Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 04, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
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 | 13,065,953 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 93,624 | $ 42,980 |
Interest-bearing deposits with banks | 51,592 | 48,466 |
Federal funds sold | 17,305 | 475 |
Total cash and cash equivalents | 162,521 | 91,921 |
Securities held-to-maturity, at amortized cost | 6,000 | 6,000 |
Securities available-for-sale, at fair value | 424,620 | 356,893 |
Other securities | 11,308 | 9,969 |
Total securities | 441,928 | 372,862 |
Loans held for sale | 2,538 | 4,790 |
Loans | 1,516,579 | 1,225,306 |
Allowance for loan losses | (8,659) | (8,288) |
Loans, net | 1,510,458 | 1,221,808 |
Interest receivable | 8,027 | 6,705 |
Premises and equipment | 57,430 | 46,426 |
Cash surrender value of bank-owned life insurance | 33,137 | 27,054 |
Goodwill | 47,657 | 19,960 |
Other real estate owned | 7,357 | 7,158 |
Other assets | 30,898 | 19,344 |
TOTAL ASSETS | 2,299,413 | 1,813,238 |
Deposits: | ||
Noninterest-bearing | 414,142 | 301,989 |
Interest-bearing | 1,577,502 | 1,168,576 |
TOTAL DEPOSITS | 1,991,644 | 1,470,565 |
Interest payable | 490 | 353 |
Borrowed funds | 29,034 | 104,072 |
Subordinated debentures | 10,310 | 10,310 |
Other liabilities | 9,396 | 5,470 |
TOTAL LIABILITIES | 2,040,874 | 1,590,770 |
STOCKHOLDERS’ EQUITY: | ||
Common stock, par value $1 per share, 20,000,000 shares authorized; 12,365,986 shares issued at March 31, 2018, and 11,192,401 shares issued at December 31, 2017, respectively | 12,366 | 11,192 |
Additional paid-in capital | 193,302 | 158,456 |
Retained earnings | 57,124 | 53,722 |
Accumulated other comprehensive (loss) | (3,789) | (438) |
Treasury stock, at cost, 26,494 shares at March 31, 2018 and at December 31, 2017 | (464) | (464) |
TOTAL STOCKHOLDERS’ EQUITY | 258,539 | 222,468 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 2,299,413 | $ 1,813,238 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 12,365,986 | 11,192,401 |
Treasury stock, shares | 26,494 | 26,494 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
INTEREST INCOME: | ||
Interest and fees on loans | $ 15,985 | $ 13,500 |
Interest and dividends on securities: | ||
Taxable interest and dividends | 1,986 | 1,536 |
Tax exempt interest | 675 | 593 |
Interest on federal funds sold and interest bearing deposits in other banks | 112 | 124 |
TOTAL INTEREST INCOME | 18,758 | 15,753 |
INTEREST EXPENSE: | ||
Interest on deposits | 1,840 | 1,158 |
Interest on borrowed funds | 538 | 427 |
TOTAL INTEREST EXPENSE | 2,378 | 1,585 |
NET INTEREST INCOME | 16,380 | 14,168 |
PROVISION FOR LOAN LOSSES | 277 | 46 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 16,103 | 14,122 |
OTHER INCOME: | ||
Service charges on deposit accounts | 2,067 | 1,771 |
Other service charges and fees | 1,392 | 1,620 |
TOTAL OTHER INCOME | 3,459 | 3,391 |
OTHER EXPENSES: | ||
Salaries and employee benefits | 7,789 | 7,622 |
Occupancy and equipment | 1,293 | 1,370 |
Acquisition and integration charges | 1,758 | 3,598 |
Other | 3,757 | 3,505 |
TOTAL OTHER EXPENSES | 14,597 | 16,095 |
INCOME BEFORE INCOME TAXES | 4,965 | 1,418 |
INCOME TAXES | 1,008 | 296 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS | $ 3,957 | $ 1,122 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS: | ||
BASIC | $ 0.34 | $ 0.12 |
DILUTED | 0.34 | 0.12 |
DIVIDENDS PER SHARE - COMMON | $ 0.05 | $ 0.0375 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net income per consolidated statements of income | $ 3,957 | $ 1,122 |
Other Comprehensive Income: | ||
Unrealized holding gains/ (losses) arising during period on available-for sale securities | (4,484) | 2,355 |
Less reclassification adjustment for gains included in net income | 0 | 0 |
Unrealized holding gains/ (losses) arising during period on available- for-sale securities | (4,484) | 2,355 |
Income tax benefit(expense) | 1,133 | (800) |
Other comprehensive income (loss) | (3,351) | 1,555 |
Comprehensive Income | $ 606 | $ 2,677 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
Balance at Start at Dec. 31, 2016 | $ 154,527 | $ 9,018 | $ 102,574 | $ 44,477 | $ (1,078) | $ (464) |
Net income | 1,122 | 0 | 0 | 1,122 | 0 | 0 |
Other comprehensive income | 1,555 | 0 | 0 | 0 | 1,555 | 0 |
Dividends on common stock | (344) | 0 | 0 | (344) | 0 | 0 |
Issuance of common shares | 2,249 | 89 | 2,160 | 0 | 0 | 0 |
Repurchase of restricted stock for payment of taxes | (287) | (10) | (277) | 0 | 0 | 0 |
Restricted stock grant | 0 | 74 | (74) | 0 | 0 | 0 |
Compensation expense | 183 | 0 | 183 | 0 | 0 | 0 |
Balance at Ending at Mar. 31, 2017 | 159,005 | 9,171 | 104,566 | 45,255 | 477 | (464) |
Balance at Start at Dec. 31, 2017 | 222,468 | 11,192 | 158,456 | 53,722 | (438) | (464) |
Net income | 3,957 | 0 | 0 | 3,957 | 0 | 0 |
Other comprehensive income | (3,351) | 0 | 0 | 0 | (3,351) | 0 |
Dividends on common stock | (555) | 0 | 0 | (555) | 0 | 0 |
Issuance of common shares | 36,005 | 1,134 | 34,871 | 0 | 0 | 0 |
Restricted stock grant | 0 | 52 | (52) | 0 | 0 | 0 |
Restricted stock grants forfeited | 0 | (12) | 12 | 0 | 0 | 0 |
Expenses associated with common stock issuance | (237) | 0 | (237) | 0 | 0 | 0 |
Compensation expense | 252 | 0 | 252 | 0 | 0 | 0 |
Balance at Ending at Mar. 31, 2018 | $ 258,539 | $ 12,366 | $ 193,302 | $ 57,124 | $ (3,789) | $ (464) |
CONSOLIDATED STATEMENTS OF CHA7
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Dividends on common stock, per Share | $ 0.05 | $ 0.0375 |
Issuance of common shares for GCCB | 1,134,010 | 89,591 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
NET INCOME | $ 3,957 | $ 1,122 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | 1,201 | 1,052 |
Provision for loan losses | 277 | 46 |
Loss on sale/writedown of ORE | 33 | 176 |
Restricted stock expense | 252 | 183 |
Increase in cash value of life insurance | (198) | (180) |
Federal Home Loan Bank stock dividends | (40) | (13) |
Changes in: | ||
Interest receivable | (11) | 344 |
Loans held for sale, net | 2,548 | 502 |
Interest payable | 0 | (34) |
Other, net | (10,773) | (34) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | (2,754) | 3,164 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Maturities, calls and paydowns of available-for-sale and held-to-maturity securities | 12,942 | 20,080 |
Proceeds from sales of securities available-for-sale | 16,529 | 0 |
Purchases of available-for-sale securities | (36,849) | (35,875) |
Redemptions (Purchases) of other securities | 551 | (610) |
Net increase in loans | (21,719) | (35,724) |
Net increase in premises and equipment | (1,012) | (2,122) |
Purchase of bank-owned life insurance | 0 | (469) |
Proceeds from sale of other real estate owned | 893 | 5,641 |
Cash received in excess of cash paid for acquisitions | 20,903 | 3,727 |
NET CASH USED IN INVESTING ACTIVITIES | (7,762) | (45,352) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Increase in deposits | 163,797 | 173,697 |
Net increase (decrease) in borrowed funds | (81,896) | (44,495) |
Dividends paid on common stock | (548) | (335) |
Repurchase of restricted stock for payment of taxes | 0 | (287) |
Expenses associated with capital raise | (237) | 0 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 81,116 | 128,580 |
NET INCREASE IN CASH | 70,600 | 86,392 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 91,921 | 62,119 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 162,521 | 148,511 |
SUPPLEMENTAL DISCLOSURES: | ||
CASH PAYMENTS FOR INTEREST | 2,241 | 1,601 |
LOANS TRANSFERRED TO OTHER REAL ESTATE | 473 | 421 |
ISSUANCE OF RESTRICTED STOCK GRANTS | 52 | 74 |
Stock Issued During Period, Value, Acquisitions | 36,005 | 2,249 |
Gulf Coast Community Bank [Member] | ||
SUPPLEMENTAL DISCLOSURES: | ||
Stock Issued During Period, Value, Acquisitions | 0 | 2,249 |
Southwest Banc Shares, Inc. [Member] | ||
SUPPLEMENTAL DISCLOSURES: | ||
Stock Issued During Period, Value, Acquisitions | $ 36,005 | $ 0 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2018 | |
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 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 three months ended March 31, 2018, are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company's Form 10-K for the fiscal year ended December 31, 2017. |
SUMMARY OF ORGANIZATION
SUMMARY OF ORGANIZATION | 3 Months Ended |
Mar. 31, 2018 | |
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” or “The First”). At March 31, 2018, the Company had approximately $ 2.3 1.5 2.0 0.3 4.0 1.4 On February 22, 2018, the Company paid a cash dividend in the amount of $ 0.05 |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | NOTE 3 RECENT ACCOUNTING PRONOUNCEMENTS In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. materially In February, 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 76 In May 2017, the FASB issued ASU No. 2017-09, “Stock Compensation, Scope of Modification Accounting.” ASU 2017-09 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 any change in the value, vesting conditions or classification of the award occurs. 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 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017. ASU 2017-09 did not 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 March 2016, the FASB issued ASU 2016-09, Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, In February 2016, the FASB issued ASU NO. 2016-02 “ Leases (Topic 842).” |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 3 Months Ended |
Mar. 31, 2018 | |
Business Combination, Description [Abstract] | |
