Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 02, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | FIRST BANCSHARES INC /MS/ | |
Entity Central Index Key | 947,559 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | FBMS | |
Entity Common Stock, Shares Outstanding | 13,065,953 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 97,554 | $ 42,980 |
Interest-bearing deposits with banks | 20,792 | 48,466 |
Federal funds sold | 2,079 | 475 |
Total cash and cash equivalents | 120,425 | 91,921 |
Securities held-to-maturity, at amortized cost | 6,000 | 6,000 |
Securities available-for-sale, at fair value | 437,011 | 356,893 |
Other securities | 10,320 | 9,969 |
Total securities | 453,331 | 372,862 |
Loans held for sale | 5,914 | 4,790 |
Loans | 1,710,271 | 1,225,306 |
Allowance for loan losses | (9,512) | (8,288) |
Loans, net | 1,706,673 | 1,221,808 |
Interest receivable | 8,493 | 6,705 |
Premises and equipment | 62,289 | 46,426 |
Cash surrender value of bank-owned life insurance | 36,634 | 27,054 |
Goodwill | 54,944 | 19,960 |
Other real estate owned | 7,890 | 7,158 |
Other assets | 31,010 | 19,344 |
TOTAL ASSETS | 2,481,689 | 1,813,238 |
Deposits: | ||
Noninterest-bearing | 459,402 | 301,989 |
Interest-bearing | 1,637,833 | 1,168,576 |
TOTAL DEPOSITS | 2,097,235 | 1,470,565 |
Interest payable | 1,186 | 353 |
Borrowed funds | 10,516 | 104,072 |
Subordinated debentures | 75,192 | 10,310 |
Other liabilities | 11,734 | 5,470 |
TOTAL LIABILITIES | 2,195,863 | 1,590,770 |
STOCKHOLDERS' EQUITY: | ||
Common stock, par value $1 per share, 20,000,000 shares authorized; 13,092,447 shares issued at June 30, 2018, and 11,192,401 shares issued at December 31, 2017, respectively | 13,092 | 11,192 |
Additional paid-in capital | 216,310 | 158,456 |
Retained earnings | 61,369 | 53,722 |
Accumulated other comprehensive loss | (4,481) | (438) |
Treasury stock, at cost, 26,494 shares at June 30, 2018 and at December 31, 2017 | (464) | (464) |
TOTAL STOCKHOLDERS' EQUITY | 285,826 | 222,468 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,481,689 | $ 1,813,238 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 13,092,447 | 11,192,401 |
Treasury stock, shares | 26,494 | 26,494 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
INTEREST INCOME: | ||||
Interest and fees on loans | $ 21,714 | $ 14,170 | $ 37,699 | $ 27,670 |
Interest and dividends on securities: | ||||
Taxable interest and dividends | 2,423 | 1,605 | 4,409 | 3,141 |
Tax exempt interest | 758 | 592 | 1,433 | 1,185 |
Interest on federal funds sold and interest bearing deposits in other banks | 142 | 97 | 254 | 221 |
TOTAL INTEREST INCOME | 25,037 | 16,464 | 43,795 | 32,217 |
INTEREST EXPENSE: | ||||
Interest on deposits | 2,547 | 1,303 | 4,387 | 2,461 |
Interest on borrowed funds | 921 | 326 | 1,459 | 753 |
TOTAL INTEREST EXPENSE | 3,468 | 1,629 | 5,846 | 3,214 |
NET INTEREST INCOME | 21,569 | 14,835 | 37,949 | 29,003 |
PROVISION FOR LOAN LOSSES | 857 | 248 | 1,134 | 294 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 20,712 | 14,587 | 36,815 | 28,709 |
OTHER INCOME: | ||||
TOTAL OTHER INCOME | 5,632 | 3,757 | 9,091 | 7,148 |
OTHER EXPENSES: | ||||
Salaries and employee benefits | 9,502 | 7,762 | 17,291 | 15,743 |
Occupancy and equipment | 2,034 | 1,348 | 3,680 | 2,718 |
Acquisition and integration charges | 3,838 | 2,682 | 5,596 | 6,280 |
Other | 4,306 | 3,278 | 7,710 | 6,424 |
TOTAL OTHER EXPENSES | 19,680 | 15,070 | 34,277 | 31,165 |
INCOME BEFORE INCOME TAXES | 6,664 | 3,274 | 11,629 | 4,692 |
INCOME TAXES | 1,419 | 908 | 2,427 | 1,204 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS | $ 5,245 | $ 2,366 | $ 9,202 | $ 3,488 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS: | ||||
BASIC | $ 0.40 | $ 0.26 | $ 0.75 | $ 0.38 |
DILUTED | 0.40 | 0.26 | 0.74 | 0.38 |
DIVIDENDS PER SHARE – COMMON | $ 0.05 | $ 0.0375 | $ 0.10 | $ 0.075 |
Deposit Account [Member] | ||||
OTHER INCOME: | ||||
Other incomes | $ 1,341 | $ 922 | $ 2,368 | $ 1,790 |
Financial Service, Other [Member] | ||||
OTHER INCOME: | ||||
Other incomes | $ 4,291 | $ 2,835 | $ 6,723 | $ 5,358 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net income per consolidated statements of income | $ 5,245 | $ 2,366 | $ 9,202 | $ 3,488 |
Other Comprehensive Income: | ||||
Unrealized holding gains/ (losses) arising during period on available-for sale securities | (926) | 2,904 | (5,410) | 5,259 |
Less reclassification adjustment for gains included in net income | 0 | 0 | 0 | 0 |
Unrealized holding gains/ (losses) arising during period on available-for-sale securities | (926) | 2,904 | (5,410) | 5,259 |
Income tax benefit(expense) | 234 | (1,230) | 1,367 | (2,030) |
Other comprehensive income (loss) | (692) | 1,674 | (4,043) | 3,229 |
Comprehensive Income | $ 4,553 | $ 4,040 | $ 5,159 | $ 6,717 |
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 |
Beginning Balance at Dec. 31, 2016 | $ 154,527 | $ 9,018 | $ 102,574 | $ 44,477 | $ (1,078) | $ (464) |
Net income | 3,488 | 0 | 0 | 3,488 | 0 | 0 |
Other comprehensive income | 3,229 | 0 | 0 | 0 | 3,229 | 0 |
Dividends on common stock | (686) | 0 | 0 | (686) | 0 | 0 |
Issuance of common shares | 2,249 | 89 | 2,160 | 0 | 0 | 0 |
Repurchase of restricted stock for payment of taxes | (330) | (12) | (318) | 0 | 0 | 0 |
Restricted stock grant | 0 | 84 | (84) | 0 | 0 | 0 |
Compensation expense | 402 | 0 | 402 | 0 | 0 | 0 |
Ending Balance at Jun. 30, 2017 | 162,879 | 9,179 | 104,734 | 47,279 | 2,151 | (464) |
Beginning Balance at Dec. 31, 2017 | 222,468 | 11,192 | 158,456 | 53,722 | (438) | (464) |
Net income | 9,202 | 9,202 | 0 | 0 | ||
Other comprehensive income | (4,043) | 0 | 0 | 0 | (4,043) | 0 |
Dividends on common stock | (1,206) | 0 | 0 | (1,206) | 0 | 0 |
Issuance of common shares | 36,005 | 1,134 | 34,871 | 0 | 0 | |
Issuance of 726,461 common shares for Sunshine acquisition | 23,428 | 726 | 22,702 | |||
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 | 558 | 0 | 558 | 0 | 0 | 0 |
ASU 2016-01 implementation | (349) | 0 | 0 | (349) | 0 | 0 |
Ending Balance at Jun. 30, 2018 | $ 285,826 | $ 13,092 | $ 216,310 | $ 61,369 | $ (4,481) | $ (464) |
CONSOLIDATED STATEMENTS OF CHA7
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Dividends on common stock, per Share | $ 0.10 | $ 0.0375 |
GCCB acquisition [Member] | ||
Stock Issued During Period, Shares, Acquisitions | 89,591 | |
Southwest acquisition [Member] | ||
Stock Issued During Period, Shares, Acquisitions | 1,134,010 | |
Sunshine acquisition [Member] | ||
Stock Issued During Period, Shares, Acquisitions | 726,461 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
NET INCOME | $ 9,202 | $ 3,488 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | 2,121 | 2,312 |
Provision for loan losses | 1,134 | 294 |
Loss on sale/writedown of ORE | 52 | 404 |
Restricted stock expense | 558 | 402 |
Increase in cash value of life insurance | (411) | (354) |
Federal Home Loan Bank stock dividends | (64) | (42) |
Changes in: | ||
Interest receivable | (17) | 272 |
Loans held for sale, net | (1,121) | (24) |
Interest payable | 696 | (69) |
Other, net | (269) | 544 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 11,881 | 7,227 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Maturities, calls and paydowns of available-for-sale and held-to-maturity securities | 30,021 | 34,734 |
Proceeds from sales of securities available-for-sale | 18,573 | 0 |
Purchases of available-for-sale securities | (57,039) | (62,555) |
Redemptions (Purchases) of other securities | 2,436 | (1,796) |
Net increase in loans | (48,042) | (83,942) |
Net increase in premises and equipment | (2,424) | (2,415) |
Purchase of bank-owned life insurance | 0 | (469) |
Proceeds from sale of other real estate owned | 985 | 5,759 |
Cash received in excess of cash paid for acquisitions | 29,901 | 3,413 |
NET CASH USED IN INVESTING ACTIVITIES | (25,589) | (107,271) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Increase in deposits | 117,435 | 156,060 |
Net decrease in borrowed funds | (138,664) | (24,539) |
Dividends paid on common stock | (1,188) | (670) |
Repurchase of restricted stock for payment of taxes | 0 | (330) |
Expenses associated with capital raise | (237) | 0 |
Issuance of subordinated debt, net | 64,866 | 0 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 42,212 | 130,521 |
NET INCREASE IN CASH | 28,504 | 30,477 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 91,921 | 62,119 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 120,425 | 92,596 |
SUPPLEMENTAL DISCLOSURES: | ||
CASH PAYMENTS FOR INTEREST | 4,964 | 3,366 |
CASH PAYMENTS FOR INCOME TAXES | 816 | 650 |
LOANS TRANSFERRED TO OTHER REAL ESTATE | 985 | 755 |
Restricted Stock [Member] | ||
SUPPLEMENTAL DISCLOSURES: | ||
Stock Issued During Period Value Acquisitions | 52 | 84 |
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 |
Sunshine acquisition [Member] | ||
SUPPLEMENTAL DISCLOSURES: | ||
Stock Issued During Period Value Acquisitions | $ 23,428 | $ 0 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 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 six months ended June 30, 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 Form 10-K for the fiscal year ended December 31, 2017. |
SUMMARY OF ORGANIZATION
SUMMARY OF ORGANIZATION | 6 Months Ended |
Jun. 30, 2018 | |
Notes To Financial Statements [Abstract] | |
SUMMARY OF ORGANIZATION | NOTE 2 — SUMMARY OF ORGANIZATION The First Bancshares, Inc., Hattiesburg, Mississippi , 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 June 30, 2018, the Company had approximately $2.5 billion in assets, $1.7 billion in net loans, $2.1 billion in deposits, and 0.3 equity. For the six months ended June 30, 2018, the Company reported net income of $9.2 million. After tax merger related costs of $4.3 million were expensed during the six months ended June 30, 2018. On May 22, 2018, the Company paid a cash dividend in the amount of $0.05 per share to shareholders of record as of the close of business on Monday, May 7, 2018. On February 22, 2018, the Company paid a cash dividend in the amount of $0.05 per share to shareholders of record as of the close of business on Friday, February 5, 2018. |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | NOTE 3 — RECENT ACCOUNTING PRONOUNCEMENTS In June 2018, the FASB issued ASU No. 2018-07, Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU has been issued as part of a simplification initiative which will expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees and expands the scope through the amendments to address and improve aspects of the accounting for non-employee share-based payment transactions. The amendments will be effective for interim and annual reporting periods beginning after December 15, 2018. The Company is currently evaluating the provisions of ASU 2018-07 to determine the potential impact the new standard will have on its Consolidated Financial Statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. 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 also allows an accounting policy election to reclassify other stranded tax effects that relate to the Act but are not directly related to the change in federal tax rate. ASU is effective in the first quarter of 2019. Early adoption is permitted for reporting periods for which financial statements have not yet been issued. The Company adopted ASU in the fourth quarter of 2017 by retrospective application. Upon adoption, the Company made a policy election to reclassify stranded tax effects of approximately $76 thousand from Accumulated Other Comprehensive Income to retained earnings using the specific identification method. In May 2017, the FASB issued ASU No. 2017-09, “Stock Compensation, Scope of Modification Accounting.” In March 2017, the FASB issued ASU No. 2017-08, “ Premium Amortization on Purchased Callable Debt Securities.” does not change the accounting for purchased callable debt securities held at a discount as the discount will continue to be accreted to maturity. ASU 2017-08 is effective for interim and annual reporting periods beginning after December 15, 2018; early adoption is permitted. The guidance calls for a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the first reporting period in which ASU 2017-08 is adopted. The Company is currently evaluating the provisions of ASU 2017-08 to determine the potential impact the new standard will have on its Consolidated Financial Statements. 