accrual | 2,121 | 1,178 |
Total Loans | 448,218 | 314,359 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 1,502 | 9 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 131 | 2 |
Total Past Due and Non- Accrual | 1,633 | 11 |
Total Loans | 167,799 | 129,423 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 42 | 22 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 21 | 33 |
Total Past Due and Non- Accrual | 63 | 55 |
Total Loans | $ 21,169 | $ 15,336 |
Information Regarding Contractu
Information Regarding Contractually Payments Receivable, Cash Flows (Detail) $ in Thousands | Dec. 31, 2014USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement [Line Items] | |
Contractually required payments | $ 40,076 |
Cash flows expected to be collected | 50,168 |
Fair value of loans acquired | 38,393 |
Commercial Financial And Agriculture | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement [Line Items] | |
Contractually required payments | 1,519 |
Cash flows expected to be collected | 1,570 |
Fair value of loans acquired | 1,513 |
Mortgage-Commercial | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement [Line Items] | |
Contractually required payments | 29,648 |
Cash flows expected to be collected | 37,869 |
Fair value of loans acquired | 28,875 |
Mortgage-Residential | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement [Line Items] | |
Contractually required payments | 7,933 |
Cash flows expected to be collected | 9,697 |
Fair value of loans acquired | 7,048 |
Commercial and other | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement [Line Items] | |
Contractually required payments | 976 |
Cash flows expected to be collected | 1,032 |
Fair value of loans acquired | $ 957 |
Changes in the Carrying Amount
Changes in the Carrying Amount and Accretable Yield for Acquired Impaired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement [Line Items] | ||
Balance at beginning of period, Accretable Yield | $ 894 | $ 1,219 |
Accretion, Accretable Yield | (30) | (325) |
Payments received, net, Accretable Yield | 0 | 0 |
Balance at end of period, Accretable Yield | 864 | 894 |
Balance at beginning of period, Carrying Amount of Loans | 1,305 | 1,821 |
Accretion, Carrying Amount of Loans | 30 | 325 |
Payments received, net, Carrying Amount of Loans | (110) | (841) |
Balance at end of period, Carrying Amount of Loans | $ 1,225 | $ 1,305 |
Additional Detail of Impaired L
Additional Detail of Impaired Loans Broken Out According to Class (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a valuation allowance, recorded investment | $ 5,373 | $ 2,667 |
Impaired loans with no related allowance, unpaid balance | 5,696 | 2,913 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 4,769 | 4,668 |
Impaired loans with no related allowance, interest income recognized YTD | 100 | 38 |
Impaired loans with a related allowance, recorded investment | 3,630 | 3,461 |
Impaired loans with a related allowance, unpaid balance | 3,630 | 3,575 |
Impaired loans with a related allowance | 526 | 682 |
Impaired loans with a related allowance, average recored investment YTD | 3,480 | 3,841 |
Impaired loans with a related allowance, interest income recognized YTD | 72 | 150 |
Recorded Investment | 9,003 | 6,128 |
Unpaid Balance | 9,326 | 6,488 |
Related Allowance | 526 | 682 |
Average Recorded Investment YTD | 8,249 | 8,509 |
Interest Income Recognized YTD | 172 | 188 |
Commercial installment | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a valuation allowance, recorded investment | 18 | 0 |
Impaired loans with no related allowance, unpaid balance | 18 | 0 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 53 | 0 |
Impaired loans with no related allowance, interest income recognized YTD | 0 | 0 |
Impaired loans with a related allowance, recorded investment | 113 | 153 |
Impaired loans with a related allowance, unpaid balance | 113 | 153 |
Impaired loans with a related allowance | 19 | 10 |
Impaired loans with a related allowance, average recored investment YTD | 89 | 244 |
Impaired loans with a related allowance, interest income recognized YTD | 0 | 9 |
Recorded Investment | 131 | 153 |
Unpaid Balance | 131 | 153 |
Related Allowance | 19 | 10 |
Average Recorded Investment YTD | 142 | 244 |