BUSINESS COMBINATIONS | NOTE 4 BUSINESS COMBINATIONS Acquisitions Southwest Banc Shares, Inc. On March 1, 2018, the Company completed its acquisition of Southwest Banc Shares, Inc., (“Southwest”), and immediately thereafter merged its wholly-owned subsidiary, First Community Bank, with and into The First. The Company paid a total consideration of approximately $ 60.0 1,134,010 24 In connection with the acquisition, preliminarily, the Company recorded approximately $ 27.7 4.2 10 The Company acquired the $ 274.7 4.8 Expenses associated with the acquisition were $ 1.4 ($ In Thousands) Purchase price: Cash and stock $ 60,005 Total purchase price 60,005 Identifiable assets: Cash and due from banks 44,904 Investments 67,150 Loans 269,874 Core deposit intangible 4,177 Personal and real property 10,538 Other assets 1,843 Total assets 398,486 Liabilities and equity: Deposits 357,290 Borrowed funds 6,858 Other liabilities 2,030 Total liabilities 366,178 Net assets acquired 32,308 Goodwill resulting from acquisition $ 27,697 Outstanding principal balance $ 261,626 Carrying amount 256,831 ($ In Thousands) Pro-Forma Pro-Forma March 31, 2018 March 31, 2017 (unaudited) (unaudited) Net interest income $ 18,603 $ 17,563 Non-interest income 4,038 4,166 Total revenue 22,641 21,729 Income before income taxes 7,869 2,379 Supplemental pro-forma earnings were adjusted to exclude acquisition costs incurred. Iberville Bank On January 1, 2017, the Company completed its acquisition of 100 31.1 2.5 498,207 In connection with the acquisition, the Company recorded $ 5.1 2.7 10 The Company acquired Iberville’s $ 149.4 0.8 Expenses associated with the acquisition were $ 0 3.2 ($ In Thousands) Outstanding principal balance $ 110,738 Carrying amount 110,075 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 totaled $ 2.3 In connection with the acquisition, the Company recorded $ 1.1 1.0 10 The Company acquired GCCB’s $ 91.0 2.2 Expenses associated with the acquisition were $ 0 0.4 On March 3, 2017, $ 5.0 2.2 The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at March 31, 2018, are as follows: ($ In Thousands) Outstanding principal balance $ 55,248 Carrying amount 55,344 Loans acquired in the two acquisitions were accounted for in accordance with ASC 310-20, Receivables-Nonrefundable Fees and Other Costs Recent Acquisitions See Note 12 Subsequent Events/Other for information on the acquisition of Sunshine Financial, Inc. |
EARNINGS APPLICABLE TO COMMON S
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | NOTE 5 EARNINGS APPLICABLE TO COMMON STOCKHOLDERS For the Three Months Ended March 31, 2018 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 3,957,000 11,556,968 $ 0.34 Effect of dilutive shares: Restricted stock grants 95,991 Diluted per share $ 3,957,000 11,652,959 $ 0.34 For the Three Months Ended March 31, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 1,122,000 9,123,271 $ 0.12 Effect of dilutive shares: Restricted stock grants 59,440 Diluted per share $ 1,122,000 9,182,711 $ 0.12 The Company granted 51,851 73,827 |
COMPREHNSIVE INCOME
COMPREHNSIVE INCOME | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
COMPREHNSIVE INCOME | NOTE 6 COMPREHENSIVE INCOME |
FINANCIAL INSTRUMENTS WITH OFF-
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | NOTE 7 FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK ($ In Thousands) March 31, 2018 December 31, 2017 Commitments to extend credit $ 243,092 $ 281,381 Standby letters of credit 9,454 8,207 |
FAIR VALUE DISCLOSURES AND REPO
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS | NOTE 8 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 Consolidated Financial Statements. 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 ⋅ Level 2 ⋅ Level 3 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 March 31, 2018 and December 31, 2017: ⋅ Cash and cash equivalents and fed funds sold ⋅ Securities (available-for-sale and held-to-maturity) ⋅ Loans and leases Recognition and Measurement of Financial Assets and Financial Liabilities ⋅ Loans held for sale ⋅ Collateral-dependent impaired loans ⋅ Accrued interest receivable ⋅ Deposits (noninterest-bearing and interest-bearing) ⋅ FHLB and other borrowings ⋅ Long-term borrowings ⋅ Subordinated debentures ⋅ Accrued interest payable ⋅ Off-balance sheet instruments As of March 31, 2018 ($ In Thousands) Fair Value Measurements Carrying Estimated Quoted Significant Significant Financial Instruments: Assets: Cash and cash equivalents $ 162,521 $ 162,521 $ 162,521 $ - $ - Securities available-for-sale 424,620 424,620 - 422,033 2,587 Securities held-to-maturity 6,000 7,242 - 7,242 - Other securities 11,308 11,308 n/a n/a n/a Loans, net 1,510,458 1,503,383 - - 1,503,383 Accrued interest receivable 8,027 8,027 - 3,000 5,027 Liabilities: Noninterest-bearing deposits $ 414,142 $ 414,142 $ - $ 414,142 $ - Interest-bearing deposits 1,577,502 1,557,342 - 1,557,342 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 29,034 29,034 - 29,034 - Accrued interest payable 490 490 - 490 - As of December 31, 2017 ($ In Thousands) Fair Value Measurements Carrying Estimated Quoted Significant Significant Financial Instruments: Assets: Cash and cash equivalents $ 91,921 $ 91,921 $ 91,921 $ - $ - Securities available-for-sale 356,893 356,893 920 353,404 2,569 Securities held-to-maturity 6,000 7,398 - 7,398 - Other securities 9,969 9,969 n/a n/a n/a Loans, net 1,221,808 1,230,237 - - 1,230,237 Accrued interest receivable 6,705 6,705 - 2,287 4,418 Liabilities: Noninterest-bearing deposits $ 301,989 $ 301,989 $ - $ 301,989 $ - Interest-bearing deposits 1,168,576 1,165,682 - 1,165,682 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 104,072 104,072 - 104,072 - Accrued interest payable 353 353 - 353 - Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, securities are classified within Level 2 of the valuation hierarchy, and fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities 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. March 31, 2018 ($ In Thousands) Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 2,488 $ - $ 2,488 $ - Municipal securities 160,780 - 160,780 - Mortgage-backed securities 246,655 - 246,655 - Corporate obligations 14,697 - 12,110 2,587 Total $ 424,620 $ - $ 422,033 $ 2,587 December 31, 2017 ($ In Thousands) Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 4,992 $ - $ 4,992 $ - Municipal securities 138,584 - 138,584 - Mortgage-backed securities 196,578 - 196,578 - Corporate obligations 15,819 - 13,250 2,569 Other 920 920 - - Total $ 356,893 $ 920 $ 353,404 $ 2,569 The following is a reconciliation of activity for assets measured at fair value based on significant unobservable (non-market) information. ($ In Thousands) Bank-Issued 2018 2017 Balance, January 1 $ 2,569 $ 2,241 Transfers into Level 3 - - Transfers out of Level 3 - - Other-than-temporary impairment loss included in earnings (loss) - - Unrealized gain included in comprehensive income 18 328 Balance at March 31, 2018 and December 31, 2017 $ 2,587 $ 2,569 Trust Preferred Fair Valuation Significant Range of March 31, 2018 $ 2,587 Discounted cash flow Probability of default 3.08% - 4.31% December 31, 2017 $ 2,569 Discounted cash flow Probability of default 2.07% - 3.77% 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 3 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 March 31, 2018, amounted to $ 7.4 ($ In Thousands) March 31, 2018 Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 9,608 $ - $ - $ 9,608 Other real estate owned 7,357 - - 7,357 December 31, 2017 Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 9,614 $ - $ - $ 9,614 Other real estate owned 7,158 - - 7,158 |
SECURITIES
SECURITIES | 3 Months Ended |
Mar. 31, 2018 | |
Securities [Abstract] | |
SECURITIES | NOTE 9 - 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 valuation methodologies that management believes are appropriate. 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. ($ In Thousands) March 31, 2018 Amortized Gross Gross Estimated Available-for-sale securities: Obligations of U.S. Government agencies $ 2,497 $ - $ 9 $ 2,488 Tax-exempt and taxable obligations of states and municipal subdivisions 161,081 1,234 1,535 160,780 Mortgage-backed securities 250,307 298 3,950 246,655 Corporate obligations 15,447 7 757 14,697 $ 429,332 $ 1,539 $ 6,251 $ 424,620 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,242 $ - $ 7,242 December 31, 2017 Amortized Gross Gross Estimated Available-for-sale securities: Obligations of U.S. Government agencies $ 4,996 $ - $ 4 $ 4,992 Tax-exempt and taxable obligations of states and municipal subdivisions 137,281 2,028 725 138,584 Mortgage-backed securities 197,346 785 1,554 196,578 Corporate obligations 16,599 21 801 15,819 Other 1,256 - 335 920 $ 357,478 $ 2,834 $ 3,419 $ 356,893 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,398 $ - $ 7,398 The scheduled maturities of securities at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Estimated Amortized Estimated Due less than one year $ 12,566 $ 12,578 $ - $ - Due after one year through five years 58,327 58,320 - - Due after five years through ten years 75,789 76,898 6,000 7,242 Due greater than ten years 32,343 30,169 - - Mortgage-backed securities 250,307 246,655 - - $ 429,332 $ 424,620 $ 6,000 $ 7,242 December 31, 2017 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Estimated Amortized Estimated Due less than one year $ 14,048 $ 14,062 $ - $ - Due after one year through five years 49,519 49,776 - - Due after five years through ten years 57,713 58,589 6,000 7,398 Due greater than ten years 38,852 37,889 - - Mortgage-backed securities 197,346 196,577 - - $ 357,478 $ 356,893 $ 6,000 $ 7,398 Actual maturities can differ from contractual maturities because the obligations may be called or prepaid with or without penalties. March 31, 2018 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Gross Fair Gross Fair Gross Obligations of U.S. government agencies $ 28,211 $ 9 $ - $ - $ 28,211 $ 9 Tax-exempt and taxable obligations of state and municipal subdivisions 76,491 1,142 9,646 393 86,137 1,535 Mortgage-backed securities 150,282 2,520 32,204 1,430 182,486 3,950 Corporate obligations 7,100 54 3,175 703 10,275 757 $ 262,084 $ 3,725 $ 45,025 $ 2,526 $ 307,109 $ 6,251 December 31, 2017 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Gross Fair Gross Fair Gross Obligations of U.S. government agencies $ 4,992 $ 4 $ - $ - $ 4,992 $ 4 Tax-exempt and taxable obligations of state and municipal subdivisions 40,559 501 8,723 224 49,282 725 Mortgage-backed securities 89,313 807 33,287 747 122,600 1,554 Corporate obligations 5,666 9 3,156 792 8,822 801 Other - - 920 335 920 335 $ 140,530 $ 1,321 $ 46,086 $ 2,098 $ 186,616 $ 3,419 |
LOANS
LOANS | 3 Months Ended |
Mar. 31, 2018 | |
Loans Receivable, Net [Abstract] | |