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. " Current GAAP is unclear or does not include specific guidance on how to classify certain transactions in the statement of cash flows. ASU 2016-15 is intended to reduce diversity in practice in how eight particular transactions are classified in the statement of cash flows. ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017. Entities were required to apply the guidance retrospectively unless it would have been impracticable to do, in which case the amendments could have been applied prospectively. As this guidance only affects the classification within the statement of cash flows, ASU 2016-15 did not have a material impact on the Consolidated Financial Statements. 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 ” ASU 2016-13 requires a new impairment model known as the current expected credit loss (“CECL”) which significantly changes the way impairment of financial instruments is recognized by requiring immediate recognition of estimated credit losses expected to occur over the remaining life of financial instruments. The main provisions of ASU 2016-13 include (1) replacing the “incurred loss” approach under current GAAP with an “expected loss” model for instruments measured at amortized cost, (2) requiring entities to record an allowance for credit losses related to available-for-sale debt securities rather than a direct write-down of the carrying amount of the investments, as is required by the other-than-temporary-impairment model under current GAAP, and (3) a simplified accounting model for purchased credit-impaired debt securities and loans. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019, although early adoption is permitted. The Company is currently working with a third party to assess the impact of the adoption of ASU 2016-13 on its Consolidated Financial Statements. While we are currently unable to reasonably estimate the impact of adopting ASU 2016-13, we expect that the impact of adoption could be influenced by the composition, characteristics and quality of our loan portfolio as well as the prevailing economic conditions and forecasts as of the adoption date. As part of our evaluation process, we have established a working group that includes individuals from various functional areas to assess processes, portfolio segmentation, systems requirements and needed resources to implement this new accounting standard. In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted the amendments effective January 1, 2017. The Company has a stock-based compensation plan for which the ASU 2016-09 guidance results in the associated excess tax benefits or deficiencies being recognized as tax expense or benefit in the income statement instead of the previous accounting treatment, which requires excess tax benefits to be recognized as an adjustment to additional paid-in capital and excess tax deficiencies to be recognized as either an offset to accumulated excess tax benefits, if any, or to the income statement. In addition, such amounts are now classified as an operating activity in the statement of cash flows instead of the current accounting treatment, which required it to be classified as both an operating and a financing activity. The Company’s stock based compensation plan has not historically generated material amounts of excess tax benefits or deficiencies and, therefore, the Company has not experienced a material change in the Company’s financial position or results of operation as a result of the adoption and implementation of ASU 2016-09. In February 2016, the FASB issued ASU No. 2016-02 “ Leases (Topic 842).” ASU 2016-02 establishes a right of use model that requires a lessee to record a right of use asset and a lease liability for all leases with terms longer than 12 months. Leases will be classified as either finance or operating with classification affecting the pattern of expense recognition in the income statement. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. A lease will be treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing. If neither risks and rewards nor control is conveyed, an operating lease results. The amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements, with certain practical expedients available. Early adoption is permitted. The Company is currently assessing the impact of ASU 2016-02 on Consolidated Financial Statements. |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 6 Months Ended |
Jun. 30, 2018 | |
Business Combination, Description [Abstract] | |
BUSINESS COMBINATIONS | NOTE 4 – BUSINESS COMBINATIONS Acquisitions Sunshine Financial, Inc. On April 1, 2018, the Company completed its acquisition of Sunshine Financial, Inc., (“Sunshine”), and immediately thereafter merged its wholly-owned subsidiary, Sunshine Community Bank, with and into The First. The Company paid a total consideration of approximately $30.5 million to the Sunshine shareholders as consideration in the merger which included 726,461 shares of Company common stock and approximately $7 million in cash. In connection with the acquisition, preliminarily, the Company recorded approximately $10.0 million of goodwill and $2.8 million of core deposit intangible. The core deposit intangible will be expensed over 10 years. The Company acquired the $173.1 million loan portfolio at an estimated fair value discount of $2.2 million. The discount represents expected credit losses, adjusted for market interest rates and liquidity adjustments. Expenses associated with the acquisition were $1.2 million for the six month period ended June 30, 2018. These costs included charges associated with due diligence as well as legal and consulting expenses, which have been expensed as incurred. The preliminary amounts of the acquired identifiable assets and liabilities as of the acquisition date were as follows: ($ In Thousands) Purchase price: Cash and stock $ 30,461 Total purchase price 30,461 Identifiable assets: Cash and due from banks 16,099 Investments 13,812 Loans 170,843 Bank owned life insurance 3,284 Core deposit intangible 2,831 Personal and real property 4,121 Other assets 2,576 Total assets 213,566 Liabilities and equity: Deposits 151,973 Borrowed funds 38,250 Other liabilities 2,920 Total liabilities 193,143 Net assets acquired 20,423 Goodwill resulting from acquisition $ 10,038 The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2018, are as follows ($ In Thousands): Outstanding principal balance $ 168,958 Carrying amount 166,463 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 million to the Southwest shareholders as consideration in the merger which included 1,134,010 shares of Company common stock and $24 million in cash. In connection with the acquisition, preliminarily, the Company recorded approximately $24.8 million of goodwill and $4.2 million of core deposit intangible. The core deposit intangible will be expensed over 10 years. The Company acquired the $274.7 million loan portfolio at an estimated fair value discount of $8.4 million. The discount represents expected credit losses, adjusted for market interest rates and liquidity adjustments. Expenses associated with the acquisition were $ 4.0 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 44,836 Investments 66,940 Loans 266,307 Bank owned life insurance 5,885 Core deposit intangible 4,177 Personal and real property 10,500 Other assets 3,226 Total assets 401,871 Liabilities and equity: Deposits 357,221 Borrowed funds 6,858 Other liabilities 2,561 Total liabilities 366,640 Net assets acquired 35,231 Goodwill resulting from acquisition $ 24,774 During the quarter, adjustments were made to the acquired identifiable assets and liabilities which included adjustments to fair values, reclassifications of balances and break out of bank owned life insurance. Loans were adjusted down by $3.6 million to reflect the sales price of acquired loans that were subsequently sold. Deferred tax assets increased $0.7 million and various other assets increased $0.4 million. As a result of these changes and the confirmation of $5.9 million bank owned life insurance, total assets acquired increased $3.4 million and total liabilities increased $0.5 million, resulting in a decrease to goodwill of $2.9 million. The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2018, are as follows ($ In Thousands): Outstanding principal balance $ 240,831 Carrying amount 237,603 The following unaudited pro-forma financial information for the six months ended June 30, 2018 and June 30, 2017 gives ($ In Thousands) Pro-Forma Pro-Forma June 30, 2018 June 30, 2017 (unaudited) (unaudited) Net interest income 42,355 39,309 Non-interest income 9,868 9,581 Total revenue 52,223 48,890 Income before income taxes 18,575 13,501 Supplemental pro-forma earnings were adjusted to exclude acquisition costs incurred. Iberville Bank On January 1, 2017, the Company completed its acquisition of 100% of the common stock of Iberville Bank, Plaquemine, Louisiana, from A. Wilbert’s Sons Lumber and Shingle Co. (“Iberville Parent”), and immediately thereafter merged Iberville Bank (“Iberville”), the wholly-owned subsidiary of Iberville Parent, with and into The First. The Company paid a total of $31.1 million in cash. Approximately $2.5 million of the purchase price was held in escrow as contingency for flood-related losses in the loan portfolio incurred due to flooding in Iberville’s market area in the fall of 2016. The Company received $498,207 from the escrow for settlement of flood-related loans. Goodwill at June 30, 2018, reflects the escrow settlement. In connection with the acquisition, the Company recorded $5.1 million of goodwill and $2.7 million of core deposit intangible. The core deposit intangible will be amortized to expense over 10 years. The Company acquired Iberville’s $149.4 million loan portfolio at an estimated fair value discount of $0.8 million. The discount represents expected credit losses, adjusted for market interest rates and liquidity adjustments. Expenses associated with the acquisition were $0 and $3.5 million for the six months ended June 30, 2018 and 2017, respectively. These costs included system conversion and integrating operations charges, as well as legal and consulting expenses, which have been expensed as incurred. The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2018, are as follows: ($ In Thousands) Outstanding principal balance $ 101,862 Carrying amount 101,267 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 million. In connection with the acquisition, the Company recorded $1.1 million of goodwill and $1.0 million of core deposit intangible. The core deposit intangible will be amortized to expense over 10 years. The Company acquired GCCB’s $91.0 million loan portfolio at a fair value discount of approximately $2.2 million. The discount represents expected credit losses, adjusted for market interest rates and liquidity adjustments. Expenses associated with the acquisition were $0 and $2.8 million for the six months ended June 30, 2018 and 2017, respectively. These costs included systems conversion and integrating operations charges, as well as legal and consulting expenses, which have been expensed as incurred. On March 3, 2017, $5.0 million of loans acquired in the acquisition were sold. In connection with the sale, the acquisition credit mark was decreased by $2.2 million, the amount of which was included in the credit mark at acquisition. The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2018, are as follows: ($ In Thousands) Outstanding principal balance $ 48,365 Carrying amount 48,251 Loans acquired in the four acquisitions discussed in Note 4 – Business Combinations were accounted for in accordance with ASC 310-20, Receivables-Nonrefundable Fees and Other Costs |