Interest Income Recognized YTD | 0 | 9 |
Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a valuation allowance, recorded investment | 3,136 | 2,324 |
Impaired loans with no related allowance, unpaid balance | 3,258 | 2,570 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 3,017 | 4,368 |
Impaired loans with no related allowance, interest income recognized YTD | 42 | 37 |
Impaired loans with a related allowance, recorded investment | 2,982 | 2,726 |
Impaired loans with a related allowance, unpaid balance | 2,982 | 2,726 |
Impaired loans with a related allowance | 342 | 343 |
Impaired loans with a related allowance, average recored investment YTD | 2,881 | 2,832 |
Impaired loans with a related allowance, interest income recognized YTD | 65 | 127 |
Recorded Investment | 6,118 | 5,050 |
Unpaid Balance | 6,240 | 5,296 |
Related Allowance | 342 | 343 |
Average Recorded Investment YTD | 5,898 | 7,200 |
Interest Income Recognized YTD | 107 | 164 |
Consumer real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a valuation allowance, recorded investment | 2,216 | 329 |
Impaired loans with no related allowance, unpaid balance | 2,417 | 329 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 1,689 | 291 |
Impaired loans with no related allowance, interest income recognized YTD | 58 | 1 |
Impaired loans with a related allowance, recorded investment | 512 | 556 |
Impaired loans with a related allowance, unpaid balance | 512 | 669 |
Impaired loans with a related allowance | 147 | 308 |
Impaired loans with a related allowance, average recored investment YTD | 485 | 733 |
Impaired loans with a related allowance, interest income recognized YTD | 7 | 14 |
Recorded Investment | 2,728 | 885 |
Unpaid Balance | 2,929 | 998 |
Related Allowance | 147 | 308 |
Average Recorded Investment YTD | 2,174 | 1,024 |
Interest Income Recognized YTD | 65 | 15 |
Consumer installment | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a valuation allowance, recorded investment | 3 | 14 |
Impaired loans with no related allowance, unpaid balance | 3 | 14 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 10 | 9 |
Impaired loans with no related allowance, interest income recognized YTD | 0 | 0 |
Impaired loans with a related allowance, recorded investment | 23 | 26 |
Impaired loans with a related allowance, unpaid balance | 23 | 27 |
Impaired loans with a related allowance | 18 | 21 |
Impaired loans with a related allowance, average recored investment YTD | 25 | 32 |
Impaired loans with a related allowance, interest income recognized YTD | 0 | 0 |
Recorded Investment | 26 | 40 |
Unpaid Balance | 26 | 41 |
Related Allowance | 18 | 21 |
Average Recorded Investment YTD | 35 | 41 |
Interest Income Recognized YTD | $ 0 | $ 0 |
Impaired Loans (Detail)
Impaired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Impaired Loans: | ||
Impaired loans without a valuation allowance | $ 5,373 | $ 2,667 |
Impaired loans with a valuation allowance | 3,630 | 3,461 |
Total impaired loans | 9,003 | 6,128 |
Allowance for loan losses on impaired loans at period end | 526 | 682 |
Total nonaccrual loans | 3,979 | 3,264 |
Past due 90 days or more and still accruing | 760 | 198 |
Average investment in impaired loans | $ 8,249 | $ 8,509 |
Summary of Interest Recognized
Summary of Interest Recognized and Cash-Basis Interest Earned on Impaired Loans (Detail) - USD ($) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Interest income recognized during impairment | $ 0 | $ 0 |
Cash-basis interest income recognized | $ 74 | $ 172 |
Detail of Troubled Debt Restruc
Detail of Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017USD ($)Numbers | Jun. 30, 2017USD ($)Numbers | |
Financing Receivable, Modifications [Line Items] | ||
Outstanding Recorded Investment Pre-Modification | $ 592 | $ 592 |
Outstanding Recorded Investment Post-Modification | $ 590 | $ 590 |
Number of Loans | Numbers | 5 | 5 |
Interest Income Recognized | $ 2 | $ 2 |
Commercial installment | ||
Financing Receivable, Modifications [Line Items] | ||
Outstanding Recorded Investment Pre-Modification | 116 | 116 |
Outstanding Recorded Investment Post-Modification | $ 115 | $ 115 |
Number of Loans | Numbers | 1 | 1 |
Interest Income Recognized | $ 0 | $ 0 |
Commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Outstanding Recorded Investment Pre-Modification | 324 | 324 |
Outstanding Recorded Investment Post-Modification | $ 324 | $ 324 |
Number of Loans | Numbers | 2 | 2 |
Interest Income Recognized | $ 0 | $ 0 |
Consumer real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Outstanding Recorded Investment Pre-Modification | 152 | 152 |
Outstanding Recorded Investment Post-Modification | $ 151 | $ 151 |
Number of Loans | Numbers | 2 | 2 |
Interest Income Recognized | $ 2 | $ 2 |
Consumer installment | ||
Financing Receivable, Modifications [Line Items] | ||
Outstanding Recorded Investment Pre-Modification | 0 | 0 |
Outstanding Recorded Investment Post-Modification | $ 0 | $ 0 |
Number of Loans | Numbers | 0 | 0 |
Interest Income Recognized | $ 0 | $ 0 |
Modifications of Loans Performi
Modifications of Loans Performing (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30-89 | $ 4,121 | $ 3,249 |
Past Due 90 days and still accuring | 760 | 198 |
Non-Accural | 3,979 | 3,264 |
Total | 1,187,936 | 867,054 |
Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 4,936 | 2,774 |
Past Due 30-89 | 89 | 90 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 2,338 | 1,247 |
Total | 7,363 | 4,111 |
Allowance for loan losses, Current Loans | 0 | 125 |
Allowance for loan losses, Past Due 30-89 | 0 | 0 |
Allowance for loan losses, Past Due 90 days and still accruing | 0 | 0 |
Allowance for loan losses, Non-Accrual | 216 | 40 |
Allowance for loan losses, Total | 216 | 165 |
Loans | Commercial installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 0 | 151 |
Past Due 30-89 | 0 | 0 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 228 | 0 |
Total | 228 | 151 |
Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 3,826 | 2,463 |
Past Due 30-89 | 0 | 0 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 1,046 | 1,102 |
Total | 4,872 | 3,565 |
Loans | Consumer real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 1,104 | 154 |
Past Due 30-89 | 89 | 90 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 1,044 | 122 |
Total | 2,237 | 366 |
Loans | Commercial installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 6 | 6 |
Past Due 30-89 | 0 | 0 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 20 | 23 |
Total | $ 26 | $ 29 |
Risk Category of Loans by Class
Risk Category of Loans by Class of Loans (Excluding Mortgage Loans Held for Sale) (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | $ 1,189,030 | $ 867,754 |
Less: Unearned discount | 1,094 | 700 |
Loans, net of unearned discount | 1,187,936 | 867,054 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,151,235 | 852,787 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 14,717 | 1,231 |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 22,981 | 13,496 |
Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 97 | 240 |
Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 762,479 | 535,198 |
Less: Unearned discount | 789 | 378 |
Loans, net of unearned discount | 761,690 | 534,820 |
Commercial Real Estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 733,632 | 522,949 |
Commercial Real Estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 11,939 | 376 |
Commercial Real Estate | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 16,811 | 11,873 |
Commercial Real Estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 97 | 0 |
Mortgage Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 223,848 | 176,098 |
Less: Unearned discount | 56 | 60 |
Loans, net of unearned discount | 223,792 | 176,038 |
Mortgage Real Estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 218,365 | 174,325 |
Mortgage Real Estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,196 | 237 |
Mortgage Real Estate | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 4,287 | 1,336 |
Mortgage Real Estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 0 | 200 |
Installment and Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 28,954 | 21,357 |
Less: Unearned discount | 0 | 0 |
Loans, net of unearned discount | 28,954 | 21,357 |
Installment and Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 28,852 | 21,278 |