LOANS | NOTE 10 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 March 31, 2018 and December 31, 2017, average loans accounted for 73.2 74.1 Generally, the Company will place a delinquent loan in nonaccrual status when the loan becomes 90 days or more past due. At the time a loan is placed in nonaccrual status, all interest which has been accrued on the loan but remains unpaid is reversed and deducted from earnings as a reduction of reported interest income. No additional interest is accrued on the loan balance until the collection of both principal and interest becomes reasonably certain. March 31, 2018 ($ In thousands) Past Due Past Due Non- Total Total Real Estate-construction $ 289 $ 35 $ 147 $ 471 $ 213,712 Real Estate-mortgage 3,976 456 2,464 6,896 475,868 Real Estate-non farm non-residential 1,541 426 1,778 3,745 561,153 Commercial 784 179 1,314 2,277 213,118 Lease Financing Rec. - - - - 2,433 Obligations of states and subdivisions - - - - 15,861 Consumer 123 - 43 166 34,434 Total $ 6,713 $ 1,096 $ 5,746 $ 13,555 $ 1,516,579 December 31, 2017 ($ In Thousands) Past Due Past Due Non- Total Total Real Estate-construction $ 192 $ 27 $ 92 $ 311 $ 183,328 Real Estate-mortgage 2,656 176 2,692 5,524 385,099 Real Estate-non farm non-residential 1,487 82 1,724 3,293 467,484 Commercial 393 - 1,120 1,513 165,780 Lease Financing Rec. - - - - 2,450 Obligations of states and subdivisions - - - - 3,109 Consumer 57 - 46 103 18,056 Total $ 4,785 $ 285 $ 5,674 $ 10,744 $ 1,225,306 In connection with our acquisition of BCB Holding Company, Inc. in 2014, we acquired loans with deteriorated credit quality. 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. Total outstanding acquired impaired loans were $ 2.0 2.0 ($ In Thousands) March 31, 2018 December 31, 2017 Accretable Carrying Accretable Carrying Balance at beginning of period $ 836 $ 1,185 $ 894 $ 1,305 Accretion (17) 17 (58) 58 Payments received, net - (20) - (178) Charge-off (10) (10) - - Balance at end of period $ 809 $ 1,172 $ 836 $ 1,185 The following tables provide additional detail of impaired loans broken out according to class as of March 31, 2018 and December 31, 2017. The recorded investment included in the following tables represents 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 March 31, 2018 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. March 31, 2018 ($ In Thousands) Average Interest Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD Impaired loans with no related allowance: Commercial installment $ 286 $ 286 $ - $ 278 $ - Commercial real estate 3,947 4,152 - 4,014 39 Consumer real estate 2,454 3,021 - 2,317 20 Consumer installment 53 53 - 41 - Total $ 6,740 $ 7,512 - $ 6,650 $ 59 Impaired loans with a related allowance: Commercial installment $ 1,043 $ 1,043 $ 435 $ 947 $ - Commercial real estate 2,444 2,444 207 2,540 33 Consumer real estate 492 492 130 498 5 Consumer installment 16 16 16 20 - Total $ 3,995 $ 3,995 $ 788 $ 4,005 $ 38 Total Impaired Loans: Commercial installment $ 1,329 $ 1,329 $ 435 $ 1,225 $ - Commercial real estate 6,391 6,596 207 6,554 72 Consumer real estate 2,946 3,513 130 2,815 25 Consumer installment 69 69 16 61 - Total Impaired Loans $ 10,735 $ 11,507 $ 788 $ 10,655 $ 97 As of March 31, 2018, the Company had $ 1.2 0.2 December 31, 2017 ($ In Thousands) Average Interest Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD Impaired loans with no related allowance: Commercial installment $ 270 $ 270 $ - $ 90 $ 1 Commercial real estate 4,080 4,176 - 3,502 101 Consumer real estate 2,180 2,424 - 1,897 83 Consumer installment 29 29 - 17 - Total $ 6,559 $ 6,899 $ - $ 5,506 $ 185 Impaired loans with a related allowance: Commercial installment $ 850 $ 850 $ 267 $ 262 $ 14 Commercial real estate 2,638 2,638 234 2,756 112 Consumer real estate 504 504 137 493 15 Consumer installment 23 23 23 24 - Total $ 4,015 $ 4,015 $ 661 $ 3,535 $ 141 Total Impaired Loans: Commercial installment $ 1,120 $ 1,120 $ 267 $ 352 $ 15 Commercial real estate 6,718 6,814 234 6,258 213 Consumer real estate 2,684 2,928 137 2,390 98 Consumer installment 52 52 23 41 - Total Impaired Loans $ 10,574 $ 10,914 $ 661 $ 9,041 $ 326 March 31, December 31, 2018 2017 ($ In Thousands) Impaired Loans: Impaired loans without a valuation allowance $ 6,740 $ 6,559 Impaired loans with a valuation allowance 3,995 4,015 Total impaired loans $ 10,735 $ 10,574 Allowance for loan losses on impaired loans at period end 788 661 Total nonaccrual loans 5,746 5,674 Past due 90 days or more and still accruing 1,096 285 Average investment in impaired loans 10,655 9,041 ($ In Thousands) Three Months Three Months Interest income recognized during impairment $ 97 $ 100 Cash-basis interest income recognized 97 100 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 ended March 31, 2018 and March 31, 2017 was $ 86,000 75,000 If the Company grants a concession to a borrower in financial difficulty, the loan is classified as a troubled debt restructuring (“TDR”). There were no TDRs modified during the three month period ended March 31, 2018. The balance of TDRs was $ 7.1 6.9 0.1 ($ In Thousands) March 31, 2018 Current Past Due Past Due Non- Total Commercial installment $ 16 $ - $ - $ - $ 16 Commercial real estate 3,314 - 349 1,078 4,741 Consumer real estate 1,195 87 - 1,053 2,335 Consumer installment 27 - - 15 42 Total $ 4,552 $ 87 $ 349 $ 2,146 $ 7,134 Allowance for loan Losses $ 118 $ - $ - $ 15 $ 133 ($ In Thousands) December 31, 2017 Current Past Due Past Due Non- Total Commercial installment $ - $ - $ - $ - $ - Commercial real estate 3,702 92 - 1,025 4,819 Consumer real estate 1,012 89 - 987 2,088 Consumer installment - - 5 18 23 Total $ 4,714 $ 181 $ 5 $ 2,030 $ 6,930 Allowance for loan losses $ 100 $ 22 $ 5 $ 27 $ 154 A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. There were 2 loans which totaled $ 295,000 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. March 31, 2018 ($ In Thousands) Real Real Installment Commercial, Total Pass $ 915,825 $ 297,379 $ 41,767 $ 218,974 $ 1,473,945 Special Mention 14,257 1,912 98 3,173 19,440 Substandard 15,644 5,132 27 2,570 23,373 Doubtful 91 - - 477 568 Subtotal 945,817 304,423 41,892 225,194 1,517,326 Less: Unearned discount 747 - - - 747 Loans, net of unearned discount $ 945,070 $ 304,423 $ 41,892 $ 225,194 $ 1,516,579 December 31, 2017 ($ In Thousands) Real Real Installment Commercial, Total Pass $ 763,572 $ 226,178 $ 28,482 $ 166,819 $ 1,185,051 Special Mention 15,987 680 - 2,908 19,575 Substandard 14,979 4,622 80 1,905 21,586 Doubtful 94 - - 23 117 Subtotal 794,632 231,480 28,562 171,655 1,226,329 Less: Unearned discount 710 65 - 248 1,023 Loans, net of unearned discount $ 793,922 $ 231,415 $ 28,562 $ 171,407 $ 1,225,306 ($ In Thousands) Three Months Three Months Ended Ended March 31, 2018 March 31, 2017 Balance at beginning of period $ 8,288 $ 7,510 Loans charged-off: Real Estate 4 65 Installment and Other 19 8 Commercial, Financial and Agriculture - 1 Total (23) 74 Recoveries on loans previously charged-off: Real Estate 22 301 Installment and Other 87 13 Commercial, Financial and Agriculture 8 17 Total 117 331 Net recoveries 94 257 Provision for Loan Losses 277 46 Balance at end of period $ 8,659 $ 7,813 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 March 31, 2018 and December 31, 2017. Allocation of the Allowance for Loan Losses March 31, 2018 ($ In Thousands) Amount % of loans Commercial Non Real Estate $ 1,916 14.8 % Commercial Real Estate 4,848 62.4 Consumer Real Estate 1,538 20.0 Consumer 177 2.8 Unallocated 180 - Total $ 8,659 100 % December 31, 2017 ($ In Thousands) Amount % of loans Commercial Non Real Estate $ 1,608 14.0 % Commercial Real Estate 4,644 64.8 Consumer Real Estate 1,499 18.9 Consumer 173 2.3 Unallocated 364 - Total $ 8,288 100 % 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 March 31, 2018 and December 31, 2017. 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. See Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations Provision for Loan and Lease Losses” for a description of our methodology. March 31, 2018 ($ In thousands) Installment Financial Real Estate and and Total Loans Individually evaluated $ 9,337 $ 69 $ 1,329 $ 10,735 Collectively evaluated 1,240,156 41,823 223,865 1,505,844 Total $ 1,249,493 $ 41,892 $ 225,194 $ 1,516,579 Allowance for Loan Losses Individually evaluated $ 337 $ 16 $ 435 $ 788 Collectively evaluated 6,229 161 1,481 7,871 Total $ 6,566 $ 177 $ 1,916 $ 8,659 December 31, 2017 ($ In thousands) Commercial, Installment Financial Real Estate and and Total Loans Individually evaluated $ 9,402 $ 52 $ 1,120 $ 10,574 Collectively evaluated 1,015,934 28,511 170,287 1,214,732 Total $ 1,025,336 $ 28,563 $ 171,407 $ 1,225,306 Allowance for Loan Losses Individually evaluated $ 371 $ 23 $ 267 $ 661 Collectively evaluated 5,952 334 1,341 7,627 Total $ 6,323 $ 357 $ 1,608 $ 8,288 |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE FROM CONTRACTS WITH CUSTOMERS | NOTE 11 REVENUE FROM CONTRACTS WITH CUSTOMERS On January 1, 2018, the Company adopted ASU No. 2014-09, Revenue from Contracts with Customers. The Company concluded that there is no change to the timing and pattern of revenue recognition for its current revenue streams or the presentation of revenue as gross versus net. No adjustment to retained earnings was required on the adoption date. Because there is no change to the timing and pattern of revenue recognition, there are no material changes to the Company’s processes and internal controls. All of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized within noninterest income. A description of the Company’s revenue streams accounted for under ASC 606 is as follows: Service Charges on Deposit Accounts : The Company earns fees from deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed at the point in the time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Interchange Income : The Company earns interchange fees from debit and credit card holder transaction conducted through various payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided by the cardholder. Gains/Losses on Sales of OREO |
SUBSEQUENT EVENTS_OTHER
SUBSEQUENT EVENTS/OTHER | 3 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS/OTHER | NOTE 12 SUBSEQUENT EVENTS/OTHER Subsequent events have been evaluated by management through the date the financial statements were issued. Sunshine Financial, Inc. On April 1, 2018, the Company completed its acquisition of Sunshine Financial, Inc. (“Sunshine”) 30.5 726,461 7,030,800 213.1 Expenses associated with the acquisition were $ 0.4 Subordinated Notes On April 30, 2018, The Company entered into two Subordinated Note Purchase Agreements pursuant to which the Company sold and issued $ 24 5.875 42 6.40 The Notes are not convertible into or exchangeable for any other securities or assets of the Company or any of its subsidiaries. The Notes are not subject to redemption at the option of the holder. Principal and interest on the Notes are subject to acceleration only in limited circumstances. The Notes are unsecured, subordinated obligations of the Company and rank junior in right to payment to the Company’s current and future senior indebtedness, and each Note is pari passu in right to payment with respect to the other Notes. The Company intends to use the net proceeds from the sale of the Notes for general corporate purposes, which may include increasing bank level capital ratios to support future growth, repaying an existing line of credit and establishing holding company reserves. |