EARNINGS APPLICABLE TO COMMON S
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | NOTE 5 — EARNINGS APPLICABLE TO COMMON STOCKHOLDERS Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as restricted stock grants. There were no antidilutive common stock equivalents excluded in the calculations. For the Three Months Ended June 30, 2018 Net Income Shares Per (Numerator) (Denominator) Share Data Basic earnings per share $ 5,245,000 13,065,953 $ 0.40 Effect of dilutive shares: Restricted stock grants 102,016 Diluted per share $ 5,245,000 13,167,969 $ 0.40 For the Six Months Ended June 30, 2018 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 9,202,000 12,311,460 $ 0.75 Effect of dilutive shares: Restricted stock grants 102,016 Diluted per share $ 9,202,000 12,413,476 $ 0.74 For the Three Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 2,366,000 9,145,179 $ 0.26 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 2,366,000 9,206,378 $ 0.26 For the Six Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 3,488,000 9,134,225 $ 0.38 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 3,488,000 9,195,424 $ 0.38 The Company granted 51,851 shares of restricted stock in the first quarter of 2018 and 73,827 shares of restricted stock in the first quarter of 2017. There were no grants of restricted stock in the second quarter or 2018 and 9,709 shares granted during the second quarter of 2017. |
COMPREHENSIVE INCOME
COMPREHENSIVE INCOME | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
COMPREHNSIVE INCOME | NOTE 6 – COMPREHENSIVE INCOME As presented in the Consolidated Statements of Comprehensive Income, comprehensive income includes net income and other comprehensive income. The Company’s sources of other comprehensive income are unrealized gains and losses on available-for-sale investment securities. Gains or losses on investment securities that had previously been included in other comprehensive income as unrealized holding gains or losses in the period in which they arose were realized and reflected in net income of the current period, and as a result are considered to be reclassification adjustments that are excluded from other comprehensive income in the current period. |
FINANCIAL INSTRUMENTS WITH OFF-
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | NOTE 7 – 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 June 30, 2018, and December 31, 2017, these financial instruments consisted of the following: ($ In Thousands) June 30, 2018 December 31, 2017 Commitments to extend credit $ 241,238 $ 281,381 Standby letters of credit 9,061 8,207 |
FAIR VALUE DISCLOSURES AND REPO
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS | 6 Months Ended |
Jun. 30, 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 June 30, 2018 and December 31, 2017: · Cash and cash equivalents and fed funds sold · Securities (available-for-sale, held-to-maturity and other) · 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 Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted: As of June 30, 2018 Fair Value Measurements Carrying Estimated Quoted Significant Significant Financial Instruments: Assets: Cash and cash equivalents $ 120,425 $ 120,425 $ 120,425 $ - $ - Securities available-for-sale: Obligations of U.S. Government Agencies 21,263 21,263 - 21,263 - Municipal securities 156,453 156,453 - 156,453 - Mortgage-backed securities 248,652 248,652 - 248,652 - Corporate obligations 10,643 10,643 - 8,075 2,568 Securities held-to-maturity 6,000 7,183 - 7,183 - Other securities 10,320 10,320 n/a n/a n/a Loans, net 1,706,673 1,720,284 - - 1,720,284 Accrued interest receivable 8,493 8,493 - Liabilities: Noninterest-bearing deposits $ 459,402 $ 459,402 $ - $ 459,402 $ - Interest-bearing deposits 1,637,833 1,597,218 - 1,597,218 - Subordinated debentures 75,192 75,394 - - 75,394 FHLB and other borrowings 10,516 10,516 - 10,516 - Accrued interest payable 1,186 1,186 - 1,186 - 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 1,238,525 - - 1,238,525 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. Assets measured at fair value on a recurring basis are summarized below: June 30, 2018 ($ In Thousands) Fair Value Measurements Using Quoted Prices Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 21,263 $ - $ 21,263 $ - Municipal securities 156,453 - 156,453 - Mortgage-backed securities 248,652 - 248,652 - Corporate obligations 10,643 - 8,075 2,568 Total $ 437,011 $ - $ 434,443 $ 2,568 December 31, 2017 ($ In Thousands) Fair Value Measurements Using Quoted Prices 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 (loss) included in comprehensive income (1 ) 328 Balance at June 30, 2018 and December 31, 2017 $ 2,568 $ 2,569 The following table presents quantitative information about recurring Level 3 fair value measurements (in thousands): Trust Preferred Securities Fair Value Valuation Technique Significant Unobservable Inputs Range of Inputs June 30, 2018 $ 2,568 Discounted cash flow Probability of default 2.88% - 4.58% 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 10 percent 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 by obtaining a current independent appraisal of the collateral and applying a 10 percent discount factor to the value. The adjustment at the time of foreclosure is recorded through the allowance for loan losses. Due to the subjective nature of establishing the fair value, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined the fair value declines subsequent to foreclosure, a valuation allowance is recorded through non-interest expense. Operating costs associated with the assets are also recorded as non-interest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other non-interest expense. Other real estate owned measured at fair value on a non-recurring basis at June 30, 2018, amounted to $7.9 million. Other real estate owned is classified within Level 3 of the fair value hierarchy. The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell at June 30, 2018 and December 31, 2017. ($ In Thousands) June 30, 2018 Fair Value Measurements Using Quoted Significant Significant Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 13,547 $ - $ - $ 13,547 Other real estate owned $ 7,890 - - $ 7,890 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 | 6 Months Ended |
Jun. 30, 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. A summary of the amortized cost and estimated fair value of available-for-sale securities and held-to-maturity securities at June 30, 2018 and December 31, 2017, follows: ($ In Thousands) June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-sale securities: Obligations of U.S. Government agencies $ 21,664 - $ 401 $ 21,263 Tax-exempt and taxable obligations of states and municipal subdivisions 156,891 1,117 1,555 156,453 Mortgage-backed securities 253,071 187 4,606 248,652 Corporate obligations 11,383 10 750 10,643 $ 443,009 $ 1,314 $ 7,312 $ 437,011 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,183 $ - $ 7,183 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value 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 June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due less than one year $ 19,499 $ 19,466 $ - $ - Due after one year through five years 57,467 57,923 - - Due after five years through ten years 69,611 69,010 6,000 7,183 Due greater than ten years 43,361 41,988 - - Mortgage-backed securities 253,071 248,624 - - Total $ 443,009 $ 437,011 $ 6,000 $ 7,183 December 31, 2017 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value 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 - - Total $ 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. The details concerning securities classified as available-for-sale with unrealized losses as of June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Obligations of U.S. government agencies $ 19,339 $ 344 $ 1,397 $ 57 $ 20,736 $ 401 Tax-exempt and taxable obligations of state and municipal subdivisions 76,098 1,096 11,706 459 87,804 1,555 Mortgage-backed securities 187,711 3,333 34,917 1,273 222,628 4,606 Corporate obligations 5,063 48 3,178 702 8,241 750 $ 288,211 $ 4,821 $ 51,198 $ 2,491 $ 339,409 $ 7,312 December 31, 2017 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses 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 At June 30, 2018 and December 31, 2017, the Company security portfolio consisted of 450 and 235, respectively, that were in an unrealized loss position. The Company reviews its investment portfolio quarterly for indications of other-than-temporary impairment (“OTTI”), with attention given to securities in a continuous loss position of at least ten percent for over twelve months. Management believes that none of the losses on available-for-sale securities noted above constitute an OTTI. The noted losses are considered temporary due to market fluctuations in available interest rates. Management considers the issuers of the securities to be financially sound, the corporate bonds are investment grade, and the collectability of all contractual principal and interest payments is reasonably expected. No OTTI losses were recognized during the six months ended June 30, 2018 or the year ended December 31, 2017. |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2018 | |
Loans Receivable, Net [Abstract] | |