Installment and Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 0 | 0 |
Installment and Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 102 | 79 |
Installment and Other | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 0 | 0 |
Commercial,Financial and Agricultural | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 173,749 | 135,101 |
Less: Unearned discount | 249 | 262 |
Loans, net of unearned discount | 173,500 | 134,839 |
Commercial,Financial and Agricultural | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 170,386 | 134,235 |
Commercial,Financial and Agricultural | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,582 | 618 |
Commercial,Financial and Agricultural | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,781 | 208 |
Commercial,Financial and Agricultural | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | $ 0 | $ 40 |
Activity in Allowance for Loan
Activity in Allowance for Loan Losses (Detail) - 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] | ||||
Balance at beginning of period | $ 7,813 | $ 7,510 | ||
Loans charged-off: | (189) | (263) | ||
Recoveries on loans previously charged-off: | 198 | 529 | ||
Net recoveries | 9 | 266 | ||
Provision for Loan Losses | 248 | $ 204 | 294 | $ 394 |
Balance at end of period | 8,070 | 8,070 | ||
Real Estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans charged-off: | (155) | (220) | ||
Recoveries on loans previously charged-off: | 152 | 453 | ||
Installment and Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans charged-off: | (34) | (42) | ||
Recoveries on loans previously charged-off: | 31 | 44 | ||
Commercial Financial And Agricultural | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans charged-off: | 0 | (1) | ||
Recoveries on loans previously charged-off: | $ 15 | $ 32 |
Allocation of Allowance for Loa
Allocation of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | $ 8,070 | $ 7,813 | $ 7,510 |
Allowance for loan losses, percentage of total | 100.00% | 100.00% | |
Commercial Non Real Estate | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | $ 1,406 | $ 1,118 | |
Allowance for loan losses, percentage of total | 14.60% | 15.60% | |
Commercial Real Estate | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | $ 4,597 | $ 4,071 | |
Allowance for loan losses, percentage of total | 64.10% | 61.60% | |
Consumer Real Estate | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | $ 1,475 | $ 1,589 | |
Allowance for loan losses, percentage of total | 18.80% | 20.30% | |
Consumer | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | $ 163 | $ 155 | |
Allowance for loan losses, percentage of total | 2.40% | 2.40% | |
Unallocated | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | $ 249 | $ 577 | |
Allowance for loan losses, percentage of total | 0.10% | 0.10% | |
Secondary market reserve | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | $ 180 | ||
Allowance for loan losses, percentage of total | 0.00% |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses, Broken Down by Portfolio Segment (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Loans | |||
Individually evaluated | $ 9,003 | $ 6,128 | |
Collectively evaluated | 1,178,933 | 860,926 | |
Total | 1,187,936 | 867,054 | |
Allowance for Loan Losses | |||
Individually evaluated | 526 | 682 | |
Collectively evaluated | 7,544 | 6,828 | |
Total | 8,070 | $ 7,813 | 7,510 |
Real Estate | |||
Loans | |||
Individually evaluated | 8,846 | 5,935 | |
Collectively evaluated | 976,636 | 704,923 | |
Total | 985,482 | 710,858 | |
Allowance for Loan Losses | |||
Individually evaluated | 489 | 651 | |
Collectively evaluated | 5,762 | 5,009 | |
Total | 6,251 | 5,660 | |
Installment And Other | |||
Loans | |||
Individually evaluated | 26 | 40 | |
Collectively evaluated | 28,928 | 21,317 | |
Total | 28,954 | 21,357 | |
Allowance for Loan Losses | |||
Individually evaluated | 18 | 21 | |
Collectively evaluated | 395 | 711 | |
Total | 413 | 732 | |
Commercial Financial And Agriculture | |||
Loans | |||
Individually evaluated | 131 | 153 | |
Collectively evaluated | 173,369 | 134,686 | |
Total | 173,500 | 134,839 | |
Allowance for Loan Losses | |||
Individually evaluated | 19 | 10 | |
Collectively evaluated | 1,387 | 1,108 | |
Total | $ 1,406 | $ 1,118 |