RECLASSIFICATION
RECLASSIFICATION | 3 Months Ended |
Mar. 31, 2018 | |
Reclassification [Abstract] | |
RECLASSIFICATION | NOTE 13 RECLASSIFICATION Certain amounts in the 2017 financial statements have been reclassified for comparative purposes to conform to the current period financial statement presentation. |
BUSINESS COMBINATIONS (Tables)
BUSINESS COMBINATIONS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Southwest Banc Shares, Inc. [Member] | |
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: ($ In Thousands) Purchase price: Cash and stock $ 60,005 Total purchase price 60,005 Identifiable assets: Cash and due from banks 44,904 Investments 67,150 Loans 269,874 Core deposit intangible 4,177 Personal and real property 10,538 Other assets 1,843 Total assets 398,486 Liabilities and equity: Deposits 357,290 Borrowed funds 6,858 Other liabilities 2,030 Total liabilities 366,178 Net assets acquired 32,308 Goodwill resulting from acquisition $ 27,697 |
Business Combination, Separately Recognized Transactions | The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at March 31, 2018, are as follows($ In Thousands): Outstanding principal balance $ 261,626 Carrying amount 256,831 |
Business Acquisition, Pro Forma Information | The following unaudited pro-forma financial information for the three months ended March 31, 2018 and March 31, 2017 gives effect to the acquisition as if the acquisition had occurred on January 1, 2018 and 2017. The pro-forma financial information is not necessarily indicative of the results of operations had the acquisition been effective as of this date. ($ In Thousands) Pro-Forma Pro-Forma March 31, 2018 March 31, 2017 (unaudited) (unaudited) Net interest income $ 18,603 $ 17,563 Non-interest income 4,038 4,166 Total revenue 22,641 21,729 Income before income taxes 7,869 2,379 |
Iberville Bank [Member] | |
Business Combination, Separately Recognized Transactions | The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at March 31, 2018, are as follows: ($ In Thousands) Outstanding principal balance $ 110,738 Carrying amount 110,075 |
Gulf Coast Community [Member] | |
Business Combination, Separately Recognized Transactions | The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at March 31, 2018, are as follows: ($ In Thousands) Outstanding principal balance $ 55,248 Carrying amount 55,344 |
EARNINGS APPLICABLE TO COMMON23
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Weighted-Average Number of Common Shares Outstanding | Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as restricted stock grants. For the Three Months Ended March 31, 2018 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 3,957,000 11,556,968 $ 0.34 Effect of dilutive shares: Restricted stock grants 95,991 Diluted per share $ 3,957,000 11,652,959 $ 0.34 For the Three Months Ended March 31, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 1,122,000 9,123,271 $ 0.12 Effect of dilutive shares: Restricted stock grants 59,440 Diluted per share $ 1,122,000 9,182,711 $ 0.12 |
FINANCIAL INSTRUMENTS WITH OF24
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
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. At March 31, 2018, and December 31, 2017, these financial instruments consisted of the following: ($ In Thousands) March 31, 2018 December 31, 2017 Commitments to extend credit $ 243,092 $ 281,381 Standby letters of credit 9,454 8,207 |
FAIR VALUE DISCLOSURES AND RE25
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 ($ In Thousands) Fair Value Measurements Carrying Estimated Quoted Significant Significant Financial Instruments: Assets: Cash and cash equivalents $ 162,521 $ 162,521 $ 162,521 $ - $ - Securities available-for-sale 424,620 424,620 - 422,033 2,587 Securities held-to-maturity 6,000 7,242 - 7,242 - Other securities 11,308 11,308 n/a n/a n/a Loans, net 1,510,458 1,503,383 - - 1,503,383 Accrued interest receivable 8,027 8,027 - 3,000 5,027 Liabilities: Noninterest-bearing deposits $ 414,142 $ 414,142 $ - $ 414,142 $ - Interest-bearing deposits 1,577,502 1,557,342 - 1,557,342 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 29,034 29,034 - 29,034 - Accrued interest payable 490 490 - 490 - As of December 31, 2017 ($ In Thousands) Fair Value Measurements Carrying Estimated Quoted Significant Significant Financial Instruments: Assets: Cash and cash equivalents $ 91,921 $ 91,921 $ 91,921 $ - $ - Securities available-for-sale 356,893 356,893 920 353,404 2,569 Securities held-to-maturity 6,000 7,398 - 7,398 - Other securities 9,969 9,969 n/a n/a n/a Loans, net 1,221,808 1,230,237 - - 1,230,237 Accrued interest receivable 6,705 6,705 - 2,287 4,418 Liabilities: Noninterest-bearing deposits $ 301,989 $ 301,989 $ - $ 301,989 $ - Interest-bearing deposits 1,168,576 1,165,682 - 1,165,682 - Subordinated debentures 10,310 10,310 - - 10,310 FHLB and other borrowings 104,072 104,072 - 104,072 - Accrued interest payable 353 353 - 353 - |
Fair Value Assets Measured on Recurring Basis | March 31, 2018 ($ In Thousands) Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 2,488 $ - $ 2,488 $ - Municipal securities 160,780 - 160,780 - Mortgage-backed securities 246,655 - 246,655 - Corporate obligations 14,697 - 12,110 2,587 Total $ 424,620 $ - $ 422,033 $ 2,587 December 31, 2017 ($ In Thousands) Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 4,992 $ - $ 4,992 $ - Municipal securities 138,584 - 138,584 - Mortgage-backed securities 196,578 - 196,578 - Corporate obligations 15,819 - 13,250 2,569 Other 920 920 - - Total $ 356,893 $ 920 $ 353,404 $ 2,569 |
Reconciliation of Activity for Assets Measured at Fair Value based on Significant Unobservable (Non-market) Information | ($ In Thousands) Bank-Issued 2018 2017 Balance, January 1 $ 2,569 $ 2,241 Transfers into Level 3 - - Transfers out of Level 3 - - Other-than-temporary impairment loss included in earnings (loss) - - Unrealized gain included in comprehensive income 18 328 Balance at March 31, 2018 and December 31, 2017 $ 2,587 $ 2,569 |
Quantitative Information About Recurring Level 3 Fair Value Measurements | The following table presents quantitative information about recurring Level 3 fair value measurements (in thousands): Trust Preferred Fair Valuation Significant Range of March 31, 2018 $ 2,587 Discounted cash flow Probability of default 3.08% - 4.31% December 31, 2017 $ 2,569 Discounted cash flow Probability of default 2.07% - 3.77% |
Fair Value Assets Measured on Nonrecurring Basis | ($ In Thousands) March 31, 2018 Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 9,608 $ - $ - $ 9,608 Other real estate owned 7,357 - - 7,357 December 31, 2017 Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 9,614 $ - $ - $ 9,614 Other real estate owned 7,158 - - 7,158 |
SECURITIES (Tables)
SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Available-For-Sale Securities and Held-to-Maturity Securities | ($ In Thousands) March 31, 2018 Amortized Gross Gross Estimated Available-for-sale securities: Obligations of U.S. Government agencies $ 2,497 $ - $ 9 $ 2,488 Tax-exempt and taxable obligations of states and municipal subdivisions 161,081 1,234 1,535 160,780 Mortgage-backed securities 250,307 298 3,950 246,655 Corporate obligations 15,447 7 757 14,697 $ 429,332 $ 1,539 $ 6,251 $ 424,620 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,242 $ - $ 7,242 December 31, 2017 Amortized Gross Gross Estimated Available-for-sale securities: Obligations of U.S. Government agencies $ 4,996 $ - $ 4 $ 4,992 Tax-exempt and taxable obligations of states and municipal subdivisions 137,281 2,028 725 138,584 Mortgage-backed securities 197,346 785 1,554 196,578 Corporate obligations 16,599 21 801 15,819 Other 1,256 - 335 920 $ 357,478 $ 2,834 $ 3,419 $ 356,893 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,398 $ - $ 7,398 |
Maturities of Securities | The scheduled maturities of securities at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Estimated Amortized Estimated Due less than one year $ 12,566 $ 12,578 $ - $ - Due after one year through five years 58,327 58,320 - - Due after five years through ten years 75,789 76,898 6,000 7,242 Due greater than ten years 32,343 30,169 - - Mortgage-backed securities 250,307 246,655 - - $ 429,332 $ 424,620 $ 6,000 $ 7,242 December 31, 2017 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Estimated Amortized Estimated Due less than one year $ 14,048 $ 14,062 $ - $ - Due after one year through five years 49,519 49,776 - - Due after five years through ten years 57,713 58,589 6,000 7,398 Due greater than ten years 38,852 37,889 - - Mortgage-backed securities 197,346 196,577 - - $ 357,478 $ 356,893 $ 6,000 $ 7,398 |
Securities Classified as Available-for-Sale with Unrealized Losses | The details concerning securities classified as available-for-sale with unrealized losses as of March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Gross Fair Gross Fair Gross Obligations of U.S. government agencies $ 28,211 $ 9 $ - $ - $ 28,211 $ 9 Tax-exempt and taxable obligations of state and municipal subdivisions 76,491 1,142 9,646 393 86,137 1,535 Mortgage-backed securities 150,282 2,520 32,204 1,430 182,486 3,950 Corporate obligations 7,100 54 3,175 703 10,275 757 $ 262,084 $ 3,725 $ 45,025 $ 2,526 $ 307,109 $ 6,251 December 31, 2017 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Gross Fair Gross Fair Gross Obligations of U.S. government agencies $ 4,992 $ 4 $ - $ - $ 4,992 $ 4 Tax-exempt and taxable obligations of state and municipal subdivisions 40,559 501 8,723 224 49,282 725 Mortgage-backed securities 89,313 807 33,287 747 122,600 1,554 Corporate obligations 5,666 9 3,156 792 8,822 801 Other - - 920 335 920 335 $ 140,530 $ 1,321 $ 46,086 $ 2,098 $ 186,616 $ 3,419 |
LOANS (Tables)
LOANS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Loans Receivable, Net [Abstract] | |