LOANS | NOTE 10 – LOANS 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. The following tables summarize by class our loans classified as past due in excess of 30 days or more in addition to those loans classified as non-accrual: June 30, 2018 ($ In thousands) Past Due 30 to 89 Days Past Due 90 Days or More and Still Accruing Non- Accrual Total Past Due and Non- Accrual Total Loans Real Estate-construction $ 432 $ 12 $ 322 $ 766 $ 229,164 Real Estate-mortgage 4,570 90 4,970 9,630 546,118 Real Estate-non farm non-residential 1,086 810 1,715 3,611 658,098 Commercial 169 - 1,325 1,494 228,584 Lease Financing Rec. - - - - 2,476 Obligations of states and subdivisions - - - - 10,627 Consumer 233 28 108 369 35,204 Total $ 6,490 $ 940 $ 8,440 $ 15,870 $ 1,710,271 December 31, 2017 ($ In Thousands) Past Due 30 to 89 Days Past Due 90 Days or More and Still Accruing Non- Accrual Total Past Due and Non- Accrual Total Loans 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 million as of June 30, 2018 and $2.0 million as of December 31, 2017. The outstanding balance of these loans is the undiscounted sum of all amounts, including amounts deemed principal, interest, fees, penalties, and other under the loans, owed at the reporting date, whether or not currently due and whether or not any such amounts have been charged off. Changes in the carrying amount and accretable yield for acquired impaired loans were as follows at June 30, 2018 and December 31, 2017: ($ In Thousands) June 30, 2018 December 31, 2017 Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Balance at beginning of period $ 836 $ 1,185 $ 894 $ 1,305 Accretion (25 ) 25 (58 ) 58 Payments received, net (43 ) - (178 ) Charge-off (10 ) (10 ) - - Balance at end of period $ 801 $ 1,157 $ 836 $ 1,185 The following tables provide additional detail of impaired loans broken out according to class as of June 30, 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 June 30, 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. June 30, 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 $ 283 $ 283 $ - $ 275 $ 2 Commercial real estate 3,762 3,884 - 3,902 54 Consumer real estate 5,795 6,044 - 3,354 62 Consumer installment 138 145 - 64 3 Total $ 9,978 $ 10,356 $ - $ 7,595 $ 121 Impaired loans with a related allowance: Commercial installment $ 1,043 $ 1,043 $ 435 $ 979 $ - Commercial real estate 2,658 2,658 193 2,580 70 Consumer real estate 1,041 1,058 124 679 9 Consumer installment 28 28 28 22 - Total $ 4,770 $ 4,787 $ 780 $ 4,260 $ 79 Total Impaired Loans: Commercial installment $ 1,326 $ 1,326 $ 435 $ 1,253 $ 2 Commercial real estate 6,420 6,542 193 6,482 124 Consumer real estate 6,836 7,102 124 4,033 71 Consumer installment 166 173 28 87 3 Total Impaired Loans $ 14,748 $ 15,143 $ 780 $ 11,855 $ 200 As of June 30, 2018, the Company had $1.3 million of foreclosed residential real estate property obtained by physical possession and $0.3 million of consumer mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process according to local jurisdictions. December 31, 2017 ($ 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 The following table is a summary of interest recognized and cash-basis interest earned on impaired loans: ($ In Thousands) Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Interest income recognized during impairment $ 99 $ 161 Cash-basis interest income recognized 99 200 The gross interest income that would have been recorded in the period that ended if the nonaccrual loans had been current in accordance with their original terms and had been outstanding throughout the period or since origination, if held for part of the three months and six months ended June 30, 2018 was $143,000 and $230,000, respectively. The Company had no loan commitments to borrowers in non-accrual status at June 30, 2018 and December 31, 2017. 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 and six month periods ended June 30, 2018. The balance of TDRs was $9.1 million at June 30, 2018 and $6.9 million at December 31, 2017, respectively. There was $0.2 million allocated in specific reserves established with respect to these loans as of June 30, 2018. As of June 30, 2018, the Company had no additional amount committed on any loan classified as TDR. The following tables set forth the amounts and past due status for the Bank TDRs at June 30, 2018 and December 31, 2017: ($ In Thousands) June 30, 2018 Current Loans Past Due 30-89 Past Due 90 days and still accruing Non- accrual Total Commercial installment $ 15 $ - $ - $ - $ 15 Commercial real estate 3,608 - - 1,230 4,838 Consumer real estate 2,567 - - 1,562 4,129 Consumer installment 119 - - 33 152 Total $ 6,309 $ - $ - $ 2,825 $ 9,134 Allowance for loan Losses $ 158 $ - $ - $ 19 $ 177 ($ In Thousands) December 31, 2017 Current Loans Past Due 30-89 Past Due 90 days and still accruing Non- accrual 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 was 1 loan which totaled $86,000 and 2 loans which totaled $283,000 that were modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the ending June 30, 2018 and June 30, 2017, respectively. Internal Risk Ratings The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company uses the following definitions for risk ratings, which are consistent with the definitions used in supervisory guidance: Special Mention close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of June 30, 2018 and December 31, 2017, and based on the most recent analysis performed, the risk categories of loans by class of loans (excluding mortgage loans held for sale) were as follows: June 30, 2018 ($ In Thousands) Real Estate Commercial Real Estate Mortgage Installment and Other Commercial, Financial and Agriculture Total Pass $ 1,039,742 $ 344,592 $ 54,329 $ 225,908 $ 1,664,571 Special Mention 14,305 2,142 - 2,864 19,311 Substandard 17,777 6,722 551 1,765 26,815 Doubtful 90 - - 454 544 Subtotal $ 1,071,914 $ 353,456 $ 54,880 $ 230,991 $ 1,711,241 Less: Unearned discount 970 - - - 970 Loans, net of unearned discount $ 1,070,944 $ 353,456 $ 54,880 $ 230,991 $ 1,710,271 December 31, 2017 ($ In Thousands) Real Estate Commercial Real Estate Mortgage Installment and Other Commercial, Financial and Agriculture 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 the allowance for loan losses for the period was as follows: ($ In Thousands) Three Months Six Months Ended Ended June 30, 2018 June 30, 2018 Balance at beginning of period $ 8,659 $ 8,288 Loans charged-off: Real Estate (13 ) (17 ) Installment and Other (13 ) (32 ) Commercial, Financial and Agriculture (5 ) (5 ) Total (31 ) (54 ) Recoveries on loans previously charged-off: Real Estate 41 63 Installment and Other (24 ) 63 Commercial, Financial and Agriculture 10 18 Total 27 144 Net recoveries (charge-off) (4 ) 90 Provision for Loan Losses 857 1,134 Balance at end of period $ 9,512 $ 9,512 The following tables represent how the allowance for loan losses is allocated to a particular loan type, as well as the percentage of the category to total loans at June 30, 2018 and December 31, 2017. The following tables provide the ending balances in the Company's loans (excluding mortgage loans held for sale) and allowance for loan losses, broken down by portfolio segment as of June 30, 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. June 30, 2018 Commercial ($ In thousands) Installment Financial and and Real Estate Other Agriculture Total Loans Individually evaluated $ 13,256 $ 165 $ 1,327 $ 14,748 Collectively evaluated 1,419,213 35,659 240,651 1,695,523 Total $ 1,432,469 $ 35,824 $ 241,978 $ 1,710,271 Allowance for Loan Losses Individually evaluated $ 318 $ 28 $ 435 $ 781 Collectively evaluated 6,999 155 1,577 8,731 Total $ 7,317 $ 183 $ 2,012 $ 9,512 December 31, 2017 Commercial, ($ In thousands) Installment Financial and and Real Estate Other Agriculture 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 | 6 Months Ended |
Jun. 30, 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 was 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 was no change to the timing and pattern of revenue recognition, there were 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 Interchange Income Gains/Losses on Sales of OREO All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within non-interest income. The following table presents the Company’s sources of non-interest income for the three months ended June 30, 2018 and 2017 and six months ended June 30, 2018 and 2017. Items outside the scope of ASC 606 are noted as such. Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Non-interest income Service charges on Deposits Overdraft fees $ 711 $ 550 $ 1,338 $ 1,119 Other 630 372 1,030 671 Interchange income 1,500 959 2,540 1,862 Investment brokerage Fees 10 4 26 8 Loan servicing fees - - - - Net losses on securities (5 ) (1 ) (5 ) (9 ) Other 2,786 1,873 4,162 3,497 Total non-interest income $ 5,632 $ 3,757 $ 9,091 $ 7,148 |
SUBSEQUENT EVENTS_OTHER
SUBSEQUENT EVENTS/OTHER | 6 Months Ended |
Jun. 30, 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. FMB Banking Corporation On July 24, 2018, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with FMB Banking Corporation, a Florida corporation (“FMB”), whereby FMB will be merged with and into the Company. Pursuant to and simultaneously with entering into the Merger Agreement, The First, and FMB’s wholly owned subsidiary bank, Farmers & Merchants Bank, entered into a Plan of Bank Merger whereby Farmers & Merchants Bank will be merged with and into The First immediately following the merger of FMB with and into the Company with a purchase price of approximately $80.0 million. At June 30, 2018, FMB had total assets of approximately $480.7 million. |
RECLASSIFICATION
RECLASSIFICATION | 6 Months Ended |
Jun. 30, 2018 | |
Reclassification [Abstract] | |
RECLASSIFICATION | NOTE 13 – RECLASSIFICATION Certain amounts in the 2017 financial statements have been reclassified for comparative purposes to conform to the current period financial statement presentation. |
BUSINESS COMBINATIONS (Tables)
BUSINESS COMBINATIONS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Southwest Banc Shares, Inc. [Member] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary amounts of the acquired identifiable assets and liabilities as of the acquisition date were as follows: ($ In Thousands) Purchase price: Cash and stock $ 60,005 Total purchase price 60,005 Identifiable assets: Cash and due from banks 44,836 Investments 66,940 Loans 266,307 Bank owned life insurance 5,885 Core deposit intangible 4,177 Personal and real property 10,500 Other assets 3,226 Total assets 401,871 Liabilities and equity: Deposits 357,221 Borrowed funds 6,858 Other liabilities 2,561 Total liabilities 366,640 Net assets acquired 35,231 Goodwill resulting from acquisition $ 24,774 |
Business Combination, Separately Recognized Transactions | During the quarter, adjustments were made to the acquired identifiable assets and liabilities which included adjustments to fair values, reclassifications of balances and break out of bank owned life insurance. Loans were adjusted down by $3.6 million to reflect the sales price of acquired loans that were subsequently sold. Deferred tax assets increased $0.7 million and various other assets increased $0.4 million. As a result of these changes and the confirmation of $5.9 million bank owned life insurance, total assets acquired increased $3.4 million and total liabilities increased $0.5 million, resulting in a decrease to goodwill of $2.9 million. The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2018, are as follows ($ In Thousands): Outstanding principal balance $ 240,831 Carrying amount 237,603 |
Business Acquisition, Pro Forma Information | The following unaudited pro-forma financial information for the six months ended June 30, 2018 and June 30, 2017 gives ($ In Thousands) Pro-Forma Pro-Forma June 30, 2018 June 30, 2017 (unaudited) (unaudited) Net interest income 42,355 39,309 Non-interest income 9,868 9,581 Total revenue 52,223 48,890 Income before income taxes 18,575 13,501 |
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 June 30, 2018, are as follows: ($ In Thousands) Outstanding principal balance $ 101,862 Carrying amount 101,267 |
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 June 30, 2018, are as follows: ($ In Thousands) Outstanding principal balance $ 48,365 Carrying amount 48,251 |
Sunshine Financial, 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 $ 30,461 Total purchase price 30,461 Identifiable assets: Cash and due from banks 16,099 Investments 13,812 Loans 170,843 Bank owned life insurance 3,284 Core deposit intangible 2,831 Personal and real property 4,121 Other assets 2,576 Total assets 213,566 Liabilities and equity: Deposits 151,973 Borrowed funds 38,250 Other liabilities 2,920 Total liabilities 193,143 Net assets acquired 20,423 Goodwill resulting from acquisition $ 10,038 |
Business Combination, Separately Recognized Transactions | The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at June 30, 2018, are as follows ($ In Thousands): Outstanding principal balance $ 168,958 Carrying amount 166,463 |
EARNINGS APPLICABLE TO COMMON23
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS (Tables) | 6 Months Ended |