Summary of Loans Classified as Past Due in Excess of Thirty Days or More and Loans Classified as Non-Accrual | March 31, 2018 ($ In thousands) Past Due Past Due Non- Total Total Real Estate-construction $ 289 $ 35 $ 147 $ 471 $ 213,712 Real Estate-mortgage 3,976 456 2,464 6,896 475,868 Real Estate-non farm non-residential 1,541 426 1,778 3,745 561,153 Commercial 784 179 1,314 2,277 213,118 Lease Financing Rec. - - - - 2,433 Obligations of states and subdivisions - - - - 15,861 Consumer 123 - 43 166 34,434 Total $ 6,713 $ 1,096 $ 5,746 $ 13,555 $ 1,516,579 December 31, 2017 ($ In Thousands) Past Due Past Due Non- Total Total Real Estate-construction $ 192 $ 27 $ 92 $ 311 $ 183,328 Real Estate-mortgage 2,656 176 2,692 5,524 385,099 Real Estate-non farm non-residential 1,487 82 1,724 3,293 467,484 Commercial 393 - 1,120 1,513 165,780 Lease Financing Rec. - - - - 2,450 Obligations of states and subdivisions - - - - 3,109 Consumer 57 - 46 103 18,056 Total $ 4,785 $ 285 $ 5,674 $ 10,744 $ 1,225,306 The following tables set forth the amounts and past due status for the Bank TDRs at March 31, 2018 and December 31, 2017: ($ In Thousands) March 31, 2018 Current Past Due Past Due Non- Total Commercial installment $ 16 $ - $ - $ - $ 16 Commercial real estate 3,314 - 349 1,078 4,741 Consumer real estate 1,195 87 - 1,053 2,335 Consumer installment 27 - - 15 42 Total $ 4,552 $ 87 $ 349 $ 2,146 $ 7,134 Allowance for loan Losses $ 118 $ - $ - $ 15 $ 133 ($ In Thousands) December 31, 2017 Current Past Due Past Due Non- Total Commercial installment $ - $ - $ - $ - $ - Commercial real estate 3,702 92 - 1,025 4,819 Consumer real estate 1,012 89 - 987 2,088 Consumer installment - - 5 18 23 Total $ 4,714 $ 181 $ 5 $ 2,030 $ 6,930 Allowance for loan losses $ 100 $ 22 $ 5 $ 27 $ 154 |
Schedule of certain loans acquired in transfer carrying amount and accretable yield for acquired impaired loans | ($ In Thousands) March 31, 2018 December 31, 2017 Accretable Carrying Accretable Carrying Balance at beginning of period $ 836 $ 1,185 $ 894 $ 1,305 Accretion (17) 17 (58) 58 Payments received, net - (20) - (178) Charge-off (10) (10) - - Balance at end of period $ 809 $ 1,172 $ 836 $ 1,185 |
Troubled Debt Restructurings | March 31, 2018 ($ In Thousands) Average Interest Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD Impaired loans with no related allowance: Commercial installment $ 286 $ 286 $ - $ 278 $ - Commercial real estate 3,947 4,152 - 4,014 39 Consumer real estate 2,454 3,021 - 2,317 20 Consumer installment 53 53 - 41 - Total $ 6,740 $ 7,512 - $ 6,650 $ 59 Impaired loans with a related allowance: Commercial installment $ 1,043 $ 1,043 $ 435 $ 947 $ - Commercial real estate 2,444 2,444 207 2,540 33 Consumer real estate 492 492 130 498 5 Consumer installment 16 16 16 20 - Total $ 3,995 $ 3,995 $ 788 $ 4,005 $ 38 Total Impaired Loans: Commercial installment $ 1,329 $ 1,329 $ 435 $ 1,225 $ - Commercial real estate 6,391 6,596 207 6,554 72 Consumer real estate 2,946 3,513 130 2,815 25 Consumer installment 69 69 16 61 - Total Impaired Loans $ 10,735 $ 11,507 $ 788 $ 10,655 $ 97 As of March 31, 2018, the Company had $ 1.2 0.2 December 31, 2017 ($ In Thousands) Average Interest Recorded Income Recorded Unpaid Related Investment Recognized Investment Balance Allowance YTD YTD Impaired loans with no related allowance: Commercial installment $ 270 $ 270 $ - $ 90 $ 1 Commercial real estate 4,080 4,176 - 3,502 101 Consumer real estate 2,180 2,424 - 1,897 83 Consumer installment 29 29 - 17 - Total $ 6,559 $ 6,899 $ - $ 5,506 $ 185 Impaired loans with a related allowance: Commercial installment $ 850 $ 850 $ 267 $ 262 $ 14 Commercial real estate 2,638 2,638 234 2,756 112 Consumer real estate 504 504 137 493 15 Consumer installment 23 23 23 24 - Total $ 4,015 $ 4,015 $ 661 $ 3,535 $ 141 Total Impaired Loans: Commercial installment $ 1,120 $ 1,120 $ 267 $ 352 $ 15 Commercial real estate 6,718 6,814 234 6,258 213 Consumer real estate 2,684 2,928 137 2,390 98 Consumer installment 52 52 23 41 - Total Impaired Loans $ 10,574 $ 10,914 $ 661 $ 9,041 $ 326 |
Impaired Loans | The following table represents the Company’s impaired loans at March 31, 2018, and December 31, 2017. March 31, December 31, 2018 2017 ($ In Thousands) Impaired Loans: Impaired loans without a valuation allowance $ 6,740 $ 6,559 Impaired loans with a valuation allowance 3,995 4,015 Total impaired loans $ 10,735 $ 10,574 Allowance for loan losses on impaired loans at period end 788 661 Total nonaccrual loans 5,746 5,674 Past due 90 days or more and still accruing 1,096 285 Average investment in impaired loans 10,655 9,041 |
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: ($ In Thousands) Three Months Three Months Interest income recognized during impairment $ 97 $ 100 Cash-basis interest income recognized 97 100 |
Risk Category of Loans by Class of Loans | As of March 31, 2018 and December 31, 2017, 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: March 31, 2018 ($ In Thousands) Real Real Installment Commercial, Total Pass $ 915,825 $ 297,379 $ 41,767 $ 218,974 $ 1,473,945 Special Mention 14,257 1,912 98 3,173 19,440 Substandard 15,644 5,132 27 2,570 23,373 Doubtful 91 - - 477 568 Subtotal 945,817 304,423 41,892 225,194 1,517,326 Less: Unearned discount 747 - - - 747 Loans, net of unearned discount $ 945,070 $ 304,423 $ 41,892 $ 225,194 $ 1,516,579 December 31, 2017 ($ In Thousands) Real Real Installment Commercial, Total Pass $ 763,572 $ 226,178 $ 28,482 $ 166,819 $ 1,185,051 Special Mention 15,987 680 - 2,908 19,575 Substandard 14,979 4,622 80 1,905 21,586 Doubtful 94 - - 23 117 Subtotal 794,632 231,480 28,562 171,655 1,226,329 Less: Unearned discount 710 65 - 248 1,023 Loans, net of unearned discount $ 793,922 $ 231,415 $ 28,562 $ 171,407 $ 1,225,306 |
Activity in Allowance for Loan Losses | Activity in the allowance for loan losses for the period was as follows: ($ In Thousands) Three Months Three Months Ended Ended March 31, 2018 March 31, 2017 Balance at beginning of period $ 8,288 $ 7,510 Loans charged-off: Real Estate 4 65 Installment and Other 19 8 Commercial, Financial and Agriculture - 1 Total (23) 74 Recoveries on loans previously charged-off: Real Estate 22 301 Installment and Other 87 13 Commercial, Financial and Agriculture 8 17 Total 117 331 Net recoveries 94 257 Provision for Loan Losses 277 46 Balance at end of period $ 8,659 $ 7,813 |
Allocation of Allowance for Loan Losses | Allocation of the Allowance for Loan Losses March 31, 2018 ($ In Thousands) Amount % of loans Commercial Non Real Estate $ 1,916 14.8 % Commercial Real Estate 4,848 62.4 Consumer Real Estate 1,538 20.0 Consumer 177 2.8 Unallocated 180 - Total $ 8,659 100 % December 31, 2017 ($ In Thousands) Amount % of loans Commercial Non Real Estate $ 1,608 14.0 % Commercial Real Estate 4,644 64.8 Consumer Real Estate 1,499 18.9 Consumer 173 2.3 Unallocated 364 - Total $ 8,288 100 % |
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 March 31, 2018 and December 31, 2017. 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. See Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations Provision for Loan and Lease Losses” for a description of our methodology. March 31, 2018 ($ In thousands) Installment Financial Real Estate and and Total Loans Individually evaluated $ 9,337 $ 69 $ 1,329 $ 10,735 Collectively evaluated 1,240,156 41,823 223,865 1,505,844 Total $ 1,249,493 $ 41,892 $ 225,194 $ 1,516,579 Allowance for Loan Losses Individually evaluated $ 337 $ 16 $ 435 $ 788 Collectively evaluated 6,229 161 1,481 7,871 Total $ 6,566 $ 177 $ 1,916 $ 8,659 December 31, 2017 ($ In thousands) Commercial, Installment Financial Real Estate and and Total Loans Individually evaluated $ 9,402 $ 52 $ 1,120 $ 10,574 Collectively evaluated 1,015,934 28,511 170,287 1,214,732 Total $ 1,025,336 $ 28,563 $ 171,407 $ 1,225,306 Allowance for Loan Losses Individually evaluated $ 371 $ 23 $ 267 $ 661 Collectively evaluated 5,952 334 1,341 7,627 Total $ 6,323 $ 357 $ 1,608 $ 8,288 |
SUMMARY OF ORGANIZATION - Addit
SUMMARY OF ORGANIZATION - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Organization [Line Items] | ||||
Assets | $ 2,299,413 | $ 1,813,238 | ||
Loans, including Loans held for sale | 1,500,000 | |||
Deposits | 1,991,644 | 1,470,565 | ||
Stockholders' equity | 258,539 | $ 159,005 | $ 222,468 | $ 154,527 |
Net income | $ 3,957 | $ 1,122 | ||
Dividends on common stock, per share | $ 0.05 | $ 0.0375 | ||
Noncash Merger Related Costs | $ 1,400 |
RECENT ACCOUNTING PRONOUNCEME29
RECENT ACCOUNTING PRONOUNCEMENTS - Additional Information (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Accounting Changes and Error Corrections [Abstract] | |
Reclassification from AOCI, Current Period, Tax | $ 76 |
BUSINESS COMBINATIONS - Additio
BUSINESS COMBINATIONS - Additional Information (Detail) - USD ($) | Mar. 03, 2017 | Jan. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 |
Business Acquisition [Line Items] | |||||
Goodwill | $ 47,657,000 | $ 19,960,000 | |||
Iberville Bank [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||
Payments to Acquire Businesses, Gross | $ 31,100,000 | ||||
Escrow Deposit | 2,500,000 | ||||
Goodwill, Acquired During Period | 5,100,000 | ||||
Business Acquisition Purchase Price Allocation Loans Receivable | 149,400,000 | ||||
Business Combination Recognized Assets Acquired and Liabilities Assumed, Discount on Loans Acquired | 800,000 | ||||
Business Combination, Acquisition Related Costs | 0 | $ 3,200,000 | |||
Escrow Deposit Receivable from Flood Loans | 498,207 | ||||
Iberville Bank [Member] | Core Deposits [Member] | |||||
Business Acquisition [Line Items] | |||||
Finite-lived Intangible Assets Acquired | $ 2,700,000 | ||||
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 | $ 2,300,000 | ||||
Goodwill, Acquired During Period | 1,100,000 | ||||
Business Acquisition Purchase Price Allocation Loans Receivable | 91,000,000 | ||||
Business Combination Recognized Assets Acquired and Liabilities Assumed, Discount on Loans Acquired | 2,200,000 | ||||
Business Combination, Acquisition Related Costs | 0 | $ 400,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 1,000,000 | ||||
Sale Value Of Loans Acquired In Business Combination | $ 5,000,000 | ||||
Decrease in Acquisition Credit Mark | $ 2,200,000 | ||||
Gulf Coast Community Bank [Member] | Core Deposits [Member] | |||||
Business Acquisition [Line Items] | |||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||
Southwest Banc Shares, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Payments to Acquire Businesses, Gross | $ 24,000,000 | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||
Business Acquisition Purchase Price Allocation Loans Receivable | $ 274,700,000 | ||||
Business Combination Recognized Assets Acquired and Liabilities Assumed, Discount on Loans Acquired | 4,800,000 | ||||
Business Combination, Acquisition Related Costs | 1,400,000 | ||||
Business Combination, Consideration Transferred | 60,005,000 | ||||
Goodwill | 27,697,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 4,177,000 | ||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,134,010 |
Summary of Acquired Identifiabl
Summary of Acquired Identifiable Assets and Liabilities for Southwest Banc Shares, Inc. (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Liabilities and equity: | ||
Goodwill resulting from acquisition | $ 47,657 | $ 19,960 |
Southwest Banc Shares, Inc. [Member] | ||
Purchase price: | ||
Cash and stock | 60,005 | |
Total purchase price | 60,005 | |
Identifiable assets: | ||
Cash and due from banks | 44,904 | |
Investments | 67,150 | |
Loans | 269,874 | |
Core deposit intangible | 4,177 | |
Personal and real property | 10,538 | |
Other assets | 1,843 | |
Total assets | 398,486 | |
Liabilities and equity: | ||
Deposits | 357,290 | |
Borrowed funds | 6,858 | |
Other liabilities | 2,030 | |
Total liabilities | 366,178 | |
Net assets acquired | 32,308 | |
Goodwill resulting from acquisition | $ 27,697 |
Outstanding Principal Balance a
Outstanding Principal Balance and Carrying Amount of Loans for Southwest Banc Shares, Inc. (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding principal balance | $ 2,000 | $ 2,000 | |
Carrying amount | 1,172 | $ 1,185 | $ 1,305 |
Southwest Banc Shares, Inc. [Member] | |||
Outstanding principal balance | 261,626 | ||
Carrying amount | $ 256,831 |
Unaudited Supplemental Pro Form
Unaudited Supplemental Pro Forma Information for Southwest Banc Shares, Inc. (Detail) - Southwest Banc Shares, Inc. [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $ 22,641 | $ 21,729 |
Income before income taxes | 7,869 | 2,379 |
Net interest income [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | 18,603 | 17,563 |
Non-interest income [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $ 4,038 | $ 4,166 |
Outstanding Principal Balance34
Outstanding Principal Balance and Carrying Amount of Loans for Iberville Bank (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding principal balance | $ 2,000 | $ 2,000 | |
Carrying amount | 1,172 | $ 1,185 | $ 1,305 |
Iberville Bank [Member] | |||
Outstanding principal balance | 110,738 | ||
Carrying amount | $ 110,075 |
Outstanding Principal Balance35
Outstanding Principal Balance and Carrying Amount of Loans for Gulf Coast Community Bank (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding principal balance | $ 2,000 | $ 2,000 | |
Carrying amount | 1,172 | $ 1,185 | $ 1,305 |
Gulf Coast Community Bank [Member] | |||
Outstanding principal balance | 55,248 | ||
Carrying amount | $ 55,344 |
EARNINGS APPLICABLE TO COMMON36
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS - Additional Information (Detail) - shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share Basic [Line Items] | ||
Shares of restricted stock granted | 51,851 | 73,827 |
Reconciliation of Numerators an
Reconciliation of Numerators and Denominators of Basic and Diluted Computations (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share Basic [Line Items] | ||
Net income available to common stock holders, basic | $ 3,957,000 | $ 1,122,000 |
Net income available to common stock holders, diluted | $ 3,957,000 | $ 1,122,000 |
Effect of dilutive shares: | ||
Weighted average number of shares outstanding, basic | 11,556,968 | 9,123,271 |
Restricted stock grants | 95,991 | 59,440 |
Weighted average number of shares outstanding, diluted | 11,652,959 | 9,182,711 |
Basic per share | $ 0.34 | $ 0.12 |
Diluted per share | $ 0.34 | $ 0.12 |
FINANCIAL INSTRUMENTS WITH OF38
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 243,092 | $ 281,381 |
Standby letters of credit | $ 9,454 | $ 8,207 |
FAIR VALUE DISCLOSURES AND RE39
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Additional Information (Detail) $ in Millions | Mar. 31, 2018USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets measured at fair value on a non recurring basis | $ 7.4 |
Fair Values of off-Balance Shee
Fair Values of off-Balance Sheet Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Assets: | ||||
Cash and cash equivalents | $ 162,521 | $ 91,921 | $ 148,511 | $ 62,119 |
Securities available-for- sale | 424,620 | 356,893 | ||
Securities held- to-maturity | 6,000 | 6,000 | ||
Other securities | 11,308 | 9,969 | ||
Loans, net | 1,510,458 | 1,221,808 | ||
Accrued interest receivable | 8,027 | 6,705 | ||
Liabilities: | ||||
Noninterest- bearing deposits | 414,142 | 301,989 | ||
Interest-bearing deposits | 1,577,502 | 1,168,576 | ||
Subordinated debentures | 10,310 | 10,310 | ||
FHLB and other borrowings | 29,034 | 104,072 | ||
Accrued interest payable | 490 | 353 | ||
Quoted Prices (Level 1) | ||||
Assets: | ||||
Cash and cash equivalents | 162,521 | 91,921 | ||
Securities available-for- sale | 0 | 920 | ||
Securities held- to-maturity | 0 | 0 | ||
Other securities | ||||
Loans, net | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Liabilities: | ||||
Noninterest- bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
FHLB and other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | ||||
Assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available-for- sale | 422,033 | 353,404 | ||
Securities held- to-maturity | 7,242 | 7,398 | ||
Other securities | ||||
Loans, net | 0 | 0 | ||
Accrued interest receivable | 3,000 | 2,287 | ||
Liabilities: | ||||
Noninterest- bearing deposits | 414,142 | 301,989 | ||
Interest-bearing deposits | 1,557,342 | 1,165,682 | ||
Subordinated debentures | 0 | 0 | ||
FHLB and other borrowings | 29,034 | 104,072 | ||
Accrued interest payable | 490 | 353 | ||
Significant Unobservable Inputs (Level 3) | ||||
Assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available-for- sale | 2,587 | 2,569 | ||
Securities held- to-maturity | 0 | 0 | ||
Other securities | ||||
Loans, net | 1,503,383 | 1,230,237 | ||
Accrued interest receivable | 5,027 | 4,418 | ||
Liabilities: | ||||
Noninterest- bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Subordinated debentures | 10,310 | 10,310 | ||
FHLB and other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Estimated Fair Value | ||||
Assets: | ||||
Cash and cash equivalents | 162,521 | 91,921 | ||
Securities available-for- sale | 424,620 | 356,893 | ||
Securities held- to-maturity | 7,242 | 7,398 | ||
Other securities | 11,308 | 9,969 | ||
Loans, net | 1,503,383 | 1,230,237 | ||
Accrued interest receivable | 8,027 | 6,705 | ||
Liabilities: | ||||
Noninterest- bearing deposits | 414,142 | 301,989 | ||
Interest-bearing deposits | 1,557,342 | 1,165,682 | ||
Subordinated debentures | 10,310 | 10,310 | ||
FHLB and other borrowings | 29,034 | 104,072 | ||
Accrued interest payable | $ 490 | $ 353 |
Fair Value of Assets Measured o
Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | $ 424,620 | $ 356,893 |
Obligations of U. S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 2,488 | 4,992 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 160,780 | 138,584 |
Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 246,655 | 196,578 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 14,697 | 15,819 |
Other | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 920 | |
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 | 0 | 920 |
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 | 920 | |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 422,033 | 353,404 |
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 | 2,488 | 4,992 |
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 | 160,780 | 138,584 |
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 | 246,655 | 196,578 |
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 | 12,110 | 13,250 |
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 | |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 2,587 | 2,569 |
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 | $ 2,587 | 2,569 |
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 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Balance, January 1 | $ 2,569 | $ 2,241 |
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 | 18 | 328 |
Balance at March 31, 2018 and December 31, 2017 | $ 2,587 | $ 2,569 |
Quantitative Information About
Quantitative Information About Recurring Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Quantitative Information About Recurring Fair Value Measurements [Line Items] | ||
Valuation Technique | Discounted cash flow | Discounted cash flow |
Significant Unobservable Inputs | Probability of default | Probability of default |
Range of Inputs, Minimum | 3.08% | 2.07% |
Range of Inputs, Maximum | 4.31% | 3.77% |
Fair Value Input Level 3 | ||
Quantitative Information About Recurring Fair Value Measurements [Line Items] | ||
Fair Value | $ 2,587 | $ 2,569 |
Fair Value of Assets Measured44
Fair Value of Assets Measured on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 7,400 | |
Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 9,608 | $ 9,614 |
Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 7,357 | 7,158 |
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 | 0 | 0 |
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 | 0 | 0 |
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 | 9,608 | 9,614 |
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 | $ 7,357 | $ 7,158 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | $ 429,332 | $ 357,478 |
Available-for-sale Securities, Gross Unrealized Gains | 1,539 | 2,834 |
Available-for-sale Securities, Gross Unrealized Losses | 6,251 | 3,419 |
Available-for-sale securities, Estimated Fair Value | 424,620 | 356,893 |
Held-to-Maturity, Estimated Fair Value | 7,242 | 7,398 |
Obligations of U.S. Government agencies | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 2,497 | 4,996 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 9 | 4 |
Available-for-sale securities, Estimated Fair Value | 2,488 | 4,992 |
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 | 161,081 | 137,281 |
Available-for-sale Securities, Gross Unrealized Gains | 1,234 | 2,028 |
Available-for-sale Securities, Gross Unrealized Losses | 1,535 | 725 |
Available-for-sale securities, Estimated Fair Value | 160,780 | 138,584 |
Held-to-Maturity, Amortized Cost | 6,000 | 6,000 |
Held-to-maturity Securities, Gross Unrealized Gains | 1,242 | 1,398 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Estimated Fair Value | 7,242 | 7,398 |
Mortgage-backed securities | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 250,307 | 197,346 |
Available-for-sale Securities, Gross Unrealized Gains | 298 | 785 |