Jun. 30, 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. There were no antidilutive common stock equivalents excluded in the calculations. For the Three Months Ended June 30, 2018 Net Income Shares Per (Numerator) (Denominator) Share Data Basic earnings per share $ 5,245,000 13,065,953 $ 0.40 Effect of dilutive shares: Restricted stock grants 102,016 Diluted per share $ 5,245,000 13,167,969 $ 0.40 For the Six Months Ended June 30, 2018 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 9,202,000 12,311,460 $ 0.75 Effect of dilutive shares: Restricted stock grants 102,016 Diluted per share $ 9,202,000 12,413,476 $ 0.74 For the Three Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 2,366,000 9,145,179 $ 0.26 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 2,366,000 9,206,378 $ 0.26 For the Six Months Ended June 30, 2017 Net Income Shares Per (Numerator) (Denominator) Share Data Basic per share $ 3,488,000 9,134,225 $ 0.38 Effect of dilutive shares: Restricted stock grants 61,199 Diluted per share $ 3,488,000 9,195,424 $ 0.38 |
FINANCIAL INSTRUMENTS WITH OF24
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2018, and December 31, 2017, these financial instruments consisted of the following: ($ In Thousands) June 30, 2018 December 31, 2017 Commitments to extend credit $ 241,238 $ 281,381 Standby letters of credit 9,061 8,207 |
FAIR VALUE DISCLOSURES AND RE25
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2018 Fair Value Measurements Carrying Estimated Quoted Significant Significant Financial Instruments: Assets: Cash and cash equivalents $ 120,425 $ 120,425 $ 120,425 $ - $ - Securities available-for-sale: Obligations of U.S. Government Agencies 21,263 21,263 - 21,263 - Municipal securities 156,453 156,453 - 156,453 - Mortgage-backed securities 248,652 248,652 - 248,652 - Corporate obligations 10,643 10,643 - 8,075 2,568 Securities held-to-maturity 6,000 7,183 - 7,183 - Other securities 10,320 10,320 n/a n/a n/a Loans, net 1,706,673 1,720,284 - - 1,720,284 Accrued interest receivable 8,493 8,493 - Liabilities: Noninterest-bearing deposits $ 459,402 $ 459,402 $ - $ 459,402 $ - Interest-bearing deposits 1,637,833 1,597,218 - 1,597,218 - Subordinated debentures 75,192 75,394 - - 75,394 FHLB and other borrowings 10,516 10,516 - 10,516 - Accrued interest payable 1,186 1,186 - 1,186 - 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 1,238,525 - - 1,238,525 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 | Assets measured at fair value on a recurring basis are summarized below: June 30, 2018 ($ In Thousands) Fair Value Measurements Using Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value (Level 1) (Level 2) (Level 3) Obligations of U. S. Government Agencies $ 21,263 $ - $ 21,263 $ - Municipal securities 156,453 - 156,453 - Mortgage-backed securities 248,652 - 248,652 - Corporate obligations 10,643 - 8,075 2,568 Total $ 437,011 $ - $ 434,443 $ 2,568 December 31, 2017 ($ In Thousands) Fair Value Measurements Using Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 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 | The following is a reconciliation of activity for assets measured at fair value based on significant unobservable (non-market) information. ($ In Thousands) Bank-Issued Trust Preferred Securities 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 (loss) included in comprehensive income (1 ) 328 Balance at June 30, 2018 and December 31, 2017 $ 2,568 $ 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 Securities Fair Value Valuation Technique Significant Unobservable Inputs Range of Inputs June 30, 2018 $ 2,568 Discounted cash flow Probability of default 2.88% - 4.58% December 31, 2017 $ 2,569 Discounted cash flow Probability of default 2.07% - 3.77% |
Fair Value Assets Measured on Nonrecurring Basis | The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell at June 30, 2018 and December 31, 2017. ($ In Thousands) June 30, 2018 Fair Value Measurements Using Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value (Level 1) (Level 2) (Level 3) Impaired loans $ 13,547 $ - $ - $ 13,547 Other real estate owned $ 7,890 - - $ 7,890 December 31, 2017 Fair Value Measurements Using Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 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) | 6 Months Ended |
Jun. 30, 2018 | |
Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Available-For-Sale Securities and Held-to-Maturity Securities | A summary of the amortized cost and estimated fair value of available-for-sale securities and held-to-maturity securities at June 30, 2018 and December 31, 2017, follows: ($ In Thousands) June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-sale securities: Obligations of U.S. Government agencies $ 21,664 - $ 401 $ 21,263 Tax-exempt and taxable obligations of states and municipal subdivisions 156,891 1,117 1,555 156,453 Mortgage-backed securities 253,071 187 4,606 248,652 Corporate obligations 11,383 10 750 10,643 $ 443,009 $ 1,314 $ 7,312 $ 437,011 Held-to-maturity securities: Taxable obligations of states and municipal subdivisions $ 6,000 $ 1,183 $ - $ 7,183 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value 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 June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due less than one year $ 19,499 $ 19,466 $ - $ - Due after one year through five years 57,467 57,923 - - Due after five years through ten years 69,611 69,010 6,000 7,183 Due greater than ten years 43,361 41,988 - - Mortgage-backed securities 253,071 248,624 - - Total $ 443,009 $ 437,011 $ 6,000 $ 7,183 December 31, 2017 Available-for-Sale Held-to-Maturity ($ In Thousands) Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value 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 - - Total $ 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 June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Obligations of U.S. government agencies $ 19,339 $ 344 $ 1,397 $ 57 $ 20,736 $ 401 Tax-exempt and taxable obligations of state and municipal subdivisions 76,098 1,096 11,706 459 87,804 1,555 Mortgage-backed securities 187,711 3,333 34,917 1,273 222,628 4,606 Corporate obligations 5,063 48 3,178 702 8,241 750 $ 288,211 $ 4,821 $ 51,198 $ 2,491 $ 339,409 $ 7,312 December 31, 2017 Losses < 12 Months Losses 12 Months or > Total ($ In Thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses 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) | 6 Months Ended |
Jun. 30, 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 | The following tables summarize by class our loans classified as past due in excess of 30 days or more in addition to those loans classified as non-accrual: June 30, 2018 ($ In thousands) Past Due 30 to 89 Days Past Due 90 Days or More and Still Accruing Non- Accrual Total Past Due and Non- Accrual Total Loans Real Estate-construction $ 432 $ 12 $ 322 $ 766 $ 229,164 Real Estate-mortgage 4,570 90 4,970 9,630 546,118 Real Estate-non farm non-residential 1,086 810 1,715 3,611 658,098 Commercial 169 - 1,325 1,494 228,584 Lease Financing Rec. - - - - 2,476 Obligations of states and subdivisions - - - - 10,627 Consumer 233 28 108 369 35,204 Total $ 6,490 $ 940 $ 8,440 $ 15,870 $ 1,710,271 December 31, 2017 ($ In Thousands) Past Due 30 to 89 Days Past Due 90 Days or More and Still Accruing Non- Accrual Total Past Due and Non- Accrual Total Loans 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 June 30, 2018 and December 31, 2017: ($ In Thousands) June 30, 2018 Current Loans Past Due 30-89 Past Due 90 days and still accruing Non- accrual Total Commercial installment $ 15 $ - $ - $ - $ 15 Commercial real estate 3,608 - - 1,230 4,838 Consumer real estate 2,567 - - 1,562 4,129 Consumer installment 119 - - 33 152 Total $ 6,309 $ - $ - $ 2,825 $ 9,134 Allowance for loan Losses $ 158 $ - $ - $ 19 $ 177 ($ In Thousands) December 31, 2017 Current Loans Past Due 30-89 Past Due 90 days and still accruing Non- accrual 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 | Changes in the carrying amount and accretable yield for acquired impaired loans were as follows at June 30, 2018 and December 31, 2017: ($ In Thousands) June 30, 2018 December 31, 2017 Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Balance at beginning of period $ 836 $ 1,185 $ 894 $ 1,305 Accretion (25 ) 25 (58 ) 58 Payments received, net (43 ) - (178 ) Charge-off (10 ) (10 ) - - Balance at end of period $ 801 $ 1,157 $ 836 $ 1,185 |
Troubled Debt Restructurings | The following tables provide additional detail of impaired loans broken out according to class as of June 30, 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 June 30, 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. June 30, 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 $ 283 $ 283 $ - $ 275 $ 2 Commercial real estate 3,762 3,884 - 3,902 54 Consumer real estate 5,795 6,044 - 3,354 62 Consumer installment 138 145 - 64 3 Total $ 9,978 $ 10,356 $ - $ 7,595 $ 121 Impaired loans with a related allowance: Commercial installment $ 1,043 $ 1,043 $ 435 $ 979 $ - Commercial real estate 2,658 2,658 193 2,580 70 Consumer real estate 1,041 1,058 124 679 9 Consumer installment 28 28 28 22 - Total $ 4,770 $ 4,787 $ 780 $ 4,260 $ 79 Total Impaired Loans: Commercial installment $ 1,326 $ 1,326 $ 435 $ 1,253 $ 2 Commercial real estate 6,420 6,542 193 6,482 124 Consumer real estate 6,836 7,102 124 4,033 71 Consumer installment 166 173 28 87 3 Total Impaired Loans $ 14,748 $ 15,143 $ 780 $ 11,855 $ 200 As of June 30, 2018, the Company had $1.3 million of foreclosed residential real estate property obtained by physical possession and $0.3 million of consumer mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process according to local jurisdictions. December 31, 2017 ($ 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 |
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 Ended June 30, 2018 Six Months Ended June 30, 2018 Interest income recognized during impairment $ 99 $ 161 Cash-basis interest income recognized 99 200 |
Risk Category of Loans by Class of Loans | As of June 30, 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: June 30, 2018 ($ In Thousands) Real Estate Commercial Real Estate Mortgage Installment and Other Commercial, Financial and Agriculture Total Pass $ 1,039,742 $ 344,592 $ 54,329 $ 225,908 $ 1,664,571 Special Mention 14,305 2,142 - 2,864 19,311 Substandard 17,777 6,722 551 1,765 26,815 Doubtful 90 - - 454 544 Subtotal $ 1,071,914 $ 353,456 $ 54,880 $ 230,991 $ 1,711,241 Less: Unearned discount 970 - - - 970 Loans, net of unearned discount $ 1,070,944 $ 353,456 $ 54,880 $ 230,991 $ 1,710,271 December 31, 2017 ($ In Thousands) Real Estate Commercial Real Estate Mortgage Installment and Other Commercial, Financial and Agriculture 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 Six Months Ended Ended June 30, 2018 June 30, 2018 Balance at beginning of period $ 8,659 $ 8,288 Loans charged-off: Real Estate (13 ) (17 ) Installment and Other (13 ) (32 ) Commercial, Financial and Agriculture (5 ) (5 ) Total (31 ) (54 ) Recoveries on loans previously charged-off: Real Estate 41 63 Installment and Other (24 ) 63 Commercial, Financial and Agriculture 10 18 Total 27 144 Net recoveries (charge-off) (4 ) 90 Provision for Loan Losses 857 1,134 Balance at end of period $ 9,512 $ 9,512 |
Allocation of Allowance for Loan Losses | The following tables represent how the allowance for loan losses is allocated to a particular loan type, as well as the percentage of the category to total loans at June 30, 2018 and December 31, 2017. |