Available-for-sale Securities, Gross Unrealized Losses | 3,950 | 1,554 |
Available-for-sale securities, Estimated Fair Value | 246,655 | 196,578 |
Corporate obligations | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 15,447 | 16,599 |
Available-for-sale Securities, Gross Unrealized Gains | 7 | 21 |
Available-for-sale Securities, Gross Unrealized Losses | 757 | 801 |
Available-for-sale securities, Estimated Fair Value | $ 14,697 | 15,819 |
Other | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 1,256 | |
Available-for-sale Securities, Gross Unrealized Gains | 0 | |
Available-for-sale Securities, Gross Unrealized Losses | 335 | |
Available-for-sale securities, Estimated Fair Value | $ 920 |
Maturities of Securities (Detai
Maturities of Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-Sale, Amortized Cost | ||
Due less than one year | $ 12,566 | $ 14,048 |
Due after one year through five years | 58,327 | 49,519 |
Due after five years through ten years | 75,789 | 57,713 |
Due greater than ten years | 32,343 | 38,852 |
Mortgage-backed securities | 250,307 | 197,346 |
Total | 429,332 | 357,478 |
Available-for-sale, Estimated Fair Value | ||
Due less than one year | 12,578 | 14,062 |
Due after one year through five years | 58,320 | 49,776 |
Due after five years through ten years | 76,898 | 58,589 |
Due greater than ten years | 30,169 | 37,889 |
Mortgage-backed securities | 246,655 | 196,577 |
Total | 424,620 | 356,893 |
Held-to-maturity, Amortized Cost | ||
Due less than one year | 0 | 0 |
Due after one year through five years | 0 | 0 |
Due after five years through ten years | 6,000 | 6,000 |
Due greater than ten years | 0 | 0 |
Mortgage-backed securities | 0 | 0 |
Total | 6,000 | 6,000 |
Held-to-maturity, Estimated Fair Value | ||
Due less than one year | 0 | 0 |
Due after one year through five years | 0 | 0 |
Due after five years through ten years | 7,242 | 7,398 |
Due greater than ten years | 0 | 0 |
Mortgage-backed securities | 0 | 0 |
Total | $ 7,242 | $ 7,398 |
Securities Classified as Availa
Securities Classified as Available-for-Sale with Unrealized Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | $ 262,084 | $ 140,530 |
Fair Value, Losses 12 Months or More | 45,025 | 46,086 |
Fair Value, Total | 307,109 | 186,616 |
Gross Unrealized Losses, Losses less than 12 Months | 3,725 | 1,321 |
Gross Unrealized Losses, Losses 12 Months or More | 2,526 | 2,098 |
Gross Unrealized Losses, Total | 6,251 | 3,419 |
Obligations of U.S. government agencies | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | 28,211 | 4,992 |
Fair Value, Losses 12 Months or More | 0 | 0 |
Fair Value, Total | 28,211 | 4,992 |
Gross Unrealized Losses, Losses less than 12 Months | 9 | 4 |
Gross Unrealized Losses, Losses 12 Months or More | 0 | 0 |
Gross Unrealized Losses, Total | 9 | 4 |
Tax-exempt and taxable obligations of state and municipal subdivisions | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | 76,491 | 40,559 |
Fair Value, Losses 12 Months or More | 9,646 | 8,723 |
Fair Value, Total | 86,137 | 49,282 |
Gross Unrealized Losses, Losses less than 12 Months | 1,142 | 501 |
Gross Unrealized Losses, Losses 12 Months or More | 393 | 224 |
Gross Unrealized Losses, Total | 1,535 | 725 |
Mortgage-backed securities | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | 150,282 | 89,313 |
Fair Value, Losses 12 Months or More | 32,204 | 33,287 |
Fair Value, Total | 182,486 | 122,600 |
Gross Unrealized Losses, Losses less than 12 Months | 2,520 | 807 |
Gross Unrealized Losses, Losses 12 Months or More | 1,430 | 747 |
Gross Unrealized Losses, Total | 3,950 | 1,554 |
Corporate obligations | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | 7,100 | 5,666 |
Fair Value, Losses 12 Months or More | 3,175 | 3,156 |
Fair Value, Total | 10,275 | 8,822 |
Gross Unrealized Losses, Losses less than 12 Months | 54 | 9 |
Gross Unrealized Losses, Losses 12 Months or More | 703 | 792 |
Gross Unrealized Losses, Total | $ 757 | 801 |
Other | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | 0 | |
Fair Value, Losses 12 Months or More | 920 | |
Fair Value, Total | 920 | |
Gross Unrealized Losses, Losses less than 12 Months | 0 | |
Gross Unrealized Losses, Losses 12 Months or More | 335 | |
Gross Unrealized Losses, Total | $ 335 |
LOANS - Additional Information
LOANS - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage of loan portfolio to earning assets | 73.20% | 74.10% | |
Troubled debt restructurings, balance | $ 7,100,000 | $ 6,900,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,000,000 | 2,000,000 | |
Foreclosed Real Estate Expense | 1,200,000 | ||
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total | 200,000 | ||
Financing Receivable, Modifications, Reserve | 100,000 | ||
Financing Receivable Modifications Recorded Investment | 7,100,000 | $ 6,900,000 | |
trouble debt restructuring member [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Troubled debt restructurings, balance | 295,000 | $ 295,000 | |
Financing Receivable Modifications Recorded Investment | 295,000 | 295,000 | |
Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Non- Accrual | $ 86,000 | $ 75,000 |
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 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | $ 6,713 | $ 4,785 |
Past Due 90 Days Or More and Still Accruing | 1,096 | 285 |
Non- Accrual | 5,746 | 5,674 |
Total Past Due and Non- Accrual | 13,555 | 10,744 |
Total Loans | 1,516,579 | 1,225,306 |
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 | 2,433 | 2,450 |
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 | 15,861 | 3,109 |
Real Estate-construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 289 | 192 |
Past Due 90 Days Or More and Still Accruing | 35 | 27 |
Non- Accrual | 147 | 92 |
Total Past Due and Non- Accrual | 471 | 311 |
Total Loans | 213,712 | 183,328 |
Real Estate-mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 3,976 | 2,656 |
Past Due 90 Days Or More and Still Accruing | 456 | 176 |
Non- Accrual | 2,464 | 2,692 |
Total Past Due and Non- Accrual | 6,896 | 5,524 |
Total Loans | 475,868 | 385,099 |
Real Estate-non farm non residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 1,541 | 1,487 |
Past Due 90 Days Or More and Still Accruing | 426 | 82 |
Non- Accrual | 1,778 | 1,724 |
Total Past Due and Non- Accrual | 3,745 | 3,293 |
Total Loans | 561,153 | 467,484 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 784 | 393 |
Past Due 90 Days Or More and Still Accruing | 179 | 0 |
Non- Accrual | 1,314 | 1,120 |
Total Past Due and Non- Accrual | 2,277 | 1,513 |
Total Loans | 213,118 | 165,780 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 123 | 57 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 43 | 46 |
Total Past Due and Non- Accrual | 166 | 103 |
Total Loans | $ 34,434 | $ 18,056 |
Changes in the Carrying Amount
Changes in the Carrying Amount and Accretable Yield for Acquired Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement [Line Items] | ||
Balance at beginning of period, Accretable Yield | $ 836 | $ 894 |
Accretion, Accretable Yield | (17) | (58) |
Payments received, net, Accretable Yield | 0 | 0 |
Charge-off, Accretable Yield | (10) | 0 |
Balance at end of period, Accretable Yield | 809 | 836 |
Balance at beginning of period, Carrying Amount of Loans | 1,185 | 1,305 |
Accretion, Carrying Amount of Loans | 17 | 58 |
Payments received, net, Carrying Amount of Loans | (20) | (178) |
Charge-off, Carrying Amount of Loans | (10) | 0 |
Balance at end of period, Carrying Amount of Loans | $ 1,172 | $ 1,185 |
Additional Detail of Impaired L
Additional Detail of Impaired Loans Broken Out According to Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | $ 6,740 | $ 6,559 |
Impaired loans with no related allowance, unpaid balance | 7,512 | 6,899 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 6,650 | 5,506 |
Impaired loans with no related allowance, interest income recognized YTD | 59 | 185 |
Impaired loans with a related allowance, recorded investment | 3,995 | 4,015 |
Impaired loans with a related allowance, unpaid balance | 3,995 | 4,015 |
Impaired loans with a related allowance | 788 | 661 |
Impaired loans with a related allowance, average recored investment YTD | 4,005 | 3,535 |
Impaired loans with a related allowance, interest income recognized YTD | 38 | 141 |
Recorded Investment | 10,735 | 10,574 |
Unpaid Balance | 11,507 | 10,914 |
Related Allowance | 788 | 661 |
Average Recorded Investment YTD | 10,655 | 9,041 |
Interest Income Recognized YTD | 97 | 326 |
Commercial installment | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 286 | 270 |
Impaired loans with no related allowance, unpaid balance | 286 | 270 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 278 | 90 |
Impaired loans with no related allowance, interest income recognized YTD | 0 | 1 |
Impaired loans with a related allowance, recorded investment | 1,043 | 850 |
Impaired loans with a related allowance, unpaid balance | 1,043 | 850 |
Impaired loans with a related allowance | 435 | 267 |
Impaired loans with a related allowance, average recored investment YTD | 947 | 262 |
Impaired loans with a related allowance, interest income recognized YTD | 0 | 14 |
Recorded Investment | 1,329 | 1,120 |
Unpaid Balance | 1,329 | 1,120 |
Related Allowance | 435 | 267 |
Average Recorded Investment YTD | 1,225 | 352 |
Interest Income Recognized YTD | 0 | 15 |
Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 3,947 | 4,080 |
Impaired loans with no related allowance, unpaid balance | 4,152 | 4,176 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 4,014 | 3,502 |
Impaired loans with no related allowance, interest income recognized YTD | 39 | 101 |
Impaired loans with a related allowance, recorded investment | 2,444 | 2,638 |
Impaired loans with a related allowance, unpaid balance | 2,444 | 2,638 |
Impaired loans with a related allowance | 207 | 234 |
Impaired loans with a related allowance, average recored investment YTD | 2,540 | 2,756 |
Impaired loans with a related allowance, interest income recognized YTD | 33 | 112 |
Recorded Investment | 6,391 | 6,718 |
Unpaid Balance | 6,596 | 6,814 |
Related Allowance | 207 | 234 |
Average Recorded Investment YTD | 6,554 | 6,258 |
Interest Income Recognized YTD | 72 | 213 |
Consumer real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 2,454 | 2,180 |
Impaired loans with no related allowance, unpaid balance | 3,021 | 2,424 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 2,317 | 1,897 |