Loans and Allowance for Loan Losses Evaluated Individually and Collectively | The following tables provide the ending balances in the Company's loans (excluding mortgage loans held for sale) and allowance for loan losses, broken down by portfolio segment as of June 30, 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. June 30, 2018 Commercial ($ In thousands) Installment Financial and and Real Estate Other Agriculture Total Loans Individually evaluated $ 13,256 $ 165 $ 1,327 $ 14,748 Collectively evaluated 1,419,213 35,659 240,651 1,695,523 Total $ 1,432,469 $ 35,824 $ 241,978 $ 1,710,271 Allowance for Loan Losses Individually evaluated $ 318 $ 28 $ 435 $ 781 Collectively evaluated 6,999 155 1,577 8,731 Total $ 7,317 $ 183 $ 2,012 $ 9,512 December 31, 2017 Commercial, ($ In thousands) Installment Financial and and Real Estate Other Agriculture 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 C28
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer By NonInterest Income | The following table presents the Company’s sources of non-interest income for the three months ended June 30, 2018 and 2017 and six months ended June 30, 2018 and 2017. Items outside the scope of ASC 606 are noted as such. Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Non-interest income Service charges on Deposits Overdraft fees $ 711 $ 550 $ 1,338 $ 1,119 Other 630 372 1,030 671 Interchange income 1,500 959 2,540 1,862 Investment brokerage Fees 10 4 26 8 Loan servicing fees - - - - Net losses on securities (5 ) (1 ) (5 ) (9 ) Other 2,786 1,873 4,162 3,497 Total non-interest income $ 5,632 $ 3,757 $ 9,091 $ 7,148 |
SUMMARY OF ORGANIZATION - Addit
SUMMARY OF ORGANIZATION - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||
May 22, 2018 | Feb. 22, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Organization [Line Items] | ||||||||
Assets | $ 2,481,689 | $ 2,481,689 | $ 1,813,238 | |||||
Loans, including Loans held for sale | 1,700,000 | 1,700,000 | ||||||
Deposits | 2,097,235 | 2,097,235 | 1,470,565 | |||||
Stockholders' equity | 285,826 | $ 162,879 | 285,826 | $ 162,879 | $ 222,468 | $ 154,527 | ||
Net income | $ 5,245 | $ 2,366 | $ 9,202 | $ 3,488 | ||||
Dividends on common stock, per share | $ 0.05 | $ 0.05 | $ 0.05 | $ 0.0375 | $ 0.10 | $ 0.075 | ||
Noncash Merger Related Costs | $ 4,300 |
RECENT ACCOUNTING PRONOUNCEME30
RECENT ACCOUNTING PRONOUNCEMENTS - Additional Information (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 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 | Apr. 30, 2018 | Mar. 31, 2018 | Jan. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Business Acquisition [Line Items] | |||||||
Business Acquisition Purchase Price Allocation Loans Receivable | $ 173,100,000 | $ 274,700,000 | |||||
Business Combination Recognized Assets Acquired and Liabilities Assumed, Discount on Loans Acquired | 2,200,000 | 8,400,000 | |||||
Goodwill | $ 54,944,000 | $ 19,960,000 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 726,461 | ||||||
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 | $ 3,500,000 | |||||
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 | $ 2,800,000 | |||||
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 | ||||||
Business Combination, Acquisition Related Costs | 4,000,000 | ||||||
Business Combination, Consideration Transferred | 60,005,000 | ||||||
Goodwill | 24,774,000 | ||||||
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 | ||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets | 3,600,000 | ||||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Assets | 3,400,000 | ||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles | 2,900,000 | ||||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Deferred Tax Assets | 700,000 | ||||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Assets | 400,000 | ||||||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Bank Owned Life Insurance | 5,900,000 | ||||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Liabilities | 500,000 | ||||||
Southwest Banc Shares, Inc. [Member] | Core Deposits [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||||
Sunshine Financial, Inc. [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Payments to Acquire Businesses, Gross | $ 7,000,000 | ||||||
Business Combination, Acquisition Related Costs | 1,200,000 | ||||||
Business Combination, Consideration Transferred | 30,461,000 | ||||||
Goodwill | 10,038,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,831,000 | ||||||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Bank Owned Life Insurance | $ 3,284,000 | ||||||
Sunshine Financial, Inc. [Member] | Core Deposits [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years |
Summary of Acquired Identifiabl
Summary of Acquired Identifiable Assets and Liabilities for Sunshine Financial, Inc. (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Liabilities and equity: | ||
Goodwill resulting from acquisition | $ 54,944 | $ 19,960 |
Sunshine Financial, Inc. [Member] | ||
Purchase price: | ||
Cash and stock | 30,461 | |
Total purchase price | 30,461 | |
Identifiable assets: | ||
Cash and due from banks | 16,099 | |
Investments | 13,812 | |
Loans | 170,843 | |
Bank owned life insurance | 3,284 | |
Core deposit intangible | 2,831 | |
Personal and real property | 4,121 | |
Other assets | 2,576 | |
Total assets | 213,566 | |
Liabilities and equity: | ||
Deposits | 151,973 | |
Borrowed funds | 38,250 | |
Other liabilities | 2,920 | |
Total liabilities | 193,143 | |
Net assets acquired | 20,423 | |
Goodwill resulting from acquisition | $ 10,038 |
Outstanding Principal Balance a
Outstanding Principal Balance and Carrying Amount of Loans for Sunshine Financial, Inc. (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding principal balance | $ 168,958 | $ 2,000 | |
Carrying amount | $ 166,463 | $ 1,185 | $ 1,305 |
Summary of Acquired Identifia34
Summary of Acquired Identifiable Assets and Liabilities for Southwest Banc Shares, Inc. (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Liabilities and equity: | ||
Goodwill resulting from acquisition | $ 54,944 | $ 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 | 44,836 | |
Investments | 66,940 | |
Loans | 266,307 | |
Bank owned life insurance | 5,885 | |
Core deposit intangible | 4,177 | |
Personal and real property | 10,500 | |
Other assets | 3,226 | |
Total assets | 401,871 | |
Liabilities and equity: | ||
Deposits | 357,221 | |
Borrowed funds | 6,858 | |
Other liabilities | 2,561 | |
Total liabilities | 366,640 | |
Net assets acquired | 35,231 | |
Goodwill resulting from acquisition | $ 24,774 |
Outstanding Principal Balance35
Outstanding Principal Balance and Carrying Amount of Loans for Southwest Banc Shares, Inc. (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding principal balance | $ 168,958 | $ 2,000 | |
Carrying amount | 166,463 | $ 1,185 | $ 1,305 |
Southwest Banc Shares, Inc. [Member] | |||
Outstanding principal balance | 240,831 | ||
Carrying amount | $ 237,603 |
Unaudited Supplemental Pro Form
Unaudited Supplemental Pro Forma Information for Southwest Banc Shares, Inc. (Detail) - Southwest Banc Shares, Inc. [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $ 52,223 | $ 48,890 |
Income before income taxes | 18,575 | 13,501 |
Net interest income [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | 42,355 | 39,309 |
Non-interest income [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $ 9,868 | $ 9,581 |
Outstanding Principal Balance37
Outstanding Principal Balance and Carrying Amount of Loans for Iberville Bank (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding principal balance | $ 168,958 | $ 2,000 | |
Carrying amount | 166,463 | $ 1,185 | $ 1,305 |
Iberville Bank [Member] | |||
Outstanding principal balance | 101,862 | ||
Carrying amount | $ 101,267 |
Outstanding Principal Balance38
Outstanding Principal Balance and Carrying Amount of Loans for Gulf Coast Community Bank (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding principal balance | $ 168,958 | $ 2,000 | |
Carrying amount | 166,463 | $ 1,185 | $ 1,305 |
Gulf Coast Community Bank [Member] | |||
Outstanding principal balance | 48,365 | ||
Carrying amount | $ 48,251 |
EARNINGS APPLICABLE TO COMMON39
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS - Additional Information (Detail) - shares | 3 Months Ended | ||
Mar. 31, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | |
Earnings Per Share Basic [Line Items] | |||
Shares of restricted stock granted | 51,851 | 9,709 | 73,827 |
Reconciliation of Numerators an
Reconciliation of Numerators and Denominators of Basic and Diluted Computations (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share Basic [Line Items] | ||||
Net income available to common stock holders, basic earnings per share | $ 5,245,000 | $ 2,366,000 | $ 9,202,000 | $ 3,488,000 |
Net income available to common stock holders, diluted earnings per share | $ 5,245,000 | $ 2,366,000 | $ 9,202,000 | $ 3,488,000 |
Effect of dilutive shares: | ||||
Weighted average number of shares outstanding, basic earnings per share | 13,065,953 | 9,145,179 | 12,311,460 | 9,134,225 |
Restricted stock grants | 102,016 | 61,199 | 102,016 | 61,199 |
Weighted average number of shares outstanding, diluted earnings per share | 13,167,969 | 9,206,378 | 12,413,476 | 9,195,424 |
Basic earnings per share | $ 0.40 | $ 0.26 | $ 0.75 | $ 0.38 |
Diluted earnings per share | $ 0.40 | $ 0.26 | $ 0.74 | $ 0.38 |
FINANCIAL INSTRUMENTS WITH OF41
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 241,238 | $ 281,381 |
Standby letters of credit | $ 9,061 | $ 8,207 |
FAIR VALUE DISCLOSURES AND RE42
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Additional Information (Detail) $ in Millions | Jun. 30, 2018USD ($)Number |
Measurement Input, Discount Rate [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Loans Held-for-sale, Measurement Input | 10 |
Other Real Estate Owned, Measurement Input | 10 |
Fair Value, Measurements, Nonrecurring [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets measured at fair value on a non recurring basis | $ | $ 7.9 |
Fair Values of off-Balance Shee
Fair Values of off-Balance Sheet Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Assets: | ||||
Cash and cash equivalents | $ 120,425 | $ 91,921 | $ 92,596 | $ 62,119 |
Obligations of U.S. Government Agencies | 21,263 | |||
Municipal securities | 156,453 | |||
Mortgage-backed securities | 248,652 | |||
Corporate obligations | 10,643 | |||
Securities available-for- sale | 437,011 | 356,893 | ||
Securities held- to-maturity | 6,000 | 6,000 | ||
Other securities | 10,320 | 9,969 | ||
Loans, net | 1,706,673 | 1,221,808 | ||
Accrued interest receivable | 8,493 | 6,705 | ||
Liabilities: | ||||
Noninterest- bearing deposits | 459,402 | 301,989 | ||
Interest-bearing deposits | 1,637,833 | 1,168,576 | ||
Subordinated debentures | 75,192 | 10,310 | ||
FHLB and other borrowings | 10,516 | 104,072 | ||
Accrued interest payable | 1,186 | 353 | ||
Quoted Prices (Level 1) | ||||
Assets: | ||||
Cash and cash equivalents | 120,425 | 91,921 | ||
Obligations of U.S. Government Agencies | 0 | |||
Municipal securities | 0 | |||
Mortgage-backed securities | 0 | |||
Corporate obligations | 0 | |||
Securities available-for- sale | 0 | 920 | ||
Securities held- to-maturity | 0 | 0 | ||
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 | ||
Obligations of U.S. Government Agencies | 21,263 | |||
Municipal securities | 156,453 | |||
Mortgage-backed securities | 248,652 | |||
Corporate obligations | 8,075 | |||
Securities available-for- sale | 434,443 | 353,404 | ||
Securities held- to-maturity | 7,183 | 7,398 | ||
Loans, net | 0 | 0 | ||
Accrued interest receivable | 2,287 | |||
Liabilities: | ||||
Noninterest- bearing deposits | 459,402 | 301,989 | ||
Interest-bearing deposits | 1,597,218 | 1,165,682 | ||
Subordinated debentures | 0 | 0 | ||
FHLB and other borrowings | 10,516 | 104,072 | ||
Accrued interest payable | 1,186 | 353 | ||
Significant Unobservable Inputs (Level 3) | ||||
Assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Obligations of U.S. Government Agencies | 0 | |||
Municipal securities | 0 | |||
Mortgage-backed securities | 0 | |||
Corporate obligations | 2,568 | |||
Securities available-for- sale | 2,568 | 2,569 | ||
Securities held- to-maturity | 0 | 0 | ||
Loans, net | 1,720,284 | 1,238,525 | ||
Accrued interest receivable | 4,418 | |||
Liabilities: | ||||
Noninterest- bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Subordinated debentures | 75,394 | 10,310 | ||
FHLB and other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Estimated Fair Value | ||||
Assets: | ||||
Cash and cash equivalents | 120,425 | 91,921 | ||
Obligations of U.S. Government Agencies | 21,263 | |||
Municipal securities | 156,453 | |||
Mortgage-backed securities | 248,652 | |||
Corporate obligations | 10,643 | |||
Securities available-for- sale | 356,893 | |||
Securities held- to-maturity | 7,183 | 7,398 | ||
Other securities | 10,320 | 9,969 | ||
Loans, net | 1,720,284 | 1,238,525 | ||
Accrued interest receivable | 8,493 | 6,705 | ||
Liabilities: | ||||
Noninterest- bearing deposits | 459,402 | 301,989 | ||
Interest-bearing deposits | 1,597,218 | 1,165,682 | ||
Subordinated debentures | 75,394 | 10,310 | ||
FHLB and other borrowings | 10,516 | 104,072 | ||
Accrued interest payable | $ 1,186 | $ 353 |
Fair Value of Assets Measured o
Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | $ 437,011 | $ 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 | 21,263 | 4,992 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 156,453 | 138,584 |
Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 248,652 | 196,578 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 10,643 | 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 | 434,443 | 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 | 21,263 | 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 | 156,453 | 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 | 248,652 | 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 | 8,075 | 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 | 2,568 | 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 | $ 2,568 | 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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 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 | (1) | 328 |
Balance at June 30, 2018 and December 31, 2017 | $ 2,568 | $ 2,569 |
Quantitative Information About
Quantitative Information About Recurring Level 3 Fair Value Measurements (Detail) - Valuation Technique, Discounted Cash Flow [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Quantitative Information About Recurring Fair Value Measurements [Line Items] | ||
Significant Unobservable Inputs | Probability of default | Probability of default |
Range of Inputs, Minimum | 2.88% | 2.07% |
Range of Inputs, Maximum | 4.58% | 3.77% |
Fair Value Input Level 3 | ||
Quantitative Information About Recurring Fair Value Measurements [Line Items] | ||
Fair Value | $ 2,568 | $ 2,569 |
Fair Value of Assets Measured47
Fair Value of Assets Measured on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Impaired Loans | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 13,547 | $ 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 | 7,890 | 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 | 13,547 | 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 | $ 7,890 | $ 7,158 |
SECURITIES - Additional Informa
SECURITIES - Additional Information (Detail) - Number | Jun. 30, 2018 | Dec. 31, 2017 |
Number of Security Portfolio | 450 | 235 |
Summary of Amortized Cost and E
Summary of Amortized Cost and Estimated Fair Value of Available-For-Sale Securities and Held-To-Maturity Securities (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | $ 443,009 | $ 357,478 |
Available-for-sale Securities, Gross Unrealized Gains | 1,314 | 2,834 |
Available-for-sale Securities, Gross Unrealized Losses | 7,312 | 3,419 |
Available-for-sale securities, Estimated Fair Value | 437,011 | 356,893 |
Held-to-Maturity, Estimated Fair Value | 7,183 | 7,398 |
Obligations of U.S. Government agencies | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 21,664 | 4,996 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | |
Available-for-sale Securities, Gross Unrealized Losses | 401 | 4 |
Available-for-sale securities, Estimated Fair Value | 21,263 | 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 | 156,891 | 137,281 |
Available-for-sale Securities, Gross Unrealized Gains | 1,117 | 2,028 |
Available-for-sale Securities, Gross Unrealized Losses | 1,555 | 725 |
Available-for-sale securities, Estimated Fair Value | 156,453 | 138,584 |
Held-to-Maturity, Amortized Cost | 6,000 | 6,000 |
Held-to-maturity Securities, Gross Unrealized Gains | 1,183 | 1,398 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Estimated Fair Value | 7,183 | 7,398 |
Mortgage-backed securities | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 253,071 | 197,346 |
Available-for-sale Securities, Gross Unrealized Gains | 187 | 785 |
Available-for-sale Securities, Gross Unrealized Losses | 4,606 | 1,554 |
Available-for-sale securities, Estimated Fair Value | 248,652 | 196,578 |
Corporate obligations | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-Sale, Amortized Cost | 11,383 | 16,599 |
Available-for-sale Securities, Gross Unrealized Gains | 10 | 21 |
Available-for-sale Securities, Gross Unrealized Losses | 750 | 801 |
Available-for-sale securities, Estimated Fair Value | $ 10,643 | 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 | Jun. 30, 2018 | Dec. 31, 2017 |
Available-for-Sale, Amortized Cost | ||
Due less than one year | $ 19,499 | $ 14,048 |
Due after one year through five years | 57,467 | 49,519 |
Due after five years through ten years | 69,611 | 57,713 |
Due greater than ten years | 43,361 | 38,852 |
Mortgage-backed securities | 253,071 | 197,346 |
Total | 443,009 | 357,478 |
Available-for-sale, Estimated Fair Value | ||
Due less than one year | 19,466 | 14,062 |
Due after one year through five years | 57,923 | 49,776 |
Due after five years through ten years | 69,010 | 58,589 |
Due greater than ten years | 41,988 | 37,889 |
Mortgage-backed securities | 248,624 | 196,577 |
Total | 437,011 | 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 | 7,183 | 7,398 |
Due greater than ten years | 0 | 0 |
Mortgage-backed securities | 0 | 0 |
Total | $ 7,183 | $ 7,398 |
Securities Classified as Availa
Securities Classified as Available-for-Sale with Unrealized Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | $ 288,211 | $ 140,530 |
Fair Value, Losses 12 Months or More | 51,198 | 46,086 |
Fair Value, Total | 339,409 | 186,616 |
Gross Unrealized Losses, Losses less than 12 Months | 4,821 | 1,321 |
Gross Unrealized Losses, Losses 12 Months or More | 2,491 | 2,098 |
Gross Unrealized Losses, Total | 7,312 | 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 | 19,339 | 4,992 |
Fair Value, Losses 12 Months or More | 1,397 | 0 |
Fair Value, Total | 20,736 | 4,992 |
Gross Unrealized Losses, Losses less than 12 Months | 344 | 4 |
Gross Unrealized Losses, Losses 12 Months or More | 57 | 0 |
Gross Unrealized Losses, Total | 401 | 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 | 76,098 | 40,559 |
Fair Value, Losses 12 Months or More | 11,706 | 8,723 |
Fair Value, Total | 87,804 | 49,282 |
Gross Unrealized Losses, Losses less than 12 Months | 1,096 | 501 |
Gross Unrealized Losses, Losses 12 Months or More | 459 | 224 |
Gross Unrealized Losses, Total | 1,555 | 725 |
Mortgage-backed securities | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | 187,711 | 89,313 |
Fair Value, Losses 12 Months or More | 34,917 | 33,287 |
Fair Value, Total | 222,628 | 122,600 |
Gross Unrealized Losses, Losses less than 12 Months | 3,333 | 807 |
Gross Unrealized Losses, Losses 12 Months or More | 1,273 | 747 |
Gross Unrealized Losses, Total | 4,606 | 1,554 |
Corporate obligations | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Fair value, Losses less than 12 Months | 5,063 | 5,666 |
Fair Value, Losses 12 Months or More | 3,178 | 3,156 |
Fair Value, Total | 8,241 | 8,822 |
Gross Unrealized Losses, Losses less than 12 Months | 48 | 9 |
Gross Unrealized Losses, Losses 12 Months or More | 702 | 792 |
Gross Unrealized Losses, Total | $ 750 | 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 | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Recorded Investment [Line Items] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | $ 168,958,000 | $ 168,958,000 | $ 2,000,000 | ||
Foreclosed Real Estate Expense | 1,300,000 | ||||
Mortgage Loans on Real Estate, Commercial and Consumer, Net | 300,000 | 300,000 | |||
Financing Receivable, Modifications, Reserve | 200,000 | 200,000 | |||
Financing Receivable, Modifications, Recorded Investment | 9,100,000 | 9,100,000 | $ 6,900,000 | ||
Increase in Financing Receivable Modifications | 2,200,000 | ||||
trouble debt restructuring member [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 86,000 | $ 283,000 | 381,000 | $ 283,000 | |
Financing Receivable [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Non- Accrual | $ 143,000 | $ 230,000 |
Summary of Loans Classified as
Summary of Loans Classified as Past Due in Excess of Thirty Days or More and Loans Classified as Non-Accrual (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | $ 6,490 | $ 4,785 |
Past Due 90 Days Or More and Still Accruing | 940 | 285 |
Non- Accrual | 8,440 | 5,674 |
Total Past Due and Non- Accrual | 15,870 | 10,744 |
Total Loans | 1,710,271 | 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 | 2,476 | 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 | 10,627 | 3,109 |
Real Estate-construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 432 | 192 |
Past Due 90 Days Or More and Still Accruing | 12 | 27 |
Non- Accrual | 322 | 92 |
Total Past Due and Non- Accrual | 766 | 311 |
Total Loans | 229,164 | 183,328 |
Real Estate-mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 4,570 | 2,656 |
Past Due 90 Days Or More and Still Accruing | 90 | 176 |
Non- Accrual | 4,970 | 2,692 |
Total Past Due and Non- Accrual | 9,630 | 5,524 |
Total Loans | 546,118 | 385,099 |
Real Estate-non farm non residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 1,086 | 1,487 |
Past Due 90 Days Or More and Still Accruing | 810 | 82 |
Non- Accrual | 1,715 | 1,724 |
Total Past Due and Non- Accrual | 3,611 | 3,293 |
Total Loans | 658,098 | 467,484 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 169 | 393 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 1,325 | 1,120 |
Total Past Due and Non- Accrual | 1,494 | 1,513 |
Total Loans | 228,584 | 165,780 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30 to 89 Days | 233 | 57 |
Past Due 90 Days Or More and Still Accruing | 28 | 0 |
Non- Accrual | 108 | 46 |
Total Past Due and Non- Accrual | 369 | 103 |
Total Loans | $ 35,204 | $ 18,056 |
Changes in the Carrying Amount
Changes in the Carrying Amount and Accretable Yield for Acquired Impaired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 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 | (25) | (58) |
Payments received, net, Accretable Yield | 0 | |
Charge-off, Accretable Yield | (10) | 0 |
Balance at end of period, Accretable Yield | 801 | 836 |
Balance at beginning of period, Carrying Amount of Loans | 1,185 | 1,305 |
Accretion, Carrying Amount of Loans | 25 | 58 |
Payments received, net, Carrying Amount of Loans | (43) | (178) |
Charge-off, Carrying Amount of Loans | (10) | 0 |
Balance at end of period, Carrying Amount of Loans | $ 166,463 | $ 1,185 |
Additional Detail of Impaired L