Impaired loans with no related allowance, interest income recognized YTD | 20 | 83 |
Impaired loans with a related allowance, recorded investment | 492 | 504 |
Impaired loans with a related allowance, unpaid balance | 492 | 504 |
Impaired loans with a related allowance | 130 | 137 |
Impaired loans with a related allowance, average recored investment YTD | 498 | 493 |
Impaired loans with a related allowance, interest income recognized YTD | 5 | 15 |
Recorded Investment | 2,946 | 2,684 |
Unpaid Balance | 3,513 | 2,928 |
Related Allowance | 130 | 137 |
Average Recorded Investment YTD | 2,815 | 2,390 |
Interest Income Recognized YTD | 25 | 98 |
Consumer installment | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 53 | 29 |
Impaired loans with no related allowance, unpaid balance | 53 | 29 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 41 | 17 |
Impaired loans with no related allowance, interest income recognized YTD | 0 | 0 |
Impaired loans with a related allowance, recorded investment | 16 | 23 |
Impaired loans with a related allowance, unpaid balance | 16 | 23 |
Impaired loans with a related allowance | 16 | 23 |
Impaired loans with a related allowance, average recored investment YTD | 20 | 24 |
Impaired loans with a related allowance, interest income recognized YTD | 0 | 0 |
Recorded Investment | 69 | 52 |
Unpaid Balance | 69 | 52 |
Related Allowance | 16 | 23 |
Average Recorded Investment YTD | 61 | 41 |
Interest Income Recognized YTD | $ 0 | $ 0 |
Impaired Loans (Detail)
Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Impaired Loans: | ||
Impaired loans without a valuation allowance | $ 6,740 | $ 6,559 |
Impaired loans with a valuation allowance | 3,995 | 4,015 |
Total impaired loans | 10,735 | 10,574 |
Allowance for loan losses on impaired loans at period end | 788 | 661 |
Total nonaccrual loans | 5,746 | 5,674 |
Past due 90 days or more and still accruing | 1,096 | 285 |
Average investment in impaired loans | $ 10,655 | $ 9,041 |
Summary of Interest Recognized
Summary of Interest Recognized and Cash-Basis Interest Earned on Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Interest income recognized during impairment | $ 97 | $ 100 |
Cash-basis interest income recognized | $ 97 | $ 100 |
Modifications of Loans Performi
Modifications of Loans Performing (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30-89 | $ 6,713 | $ 4,785 |
Past Due 90 days and still accuring | 1,096 | 285 |
Non-Accural | 5,746 | 5,674 |
Total | 1,516,579 | 1,225,306 |
Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 4,552 | 4,714 |
Past Due 30-89 | 87 | 181 |
Past Due 90 days and still accuring | 349 | 5 |
Non-Accural | 2,146 | 2,030 |
Total | 7,134 | 6,930 |
Allowance for loan losses, Current Loans | 118 | 100 |
Allowance for loan losses, Past Due 30-89 | 0 | 22 |
Allowance for loan losses, Past Due 90 days and still accruing | 0 | 5 |
Allowance for loan losses, Non-Accrual | 15 | 27 |
Allowance for loan losses, Total | 133 | 154 |
Loans | Commercial installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 16 | 0 |
Past Due 30-89 | 0 | 0 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 0 | 0 |
Total | 16 | 0 |
Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 3,314 | 3,702 |
Past Due 30-89 | 0 | 92 |
Past Due 90 days and still accuring | 349 | 0 |
Non-Accural | 1,078 | 1,025 |
Total | 4,741 | 4,819 |
Loans | Consumer real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 1,195 | 1,012 |
Past Due 30-89 | 87 | 89 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 1,053 | 987 |
Total | 2,335 | 2,088 |
Loans | Consumer installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 27 | 0 |
Past Due 30-89 | 0 | 0 |
Past Due 90 days and still accuring | 0 | 5 |
Non-Accural | 15 | 18 |
Total | $ 42 | $ 23 |
Risk Category of Loans by Class
Risk Category of Loans by Class of Loans (Excluding Mortgage Loans Held for Sale) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | $ 1,517,326 | $ 1,226,329 |
Less: Unearned discount | 747 | 1,023 |
Loans, net of unearned discount | 1,516,579 | 1,225,306 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,473,945 | 1,185,051 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 19,440 | 19,575 |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 23,373 | 21,586 |
Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 568 | 117 |
Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 945,817 | 794,632 |
Less: Unearned discount | 747 | 710 |
Loans, net of unearned discount | 945,070 | 793,922 |
Commercial Real Estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 915,825 | 763,572 |
Commercial Real Estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 14,257 | 15,987 |
Commercial Real Estate | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 15,644 | 14,979 |
Commercial Real Estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 91 | 94 |
Mortgage Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 304,423 | 231,480 |
Less: Unearned discount | 0 | 65 |
Loans, net of unearned discount | 304,423 | 231,415 |
Mortgage Real Estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 297,379 | 226,178 |
Mortgage Real Estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,912 | 680 |
Mortgage Real Estate | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 5,132 | 4,622 |
Mortgage Real Estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 0 | 0 |
Installment and Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 41,892 | 28,562 |
Less: Unearned discount | 0 | 0 |
Loans, net of unearned discount | 41,892 | 28,562 |
Installment and Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 41,767 | 28,482 |
Installment and Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 98 | 0 |
Installment and Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 27 | 80 |
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 | 225,194 | 171,655 |
Less: Unearned discount | 0 | 248 |
Loans, net of unearned discount | 225,194 | 171,407 |
Commercial,Financial and Agricultural | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 218,974 | 166,819 |
Commercial,Financial and Agricultural | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 3,173 | 2,908 |
Commercial,Financial and Agricultural | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 2,570 | 1,905 |
Commercial,Financial and Agricultural | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | $ 477 | $ 23 |
Activity in Allowance for Loan
Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance at beginning of period | $ 8,288 | $ 7,510 |
Loans charged-off: | (23) | 74 |
Recoveries on loans previously charged-off: | 117 | 331 |
Net recoveries | 94 | 257 |
Provision for Loan Losses | 277 | 46 |
Balance at end of period | 8,659 | 7,813 |
Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans charged-off: | 4 | 65 |
Recoveries on loans previously charged-off: | 22 | 301 |
Installment and Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans charged-off: | 19 | 8 |
Recoveries on loans previously charged-off: | 87 | 13 |
Commercial Financial And Agricultural | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans charged-off: | 0 | 1 |
Recoveries on loans previously charged-off: | $ 8 | $ 17 |
Allocation of Allowance for Loa
Allocation of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses | $ 8,659 | $ 8,288 | $ 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 | $ 1,916 | $ 1,608 | ||
Allowance for loan losses, percentage of total | 14.80% | 14.00% | ||
Commercial Real Estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses | $ 4,848 | $ 4,644 | ||
Allowance for loan losses, percentage of total | 62.40% | 64.80% | ||
Consumer Real Estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses | $ 1,538 | $ 1,499 | ||
Allowance for loan losses, percentage of total | 20.00% | 18.90% | ||
Consumer | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses | $ 177 | $ 173 | ||
Allowance for loan losses, percentage of total | 2.80% | 2.30% | ||
Unallocated | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses | $ 180 | $ 364 | ||
Allowance for loan losses, percentage of total | 0.00% | 0.00% |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses, Broken Down by Portfolio Segment (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Loans | ||||
Individually evaluated | $ 10,735 | $ 10,574 | ||
Collectively evaluated | 1,505,844 | 1,214,732 | ||
Total | 1,516,579 | 1,225,306 | ||
Allowance for Loan Losses | ||||
Individually evaluated | 788 | 661 | ||
Collectively evaluated | 7,871 | 7,627 | ||
Total | 8,659 | 8,288 | $ 7,813 | $ 7,510 |
Real Estate | ||||
Loans | ||||
Individually evaluated | 9,337 | 9,402 | ||
Collectively evaluated | 1,240,156 | 1,015,934 | ||
Total | 1,249,493 | 1,025,336 | ||
Allowance for Loan Losses | ||||
Individually evaluated | 337 | 371 | ||
Collectively evaluated | 6,229 | 5,952 | ||
Total | 6,566 | 6,323 | ||
Installment And Other | ||||
Loans | ||||
Individually evaluated | 69 | 52 | ||
Collectively evaluated | 41,823 | 28,511 | ||
Total | 41,892 | 28,563 | ||
Allowance for Loan Losses | ||||
Individually evaluated | 16 | 23 | ||
Collectively evaluated | 161 | 334 | ||
Total | 177 | 357 | ||
Commercial Financial And Agriculture | ||||
Loans | ||||
Individually evaluated | 1,329 | 1,120 | ||
Collectively evaluated | 223,865 | 170,287 | ||
Total | 225,194 | 171,407 | ||
Allowance for Loan Losses | ||||
Individually evaluated | 435 | 267 | ||
Collectively evaluated | 1,481 | 1,341 | ||
Total | $ 1,916 | $ 1,608 |
SUBSEQUENT EVENTS_OTHER - Addit
SUBSEQUENT EVENTS/OTHER - Additional Information (Detail) - USD ($) | Apr. 01, 2018 | Mar. 31, 2018 | Apr. 30, 2018 |
Sunshine Financial, Inc. [Member] | |||
Subsequent Event [Line Items] | |||
Business Combination, Consideration Transferred | $ 30,500,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 213,100,000 | ||
Business Combination, Acquisition Related Costs | $ 400,000 | ||
Subsequent Event [Member] | 5.875% subordinated notes due 2028 [Member] | |||
Subsequent Event [Line Items] | |||
Debt Instrument, Face Amount | $ 24,000,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 5.875% | ||
Subsequent Event [Member] | 6.40% subordinated notes due 2033 [Member] | |||
Subsequent Event [Line Items] | |||
Debt Instrument, Face Amount | $ 42,000,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 6.40% | ||
Subsequent Event [Member] | Sunshine Financial, Inc. [Member] | |||
Subsequent Event [Line Items] | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 726,461 | ||
Payments to Acquire Businesses, Gross | $ 7,030,800 |