Additional Detail of Impaired Loans Broken Out According to Class (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | $ 9,978 | $ 6,559 |
Impaired loans with no related allowance, unpaid balance | 10,356 | 6,899 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 7,595 | 5,506 |
Impaired loans with no related allowance, interest income recognized YTD | 121 | 185 |
Impaired loans with a related allowance, recorded investment | 4,770 | 4,015 |
Impaired loans with a related allowance, unpaid balance | 4,787 | 4,015 |
Impaired loans with a related allowance | 780 | 661 |
Impaired loans with a related allowance, average recored investment YTD | 4,260 | 3,535 |
Impaired loans with a related allowance, interest income recognized YTD | 79 | 141 |
Recorded Investment | 14,748 | 10,574 |
Unpaid Balance | 15,143 | 10,914 |
Related Allowance | 780 | 661 |
Average Recorded Investment YTD | 11,855 | 9,041 |
Interest Income Recognized YTD | 200 | 326 |
Commercial installment | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 283 | 270 |
Impaired loans with no related allowance, unpaid balance | 283 | 270 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 275 | 90 |
Impaired loans with no related allowance, interest income recognized YTD | 2 | 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 | 979 | 262 |
Impaired loans with a related allowance, interest income recognized YTD | 0 | 14 |
Recorded Investment | 1,326 | 1,120 |
Unpaid Balance | 1,326 | 1,120 |
Related Allowance | 435 | 267 |
Average Recorded Investment YTD | 1,253 | 352 |
Interest Income Recognized YTD | 2 | 15 |
Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 3,762 | 4,080 |
Impaired loans with no related allowance, unpaid balance | 3,884 | 4,176 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 3,902 | 3,502 |
Impaired loans with no related allowance, interest income recognized YTD | 54 | 101 |
Impaired loans with a related allowance, recorded investment | 2,658 | 2,638 |
Impaired loans with a related allowance, unpaid balance | 2,658 | 2,638 |
Impaired loans with a related allowance | 193 | 234 |
Impaired loans with a related allowance, average recored investment YTD | 2,580 | 2,756 |
Impaired loans with a related allowance, interest income recognized YTD | 70 | 112 |
Recorded Investment | 6,420 | 6,718 |
Unpaid Balance | 6,542 | 6,814 |
Related Allowance | 193 | 234 |
Average Recorded Investment YTD | 6,482 | 6,258 |
Interest Income Recognized YTD | 124 | 213 |
Consumer real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 5,795 | 2,180 |
Impaired loans with no related allowance, unpaid balance | 6,044 | 2,424 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 3,354 | 1,897 |
Impaired loans with no related allowance, interest income recognized YTD | 62 | 83 |
Impaired loans with a related allowance, recorded investment | 1,041 | 504 |
Impaired loans with a related allowance, unpaid balance | 1,058 | 504 |
Impaired loans with a related allowance | 124 | 137 |
Impaired loans with a related allowance, average recored investment YTD | 679 | 493 |
Impaired loans with a related allowance, interest income recognized YTD | 9 | 15 |
Recorded Investment | 6,836 | 2,684 |
Unpaid Balance | 7,102 | 2,928 |
Related Allowance | 124 | 137 |
Average Recorded Investment YTD | 4,033 | 2,390 |
Interest Income Recognized YTD | 71 | 98 |
Consumer installment | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no a related allowance, recorded investment | 138 | 29 |
Impaired loans with no related allowance, unpaid balance | 145 | 29 |
Impaired loans with no related allowance | 0 | 0 |
Impaired loans with no related allowance, average recorded investment YTD | 64 | 17 |
Impaired loans with no related allowance, interest income recognized YTD | 3 | 0 |
Impaired loans with a related allowance, recorded investment | 28 | 23 |
Impaired loans with a related allowance, unpaid balance | 28 | 23 |
Impaired loans with a related allowance | 28 | 23 |
Impaired loans with a related allowance, average recored investment YTD | 22 | 24 |
Impaired loans with a related allowance, interest income recognized YTD | 0 | 0 |
Recorded Investment | 166 | 52 |
Unpaid Balance | 173 | 52 |
Related Allowance | 28 | 23 |
Average Recorded Investment YTD | 87 | 41 |
Interest Income Recognized YTD | $ 3 | $ 0 |
Summary of Interest Recognized
Summary of Interest Recognized and Cash-Basis Interest Earned on Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Interest income recognized during impairment | $ 99 | $ 161 |
Cash-basis interest income recognized | $ 99 | $ 200 |
Modifications of Loans Performi
Modifications of Loans Performing (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due 30-89 | $ 6,490 | $ 4,785 |
Past Due 90 days and still accuring | 940 | 285 |
Non-Accural | 8,440 | 5,674 |
Total | 1,710,271 | 1,225,306 |
Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 6,309 | 4,714 |
Past Due 30-89 | 0 | 181 |
Past Due 90 days and still accuring | 0 | 5 |
Non-Accural | 2,825 | 2,030 |
Total | 9,134 | 6,930 |
Allowance for loan losses, Current Loans | 158 | 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 | 19 | 27 |
Allowance for loan losses, Total | 177 | 154 |
Loans | Commercial installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 15 | 0 |
Past Due 30-89 | 0 | 0 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 0 | 0 |
Total | 15 | 0 |
Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 3,608 | 3,702 |
Past Due 30-89 | 0 | 92 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 1,230 | 1,025 |
Total | 4,838 | 4,819 |
Loans | Consumer real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 2,567 | 1,012 |
Past Due 30-89 | 0 | 89 |
Past Due 90 days and still accuring | 0 | 0 |
Non-Accural | 1,562 | 987 |
Total | 4,129 | 2,088 |
Loans | Consumer installment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 119 | 0 |
Past Due 30-89 | 0 | 0 |
Past Due 90 days and still accuring | 0 | 5 |
Non-Accural | 33 | 18 |
Total | $ 152 | $ 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 | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | $ 1,711,241 | $ 1,226,329 |
Less: Unearned discount | 970 | 1,023 |
Loans, net of unearned discount | 1,710,271 | 1,225,306 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,664,571 | 1,185,051 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 19,311 | 19,575 |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 26,815 | 21,586 |
Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 544 | 117 |
Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,071,914 | 794,632 |
Less: Unearned discount | 970 | 710 |
Loans, net of unearned discount | 1,070,944 | 793,922 |
Commercial Real Estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,039,742 | 763,572 |
Commercial Real Estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 14,305 | 15,987 |
Commercial Real Estate | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 17,777 | 14,979 |
Commercial Real Estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 90 | 94 |
Mortgage Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 353,456 | 231,480 |
Less: Unearned discount | 0 | 65 |
Loans, net of unearned discount | 353,456 | 231,415 |
Mortgage Real Estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 344,592 | 226,178 |
Mortgage Real Estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 2,142 | 680 |
Mortgage Real Estate | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 6,722 | 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 | 54,880 | 28,562 |
Less: Unearned discount | 0 | 0 |
Loans, net of unearned discount | 54,880 | 28,562 |
Installment and Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 54,329 | 28,482 |
Installment and Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 0 | 0 |
Installment and Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 551 | 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 | 230,991 | 171,655 |
Less: Unearned discount | 0 | 248 |
Loans, net of unearned discount | 230,991 | 171,407 |
Commercial,Financial and Agricultural | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 225,908 | 166,819 |
Commercial,Financial and Agricultural | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 2,864 | 2,908 |
Commercial,Financial and Agricultural | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | 1,765 | 1,905 |
Commercial,Financial and Agricultural | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases receivable, gross | $ 454 | $ 23 |
Activity in Allowance for Loan
Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Balance at beginning of period | $ 8,659 | $ 8,288 | ||
Loans charged-off: | (31) | (54) | ||
Recoveries on loans previously charged-off: | 27 | 144 | ||
Net recoveries (charge-off) | (4) | 90 | ||
Provision for Loan Losses | 857 | $ 248 | 1,134 | $ 294 |
Balance at end of period | 9,512 | 9,512 | ||
Real Estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans charged-off: | (13) | (17) | ||
Recoveries on loans previously charged-off: | 41 | 63 | ||
Installment and Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans charged-off: | (13) | (32) | ||
Recoveries on loans previously charged-off: | (24) | 63 | ||
Commercial Financial And Agricultural | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans charged-off: | (5) | (5) | ||
Recoveries on loans previously charged-off: | $ 10 | $ 18 |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses, Broken Down by Portfolio Segment (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Loans | |||
Individually evaluated | $ 14,748 | $ 10,574 | |
Collectively evaluated | 1,695,523 | 1,214,732 | |
Total | 1,710,271 | 1,225,306 | |
Allowance for Loan Losses | |||
Individually evaluated | 781 | 661 | |
Collectively evaluated | 8,731 | 7,627 | |
Total | 9,512 | $ 8,659 | 8,288 |
Real Estate | |||
Loans | |||
Individually evaluated | 13,256 | 9,402 | |
Collectively evaluated | 1,419,213 | 1,015,934 | |
Total | 1,432,469 | 1,025,336 | |
Allowance for Loan Losses | |||
Individually evaluated | 318 | 371 | |
Collectively evaluated | 6,999 | 5,952 | |
Total | 7,317 | 6,323 | |
Installment And Other | |||
Loans | |||
Individually evaluated | 165 | 52 | |
Collectively evaluated | 35,659 | 28,511 | |
Total | 35,824 | 28,563 | |
Allowance for Loan Losses | |||
Individually evaluated | 28 | 23 | |
Collectively evaluated | 155 | 334 | |
Total | 183 | 357 | |
Commercial Financial And Agriculture | |||
Loans | |||
Individually evaluated | 1,327 | 1,120 | |
Collectively evaluated | 240,651 | 170,287 | |
Total | 241,978 | 171,407 | |
Allowance for Loan Losses | |||
Individually evaluated | 435 | 267 | |
Collectively evaluated | 1,577 | 1,341 | |
Total | $ 2,012 | $ 1,608 |
REVENUE FROM CONTRACTS WITH C61
REVENUE FROM CONTRACTS WITH CUSTOMERS (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Non-interest income | ||||
Service charges on Deposits Overdraft fees | $ 711 | $ 550 | $ 1,338 | $ 1,119 |
Service charges on Deposits Other | 630 | 372 | 1,030 | 671 |
Interchange income | 1,500 | 959 | 2,540 | 1,862 |
Investment brokerage Fees | 10 | 4 | 26 | 8 |
Loan servicing fees | 0 | 0 | 0 | 0 |
Net losses on securities | (5) | (1) | (5) | (9) |
Other | 2,786 | 1,873 | 4,162 | 3,497 |
Total non-interest income | $ 5,632 | $ 3,757 | $ 9,091 | $ 7,148 |
SUBSEQUENT EVENTS_OTHER - Addit
SUBSEQUENT EVENTS/OTHER - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | ||
Jul. 24, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Subsequent Event [Line Items] | |||
Assets | $ 2,481,689 | $ 1,813,238 | |
FMB Banking Corporation [Member] | |||
Subsequent Event [Line Items] | |||
Assets | $ 480,700 | ||
Subsequent Event [Member] | FMB Banking Corporation [Member] | |||
Subsequent Event [Line Items] | |||
Purchase Price | $ 80,000 |